<SEC-DOCUMENT>0001144204-18-053564.txt : 20181012
<SEC-HEADER>0001144204-18-053564.hdr.sgml : 20181012
<ACCEPTANCE-DATETIME>20181012073035
ACCESSION NUMBER:		0001144204-18-053564
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		6
FILED AS OF DATE:		20181012
DATE AS OF CHANGE:		20181012
EFFECTIVENESS DATE:		20181012

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Alliqua BioMedical, Inc.
		CENTRAL INDEX KEY:			0001054274
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		IRS NUMBER:				582349413
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36278
		FILM NUMBER:		181119292

	BUSINESS ADDRESS:	
		STREET 1:		1010 STONY HILL ROAD
		STREET 2:		SUITE 200
		CITY:			YARDLEY
		STATE:			PA
		ZIP:			19067
		BUSINESS PHONE:		215-702-8550

	MAIL ADDRESS:	
		STREET 1:		1010 STONY HILL ROAD
		STREET 2:		SUITE 200
		CITY:			YARDLEY
		STATE:			PA
		ZIP:			19067

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Alliqua, Inc.
		DATE OF NAME CHANGE:	20101222

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HEPALIFE TECHNOLOGIES INC
		DATE OF NAME CHANGE:	20030529

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ZETA CORP
		DATE OF NAME CHANGE:	20030219
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>tv504690_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

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

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

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

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

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Date of Report (Date of earliest event reported):
October 11, 2018</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 14pt"><B><U>Alliqua
BioMedical, Inc.</U></B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Exact Name of Registrant as Specified in
its Charter)</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 32%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Delaware</FONT></TD>
    <TD NOWRAP STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 32%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">001-36278</FONT></TD>
    <TD NOWRAP STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 32%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">58-2349413</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(State or other jurisdiction</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">of incorporation)</P></TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(Commission File Number)</FONT></TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(IRS Employer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Identification No.)</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 66%; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">2150 Cabot Blvd., West</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Suite B</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Langhorne, PA</P></TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">19047</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(Address of principal executive offices)</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(Zip Code)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Registrant&rsquo;s telephone number, including
area code: (215) 702-8550</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border-top: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Former name or former address, if changed since last report)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">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:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: -0.75in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">x</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: -0.75in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-indent: -13.5pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 13e-4 (c) under the Exchange Act (17 CFR 240.13e-4(c)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Emerging growth company
<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

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

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

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

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


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On October 11, 2018, Alliqua BioMedical, Inc. (&ldquo;<B>Alliqua</B>&rdquo;
or the &ldquo;<B>Company</B>&rdquo;), Embark Merger Sub Inc., a Delaware corporation and a wholly-owned subsidiary of Alliqua (&ldquo;<B>Merger
Sub</B>&rdquo;), and Adynxx, Inc., a privately-held Delaware corporation (&ldquo;<B>Adynxx</B>&rdquo;), entered into an Agreement
and Plan of Merger and Reorganization (the &ldquo;<B>Merger Agreement</B>&rdquo;), pursuant to which, among other things, subject
to the satisfaction or waiver of the conditions set forth in the Merger Agreement, Merger Sub will merge with and into Adynxx,
with Adynxx becoming a wholly-owned subsidiary of the Company and the surviving corporation of the merger (the &ldquo;<B>Merger</B>&rdquo;).
The Merger is intended to qualify for federal income tax purposes as a tax-free reorganization under the provisions of Section
368(a) of the Internal Revenue Code of 1986, as amended.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Subject to the terms and conditions of the Merger Agreement,
at the effective time of the Merger (the &ldquo;<B>Effective Time</B>&rdquo;), (a) each outstanding share of Adynxx common stock,
on an as-converted basis taking into consideration all outstanding common stock, preferred stock, restricted stock and all other
securities convertible or exercisable for Adynxx common stock, will be converted into the right to receive the number of shares
of Alliqua&rsquo;s common stock (the &ldquo;<B>Company Common Stock</B>&rdquo;) equal to the exchange ratio described below; (b)
each outstanding Adynxx stock option that has not previously been exercised prior to the Effective Time will be assumed by the
Company; and (c) each outstanding warrant to acquire Adynxx capital stock that has not previously been exercised prior to the Effective
Time will be assumed by the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under the exchange ratio formula in the Merger Agreement, as
of immediately after the Merger, but excluding the effect of certain financings (as further described in the Merger Agreement),
the former Adynxx securityholders are expected to own approximately 86% of the aggregate number of shares of the Company Common
Stock issued and outstanding following the consummation of the Merger (the &ldquo;<B>Post-Closing Shares</B>&rdquo;), and the stockholders
of the Company as of immediately prior to the Merger are expected to own approximately 14% of the aggregate number of Post-Closing
Shares. This exchange ratio will be fixed immediately prior to the Effective Time to reflect the Company&rsquo;s and Adynxx&rsquo;s
equity capitalization as of immediately prior to such time. In addition, to the extent Adynxx consummates a Permitted Financing,
as specifically defined in the Merger Agreement, in excess of $10 million dollars prior to the Effective Time, the exchange ratio
may be further adjusted in a manner that would reduce the percentage of the aggregate number of Post-Closing Shares held by stockholders
of the Company as of immediately prior to the Merger.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white">Immediately following
the Merger, the name of the Company will be changed from &ldquo;Alliqua BioMedical, Inc.&rdquo; to &ldquo;Adynxx, Inc.&rdquo; At
the Effective Time, the Merger Agreement contemplates that the Board of Directors of the Company will consist of such directors
selected by Adynxx, with Alliqua having the right to designate one member. The executive officers of the Company immediately after
the Effective Time will be designated by Adynxx. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white">The Merger Agreement contains
customary representations, warranties and covenants made by the Company and Aynxx, including covenants relating to obtaining the
requisite approvals of the stockholders of the Company and Adynxx, indemnification of directors and officers, and the Company&rsquo;s
and Adynxx&rsquo;s conduct of their respective businesses between the date of signing the Merger Agreement and the closing of the
Merger.</FONT> Consummation of the Merger is subject to certain closing conditions, including, among other things, approval by
the stockholders of the Company and Adynxx. The Merger Agreement contains certain termination rights for both the Company and Adynxx,
and further provides that, upon termination of the Merger Agreement under specified circumstances, the Company or Adynxx, as applicable,
may be required to pay the other party a termination fee of $249,000.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Merger Agreement contemplates that the Company will also
seek approval from its stockholders to effect a reverse stock split, if applicable, with the split ratio to be mutually agreed
to by the Company and Adynxx within the range approved by the Company&rsquo;s stockholders immediately prior to the Effective Time.
In addition, the Merger Agreement requires Alliqua to use commercially reasonable efforts to consummate a spin-off of its contract
manufacturing business prior to the closing of the Merger.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In accordance with the terms of the Merger Agreement, (i) the
officers and directors of the Company have each entered into a voting agreement with the Company (the &ldquo;<B>Alliqua Voting
Agreements</B>&rdquo;), and (ii) the officers, directors and certain affiliated stockholders of Adynxx have each entered into a
voting agreement with Adynxx (the &ldquo;<B>Adynxx Voting Agreements,</B>&rdquo; together with the Alliqua Voting Agreements, the
 &ldquo;<B>Voting Agreements</B>&rdquo;). The Voting Agreements place certain restrictions on the transfer of the shares of the
Company and Adynxx held by the respective signatories thereto and include covenants as to the voting of such shares in favor of
approving the transactions contemplated by the Merger Agreement and against any actions that could adversely affect the consummation
of the Merger.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Concurrently with the execution of the Merger Agreement, the
officers and directors of the Company, and the officers, directors and certain stockholders of Adynxx, each entered into lock-up
agreements (the &ldquo;<B>Lock-Up Agreements</B>&rdquo;) pursuant to which they have agreed, among other things, not to sell or
dispose of any shares of Company Common Stock which are or will be beneficially owned by them at the closing of the Merger with
such shares being released from such restrictions 180 days after the Effective Time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Merger Agreement, form of Alliqua Voting Agreement, form
of Adynxx Voting Agreement and form of Lock-Up Agreement have each been included as an exhibit to this Current Report to provide
the Company&rsquo;s stockholders with information regarding their terms. The assertions embodied in the representations and warranties
contained in the Merger Agreement are qualified by information in confidential disclosure schedules delivered by the parties in
connection with the signing of the Merger Agreement. Moreover, certain representations and warranties contained in these agreements
were made as of a specified date; may have been made for the purposes of allocating contractual risk between the parties to such
agreements; and may be subject to contractual standards of materiality different from what might be viewed as material to the Company&rsquo;s
stockholders. Accordingly, the representations and warranties in these agreements should not be relied on by any persons as characterizations
of the actual state of facts and circumstances of the Company or any other parties thereto at the time they were made and should
consider the information in these agreements in conjunction with the entirety of the factual disclosure about the Company in the
Company&rsquo;s public reports filed with the Securities and Exchange Commission, or the SEC. Information concerning the subject
matter of the representations and warranties may change after the date of these agreements, which subsequent information may or
may not be fully reflected in the Company&rsquo;s public disclosures. These agreements should not be read alone, but should instead
be read in conjunction with each other and other information regarding the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The preceding summary does not purport to be complete and is
qualified in its entirety by reference to the Merger Agreement, the form of Alliqua Voting Agreement, the form of Adynxx Voting
Agreement and the form of Lock-up Agreements, which are filed as Exhibits 2.1, 2.2, 2.3 and 10.1, respectively, and which are incorporated
herein by reference.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 5.01 Changes in Control of Registrant.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The completion of the Merger will constitute a change in control
of the Company. The Merger is described in Item 1.01 of this Form 8-K, which is incorporated by reference into this Item 5.01.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 8.01 Other Events.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On October 12, 2018, the Company issued a joint press release
with Adynxx relating to the Merger Agreement. A copy of the joint press release is attached hereto as Exhibit 99.1 and is incorporated
by reference herein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Additional Information about the Merger and Where to Find
It </I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In connection with the Merger, the Company intends to file relevant
materials with the SEC, including a proxy statement for its stockholders containing the information with respect to the Merger
and the Merger Agreement specified in Schedule 14A promulgated under the Exchange Act and describing the proposed Merger. The proxy
statement and other relevant materials (when they become available), and any other documents filed by the Company with the SEC,
may be obtained free of charge at the SEC website at www.sec.gov. In addition, investors and security holders may obtain free copies
of the documents filed with the SEC by the Company by directing a written request to: Alliqua BioMedical, Inc., 2150 Cabot Boulevard
West, Suite B, Langhorne, Pennsylvania 19047. Investors and security holders are urged to read the proxy statement and the other
relevant materials when they become available before making any voting or investment decision with respect to the Merger.</P>

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


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company and its directors and executive officers and Adynxx
and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders
of the Company in connection with the proposed transaction. Information regarding the special interests of these directors and
executive officers in the merger will be included in the proxy statement referred to above. Additional information regarding the
directors and executive officers of the Company is also included in the Company&rsquo;s Annual Report on Form 10-K for the year
ended December 31, 2017 and the proxy statement for the Company&rsquo;s 2018 Annual Meeting of Stockholders. These documents are
available free of charge at the SEC web site (<U>www.sec.gov</U>) and from the Company at the address described above.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Legal Notice Regarding Forward-Looking Statements</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This release contains forward-looking statements. Forward-looking
statements are generally identifiable by the use of words like &quot;may,&quot; &quot;will,&quot; &quot;should,&quot; &quot;could,&quot;
 &quot;expect,&quot; &quot;anticipate,&quot; &quot;estimate,&quot; &quot;believe,&quot; &quot;intend,&quot; or &quot;project&quot;
or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put
undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties outside
of our control that can make such statements untrue, including, but not limited to, the Merger not being timely completed, if completed
at all; prior to the completion of the Merger, the Company&rsquo;s or Adynxx&rsquo;s respective businesses experiencing disruptions
due to transaction-related uncertainty or other factors making it more difficult to maintain relationships with employees, business
partners or governmental entities; and the parties being unable to successfully implement integration strategies or realize the
anticipated benefits of the Merger, including the possibility that the expected synergies and cost reductions from the proposed
acquisition will not be realized or will not be realized within the expected time period. In addition, other factors that could
cause actual results to differ materially are discussed in the Company&rsquo;s filings with the SEC, including its most recent
Annual Report on Form 10-K filed with the SEC, and its most recent Form 10-Q filings with the SEC. Investors and security holders
are urged to read these documents free of charge on the SEC's web site at http://www.sec.gov. The Company undertakes no obligation
to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise, except
as required under applicable law.</P>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">(d)</TD><TD STYLE="text-align: justify">Exhibits</TD>
</TR></TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="width: 8%; border-bottom: black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><B>Exhibit</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><B>Number</B></P></TD>
    <TD NOWRAP STYLE="width: 2%; padding-top: 0.75pt; padding-right: 0.75pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 90%; border-bottom: black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Description</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-top: 0.75pt; padding-right: 0.75pt; text-align: center"><A HREF="tv504690_ex2-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">2.1*</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 0.75pt; padding-right: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 0.75pt; padding-right: 0.75pt"><A HREF="tv504690_ex2-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Agreement and Plan of Merger and Reorganization, dated October 11, 2018, by and among Alliqua BioMedical, Inc., Adynxx, Inc. and Embark Merger Sub Inc.</FONT></A></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-top: 0.75pt; padding-right: 0.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 0.75pt; padding-right: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 0.75pt; padding-right: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-top: 0.75pt; padding-right: 0.75pt; text-align: center"><A HREF="tv504690_ex2-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">2.2</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 0.75pt; padding-right: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 0.75pt; padding-right: 0.75pt"><A HREF="tv504690_ex2-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Form of Voting Agreement, by and between Alliqua BioMedical, Inc. and its directors and officers</FONT></A></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-top: 0.75pt; padding-right: 0.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 0.75pt; padding-right: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 0.75pt; padding-right: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-top: 0.75pt; padding-right: 0.75pt; text-align: center"><A HREF="tv504690_ex2-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">2.3</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 0.75pt; padding-right: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 0.75pt; padding-right: 0.75pt"><A HREF="tv504690_ex2-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Form of Voting Agreement, by and between Adynxx, Inc. and its directors, officers and certain of its stockholders</FONT></A></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-top: 0.75pt; padding-right: 0.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 0.75pt; padding-right: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 0.75pt; padding-right: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-top: 0.75pt; padding-right: 0.75pt; text-align: center"><A HREF="tv504690_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">10.1</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 0.75pt; padding-right: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 0.75pt; padding-right: 0.75pt"><A HREF="tv504690_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Form of Lock-Up Agreement</FONT></A></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-top: 0.75pt; padding-right: 0.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 0.75pt; padding-right: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 0.75pt; padding-right: 0.75pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-top: 0.75pt; padding-right: 0.75pt; text-align: center"><A HREF="tv504690_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">99.1</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 0.75pt; padding-right: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 0.75pt; padding-right: 0.75pt"><A HREF="tv504690_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Press Release, dated October 12, 2018</FONT></A></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>*The schedules and exhibits to the merger agreement have
been omitted pursuant to Item 601(b)(2) of Regulation S-K. A copy of any omitted schedule and/or exhibit will be furnished to the
Securities and Exchange Commission upon request.</I></P>

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


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

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

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>ALLIQUA BIOMEDICAL, INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 45%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Dated: October 12, 2018</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Joseph Warusz</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Joseph Warusz</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: &nbsp;&nbsp;Chief Financial Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<DOCUMENT>
<TYPE>EX-2.1
<SEQUENCE>2
<FILENAME>tv504690_ex2-1.htm
<DESCRIPTION>EXHIBIT 2.1
<TEXT>
<HTML>
<HEAD>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 2.1</B></P>

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Dated as of October 11, 2018</P>

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


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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%"><FONT STYLE="font-size: 10pt">Exhibit A</FONT></TD>
    <TD STYLE="width: 85%"><FONT STYLE="font-size: 10pt">Certain Definitions</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Exhibit B-1</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Company Voting Agreement</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Exhibit B-2</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Parent Voting Agreement</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Exhibit C-1</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Certificate of Merger</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Exhibit C-2</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Certificate of Incorporation</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Exhibit D</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of FIRPTA Notice</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Exhibit E</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Lock-up Agreement</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>THIS AGREEMENT AND PLAN OF MERGER AND REORGANIZATION</B>,
is made and entered into as of October 11, 2018 (this &ldquo;<B><I>Agreement</I></B>&rdquo;), by and among <B>ALLIQUA BIOMEDICAL,
INC.</B> a Delaware corporation (&ldquo;<B><I>Parent</I></B>&rdquo;), <B>EMBARK MERGER SUB INC.</B>, a Delaware corporation (&ldquo;<B><I>Merger
Sub</I></B>&rdquo;) and <B>ADYNXX, INC.</B>, a Delaware corporation (&ldquo;<B><I>Company</I></B>&rdquo;).&nbsp;&nbsp;Parent, Merger
Sub and Company are each a &ldquo;<B><I>Party</I></B>&rdquo; and referred to collectively herein as the &ldquo;<B><I>Parties</I></B>.&rdquo;&nbsp;&nbsp;Certain
capitalized terms used in this Agreement are defined in <B><U>Exhibit A</U></B>.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>WHEREAS</B>, this Agreement contemplates a merger of the
Merger Sub with and into Company, with Company remaining as the surviving entity after the merger (the &ldquo;<B><I>Merger</I></B>&rdquo;),
whereby the Company Stockholders will receive Parent Common Stock in exchange for their Company Capital Stock;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>WHEREAS</B>, the Parties intend, by approving resolutions
authorizing this Agreement, to adopt this Agreement as a plan of reorganization within the meaning of Section 368(a) of the Internal
Revenue Code of 1986, as amended (the &ldquo;<B><I>Code</I></B>&rdquo;), and the regulations thereunder, and to cause the Merger
to qualify as a reorganization under the provisions of Section 368(a) of the Code;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>WHEREAS</B>, pursuant to the terms and conditions of this
Agreement, the holders of the outstanding equity of Company immediately prior to the Effective Time will own approximately 86%
of the outstanding equity of Parent immediately following the Effective Time and the holders of the outstanding equity of Parent
immediately prior to the Effective Time will own approximately 14 % of the outstanding equity of Parent immediately following the
Effective Time;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>WHEREAS</B>, the board of directors of Parent (i) has determined
that the Merger is fair to, and in the best interests of, Parent and its stockholders, (ii) has approved this Agreement, the Merger,
the issuance of shares of Parent Common Stock to the Company Stockholders pursuant to the terms of this Agreement, the change of
control of Parent, and the other actions contemplated by this Agreement,&nbsp;&nbsp;(iii) has approved the Parent Charter Amendment
and Reverse Split; and (iv) has determined to recommend that the stockholders of Parent vote to approve the Parent Stockholder
Approval Matters and such other actions as contemplated by this Agreement;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>WHEREAS</B>, the board of directors of Merger Sub (i) has
determined that the Merger is fair to, and in the best interests of, Merger Sub and its sole stockholder, (ii) has approved this
Agreement, the Merger, and the other actions contemplated by this Agreement and has deemed this Agreement advisable and (iii) has
determined to recommend that its sole stockholder vote to adopt this Agreement and thereby approve the Merger and such other actions
as contemplated by this Agreement;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>WHEREAS</B>, the board of directors of Company (i) has determined
that the Merger is advisable and fair to, and in the best interests of, Company and its stockholders, (ii) has approved this Agreement,
the Merger and the other transactions contemplated by this Agreement and the agreements entered into in connection herewith (the
 &ldquo;<B><I>Transactions</I></B>&rdquo;) and has deemed this Agreement advisable and (iii) has determined to recommend that the
Company Stockholders vote or consent to approve the Company Stockholder Matters;</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>WHEREAS</B>, as a condition to the willingness of, and an
inducement to each of Parent and the Company to enter into this Agreement, contemporaneously with the execution and delivery of
this Agreement, each of the Company Voting Agreement Signatories is entering into a voting agreement, in favor of Company, in substantially
the form of <B><U>Exhibit B-1</U></B> attached hereto (the &ldquo;<B><I>Company Voting Agreements</I></B>&rdquo;), and each of
the Parent Voting Agreement Signatories is entering into a voting agreement, in favor of Parent, in substantially the form of <B><U>Exhibit
B-2</U></B> attached hereto (individually, the &ldquo;<B><I>Parent Voting Agreements</I></B>&rdquo; and collectively, the &ldquo;<B><I>Voting
Agreement</I></B>&rdquo;) under which the Voting Agreement Signatories will agree, with respect to a portion of the shares of Company
Capital Stock or Parent Capital Stock, as applicable, held thereby, to vote as stockholders in favor of the Company Stockholder
Matters or Parent Stockholder Approval Matters, as applicable, pursuant to the terms and conditions of the Voting Agreements, as
applicable; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>WHEREAS</B>, as a condition to the willingness of, and an
inducement to each of Parent and Company to enter into this Agreement, contemporaneously with the execution and delivery of this
Agreement, each of the Lock-up Signatories is entering into a lock-up agreement, in substantially the form of <B><U>Exhibit E</U></B>
attached hereto (the &ldquo;<B><I>Lock-up Agreements</I></B>&rdquo;) with respect to the shares of Parent Common Stock held thereby
from time to time;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>NOW, THEREFORE</B>, in consideration of the foregoing and
the representations, warranties and covenants herein contained, and for other good and valuable consideration, the receipt, adequacy
and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, hereby agree as follows:</P>

<P STYLE="color: #010000; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="color: #010000; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-transform: uppercase; text-align: center">Article
I.</P>

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

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

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 1.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>The
Merger</U></B>.&nbsp;&nbsp;Subject to and upon the terms and conditions of this Agreement and Delaware General Corporation Law
(&ldquo;<B><I>Delaware Law</I></B>&rdquo;), Merger Sub will be merged with and into Company at the Effective Time.&nbsp;&nbsp;From
and after the Effective Time, the separate corporate existence of Merger Sub will cease, and Company will continue as the surviving
corporation.&nbsp;&nbsp;Company as the surviving corporation after the Merger is hereinafter sometimes referred to as the &ldquo;<B><I>Surviving
Corporation</I></B>.&rdquo;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 1.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Closing;
Effective Time</U></B>.&nbsp;&nbsp;Unless this Agreement has been terminated and the Transactions herein contemplated have been
abandoned pursuant to Section 7.01 of this Agreement, and subject to the satisfaction or waiver of the conditions set forth in
Article VI of this Agreement, the consummation of the Merger (the &ldquo;<B><I>Closing</I></B>&rdquo;) will take place at the offices
of Haynes and Boone, LLP, 30 Rockefeller Plaza, 26<SUP>th</SUP> Floor, New York, NY 10112, at 10:00 a.m. on a date to be specified
by the Parties which will be no later than three Business Days after satisfaction or waiver of the conditions set forth in Article
VI (other than those conditions that by their nature are to be satisfied at the Closing, but subject to the satisfaction or waiver
of each such conditions), or at such other time, date and place as Parent and Company may mutually agree in writing.&nbsp;&nbsp;The
date on which the Closing actually takes place is referred to as the &ldquo;<B><I>Closing Date</I></B>&rdquo;.&nbsp;&nbsp;On the
Closing Date, the Parties will cause the Merger to be consummated by executing and filing a Certificate of Merger in accordance
with the relevant provisions of Delaware Law (the &ldquo;<B><I>Certificate of Merger</I></B>&rdquo;), in substantially the form
of <B><U>Exhibit C-1</U></B> attached hereto, together with any required related certificates, with the Secretary of State of the
State of Delaware, in such form as required by, and executed in accordance with the relevant provisions of, Delaware Law.&nbsp;&nbsp;The
Merger will become effective at the time of the filing of such Certificate of Merger with the Secretary of State of the State of
Delaware or at such later time as may be specified in such Certificate of Merger with the consent of Parent and Company (the time
as of which the Merger becomes effective being referred to as the &ldquo;<B><I>Effective Time</I></B>&rdquo;).</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>


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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 1.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Effect
of the Merger</U></B>.&nbsp;&nbsp;At the Effective Time, the effect of the Merger will be as provided in this Agreement, the Certificate
of Merger and the applicable provisions of Delaware Law.&nbsp;&nbsp;Without limiting the generality of the foregoing, and subject
thereto, at the Effective Time all the property, rights, privileges, powers and franchises of Company will vest in the Surviving
Corporation, and all debts, liabilities, obligations and duties of Company will become the debts, liabilities, obligations and
duties of the Surviving Corporation.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 1.04&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Certificate
of Incorporation; Bylaws; Reverse Split; Parent Name Change</U></B>.&nbsp;&nbsp;Unless otherwise determined by Parent and Company:</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
certificate of incorporation of Company will be amended and restated at the Effective Time to read in its entirety as set forth
on <B><U>Exhibit C-2</U></B> hereto, and, as so amended and restated, will be the certificate of incorporation of the Surviving
Corporation until thereafter amended as provided by Delaware Law and such certificate of incorporation;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
bylaws of Company will be amended and restated to read in the form of the bylaws of Merger Sub, as in effect on the date hereof
and, as so amended and restated, will be the bylaws of the Surviving Corporation until thereafter amended as provided by Delaware
Law, the certificate of incorporation of the Surviving Corporation and such bylaws; and</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>immediately
prior to the Effective Time, Parent will amend its certificate of incorporation and take all other actions necessary to (i) cause
its name to be changed to Adynxx, Inc. and (ii) effect the Reverse Split to the extent applicable.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 1.05&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Directors
and Officers of the Surviving Corporation and Parent</U></B>.&nbsp;&nbsp;Unless otherwise determined by Parent and Company, the
parties will take all action such that:</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>unless
otherwise determined by the Company prior to the Effective Time, the directors of the Company immediately prior to the Effective
Time will be the directors of the Surviving Corporation immediately following the Effective Time until such time as their respective
successors are duly elected or appointed;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>unless
otherwise determined by the Company prior to the Effective Time, the officers of Company immediately prior to the Effective Time
will be the officers of the Surviving Corporation immediately following the Effective Time until such time as their respective
successors are duly elected or appointed; and</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
directors and officers of Parent immediately following the Effective Time shall be elected and appointed in accordance with Section
5.11.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 1.06&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Conversion
of Company Securities</U></B>.&nbsp;&nbsp;At the Effective Time, by virtue of the Merger and without any action on the part of
Parent, Merger Sub, Company, any stockholder of the Company or any other Person:</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Conversion
of Company Capital Stock</U>.&nbsp;&nbsp;Each share of Company Capital Stock issued and outstanding immediately prior to, and contingent
upon the occurrence of, the Effective Time (excluding any shares to be canceled pursuant to Section 1.06(b) or Section 1.06(c)
and any Dissenting Shares to be treated in accordance with Section 1.07) will be converted into and represent the right to receive
a number of shares of validly issued, fully paid and nonassessable shares of common stock of Parent, $0.001 par value per share
(&ldquo;<B><I>Parent Common Stock</I></B>&rdquo;) equal to the Exchange Ratio (the &ldquo;<B><I>Merger Consideration</I></B>&rdquo;),
with any resulting fractional shares to be rounded down to the nearest whole share.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Merger
Sub Common Stock</U>.&nbsp;&nbsp;Each share of Merger Sub Common Stock then outstanding will be converted into one share of common
stock of the Surviving Corporation.&nbsp;&nbsp;Each stock certificate of Merger Sub evidencing ownership of any such shares will,
as of the Effective Time, evidence ownership of such shares of common stock of the Surviving Corporation.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Cancellation</U>.&nbsp;&nbsp;Each
share of Company Capital Stock held in the treasury of Company and each share of Company Capital Stock owned by Parent or by any
direct or indirect wholly owned Subsidiary of Company or Parent immediately prior to the Effective Time will, by virtue of the
Merger and without any action on the part of the holder thereof, cease to be outstanding, be canceled and extinguished without
any conversion thereof and without payment of any consideration therefor and cease to exist.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Company
Options</U>.&nbsp;&nbsp;Each Company Option under the Company Option Plan that is outstanding and unexercised as of immediately
prior to the Effective Time will be subject to Section 5.16.&nbsp;&nbsp;Prior to the Closing Date, and subject to the review and
approval of Parent, Company will take all actions necessary to effect the transactions contemplated by this Section 1.06(d) under
applicable Legal Requirements and all such Company Options, including delivering all notices required thereby and, if required,
entering into termination agreements with the holders of such Company Options.&nbsp;&nbsp;In addition, promptly after the date
of this Agreement, and in any event within ten (10) Business Days before the Effective Time, and subject to the review and approval
of Parent, Company shall deliver notice to all holders of Company Options setting forth such holders&rsquo; rights pursuant to
this Agreement.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Company
Warrants.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(i)</FONT></TD><TD>Each Company Warrant that is outstanding and unexercised as of immediately prior to the Effective Time will be subject to Section
5.17.&nbsp;&nbsp;</TD></TR></TABLE>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(ii)</FONT></TD><TD>Prior to the Closing Date, and subject to the review and approval of Parent, Company will take all actions necessary to effect
the transactions contemplated by this Section 1.06(e) under applicable Legal Requirements and all Company Warrants, including delivering
all notices required thereby, and if required, entering into termination agreements with holders of such Company Warrants.&nbsp;&nbsp;In
addition, if required by any applicable Company Warrant, promptly after the date of this Agreement, and in any event within ten
(10) Business Days before the Effective Time, and subject to the review and approval of Parent, Company shall deliver notice to
the holders of such Company Warrants setting forth such holders&rsquo; rights pursuant to this Agreement.</TD></TR></TABLE>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Fractional
Shares</U>.&nbsp; No fraction of a share of Parent Common Stock will be issued in connection with the Merger, and any fractional
shares will be rounded down to the nearest whole share.&nbsp;&nbsp; Company Stockholders will not be entitled to any voting rights,
rights to receive any dividends or distributions or other rights as a stockholder of Parent with respect to any such fraction of
a share that would have otherwise been issued to such Company Stockholder.&nbsp;&nbsp;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Restrictions</U>.&nbsp;&nbsp;If
any shares of Company Capital Stock outstanding immediately prior to the Effective Time are unvested or are subject to a repurchase
option, risk of forfeiture or other condition under any applicable restricted stock purchase agreement or other Contract with Company
or under which Company has any rights, then the shares of Parent Common Stock issued in exchange for such shares of Company Capital
Stock, subject to Section 5.16,&nbsp;&nbsp;will also be unvested and subject to the same repurchase option, risk of forfeiture
or other condition, and the book-entry representing such shares of Parent Common Stock may accordingly be marked with appropriate
legends.&nbsp;&nbsp;Company will take all action that may be necessary to ensure that, from and after the Effective Time, Parent
is entitled to exercise any such repurchase option or other right set forth in any such restricted stock purchase agreement or
other Contract.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 1.07&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Dissenting
Shares</U></B>.&nbsp;&nbsp;For purposes of this Agreement, &ldquo;<B><I>Dissenting Shares</I></B>&rdquo; mean any shares of Company
Capital Stock outstanding immediately prior to the Effective Time and held by a person who has not voted such shares in favor of
the adoption of this Agreement and the Merger, has properly demanded appraisal for such shares in accordance with Delaware Law
and has not effectively withdrawn or forfeited such demand for appraisal.&nbsp;&nbsp;Notwithstanding anything to the contrary contained
herein, Dissenting Shares will not be converted into a right to receive the Merger Consideration unless such holder fails to perfect
or withdraws or otherwise loses its rights to appraisal or it is determined that such holder does not have appraisal rights in
accordance with Delaware Law.&nbsp;&nbsp;If after the Effective Time, such holder fails to perfect or withdraws or loses its right
to appraisal, or if it is determined that such holder does not have appraisal rights, such shares will be treated as if they had
been converted as of the Effective Time into the right to receive the Merger Consideration (if any).&nbsp;&nbsp;Company will give
Parent prompt notice of any demands received by Company for appraisal of shares of Company Capital Stock, withdrawals of such demands,
and any other instruments that relate to such demands received by Company. Company shall control all negotiations and proceedings
with respect to such demands, <I>provided</I>, <I>however</I>, (i) Company shall keep Parent reasonably apprised of all material
events, circumstance or changes with respect to any such demand following the making thereof (ii) the Company will not, except
with prior written consent of Parent (such consent not to be unreasonably withheld, conditioned or delayed), make any payment with
respect to, or settle or offer to settle, any such demands, unless and to the extent required to do so under applicable Legal Requirements.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 1.08&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Exchange
Of Certificates</U></B>.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Exchange
Agent</U>.&nbsp;&nbsp;On or prior to the Closing Date, Parent will select Parent&rsquo;s transfer agent or another reputable bank
or trust company reasonably acceptable to Company to act as exchange agent in connection with the Merger (the &ldquo;<B><I>Exchange
Agent</I></B>&rdquo;).&nbsp;&nbsp;As soon as practicable after the Effective Time, Parent will issue and cause to be deposited
with the Exchange Agent non-certificated shares of Parent Common Stock represented by book-entry issuable pursuant to Section 1.06(a).&nbsp;&nbsp;The
shares of Parent Common Stock so deposited with the Exchange Agent, together with any dividends or distributions received by the
Exchange Agent with respect to such shares, are referred to collectively as the &ldquo;<B><I>Exchange Fund</I></B>.&rdquo; For
purposes of clarity, the Parties acknowledge that such shares of Parent Common Stock constituting the Exchange Fund are &ldquo;restricted
securities&rdquo; within the meaning of the federal securities laws and may be annotated with an appropriate restrictive legend
in accordance with Section 5.26.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Exchange
Procedures</U>.&nbsp;&nbsp;As soon as reasonably practicable after the Effective Time, Parent will cause the Exchange Agent to
mail to the record holders of Company Stock Certificates (i) a letter of transmittal in customary form and containing such provisions
on which Parent and the Company may mutually agree (and which will include a provision confirming that delivery of Company Stock
Certificates will be effected, and risk of loss and title to Company Stock Certificates will pass, only upon delivery of such Company
Stock Certificates to the Exchange Agent), and (ii) instructions for use in effecting the surrender of Company Stock Certificates
in exchange for non-certificated shares of Parent Common Stock represented by book-entry issuable pursuant to Section 1.06(a).&nbsp;&nbsp;Upon
surrender of a Company Stock Certificate to the Exchange Agent for exchange, together with a duly executed letter of transmittal
and such other documents as may be reasonably required by the Exchange Agent or Parent, (A) the holder of such Company Stock Certificate
will be entitled to receive in exchange therefor non-certificated shares of Parent Common Stock represented by book-entry (via
DRS) equal to the number of whole shares of Parent Common Stock that such holder has the right to receive pursuant to the provisions
of Section 1.06(a), and (B) the Company Stock Certificate so surrendered will be canceled.&nbsp;&nbsp;Until surrendered as contemplated
by this Section 1.08(b), each Company Stock Certificate held by a Company Stockholder will be deemed, from and after the Effective
Time, to represent only the right to receive the Merger Consideration.&nbsp;&nbsp;If any Company Stock Certificate have been lost,
stolen or destroyed, the Exchange Agent will require the owner of such lost, stolen or destroyed Company Stock Certificate to provide
an appropriate affidavit and to deliver a bond as indemnity against any claim that may be made against the Exchange Agent, Parent
or the Surviving Corporation with respect to such Company Stock Certificate.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Distributions
with Respect to Unexchanged Shares</U>.&nbsp;&nbsp;No dividends or other distributions declared or made with respect to Parent
Common Stock with a record date after the Effective Time will be paid to the holder of any unsurrendered Company Stock Certificate
with respect to the shares of Parent Common Stock that such holder has the right to receive in the Merger until such holder surrenders
such Company Stock Certificate in accordance with this Section 1.08 (at which time such holder will be entitled, subject to the
effect of applicable escheat or similar laws, to receive all such dividends and distributions, without interest).</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Transfers
of Ownership</U>.&nbsp;&nbsp;If any shares of Parent Common Stock are to be issued in a name other than that in which the Company
Stock Certificate surrendered in exchange therefor is registered, it will be a condition of the issuance thereof that the Company
Stock Certificate so surrendered will be properly endorsed and otherwise in proper form for transfer and that the Person requesting
such exchange will have paid to Parent or any Person designated by it any transfer or other taxes required by reason of the issuance
of the shares of Parent Common Stock in any name other than that of the registered holder of the Company Stock Certificate surrendered,
or established to the satisfaction of Parent or any agent designated by it that such tax has been paid or is not payable.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Unclaimed
Portion of the Exchange Fund</U>.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(i)</FONT></TD><TD>Any portion of the Exchange Fund that remains undistributed to holders of Company Stock Certificates as of the date 180 days
after the date on which the Merger becomes effective will be delivered to Parent upon demand, and any holders of Company Stock
Certificates who have not theretofore surrendered their Company Stock Certificates in accordance with this Section 1.08 will thereafter
look only to Parent for satisfaction of their claims for Parent Common Stock and any dividends or distributions with respect to
Parent Common Stock.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(ii)</FONT></TD><TD>Neither Parent nor the Surviving Corporation will be liable to any holder or former holder of Company Capital Stock or to any
other Person with respect to any shares of Parent Common Stock (or dividends or distributions with respect thereto), or for any
cash amounts, delivered to any public official pursuant to any applicable abandoned property law, escheat law or similar Legal
Requirement.</TD></TR></TABLE>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Withholding
Rights</U>.&nbsp;&nbsp;Each of the Exchange Agent, Parent and the Surviving Corporation will be entitled to deduct and withhold
from any consideration payable or otherwise deliverable pursuant to this Agreement to any holder or former holder of Company Capital
Stock such amounts as are required to be deducted or withheld therefrom under the Code or any provision of state, local or foreign
tax law or under any other applicable Legal Requirement.&nbsp;&nbsp;To the extent such amounts are so deducted or withheld and
timely paid to the appropriate Governmental Body, such amounts will be treated for all purposes under this Agreement as having
been paid to the Person to whom such amounts would otherwise have been paid.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 1.09&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Stock
Transfer Books</U></B>.&nbsp;&nbsp;At the Effective Time:&nbsp;&nbsp;(a) all shares of Company Capital Stock outstanding immediately
prior to the Effective Time will automatically be canceled and retired and cease to exist, and all holders of Company Capital Stock
that were outstanding immediately prior to the Effective Time will cease to have any rights as stockholders of Company; and (b)
the stock transfer books of Company will be closed with respect to all shares of Company Capital Stock outstanding immediately
prior to the Effective Time.&nbsp;&nbsp;No further transfer of any such shares of Company Capital Stock will be made on such stock
transfer books after the Effective Time.&nbsp;&nbsp;If, after the Effective Time, a valid certificate previously representing any
shares of Company Capital Stock (a &ldquo;<B><I>Company Stock Certificate</I></B>&rdquo;) is presented to the Exchange Agent or
to the Surviving Corporation or Parent, such Company Stock Certificate will be canceled and exchanged as provided in Sections 1.06
and 1.08.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 1.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>No
Further Rights</U></B>.&nbsp;&nbsp;The Merger Consideration delivered upon the surrender for exchange of Company Capital Stock
in accordance with the terms of this Agreement will be deemed to have been issued in full satisfaction of all rights pertaining
to such shares.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 1.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Tax
Consequences</U></B>.&nbsp;&nbsp;For United States federal income tax purposes, the Merger is intended to constitute a reorganization
within the meaning of Section 368(a) of the Code.&nbsp;&nbsp;The parties to this Agreement hereby adopt this Agreement as a &ldquo;plan
of reorganization&rdquo; within the meaning of Sections 1.368-2(g) of the Treasury Regulations, and will report consistently with
the foregoing, including by filing the statement required by Section 1.368-3(a) of the Treasury Regulations.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 1.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Parent
Common Stock<U>. </U></B>The shares of Parent Common Stock issued pursuant to the terms of this Agreement will be issued in a transaction
exempt from registration under the Securities Act by reason of Section 4(a)(2) thereof and/or Regulation D promulgated under the
Securities Act&nbsp;and may not be re-offered or resold other than in conformity with the registration requirements of the Securities
Act and such other applicable rules and regulations or pursuant to an exemption therefrom.&nbsp;&nbsp;Until the resale by the holders
of Company Capital Stock of their shares of Parent Common Stock has become registered under the Securities Act, or otherwise transferable
pursuant to an exemption from such registration otherwise required thereunder, the shares of Parent Common Stock issued pursuant
to this Agreement shall be characterized as &ldquo;restricted securities&rdquo; under the Securities Act and, if certificated,
shall bear the following legend (or if held in book entry form, will be noted with a similar restriction):</P>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&ldquo;THE SHARES OF STOCK REPRESENTED BY THIS CERTIFICATE
HAVE BEEN ACQUIRED FOR INVESTMENT PURPOSES ONLY, AND THE RESALE OF SUCH SHARES HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT
OF 1933.&nbsp; SUCH SHARES MAY NOT BE RESOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION WITHOUT AN EXEMPTION
UNDER THE SECURITIES ACT.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Parent agrees to cooperate in a timely manner
with the holders of Registrable Securities to remove any restrictive legends or similar transfer instructions from the Registrable
Securities upon the registration of the Registrable Securities or in the event that the Registrable Securities are otherwise transferable
pursuant to an exemption from registration otherwise required thereunder.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 1.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Additional
Actions</U></B>.&nbsp;&nbsp;If, at any time after the Effective Time, any further action is necessary, desirable or proper to carry
out the purposes of this Agreement and to vest the Surviving Corporation with full right, title and possession to all assets, property,
rights, privileges, powers and franchises of Company and Merger Sub, the Surviving Corporation and its proper officers and directors
or their designees are fully authorized (to the fullest extent allowed under applicable Legal Requirements) to execute and deliver,
in the name and on behalf of either Company or Merger Sub, all deeds, bills of sale, assignments and assurances and do, in the
name and on behalf of Company or Merger Sub, all other acts and things necessary, desirable or proper to vest, perfect or confirm
its right, title or interest in, to or under any of the rights, privileges, powers, franchises, properties or assets of Company
or Merger Sub, as applicable, and otherwise to carry out the purposes of this Agreement.</P>

<P STYLE="color: #010000; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="color: #010000; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">Article
II.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">REPRESENTATIONS
AND WARRANTIES OF COMPANY</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Except as set forth in the corresponding sections or subsections
of the Company Disclosure Schedule, the Company represents and warrants to Parent and Merger Sub as follows:</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 2.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Organization
and Qualification; Charter Documents</U></B>.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Part
2.01(a) of the Company Disclosure Schedule identifies each Subsidiary of Company and indicates its jurisdiction of organization.&nbsp;&nbsp;Neither
Company nor any of the Entities identified in Part 2.01(a) of the Company Disclosure Schedule owns any capital stock of, or any
equity interest of any nature in, any other Entity, other than the Entities identified in Part 2.01(a) of the Company Disclosure
Schedule.&nbsp;&nbsp;None of the Acquired Companies has agreed or is obligated to make, or is bound by any Contract under which
it may become obligated to make, any future investment in or capital contribution to any other Entity.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Each
of the Acquired Companies is a corporation, limited liability company or similar entity duly organized, validly existing and, in
jurisdictions that recognize the concept, is in good standing under the laws of the jurisdiction of its incorporation, formation
or other establishment, as applicable, and has all necessary corporate power and authority:&nbsp;&nbsp;(i) to conduct its business
in the manner in which its business is currently being conducted; (ii) to own and use its assets in the manner in which its assets
are currently owned and used; and (iii) to perform its obligations under all Contracts by which it is bound.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Each
of the Acquired Companies (in jurisdictions that recognize the following concepts) is qualified to do business as a foreign corporation,
and is in good standing, under the laws of all jurisdictions where the nature of its business requires such qualification except
where the failure to be so qualified would not, individually or in the aggregate, have a Company Material Adverse Effect.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Company
has made available to Parent accurate and complete copies of:&nbsp;&nbsp;(a) the certificate of incorporation, bylaws and other
charter and organizational documents of each Acquired Company, including all amendments thereto; (b) the stock records of each
Acquired Company; and (c) the minutes and other records of the meetings and other proceedings (including any actions taken by written
consent or otherwise without a meeting) of the stockholders of each Acquired Company, the board of directors of each Acquired Company
and all committees of the board of directors of each Acquired Company.&nbsp;&nbsp;The books of account, stock records, minute books
and other records of the Acquired Companies are accurate, up-to-date and complete in all material respects, and have been maintained
in accordance with prudent business practices.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 2.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Capital
Structure</U></B>.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
authorized capital stock of Company consists of (i) 148,000,000 shares of Company Common Stock, par value $0.001 per share, of
which 19,548,969 shares are issued and outstanding as of the date of this Agreement and (ii) 108,071,445 shares of Company Preferred
Stock, par value $0.001 per share, (A) 57,002,183 shares are designated as Series A Preferred Stock, of which 56,672,658 shares
are issued and outstanding as of the date of this Agreement and (B) 51,069,262 shares of which are designated as Series B Preferred
Stock, of which 51,069,262 shares are issued and outstanding as of the date of this Agreement.&nbsp;&nbsp;No shares of capital
stock are held in Company&rsquo;s treasury as of the date of this Agreement.&nbsp;&nbsp;All outstanding shares of Company Capital
Stock are duly authorized, validly issued, fully paid and non-assessable and were issued in compliance with all applicable federal
and state securities Legal Requirements.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>As
of the date of this Agreement, (i) 19,222,032 shares of Company Common Stock are reserved for issuance to employees, consultants
and non-employee directors pursuant to the Company Option Plan, under which options were outstanding for an aggregate of 19,222,027
shares of Company Common Stock and five shares or options to purchase shares of Company Common Stock remain available for grant
or issuance and (ii) Company has reserved zero shares of Company Common Stock and 329,525 shares of Company Preferred Stock for
issuance to holders of Company Warrants upon their exercise. All shares of Company Common Stock or Company Preferred Stock subject
to issuance as aforesaid, upon issuance on the terms and conditions specified in the instruments pursuant to which they are issuable,
would be duly authorized, validly issued, fully paid and non-assessable.&nbsp;&nbsp;Part 2.02(b) of the Company Disclosure Schedule
lists each holder of Company Capital Stock and the number and type of shares of Company Capital Stock held by such holder, each
outstanding Company Option and Company Warrant, the name of the holder of such Company Option or Company Warrant, the number of
shares subject to such Company Option or Company Warrant, the exercise price of such Company Option or Company Warrant, the vesting
schedule of such Company Option or Company Warrant and whether the exercisability of such Company Option or Company Warrant will
be accelerated in any way by the transactions contemplated by this Agreement, indicating the extent of acceleration, if any. Except
in the case of death or disability, all Company Options terminate if not exercised within 90 days following cessation of service.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Except
as set forth on Part 2.02(c) of the Company Disclosure Schedule:&nbsp;&nbsp;(i) none of the outstanding shares of Company Capital
Stock are entitled or subject to any preemptive right, right of repurchase or forfeiture, right of participation, right of maintenance
or any similar right; (ii) none of the outstanding shares of Company Capital Stock are subject to any right of first refusal in
favor of Company or any other Person for which a waiver of such right of first refusal shall have not been obtained; (iii) there
are no outstanding bonds, debentures, notes or other indebtedness of the Acquired Companies having a right to vote on any matters
on which the Company Stockholders have a right to vote; (iv) there is no Contract to which the Acquired Companies are a party relating
to the voting or registration of, or restricting any Person from purchasing, selling, pledging or otherwise disposing of (or from
granting any option or similar right with respect to), any shares of Company Capital Stock.&nbsp;&nbsp;Except as set forth on Part
2.02(c) of the Company Disclosure Schedule, none of the Acquired Companies is under any obligation, or is bound by any Contract
pursuant to which it may become obligated, to repurchase, redeem or otherwise acquire any outstanding shares of Company Capital
Stock or other securities.&nbsp;&nbsp;Each share of Series A Preferred Stock is convertible into one share of Company Common Stock.
Each share of Series B Preferred Stock is convertible into one share of Company Common Stock.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 2.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Authority;
Non-Contravention; Approvals</U></B>.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Company
has the requisite corporate power and authority to enter into this Agreement and, subject to the Company Stockholder Approval,
to perform its obligations hereunder and to consummate the Transactions.&nbsp;&nbsp;The execution and delivery of this Agreement
by Company, the performance by Company of its obligations hereunder and the consummation by Company of the Transactions have been
duly authorized by all necessary corporate action on the part of Company, subject only to the Company Stockholder Approval and
the filing and recordation of the Certificate of Merger pursuant to Delaware Law.&nbsp;&nbsp;The affirmative vote of the holders
of (i) a majority of the outstanding shares of all Company Capital Stock voting together on an as converted to Company Common Stock
basis and (ii) a majority of the outstanding shares of Company Preferred Stock voting together on an as converted to Company Common
Stock basis (the &ldquo;<B><I>Company Stockholder Approval</I></B>&rdquo;), is the only vote of the holders of any class or series
of Company Capital Stock necessary to adopt this Agreement and approve the Merger and the other Transactions.&nbsp;&nbsp;This Agreement
has been duly executed and delivered by Company and, assuming the due authorization, execution and delivery by Parent and Merger
Sub, constitutes the valid and binding obligation of Company, enforceable in accordance with its terms, except as enforceability
may be limited by bankruptcy and other similar laws and general principles of equity.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Company&rsquo;s
board of directors, by resolutions duly adopted by vote at a meeting of all directors of Company duly called and held and, as of
the date of this Agreement, not subsequently rescinded or modified in any way, has, as of the date of this Agreement (i) approved
this Agreement and the Merger, and determined that this Agreement and the Transactions, including the Merger, are fair to, and
in the best interests of the Company Stockholders, and (ii) resolved to recommend that the Company Stockholders adopt this Agreement
and approve the Merger and all other Transactions and directed that such matters be submitted for consideration of the Company
Stockholders at the Company Stockholders&rsquo; Meeting.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
execution and delivery of this Agreement by Company does not, and the performance of this Agreement by Company will not, (i) conflict
with or violate the certificate of incorporation or bylaws of Company or the equivalent organizational documents of any of its
Subsidiaries, (ii) subject to obtaining the Company Stockholder Approval and compliance with the requirements set forth in Section
2.03(d) below, conflict with or violate any Legal Requirement applicable to Company or any of its Subsidiaries or by which its
or any of their respective properties is bound or affected, except for any such conflicts or violations that would not, individually
or in the aggregate, have a Company Material Adverse Effect or would not prevent or materially delay the consummation of the Merger,
(iii) require an Acquired Company to make any filing with or give any notice to a Person, to obtain any Consent from a Person,
or result in any breach of or constitute a default (or an event that with notice or lapse of time or both would become a default)
under, or impair Company&rsquo;s rights or alter the rights of obligations of any third party under, or give to others any rights
of termination, amendment, acceleration or cancellation of, or result in the creation of a lien or encumbrance on any of the properties
or assets of Company or any of its Subsidiaries pursuant to, any Company Contract (as defined below), except as would not, individually
or in the aggregate, have a Company Material Adverse Effect or prevent or materially delay the Merger or (iv) result in the creation
of any Encumbrance (other than Permitted Liens) on any of the properties or assets of any Acquired Company, except as would not,
individually or in the aggregate, have a Company Material Adverse Effect or prevent or materially delay the Merger.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>No
material consent, approval, order or authorization of, or registration, declaration or filing with any Governmental Body is required
by or with respect to the Company in connection with the execution and delivery of this Agreement or the consummation of the Transactions,
except for (i) the filing of the Certificate of Merger with the Secretary of State of the State of Delaware; (ii) the filing of
the Proxy Statement with the Securities and Exchange Commission (&ldquo;<B><I>SEC</I></B>&rdquo;) in accordance with the Securities
Exchange Act of 1934, as amended (the &ldquo;<B><I>Exchange Act</I></B>&rdquo;); (iii) such Consents, orders, registrations, declarations
and filings as may be required under applicable federal and state securities laws and (iv) such Consents as may be required under
(A) the HSR Act or (B) any other Legal Requirements that are designed or intended to prohibit, restrict, or regulate actions having
the purpose or effect of monopolization or restraint of trade or significant impediments or lessening of competition or creation
or strengthening of a dominant position through merger or acquisition (&ldquo;<B><I>Foreign Antitrust Laws</I></B>&rdquo; and,
together with the HSR Act, the &ldquo;<B><I>Antitrust Laws</I></B>&rdquo;), in any case that are applicable to the transactions
contemplated by this Agreement.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 2.04&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Anti-Takeover
Statutes Not Applicable</U></B>.&nbsp;&nbsp;The board of directors of Company has taken all actions so that no state takeover statute
or similar Legal Requirement applies or purports to apply to the execution, delivery or performance of this Agreement or to the
consummation of the Merger or the other Transactions.&nbsp;&nbsp;The board of directors of Company has taken all action necessary
to render inapplicable to this Agreement and the Transactions Section 203 of Delaware Law.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 2.05&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Company
Financial Statements; No Undisclosed Liabilities</U></B>.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
audited consolidated financial statements (including any related notes thereto) representing the financial condition of Company
as of December 31, 2017 and December 31, 2016 and the unaudited financial statements (including the notes thereto) representing
the financial condition of Company as of June 30, 2018 (collectively, the &ldquo;<B><I>Company Financials</I></B>&rdquo;), including
any available quarterly financial statements (including any related notes thereto), (i) were prepared in accordance with United
States generally accepted accounting principles (&ldquo;<B><I>GAAP</I></B>&rdquo;) applied on a consistent basis throughout the
periods involved (except as may be indicated in the notes thereto), (ii) fairly presented the consolidated financial position of
Company and its Subsidiaries as at the respective dates thereof and the consolidated results of its operations and cash flows for
the periods indicated, except that the unaudited interim financial statements were or are subject to normal and recurring year-end
adjustments which were not, or are not expected to be, material in amount, and (iii) are consistent with, and have been prepared
from, the books and records of Company.&nbsp;&nbsp;The balance sheet of Company as of June 30, 2018 is hereinafter referred to
as the &ldquo;<B><I>Company Balance Sheet</I></B>.&rdquo; Notwithstanding the foregoing, unaudited financial statements are subject
to normal recurring year-end adjustments (the effect of which will not, individual or in the aggregate, be material) and the absence
of footnotes.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Each
of Company and its Subsidiaries maintains a system of internal accounting controls designed to provide reasonable assurance that:&nbsp;&nbsp;(i)
transactions are executed in accordance with management&rsquo;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&rsquo;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.&nbsp;&nbsp;Company and each of its Subsidiaries maintains internal controls over financial reporting that provides
reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external
purposes in accordance with GAAP.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Since
January 1, 2015 (the &ldquo;<B><I>Company Lookback Date</I></B>&rdquo;), there have been no formal investigations regarding financial
reporting or accounting policies and practices discussed with, reviewed by or initiated at the direction of the chief executive
officer, chief financial officer or general counsel of Company, the board of directors of Company or any committee thereof.&nbsp;&nbsp;Since
the Company Lookback Date, neither the Company nor its independent auditors have identified (i) any significant deficiency or material
weakness in the system of internal accounting controls utilized by Company, (ii) any fraud, whether or not material, that involves
Company&rsquo;s management or other employees who have a role in the preparation of financial statements or the internal accounting
controls utilized by Company, or (iii) any claim or allegation regarding any of the foregoing.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Except
as disclosed in the Company Financials, neither Company nor any of its Subsidiaries has any liabilities, Indebtedness, obligation,
expense, claim, deficiency, guaranty, or endorsement of any kind, whether accrued, absolute, contingent, matured, or unmatured
(whether or not required to be reflected in the financial statements in accordance with GAAP) (each, a &ldquo;<B><I>Liability</I></B>&rdquo;)
except Liabilities (i) identified in the Company Balance Sheet, (ii) incurred in connection with the Transactions, (iii) described
on Part 2.05(d) of the Company Disclosure Schedule, (iv) incurred since the date of the Company Balance Sheet in the ordinary course
of business consistent with past practices, (v) set forth in any Company Contract or (vi) would not have, individually or in the
aggregate, a Company Material Adverse Effect.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 2.06&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Absence
Of Certain Changes Or Events</U></B>.&nbsp;&nbsp;Since the date of the Company Balance Sheet through the date of this Agreement
and other than with respect to the negotiation, execution and performance of this Agreement, each of the Acquired Companies has
conducted its business only in the ordinary course of business consistent with past practice, and there has not been:&nbsp;&nbsp;(a)
any event that has had a Company Material Adverse Effect, (b) any material change by Company in its accounting methods, principles
or practices, except as required by concurrent changes in GAAP or as disclosed in the notes to the Company Financials, (c) any
revaluation by Company of any of its assets having a Company Material Adverse Effect, or writing off notes or accounts receivable
other than in the ordinary course of business, or (d) any other action, event or occurrence that would have required the consent
of Parent pursuant to Section 4.01 of this Agreement had such action, event or occurrence taken place after the execution and delivery
of this Agreement.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 2.07&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Taxes</U></B>.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Each
income and other material Tax Return that any Acquired Company was required to file under applicable Legal Requirements:&nbsp;&nbsp;(i)
has been timely filed on or before the applicable due date (including any extensions of such due date) and (ii) is true and complete
in all material respects.&nbsp;&nbsp;All material Taxes due and payable by Company or its Subsidiaries have been timely paid, except
to the extent such amounts are being contested in good faith by Company or are properly reserved for on the books or records of
Company and its Subsidiaries.&nbsp;&nbsp;No extension of time with respect to any date on which a Tax Return was required to be
filed by an Acquired Company is in force (except where such Tax Return was filed), and no waiver or agreement by or with respect
to an Acquired Company is in force for the extension of time for the payment, collection or assessment of any Taxes, and no request
has been made by an Acquired Company in writing for any such extension or waiver (except, in each case, in connection with any
request for extension of time for filing Tax Returns).&nbsp;&nbsp;There are no liens for Taxes on any asset of an Acquired Company
other than liens for Taxes not yet due and payable, Taxes contested in good faith or that are otherwise not material and reserved
against in accordance with GAAP.&nbsp;&nbsp;No deficiency with respect to Taxes has been proposed, asserted or assessed in writing
against Company or its Subsidiaries which has not been fully paid or adequately reserved or reflected in the Company Financials.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>No
closing agreements, private letter rulings, technical advice memoranda or similar agreements or rulings have been entered into
by any Acquired Company with any taxing authority or issued by any taxing authority to an Acquired Company.&nbsp;&nbsp;There are
no outstanding rulings of, or request for rulings with, any Governmental Body addressed to an Acquired Company that are, or if
issued would be, binding on an Acquired Company.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>No
Acquired Company is a party to any Contract with any third party relating to allocating or sharing the payment of, or liability
for, Taxes or Tax benefits (other than pursuant to customary provisions included in credit agreements, leases, and agreements entered
with employees, in each case, not primarily related to Taxes and entered into in the ordinary course of business).&nbsp;&nbsp;No
Acquired Company has any liability for the Taxes of any third party under Treasury Regulation Section 1.1502-6 (or any similar
provision of state, local or foreign Legal Requirement) as a transferee or successor or otherwise by operation of Legal Requirements.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>None
of the Acquired Companies is a &ldquo;controlled foreign corporation&rdquo; within the meaning of Section 957 of the Code or &ldquo;passive
foreign investment company&rdquo; within the meaning of Section 1297 of the Code.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>No
Acquired Company has participated in, or is currently participating in, a &ldquo;listed transaction&rdquo; within the meaning of
Treasury Regulation Section 1.6011-4(b)(2).&nbsp;&nbsp;Company has disclosed on its respective United States federal income Tax
Returns all positions taken therein that could give rise to a substantial understatement of United States federal income Tax within
the meaning of Section 6662 of the Code.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Each
Acquired Company is not (and has not been for the five-year period ending at the Effective Time) a &ldquo;United States real property
holding corporation&rdquo; as defined in Section 897(c)(2) of the Code and the applicable Treasury Regulations.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>No
Acquired Company has distributed stock of another Person, or has had its stock distributed by another Person, in a transaction
that was purported or intended to be governed in whole or in part by Sections 355 or 361 of the Code.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>No
Acquired Company has taken or agreed to take any action that would prevent the Merger from constituting a reorganization qualifying
under Section 368 of the Code.&nbsp;&nbsp;No Acquired Company is aware of any agreement, plan or other circumstance that would
prevent the Merger from qualifying as a reorganization under Section 368 of the Code.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 2.08&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Intellectual
Property</U></B>. To the knowledge of Company, Company and its Subsidiaries own, or have rights to use, all patents, patent applications,
trademarks, trademark applications, service marks, trade names, trade dress, trade secrets, know-how, software, inventions, copyrights,
licenses and other intellectual property rights that are necessary or required for, or used in connection with, their respective
businesses as presently conducted or as presently proposed to be conducted and which the failure to so have would reasonably be
expected to have a Company Material Adverse Effect (collectively, the &ldquo;<B><I>Company Owned IP Rights</I></B>&rdquo;). Neither
Company nor any of its Subsidiaries has received any written notice of a claim or otherwise has any knowledge of any claim that
any Company Owned IP Right, or that the manufacture, sale, offer for sale, development, use or importation of any product, product
candidate or service by or on behalf of Parent or its Subsidiaries, violates, misappropriates, or infringes the rights of any Person,
except as would not have or reasonably be expected to have a Company Material Adverse Effect.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 2.09&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Compliance
with Legal Requirements</U></B>.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Company
and its Subsidiaries are not and have not been at any time in conflict with (i) any Legal Requirement, order, judgment or decree
applicable to Company or any of its Subsidiaries or by which Company or any of its Subsidiaries are bound or affected (or to which
the parent of Company is bound), or (ii) any Contract to which Company or any of its Subsidiaries is a party or by which Company
or any of its Subsidiaries or its or any of their respective properties is bound or affected, except for any immaterial conflicts,
defaults or violations.&nbsp;&nbsp;To Company&rsquo;s knowledge, no investigation or review by any Governmental Body is pending
or, to the knowledge of Company, threatened against Company or its Subsidiaries, nor any product Commercialized or intended to
be Commercialized by Company, nor has any Governmental Body indicated to an Acquired Company or its parent in writing an intention
to conduct the same.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Company
and its Subsidiaries hold all permits, licenses, registrations, authorizations, variances, exemptions, orders and approvals from
Governmental Bodies which are necessary to the operation of the business of Company and its Subsidiaries taken as a whole (collectively,
the &ldquo;<B><I>Company Permits</I></B>&rdquo;).&nbsp;&nbsp;Company and its Subsidiaries are in compliance in all material respects
with the terms of the Company Permits.&nbsp;&nbsp;No action, proceeding, revocation proceeding, amendment procedure, writ, injunction
or claim is pending or, to the knowledge of Company, threatened, which seeks to revoke or limit any Company Permit. The rights
and benefits of each Company Permit will be available to the Surviving Corporation immediately after the Effective Time on terms
substantially identical to those enjoyed by Company immediately prior to the Effective Time.&nbsp;&nbsp;Company has made available
to Parent all Company Permits and correspondence from the FDA or other comparable Governmental Body.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
Acquired Companies and Persons acting in concert with and on behalf of Company:</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(i)</FONT></TD><TD>have not used in any capacity the services of any individual or entity debarred, excluded, or disqualified under 21 U.S.C.
Section 335a, 42 U.S.C.&nbsp;&nbsp;Section 1320a-7, 21 C.F.R. Section 312.70, or any similar laws, rules or regulations; and</TD></TR></TABLE>



<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -0.5in">&nbsp;</P>


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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(ii)</FONT></TD><TD>have not been convicted of any crime or engaged in any conduct that has resulted, or would reasonably be expected to result,
in debarment, exclusion, or disqualification under 21 U.S.C. Section 335a, 42 U.S.C. Section 1320a-7, 21 C.F.R. Section 312.70,
or any similar laws, rules regulations.</TD></TR></TABLE>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>None
of the Acquired Companies, and to the knowledge of Company, no Representative of any of the Acquired Companies on their behalf
with respect to any matter relating to any of the Acquired Companies, has:&nbsp;&nbsp;(i) used any funds for unlawful contributions,
gifts, entertainment or other unlawful expenses relating to political activity; (ii) made any unlawful payment to foreign or domestic
government officials or employees or to foreign or domestic political parties or campaigns or violated any provision of the Foreign
Corrupt Practices Act of 1977, as amended or (iii) made any other unlawful payment.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>No
product or product candidate manufactured, tested, distributed, held, licensed or marketed (&ldquo;<B><I>Commercialized</I></B>&rdquo;)
by or on behalf of Company, or by or on behalf of any of the other Acquired Companies, has at any time been recalled, withdrawn,
suspended or discontinued (whether voluntarily or otherwise).&nbsp;&nbsp;No Governmental Body or institutional review board or
comparable body has commenced, or threatened to initiate, any proceeding seeking the recall, market withdrawal, suspension or withdrawal
of approval, or seizure of any such product or product candidate; the imposition of material sales, marketing or production restriction
on any such product or product candidate; or the suspension, termination or other restriction of preclinical or clinical research
with respect to any such product candidate by or on behalf of any of the Acquired Companies, including any action regarding any
investigator participating in any such research, nor is any such proceeding pending. Company has, prior to the execution of this
Agreement, provided or made available to Parent all information about adverse drug experiences obtained or otherwise received by
Company or by any of the Acquired Companies from any source, in the United States or outside the United States, including information
derived from clinical investigations prior to any market authorization approvals, commercial marketing experience, postmarketing
clinical investigations, postmarketing epidemiological/surveillance studies or registries, reports in the scientific literature,
and unpublished scientific papers for any product or product candidate Commercialized by any of the Acquired Companies.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Neither
Company nor any of the Acquired Companies, or Persons acting in concert with or on behalf of Company or Acquired Companies or any
officers, employees or agents of the same, has with respect to any product that is Commercialized by or on behalf of Company, or,
any of the other Acquired Companies, made an untrue statement of a material fact or fraudulent statement to the FDA or any other
Governmental Body, failed to disclose a material fact required to be disclosed to the FDA or any other Governmental Body, or committed
an act, made a statement, or failed to make a statement that, at the time such disclosure was made, would reasonably be expected
to provide a basis for the FDA to invoke its policy respecting &ldquo;Fraud, Untrue Statements of Material Facts, Bribery, and
Illegal Gratuities&rdquo; set forth in 56 Fed. Reg. 46191 (September 10, 1991) or any other Governmental Body to invoke any similar
policy.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>All
pre-clinical and clinical studies conducted by or on behalf of Company relating to product or product candidates have been, or
are being, conducted in all material respects in compliance with the applicable requirements of the FDA&rsquo;s Good Laboratory
Practice and Good Clinical Practice requirements, including regulations under 21 C.F.R. Parts 50, 54, 56, 58, 312 and applicable
guidance documents, as amended from time to time, the Animal Welfare Act, and all applicable similar requirements in other jurisdictions,
including all requirements relating to protection of human subjects participating in any such clinical studies.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Company
and each of the Acquired Companies have, filed with the FDA, any other Governmental Body, and any institutional review board or
comparable body, all required notices, supplemental applications, and annual or other reports, including adverse experience reports,
with respect to each investigational new drug application or any comparable foreign regulatory application, related to the manufacture,
testing, study, or sale of any of its products or product candidates, as applicable.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Company
and the Acquired Companies, and their Representatives, are and at all times have been, in compliance with, and the business of
Company and the Acquired Companies (including the research, development, labeling, manufacture, testing, storage, use, sale, offer
for sale, importation, and other distribution or commercial exploitation of any products Commercialized by or on behalf of Company)
has been operated in accordance with, all Legal Requirements relating to health care regulatory matters, including to the extent
applicable, each of the following: (i) all applicable Legal Requirements of any Governmental Body, including the United States
Department of Health and Human Services and its constituent agencies, the Centers for Medicare &amp; Medicaid Services, the Office
of Inspector General, and the FDA (collectively with other applicable federal, state or foreign regulatory authorities and any
Governmental Bodies, &ldquo;<B><I>Regulatory Authorities</I></B>&rdquo;), including the federal Food, Drug, and Cosmetic Act (21
U.S.C. &sect; 321 <I>et seq</I>.), the federal Anti-Kickback Statute (42 U.S.C. &sect; 1320a-7b(b)), the Anti-Inducement Law (42
U.S.C. &sect; 1320a-7a(a)(5)), the Federal Civil Monetary Penalties Law (42 U.S.C. &sect;&sect; 1320a-7a and 1320a-7b), the Stark
Law (42 U.S.C. &sect; 1395nn), the Health Insurance Portability and Accountability Act of 1996 (42 U.S.C. &sect; 1320d <I>et seq</I>.),
the exclusion laws (42 U.S.C. &sect; 1320a-7), the Physician Payments Sunshine Act (42 U.S.C. &sect; 1320a-7h), and the implementing
rules, regulations, and guidance documents promulgated pursuant to the foregoing laws, (ii) the applicable Legal Requirements precluding
off-label marketing of drugs, devices and other health care products, (iii) all other United States laws and regulations with respect
to the marketing, sale, pricing, price reporting, and reimbursement of drugs, devices and other health care products, including
the provisions of the Federal False Claims Act, 31 U.S.C. &sect;3729 <I>et seq</I>., the Medicare Program (Title XVIII of the Social
Security Act), the Medicaid Program (Title XIX of the Social Security Act), and the regulations promulgated pursuant to such Legal
Requirements, and (iv) any state, local or foreign equivalents to any of the foregoing. No event has occurred, and no condition
or circumstance exists, that will constitute or result in a violation by Company or the Acquired Companies of, or a failure on
the part of Company or the Acquired Companies to comply with, any such Legal Requirements.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 2.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Legal
Proceedings; Orders</U></B>.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Except
as set forth in Part 2.10(a) of the Company Disclosure Schedule, there is no pending Legal Proceeding, and no Person has threatened
to commence any Legal Proceeding:&nbsp;&nbsp;(i) that involves any of the Acquired Companies, any business of any of the Acquired
Companies or any of the assets owned, leased or used by any of the Acquired Companies; (ii) that challenges, or that may have the
effect of preventing, delaying, making illegal or otherwise interfering with, the Merger or any of the other Transactions or (iii)
that involves any product Commercialized by any of the Acquired Companies.&nbsp;&nbsp;None of the Legal Proceedings identified
in Part 2.10(a) of the Company Disclosure Schedule has had or, if adversely determined, would reasonably be expected to have or
result in a Company Material Adverse Effect. To the knowledge of Company, no event has occurred, and no claim, dispute or other
condition or circumstance exists, that would reasonably be expected to give rise to or serve as a basis for the commencement of
any Legal Proceeding of the type described in clause &ldquo;(i)&rdquo; or clause &ldquo;(ii)&rdquo; of the first sentence of this
Section 2.10(a).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>There
is no Order to which any of the Acquired Companies, or the assets owned or used by any of the Acquired Companies (including, without
limitation, any product Commercialized or intended to be Commercialized by any of the Acquired Companies), is subject.&nbsp;&nbsp;To
the knowledge of Company, no officer or other key employee of any of the Acquired Companies is subject to any Order that prohibits
such officer or other employee from engaging in or continuing any conduct, activity or practice relating to the business of any
of the Acquired Companies.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 2.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Brokers&rsquo;
And Finders&rsquo; Fees</U></B>.&nbsp;&nbsp;Except as set forth in Part 2.11 of the Company Disclosure Schedule, no broker, finder
or investment banker is entitled to any brokerage, finder&rsquo;s or other fee or commission in connection with the Merger or any
of the other Transactions based upon arrangements made by or on behalf of any of the Acquired Companies.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 2.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Employee
Benefit Plans</U></B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in; color: #010000">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Part
2.12(a) of the Company Disclosure Schedule sets forth, as of the date of this Agreement, a complete and accurate list of each material
Employee Benefit Plan which is currently sponsored, maintained, contributed to, or required to be contributed to or with respect
to which any potential liability is borne by any Acquired Company or any ERISA Affiliate of any Acquired Company (collectively,
the &ldquo;<B><I>Company Employee Plans</I></B>&rdquo;).&nbsp;&nbsp;No Acquired Company nor, to the knowledge of Company, any other
person or entity, has made any commitment to modify, change or terminate any Company Employee Plan, other than with respect to
a modification, change or termination required by Legal Requirements.&nbsp;&nbsp;With respect to each material Company Employee
Plan, Company has made available to Parent, accurate and complete copies of the following documents: (i) the plan document and
any related trust agreement, including amendments thereto; (ii) any current summary plan descriptions and other material communications
to participants relating to the plan; (iii) each plan trust, insurance, annuity or other funding contract or service provider agreement
related thereto; (iv) the most recent plan financial statements and actuarial or other valuation reports prepared with respect
thereto, if any; (v) the most recent IRS determination or opinion letter, if any; (vi) copies of the most recent plan year nondiscrimination
and coverage testing results for each plan subject to such testing requirements; and (vii) the most recent annual reports (Form
5500) and all schedules attached thereto for each Company Employee Plan that is subject to ERISA and Code reporting requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in; color: #010000">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Each
Company Employee Plan is being, and has been, administered in accordance with its terms and in compliance with the requirements
prescribed by any and all Legal Requirements (including ERISA and the Code), in all material respects.&nbsp;&nbsp;No Acquired Company
is in material default under or material violation of, and has no knowledge of any material defaults or material violations by
any other party to, any of Company Employee Plans.&nbsp;&nbsp;All contributions required to be made by any Acquired Company or
any ERISA Affiliate of any Acquired Company to any Company Employee Plan have been timely paid or accrued on the most recent Company
Financials on file with the SEC, if required under GAAP.&nbsp;&nbsp;Any Company Employee Plan intended to be qualified under Section
401(a) of the Code has either obtained from the Internal Revenue Service a favorable determination letter or opinion letter as
to its qualified status under the Code, and to the knowledge of Company, no event has occurred and no condition exists with respect
to the form or operation of such Company Employee Plan that would cause the loss of such qualification.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>No
Company Employee Plan provides retiree medical or other retiree welfare benefits to any person, except as required by COBRA. No
suit, administrative proceeding or action has been brought, or to the knowledge of Company, is threatened against or with respect
to any such Company Employee Plan, including any audit or inquiry by the Internal Revenue Service or the United States Department
of Labor (other than routine claims for benefits arising under such plans).&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in; color: #010000">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>No
Acquired Company nor any ERISA Affiliate of any Acquired Company has, during the past six (6) years from the date hereof, maintained,
established, sponsored, participated in or contributed to, or is obligated to contribute to, or otherwise incurred any obligation
or liability (including any contingent liability) under, any &ldquo;multiemployer plan&rdquo; (as defined in Section 3(37) of ERISA)
or any &ldquo;pension plan&rdquo; (as defined in Section 3(2) of ERISA) subject to Title IV of ERISA or Section 412 of the Code.&nbsp;&nbsp;No
Acquired Company nor any ERISA Affiliate of any Acquired Company has, as of the date of this Agreement, any actual or potential
withdrawal liability (including any contingent liability) for any complete or partial withdrawal (as defined in Sections 4203 and
4205 of ERISA) from any multiemployer plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in; color: #010000">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Except
as set forth in Part 2.12(e) of the Company Disclosure Schedule, consummation of the Merger will not (i) entitle any current or
former employee or other service provider of any Acquired Company or any ERISA Affiliate of any Acquired Company to severance benefits
or any other payment (including unemployment compensation, golden parachute, bonus or benefits under any Company Employee Plan);
(ii) accelerate the time of payment or vesting of any such benefits or increase the amount of compensation due any such employee
or service provider; (iii) result in the forgiveness of any indebtedness; (iv) result in any obligation to fund future benefits
under any Company Employee Plan; or (v) result in the imposition of any restrictions with respect to the amendment or termination
of any of Company Employee Plans. No benefit payable or that may become payable by any Acquired Company pursuant to any Company
Employee Plan in connection with the transactions&nbsp;as a result of or arising under this Agreement will constitute an &ldquo;excess
parachute payment&rdquo; (as defined in Section 280G(b)(1) of the Code) subject to the imposition of an excise Tax under Section
4999 of the Code or the deduction for which would be disallowed by reason of Section 280G of the Code.&nbsp;&nbsp;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 2.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Title
to Assets; Real Property</U></B>.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
Acquired Companies own, and have good, valid and marketable title to, or, in the case of leased assets, valid leasehold interests
in or other rights to use, all tangible assets purported to be owned or leased by them.&nbsp;&nbsp;All of said assets are owned
by the Acquired Companies free and clear of any Encumbrances, except for Permitted Liens.&nbsp;&nbsp;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>All
material items of equipment and other tangible assets owned by or leased to the Acquired Companies are adequate for the uses to
which they are being put, are in good condition and repair (ordinary wear and tear excepted) and are adequate for the conduct of
the business of the Acquired Companies in the manner in which such businesses are currently being conducted immediately prior to
the Effective Time.&nbsp;&nbsp;The Acquired Companies do not own and have never owned any real property or any interest in real
property.&nbsp;&nbsp;Part 2.13(b) of the Company Disclosure Schedule sets forth a complete and accurate list of all real property
leases to which Company is a party.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 2.14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Environmental
Matters</U></B>.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>No
substance that has been designated by any Governmental Body or by applicable federal, state or local Legal Requirement, to be radioactive,
toxic, hazardous or otherwise a danger to health (through exposure in the environment) or the environment, including, without limitation,
PCBs, asbestos, petroleum, urea-formaldehyde and all substances listed as hazardous substances pursuant to the Comprehensive Environmental
Response, Compensation, and Liability Act of 1980, as amended, or defined as a hazardous waste pursuant to the United States Resource
Conservation and Recovery Act of 1976, as amended, and the regulations promulgated pursuant to said laws (a &ldquo;<B><I>Hazardous
Material</I></B>&rdquo;), has been released, as a result of the deliberate actions of Company or any of its Subsidiaries, or, to
Company&rsquo;s knowledge, as a result of any actions of any third party or otherwise, in, on or under any property, including
the land and the improvements, ground water and surface water thereof, that Company or any of its Subsidiaries currently owns,
operates, occupies or leases, in such quantities as would cause a Company Material Adverse Effect.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Neither
Company nor any of its Subsidiaries has, since the Company Lookback Date, transported, stored, used, manufactured, disposed of,
or released Hazardous Materials (collectively, &ldquo;<B><I>Hazardous Material Activities</I></B>&rdquo;) in material violation
of any Legal Requirement in effect on or before the date hereof.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Company
and its Subsidiaries currently hold all environmental approvals, permits, licenses, clearances and consents (the &ldquo;<B><I>Company
Environmental Permits</I></B>&rdquo;) necessary for the conduct of Company&rsquo;s and its Subsidiaries&rsquo; Hazardous Material
Activities and other businesses of Company and its Subsidiaries as such activities and businesses are currently being conducted,
except where the failure to so hold would not have a Company Material Adverse Effect.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>No
material action, proceeding, revocation proceeding, amendment procedure, writ, injunction or claim is pending, or to the knowledge
of Company, threatened concerning any Company Environmental Permit, Hazardous Material or any Hazardous Material Activity of Company
or any of its Subsidiaries.&nbsp;&nbsp;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 2.15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Labor
Matters</U></B>.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>To
the Company&rsquo;s knowledge, no key employee or group of employees has threatened to terminate employment with Company or has
plans to terminate such employment.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
Company is not a party to or bound by any collective bargaining agreement, nor has it experienced any strikes, grievances, claims
of unfair labor practices or other collective bargaining disputes.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Except
as disclosed in Part 2.15(c) of the Company Disclosure Schedule, neither Company nor any of its Subsidiaries is a party to any
written or oral:&nbsp;&nbsp;(i) agreement with any current or former employee the benefits of which are contingent upon, or the
terms of which will be materially altered by, the consummation of the Merger or other Transactions; (ii) agreement with any current
or former employee of Company providing any term of employment or compensation guarantee extending for a period longer than one
year from the date hereof or for the payment of compensation in excess of $100,000 per annum; or (iii) agreement or plan the benefits
of which will be increased, or the vesting of the benefits of which will be accelerated, upon the consummation of the Merger.</P>

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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 2.16&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Company
Contracts</U></B>.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Except
for Excluded Contracts or as set forth in Part 2.16 of the Company Disclosure Schedule, neither Company nor any of its Subsidiaries
is a party to or is bound by:</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(i)</FONT></TD><TD>any management, employment, severance, retention, transaction bonus, change in control, consulting, relocation, repatriation
or expatriation agreement or other similar Contract between:&nbsp;&nbsp;(i) any of the Acquired Companies or any of their ERISA
Affiliates; and (ii) any active, retired or former employees, directors or consultants of any Acquired Company or any of their
ERISA Affiliates, other than any such Contract that is terminable &ldquo;at will&rdquo; (or following a notice period imposed by
applicable Legal Requirements) without any obligation on the part of any Acquired Company or any of their ERISA Affiliates to make
any severance, termination, change in control or similar payment or to provide any benefit, other than severance payments required
to be made by any Acquired Company under applicable foreign Legal Requirements;</TD></TR></TABLE>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(ii)</FONT></TD><TD>any Contracts identified or required to be identified in Part 2.13(b) of the Company Disclosure Schedule;</TD></TR></TABLE>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(iii)</FONT></TD><TD>any Contract with any distributor, reseller or sales representative with an annual value in excess of $50,000;</TD></TR></TABLE>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(iv)</FONT></TD><TD>any Contract with any manufacturer, vendor, or other Person for the supply of materials or performance of services by such
third party to Company in relation to the manufacture of the Company&rsquo;s products or product candidates with an annual value
in excess of $50,000;</TD></TR></TABLE>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(v)</FONT></TD><TD>any agreement or plan, including, without limitation, any stock option plan, stock appreciation right plan or stock purchase
plan, any of the benefits of which will be increased, or the vesting of benefits of which will be accelerated, by the occurrence
of any of the Transactions or the value of any of the benefits of which will be calculated on the basis of any of the Transactions;</TD></TR></TABLE>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(vi)</FONT></TD><TD>any Contract incorporating or relating to any guaranty, any warranty, any sharing of liabilities or any indemnity not entered
into in the ordinary course of business, including any indemnification agreements between Company or any of its Subsidiaries and
any of its officers or directors;</TD></TR></TABLE>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(vii)</FONT></TD><TD>any Contract imposing, by its express terms, any material restriction on the right or ability of any Acquired Company:&nbsp;&nbsp;(A)
to compete with any other Person; (B) to acquire any product or other asset or any services from any other Person; or (C) to develop,
sell, supply, distribute, offer, support or service any product or any technology or other asset to or for any other Person;</TD></TR></TABLE>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -0.5in">&nbsp;</P>


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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(viii)</FONT></TD><TD>any Contract currently in force relating to the disposition or acquisition of assets not in the ordinary course of business
or any ownership interest in any corporation, partnership, joint venture or other business enterprise;</TD></TR></TABLE>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(ix)</FONT></TD><TD>any mortgages, indentures, loans or credit agreements, security agreements or other agreements or instruments relating to the
borrowing of money or extension of credit in excess of $50,000;</TD></TR></TABLE>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(x)</FONT></TD><TD>any joint marketing or development agreement;</TD></TR></TABLE>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(xi)</FONT></TD><TD>any commercial Contract that would reasonably be expected to have a material effect on the ability of the Company to perform
any of its material obligations under this Agreement, or to consummate any of the transactions contemplated by this Agreement,
that is not set forth on Part 2.03 of the Company Disclosure Schedule;</TD></TR></TABLE>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(xii)</FONT></TD><TD>any Contract that provides for:&nbsp;&nbsp;(A) any right of first refusal, right of first negotiation, right of first notification
or similar right with respect to any securities or assets of any Acquired Company for which a waiver of such right shall have not
been obtained; or (B) any &ldquo;no shop&rdquo; provision or similar exclusivity provision with respect to any securities or assets
of any Acquired Company; or</TD></TR></TABLE>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(xiii)</FONT></TD><TD>any Contract that contemplates or involves the payment or delivery of cash or other consideration in an amount or having a
value in excess of $50,000 or more in the aggregate, or contemplates or involves the performance of services having a value in
excess of $50,000 in the aggregate other than any arrangement or agreement expressly contemplated or provided for under this Agreement.</TD></TR></TABLE>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Company
has made available to Parent an accurate and complete copy of each Contract listed or required to be listed in Part 2.16 of the
Company Disclosure Schedule (any such Contract, a &ldquo;<B><I>Company Contract</I></B>&rdquo;).&nbsp;&nbsp;Neither Company nor
any of its Subsidiaries, nor to the Company&rsquo;s knowledge any other party to a Company Contract, has breached or violated in
any material respect or materially defaulted under, or received written notice that it has breached, violated or defaulted under,
any of the terms or conditions of any of the Company Contracts.&nbsp;&nbsp;To the knowledge of Company, no event has occurred,
and no circumstance or condition exists, that (with or without notice or lapse of time) would reasonably be expected to:&nbsp;&nbsp;(i)
result in a violation or breach in any material respect of any of the provisions of any Company Contract; (ii) give any Person
the right to declare a default in any material respect under any Company Contract; (iii) give any Person the right to receive or
require a rebate, chargeback, penalty or change in delivery schedule under any Company Contract; (iv) give any Person the right
to accelerate the maturity or performance of any Company Contract; or (v) give any Person the right to cancel, terminate or modify
any Company Contract.&nbsp;&nbsp;Each Company Contract is valid, binding, enforceable and in full force and effect, except as enforceability
may be limited by bankruptcy and other similar laws and general principles of equity.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>


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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 2.17&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Books
And Records</U></B>.&nbsp;&nbsp;The minute books of Company and its Subsidiaries made available to Parent or counsel for Parent
are the only minute books of Company and contain accurate summaries, in all material respects, of all meetings of directors (or
committees thereof) and stockholders or actions by written consent since the time of incorporation of Company or such Subsidiaries,
as the case may be.&nbsp;&nbsp;The books and records of Company accurately reflect in all material respects the assets, liabilities,
business, financial condition and results of operations of Company and have been maintained in accordance with good business and
bookkeeping practices.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 2.18&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Insurance</U></B>.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
Company or its Subsidiaries maintain all policies of fire, theft, casualty, general liability, workers compensation, business interruption,
environmental, product liability and automobile insurance policies and bond and surety arrangements and other forms of insurance
(the &ldquo;<B><I>Company Insurance Policies</I></B>&rdquo;) in such amounts, with such deductibles and against such risks and
losses that are necessary for the operation of the Company&rsquo;s and its Subsidiaries&rsquo; businesses in all material respects.&nbsp;&nbsp;The
Company Insurance Policies are in full force and effect, maintained with reputable companies against loss relating to the business,
operations and properties and such other risks as companies engaged in similar business as the Acquired Companies would, in accordance
with good business practice, customarily insure.&nbsp;&nbsp;All premiums due and payable under such Company Insurance Policies
have been paid on a timely basis and each Acquired Company is in compliance in all material respects with all other terms thereof.&nbsp;&nbsp;True,
complete and correct copies, of such Company Insurance Policies, or summaries of all terms material thereof, have been made available
to Parent.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>There
are no material claims pending under any Company Insurance Policies as to which coverage has been questioned, denied or disputed.
All material claims thereunder have been filed in a due and timely fashion and no Acquired Company has been refused insurance for
which it has applied or had any policy of insurance terminated (other than at its request), nor has any Acquired Company received
notice from any insurance carrier that:&nbsp;&nbsp;(i) such insurance will be canceled or that coverage thereunder will be reduced
or eliminated; or (ii) premium costs with respect to such insurance will be increased, other than premium increases in the ordinary
course of business applicable on their terms to all holders of similar policies.&nbsp;&nbsp;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 2.19&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Government
Contracts</U></B>.&nbsp;&nbsp;Company has not been suspended or debarred from bidding on contracts with any Governmental Body,
and no such suspension or debarment has been initiated or threatened.&nbsp;&nbsp;The consummation of the Merger and other Transactions
will not result in any such suspension or debarment of Company or Parent (other than any such suspension or debarment to the extent
resulting from the Company becoming a subsidiary of Parent).</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 2.20&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Interested
Party Transactions</U></B>.&nbsp;&nbsp;No event has occurred during the past three years that would be required to be reported
by Company as a Certain Relationship or Related Transaction pursuant to Item 404 of Regulation S-K, if Company were required to
report such information in periodic reports pursuant to the Exchange Act.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 2.21&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Disclosure;
Company Information</U></B>.&nbsp;&nbsp;The information relating to Company or its Subsidiaries to be supplied by or on behalf
of Company for inclusion or incorporation by reference in the&nbsp;Proxy Statement will not, on the date the Proxy Statement is
first mailed to the Parent stockholders or at the time of the Parent Stockholders&rsquo; Meeting or at the time of any amendment
or supplement thereof, contain any untrue statement of any material fact, or omit to state any material fact required to be stated
therein or necessary in order to make the statements therein, in light of the circumstances under which they are made, not false
or misleading at the time and in light of the circumstances under which such statement is made. Notwithstanding the foregoing,
no representation is made by Company with respect to the information that has been or will be supplied by Parent and Merger Sub
or any of their Representatives for inclusion in the Proxy Statement.&nbsp;&nbsp;</P>

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


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

<P STYLE="color: #010000; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">Article
III.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">REPRESENTATIONS
AND WARRANTIES OF PARENT AND MERGER SUB</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Except as set forth in the corresponding sections or subsections
of the Company Disclosure Schedule and except for any disclosure set forth in any of the Parent SEC Documents (excluding any &ldquo;risk
factor&rdquo; sections thereof), Parent and Merger Sub represent and warrant to Company as follows:</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 3.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Organization
and Qualification</U></B>.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Part
3.01(a) of the Parent Disclosure Schedule identifies each Subsidiary of Parent and indicates its jurisdiction of organization.&nbsp;&nbsp;Neither
Parent nor any of the Entities identified in Part 3.01(a) of the Parent Disclosure Schedule owns any capital stock of, or any equity
interest of any nature in, any other Entity, other than the Entities identified in Part 3.01(a) of the Parent Disclosure Schedule.&nbsp;&nbsp;None
of the Acquiring Companies has agreed or is obligated to make, or is bound by any Contract under which it may become obligated
to make, any future investment in or capital contribution to any other Entity.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Parent
is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware, Merger Sub is a
corporation duly organized, validly existing and in good standing under the laws of the State of Delaware, and Parent and Merger
Sub have all necessary corporate power and authority:&nbsp;&nbsp;(i) to conduct their businesses in the manner in which their businesses
are currently being conducted; (ii) to own and use their assets in the manner in which their assets are currently owned and used;
and (iii) to perform their obligations under all Contracts by which they are bound.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Each
of Parent and Merger Sub (in jurisdictions that recognize the following concepts) is qualified to do business as a foreign corporation,
and is in good standing, under the laws of all jurisdictions where the nature of its business requires such qualification, except
as would not have and would not reasonably be expected to have or result in a Parent Material Adverse Effect.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
copies of the certificate of incorporation and bylaws of Parent which are incorporated by reference as exhibits to Parent&rsquo;s
Annual Report on Form 10-K for the year ended December 31, 2017 are complete and correct copies of such documents and contain all
amendments thereto as in effect on the date of this Agreement.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 3.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Capital
Structure</U></B>.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
authorized capital stock of Parent consists of 95,000,000 shares of Parent Common Stock, par value, $0.001, of which 5,005,210
shares are issued and outstanding (which includes 1,509,019 shares of restricted stock) as of the close of business on the day
prior to the date hereof and 1,000,000 shares of Preferred Stock, par value $0.001 per share (&ldquo;<B><I>Parent Preferred Stock</I></B>&rdquo;),
of which no shares are issued and outstanding as of the close of business on the day prior to the date hereof.&nbsp;&nbsp;No shares
of capital stock are held in Parent&rsquo;s treasury.&nbsp;&nbsp;All outstanding shares of Parent Capital Stock are duly authorized,
validly issued, fully paid and non-assessable and were issued in compliance with all applicable federal and state securities laws.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>As
of the date of this Agreement, Parent had reserved an aggregate of 483,745 shares of Parent Common Stock, net of exercises, for
issuance to employees, consultants and non-employee directors pursuant to the Parent Stock Option Plans, under which options were
outstanding for an aggregate of 343,573 shares. 399,621 shares of Parent Common Stock, net of exercises, were reserved for issuance
to holders of warrants to purchase Parent Common Stock upon their exercise.&nbsp;&nbsp;All shares of Parent Common Stock subject
to issuance as aforesaid, upon issuance on the terms and conditions specified in the instruments pursuant to which they are issuable,
would be duly authorized, validly issued, fully paid and non-assessable. Part 3.02(b) of the Parent Disclosure Schedule lists each
outstanding option to purchase shares of Parent Capital Stock (a &ldquo;<B><I>Parent Option</I></B>&rdquo;), and the name of the
holder thereof, the number of shares subject thereto, the exercise price thereof and the vesting schedule and post-termination
exercise period thereof.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
shares of Parent Common Stock issuable as Merger Consideration, upon issuance on the terms and conditions contemplated in this
Agreement, would be duly authorized, validly issued, fully paid and non-assessable.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Except
as set forth in Part 3.02(d) of the Parent Disclosure Schedule:&nbsp;&nbsp;(i) none of the outstanding shares of Parent Capital
Stock are entitled or subject to any preemptive right, right of repurchase or forfeiture, right of participation, right of maintenance
or any similar right; (ii) none of the outstanding shares of Parent Capital Stock are subject to any right of first refusal in
favor of Parent; (iii) there are no outstanding bonds, debentures, notes or other indebtedness of the Acquiring Companies having
a right to vote on any matters on which the stockholders of Parent have a right to vote; (iv) there is no Contract to which the
Acquiring Companies are a party relating to the voting or registration of, or restricting any Person from purchasing, selling,
pledging or otherwise disposing of (or from granting any option or similar right with respect to), any shares of Parent Capital
Stock.&nbsp;&nbsp;None of the Acquiring Companies is under any obligation, or is bound by any Contract pursuant to which it may
become obligated, to repurchase, redeem or otherwise acquire any outstanding shares of Parent Capital Stock or other securities.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 3.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Authority;
Non-Contravention; Approvals</U></B>.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Parent
has the requisite corporate power and authority to enter into this Agreement and, subject to Parent Stockholder Approval, to perform
its obligations hereunder and to consummate the Parent Transactions.&nbsp;&nbsp;The execution and delivery by Parent of this Agreement,
the performance by Parent of its obligations hereunder and the consummation by Parent of the Parent Transactions have been duly
authorized by all necessary corporate action on the part of Parent and Merger Sub, subject only to Parent Stockholder Approval,
to adoption of this Agreement by Parent as sole stockholder of Merger Sub immediately following the execution hereof, the filing
and recordation of the a certificate of amendment reflecting the matters contemplated pursuant to Section 1.04(c) (the &ldquo;<B><I>Parent
Charter Amendment</I></B>&rdquo;) and the filing and recordation of the Certificate of Merger pursuant to Delaware Law.&nbsp;&nbsp;The
affirmative vote of the holders of a majority in voting power of the outstanding shares of Parent Common Stock outstanding on the
applicable record date (&ldquo;<B><I>Parent Stockholder Approval</I></B>&rdquo;) is the only vote of the holders of any class or
series of Parent Capital Stock necessary to adopt or approve the Parent Stockholder Approval Matters.&nbsp;&nbsp;This Agreement
has been duly executed and delivered by Parent and Merger Sub and, assuming the due authorization, execution and delivery of this
Agreement by Company, this Agreement constitutes the valid and binding obligation of Parent and Merger Sub, enforceable in accordance
with its terms, except as enforceability may be limited by bankruptcy and other similar laws and general principles of equity.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Parent&rsquo;s
board of directors, by resolutions duly adopted by a unanimous vote at a meeting of all directors of Parent duly called and held,
or by unanimous written consent of the board of directors of Parent,&nbsp;&nbsp;and, as of the date of this Agreement, not subsequently
rescinded or modified in any way, has, as of the date of this Agreement (i) approved this Agreement and the Merger, and determined
that this Agreement and the Parent Transactions, including the Merger, are fair to, and in the best interests of Parent&rsquo;s
stockholders, and (ii) resolved to recommend that Parent&rsquo;s stockholders approve the Parent Stockholder Approval Matters and
directed that such matters be submitted for consideration of the stockholders of Parent at the Parent Stockholders&rsquo; Meeting.&nbsp;&nbsp;The
board of directors of Merger Sub has approved and declared advisable this Agreement and the Merger and submitted this Agreement
to Parent, as its sole stockholder for adoption thereby.&nbsp;&nbsp;Immediately following the execution of this Agreement, Parent
in its capacity as the sole stockholder of Merger Sub, shall execute a written consent adopting this Agreement.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
execution and delivery of this Agreement by Parent and Merger Sub does not, and the performance of this Agreement by Parent or
Merger Sub will not, (i) conflict with or violate the certificate of incorporation or bylaws of Parent or Merger Sub, (ii) subject
to obtaining Parent Stockholder Approval and compliance with the requirements set forth in Section 3.03(d) below, conflict with
or violate any Legal Requirement, order, judgment or decree applicable to Parent or Merger Sub or by which their respective properties
are bound or affected, except for any such conflicts or violations that would not have a Parent Material Adverse Effect or would
not prevent or materially delay the consummation of the Merger, or (iii) require an Acquiring Company to make any filing with or
give any notice to or obtain any Consent from a Person pursuant to any Parent Contract, result in any breach of or constitute a
default (or an event that with notice or lapse of time or both would become a default) under, or impair Parent&rsquo;s rights or
alter the rights or obligations of any third party under, or give to others any rights of termination, amendment, acceleration
or cancellation of, or result in the creation of a lien or encumbrance on any of the properties or assets of Parent pursuant to,
any Parent Contract.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>No
consent, approval, order or authorization of, or registration, declaration or filing with any Governmental Body is required by
or with respect to Parent in connection with the execution and delivery of this Agreement or the consummation of the Parent Transactions,
except for (i) the filing with the SEC of any outstanding periodic reports due under the Exchange Act, (ii) the filing of the Certificate
of Merger with the Secretary of State of the State of Delaware, (iii) the filing of the Proxy Statement with the SEC in accordance
with the Exchange Act, (iv) the filing of Current Reports on Form 8-K with the SEC within four business days after the execution
of this Agreement and the Closing Date, (v) the filing of the Parent Charter Amendment with the Secretary of State of the State
of Delaware in accordance with Section 5.15, (vii) such approvals as may be required under applicable state securities or &ldquo;blue
sky&rdquo; laws or the rules and regulations of Nasdaq or other applicable national securities exchange or over-the-counter market
and (viii) such consents as may be required under the Antitrust Laws, in any case that are applicable to the transactions contemplated
by this Agreement.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 3.04&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Anti-Takeover
Statutes Not Applicable</U></B>.&nbsp;&nbsp;The board of directors of Parent has taken all actions so that no state takeover statute
or similar Legal Requirement applies or purports to apply to the execution, delivery or performance of this Agreement or to the
consummation of the Merger or the other Transactions.&nbsp;&nbsp;The board of directors of Parent has taken all action necessary
to render inapplicable to this Agreement and the Transactions Section 203 of Delaware Law.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>


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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 3.05&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>SEC
Filings; Parent Financial Statements; No Undisclosed Liabilities</U></B>.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Parent
has made available to Company accurate and complete copies of all registration statements, proxy statements, Certifications (as
defined below) and other statements, reports, schedules, forms and other documents filed by Parent with or furnished by Parent
to the SEC since January 1, 2015 (the &ldquo;<B><I>Parent Lookback Date</I></B>&rdquo;) (the &ldquo;<B><I>Parent SEC Documents</I></B>&rdquo;),
other than such documents that can be obtained on the SEC&rsquo;s website at <U>www.sec.gov</U> (the &ldquo;<B><I>SEC Website</I></B>&rdquo;).&nbsp;&nbsp;All
Parent SEC Documents have been timely filed and, as of the time a Parent SEC Document was filed with the SEC (or, if amended or
superseded by a filing prior to the date of this Agreement, then on the date of such filing):&nbsp;&nbsp;(i) each of the Parent
SEC Documents complied in all material respects with the applicable requirements of the Securities Act of 1933, as amended (the
 &ldquo;<B><I>Securities Act</I></B>&rdquo;), or the Exchange Act (as the case may be) and (ii) none of the Parent SEC Documents
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.&nbsp;&nbsp;Each
of the certifications and statements relating to the Parent SEC Documents required by:&nbsp;&nbsp;(1) the SEC&rsquo;s Order dated
June 27, 2002 pursuant to Section 21(a)(1) of the Exchange Act (File No. 4-460); (2) Rule 13a-14 or 15d-14 under the Exchange Act;
or (3) 18 U.S.C. &sect;1350 (Section 906 of the Sarbanes-Oxley Act) is accurate and complete (the &ldquo;<B><I>Certifications</I></B>&rdquo;),
and complied as to form and content with all applicable Legal Requirements in effect at the time such Parent Certification was
filed with or furnished to the SEC.&nbsp;&nbsp;As used in this Section 3.05, the term &ldquo;file&rdquo; and variations thereof
will be broadly construed to include any manner in which a document or information is furnished, supplied or otherwise made available
to the SEC.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Except
for such comment letters or correspondence as can be obtained on the SEC Website or which Parent has made available in a data room
for review by Company, from the Parent Lookback Date through the date hereof, Parent has not received any comment letter from the
SEC or the staff thereof or any correspondence from the Nasdaq or the staff thereof relating to the delisting or maintenance of
listing of the Parent Common Stock on the Nasdaq. Except as disclosed in the Parent SEC Documents or documents which Parent has
made available in a data room for review by Company, Parent has no unresolved SEC comments. As of the date of this Agreement, Parent
is in compliance in all material respects with the applicable listing and governance rules and regulations of the Nasdaq.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Since
the Parent Lookback Date, there have been no formal internal investigations regarding financial reporting or accounting policies
and practices discussed with, reviewed by or initiated at the direction of the chief executive officer or chief financial officer
of Parent, the board of directors of Parent or any committee thereof, other than ordinary course audits or reviews of accounting
policies and practices or internal controls required by the Sarbanes-Oxley Act.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Parent
is in compliance in all material respects with the applicable provisions of the Sarbanes-Oxley Act that are effective as of the
date of this Agreement.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Parent
and its Subsidiaries maintain disclosure controls and procedures required by Rule 13a-15 or 15d-15 under the Exchange Act.&nbsp;&nbsp;Such
disclosure controls and procedures are designed to ensure that all material information (both financial and non-financial) required
to be disclosed by Parent in the reports that it files, submits or furnishes under the Exchange Act is recorded, processed, summarized
and reported within the time periods specified in the rules and forms of the SEC, and that all such information is accumulated
and communicated to Parent&rsquo;s management as appropriate to allow timely decisions regarding required disclosure and to make
the Certifications.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
financial statements (including any related notes) contained or incorporated by reference in the Parent SEC Documents (the &ldquo;<B><I>Parent
Financials</I></B>&rdquo;):&nbsp;&nbsp;(i) complied as to form in all material respects with the published rules and regulations
of the SEC applicable thereto; (ii) were prepared in accordance with GAAP (except as may be indicated in the notes to such financial
statements or, in the case of unaudited financial statements, as permitted the SEC, and except that the unaudited financial statements
may not contain footnotes and are subject to normal and recurring year-end adjustments that are not reasonably expected to be material
in amount) applied on a consistent basis unless otherwise noted therein throughout the periods indicated; (iii) fairly present
the consolidated financial position of Parent as of the respective dates thereof and the consolidated results of operations and
cash flows of Parent for the periods covered thereby.&nbsp;&nbsp;Parent has not effected any securitization transactions or &ldquo;off-balance
sheet arrangements&rdquo; (as defined in Item 303(c) of SEC Regulation S-K).&nbsp;&nbsp;Other than as expressly disclosed in the
Parent SEC Documents filed prior to the date hereof, there has been no material change in Parent&rsquo;s accounting methods or
principles that would be required to be disclosed in Parent&rsquo;s Financials in accordance with GAAP.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Except
as disclosed in the Parent Financials, neither Parent nor any of its Subsidiaries has any Liabilities which are, individually or
in the aggregate, material to the business, results of operations or financial condition of Parent and its Subsidiaries taken as
a whole, except Liabilities (i) identified in the Parent Financials, (ii) incurred in connection with the Parent Transactions,
(iii) disclosed in Part 3.05(g) of the Parent Disclosure Schedule, (iv) set forth in any Parent Contract, or (v) incurred since
the date of the Parent Unaudited Interim Balance Sheet&nbsp;&nbsp;in the ordinary course of business.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 3.06&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Absence
Of Certain Changes Or Events</U></B>.&nbsp;&nbsp;Since the date of the most recent periodic report on Form 10-Q filed by Parent
with the SEC through the date of this Agreement, each of the Acquiring Companies has conducted its business in the ordinary course
of business, and (a) there has not been any event that has had a Parent Material Adverse Effect; (b) no Acquiring Company has entered
into or amended any material terms of any Contract, in each case providing for new obligations in excess of $100,000 or (c) incurred
any Indebtedness.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 3.07&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Taxes</U></B>.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Each
of the income and other material Tax Returns that any Acquiring Company was required to file under applicable Legal Requirements:&nbsp;&nbsp;(i)
has been timely filed on or before the applicable due date (including any extensions of such due date) and (ii) is true and complete
in all material respects.&nbsp;&nbsp;All material Taxes due and payable by Parent or its Subsidiaries have been timely paid, except
to the extent such amounts are being contested in good faith by Parent or are properly reserved for on the books or records of
Parent and its Subsidiaries. No extension of time with respect to any date on which a Tax Return was required to be filed by an
Acquiring Company is in force (except where such Tax Return was filed), and no waiver or agreement by or with respect to an Acquiring
Company is in force for the extension of time for the payment, collection or assessment of any Taxes, and no request has been made
by an Acquiring Company in writing for any such extension or waiver (except, in each case, in connection with any request for extension
of time for filing Tax Returns).&nbsp;&nbsp;There are no liens for Taxes on any asset of an Acquiring Company other than liens
for Taxes not yet due and payable, Taxes contested in good faith or that are otherwise not material and reserved against in accordance
with GAAP.&nbsp;&nbsp;No deficiency with respect to Taxes has been proposed, asserted or assessed in writing against Parent or
its Subsidiaries which has not been fully paid or adequately reserved or reflected in the SEC Documents.</P>

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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>No
closing agreements, private letter rulings, technical advice memoranda or similar agreements or rulings have been entered into
by any Acquiring Company with any taxing authority or issued by any taxing authority to an Acquiring Company.&nbsp;&nbsp;There
are no outstanding rulings of, or request for rulings with, any Governmental Body addressed to an Acquiring Company that are, or
if issued would be, binding on any Acquiring Company.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>No
Acquiring Company is a party to any Contract with any third party relating to allocating or sharing the payment of, or liability
for, Taxes or Tax benefits (other than pursuant to customary provisions included in credit agreements, leases, and agreements entered
with employees, in each case, not primarily related to Taxes and entered into in the ordinary course of business).&nbsp;&nbsp;No
Acquiring Company has any liability for the Taxes of any third party under Treasury Regulation Section 1.1502-6 (or any similar
provision of state, local or foreign Legal Requirement) as a transferee or successor or otherwise by operation of Legal Requirements.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>None
of the Acquiring Companies is a &ldquo;controlled foreign corporation&rdquo; within the meaning of Section 957 of the Code or a
 &ldquo;passive foreign investment company&rdquo; within the meaning of Section 1297 of the Code.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>No
Acquiring Company has participated in, or is currently participating in, a &ldquo;listed transaction&rdquo; within the meaning
of Treasury Regulation Section 1.6011-4(b)(2).&nbsp;&nbsp;Parent has disclosed on its respective United States federal income Tax
Returns all positions taken therein that could give rise to a substantial understatement of United States federal income Tax within
the meaning of Section 6662 of the Code.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Each
Acquiring Company is not (and has not been for the five-year period ending at the Effective Time) a &ldquo;United States real property
holding corporation&rdquo; as defined in Section 897(c)(2) of the Code and the applicable Treasury Regulations.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>No
Acquiring Company has distributed stock of another Person, or has had its stock distributed by another Person, in a transaction
that was purported or intended to be governed in whole or in part by Sections 355 or 361 of the Code.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>No
Acquiring Company has taken or agreed to take any action that would prevent the Merger from constituting a reorganization qualifying
under Section 368 of the Code.&nbsp;&nbsp;No Acquiring Company is aware of any agreement, plan or other circumstance that would
prevent the Merger from qualifying as a reorganization under Section 368 of the Code.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 3.08&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Intellectual
Property</U></B>. To the knowledge of Parent, Parent and its Subsidiaries have, or own rights to use, all patents, patent applications,
trademarks, trademark applications, service marks, trade names, trade dress, trade secrets, know-how, software, inventions, copyrights,
licenses and other intellectual property rights that are necessary or required for, or used in connection with their respective
businesses as presently conducted and as presently proposed to be conducted and which the failure to so have would reasonably be
expected to have a Parent Material Adverse Effect (collectively, the &ldquo;<B><I>Parent Owned IP Rights</I></B>&rdquo;). Neither
Parent nor any of its Subsidiaries has received any written notice of a claim or otherwise has any knowledge of any claim that
any Parent Owned IP Right, or that the manufacture, sale, offer for sale, development, use or importation of any product, product
candidate or service by or on behalf of Parent or its Subsidiaries, violates, misappropriates or infringes upon rights of any Person,
except as would not have or reasonably be expected to have a Parent Material Adverse Effect.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>


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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 3.09&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Compliance
with Legal Requirements</U></B>.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Parent
and its Subsidiaries are not and have not been at any time in conflict with (i) any Legal Requirement, order, judgment or decree
applicable to Parent or any of its Subsidiaries or by which Parent or any of its Subsidiaries are bound or affected), or (ii) any
Contract to which Parent or any of its Subsidiaries is a party or by which Parent or any of its Subsidiaries or its or any of their
respective properties is bound or affected, except for any immaterial conflicts, defaults or violations.&nbsp;&nbsp;To Parent&rsquo;s
knowledge, no investigation or review by any Governmental Body is pending or, to the knowledge of Parent, threatened against Parent
or its Subsidiaries, nor any product Commercialized or intended to be Commercialized by Parent, nor has any Governmental Body indicated
to an Acquiring Company or its parent in writing an intention to conduct the same.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Parent
and its Subsidiaries hold all permits, licenses, registrations, authorizations, variances, exemptions, orders and approvals from
Governmental Bodies which are necessary to the operation of the business of Parent and its Subsidiaries taken as a whole (collectively,
the &ldquo;<B><I>Parent Permits</I></B>&rdquo;).&nbsp;&nbsp;Parent and its Subsidiaries are in compliance in all material respects
with the terms of the Parent Permits.&nbsp;&nbsp;No action, proceeding, revocation proceeding, amendment procedure, writ, injunction
or claim is pending or, to the knowledge of Parent, threatened, which seeks to revoke or limit any Parent Permit. Except as set
forth in Part 3.09(b) of the Parent Disclosure Schedule, the rights and benefits of each Parent Permit will be available to the
Surviving Corporation immediately after the Effective Time on terms substantially identical to those enjoyed by Parent immediately
prior to the Effective Time.&nbsp;&nbsp;Parent has made available to Company all Parent Permits and correspondence from the FDA
or other comparable Governmental Body.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
Acquiring Companies and Persons acting in concert with and on behalf of Parent:</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(i)</FONT></TD><TD>have not used in any capacity the services of any individual or entity debarred, excluded, or disqualified under 21 U.S.C.
Section 335a, 42 U.S.C.&nbsp;&nbsp;Section 1320a-7, 21 C.F.R. Section 312.70, or any similar laws, rules or regulations; and</TD></TR></TABLE>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(ii)</FONT></TD><TD>have not been convicted of any crime or engaged in any conduct that has resulted, or would reasonably be expected to result,
in debarment, exclusion, or disqualification under 21 U.S.C. Section 335a, 42 U.S.C. Section 1320a-7, 21 C.F.R. Section 312.70,
or any similar laws, rules regulations.</TD></TR></TABLE>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>None
of the Acquiring Companies, and to the knowledge of Parent, no Representative of any of the Acquiring Companies on their behalf
with respect to any matter relating to any of the Acquiring Companies, has:&nbsp;&nbsp;(i) used any funds for unlawful contributions,
gifts, entertainment or other unlawful expenses relating to political activity; (ii) made any unlawful payment to foreign or domestic
government officials or employees or to foreign or domestic political parties or campaigns or violated any provision of the Foreign
Corrupt Practices Act of 1977, as amended or (iii) made any other unlawful payment.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>No
product or product candidate Commercialized by or on behalf of Parent, or by or on behalf of any of the other Acquiring Companies,
has at any time been recalled, withdrawn, suspended or discontinued (whether voluntarily or otherwise).&nbsp;&nbsp;No Governmental
Body or institutional review board or comparable body has commenced, or threatened to initiate, any proceeding seeking the recall,
market withdrawal, suspension or withdrawal of approval, or seizure of any such product or product candidate; the imposition of
material sales, marketing or production restriction on any such product or product candidate; or the suspension, termination or
other restriction of preclinical or clinical research with respect to any such product candidate by or on behalf of any of the
Acquiring Companies, including any action regarding any investigator participating in any such research, nor is any such proceeding
pending. Parent has, prior to the execution of this Agreement, provided or made available to Company all information about adverse
drug experiences obtained or otherwise received by Parent or by any of the Acquiring Companies from any source, in the United States
or outside the United States, including information derived from clinical investigations prior to any market authorization approvals,
commercial marketing experience, postmarketing clinical investigations, postmarketing epidemiological/surveillance studies or registries,
reports in the scientific literature, and unpublished scientific papers relating to any product or product candidate Commercialized
by any of the Acquiring Companies.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Neither
Parent nor any of the other Acquiring Companies, or Persons acting in concert with or on behalf of Parent or any of the other Acquiring
Companies or any officers, employees or agents of the same, has with respect to any product that is Commercialized by or on behalf
of the Parent, or, any of the other Acquiring Companies, made an untrue statement of a material fact or fraudulent statement to
the FDA or any other Governmental Body, failed to disclose a material fact required to be disclosed to the FDA or any other Governmental
Body, or committed an act, made a statement, or failed to make a statement that, at the time such disclosure was made, would reasonably
be expected to provide a basis for the FDA to invoke its policy respecting &ldquo;Fraud, Untrue Statements of Material Facts, Bribery,
and Illegal Gratuities&rdquo; set forth in 56 Fed. Reg. 46191 (September 10, 1991) or any other Governmental Body to invoke any
similar policy.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>All
pre-clinical and clinical studies relating to Parent product or product candidates have been, or are being, conducted in all material
respects in compliance with the applicable requirements of the FDA&rsquo;s Good Laboratory Practice and Good Clinical Practice
requirements, including regulations under 21 C.F.R. Parts 50, 54, 56, 58, 312 and applicable guidance documents, as amended from
time to time, the Animal Welfare Act, and all applicable similar requirements in other jurisdictions, including all requirements
relating to protection of human subjects participating in any such clinical studies.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Parent
has, and each of the other Acquiring Companies have, filed with the FDA, any other Governmental Body, and any institutional review
board or comparable body, all required notices, supplemental applications, and annual or other reports, including adverse experience
reports, with respect to each investigational new drug application or any comparable foreign regulatory application, related to
the manufacture, testing, study, or sale of any of its products or product candidates, as applicable.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Parent
and the other Acquiring Companies, and their Representatives, are and at all times have been, in compliance with, and the business
of Parent and the other Acquiring Companies (including the research, development, labeling, manufacture, testing, storage, use,
sale, offer for sale, importation, and other distribution or commercial exploitation of any products Commercialized by or on behalf
of Parent) has been operated in accordance with, all Legal Requirements relating to health care regulatory matters, including to
the extent applicable, each of the following: (i) all applicable Legal Requirements of any Regulatory Authorities, including the
federal Food, Drug, and Cosmetic Act (21 U.S.C. &sect; 321 <I>et seq</I>.), the federal Anti-Kickback Statute (42 U.S.C. &sect;
1320a-7b(b)), the Anti-Inducement Law (42 U.S.C. &sect; 1320a-7a(a)(5)), the Federal Civil Monetary Penalties Law (42 U.S.C. &sect;&sect;
1320a-7a and 1320a-7b), the Stark Law (42 U.S.C. &sect; 1395nn), the Health Insurance Portability and Accountability Act of 1996
(42 U.S.C. &sect; 1320d <I>et seq</I>.), the exclusion laws (42 U.S.C. &sect; 1320a-7), the Physician Payments Sunshine Act (42
U.S.C. &sect; 1320a-7h), and the implementing rules, regulations, and guidance documents promulgated pursuant to the foregoing
laws, (ii) the applicable Legal Requirements precluding off-label marketing of drugs, devices and other health care products, (iii)
all other United States laws and regulations with respect to the marketing, sale, pricing, price reporting, and reimbursement of
drugs, devices and other health care products, including the provisions of the Federal False Claims Act, 31 U.S.C. &sect;3729 <I>et
seq</I>., the Medicare Program (Title XVIII of the Social Security Act), the Medicaid Program (Title XIX of the Social Security
Act), and the regulations promulgated pursuant to such Legal Requirements, and (iv) any state, local or foreign equivalents to
any of the foregoing. No event has occurred, and no condition or circumstance exists, that will constitute or result in a violation
by Parent or the other Acquiring Companies of, or a failure on the part of Parent or the other Acquiring Companies to comply with,
any such Legal Requirements.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 3.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Legal
Proceedings; Orders</U></B>.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Except
as set forth in Part 3.10(a) of the Parent Disclosure Schedule, there is no pending Legal Proceeding, and no Person has threatened
in writing to commence any Legal Proceeding:&nbsp;&nbsp;(i) that involves any of the Acquiring Companies, any business of any of
the Acquiring Companies or any of the assets owned, leased or used by any of the Acquiring Companies or (ii) that challenges, or
that may have the effect of preventing, delaying, making illegal or otherwise interfering with, the Merger or any of the other
Parent Transactions.&nbsp;&nbsp;Except as set forth in Part 3.10(a)(i) of the Parent Disclosure Schedule, none of the Legal Proceedings
identified in Part 3.10(a) of the Parent Disclosure Schedule has had or, if adversely determined, would reasonably be expected
to have or result in a Parent Material Adverse Effect.&nbsp;&nbsp;To the knowledge of Parent, no event has occurred, and no claim,
dispute or other condition or circumstance exists, that would reasonably be expected to give rise to or serve as a basis for the
commencement of any Legal Proceeding of the type described in clause &ldquo;(i)&rdquo; or clause &ldquo;(ii)&rdquo; of the first
sentence of this Section 3.10(a).</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>There
is no Order to which any of the Acquiring Companies, or any material assets owned or used by any of the Acquiring Companies, is
subject.&nbsp;&nbsp;To the knowledge of Parent, no officer or other key employee of any of the Acquiring Companies is subject to
any Order that prohibits such officer or other key employee from engaging in or continuing any conduct, activity or practice relating
to the business of any of the Acquiring Companies.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 3.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Brokers&rsquo;
And Finders&rsquo; Fees</U></B>.&nbsp;&nbsp;Except as set forth in Part 3.11 of the Parent Disclosure Schedule, no broker, finder
or investment banker is entitled to any brokerage, finder&rsquo;s or other fee or commission in connection with the Merger or any
of the other Transactions based upon arrangements made by or on behalf of any of the Acquiring Companies.&nbsp;&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 3.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Employee
Benefit Plans</U></B>.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Part
3.12(a) of the Parent Disclosure Schedule sets forth, as of the date of this Agreement, a complete and accurate list of each material
Employee Benefit Plan which is currently sponsored, maintained, contributed to, or required to be contributed to or with respect
to which any potential liability is borne by Parent or any ERISA Affiliate of Parent (collectively, the &ldquo;<B><I>Parent Employee
Plans</I></B>&rdquo;).&nbsp;&nbsp;Neither Parent nor, to the knowledge of Parent, any other person or entity, has made any commitment
to modify, change or terminate any Parent Employee Plan, other than with respect to a modification, change or termination required
by Legal Requirements.&nbsp;&nbsp;With respect to each material Parent Employee Plan, Parent has made available to Company, accurate
and complete copies of the following documents: (i) the plan document and any related trust agreement, including amendments thereto;
(ii) any current summary plan descriptions and other material communications to participants relating to the plan; (iii) each plan
trust, insurance, annuity or other funding contract or service provider agreement related thereto; (iv) the most recent plan financial
statements and actuarial or other valuation reports prepared with respect thereto, if any; (v) the most recent IRS determination
or opinion letter, if any; (vi) copies of the most recent plan year nondiscrimination and coverage testing results for each plan
subject to such testing requirements; and (vii) the most recent annual reports (Form 5500) and all schedules attached thereto for
each Parent Employee Plan that is subject to ERISA and Code reporting requirements.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Each
Parent Employee Plan is being, and has been, administered in accordance with its terms and in compliance with the requirements
prescribed by any and all Legal Requirements (including ERISA and the Code), in all material respects.&nbsp;&nbsp;Parent is not
in material default under or material violation of, and have no knowledge of any material defaults or material violations by any
other party to, any of Parent Employee Plans.&nbsp;&nbsp;All contributions required to be made by Parent or any ERISA Affiliate
to any Parent Employee Plan have been timely paid or accrued on the most recent Parent Financials on file with the SEC, if required
under GAAP.&nbsp;&nbsp;Any Parent Employee Plan intended to be qualified under Section 401(a) of the Code has either obtained from
the Internal Revenue Service a favorable determination letter or opinion letter as to its qualified status under the Code, and
to the knowledge of Parent, no event has occurred and no condition exists with respect to the form or operation of such Parent
Employee Plan that would cause the loss of such qualification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in; color: #010000">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>No
Parent Employee Plan provides retiree medical or other retiree welfare benefits to any person, except as required by COBRA. No
suit, administrative proceeding or action has been brought, or to the knowledge of Parent, is threatened against or with respect
to any such Parent Employee Plan, including any audit or inquiry by the Internal Revenue Service or the United States Department
of Labor (other than routine claims for benefits arising under such plans).&nbsp;&nbsp;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Neither
Parent nor any ERISA Affiliate of Parent has, during the past six (6) years from the date hereof, maintained, established, sponsored,
participated in or contributed to, or is obligated to contribute to, or otherwise incurred any obligation or liability (including
any contingent liability) under, any &ldquo;multiemployer plan&rdquo; (as defined in Section 3(37) of ERISA) or any &ldquo;pension
plan&rdquo; (as defined in Section 3(2) of ERISA) subject to Title IV of ERISA or Section 412 of the Code.&nbsp;&nbsp;Neither Parent
nor any ERISA Affiliate has, as of the date of this Agreement, any actual or potential withdrawal liability (including any contingent
liability) for any complete or partial withdrawal (as defined in Sections 4203 and 4205 of ERISA) from any multiemployer plan.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Except
as set forth in Part 3.12(e) of the Parent Disclosure Schedule, consummation of the Merger will not (i) entitle any current or
former employee or other service provider of Parent or any ERISA Affiliate to severance benefits or any other payment (including
unemployment compensation, golden parachute, bonus or benefits under any Parent Employee Plan); (ii) accelerate the time of payment
or vesting of any such benefits or increase the amount of compensation due any such employee or service provider; (iii) result
in the forgiveness of any indebtedness; (iv) result in any obligation to fund future benefits under any Parent Employee Plan; or
(v) result in the imposition of any restrictions with respect to the amendment or termination of any of Parent Employee Plans.
No benefit payable or that may become payable by Parent pursuant to any Parent Employee Plan in connection with the Parent Transactions&nbsp;or
as a result of or arising under this Agreement will constitute an &ldquo;excess parachute payment&rdquo; (as defined in Section
280G(b)(1) of the Code) subject to the imposition of an excise Tax under Section 4999 of the Code or the deduction for which would
be disallowed by reason of Section 280G of the Code.&nbsp;&nbsp;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 3.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Title
to Assets; Real Property</U></B>.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
Acquiring Companies own, and have good, valid and marketable title to, or, in the case of leased assets, valid leasehold interests
in or other rights to use, all tangible assets purported to be owned or leased by them.&nbsp;&nbsp;All of said assets are owned
or leased by the Acquiring Companies free and clear of any Encumbrances, except for Permitted Liens.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
Acquiring Companies do not own and have not, since the Parent Lookback Date, owned any real property or any interest in real property,
except for the leaseholders created under the real property leases identified in Part 3.13(b) of the Parent Disclosure Schedule.&nbsp;&nbsp;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 3.14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Environmental
Matters</U></B>.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>No
Hazardous Material has been released as a result of the deliberate actions of Parent or any of its Subsidiaries, or, to Parent&rsquo;s
knowledge, as a result of any actions of any third party or otherwise, in, on or under any property, including the land and the
improvements, ground water and surface water thereof, that Parent or any of its Subsidiaries currently owns, operates, occupies
or leases, in such quantities as would cause a Parent Material Adverse Effect.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Neither
Parent nor any of its Subsidiaries has engaged in Hazardous Material Activitie<B><I>s</I></B> in material violation of any Legal
Requirement in effect on or before the date hereof.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Parent
and its Subsidiaries currently hold all environmental approvals, permits, licenses, clearances and consents (the &ldquo;<B><I>Parent
Environmental Permits</I></B>&rdquo;) necessary for the conduct of Parent&rsquo;s and its Subsidiaries&rsquo; Hazardous Material
Activities and other businesses of Parent and its Subsidiaries as such activities and businesses are currently being conducted,
except where the failure to so hold would not have a Parent Material Adverse Effect.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>No
material action, proceeding, revocation proceeding, amendment procedure, writ, injunction or claim is pending, or to the knowledge
of Parent, threatened concerning any Parent Environmental Permit, Hazardous Material or any Hazardous Material Activity of Parent
or any of its Subsidiaries.&nbsp;&nbsp;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 3.15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Parent
Contracts</U></B>.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Except
for Excluded Contracts or as set forth in the most recent exhibit list on Parent&rsquo;s Form 10-K for the year ended December
31, 2017 or subsequently filed with the SEC pursuant to any current or periodic report and available on the SEC Website or Parts
3.08(b) or 3.14 of the Parent Disclosure Schedule, neither Parent nor any of its Subsidiaries is a party to or is bound by:</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(i)</FONT></TD><TD>any management, employment, severance, retention, transaction bonus, change in control, material consulting, relocation, repatriation
or expatriation agreement or other similar Contract between:&nbsp;&nbsp;(i) any of the Acquiring Companies and (ii) any active,
retired or former employees, directors or material consultants of any Acquiring Company, other than any such Contract that is (x)
terminable &ldquo;at will&rdquo; (or following a notice period imposed by applicable Legal Requirements or, in the case of consulting
agreements, following the notice period required in the Contract), or (y) without any obligation on the part of any Acquiring Company,
other than severance payments required to be made by any Acquiring Company under applicable Legal Requirements;</TD></TR></TABLE>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(ii)</FONT></TD><TD>any Contracts identified or required to be identified in Part 3.13(b) of the Parent Disclosure Schedule;</TD></TR></TABLE>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(iii)</FONT></TD><TD>any Contract with any distributor, reseller or sales representative with an annual value in excess of $100,000;</TD></TR></TABLE>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(iv)</FONT></TD><TD>any Contract with any manufacturer, vendor, or other Person for the supply of materials or performance of services by such
third party to Parent in relation to the manufacture of the Parent&rsquo;s products or product candidates with an annual value
in excess of $100,000;</TD></TR></TABLE>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(v)</FONT></TD><TD>any agreement or plan, including, without limitation, any stock option plan, stock appreciation right plan or stock purchase
plan, any of the benefits of which will be increased, or the vesting of benefits of which will be accelerated, by the occurrence
of any of the Parent Transactions or the value of any of the benefits of which will be calculated on the basis of any of the Parent
Transactions;</TD></TR></TABLE>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(vi)</FONT></TD><TD>any Contract incorporating or relating to any guaranty, any warranty, any sharing of liabilities or any indemnity not entered
into in the ordinary course of business, including any indemnification agreements between Parent or any of its Subsidiaries and
any of its officers or directors;</TD></TR></TABLE>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(vii)</FONT></TD><TD>any Contract imposing, by its express terms, any material restriction on the right or ability of any Acquiring Company:&nbsp;&nbsp;(A)
to compete with any other Person; (B) to acquire any product or other asset or any services from any other Person; or (C) to develop,
sell, supply, distribute, offer, support or service any product or any technology or other asset to or for any other Person;</TD></TR></TABLE>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -0.5in">&nbsp;</P>


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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(viii)</FONT></TD><TD>any Contract currently in force relating to the disposition or acquisition of assets not in the ordinary course of business
or any ownership interest in any corporation, partnership, joint venture or other business enterprise;</TD></TR></TABLE>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(ix)</FONT></TD><TD>any mortgages, indentures, loans or credit agreements, security agreements or other agreements or instruments relating to the
borrowing of money or extension of credit;</TD></TR></TABLE>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(x)</FONT></TD><TD>any joint marketing or development agreement;</TD></TR></TABLE>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(xi)</FONT></TD><TD>any commercial Contract that would reasonably be expected to have a material effect on the ability of Parent to perform any
of its material obligations under this Agreement, or to consummate any of the transactions contemplated by this Agreement, that
is not set forth on Part 3.03 of the Company Disclosure Schedule;</TD></TR></TABLE>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(xii)</FONT></TD><TD>any Contract that provides for:&nbsp;&nbsp;(A) any right of first refusal, right of first negotiation, right of first notification
or similar right with respect to any securities or assets of any Acquiring Company; or (B) any &ldquo;no shop&rdquo; provision
or similar exclusivity provision with respect to any securities or assets of any Acquiring Company;</TD></TR></TABLE>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(xiii)</FONT></TD><TD>any Contract that contemplates or involves the payment or delivery of cash or other consideration in an amount or having a
value in excess of $100,000 in the aggregate, or contemplates or involves the performance of services having a value in excess
of $100,000 in the aggregate, in each case following the date of this Agreement, other than any arrangement or agreement expressly
contemplated or provided for under this Agreement; or</TD></TR></TABLE>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: #010000">(xiv)</FONT></TD><TD>any Contract that does not allow Parent or Subsidiary to terminate the Contract for convenience with no more than sixty (60)
days prior notice to the other party and without the payment of any rebate, chargeback, penalty or other amount to such third party
in connection with any such termination in an amount or having a value in excess of $100,000 in the aggregate.</TD></TR></TABLE>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Parent
has made available to Company an accurate and complete copy of each Contract listed or required to be listed in Part 3.14 of the
Parent Disclosure Schedule (any such Contract, including any Contract that would be listed in Part 3.14 but for its inclusion in
the most recent exhibit list of Parent&rsquo;s Form 10-K for the year ended December 31, 2017 or as an exhibit to any current or
periodic report subsequently filed with the SEC, but excluding Excluded Contracts, a &ldquo;<B><I>Parent Contract</I></B>&rdquo;).&nbsp;&nbsp;Neither
Parent nor any of its Subsidiaries, nor to Parent&rsquo;s knowledge any other party to a Parent Contract, has, since the Parent
Lookback Date, breached or violated in any material respect or materially defaulted under, or received written notice that it has
breached, violated or defaulted under, any of the terms or conditions of any of the Parent Contracts.&nbsp;&nbsp;To the knowledge
of Parent, no event has occurred, and, no circumstance or condition exists, that (with or without notice or lapse of time) would
reasonably be expected to:&nbsp;&nbsp;(i) result in a violation or breach in any material respect of any of the provisions of any
Parent Contract or (ii) give any Person the right to declare a default in any material respect under any Parent Contract, except
for any immaterial violations, breaches or defaults.&nbsp;&nbsp;To Parent&rsquo;s knowledge, each Parent Contract is valid, binding,
enforceable and in full force and effect, except as enforceability may be limited by bankruptcy and other similar laws and general
principles of equity.</P>

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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 3.16&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Insurance</U></B>.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Part
3.16(a) of the Parent Disclosure Schedule sets forth each material insurance policy (the &ldquo;<B><I>Parent Insurance Policies</I></B>&rdquo;)
to which Parent or its Subsidiaries is a party.&nbsp;&nbsp;Parent or its Subsidiaries maintain all Parent Insurance Policies in
such amounts, with such deductibles and against such risks and losses that are reasonably adequate for the operation of Parent&rsquo;s
and its Subsidiaries&rsquo; businesses in all material respects.&nbsp;&nbsp;To Parent&rsquo;s knowledge, such Parent Insurance
Policies are in full force and effect, maintained with reputable companies against loss relating to the business, operations and
properties and such other risks as companies engaged in similar business as the Acquiring Companies would, in accordance with good
business practice, customarily insure.&nbsp;&nbsp;Since the Parent Lookback Date, all premiums due and payable under such Parent
Insurance Policies have been paid on a timely basis and each Acquiring Company is in compliance in all material respects with all
other terms thereof.&nbsp;&nbsp;True, complete and correct copies, of such Parent Insurance Policies, or summaries of all terms
material thereof, have been made available to the Company.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>There
are no material claims pending under any Parent Insurance Policies as to which coverage has been questioned, denied or disputed.
Since the Parent Lookback Date, all material claims thereunder have been filed in a due and timely fashion and no Acquiring Company
has been refused insurance for which it has applied or had any policy of insurance terminated (other than at its request), nor
has any Acquiring Company received notice from any insurance carrier that:&nbsp;&nbsp;(i) such insurance will be canceled or that
coverage thereunder will be reduced or eliminated; or (ii) premium costs with respect to such insurance will be increased, other
than premium increases in the ordinary course of business applicable on their terms to all holders of similar policies.&nbsp;&nbsp;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 3.17&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Interested
Party Transactions</U></B>.&nbsp;&nbsp;Except as set forth in the SEC Documents, no event has occurred during the Parent Lookback
Period that would be required to be reported by Parent as a Certain Relationship or Related Transaction pursuant to Item 404 of
Regulation S-K.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 3.18&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Opinion
of Financial Advisor</U></B>.&nbsp;&nbsp;The board of directors of Parent has received an opinion of H.C. Wainwright &amp; Co.,
financial advisor to Parent, dated the date of this Agreement, to the effect that the Exchange Ratio is fair to Parent from a financial
point of view.&nbsp;&nbsp;Parent will furnish an accurate and complete copy of said opinion to Company for informational purposes
only promptly after the date hereof.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 3.19&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Shell
Company Status</U></B>.&nbsp;&nbsp;Parent is not an issuer identified in Rule 144(i)(1)(i) of the Securities Act.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 3.20&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Valid
Issuance</U></B>.&nbsp;&nbsp;The Parent Common Stock to be issued in the Merger will, when issued in accordance with the provisions
of this Agreement be validly issued, fully paid and nonassessable.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 3.21&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Disclosure;
Parent Information</U></B>. The information relating to Parent or its Subsidiaries to be supplied by or on behalf of Parent for
inclusion or incorporation by reference in the Proxy Statement will not, on the date the Proxy Statement is first mailed to Parent
stockholders or at the time of the Parent Stockholders&rsquo; Meeting, contain any untrue statement of any material fact, or omit
to state any material fact required to be stated therein or necessary in order to make the statements therein, in light of the
circumstances under which they are made, not false or misleading at the time and in light of the circumstances under which such
statement is made.&nbsp;&nbsp;The Proxy Statement will comply in all material respects as to form with the requirements of the
Exchange Act and the rules and regulations thereunder.&nbsp;&nbsp;Notwithstanding the foregoing, no representation is made by Parent
or Merger Sub with respect to the information that has been or will be supplied by the Company or any of it Representatives for
inclusion in the Proxy Statement.</P>

<P STYLE="color: #010000; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="color: #010000; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">Article
IV.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">CONDUCT
OF BUSINESS PENDING THE MERGER</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 4.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Conduct
of Company Business</U></B>.&nbsp;&nbsp;During the period from the date of this Agreement and continuing until the earlier of the
termination of this Agreement pursuant to its terms or the Effective Time (the &ldquo;<B><I>Pre-Closing Period</I></B>&rdquo;),
Company agrees, except to the extent that Parent consents in writing (such consent not to be unreasonably withheld, conditioned
or delayed), as set forth on Part 4.01 of the Company Disclosure Schedule, as expressly permitted by this Agreement, in connection
with a Permitted Financing or by applicable Legal Requirements, to carry on its business in accordance with good commercial practice
and to carry on its business in the usual, regular and ordinary course, consistent with past practice, to pay its debts and Taxes
when due subject to good faith disputes over such debts or Taxes, to pay or perform other obligations when due, and use its commercially
reasonable efforts consistent with past practices and policies to preserve intact its present business organization, keep available
the services of its present officers and employees and preserve its relationships with customers, suppliers, distributors, licensors,
licensees, and others with which it has business dealings.&nbsp;&nbsp;In addition, without limiting the foregoing, other than as
expressly contemplated by this Agreement or in connection with a Permitted Financing, without obtaining the written consent of
Parent, which shall not be unreasonably withheld (and in which event, if Parent has not objected in writing to any request for
consent within 3 calendar days of its receipt thereof, such consent shall be deemed irrevocably granted), Company will not, and
will not permit its Subsidiaries to, do any of the following:</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>amend
or otherwise change its certificate of incorporation or bylaws, or otherwise alter its corporate structure through merger, liquidation,
reorganization or otherwise, except in connection with a Permitted Financing;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>issue,
sell, pledge, dispose of or encumber, or authorize the issuance, sale, pledge, disposition or encumbrance of, any shares of capital
stock of any class, or any options, warrants, convertible securities or other rights of any kind to acquire any shares of capital
stock, or any other ownership interest (including, without limitation, any phantom interest), except for (i) the issuance of shares
of Company Capital Stock issuable pursuant to employee stock options under currently existing employee stock option plans or pursuant
to currently outstanding warrants or other rights to convert into or exercise for shares of Company Capital Stock, as the case
may be, which options, warrants or rights, as the case may be, are outstanding on the date hereof and (ii) in connection with a
Permitted Financing;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>redeem,
repurchase or otherwise acquire, directly or indirectly, any shares of Company Capital Stock (other than pursuant a repurchase
right in favor of the Company with respect to unvested shares at no more than cost);</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>incur
any Indebtedness or sell any debt securities or guarantee any debt securities or other obligations of others or sell, pledge, dispose
of or create an Encumbrance over any assets;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>(i)
declare, set aside, make or pay any dividend or other distribution (whether in cash, stock or property or any combination thereof)
in respect of any of its capital stock, except that a wholly owned Subsidiary may declare and pay a dividend to its parent; (ii)
split, combine or reclassify any of its capital stock or issue or authorize or propose the issuance of any other securities in
respect of, in lieu of or in substitution for shares of its capital stock or (iii) amend the terms of, repurchase, redeem or otherwise
acquire, or permit any Subsidiary to repurchase, redeem or otherwise acquire, any of its securities or any securities of its Subsidiaries
(except pursuant to any Contract to which an Acquired Company is a party as of the date of this Agreement), or propose to do any
of the foregoing;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>accelerate,
amend or change the period (or permit any acceleration, amendment or change) of exercisability of options or warrants or authorize
cash payments in exchange for any options, except as may be required under any Company Stock Option Plan, Contract or this Agreement
or as may be required by applicable Legal Requirements;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>sell,
assign, transfer, license, sublicense or otherwise dispose of any Company IP Rights;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>(i)
acquire (by merger, consolidation, or acquisition of stock or assets) any corporation, partnership or other business organization
or division thereof or any other material property or assets, in each case with an individual value in excess of $50,000; (ii)
enter into or amend any material terms of any Company Contract or grant any release or relinquishment of any material rights under
any Company Contract, with new obligations or losses of rights in excess of $50,000; (iii) authorize any capital expenditures or
purchase of fixed assets which are, in the aggregate, in excess of $50,000, taken as a whole or (iv) enter into or amend any contract,
agreement, commitment or arrangement to effect any of the matters prohibited by this Section 4.01(h);</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>forgive
any loans to any Person, including its employees, officers, directors or Affiliates;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>take
any action, other than as required by applicable Legal Requirements or GAAP, to change accounting policies or procedures;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>(i)
increase the wages, salary, commissions, fringe benefits or other compensation or remuneration payable or to become payable to
its directors, officers, employees or consultants;&nbsp;&nbsp;(ii) grant any severance or termination pay to, or enter into or
amend any employment or severance agreement with, any director,&nbsp;&nbsp;officer, employee or consultant; (iii) establish, adopt,
enter into, or amend any Employee Benefit Plan, except, in each of the subsections (i) &ndash; (iii) for bonus awards in the ordinary
course of business consistent with past practice or bonus awards contingent upon the completion of the Transactions or payments,
including any severance, termination or change of control payments, in compliance with any such agreements or plans existing as
of the date of this Agreement and the plans, agreements or terms of which were made available to the Parent prior to the date hereof,
or except as required by Legal Requirements;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>hire
any directors, officers, employees or consultants or terminate any directors or officers, except in each case, in the ordinary
course of business and in a manner consistent with past practice;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>make
or change any material Tax election inconsistent with past practices, adopt or change any Tax accounting method, or settle or compromise
any material federal, state, local or foreign Tax liability or agree to an extension of a statute of limitations for any assessment
of any Tax;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(n)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>pay,
discharge or satisfy any claims, liabilities or obligations (absolute, accrued, asserted or unasserted, contingent or otherwise),
other than the payment, discharge or satisfaction in the ordinary course of business and consistent with past practice;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(o)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>otherwise
take any actions other than in the ordinary course of business consistent with past practice;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(p)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>enter
into any material partnership arrangements, joint development agreements or strategic alliances;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(q)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>initiate
any litigation, action, suit, proceeding, claim or arbitration or settle or agree to settle any litigation, action, suit, proceeding,
claim or arbitration, in each case where the Company and its Subsidiaries are claiming, or would be reasonably likely to receive
or become obligated for a liability, of more than $100,000 individually;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(r)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>except
to the extent expressly permitted by this Agreement, take any action that is intended or that would reasonably be expected to,
individually or in the aggregate, prevent, materially delay, or materially impede the consummation of the Merger, or the other
Transactions; or</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(s)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>take,
or agree in writing or otherwise to take, any of the actions described in Sections 4.01(a) through (r) above.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 4.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Conduct
of Parent Business</U></B>.&nbsp;&nbsp;During the Pre-Closing Period, Parent agrees, except to the extent that Company consents
in writing (such consent not to be unreasonably withheld, conditioned or delayed), as set forth on Part 4.02 of the Company Disclosure
Schedule, as expressly permitted by this Agreement, in connection with the Spin-Off (effected in compliance with the provisions
of Section 5.29), in connection with the implementation of any alternative structures resulting in only the pre-Effective Time
Parent shareholders of record receiving any interest in the Spin-Off (to the extent the Spin-Off is not consummated prior to, or
concurrently with, the Effective Time) or by applicable Legal Requirements, to carry on its business in accordance with good commercial
practice and to carry on its business in the usual, regular and ordinary course, in substantially the same manner as heretofore
conducted, to pay its debts and Taxes when due subject to good faith disputes over such debts or Taxes, to pay or perform other
material obligations when due, and use its commercially reasonable efforts consistent with past practices and policies to preserve
intact its present business organization, preserve its relationships with key customers, suppliers, distributors, licensors, licensees
and others with which it has business dealings.&nbsp;&nbsp;In addition, without limiting the foregoing, other than as set forth
on Part 4.02 of the Company Disclosure Schedule or as expressly contemplated by this Agreement, without obtaining the written consent
of Company, which shall not be unreasonably withheld, conditioned or delayed (and in which event, if Company has not objected in
writing to any request for consent within 3 calendar days of its receipt thereof, such consent shall be deemed irrevocably granted),
Parent will not, and will not permit its Subsidiaries to, do any of the following:</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>except
for the Parent Charter Amendment, amend or otherwise change its certificate of incorporation or bylaws, or otherwise alter its
corporate structure through merger, liquidation, reorganization or otherwise, or form any subsidiary;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>issue,
sell, pledge, dispose of or encumber, or authorize the issuance, sale, pledge, disposition or encumbrance of, any shares of capital
stock of any class, or any options, warrants, convertible securities or other rights of any kind to acquire any shares of capital
stock, or any other ownership interest (including, without limitation, any phantom interest), other than the issuance of shares
of common stock issuable pursuant to employee stock options under currently existing employee stock option plans or pursuant to
currently outstanding warrants, as the case may be, which options, warrants or rights, as the case may be, are outstanding on the
date hereof) to the extent such issuances comply with all applicable Legal Requirements;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>redeem,
repurchase or otherwise acquire, directly or indirectly, any shares of Parent Capital Stock;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>incur
any Indebtedness or sell, pledge, dispose of or create an Encumbrance over any assets (except for (i) sales of assets in the ordinary
course of business and in a manner consistent with past practice, and (ii) dispositions of obsolete or worthless assets);</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>accelerate,
amend or change the period (or permit any acceleration, amendment or change) of exercisability of options or warrants or authorize
cash payments in exchange for any options, except as may be required under any Parent Stock Option Plan, Contract or this Agreement
or as may be required by applicable Legal Requirements;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>except
for the Cash Dividend , (i) declare, set aside, make or pay any dividend or other distribution (whether in cash, stock or property
or any combination thereof) in respect of any of its capital stock; (ii) split, combine or reclassify any of its capital stock
or issue or authorize or propose the issuance of any other securities in respect of, in lieu of or in substitution for shares of
its capital stock or (iii) amend the terms of, repurchase, redeem or otherwise acquire, or permit any Subsidiary to repurchase,
redeem or otherwise acquire, any of its securities or any securities of its Subsidiaries (except pursuant to any Contract to which
an Acquiring Company is a party as of the date of this Agreement), or propose to do any of the foregoing;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>sell,
assign, transfer, license, sublicense or otherwise dispose of any Parent IP Rights (other than non-exclusive licenses in the ordinary
course of business consistent with past practice);</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>(i)
acquire (by merger, consolidation, or acquisition of stock or assets) any corporation, partnership or other business organization
or division thereof or any other material property or assets, or allow any material property or assets to become subject to any
Encumbrance; (ii) other than with respect to the Yardley Lease, enter into or amend any material terms of any Parent Contract (other
than solely to decrease any payment obligation of the Acquiring Company) or grant any release or relinquishment of any material
rights under any Parent Contract, with new obligations or losses of rights in excess of $50,000 in the aggregate; (iii) authorize
any capital expenditures or purchase of fixed assets which are, in the aggregate, in excess of $50,000, taken as a whole; or (iv)
other than with respect to the Yardley Lease, enter into or amend any contract, agreement, commitment or arrangement to effect
any of the matters prohibited by this Section 4.02(h);</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>forgive
any loans to any Person, including its employees, officers, directors or Affiliates;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>(i)
increase the wages, salary, commissions, fringe benefits or other compensation or remuneration payable or to become payable to
its directors, officers, employees or consultants;&nbsp;&nbsp;(ii) grant any severance or termination pay to, or enter into or
amend any employment or severance agreement with, any director,&nbsp;&nbsp;officer, employee or consultant; (iii) establish, adopt,
enter into, or amend any Employee Benefit Plan, except, in each of the subsections (i) &ndash; (iii) for bonus awards in the ordinary
course of business consistent with past practice or bonus awards contingent upon the completion of the Transactions or payments,
including any severance, termination or change of control payments, in compliance with any such agreements or plans existing as
of the date of this Agreement and the plans, agreements or terms of which were made available to the Company prior to the date
hereof, or except as required by Legal Requirements;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>hire
any directors, officers, employees or consultants or terminate any directors or officers, except in each case, in the ordinary
course of business and in a manner consistent with past practice;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>take
any action, other than as required by applicable Legal Requirements or GAAP, to change accounting policies or procedures;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>make
or change any material Tax election inconsistent with past practices, adopt or change any Tax accounting method, or settle or compromise
any material federal, state, local or foreign Tax liability or agree to an extension of a statute of limitations for any assessment
of any Tax;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(n)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>pay,
discharge, satisfy, modify or renegotiate any claims or Liabilities, other than the payment, discharge or satisfaction of liabilities
reflected or reserved against in the financial statements of Company, or payments, discharges or satisfactions made in the ordinary
course of business and consistent with past practice;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(o)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>enter
into any material partnership arrangements, joint development agreements or strategic alliances;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(p)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>accelerate
the collection of, or otherwise modify Parent&rsquo;s customary accounting or treatment of, any receivables outside the ordinary
course of business consistent with past practice,</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(q)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>initiate
any litigation, action, suit, proceeding, claim or arbitration or settle or agree to settle any litigation, action, suit, proceeding,
claim or arbitration, in each case where Parent is claiming, or would be reasonably likely to receive or become obligated for a
liability, of more than $100,000 individually;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(r)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>dispose
of any assets or otherwise take any actions other than in the ordinary course of business consistent with past practice;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(s)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>take
any action that would cause the representation in Section 3.20 to become inaccurate;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(t)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>other
than with respect to the Yardley Lease (<I>provided, that</I>, the Company has a reasonable opportunity to review and consent to
any modification with respect to the Yardley Lease), enter into or amend or modify any Parent Contract or any lease with respect
to material real estate or any other Contract or lease that, if in effect as of the date hereof would constitute a Parent Contract
or lease with respect to material real estate hereunder; or</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(u)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>except
to the extent expressly permitted by this Agreement, take any action that is intended or that would reasonably be expected to,
individually or in the aggregate, prevent, materially delay, or materially impede the consummation of the Merger, or the other
Transactions;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>take,
or agree in writing or otherwise to take, any of the actions described in Sections 4.02(a) through 4.02(u) above.</P>

<P STYLE="color: #010000; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="color: #010000; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">Article
V.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">ADDITIONAL
AGREEMENTS</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 5.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Proxy
Statement</U></B>.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>As
promptly as practicable after the date of this Agreement, the Parties shall prepare and cause to be filed with the SEC a preliminary
Proxy Statement. Reasonably promptly following (i) confirmation by the SEC that it has no further comments or (ii) expiration of
the 10-day waiting period contemplated by Rule 14a-6(a) promulgated under the Exchange Act, (A) Parent will cause the Proxy Statement
in definitive form to be mailed to the stockholders of Parent and (B) Company will cause the Proxy Statement in definitive form
to be mailed to stockholders of Company.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Parent
covenants and agrees that the&nbsp;Proxy Statement, including any pro forma financial statements included therein (and the letter
to stockholders, notice of meeting and form of proxy included therewith), will not, at the time that the Proxy Statement or any
amendment or supplement thereto is filed with the SEC or is first mailed to the stockholders of Parent, at the time of the Parent
Stockholders&rsquo; Meeting and at the Effective Time, contain any untrue statement of a material fact or omit to state any material
fact required to be stated therein or necessary in order to make the statements made therein, in light of the circumstances under
which they were made, not misleading. Company represents, covenants and agrees that the information provided by Company or its
Subsidiaries to Parent for inclusion in the Proxy Statement (including the Company Financials) will not contain any untrue statement
of a material fact or omit to state any material fact required to be stated therein or necessary in order to make such information
not misleading. Notwithstanding the foregoing, Parent makes no covenant, representation or warranty with respect to statements
made in the&nbsp;Proxy Statement (and the letter to stockholders, notice of meeting and form of proxy included therewith), if any,
based on information furnished in writing by Company specifically for inclusion therein. Each of the Parties shall use commercially
reasonable efforts to cause the Proxy Statement to comply with the applicable rules and regulations promulgated by the SEC and
to respond promptly to any comments of the SEC or its staff. Each of the Parties shall use commercially reasonable efforts to cause
the Proxy Statement to be mailed to Parent&rsquo;s stockholders as promptly as practicable after the SEC concludes its review of
the preliminary Proxy Statement or expiration of the 10-day waiting period contemplated by Rule 14a-6(a) promulgated under the
Exchange Act. Each Party shall promptly furnish to the other Party all information concerning such Party and such Party&rsquo;s
subsidiaries and such Party&rsquo;s stockholders that may be required or reasonably requested in connection with any action contemplated
by this Section 5.01. If any event relating to Parent or Company occurs, or if Parent or Company becomes aware of any information,
that should be disclosed in an amendment or supplement to the Proxy Statement, then Parent or Company, as applicable, shall promptly
inform the other party thereof and shall cooperate with one another in filing such amendment or supplement with the SEC and, if
appropriate, in mailing such amendment or supplement to Parent&rsquo;s stockholders. No filing of, or amendment or supplement to,
the Proxy Statement will be made by Parent without the prior written consent of Company, which shall not be unreasonably withheld,
conditioned or delayed. The Proxy Statement shall constitute a disclosure document for the offer and issuance of the shares of
Parent Common Stock pursuant to this Agreement.&nbsp;&nbsp;Company and Parent shall each use commercially reasonable efforts to
cause the Proxy Statement to comply with applicable federal and state securities laws requirements.</P>

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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Company
shall reasonably cooperate with Parent and provide, and require its Representatives, advisors, accountants and attorneys to provide,
Parent and its Representatives, advisors, accountants and attorneys, with all true, correct and complete information regarding
Company that is required by law to be included in the Proxy Statement or reasonably requested from Company to be included in the
Proxy Statement. The information provided by the Company to be included in the Proxy Statement shall not contain any untrue statement
of a material fact or omit to state any material fact required to be stated therein or necessary in order to make the statements
made therein, in light of the circumstances under which they were made, not misleading. Without limiting the foregoing, Company
will use commercially reasonable efforts to cause to be delivered to Parent a letter of Company&rsquo;s independent accounting
firm, dated no more than two (2) Business Days after the date of this Agreement.&nbsp;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 5.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Company
Stockholder Written Consent</U></B>.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>As
promptly as practicable, and in any event within five business days, following the earlier to occur of (i) confirmation by the
SEC that it has no further comments on the Proxy Statement or (ii) expiration of the 10-day waiting period contemplated by Rule
14a-6(a) promulgated under the Exchange Act (the &ldquo;<B><I>Company Vote Deadline</I></B>&rdquo;), the Company shall obtain the
approval by written consent from Company stockholders sufficient for the Company Stockholder Approval in lieu of a meeting pursuant
to Section 228 of the DGCL (&ldquo;<B><I>Company Stockholder Written Consent</I></B>&rdquo;) for purposes of (i) adopting this
Agreement and approving the Merger, and all other Transactions (ii) acknowledging that the approval given thereby is irrevocable
and that such Company Stockholder is aware of its rights to demand appraisal for its shares pursuant to Section 262 of Delaware
Law, a copy of which was attached thereto, and that such Company Stockholder has received and read a copy of Section 262 of Delaware
Law and (iii) acknowledging that by its approval of the Merger it is not entitled to appraisal rights with respect to its shares
in connection with the Merger and thereby waives any rights to receive payment of the fair value of its Company Capital Stock under
Delaware Law (collectively, the &ldquo;<B><I>Company Stockholder Matters</I></B>&rdquo;). Under no circumstances shall the Company
assert that any other approval or consent is necessary by its stockholders to approve this Agreement and the Transactions.&nbsp;&nbsp;Without
the prior written approval of Parent (not to be unreasonably withheld, conditioned or delayed), the Company Stockholder Written
Consent shall not include any other approval or consent other than with respect to the Company Stockholder Matters and other any
ancillary or related approvals customary or required in connection therewith.</P>

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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>In
connection with the solicitation of the Company Stockholder Written Consent, Company shall furnish to Parent, as promptly as possible,
and in any event by the Company Vote Deadline, a copy of such executed Company Stockholder Written Consent.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Company
agrees that, subject to Section 5.02(d): (i) Company&rsquo;s board of directors shall recommend that the holders of Company Capital
Stock vote (or take action by written consent) to approve the Company Stockholder Approval Matters and shall use commercially reasonable
efforts to solicit such approval within the timeframe set forth in Section 5.02(a) above (the recommendation of Company&rsquo;s
board of directors that Company&rsquo;s stockholders vote to approve the Company Stockholder Approval Matters being referred to
as the &ldquo;<B><I>Company Board Recommendation</I></B>&rdquo;); and (ii) the Company Board Recommendation shall not be withdrawn
or modified in a manner adverse to Parent, and no resolution by the board of directors of Company or any committee thereof to withdraw
or modify the Company Board Recommendation in a manner adverse to Parent shall be adopted or proposed.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Notwithstanding
anything to the contrary contained in Section 5.02(c), at any time prior to the approval of the Company Stockholder Approval Matters
by the Company Stockholder Approval, the Company Board Recommendation may be withdrawn or modified (a &ldquo;<B><I>Company Change
in Recommendation</I></B>&rdquo;) if the board of directors of Company concludes in good faith, after having consulted with Company&rsquo;s
outside legal counsel and financial advisors, that as a result of Company&rsquo;s receipt of an Acquisition Proposal that did not
result from a violation of Section 5.12 that constitutes a Company Superior Offer, and the withdrawal or modification of the Company
Board Recommendation is required in order for the board of directors of Company to comply with its fiduciary obligations to Company&rsquo;s
stockholders under applicable Legal Requirements; <I>provided</I>, <I>however</I>, that prior to taking any action permitted under
this Section 5.02(d), Parent shall provide Company with four (4) Business Days&rsquo; prior written notice advising Parent that
it intends to effect such withdrawal or modification to the Company Board Recommendation and specifying, in reasonable detail,
the reasons therefor (including, in the case of an Acquisition Proposal, the information required by Section 5.12(b) and during
such four (4) Business Day period, (i) Company shall negotiate, and cause its Representatives to negotiate, with Parent in good
faith (to the extent Parent wishes to negotiate) to enable Parent to determine whether to propose revisions to the terms of this
Agreement such that it would obviate the need for Company&rsquo;s board of directors to effect such withdrawal or modification,
and (ii) Company shall consider in good faith any proposal by Parent to amend the terms and conditions of this Agreement in a manner
that would obviate the need to effect such withdrawal or change of the Company Board Recommendation.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Notwithstanding
the occurrence of any Company Change in Recommendation, Company shall nonetheless solicit the Company Stockholder Written Consent.</P>

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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Nothing
contained in this Agreement shall prohibit Company or its board of directors from (i) taking and disclosing to the stockholders
of Company a position as contemplated by Rule 14e-2(a) under the Exchange Act or complying with the provisions of Rule 14d-9 under
the Exchange Act (other than Rule 14d-9(f) under the Exchange Act) or (ii) making a &ldquo;stop, look and listen&rdquo; communication
to the stockholders of Company pursuant to Rule 14d-9(f) under the Exchange Act, in each case provided Company has otherwise complied
with the terms of this Section 5.02, <I>provided</I>, <I>however</I>, that any disclosure made by Company or its board of directors
pursuant to Rules 14d-9 or 14e-2(a) will be limited to a statement that Company is unable to take a position with respect to the
bidder&rsquo;s tender offer unless the board of directors of Comapny determines in good faith, after consultation with its outside
legal counsel, that such statement would result in a breach of its fiduciary duties under applicable Legal Requirements; <I>provided</I>,
<I>further</I>, that (A) in the case of each of the foregoing clauses (i) and (ii), any such disclosure or public statement shall
be deemed to be a Company Change in Recommendation subject to the terms and conditions of this Agreement unless Company&rsquo;s
board of directors reaffirms the Company Board Recommendation in such disclosure or public statement; and (B) Company shall not
affect a Company Change in Recommendation unless specifically permitted pursuant to the terms of Section 5.02(d).</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Promptly
following receipt of the Company Stockholder Approval, the Company shall prepare and mail a notice (the &ldquo;<B><I>Stockholder
Notice</I></B>&rdquo;) to every stockholder of the Company that did not execute the Company Stockholder Written Consent. The Stockholder
Notice shall (i)&nbsp;be a statement to the effect that the Company Board determined that the Merger is advisable in accordance
with Section&nbsp;251(b) of Delaware Law and in the best interests of the stockholders of the Company and approved and adopted
this Agreement, the Merger and the other Transactions, (ii)&nbsp;provide the stockholders of the Company to whom it is sent with
notice of the actions taken in the Company Stockholder Written Consent, including the adoption and approval of this Agreement,
the Merger and the other Transactions in accordance with Section&nbsp;228(e) of Delaware Law and the certificate of incorporation
and bylaws of the Company and (iii)&nbsp;include a description of the appraisal rights of the Company&rsquo;s stockholders available
under Delaware Law, along with such other information as is required thereunder and pursuant to applicable Law and a copy of Section
262 of Delaware Law. All materials (including any amendments thereto) submitted to the stockholders of the Company in accordance
with this Section&nbsp;5.02(b) shall be subject to Parent&rsquo;s advance review and reasonable approval.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 5.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Parent
Stockholders&rsquo; Meeting</U></B>.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Parent
shall (i)&nbsp;&nbsp;take all action necessary under applicable Legal Requirements to call, give notice of and hold a meeting of
the holders of Parent Common Stock (such meeting, the &ldquo;<B><I>Parent Stockholders&rsquo; Meeting</I></B>&rdquo;) to vote on
the Merger, the issuance of&nbsp;&nbsp;Parent Common Stock in the Merger, the Parent Charter Amendment, including for purposes
of effectuating Reverse Split, and, to the extent required by the rules and regulations of Nasdaq(collectively, the &ldquo;<B><I>Parent
Stockholder Approval Matters</I></B>&rdquo;) and (ii) mail to Parent Stockholders as of the record date established for the Parent
Stockholders&rsquo; Meeting, the Proxy Statement.&nbsp;&nbsp;The Parent Stockholders&rsquo; Meeting shall be held as promptly as
practicable, and in any event within 50 days, following the earlier to occur of (A) confirmation by the SEC that it has no further
comments or (B) expiration of the 10-day waiting period contemplated by Rule 14a-6(a) promulgated under the Exchange Act (as extended
pursuant to any adjournment or postponement permitted below, the &ldquo;<B><I>Parent Vote Deadline</I></B>&rdquo;). Parent shall
take reasonable measures to ensure that all proxies solicited in connection with the Parent Stockholders&rsquo; Meeting are solicited
in compliance with all applicable Legal Requirements. Notwithstanding anything to the contrary contained herein, if on a date preceding
the date on which or the date on which the Parent Stockholders&rsquo; Meeting is scheduled, Parent reasonably believes that (A)
it will not receive proxies sufficient to obtain the Parent Stockholder Approval, whether or not a quorum would be present or (B)&nbsp;it
will not have sufficient shares of Parent Common Stock represented (either in person or by proxy) to constitute a quorum necessary
to conduct the business of the Parent Stockholders&rsquo; Meeting, Parent may, in its sole discretion, postpone or adjourn, or
make one or more successive postponements or adjournments of, the Parent Stockholders&rsquo; Meeting as long as the date of the
Parent Stockholders&rsquo; Meeting is not postponed or adjourned more than an aggregate of 60 calendar days in connection with
any postponements or adjournments in reliance on the preceding sentence.&nbsp;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Parent
agrees that, subject to Section 5.03(c): (i) Parent&rsquo;s board of directors shall recommend that the holders of Parent Common
Stock vote to approve the Parent Stockholder Approval Matters and shall use commercially reasonable efforts to solicit such approval
within the timeframe set forth in Section 5.03(a) above; (ii) the Proxy Statement shall include a statement to the effect that
the board of directors of Parent recommends that Parent&rsquo;s stockholders vote to approve the Parent Stockholder Approval Matters
(the recommendation of Parent&rsquo;s board of directors that Parent&rsquo;s stockholders vote to approve the Parent Stockholder
Approval Matters being referred to as the &ldquo;<B><I>Parent Board Recommendation</I></B>&rdquo;); (iii) the Parent Board Recommendation
shall not be withdrawn or modified in a manner adverse to Company, and no resolution by the board of directors of Parent or any
committee thereof to withdraw or modify the Parent Board Recommendation in a manner adverse to Company shall be adopted or proposed;
and (iv) Parent shall use its reasonable best efforts to obtain from its stockholders the Parent Stockholder Approval, including
by soliciting proxies in favor thereof.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Notwithstanding
anything to the contrary contained in Section 5.03(b), at any time prior to the approval of the Parent Stockholder Approval Matters
by the Parent Stockholder Approval, the Parent Board Recommendation may be withdrawn or modified (a &ldquo;<B><I>Parent Change
in Recommendation</I></B>&rdquo;) if the board of directors of Parent concludes in good faith, after having consulted with Parent&rsquo;s
outside legal counsel and financial advisors, that as a result of Parent&rsquo;s receipt of an Acquisition Proposal that did not
result from a violation of Section 5.13 that constitutes a Superior Offer, and the withdrawal or modification of the Parent Board
Recommendation is required in order for the board of directors of Parent to comply with its fiduciary obligations to Parent&rsquo;s
stockholders under applicable Legal Requirements; <I>provided</I>, <I>however</I>, that prior to Parent taking any action permitted
under this Section 5.03(c), Parent shall provide Company with four (4) Business Days&rsquo; prior written notice advising the Company
that it intends to effect such withdrawal or modification to the Parent Board Recommendation and specifying, in reasonable detail,
the reasons therefor (including, in the case of an Acquisition Proposal, the information required by Section 5.13(b) and during
such four (4) Business Day period, (i) Parent shall negotiate, and cause its Representatives to negotiate, with Company in good
faith (to the extent Company wishes to negotiate) to enable Company to determine whether to propose revisions to the terms of this
Agreement such that it would obviate the need for Parent&rsquo;s board of directors to effect such withdrawal or modification,
and (ii) Parent shall consider in good faith any proposal by Company to amend the terms and conditions of this Agreement in a manner
that would obviate the need to effect such withdrawal or change of the Parent Board Recommendation.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Notwithstanding
the occurrence of any Parent Change in Recommendation, Parent shall nonetheless submit this Agreement to the Parent Stockholders
for adoption at the Parent Stockholders Meeting unless this Agreement is terminated in accordance with Article VII prior to the
Parent Stockholders Meeting.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Nothing
contained in this Agreement shall prohibit Parent or its board of directors from (i) taking and disclosing to the stockholders
of Parent a position as contemplated by Rule 14e-2(a) under the Exchange Act or complying with the provisions of Rule 14d-9 under
the Exchange Act (other than Rule 14d-9(f) under the Exchange Act) or (ii) making a &ldquo;stop, look and listen&rdquo; communication
to the stockholders of Parent pursuant to Rule 14d-9(f) under the Exchange Act, in each case provided Parent has otherwise complied
with the terms of this Section 5.03, <I>provided</I>, <I>however</I>, that any disclosure made by Parent or its board of directors
pursuant to Rules 14d-9 or 14e-2(a) will be limited to a statement that Parent is unable to take a position with respect to the
bidder&rsquo;s tender offer unless the board of directors of Parent determines in good faith, after consultation with its outside
legal counsel, that such statement would result in a breach of its fiduciary duties under applicable Legal Requirements; <I>provided</I>,
<I>further</I>, that (A) in the case of each of the foregoing clauses (i) and (ii), any such disclosure or public statement shall
be deemed to be a Parent Change in Recommendation subject to the terms and conditions of this Agreement unless Parent&rsquo;s board
of directors reaffirms the Parent Board Recommendation in such disclosure or public statement; and (B) Parent shall not affect
a Parent Change in Recommendation unless specifically permitted pursuant to the terms of Section 5.03(c).</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 5.04&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Access
to Information; Confidentiality</U></B>.&nbsp;&nbsp;During the Pre-Closing Period, and upon reasonable notice and subject to restrictions
contained in confidentiality agreements to which such party is subject, Company and Parent will each afford to the officers, employees,
accountants, counsel and other Representatives of the other party, reasonable access, during the Pre-Closing Period, to all its
properties, books, contracts, commitments and records (including, without limitation, Tax records) and, during such period, Company
and Parent each will furnish promptly to the other all information concerning its business, properties and personnel as such other
party may reasonably request, and each will make available to the other the appropriate individuals (including attorneys, accountants
and other professionals) for discussion of the other&rsquo;s business, properties and personnel as either party may reasonably
request; <I>provided</I>, that each of Company and Parent reserves the right to withhold any information if access to such information
would be reasonably likely to result in any such party forfeiting attorney-client privilege between it and its counsel with respect
to such information, in which event such party shall cause such information to be delivered in a form or summary, including any
redactions that may be necessary, so as to provide as much requested information as reasonably practicable while retaining such
privilege.&nbsp;&nbsp;Without limiting the generality of the foregoing, during the Pre-Closing Period, the Company and Parent will
promptly provide the other party with copies of:&nbsp;&nbsp;(a) all material operating and financial reports prepared by Company
or Parent (or their respective Representatives), as applicable, for such party&rsquo;s senior management, including copies of any
sales forecasts, marketing plans, development plans, discount reports, write-off reports, hiring reports and capital expenditure
reports; (b) any written materials or communications sent by or on behalf of such party to its stockholders; (c) any material notice,
document or other communication sent by or on behalf of any of such party to any third party to any Company Contract or Parent
Contract, as applicable, or sent to Company or Parent by any third party to any Company Contract or Parent Contract, as applicable,
(other than any communication that relates solely to routine commercial transactions and that is of the type sent in the ordinary
course of business and consistent with past practices); (d) any notice, report or other document filed with or sent to any Governmental
Body in connection with the Merger or any of the other Transactions; and (e) any material notice, report or other document received
from any Governmental Body.&nbsp;&nbsp;Each party will keep such information confidential in accordance with the terms of the currently
effective confidentiality agreement (the &ldquo;<B><I>Confidentiality Agreement</I></B>&rdquo;) between Parent and Company; <I>provided</I>,
that the Company may make disclosure of such information to its stockholders or other third parties as may be reasonably necessary
to enable the Company to comply with its obligations under this Agreement, including without limitation under Section 5.02 hereof.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>


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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 5.05&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Regulatory
Approvals and Related Matters</U></B>. Each Party shall use commercially reasonable efforts to file or otherwise submit, as soon
as practicable after the date of this Agreement, all applications, notices, reports and other documents reasonably required to
be filed by such Party with or otherwise submitted by such Party to any Governmental Body with respect to the Merger, and to submit
promptly any additional information requested by any such Governmental Body. Without limiting the generality of the foregoing,
the Parties shall, promptly after the date of this Agreement, prepare and file, if any, (a)&nbsp;the notification and report forms
required to be filed under the HSR Act and (b)&nbsp;any notification or other document required to be filed in connection with
the Merger under any applicable foreign Legal Requirement relating to antitrust or competition matters. Parent and Company shall
respond as promptly as is practicable to respond in compliance with: (i)&nbsp;any inquiries or requests received from the Federal
Trade Commission or the Department of Justice for additional information or documentation; and (ii)&nbsp;any inquiries or requests
received from any state attorney general, foreign antitrust or competition authority or other Governmental Body in connection with
antitrust or competition matters.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 5.06&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Director
Indemnification and Insurance</U></B>.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>From
and after the Effective Time, Parent and the Surviving Corporation will fulfill and honor in all respects the obligations of Company
and Parent which exist prior to the date hereof to indemnify Company&rsquo;s and Parent&rsquo;s present and former directors and
officers and their heirs, executors and assigns (each, a &ldquo;<B><I>D&amp;O Indemnified Party</I></B>&rdquo;). The Company directors
and officers who become directors and officers of the Surviving Corporation and Parent will enter into Parent&rsquo;s standard
indemnification agreement, which will be in addition to any other contractual rights to indemnification.&nbsp;&nbsp;The certificate
of incorporation and bylaws of the Surviving Corporation will contain provisions at least as favorable as the provisions relating
to the indemnification and elimination of liability for monetary damages set forth in the certificate of incorporation and bylaws
of Company, and the provisions relating to the indemnification and elimination of liability for monetary damages set forth in the
certificate of incorporation and bylaws of Company and Parent will not be amended, repealed or otherwise modified for a period
of six (6) years from the Effective Time in any manner that would adversely affect the rights thereunder of individuals who, at
the Effective Time, were directors, officers, employees or agents of Company or Parent, unless such modification is required by
Legal Requirements.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Effective
as of the Effective Time, Company may, at Company&rsquo;s sole expense, secure a &ldquo;tail&rdquo; policy on Company&rsquo;s existing
directors and officer&rsquo;s liability insurance policy for a period of six (6) years.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Effective
as of the Effective Time, Parent will secure a directors and officers liability &ldquo;tail&rdquo; policy on Parent&rsquo;s existing
directors and officers for a period of six (6) years.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>This
Section 5.06 will survive any termination of this Agreement and the consummation of the Merger at the Effective Time, is intended
to benefit Company, the Surviving Corporation, Parent and the D&amp;O Indemnified Parties, and will be binding on all successors
and assigns of Parent and the Surviving Corporation.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 5.07&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Notification
of Certain Matters</U></B>.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Company
will give prompt notice to Parent, and Parent will give prompt notice to Company, of (i) the occurrence, or non-occurrence, of
any event the occurrence, or non-occurrence, of which would be reasonably likely to cause any representation or warranty contained
in this Agreement to be untrue or inaccurate such that the conditions set forth in Section 6.02(a) or Section 6.03(a), as applicable,
would fail to be satisfied as of the Closing; (ii) any failure of Company or Parent, as the case may be, materially to comply with
or satisfy any covenant, condition or agreement to be complied with or satisfied by it hereunder such that the conditions set forth
in Section 6.02(b) or Section 6.03(b), as applicable, would fail to be satisfied as of the Closing and (iii) whether any holder
of shares of Parent Capital Stock or any security or other right convertible into or exercisable for shares of Parent Capital Stock
has made any demand or request for the repurchase of any such share, security or right; <I>provided</I>, <I>however</I>, that the
delivery of any notice pursuant to this Section 5.07 will not limit or otherwise affect the remedies available hereunder to the
party receiving such notice.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Each
of Company and Parent will give prompt notice to the other of:&nbsp;&nbsp;(i) any notice or other communication from any person
alleging that the consent of such person is or may be required in connection with the Merger or other Transactions; (ii) any notice
or other communication from any Governmental Body in connection with the Merger or other Transactions; (iii) any litigation relating
to or involving or otherwise affecting Company or Parent that relates to the Merger or other Transactions; (iv) the occurrence
of a default or event that, with notice or lapse of time or both, will become a default under a Company Contract; and (v) any change
that would be considered reasonably likely to result in a Company Material Adverse Effect or Parent Material Adverse Effect.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 5.08&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Stockholder
Litigation</U></B>.&nbsp;&nbsp;From and after the date of this Agreement until the earlier of the Effective Time or the date, if
any, on which this Agreement is terminated pursuant to Article VII, Parent shall promptly notify Company of any litigation brought,
or threatened, against Parent and/or members of the board of directors of Parent or any of its officers relating to the Transactions
or otherwise and shall keep Company informed on a reasonably current basis with respect to the status thereof.&nbsp;&nbsp;From
and after the date of this Agreement until the earlier of the Effective Time or the date, if any, on which this Agreement is terminated
pursuant to Article VII, Company shall promptly notify Parent of any litigation brought, or threatened, against Company and/or
members of the board of directors of Company or any of its officers relating to the Transactions or otherwise and shall keep Parent
informed on a reasonably current basis with respect to the status thereof. Each Party shall give the other Party the right to review
and comment on all material filings or responses to be made by such Party in connection with the foregoing and, no settlement shall
be agreed to in connection with the foregoing without the other Party's prior written consent (such consent not to be unreasonably
withheld, conditioned or delayed).</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 5.09&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Public
Announcements</U></B>.&nbsp;&nbsp;Parent and Company will consult with each other before issuing any press release or otherwise
making any public statements with respect to the Merger or this Agreement and will not issue any such press release or make any
disclosure (to any customers or employees of such Party, to the public or otherwise) regarding this Agreement and/or the Transactions
without the prior consent of the other party, which will not be unreasonably withheld or delayed; <I>provided</I>, <I>however</I>,
that, on the advice of legal counsel, Parent may comply with any SEC requirements under the Securities Act or Exchange Act which
requires any disclosure, without the consent or review of Company.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 5.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Conveyance
Taxes</U></B>.&nbsp;&nbsp;Parent and Company will cooperate in the preparation, execution and filing of all returns, questionnaires,
applications or other documents regarding any real property transfer or gains, sales, use, transfer, value added, stock transfer
and stamp taxes, any transfer, recording, registration and other fees, and any similar taxes which become payable in connection
with the Transactions that are required or permitted to be filed on or before the Effective Time.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>


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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 5.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Board
of Directors and Officers of Parent</U></B>.&nbsp;&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Parent will take all actions necessary to
cause the board of directors of Parent, immediately after the Effective Time, to consist of the members as determined by Company,
it being understood that Parent shall have the right to designate one member. Prior to the mailing of the Proxy Statement, Parent
shall provide executed resignation letters (effective as of the Effective Time) for all members of the board of directors who will
no longer be members of the board of directors of Parent effective immediately after the Effective Time; <I>provided</I>, <I>however</I>,
the parties acknowledge that so long as Parent remains a public reporting company, the board of directors of Parent will continue
to satisfy applicable securities laws, including, without limitation, maintaining an independent audit committee, and the nominations
by Company and Parent hereunder will allow Parent to comply with such applicable Legal Requirements.&nbsp;&nbsp;Each new member
of the board of directors of Parent that was not a member of the board of directors of Parent immediately before the Effective
Time shall enter into an indemnification agreement with Parent, on a form to be determined by Company (and absent such agreement,
on Parent&rsquo;s form indemnification agreement), within fifteen (15) days of their appointment.&nbsp;&nbsp;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 5.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Non-Solicitation
by Company</U></B>.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Beginning
on the date hereof and continuing until the earlier of the Effective Time or the date, if any, on which this Agreement is terminated
pursuant to Article VII, the Company will not and will not authorize or permit any of its Subsidiaries or any Representative of
Company or its Subsidiaries, directly or indirectly, other than in connection with a Permitted Financing, to, (i) solicit, initiate,
knowingly encourage, induce or facilitate the making, submission or announcement of any Acquisition Proposal or take any action
that would reasonably be expected to lead to an Acquisition Proposal, (ii) furnish any nonpublic information regarding Company
or its Subsidiaries to any Person in connection with or in response to an Acquisition Proposal or an inquiry or indication of interest
that could lead to an Acquisition Proposal, (iii) engage in discussions or negotiations with any Person with respect to any Acquisition
Proposal, (iv) approve, endorse or recommend any Acquisition Proposal or (v) enter into any letter of intent or similar document
or any agreement contemplating or otherwise relating to any Acquisition Transaction (other than an Acceptable Company Confidentiality
Agreement); <I>provided</I>, <I>however</I>, that prior to the adoption of this Agreement by the Company Stockholder Approval,
this Section 5.12(a) will not prohibit Company from furnishing nonpublic information regarding Company and its Subsidiaries to,
entering into discussions with, any Person in response to any bona fide written Acquisition Proposal that, after consultation with
a financial advisor and outside legal counsel, Company&rsquo;s board of directors determines in good faith is, or would reasonably
be expected to result in, a Company Superior Offer (and is not withdrawn) if (1) such Acquisition Proposal did not result from
a breach of this Section 5.12(a); (2) the board of directors of Company concludes in good faith, after having taken into account
the advice of its outside legal counsel, that, in light of such Acquisition Proposal and the terms of this Agreement, failure to
take such action would result in a breach of its fiduciary obligations to Company&rsquo;s stockholders under applicable Legal Requirements;
(3) at least two (2) Business Days prior to furnishing any such information to, or entering into discussions with, such Person,
Parent gives Company written notice of the identity of such Person, the terms and conditions of any proposals or offers (including,
if applicable, copies of any written requests, proposals or offers, including proposed agreements) made thereby and of Company&rsquo;s
intention to furnish information to, or enter into discussions with, such Person, and Company receives from such Person an executed
confidentiality agreement on terms no less favorable to Company than the confidentiality agreement between Parent and Company and
containing customary limitations on the use and disclosure of all nonpublic written and oral information furnished to such Person
by or on behalf of Company as well as customary &ldquo;standstill&rdquo; provisions (an, &ldquo;<B><I>Acceptable Company Confidentiality
Agreement</I></B>&rdquo;) and (4) substantially contemporaneous with furnishing any such information to such Person, Company furnishes
such nonpublic information to Parent (to the extent such nonpublic information has not been previously furnished by Company to
Parent).&nbsp;&nbsp;Without limiting the generality of the foregoing, Company acknowledges and agrees that in the event any Representative
of Company (or its Subsidiaries), whether or not such Representative is purporting to act on behalf of Company (or its Subsidiaries),
takes any action that, if taken by Company (or its Subsidiaries), would constitute a breach of this Section 5.12, the taking of
such action by such Representative will be deemed to constitute a breach of this Section 5.12 by Parent for purposes of this Agreement..</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Company
will promptly (and in no event later than 48 hours after receipt of any Acquisition Proposal, any inquiry or indication of interest
that could lead to an Acquisition Proposal or any request for nonpublic information) advise Parent orally and in writing of any
Acquisition Proposal, any inquiry or indication of interest that could lead to an Acquisition Proposal or any request for nonpublic
information relating to Company or its Subsidiaries (including the identity of the Person making or submitting such Acquisition
Proposal, inquiry, indication of interest or request, the material terms thereof and copies of any written material submitted therewith)
that is made or submitted by any Person during the Pre-Closing Period.&nbsp;&nbsp;Company will keep Parent informed on a prompt
basis in all material respects with respect to the status of any such Acquisition Proposal, inquiry, indication of interest or
request and any modification or proposed modification thereto and shall deliver copies of any written material submitted therewith.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Company
will immediately cease and cause to be terminated any existing discussions with any Person that relate to any Acquisition Proposal
and will promptly request from each person that has executed a confidentiality agreement in connection with its consideration of
making an Acquisition Proposal prior to the date hereof to return or destroy (as provided in the terms of such confidentiality
agreement) all confidential information concerning the Company or any of its Subsidiaries and promptly terminate all physical and
electronic data access previously granted to such person.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 5.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Non-Solicitation
by Parent</U></B>.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Beginning
on the date hereof and continuing until the earlier of the Effective Time or the date, if any, on which this Agreement is terminated
pursuant to Article VII, Parent will not and will not authorize or permit any of its Subsidiaries or any Representative of Parent
or its Subsidiaries, directly or indirectly, to, (i) solicit, initiate, knowingly encourage, induce or facilitate the making, submission
or announcement of any Acquisition Proposal or take any action that would reasonably be expected to lead to an Acquisition Proposal;
(ii) furnish any nonpublic information regarding Parent or its Subsidiaries to any Person in connection with or in response to
an Acquisition Proposal or an inquiry or indication of interest that could lead to an Acquisition Proposal; (iii) engage in discussions
or negotiations with any Person with respect to any Acquisition Proposal; (iv) approve, endorse or recommend any Acquisition Proposal
or (v) enter into any letter of intent or similar document or any agreement contemplating or otherwise relating to any Acquisition
Transaction (other than an Acceptable Parent Confidentiality Agreement); <I>provided</I>, <I>however</I>, that prior to the adoption
of this Agreement by the Parent Stockholder Approval, this Section 5.13(a) will not prohibit Parent from furnishing nonpublic information
regarding Parent and its Subsidiaries to, entering into discussions with, any Person in response to any bona fide written Acquisition
Proposal that, after consultation with a financial advisor and outside legal counsel, Parent&rsquo;s board of directors determines
in good faith is, or would reasonably be expected to result in, a Parent Superior Offer (and is not withdrawn) if (1) such Acquisition
Proposal did not result from a breach of this Section 5.13(a); (2) the board of directors of Parent concludes in good faith, after
having taken into account the advice of its outside legal counsel, that, in light of such Acquisition Proposal and the terms of
this Agreement, failure to take such action would result in a breach of its fiduciary obligations to Parent&rsquo;s stockholders
under applicable Legal Requirements; (3) at least two (2) Business Days prior to furnishing any such information to, or entering
into discussions with, such Person, Parent gives Company written notice of the identity of such Person, the terms and conditions
of any proposals or offers (including, if applicable, copies of any written requests, proposals or offers, including proposed agreements)
made thereby and of Parent&rsquo;s intention to furnish information to, or enter into discussions with, such Person, and Parent
receives from such Person an executed confidentiality agreement on terms no less favorable to Parent than the confidentiality agreement
between Parent and Company and containing customary limitations on the use and disclosure of all nonpublic written and oral information
furnished to such Person by or on behalf of Parent as well as customary &ldquo;standstill&rdquo; provisions (an, &ldquo;<B><I>Acceptable
Parent Confidentiality Agreement</I></B>&rdquo;) and (4) substantially contemporaneous with furnishing any such information to
such Person, Parent furnishes such nonpublic information to Company (to the extent such nonpublic information has not been previously
furnished by Parent to Company).&nbsp;&nbsp;Without limiting the generality of the foregoing, Parent acknowledges and agrees that
in the event any Representative of Parent (or its Subsidiaries), whether or not such Representative is purporting to act on behalf
of Parent (or its Subsidiaries), takes any action that, if taken by Parent (or its Subsidiaries), would constitute a breach of
this Section 5.13, the taking of such action by such Representative will be deemed to constitute a breach of this Section 5.13
by Parent for purposes of this Agreement.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Parent
will promptly (and in no event later than 48 hours after receipt of any Acquisition Proposal, any inquiry or indication of interest
that could lead to an Acquisition Proposal or any request for nonpublic information) advise Company orally and in writing of any
Acquisition Proposal, any inquiry or indication of interest that could lead to an Acquisition Proposal or any request for nonpublic
information relating to Parent or its Subsidiaries (including the identity of the Person making or submitting such Acquisition
Proposal, inquiry, indication of interest or request, the material terms thereof and copies of any written material submitted therewith)
that is made or submitted by any Person during the Pre-Closing Period.&nbsp;&nbsp;Parent will keep Company informed on a prompt
basis in all material respects with respect to the status of any such Acquisition Proposal, inquiry, indication of interest or
request and any modification or proposed modification thereto and shall deliver copies of any written material submitted therewith.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Parent
will immediately cease and cause to be terminated any existing discussions with any Person that relate to any Acquisition Proposal
and will promptly request from each person that has executed a confidentiality agreement in connection with its consideration of
making an Acquisition Proposal prior to the date hereof to return or destroy (as provided in the terms of such confidentiality
agreement) all confidential information concerning Company or any of its Subsidiaries and promptly terminate all physical and electronic
data access previously granted to such person.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 5.14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Section
16 Matters</U></B>.&nbsp;&nbsp;Subject to the following sentence, prior to the Effective Time, Parent and Company will take all
such steps as may be required (to the extent permitted under applicable Legal Requirements and no-action letters issued by the
SEC) to cause any acquisition of Parent Common Stock (including derivative securities with respect to Parent Common Stock) by each
individual who is or will be subject to the reporting requirements of Section 16(a) of the Exchange Act with respect to Parent,
to be exempt under Rule 16b-3 under the Exchange Act.&nbsp;&nbsp;At least thirty (30) days prior to the Closing Date, Company will
furnish the following information to Parent for each individual who, immediately after the Effective Time, will become subject
to the reporting requirements of Section 16(a) of the Exchange Act with respect to Parent:&nbsp;&nbsp;(a) the number of shares
of Company Capital Stock held by such individual and expected to be exchanged for shares of Parent Common Stock pursuant to the
Merger and (b) the number of other derivative securities (if any) with respect to Company Capital Stock held by such individual
and expected to be converted into shares of Parent Common Stock or derivative securities with respect to Parent Common Stock in
connection with the Merger.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 5.15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Parent
Charter Amendment</U></B>.&nbsp;&nbsp;Immediately prior to the Effective Time, Parent will file the Parent Charter Amendment with
the Secretary of State of the State of Delaware to become effective immediately prior to the Effective Time.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 5.16&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Company
Options; Restricted Shares</U></B>.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>At
the Effective Time, each Company Option that is outstanding and unexercised immediately prior to the Effective Time under the Company
Option Plan, whether or not vested, will be converted into and become an option to purchase Parent Common Stock, and Parent shall
assume the Company Option Plan.&nbsp;&nbsp;All rights with respect to Company Common Stock under Company Options assumed by Parent
will thereupon be converted into rights with respect to Parent Common Stock.&nbsp;&nbsp;Accordingly, from and after the Effective
Time:&nbsp;&nbsp;(i) each Company Option assumed by Parent may be exercised solely for shares of Parent Common Stock; (ii) the
number of shares of Parent Common Stock subject to each Company Option assumed by Parent will be determined by multiplying (x)
the number of shares of Company Common Stock that were subject to such Company Option, as in effect immediately prior to the Effective
Time by (y) the Exchange Ratio and rounding the resulting number down to the nearest whole number of shares of Parent Common Stock;
(iii) the per share exercise price for the Parent Common Stock issuable upon exercise of each Company Option assumed by Parent
will be determined by dividing (x) the per share exercise price of Company Common Stock subject to such Company Option, as in effect
immediately prior to the Effective Time, by (y) the Exchange Ratio and rounding the resulting exercise price up to the nearest
whole cent; and (iv) any restriction on the exercise of any Company Option assumed by Parent will continue in full force and effect
and the term, exercisability, vesting schedule, status as an &ldquo;incentive stock option&rdquo; under Section 422 of the Code,
if applicable, and other provisions of such Company Option will otherwise remain unchanged; <I>provided</I>, <I>however</I>, that:&nbsp;&nbsp;(1)
to the extent provided under the terms of a Company Option, such Company Option assumed by Parent in accordance with this Section
5.16(a) will, in accordance with its terms, be subject to further adjustment as appropriate to reflect any stock split, division
or subdivision of shares, stock dividend, reverse stock split, consolidation of shares, reclassification, recapitalization or other
similar transaction with respect to Parent Common Stock subsequent to the Effective Time; and (2) Parent&rsquo; board of directors
or a committee thereof will succeed to the authority and responsibility of Company&rsquo;s board of directors or any committee
thereof with respect to each Company Option assumed by Parent.&nbsp;&nbsp;Notwithstanding anything to the contrary in this Section
5.16(a), the conversion of each Company Option (regardless of whether such option qualifies as an &ldquo;incentive stock option&rdquo;
within the meaning of Section 422 of the Code) into an option to purchase shares of Parent Common Stock will be made in a manner
consistent with Treasury Regulation Section 1.424-1, such that the conversion of a Company Option will not constitute a &ldquo;modification&rdquo;
of such Company Option for purposes of Section 409A or Section 424 of the Code.&nbsp;&nbsp;It is the intention of the parties that
each Company Option so assumed by Parent shall qualify following the Effective Time as an incentive stock option as defined in
Section 422 of the Code to the extent permitted under Section 422 of the Code and to the extent such Company Option qualified as
an incentive stock option prior to the Effective Time.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>At
the Effective Time, each unvested Company Restricted Share that is outstanding immediately prior to the Effective Time under the
Company Option Plan will be exchanged for restricted shares of Parent Common Stock that shall have, and be subject to, the same
terms and conditions (including vesting terms) set forth in the applicable Company Option Plan and the applicable Company Restricted
Share agreements relating thereto, as in effect immediately prior to the Effective Time, in an amount equal to the number of Company
Restricted Shares outstanding with respect to such Company Restricted Share award immediately prior to the Effective Time multiplied
by the Exchange Ratio, with the result rounded down to the nearest whole number of shares of Parent Common Stock.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 5.17&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Company
Warrants</U></B>. At the Effective Time, each Company Warrant that is outstanding and unexercised immediately prior to the Effective
Time, will be converted into and become a warrant to purchase Parent Common Stock.&nbsp;&nbsp;All rights with respect to Company
Common Stock under Company Warrants assumed by Parent will thereupon be converted into rights with respect to Parent Common Stock.&nbsp;&nbsp;Accordingly,
from and after the Effective Time:&nbsp;&nbsp;(i) each Company Warrant assumed by Parent may be exercised solely for shares of
Parent Common Stock; (ii) the number of shares of Parent Common Stock subject to each Company Warrant assumed by Parent will be
determined by multiplying (x) the number of shares of Company Common Stock that were subject to such Company Warrant, as in effect
immediately prior to the Effective Time by (y) the Exchange Ratio and rounding the resulting number down to the nearest whole number
of shares of Parent Common Stock; (iii) the per share exercise price for the Parent Common Stock issuable upon exercise of each
Company Warrant assumed by Parent will be determined by dividing (x) the per share exercise price of Company Common Stock subject
to such Company Warrant, as in effect immediately prior to the Effective Time, by (y) the Exchange Ratio and rounding the resulting
exercise price up to the nearest whole cent; and (iv) any restriction on the exercise of any Company Warrant assumed by Parent
will continue in full force and effect and the term, exercisability and other provisions of such Company Warrant will otherwise
remain unchanged; <I>provided</I>, <I>however</I>, that to the extent provided under the terms of a Company Warrant, such Company
Warrant assumed by Parent in accordance with this Section 5.17(a) will, in accordance with its terms, be subject to further adjustment
as appropriate to reflect any stock split, division or subdivision of shares, stock dividend, reverse stock split, consolidation
of shares, reclassification, recapitalization or other similar transaction with respect to Parent Common Stock subsequent to the
Effective Time.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 5.18&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Parent
Warrants</U></B>.&nbsp;&nbsp;If required by any applicable Parent Warrant, promptly after the date of this Agreement, and in any
event within twenty (20) Business Days before the Effective Time, Parent shall deliver notice to the holders of such Parent Warrants
with respect to the Transactions and the rights of the holders thereof in connection therewith, subject to the review and approval
of Company (not to be unreasonably withheld).</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 5.19&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Allocation
Certificate; Indebtedness; Invoices; Parent Certificate</U></B>.&nbsp;&nbsp;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Company
will prepare and deliver to Parent at least two (2) Business Days prior to the Closing Date a certificate signed by the Chief Financial
Officer and Secretary of Company in a form reasonably acceptable to Parent which sets forth (i) a true and complete list of the
Company Stockholders immediately prior to the Effective Time and the number and type of shares of Company Capital Stock owned by
each such Company Stockholder and (ii) the allocation of the Merger Consideration among the Company Stockholders pursuant to the
Merger (the &ldquo;<B><I>Allocation Certificate</I></B>&rdquo;).</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>At
least five (5) <FONT STYLE="color: windowtext">Business Days </FONT>prior to the <FONT STYLE="color: windowtext">Closing Date</FONT>,
Parent shall, to the extent applicable, deliver to <FONT STYLE="color: windowtext">Company </FONT>an accurate and complete copy
of: <FONT STYLE="color: windowtext">o</FONT>ne or more payoff letters, each dated no more than five <FONT STYLE="color: windowtext">Business
Days </FONT>prior to the <FONT STYLE="color: windowtext">Closing Date</FONT>, with respect to all outstanding <FONT STYLE="color: windowtext">Indebtedness
</FONT>of Parent, to: (A) satisfy such <FONT STYLE="color: windowtext">Indebtedness </FONT>as of the <FONT STYLE="color: windowtext">Closing;
</FONT>and (B) terminate and release any <FONT STYLE="color: windowtext">Encumbrances </FONT>related thereto; and (ii) Parent Invoices
with respect to all Transaction Costs estimated to be due and payable by Parent as of the Closing Date<FONT STYLE="color: windowtext">.
</FONT></P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Parent
will prepare and deliver to Company at least five (5) Business Days prior to the Closing Date a certificate signed by the Chief
Financial Officer and Secretary of Parent in a form reasonably acceptable to Company which sets forth the calculation of (i) Parent
Closing Cash and Working Capital, together, in each case, with reasonable supporting detail and (ii) the Cash Dividend (the &ldquo;<B><I>Parent
Certificate</I></B>&rdquo;), which Parent Certificate shall be subject to the reasonable review and approval of Company. Following
delivery of the Parent Certificate until the Closing, Company and its accountants shall, upon reasonable notice and during normal
business hours, be permitted to discuss with Parent and its accountants the calculation of Parent Closing Cash and Working Capital
and the other components of the Cash Dividend and shall be provided complete and accurate copies of, and have reasonable access,
upon reasonable notice at reasonable times during normal business hours, to the work papers and supporting records of Parent and
its accountants so as to allow Company and its accountants to verify the accuracy of the Parent Closing Cash and Working Capital
and the other components of the Cash Dividend.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 5.20&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Employees;
Employee Benefit Matters</U></B>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">Effective
as of immediately prior to the Closing, at Company&rsquo;s request, Parent shall terminate, in compliance with applicable Legal
Requirements, the employment of any employee of Parent as requested by Company. Parent shall be responsible for the payment of
all final payments, wages, salary and benefits and other remuneration, including, any severance, bonus, accrued vacation, payment
in lieu of notice period and vacation pay or other payments or amounts due to such employees, whether under Legal Requirements
or Contract with respect to their services as employees of Parent and the termination of their employment, and all such payments
shall be made to each such employee prior to the Closing and be considered Transaction Costs.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
purposes of vesting, eligibility to participate, and level of benefits under the benefit plans, programs, contracts or arrangements
of Parent or any of its Subsidiaries (including, following the Closing, the Company and its Subsidiaries) providing benefits to
any Continuing Employee after the Closing (the &ldquo;<B><I>Post-Closing Plans</I></B>&rdquo;), each employee who continues to
be employed by Parent, the Company or any of their respective Subsidiaries immediately following the Closing (&ldquo;<B><I>Continuing
Employees</I></B>&rdquo;) shall be credited with his or her years of service with Parent, Company or any of their respective Subsidiaries
and their respective predecessors; <I>provided</I>, <I>however</I>, that the foregoing shall not apply to the extent that its application
would result in a duplication of benefits. In addition, and without limiting the generality of the foregoing, for purposes of each
Post-Closing Plan providing medical, dental, pharmaceutical and/or vision benefits to a Continuing Employee, Parent shall cause
all pre-existing condition exclusions and actively-at-work requirements of such Post-Closing Plan to be waived for such Continuing
Employee and his or her covered dependents to the extent and unless such conditions would have been waived or satisfied under the
employee benefit plan whose coverage is being replaced under the Post-Closing Plan, and Parent shall use commercially reasonable
efforts to cause any eligible expenses incurred by a Continuing Employee and his or her covered dependents during the portion of
such plan year in which coverage is replaced with coverage under a Post-Closing Plan to be taken into account under such Post-Closing
Plan with respect to the plan year in which participation in such Post-Closing Plan begins for purposes of satisfying all deductible,
coinsurance and maximum out-of-pocket requirements applicable to such Continuing Employee and his or her covered dependents for
such plan year as if such amounts had been paid in accordance with such Post-Closing Plan.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>


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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 5.21&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Company
and Parent Disclosure Schedules</U></B>.&nbsp;&nbsp;Each of Company and Parent may in its discretion, for informational purposes
only, supplement the information set forth on the Company Disclosure Schedule or Parent Disclosure Schedule, as applicable, with
respect to any matter now existing or hereafter arising that, if existing or occurring at or prior to the date of this Agreement,
would have been required to be set forth or described in the Company Disclosure Schedule or Parent Disclosure Schedule, as applicable,
on the date of this Agreement or that is necessary to correct any information in the Company Disclosure Schedule or Parent Disclosure
Schedule, as applicable, which has been rendered inaccurate thereby promptly following discovery thereof.&nbsp;&nbsp;Any such amended
or supplemented disclosure shall not be deemed to modify the representations and warranties of Company, Parent or Merger Sub for
purposes of Section 6.02(a) and 6.03(a) of this Agreement.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 5.22&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Tax
Matters</U></B>. Parent, Merger Sub and Company shall treat, and shall not take any Tax reporting position inconsistent with the
treatment of, the Merger as a reorganization within the meaning of Section 368(a) of the Code for U.S. federal, state and other
relevant Tax purposes, unless otherwise required pursuant to a &ldquo;determination&rdquo; within the meaning of Section 1313(a)
of the Code.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 5.23&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Reverse
Split</U></B>.&nbsp;&nbsp;If applicable, Parent shall submit to the holders of Parent Common Stock at the Parent Stockholders&rsquo;
Meeting a proposal to approve and adopt the Parent Charter Amendment authorizing the board of directors of Parent to effect a reverse
stock split of all outstanding shares of Parent Common Stock at a reverse stock split ratio as mutually agreed to by Parent and
Company (the &ldquo;<B><I>Reverse Split</I></B>&rdquo;) and within the range approved by the holders of Parent Common Stock. If
applicable, Parent shall cause the Reverse Split to be implemented and take effect immediately prior to the Effective Time.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 5.24&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Lock-up
Agreements</U></B>.&nbsp;&nbsp;During the Pre-Closing Period, Company shall deliver a Company Lock-up Agreement to each of the
Company Stockholders and shall use its commercially reasonable efforts to cause its Company Stockholders to enter into such Company
Lock-up Agreement.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 5.25&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Listing</U></B>.&nbsp;&nbsp;Parent
shall use its commercially reasonable efforts, (a)&nbsp;to the extent required by the rules and regulations of Nasdaq, to prepare
and submit to Nasdaq a notification form for the listing of the shares of Parent Common Stock to be issued in connection with the
Transactions, and to cause such shares to be approved for listing (subject to official notice of issuance) and (b)&nbsp;to the
extent required by Nasdaq Marketplace Rule 5110, to file an initial listing application for the Parent Common Stock on Nasdaq (the
 &ldquo;<B><I>Nasdaq Listing Application</I></B>&rdquo;) and to cause such Nasdaq Listing Application to be conditionally approved
prior to the Effective Time. The Parties will use commercially reasonable efforts to coordinate with respect to compliance with
Nasdaq rules and regulations. Parent agrees to pay all Nasdaq fees associated with the Nasdaq Listing Application. The Company
will cooperate with Parent as reasonably requested by Parent with respect to the Nasdaq Listing Application and promptly furnish
to Parent all information concerning the Company and its stockholders that may be required or reasonably requested in connection
with any action contemplated by this Section&nbsp;5.25.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 5.26&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Legends</U></B>.
Parent shall place customary restrictive legends on the book entries and/or certificates evidencing the shares of Parent Common
Stock to be received in the Merger.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 5.27&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Company
Financial Statements</U></B>. Within two (2) Business Days following the date of this Agreement, Company will furnish to Parent
(i)&nbsp;audited financial statements for the fiscal years ended 2016 and 2017, if any, for inclusion in the Proxy Statement (the
 &ldquo;<B><I>Company Audited Financial Statements</I></B>&rdquo;) and (ii)&nbsp;unaudited interim financial statements for each
interim period completed prior to Closing that would be required to be included in the Proxy Statement or any periodic report due
prior to the Closing if the Company were subject to the periodic reporting requirements under the Securities Act or the Exchange
Act (the &ldquo;<B><I>Company Interim Financial Statements</I></B>&rdquo;). Each of the Company Audited Financial Statements and
the Company Interim Financial Statements will be suitable for inclusion in the Proxy Statement and prepared in accordance with
GAAP as applied on a consistent basis during the periods involved (except in each case as described in the notes thereto) and on
that basis will present fairly, in all material respects, the financial position and the results of operations, changes in stockholders&rsquo;
equity, and cash flows of the Company as of the dates of and for the periods referred to in the Company Audited Financial Statements
or the Company Interim Financial Statements, as the case may be.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>


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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 5.28&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Further
Assurances</U></B>. Prior to the Effective Time, the Parties will exercise their reasonable best efforts to cause to be satisfied
those conditions set forth under Article VI. At and after the Effective Time, the officers and directors of the Surviving Corporation
shall be authorized to execute and deliver, in the name and on behalf of the Company or Merger Sub, any deeds, bills of sale, assignments,
or assurances and to take and do, in the name and on behalf of the Company or Merger Sub, any other actions and things to vest,
perfect, or confirm of record or otherwise in the Surviving Corporation any and all right, title, and interest in, to and under
any of the rights, properties, or assets of the Company acquired or to be acquired by the Surviving Corporation as a result of,
or in connection with, the Merger.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 5.29&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt"><B><U>Contract
Manufacturing Business</U></B></FONT>. <FONT STYLE="font-size: 10pt">During the Pre-Closing Period, Parent shall use commercially
reasonable efforts to consummate the Spin-Off, which shall be effective immediately prior to the Closing, in accordance with applicable
Legal Requirements. Parent shall provide the Company a reasonable opportunity to review all documents and agreements related to
the Spin-Off, which documents and agreements shall be reasonably acceptable to Company. Prior to effecting the Spin-Off, Parent
shall (a) seek and obtain written agreements in form and substance reasonably acceptable to Company from all parties to Contracts
that are distributed in connection with the Spin-Off releasing Parent from any and all liabilities and obligations under such Contracts,
(b) obtain an independent third party valuation from a credible firm reasonably acceptable to Company, which valuation shall be
in form and substance reasonably acceptable to Company, of the equity interests in the Spin-Off to be distributed to holders of
Parent Common Stock in connection with the Spin-Off and with a valuation date of the date of the Spin-Off (the &ldquo;<B><I>Spin-Off
Valuation</I></B>&rdquo;), (c) provide evidence reasonably satisfactory to Company that no material Tax will arise to Parent as
a result of the Spin-Off and (d) deliver to Company a schedule, which schedule shall be reasonably acceptable to Company, setting
forth the list of Contracts and other assets and all related liabilities and obligations to be transferred to SpinCo. Not later
than 30 days prior to the proposed date of the Spin-Off, Parent will deliver to Company a draft of the Spin-Off Valuation for Company&rsquo;s
review and comment, and Parent will instruct the independent valuation firm to consider such comments in good faith. Parent will
use best efforts to deliver or cause to be delivered to Company, not later than three Business Days before the date of the Spin-Off,
a final version of the Spin-Off Valuation in respect of Parent&rsquo;s equity interest in Spinco. Parent shall not effect the Spin-Off
without Company&rsquo;s written consent, such consent not to be unreasonably withheld. For the avoidance of doubt, so long as Parent
exercised commercially reasonable efforts to cause the Spin-Off to occur concurrently with the Effective Time, the occurrence of
the Spin-Off is not a condition of the Company&rsquo;s obligations to the consummate the transactions contemplated by this Agreement.
</FONT></P>

<P STYLE="color: #010000; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="color: #010000; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">Article
VI.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">CONDITIONS
TO THE MERGER</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 6.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Conditions
To Obligation Of Each Party To Effect The Merger</U></B>.&nbsp;&nbsp;The respective obligations of each party to effect the Merger
will be subject to the satisfaction at or prior to the Effective Time of the following conditions:</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>No
Injunctions or Restraints; Illegality</U>.&nbsp;&nbsp;No temporary restraining order, preliminary or permanent injunction or other
order (whether temporary, preliminary or permanent) issued by any court of competent jurisdiction or other legal restraint or prohibition
preventing the consummation of the Merger will be in effect, nor will any proceeding brought by any administrative agency or commission
or other Governmental Body or instrumentality, domestic or foreign, seeking any of the foregoing be pending; and there will not
be any action taken, or any statute, rule, regulation or order enacted, entered, enforced or deemed applicable to the Merger, which
makes the consummation of the Merger illegal.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Governmental
Approvals</U>.&nbsp;&nbsp;Any waiting period applicable to the consummation of the Merger under the HSR Act will have expired or
been terminated.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Stockholder
Approvals</U>.&nbsp;&nbsp;This Agreement will have been duly adopted and the Merger will have been duly approved by the Company
Stockholder Approval and the Parent Stockholder Approval Matters will have been duly adopted and approved by the Parent Stockholder
Approval.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Stock
Exchange Listing.</U>&nbsp;&nbsp;The shares of Parent Common Stock to be issued in the Merger shall have been approved for listing
on the Nasdaq, subject to official notice of issuance.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 6.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Additional
Conditions to Obligations of Parent</U></B>.&nbsp;&nbsp;The obligations of Parent to effect the Merger are also subject to the
following conditions:</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Representations
and Warranties</U>.&nbsp;&nbsp;The representations and warranties of Company (i) that constitute the Company Fundamental Representations
shall have been true and correct in all respects as of the date of this Agreement and shall be true and correct in all respects
on and as of the Closing Date with the same force and effect as if made on and as of such date (except to the extent such representations
and warranties are specifically made as of a particular date, in which case such representations and warranties shall be true and
correct as of such date) and (ii) contained in this Agreement (other than the Company Fundamental Representations) will be true
and correct in all respects on and as of the Closing Date, with the same force and effect as if made on and as of the Closing Date
(except for those representations and warranties which address matters only as of a particular date, in which case such representations
and warranties shall be true and correct as of such date), except for those inaccuracies that, individually or in the aggregate,
do not constitute a Company Material Adverse Effect; <I>provided</I>, <I>however</I>, for purposes of this clause (ii), all &ldquo;Company
Material Adverse Effect&rdquo; qualifications and other materiality qualifications limiting the scope of the representations and
warranties of Company contained in this Agreement will be disregarded.&nbsp;&nbsp;Parent will have received a certificate to such
effect signed by an officer of Company.&nbsp;&nbsp;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Agreements
and Covenants</U>.&nbsp;&nbsp;Company will have performed or complied with in all material respects its agreements and covenants
required by this Agreement to be performed or complied with by it on or prior to the Effective Time.&nbsp;&nbsp;Parent will have
received a certificate to such effect signed by and officer of Company.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Officer&rsquo;s
Certificate</U>. Parent shall have received a certificate executed by the Chief Executive Officer or Chief Financial Officer of
Company certifying (i)&nbsp;that the conditions set forth in Sections&nbsp;6.02(a), (b) and (d) have been duly satisfied and (ii)&nbsp;that
the information set forth in the Allocation Certificate delivered by Company in accordance with Section&nbsp;5.19(a) is true and
accurate in all respects as of the Closing Date.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Company
Material Adverse Effect</U>.&nbsp;&nbsp;Since the date of this Agreement, there will have been no change, occurrence or circumstance
in the business, results of operations or financial condition of Company or any Subsidiary of Company having, individually or in
the aggregate, a Company Material Adverse Effect.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>FIRPTA
Certificate</U>. Parent will have received from Company applicable FIRPTA documentation, consisting of (i) a notice to the IRS,
in accordance with the requirements of Section 1.897-2(h)(2) of the Treasury Regulations, dated as of the Closing Date and executed
by Company, together with written authorization for Parent to deliver such notice form to the IRS on behalf of Company after the
Closing, and (ii) a FIRPTA Notification Letter, in substantially the form of <B><U>Exhibit D</U></B> attached hereto, dated as
of the Closing Date and executed by Company.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Dissenting
Shares</U>.&nbsp;&nbsp;No holders of the shares of Company Capital Stock (on an as-converted to Company Common Stock basis) will
have demanded appraisal rights.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Allocation
Certificate</U>.&nbsp;&nbsp;The Chief Financial Officer of Company will have executed and delivered to Parent the Allocation Certificate.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Lock-up
Agreements</U>. The Lock-up Agreements executed by each of the Company Lock-up Signatories and each executive officer and director
of the Company who is elected or appointed, as applicable, as an executive officer and director of Parent as of immediately following
the Closing shall be in full force and effect.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Company
Board of Directors Resignation Letters</U>.&nbsp;&nbsp;Parent will have received a duly executed copy of a resignation letter from
each of the resigning members of the board of directors of Company and each of its Subsidiaries contemplated by Section 5.11, pursuant
to which each such person will resign as a member of the board of directors of Company immediately following the Effective Time.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 6.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Additional
Conditions to Obligations Of Company</U></B>.&nbsp;&nbsp;The obligation of Company to effect the Merger is also subject to the
following conditions:</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Representations
and Warranties</U>.&nbsp;&nbsp;The representations and warranties of Parent and Merger Sub (i) set forth in Sections 3.02 (Capital
Structure) and 3.03 (Authority; Non-Contravention; Approvals) will be true and correct in all material respects on and as of the
Closing Date, with the same force and effect as if made on and as of the Closing Date, except for those representations and warranties
which address matters only as of a particular date (which will remain true and correct in all material respects as of such date)
and (ii) contained in this Agreement (other than those set forth in Sections 3.02 (Capital Structure) and 3.03 (Authority; Non-Contravention;
Approvals)) will be true and correct in all respects on and as of the Closing Date, with the same force and effect as if made on
and as of the Closing Date (except for those representations and warranties which address matters only as of a particular date,
in which case such representations and warranties shall be true and correct as of such date), except for those inaccuracies that,
individually or in the aggregate, do not constitute and would not reasonably be expected to constitute a Parent Material Adverse
Effect; <I>provided</I>, <I>however</I>, for purposes of this clause (ii), all &ldquo;Parent Material Adverse Effect&rdquo; qualifications
and other materiality qualifications limiting the scope of the representations and warranties of Parent and Merger Sub contained
in this Agreement will be disregarded.&nbsp;&nbsp;Company will have received a certificate to such effect signed by an officer
of each of Parent and Merger Sub.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Agreements
and Covenants</U>.&nbsp;&nbsp;Parent and Merger Sub will have performed or complied with in all material respects its agreements
and covenants required by this Agreement to be performed or complied with by them on or prior to the Effective Time.&nbsp;&nbsp;Company
will have received a certificate to such effect signed by an officer of Parent.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Officer&rsquo;s
Certificate</U>. Company shall have received a certificate executed by the Chief Executive Officer or Chief Financial Officer of
Parent certifying (i)&nbsp;that the conditions set forth in Sections&nbsp;6.03(a), (b) and (d) have been duly satisfied and (ii)&nbsp;that
the information set forth in the Parent Certificate delivered by Parent in accordance with Section&nbsp;5.19(d) is true and accurate
in all respects as of the Closing Date.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Parent
Material Adverse Effect</U>.&nbsp;&nbsp;Since the date of this Agreement, there will have been no change, occurrence or circumstance
in the business, results of operations or financial condition of Parent or any Subsidiary of Parent having, individually or in
the aggregate, a Parent Material Adverse Effect, that is continuing.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Parent
Board of Directors Resignation Letters</U>.&nbsp;&nbsp;Company will have received a duly executed copy of a resignation letter
from each of the resigning members of the board of directors of Parent contemplated by Section 5.11 and each of the Parent Subsidiaries,
as applicable, pursuant to which each such person will resign as a member of the board of directors of Parent immediately following
the Effective Time.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Parent
Certificate</U>.&nbsp;&nbsp;The Chief Financial Officer of Parent will have executed and delivered to Company the Parent Certificate.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Lock-Up
Agreements</U>.&nbsp;&nbsp;The Lock-Up Agreements executed by each of the Parent Lock-Up Signatories and each executive officer
and director of Parent who is elected or appointed, as applicable, as an executive officer and director of Parent as of immediately
following the Closing, each of which shall be in full force and effect.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Parent
Invoices</U>. Company will have received written acknowledgements pursuant to which Parent&rsquo;s outside legal counsel and any
financial advisor, accountant or other Person who performed services for or on behalf of Parent, or who is otherwise entitled to
any compensation from Parent that in each case is owed Transaction Costs from Parent: (i)&nbsp;the total amount of Transaction
Costs that are payable to such Person; and (ii)&nbsp;that, upon receipt of the amount referred to in clause &ldquo;(i)&rdquo; above,
such party will have been paid in full and is not (and will not be) owed any other Transaction Costs (collectively, the &ldquo;<U>Parent
Invoices</U>&rdquo;).</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Employee
Matters</U>. Company will have received evidence reasonably satisfactory to it as to compliance by Parent with the provisions of
<U>Section 5.20(a)</U>.</P>

<P STYLE="color: #010000; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="color: #010000; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">Article
VII.</P>

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

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

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 7.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Termination</U></B>.&nbsp;&nbsp;This
Agreement may be terminated and the Merger may be abandoned, at any time prior to the Effective Time, notwithstanding approval
thereof by the stockholders of Company and Parent:</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>by
mutual written consent of Company and Parent duly authorized by each of their respective boards of directors;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>by
either Parent or Company if the Merger has not been consummated by the End Date (provided that the right to terminate this Agreement
under this Section 7.01(b) will not be available to any party whose failure to fulfill any obligation under this Agreement has
been a primary cause of the failure of the Merger to occur on or before such date); <I>provided</I>, <I>however</I>, in the event
that the SEC has not concluded its review of the preliminary Proxy Statement by the date which is sixty (60) days prior to the
End Date, then Parent shall be entitled to extend the End Date for an additional sixty (60) days;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>by
either Parent or Company if a court of competent jurisdiction or governmental, regulatory or administrative agency or commission
will have issued a non-appealable final order, decree or ruling or taken any other action, in each case having the effect of permanently
restraining, enjoining or otherwise prohibiting the Merger;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>by&nbsp;&nbsp;Parent
if the Company Stockholder Approval shall not have been obtained by the Company Vote Deadline; <I>provided</I>, <I>however</I>,
that once the Company Stockholder Approval has been obtained, Parent may not terminate this Agreement pursuant to this Section
7.01(d); <I>provided</I>, <I>further</I>, that the right to terminate this Agreement under this Section 7.01(d) will not be available
if Parent&rsquo;s failure to fulfill any obligation under this Agreement has been a primary cause of the failure of the Company
Stockholder Approval to be obtained at or before such time;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>by&nbsp;&nbsp;Company
if the Parent Stockholder Approval shall not have been obtained by the Parent Vote Deadline; <I>provided</I>, <I>however</I>, that
once the Parent Stockholder Approval has been obtained, Company may not terminate this Agreement pursuant to this Section 7.01(e);
<I>provided</I>, <I>further</I>, that the right to terminate this Agreement under this Section 7.01(e) will not be available if
Company&rsquo;s failure to fulfill any obligation under this Agreement has been a primary cause of the failure of the Parent Stockholder
Approval to be obtained at or before such time;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>by
either Parent or Company, if the Parent Stockholder&rsquo;s Meeting shall have been held (subject to any adjournment or postponement
permitted by Section 5.03(a)) and the Parent Stockholder Approval contemplated by this Agreement will not have been obtained thereat
(provided that the right to terminate this Agreement under this Section 7.01(f) will not be available to any party whose failure
to fulfill any obligation under this Agreement has been a primary cause of the failure of the Parent Stockholder Approval to be
obtained thereat);</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>by
Parent if (i) the Board of Directors of Company has effected a Company Change in Recommendation and (ii) the Company Stockholder
Approval shall not have been obtained by the Company Vote Deadline;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>by
Company if (A) the Board of Directors of Parent has effected a Parent Change in Recommendation and (B) the Parent Stockholder Approval
shall not have been obtained by the Parent Vote Deadline;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>by
Parent upon breach of any of the representations, warranties, covenants or agreements on the part of Company set forth in this
Agreement, or if any representation or warranty of Company will have become inaccurate, in either case such that the conditions
set forth in Section 6.02(a) or Section 6.02(b) would not be satisfied as of the time of such breach or as of the time such representation
or warranty will have become inaccurate; <I>provided</I>, <I>however</I>, if such breach or inaccuracy is curable by Company, then
this Agreement will not terminate pursuant to this Section 7.01(f) as a result of such particular breach or inaccuracy unless the
breach or inaccuracy remains uncured as of the tenth (10th) Business Day following the date of written notice given by Parent to
Company of such breach or inaccuracy and its intention to terminate the agreement pursuant to this Section 7.01(f); <I>provided</I>,
<I>further</I> that no termination may be made pursuant to this Section 7.01(f) solely as a result of the failure of Company to
obtain the Company Stockholder Approval (in which case such termination must be made pursuant to Section 7.01(d));</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>by
Company upon breach of any of the representations, warranties, covenants or agreements on the part of Parent or Merger Sub set
forth in this Agreement, or if any representation or warranty of Parent or Merger Sub will have become inaccurate, in either case
such that the conditions set forth in Section 6.03(a) or Section 6.03(b) would not be satisfied as of the time of such breach or
as of the time such representation or warranty will have become inaccurate; <I>provided</I>, <I>however</I>, if such breach or
inaccuracy is curable by Parent or Merger Sub, then this Agreement will not terminate pursuant to this Section 7.01(g) as a result
of such particular breach or inaccuracy unless the breach or inaccuracy remains uncured as of the tenth (10th) Business Day following
the date of written notice given by Company to Parent of such breach or inaccuracy and its intention to terminate the agreement
pursuant to this Section 7.01(g); <I>provided</I>, <I>further</I>, that no termination may be made pursuant to this Section 7.01(g)
solely as a result of the failure of Parent to obtain the Parent Stockholder Approval (in which case such termination must be made
pursuant to Section 7.01(e)).</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 7.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Effect
Of Termination</U></B>.&nbsp;&nbsp;In the event of the termination of this Agreement pursuant to Section 7.01, this Agreement will
forthwith become void and there will be no liability on the part of any party hereto or any of its Affiliates, directors, officers
or stockholders except (i) as set forth in Sections 7.02, and Article VIII hereof and (ii) for any liability for any willful breach
of any representation, warranty, covenant or obligation contained in this Agreement (for purposes of this Section 7.02, a &ldquo;willful
breach&rdquo; is an act or omission with the actual knowledge that such act or omission would cause a breach of this Agreement).&nbsp;&nbsp;No
termination of this Agreement will affect the obligations of the parties contained in the Confidentiality Agreement, all of which
obligations will, in addition to this Article VII and Article VIII, survive termination of this Agreement in accordance with its
terms.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 7.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Expenses;
Termination Fees</U></B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-indent: 1.5in; color: #010000"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-indent: 1.5in"><FONT STYLE="color: #010000"><B>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT>Except
as set forth in this <U>Section 7.03</U> or specifically set forth elsewhere in this Agreement, all Transaction Costs shall be
paid by the Party incurring such expenses, whether or not the Merger is consummated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-indent: 1.5in"><FONT STYLE="color: #010000"><B>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT>If
this Agreement is terminated by Parent pursuant to <U>Section 7.01(d), Section 7.01(f)</U> or <U>Section 7.01(g)</U>, (i) then
Company shall pay to Parent an amount equal to $249,000 (the &ldquo;<B><I>Termination Fee</I></B>&rdquo;), plus any amount payable
to Company pursuant to Section 7.03(d).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-indent: 1.5in"><FONT STYLE="color: #010000"><B>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT>If
this Agreement is terminated by Company pursuant to Section 7.1(e), Section 7.1(f) or Section 7.1(h), then Parent shall pay to
Company the Termination Fee, plus any amount payable to Parent pursuant to Section 7.03(d).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-indent: 1.5in"><FONT STYLE="color: #010000"><B>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT>If
either Party fails to pay when due any amount payable by it under this <U>Section 7.03</U>, then (i) such Party shall reimburse
the other Party for reasonable costs and expenses (including reasonable fees and disbursements of counsel) incurred in connection
with the collection of such overdue amount and the enforcement by the other Party of its rights under this <U>Section 7.03</U>
and (ii) such Party shall pay to the other Party interest on such overdue amount (for the period commencing as of the date such
overdue amount was originally required to be paid and ending on the date such overdue amount is actually paid to the other Party
in full) at a rate per annum equal to the &ldquo;prime rate&rdquo; (as announced by Bank of America or any successor thereto) in
effect on the date such overdue amount was originally required to be paid plus three percent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-indent: 1.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-indent: 1.5in">&nbsp;</P>

<P STYLE="color: #010000; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">Article
VIII.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">GENERAL
PROVISIONS</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 8.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Notices</U></B>.&nbsp;&nbsp;Any
notice or other communication required or permitted to be delivered to any party under this Agreement will be in writing and will
be deemed properly delivered, given and received:&nbsp;&nbsp;(a) if delivered by hand, when delivered; (b) if sent on a Business
Day by email before 11:59 p.m. (recipient&rsquo;s time), when transmitted; (c) if sent by email on a day other than a Business
Day, or if sent by email after 11:59 p.m. (recipient&rsquo;s time), on the Business Day following the date when transmitted; (d)
if sent by registered, certified or first class mail, the third Business Day after being sent; and (e) if sent by overnight delivery
via a national courier service, one Business Day after being sent, in each case to the address set forth beneath the name of such
party below (or to such other address as such party shall have specified in a written notice given to the other parties hereto):</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="color: #010000">(a)</FONT></TD><TD STYLE="text-align: justify">If to Parent or Merger Sub:</TD>
</TR></TABLE>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0in">2150 Cabot Blvd., West, Suite B</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0in">Langhorne, PA 19047</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0in">E-Mail: djohnson@alliqua.com</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0in">30 Rockefeller Plaza</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0in">26th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0in">New York, NY 10112</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in; text-align: left">Attn.:</TD><TD STYLE="text-align: justify">Rick A. Werner</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0.5in">Greg Kramer</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in; text-align: left">E-Mail:</TD><TD STYLE="text-align: justify">rick.werner@haynesboone.com</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0.5in">greg.kramer@haynesboone.com</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="color: #010000">(b)</FONT></TD><TD STYLE="text-align: justify">If to Company:</TD>
</TR></TABLE>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0in">100 Pine Street, Suite 500</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0in">San Francisco, CA 94111</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0in">Email: rorr@adynxx.com</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0in">3175 Hanover Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0in">Palo Alto, CA 94304</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 1in; text-align: left">Attention:</TD><TD STYLE="text-align: justify">Laura Medina</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 1in">John McKenna</P>

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<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 1in; text-align: left">Email:</TD><TD STYLE="text-align: justify"><U>lmedina@cooley.com</U></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 1in">jmckenna@cooley.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 8.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Amendment</U></B>.&nbsp;&nbsp;This
Agreement may be amended by the parties hereto by action taken by or on behalf of their respective boards of directors at any time
prior to the Effective Time; <I>provided</I>, <I>however</I>, that, after approval of the Merger by the Company Stockholder Approval
or the Parent Stockholder Approval, as applicable, no amendment may be made which by Legal Requirements requires further approval
by such stockholders without such further approval.&nbsp;&nbsp;This Agreement may not be amended except by an instrument in writing
signed by the parties hereto.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 8.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Headings</U></B>.&nbsp;&nbsp;The
headings contained in this Agreement are for reference purposes only and will not affect in any way the meaning or interpretation
of this Agreement.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 8.04&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Severability</U></B>.&nbsp;&nbsp;If
any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule of law, or public
policy, all other conditions and provisions of this Agreement will nevertheless remain in full force and effect so long as the
economic or legal substance of the Transactions is not affected in any manner adverse to any party.&nbsp;&nbsp;Upon such determination
that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto will negotiate in good
faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in an acceptable manner
to the end that Transactions are fulfilled to the extent possible.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 8.05&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Entire
Agreement</U></B>.&nbsp;&nbsp;This Agreement constitutes the entire agreement and supersede all prior agreements and undertakings
(other than the Confidentiality Agreement), both written and oral, among the parties, or any of them, with respect to the subject
matter hereof and, except as otherwise expressly provided herein, are not intended to confer upon any other person any rights or
remedies hereunder.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 8.06&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Successors
and Assigns</U></B>.&nbsp;&nbsp;This Agreement will be binding upon:&nbsp;&nbsp;(a) Company and its successors and assigns (if
any); (b) Parent and its successors and assigns (if any); (c) Merger Sub and its successors and assigns (if any); and (d) the Company
Stockholders.&nbsp;&nbsp;This Agreement will inure to the benefit of:&nbsp;&nbsp;(i) Company; (ii) Parent; (iii) Merger Sub; (iv)
the other Parent Indemnified Persons; and (v) the respective successors and assigns (if any) of the foregoing.&nbsp;&nbsp;No party
may assign this Agreement or any of its rights, interests or obligations hereunder without the prior written approval of the other
parties hereto.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 8.07&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Parties
In Interest</U></B>.&nbsp;&nbsp;This Agreement will be binding upon and inure solely to the benefit of each party hereto, and nothing
in this Agreement, expressed or implied, is intended to or will confer upon any other person any right, benefit or remedy of any
nature whatsoever under or by reason of this Agreement, other than Section 5.06 (which is intended to be for the benefit of the
parties indemnified thereby and may be enforced by such parties).</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 8.08&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Waiver</U></B>.&nbsp;&nbsp;No
failure or delay on the part of any party hereto in the exercise of any right hereunder will impair such right or be construed
to be a waiver of, or acquiescence in, any breach of any representation, warranty or agreement herein, nor will any single or partial
exercise of any such right preclude other or further exercise thereof or of any other right.&nbsp;&nbsp;At any time prior to the
Effective Time, any party hereto may, with respect to any other party hereto, (a) extend the time for the performance of any of
the obligations or other acts, (b) waive any inaccuracies in the representations and warranties contained herein or in any document
delivered pursuant hereto and (c) waive compliance with any of the agreements or conditions contained herein.&nbsp;&nbsp;Any such
extension or waiver will be valid if set forth in an instrument in writing signed by the party or parties to be bound.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>


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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 8.09&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Remedies
Cumulative; Specific Performance</U></B>.&nbsp;&nbsp;All rights and remedies existing under this Agreement are cumulative to, and
not exclusive of, any rights or remedies otherwise available.&nbsp;&nbsp;Each party to this Agreement agree that, in the event
of any breach or threatened breach by the other party of any covenant, obligation or other provision set forth in this Agreement:&nbsp;&nbsp;(a)
such party will be entitled, without any proof of actual damages (and in addition to any other remedy that may be available to
it) to:&nbsp;&nbsp;(i) a decree or order of specific performance or mandamus to enforce the observance and performance of such
covenant, obligation or other provision; and (ii) an injunction restraining such breach or threatened breach; and (b) such party
will not be required to provide any bond or other security in connection with any such decree, order or injunction or in connection
with any related action or Legal Proceeding.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 8.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Governing
Law; Venue; Waiver of Jury Trial</U></B>.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>This
Agreement will be governed by, and construed in accordance with, the laws of the State of Delaware, regardless of the laws that
might otherwise govern under applicable principles of conflicts of laws thereof.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Any
action, suit or other Legal Proceeding relating to this Agreement or the enforcement of any provision of this Agreement will be
brought or otherwise commenced exclusively in the Court of Chancery of the State of Delaware or, if jurisdiction over the matter
is vested exclusively in the federal courts, the United States District Court for the District of Delaware.&nbsp;&nbsp;Each party
to this Agreement:&nbsp;&nbsp;(i) expressly and irrevocably consents and submits to the exclusive jurisdiction of such court (and
each appellate court therefrom) in connection with any such action, suit or Legal Proceeding; (ii) agrees that such court will
be deemed to be a convenient forum and (iii) agrees not to assert (by way of motion, as a defense or otherwise), in any such action,
suit or Legal Proceeding commenced in any such court, any claim that such party is not subject personally to the jurisdiction of
such court, that such action, suit or Legal Proceeding has been brought in an inconvenient forum, that the venue of such action,
suit or other Legal Proceeding is improper or that this Agreement or the subject matter of this Agreement may not be enforced in
or by such court.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>EACH
OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE EXTENT PERMITTED BY APPLICABLE LEGAL REQUIREMENTS, ANY AND ALL RIGHT TO
TRIAL BY JURY IN ANY ACTION, SUIT OR OTHER LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 8.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Counterparts
and Exchanges by Electronic Transmission or Facsimile</U></B>.&nbsp;&nbsp;This Agreement may be executed in one or more counterparts,
and by the different parties hereto in separate counterparts and by facsimile or electronic (i.e., PDF) transmission, each of which
when executed will be deemed to be an original but all of which taken together will constitute one and the same agreement.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 8.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Attorney
Fees</U></B>.&nbsp;&nbsp;In any action at law or suit in equity to enforce this Agreement or the rights of any of the parties hereunder,
the prevailing party in such action or suit will be entitled to receive a reasonable sum for its attorneys&rsquo; fees and all
other reasonable costs and expenses incurred in such action or suit.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>


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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 8.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Cooperation</U></B>.&nbsp;&nbsp;In
further of, and not in limitation of, any other provision of this Agreement, each party hereto agrees to cooperate fully with the
other parties hereto and to execute and deliver such further documents, certificates, agreements and instruments and to take such
other actions as may be reasonably requested by the other parties hereto to evidence or reflect the Transactions and to carry out
the intent and purposes of this Agreement.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 8.14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Non-Survival
of Representations, Warranties</U></B>.&nbsp;&nbsp;The representations and warranties of the Company, Parent and Merger Sub contained
in this Agreement or any certificate or instrument delivered pursuant to this Agreement shall terminate at the Effective Time,
and only the covenants that by their terms survive the Effective Time and this Article VIII shall survive the Effective Time.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="color: #010000">Section 8.15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Construction</U></B>.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>References
to &ldquo;cash,&rdquo; &ldquo;dollars&rdquo; or &ldquo;$&rdquo; are to U.S. dollars.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>For
purposes of this Agreement, whenever the context requires:&nbsp;&nbsp;the singular number will include the plural, and vice versa;
the masculine gender will include the feminine and neuter genders; the feminine gender will include the masculine and neuter genders;
and the neuter gender will include masculine and feminine genders.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
parties hereto agree that any rule of construction to the effect that ambiguities are to be resolved against the drafting party
will not be applied in the construction or interpretation of this Agreement.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>As
used in this Agreement, the words &ldquo;include&rdquo; and &ldquo;including,&rdquo; and variations thereof, will not be deemed
to be terms of limitation, but rather will be deemed to be followed by the words &ldquo;without limitation.&rdquo;</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Except
as otherwise indicated, all references in this Agreement to &ldquo;Sections,&rdquo; &ldquo;Exhibits&rdquo; and &ldquo;Schedules&rdquo;
are intended to refer to Sections of this Agreement and Exhibits or Schedules to this Agreement.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Any
reference to legislation or to any provision of any legislation shall include any modification, amendment, re-enactment thereof,
any legislative provision substituted therefore and all rules, regulations, and statutory instruments issued or related to such
legislations.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
term &ldquo;<B><I>knowledge of Company</I></B>&rdquo;, and all variations thereof, will mean the actual knowledge of Rick Orr,
and the knowledge such persons would reasonably be expected to have after making reasonable inquiry of their direct reports who
are responsible for the subject matter of the particular representation or warranty.&nbsp;&nbsp;The term &ldquo;<B><I>knowledge
of Parent</I></B>&rdquo;, and all variations thereof, will mean the actual knowledge of David Johnson, and the knowledge such persons
would reasonably be expected to have after making reasonable inquiry of their direct reports who are responsible for the subject
matter of the particular representation or warranty.</P>

<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="color: #010000; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><FONT STYLE="color: #010000">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Whenever
the last day for the exercise of any privilege or the discharge of any duty hereunder shall fall upon a Saturday, Sunday, or any
date on which banks in New York, New York are authorized or obligated by Legal Requirements to be closed, the Party having such
privilege or duty may exercise such privilege or discharge such duty on the next succeeding day which is a regular Business Day.</P>

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

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

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>IN WITNESS WHEREOF</B>, the undersigned parties have caused
this Agreement to be executed as of the date first written above.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt"><B>ALLIQUA BIOMEDICAL, INC.</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 7%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 42%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">/s/ David Johnson</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">David Johnson</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-left: 0.5in; text-indent: -0.5in">Chief Executive Officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt"><B>EMBARK MERGER SUB INC.</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">/s/ David Johnson</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">David Johnson</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">Chief Executive Officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt"><B>ADNYXX, INC.</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">/s/ Rick Orr</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">Rick Orr</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-left: 0.5in; text-indent: -0.5in">President and
    Chief Executive Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><I>[Signature Page to Agreement and Plan
of Merger and Reorganization]</I></P>

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


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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For purposes of the Agreement (including this <B><U>Exhibit
A</U></B>):</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Acquired Companies</I></B>&rdquo; mean Company
and its direct and indirect Subsidiaries.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Acquiring Companies</I></B>&rdquo; mean Parent
and its direct and indirect Subsidiaries.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Acquisition Proposal</I></B>&rdquo; means any offer,
proposal or indication of interest contemplating or which would reasonably be interpreted to be lead to the contemplation of an
Acquisition Transaction.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Acquisition Transaction</I></B>&rdquo; means any
transaction or series of transactions involving:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
any merger, consolidation, amalgamation, share exchange, business combination, issuance of securities, acquisition of securities,
tender offer, exchange offer or other similar transaction (i) in which Company (or its Subsidiaries) or Parent (or its Subsidiaries)
is a constituent corporation, (ii) in which a Person or &ldquo;group&rdquo; (as defined in the Exchange Act and the rules promulgated
thereunder) of Persons directly or indirectly acquires beneficial or record ownership of securities representing more than 20%
of the outstanding securities of any class of voting securities of Company (or its Subsidiaries) or Parent (or its Subsidiaries),
or (iii) in which Company (or its Subsidiaries) or Parent (or its Subsidiaries) issues securities representing more than 20% of
the outstanding securities of any class of voting securities of any such Entity (other than as contemplated under this Agreement);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
any sale, lease, exchange, transfer, license, acquisition or disposition of any business or businesses or assets that constitute
or account for 20% or more of the consolidated net revenues, net income or assets of Company (or its Subsidiaries) or Parent (or
its Subsidiaries); or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
any liquidation or dissolution of any of Company (or its Subsidiaries) or Parent (or its Subsidiaries).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Affiliates</I></B>&rdquo; mean, with respect to
any Person, any other Person which directly or indirectly controls, is controlled by or is under common control with such Person.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Applicable Amount</I></B>&rdquo; means 0.8625;
<I>provided, however</I>, that if the Company raises more than $10,000,000 in the Permitted Financing (including the conversion
of convertible promissory notes outstanding as of the date of this Agreement), then, in such instance the &ldquo;Applicable Amount&rdquo;
shall be ratably adjusted upward on a sliding scale from 0.8625 to account for such excess amount raised in the Permitted Financing
such that, in the event Company raises $20,000,000 in the Financing (including the conversion of convertible promissory notes outstanding
as of the date of this Agreement), the Applicable Amount means 0.9.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Business Day</I></B>&rdquo; means a day other than
a Saturday, Sunday or other day on which banks located in New York, New York are authorized or required by applicable Legal Requirements
to close.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Cash Dividend</I></B>&rdquo; means a cash dividend,
declared and paid or to be paid to stockholders of Parent as of the Parent Record Date, of a per share amount calculated as the
quotient of (a)(i) Closing Parent Cash <I>minus</I> (ii) Indebtedness of Parent outstanding as of immediately prior to the Effective
Time <I>minus</I> (iii) Transaction Costs of Parent <I>minus</I> (iv) the amount (expressed as a positive number), if any, by which
the Working Capital is less than zero ($0) <I>divided</I> by (b) the number of shares of Parent Capital Stock outstanding as of
the Parent Record Date.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Closing Company Cash</I></B>&rdquo; means the Company&rsquo;s
cash on hand immediately prior to the Effective Time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Closing Parent Cash</I></B>&rdquo; means Parent&rsquo;s
cash on hand immediately prior to the Effective Time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>COBRA</I></B>&rdquo; means the health care continuation
and notice provisions of the Consolidated Omnibus Budget Reconciliation Act of 1985 and the regulations thereunder or any state
Legal Requirement governing health care coverage extension or continuation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Company Capital Stock</I></B>&rdquo; means the
Company Common Stock and the Company Preferred Stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Company Common Stock</I></B>&rdquo; means the Common
Stock of the Company, par value $0.001.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Company Disclosure Schedule</I></B>&rdquo; means
the disclosure schedule in agreed form that has been delivered by Company to Parent on the date of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Company Fundamental Representations</I></B>&rdquo;
means the representations and warranties of the Company set forth in Sections&nbsp;2.01 (Organization and Qualification; Charter
Documents), 2.02 (Capital Structure), 2.03 (Authority; Non-Contravention; Approvals), 2.11 (Brokers&rsquo; And Finders&rsquo; Fees)
and 2.13 (Title to Assets; Real Property).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Company IP Rights</I></B>&rdquo; mean all IP Rights
owned solely or co-owned by an Acquired Company or in which an Acquired Company has any right, title or interest and which are
used by an Acquired Company in the ordinary course of its business.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Company Material Adverse Effect</I></B>&rdquo;
means any effect, change, event or circumstance (an &ldquo;<B><I>Effect</I></B>&rdquo;) that (a) has or would reasonably be expected
to have a material adverse effect on the business, financial condition, operations or results of operations of the Acquired Companies
taken as a whole; <I>provided</I>, <I>however</I>, that, in no event will any of the following, alone or in combination, be deemed
to constitute, nor shall any of the following be taken into account in determining whether there has occurred, a Company Material
Adverse Effect:&nbsp;&nbsp;Effects resulting from (i) conditions generally affecting the industries in which the Acquired Companies
operate (ii) changes generally affecting the United States or global economy or capital markets as a whole; (iii) any natural disaster
or any acts of terrorism, sabotage, military action or war or any escalation or worsening thereof; or (iv) any changes (after the
date of this Agreement) in GAAP or applicable Legal Requirements, and with respect to items (i) - (iv), only to the extent that,
individually or in the aggregate, such Effects do not have a disproportionate impact on the Acquired Companies taken as a whole;
or (b) prevents the Company from consummating the Merger.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Company Option</I></B>&rdquo; means an option to
purchase shares of Company Capital Stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Company Option Plan</I></B>&rdquo; means the Adynxx,
Inc. 2010 Equity Incentive Plan with an effective date of December 8, 2010, as established and maintained by the Company and as
amended and restated from time to time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Company Outstanding Shares</I></B>&rdquo;
means the (a) the total number of shares of Company Common Stock outstanding immediately prior to the Effective Time
(assuming the conversion of the Company Preferred Stock into Company Common Stock immediately prior to the Effective Time)
and (b) the total number of shares of Company Common Stock that, immediately prior to the Effective Time, are issuable upon
exercise of Company Options (whether or not vested or currently exercisable) and Company Warrants. Company Outstanding Shares
shall include any equity securities issuable at or after the Effective Time by Parent in connection with the Transaction Costs of the Company.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Company Preferred Stock</I></B>&rdquo; means the
Company&rsquo;s Series A and Series B Preferred Stock, collectively.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Company Restricted Share</I></B>&rdquo; means a
share of Company Capital Stock that is subject to repurchase by, or forfeiture to, the Company pursuant to restricted stock or
similar agreements with the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Company Stockholders</I></B>&rdquo; mean the holders
of Company Capital Stock issued and outstanding immediately prior to the Effective Time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Company Superior Offer</I></B>&rdquo; means an
unsolicited, bona fide written Acquisition Proposal (with all references to 20% in the definition of Acquisition Proposal being
treated as references to 50% for these purposes) made by a third party that (a) was not obtained or made as a direct or indirect
result of a breach of (or in violation of) this Agreement and (b) the terms of which the board of directors of Company determines,
in its reasonable judgment after consulting in good faith with an independent financial advisor and its outside legal counsel,
to be more favorable to its stockholders from a financial point of view than the terms of the Merger, as well as the likelihood
of the consummation thereof, which consideration shall include whether any financing is or may be required to consummate the transaction
contemplated by such proposal, and whether such financing is committed and is reasonably capable of being obtained by the applicable
offeror.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Company Warrant</I></B>&rdquo; means a warrant
to purchase shares of Company Capital Stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Consent</I></B>&rdquo; means any approval, consent,
ratification, permission, waiver or authorization.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Contract</I></B>&rdquo; means any written agreement,
contract, subcontract, lease, understanding, arrangement, instrument, note, option, warranty, purchase Order, license, sublicense,
insurance policy, benefit plan or legally binding commitment or undertaking of any nature.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Copyrights</I></B>&rdquo; mean all copyrights and
copyrightable works (including without limitation databases and other compilations of information, mask works and semiconductor
chip rights), including all rights of authorship, use, publication, reproduction, distribution, performance, transformation, moral
rights and rights of ownership of copyrightable works and all registrations and rights to register and obtain renewals and extensions
of registrations, together with all other interests accruing by reason of international copyright.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Encumbrance</I></B>&rdquo; means any lien, pledge,
hypothecation, charge, mortgage, easement, encroachment, imperfection of title, title exception, title defect, right of possession,
lease, tenancy license, security interest, encumbrance, community property interest or restriction of any nature (including any
restriction on the voting of any security, any restriction on the transfer of any security or other asset, any restriction on the
receipt of any income derived from any asset, any restriction on the use of any asset and any restriction on the possession, exercise
or transfer of any other attribute of ownership of any asset).&nbsp;&nbsp;For the avoidance of doubt, Encumbrance does not include
Out-Licenses.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>End Date</I></B>&rdquo; means the date that is
six (6) months after the date of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Employee Benefit Plan</I></B>&rdquo; means each
plan, program, policy, contract, agreement or other arrangement providing for retirement, pension, deferred compensation, severance,
separation pay, relocation benefits, termination pay, performance awards, bonus compensation, incentive compensation, stock option,
stock purchase, stock bonus, phantom stock, stock appreciation right, supplemental retirement, profit sharing, fringe benefits,
cafeteria benefits, medical benefits, life insurance, disability benefits, accident benefits, salary continuation, accrued leave,
vacation, sabbatical, sick pay, sick leave, or other employee benefits, whether written or unwritten, including each &ldquo;voluntary
employees&rsquo; beneficiary association&rdquo; under Section 501(c)(9) of the Code and each &ldquo;employee benefit plan&rdquo;
within the meaning of Section 3(3) of ERISA, in each case, for active, retired or former employees, directors or consultants.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Entity</I></B>&rdquo; means any corporation (including
any non-profit corporation), general partnership, limited partnership, limited liability partnership, joint venture, estate, trust,
company (including any company limited by shares, limited liability company or joint stock company), firm, society or other enterprise,
association, organization or entity.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>ERISA</I></B>&rdquo; means the Employee Retirement
Income Security Act of 1974, as amended.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>ERISA Affiliate</I></B>&rdquo; means any trade
or business (whether or not incorporated) that is or at any relevant time was treated as a single employer with any Person within
the meaning of Section 414 of the Code.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Exchange Ratio</I></B>&rdquo; means the following
ratio (rounded to four decimal places): the quotient of (a) the Merger Shares <I>divided</I> by (b) the Company Outstanding Shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Excluded Contracts</I></B>&rdquo; means (i) any
non-exclusive Contract concerning &ldquo;off-the-shelf&rdquo; or similar computer software that is available on commercially reasonable
terms, (ii) standard non-disclosure, confidentiality and material transfer Contracts granting non-exclusive rights to IP Rights
and entered into in the Ordinary Course of Business, (iii) Contracts that have expired on their own terms or were terminated and
for which there are no material outstanding obligations, and (v) purchase orders and associated terms and conditions for which
the underlying goods or services have been delivered or received.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>FDA</I></B>&rdquo; means the United States Food
and Drug Administration.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Financing</I></B>&rdquo; shall mean the sale and
issuance of debt or equity securities by Company to former or existing stockholders or other investors or their respective Affiliates
in the Company or its Subsidiaries.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Governmental Body</I></B>&rdquo; means any:&nbsp;&nbsp;(a)
nation, state, commonwealth, province, territory, county, municipality, district or other jurisdiction of any nature; (b) federal,
state, local, municipal, foreign or other government; or (c) governmental or quasi-governmental authority of any nature (including
any governmental division, regulatory agency, department, agency, commission, instrumentality, official, ministry, fund, foundation,
center, organization, unit, body or Entity and any court or other tribunal).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>HSR Act</I></B>&rdquo; means the Hart-Scott-Rodino
Antitrust Improvements Act of 1976, as amended.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&ldquo;<I>Indebtedness</I></B>&rdquo; means (i) all obligations
for borrowed money and advancement of funds; (ii) all obligations evidenced by notes, bonds, debentures or similar instruments,
contracts or arrangements (whether or not convertible), (iii) all obligations for the deferred purchase price of property or services
(including any potential future earn-out, purchase price adjustment, releases of &ldquo;holdbacks&rdquo; or similar payments, but
excluding any such obligations to the extent there is cash being held by a third party in escrow exclusively for purposes of satisfying
such obligations) (&ldquo;<B><I>Deferred Purchase Price</I></B>&rdquo;); (iv)&nbsp;all obligations arising out of any financial
hedging, swap or similar arrangements; (v)&nbsp;all obligations as lessee that would be required to be capitalized in accordance
with GAAP, whether or not recorded; (vi)&nbsp;all obligations in connection with any letter of credit, banker&rsquo;s acceptance,
guarantee, surety, performance or appeal bond, or similar credit transaction; (vii)&nbsp;interest payable with respect to Indebtedness
referred to in clause&nbsp;(i) through (vi), and (viii)&nbsp;the aggregate amount of all prepayment premiums, penalties, breakage
costs, &ldquo;make whole amounts,&rdquo; costs, expenses and other payment obligations of such Person that would arise (whether
or not then due and payable) if all such items under clauses (i)&nbsp;through (vii) were prepaid, extinguished, unwound and settled
in full as of such specified date.&nbsp;&nbsp;For purposes of determining the Deferred Purchase Price obligations as of a specified
date, such obligations shall be deemed to be the maximum amount of Deferred Purchase Price owing as of such specified date (whether
or not then due and payable) or potentially owing at a future date.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>IP Rights</I></B>&rdquo; mean any and all of the
following in any country or region:&nbsp;&nbsp;(a) Copyrights, Patent Rights, Trademark Rights, domain name registrations, Trade
Secrets, and other intellectual property rights; and (b) the right (whether at law, in equity, by Contract or otherwise) to enjoy
or otherwise exploit any of the foregoing, including the rights to sue for and remedies against past, present and future infringements
of any or all of the foregoing, and rights of priority and protection of interests therein under the Legal Requirements of any
jurisdiction worldwide.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Legal Proceeding</I></B>&rdquo; means any action,
suit, litigation, arbitration, proceeding (including any civil, criminal, administrative, investigative or appellate proceeding),
hearing, audit, examination or investigation commenced, brought, conducted or heard by or before, or otherwise involving, any court
or other Governmental Body or any arbitrator or arbitration panel.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Legal Requirements</I></B>&rdquo; mean any federal,
state, local, municipal, foreign or other law, statute, constitution, controlling principle of common law, resolution, ordinance,
code, edict, decree, rule, regulation, ruling or requirement issued, enacted, adopted, promulgated, implemented or otherwise put
into effect by or under the authority of any Governmental Body.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Lock-up Agreement Signatories</I></B>&rdquo; means
those Persons set forth on <B><U>Schedule A</U></B>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Merger Shares</I></B>&rdquo; means the product
of (a) the Total Outstanding Shares <I>multiplied</I> by (b) the Applicable Amount.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Merger Sub Common Stock</I></B>&rdquo; means the
Common Stock, $0.001 par value per share, of the Merger Sub.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Nasdaq</I></B>&rdquo; means The Nasdaq Capital
Market.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Order</I></B>&rdquo; means any order, writ, injunction,
judgment or decree.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Out-of-the-Money Parent Securities</I></B>&rdquo;
means any Parent Options and Parent Warrants having an exercise price in excess of $6.87 (as adjusted for any stock splits, combinations,
reorganizations and the like with respect to the Parent Common Stock between the date of announcement and the Effective Time).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Parent Capital Stock</I></B>&rdquo; means Parent
Common Stock and Parent Preferred Stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Parent Disclosure Schedule</I></B>&rdquo; means
the disclosure schedule that has been delivered by Parent to Company on the date of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Parent IP Rights</I></B>&rdquo; mean all IP Rights
of the Parent or its Subsidiaries.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Parent Material Adverse Effect</I></B>&rdquo; means
any Effect that, considered together with all other Effects, (a) has a material adverse effect on the business, financial condition,
operations or results of operations of Parent and its Subsidiaries taken as a whole; <I>provided</I>, <I>however</I>, that, in
no event will any of the following, alone or in combination, be deemed to constitute, nor will any of the following be taken into
account in determining whether there has occurred, a Parent Material Adverse Effect:&nbsp;&nbsp;Effects resulting (i) from conditions
generally affecting the industries in which Parent participates; (ii) changes generally affecting the United States or global economy
or capital markets as a whole; (iii) changes in the trading price or trading volume of Parent Common Stock (it being understood,
however, that any Effect causing or contributing to such changes in the trading price or trading volume of Parent Common Stock
may if not otherwise to be disregarded pursuant to a different subclause of this definition, constitute a Parent Material Adverse
Effect and may be taken into account in determining whether a Parent Material Adverse Effect has occurred); (iv) any natural disaster
or any acts of terrorism, sabotage, military action or war or any escalation or worsening thereof; and (v) any changes (after the
date of this Agreement) in GAAP or applicable Legal Requirements, and with respect to items (i), (ii), (iv) and (v), only to the
extent that, individually or in the aggregate, such Effects do not have a disproportionate impact on the Acquired Companies taken
as a whole; or (b) prevents Parent or Merger Sub from consummating the Merger.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Parent Outstanding Shares</I></B>&rdquo; means
the means the sum of (a) the total number of shares of Parent Common Stock outstanding immediately prior to the Effective Time,
(b) the total number of shares of Parent Common Stock that, immediately prior to the Effective Time, are issuable upon exercise
of Parent Options (whether or not vested or currently exercisable) and Parent Warrants, in each case other than Out-of-the-Money
Parent Securities and (c) the total number of shares of Parent Common Stock underlying Parent RSUs outstanding immediately prior
to the Effective Time. Parent Outstanding Shares shall include any equity securities that are issuable at or after the Effective Time by Parent in connection with the Transaction Costs of Parent.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Parent Record Date</I></B>&rdquo; the date (which
shall occur prior to the Effective Time) with respect to which Parent stockholders of record on such date will receive the Cash
Dividend.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Parent RSUs</I></B>&rdquo; means restricted stock
units issued by Parent.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Parent Stock Option Plans</I></B>&rdquo; mean the
2014 Long Term Incentive Plan, the 2011 Long Term Incentive Plan, and the 2001 Long Term Incentive Plan, each as established and
maintained by Parent (or a predecessor to Parent) and as amended and restated from time to time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Parent Superior Offer</I></B>&rdquo; means an unsolicited,
bona fide written Acquisition Proposal (with all references to 20% in the definition of Acquisition Proposal being treated as references
to 50% for these purposes) made by a third party that (a) was not obtained or made as a direct or indirect result of a breach of
(or in violation of) this Agreement and (b) the terms of which the board of directors of Parent determines, in its reasonable judgment
after consulting in good faith with an independent financial advisor and its outside legal counsel, to be more favorable to its
stockholders from a financial point of view than the terms of the Merger, as well as the likelihood of the consummation thereof,
which consideration shall include whether any financing is or may be required to consummate the transaction contemplated by such
proposal, and whether such financing is committed and is reasonably capable of being obtained by the applicable offeror.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Parent Transactions</I></B>&rdquo; means the Transactions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&ldquo;Parent Unaudited Interim Balance Sheet&rdquo; </I></B>means
the balance sheet included in Parent&rsquo;s Form 10-Q for the period ended June 30, 2018.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Parent Warrant</I></B>&rdquo; means any warrant
to purchase shares of Parent Capital Stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Patent Rights</I></B>&rdquo; mean all issued patents,
pending patent applications and abandoned patents and patent applications provided that they can be revived (which for purposes
of this Agreement will include utility models, design patents, industrial designs, certificates of invention and applications for
certificates of invention and priority rights) in any country or region, including all provisional applications, substitutions,
continuations, continuations-in-part, divisions, renewals, reissues, re-examinations and extensions thereof.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Permitted Financing</I></B>&rdquo; shall mean a
Financing in an amount not to exceed $20,000,000 (including the conversion or exchange of any promissory notes of Company outstanding
as of the date of this Agreement).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Permitted Liens</I></B>&rdquo; means (i)&nbsp;Liens
for Taxes, assessments or other governmental charges or levies not yet delinquent or that are being contested in good faith by
appropriate Legal Proceedings or that may thereafter be paid without penalty; (ii)&nbsp;statutory Liens of landlords or lessors
under rental agreements for amounts not delinquent, (iii) mechanics&rsquo;, carriers&rsquo;, warehousemen&rsquo;s, workers&rsquo;,
repairers&rsquo; and similar Liens imposed by applicable Law or arising or incurred in the ordinary course of business consistent
with past practice with respect to amounts not yet due and payable or being contested in good faith by appropriate Legal Proceedings;
(iv)&nbsp;Liens incurred or deposits made in the ordinary course of business consistent with past practice in connection with workers&rsquo;
compensation, unemployment insurance or other types of social security; and (v)&nbsp;licenses and other similar rights granted
and obligations incurred in the ordinary course of business consistent with past practice that are not material to the operation
of the applicable business, (vi) Liens or encumbrances of record affecting any owned or leased real property, any matters that
would be disclosed by a survey of any owned or leased real property and any zoning, land use, covenants, conditions and restrictions
or similar matters affecting any owned or leased real property, in each case that would not be reasonably likely to materially
interfere with the present use or occupancy of such real property.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Person</I></B>&rdquo; means any person, Entity,
Governmental Body, or group (as defined in Section 13(d)(3) of the Exchange Act).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Personal Data</I></B>&rdquo; means a natural person&rsquo;s
name, street address, telephone number, e-mail address, photograph, social security number, driver&rsquo;s license number, passport
number, or any other piece of information that allows the identification of a natural person.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The &ldquo;<B><I>Phase 2 Study</I></B>&rdquo; means the Company&rsquo;s
currently planned Phase 2 clinical trial for brivoligide in total knee arthroplasty patients.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&ldquo;Proxy Statement&rdquo; </I></B>shall mean the proxy
statement to be sent to Company&rsquo;s stockholders in connection with the approval of this Agreement and the Merger (by signing
the Company Stockholder Written Consent) and to Parent&rsquo;s stockholders in connection with the Parent&rsquo;s Stockholders&rsquo;
Meeting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Registrable Securities</I></B>&rdquo; means shares
of Parent Common Stock issued in connection with the Closing pursuant to this Agreement; <I>provided</I>, <I>however</I>, that
shares of Parent Common Stock shall cease to be Registrable Securities hereunder if and when (a)&nbsp;such Registrable Securities
have been sold, transferred or otherwise disposed of pursuant to an effective registration statement registering such Registrable
Securities under the Securities Act, (b) such Registrable Securities have been sold, transferred or otherwise disposed of pursuant
to Rule 144 of the Securities Act (&ldquo;<B><I>Rule 144</I></B>&rdquo;) or (c)&nbsp;with respect to the Registrable Shares held
by a particular securityholder, such securityholder holds a number of Registrable Securities less than the number of share of Parent
Common Stock that can be sold by such securityholder in a single 90-day period pursuant to Rule 144 (including Rule 144(e)).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A party&rsquo;s &ldquo;<B><I>Representatives</I></B>&rdquo;
include each Person that is or becomes (a) a Subsidiary or other controlled Affiliate of such party or (b) an officer, director,
employee, partner, attorney, advisor, accountant, agent or representative of such party or of any such party&rsquo;s Subsidiaries
or other controlled Affiliates.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>SEC Documents</I></B>&rdquo; mean each report,
registration statement, proxy statement and other statements, reports, schedules, forms and other documents filed by Parent with
the SEC since the Parent Lookback Date, including all amendments thereto.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>SpinCo</I></B>&rdquo; means AquaMed Technologies,
Inc.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Spin-Off</I></B>&rdquo; means shall mean the transaction
or series of transactions resulting in (a) the divestiture in one or a series of transactions, including by way of stock transfer,
asset sale, merger or otherwise, by the Parent of SpinCo, which shall consist solely of Parent&rsquo;s custom hydrogel manufacturing
business, (b) the assumption in one or a series of transactions, including by operation of Legal Requirements, by SpinCo of all
of the liabilities of Parent associated with Parent&rsquo;s custom hydrogels business and (c) the pro rata distribution to the
holders of Parent Common Stock prior to the Effective Time of SpinCo common stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">An Entity will be deemed to be a &ldquo;<B><I>Subsidiary</I></B>&rdquo;
of another Person if such Person directly or indirectly owns, beneficially or of record, (a) an amount of voting securities of
or other interests in such Entity that is sufficient to enable such Person to elect at least a majority of the members of such
Entity&rsquo;s board of directors or other governing body, or (b) at least 50% of the outstanding equity or financial interests
of such Entity.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Tax</I></B>&rdquo; and &ldquo;<B><I>Taxes</I></B>&rdquo;
mean any federal, state, local, or non-U.S. income, gross receipts, license, payroll, employment, excise, escheat, severance, stamp,
occupation, premium, windfall profits, customs duties, capital stock, franchise, profits, withholding, social security (or similar),
unemployment, disability, real property, personal property, sales, use, transfer, registration, value added, alternative or add-on
minimum, estimated, or other tax of any kind whatsoever, including any interest, penalty, or addition thereto, whether disputed
or not and including any obligations to indemnify or otherwise assume or succeed to the Tax liability of any other Person.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Tax Return</I></B>&rdquo; means any return, declaration,
report, claim for refund, or information return or statement relating to Taxes, including any schedule or attachment thereto, and
including any amendment thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Total Outstanding Shares</I></B>&rdquo; means the
quotient of (a) the Parent Outstanding Shares <I>divided</I> by (b) 0.13.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Trade Secrets</I></B>&rdquo; mean trade secrets,
know-how, proprietary information, inventions, discoveries, improvements, technology, technical data and research and development,
whether patentable or not.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Trademark Rights</I></B>&rdquo; mean all material
common law trademarks, registered trademarks, applications for registration of trademarks, material common law service marks, registered
service marks, applications for registration of service marks, trade names, registered trade names and applications for registration
of trade names, and Internet domain name registrations; and including all filings with the applicable Governmental Body indicating
an intent to use any of the foregoing if not registered or subject to a pending application.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Transaction Costs</I></B>&rdquo; means the aggregate
amount of costs and expenses of a Person or any of its Subsidiaries incurred in connection with the negotiation, preparation and
execution of this Agreement and the consummation of the Transactions, including (a) any brokerage fees and commissions, finders&rsquo;
fees or financial advisory fees, any fees and expenses of counsel or accountants payable by such Person or any of its Subsidiaries
and any transaction bonuses or similar items in connection with the Transactions, (b) any bonus, severance, change-in-control payments
or similar payment obligations (including payments with &ldquo;single-trigger&rdquo; provisions triggered at and as of the consummation
of the Transactions) that become due or payable to any director, officer, employee or consultant of such Person in connection with
the consummation of the Transactions, (c) any payments to third parties under any Contract to which such Person or its Subsidiaries
are a party triggered by the consummation of the Transactions, or any payment or consideration arising under or in relation to
obtaining any consents, waivers or approvals of any third party under any Contract to which such Person or its Subsidiaries are
a party required to be obtained in connection with the consummation of the Transactions in order for any such Contract to remain
in full force and effect following the Closing or resulting from agreed-upon modification or early termination of any such Contract,
in each case with respect to the foregoing matters (a)-(c), to the extent unpaid; <I>provided</I>, Parent and Company shall share
equally all out of pocket costs and expenses, other than attorneys&rsquo;, accountants&rsquo; and other similar service provider&rsquo;s
fees and expenses, incurred in relation to (i) the filings by the Parties under any filing requirement under the HSR Act and any
foreign antitrust Legal Requirement applicable to this Agreement and the Transactions; (ii) the filing with the SEC of the preliminary
and definitive Proxy Statement (including any financial statements and exhibits), including printer fees, and any amendments or
supplements thereto, and the printing and delivery of such documents to the Parties&rsquo; stockholders; and (iii) any fees incurred
in connection with obtaining Nasdaq approval for the merger, the name and ticker symbol changes, and the listing of the shares
of Parent Common Stock to be issued, to the extent contemplated by this Agreement. For the avoidance of doubt, all fees and costs
incurred in connection with the Spin-Off and in obtaining the Spin-Off Valuation shall be borne by Parent.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Voting Agreement Signatories</I></B>&rdquo; mean:&nbsp;&nbsp;(a)
means those Persons set forth on <B><U>Schedule B</U></B>; and (b) each of the directors and officers of Company and Parent.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Working Capital</I></B>&rdquo; means the (a) the
current assets of Parent, as of the Closing, calculated in accordance with GAAP applied on a basis consistent with the application
thereof to the most recent audited financial statements included in the Parent SEC Documents, excluding Closing Parent Cash and
deferred tax assets, <I>minus</I> (b) the current liabilities of Parent, as of the Closing, calculated in accordance with GAAP
applied on a basis consistent with the application thereof to the most recent audited financial statements included in the Parent
SEC Documents, excluding deferred tax liabilities, Indebtedness and Transaction Costs.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;<B><I>Yardley Lease</I></B>&rdquo; means that certain
Agreement of Lease, dated as of August 14, 2014, by and between Parent and Lower Makefield Investor LLC, as supplemented by that
certain Confirmation of Lease Term, dated as of February 15, 2016.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Additionally, the following terms have the meanings assigned
to such terms in the Sections of this Agreement set forth below opposite such term:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 63%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Defined Word</B></FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 35%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Section of Agreement</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Acceptable Company Confidentiality Agreement</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 5.12(a)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Acceptable Parent Confidentiality Agreement</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 5.13(a)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Agreement</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Preamble</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Allocation Certificate</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 5.19</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Certificate of Merger</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 1.02</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Certifications</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 3.05(a)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Closing Date</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 1.02</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Closing</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 1.02</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Code</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Recitals</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Commercialized</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 2.09(e)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Company Appointees</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 5.11(a)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Company Balance Sheet</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 2.05(a)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;Company Change in Recommendation&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 5.02(d)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Company Contract</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 2.16(b)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Company Disclosure Schedule</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Exhibit A</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Company Employee Plans</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 2.12(a)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Company Environmental Permits</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 2.14(c)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Company Financials</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 2.05(a)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Company Insurance Policy</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 2.18(a)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Company Lookback Date</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 2.05(c)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Company Owned IP Rights</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 2.08</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Company Permits</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 2.09(b)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Company Stock Certificate</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 1.09</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Company Stockholder Matters</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 5.02(a)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Company Stockholder Written Consent</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 5.02(a)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Company Vote Deadline</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 5.02(a)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Company Voting Agreements</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Recitals</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Company</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Preamble</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Confidentiality Agreement</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 5.04</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>D&amp;O Indemnified Party</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 5.06(a)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Delaware Law</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 1.01</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Dissenting Shares</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 1.07</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Effective Time</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 1.02</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>ERISA Affiliate</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 2.12(a)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>ERISA</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 2.12(a)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Exchange Act</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 2.03(d)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Exchange Agent</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 1.08(a)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Exchange Fund</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 1.08(a)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>GAAP</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 2.05(a)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Hazardous Material Activities</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 2.14(b)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Hazardous Material</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 2.14(a)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>knowledge of Company</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 8.15(g)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>knowledge of Parent</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 8.15(g)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Liability</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 2.05(d)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Lock-up Agreements</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Recitals</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Merger Consideration</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 1.06(a)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 63%"><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Merger Sub</I></B>&rdquo;</FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 35%"><FONT STYLE="font-size: 10pt">Preamble</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Merger</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Recitals</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Nasdaq Listing Application</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 5.25</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Parent Board Recommendation</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 5.03(b)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Parent Certificate</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 5.19(d)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Parent Change in Recommendation</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 5.03(c)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Parent Charter Amendment</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 3.03(a)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Parent Common Stock</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 1.06(a)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Parent Contract</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 3.15(b)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Parent Employee Plans</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 3.12(a)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Parent Environmental Permits</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 3.14(c)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Parent Financials</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 3.05(f)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Parent Insurance Policy</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 3.16(a)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Parent Lookback Date</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 3.05(a)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Parent Option</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 3.02(b)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Parent Owned IP Rights</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 3.08</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Parent Permits</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 3.09(b)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Parent Preferred Stock</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 3.02(a)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Parent SEC Documents</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 3.05(a)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Parent Stockholder Approval Matters</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 5.03(a)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Parent Stockholder Approval</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 3.03(a)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Parent Stockholders&rsquo; Meeting</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 5.03(a)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Parent Voting Agreements</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Recitals</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Parent</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Preamble</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Party</I></B>&rdquo; or &ldquo;<B><I>Parties</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Preamble</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Post-Closing Plans</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 5.20</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Pre-Closing Period</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 4.01</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Regulatory Authorities</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 2.09(i)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Company Stockholder Approval</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 2.03(a)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Reverse Split </I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 5.23</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>SEC</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 2.03(d)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>SEC Website</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 3.05(a)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Securities Act</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 3.05(a)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Spin-Off Valuation</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 5.29</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Stockholder Notice</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 5.02(b)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Surviving Corporation</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 1.01</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Termination Fee</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Section 7.03(b)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Transactions</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Recitals</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&ldquo;<B><I>Voting Agreements</I></B>&rdquo;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Recitals</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Schedule A &ndash; Lock-up Agreement
Signatories</B></P>

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">TPG Biotechnology Partners IV, L.P.</P>

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

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

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


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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">TPG Biotechnology Partners IV, L.P.&nbsp;</P>

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


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<DOCUMENT>
<TYPE>EX-2.2
<SEQUENCE>3
<FILENAME>tv504690_ex2-2.htm
<DESCRIPTION>EXHIBIT 2.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"><FONT STYLE="text-transform: none">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: right"><FONT STYLE="text-transform: none">Exhibit
2.2</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: right"><FONT STYLE="text-transform: none">&nbsp;</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">This VOTING AGREEMENT
(this &ldquo;<U>Agreement</U>&rdquo;) is entered into as of October 11, 2018, between Alliqua Biomedical Inc., a Delaware corporation
(&ldquo;<U>Parent</U>&rdquo;) and the undersigned (the &ldquo;<U>Stockholder</U>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, as of the date
hereof, the Stockholder is the sole record and beneficial owner of and has the sole power to vote (or to direct the voting of)
the number of shares of common stock, par value $0.001 per share (the &ldquo;<U>Common Shares</U>&rdquo;) of Parent, set forth
opposite the Stockholder&rsquo;s name on <U>Schedule I</U> hereto (such Common Shares together with any other shares of Parent
(&ldquo;<U>Shares</U>&rdquo;) the voting power of which is acquired by such Stockholder during the period from the date hereof
through the date on which this Agreement is terminated in accordance with its terms (such period, the &ldquo;<U>Voting Period</U>&rdquo;),
are collectively referred to herein as the &ldquo;<U>Subject Shares</U>&rdquo;);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, Adynxx, Inc.
(&ldquo;<U>Company</U>&rdquo;), Parent, Embark Merger Sub Inc., a Delaware corporation and a wholly-owned subsidiary of Parent
(&ldquo;<U>Merger Sub</U>&rdquo;) are concurrently entering into an agreement and plan of merger, dated as of the date hereof (as
amended from time to time, the &ldquo;<U>Merger Agreement</U>&rdquo;), pursuant to which Merger Sub shall be merged with and into
the Company, with the Company continuing as the surviving corporation thereafter (the &ldquo;<U>Merger</U>&rdquo;);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, the adoption
of the Merger Agreement requires the affirmative vote of the holders of a majority in voting power of the outstanding shares of
Parent Common Stock outstanding on the applicable record date; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, as an inducement
to Parent&rsquo;s willingness to enter into the Merger Agreement and consummate the transactions contemplated thereby, transactions
from which the Stockholder believes it will derive substantial benefits through its ownership interest in the Company, the Stockholder
is entering into this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">NOW, THEREFORE, in consideration
of the foregoing and the respective representations, warranties, covenants and agreements set forth herein, the parties agree as
follows:</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in; color: #010000">ARTICLE
I</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
1.1&#9;</FONT><U>Capitalized Terms</U>. For purposes of this Agreement, capitalized terms used and not defined herein shall have
the respective meanings ascribed to them in the Merger Agreement.</P>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #010000"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in; color: #010000">ARTICLE
II</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">VOTING
AGREEMENT AND IRREVOCABLE PROXY</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
2.1&#9;</FONT><U>Agreement to Vote</U>. The Stockholder hereby agrees that, during the Voting Period, and at any duly called meeting
of the stockholders of Parent (or any adjournment or postponement thereof), or in any other circumstances (including action by
written consent of stockholders in lieu of a meeting) upon which a vote, adoption or other approval or consent with respect to
the adoption of the Merger Agreement or the approval of the Merger and any of the transactions contemplated thereby is sought,
the Stockholder shall, if a meeting is held, appear at the meeting, in person or by proxy, and shall provide a written consent
or vote (or cause to be voted), in person or by proxy, all its Subject Shares, in each case (i) in favor of (A) any proposal to
adopt and approve or reapprove the Merger Agreement and the other transactions contemplated thereby and (B) waiving any notice
that may have been or may be required relating to the Merger or any of the other transactions contemplated by the Merger Agreement,
and (ii) against (X) any Acquisition Proposal and any action in furtherance of any such Acquisition Proposal and (Y) any action,
proposal, transaction or agreement that, to the knowledge of the Stockholder, would reasonably be expected to result in a material
breach of any covenant, representation or warranty or any other obligation or agreement of the Stockholder under this Agreement.
As used herein, the term &ldquo;<U>Expiration Time</U>&rdquo; shall mean the earliest occurrence of (A) the Effective Time, (B)
the date and time of the valid termination of the Merger Agreement in accordance with its terms, and the term &ldquo;<U>Voting
Period</U>&rdquo; shall mean such period of time between the date hereof and the Expiration Time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
2.2&#9;</FONT><U>Grant of Irrevocable Proxy</U>. The Stockholder hereby appoints Parent and any designee of Parent, and each of
them individually, as the Stockholder&rsquo;s proxy, with full power of substitution and resubstitution, to vote, including by
executing written consents, during the Voting Period with respect to any and all of the Subject Shares on the matters and in the
manner specified in <U>Section&nbsp;2.1</U>. The Stockholder shall take all further action or execute such other instruments as
may be necessary to effectuate the intent of any such proxy. The Stockholder affirms that the irrevocable proxy given by it hereby
with respect to the Merger Agreement and the transactions contemplated thereby is given to Parent by the Stockholder to secure
the performance of the obligations of the Stockholder under this Agreement. It is agreed that Parent (and its officers on behalf
of Parent) will use the irrevocable proxy that is granted by the Stockholder hereby only in accordance with applicable Legal Requirements
and that, to the extent Parent (and its officers on behalf of Parent) uses such irrevocable proxy, it will only vote (or sign written
consents in respect of) the Subject Shares subject to such irrevocable proxy with respect to the matters specified in, and in accordance
with the provisions of, <U>Section&nbsp;2.1</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
2.3&#9;</FONT><U>Nature of Irrevocable Proxy</U>. The proxy granted pursuant to <U>Section&nbsp;2.2</U> to Parent by the Stockholder
shall be irrevocable during the term of this Agreement, shall be deemed to be coupled with an interest sufficient in law to support
an irrevocable proxy and shall revoke any and all prior proxies or powers of attorney granted by the Stockholder and no subsequent
proxy or power of attorney shall be given or written consent executed (and if given or executed, shall not be effective) by the
Stockholder with respect thereto. The proxy that may be granted hereunder shall terminate upon the termination of this Agreement,
but shall survive the death or incapacity of the Stockholder and any obligation of the Stockholder under this Agreement shall be
binding upon the heirs, personal representatives and successors of the Stockholder.</P>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #010000"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in; color: #010000">ARTICLE
III</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in"><FONT STYLE="text-transform: uppercase">Section
3.1&#9;</FONT><U>Subject Shares</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Stockholder agrees that (i) from the date hereof until the Effective Time, it shall not, and shall not commit or agree to, without
Parent&rsquo;s prior written consent, directly or indirectly, whether by merger, consolidation or otherwise,&nbsp;offer for sale,
sell (including short sales), transfer, tender, pledge, encumber, assign or otherwise dispose of (including by gift or by operation
of law) (collectively, a &ldquo;<U>Transfer</U>&rdquo;), or enter into any contract, option, derivative, hedging or other agreement
or arrangement or understanding (including any profit-sharing arrangement) with respect to, or consent to or permit, a Transfer
of, any or all of the Subject Shares or any interest therein; and (ii) during the Voting Period, it shall not, and shall not commit
or agree to, without Parent&rsquo;s prior written consent, (A) grant any proxies or powers of attorney with respect to any or all
of the Subject Shares or agree to vote (or sign written consents in respect of) the Subject Shares on any matter or divest itself
of any voting rights in the Subject Shares, or (B) take any action that would have the effect of preventing or disabling the Stockholder
from performing its obligations under this Agreement. Notwithstanding the foregoing, the Stockholder may (1)&nbsp; make transfers
or dispositions of the Subject Shares to any member of the immediate family of the Stockholders or to any trust for the direct
or indirect benefit of the Stockholder or the immediate family of the Stockholder, (2)&nbsp;make transfers or dispositions of the
Subject Shares by will, other testamentary document or intestate succession to the legal representative, heir, beneficiary or a
member of the immediate family of the Stockholder, (3)&nbsp;make transfers of the Subject Shares to stockholders, direct or indirect
affiliates (within the meaning set forth in Rule&nbsp;405 under the Securities Act of&nbsp;1933, as amended), current or former
partners (general or limited), members or managers of the Stockholder, as applicable, or to the estates of any such stockholders,
affiliates, partners, members or managers, or to another corporation, partnership, limited liability company or other business
entity that controls, is controlled by or is under common control with the Stockholder, (4)&nbsp;make transfers that occur by operation
of law pursuant to a qualified domestic relations order or in connection with a divorce settlement, (5)&nbsp;make transfers or
dispositions not involving a change in beneficial ownership and (6)&nbsp;if the Stockholder is a trust, make transfers or dispositions
to any beneficiary of the Stockholder or the estate of any such beneficiary. The Stockholder agrees that any Transfer of Subject
Shares not permitted hereby shall be null and void and that any such prohibited Transfer shall be enjoined. If any voluntary or
involuntary transfer of any Subject Shares covered hereby shall occur (including, but not limited to, a sale by the Stockholder&rsquo;s
trustee in bankruptcy, or a sale to a purchaser at any creditor&rsquo;s or court sale), the transferee (which term, as used herein,
shall include any and all transferees and subsequent transferees of the initial transferee) shall take and hold such Subject Shares
subject to all of the restrictions, liabilities and rights under this Agreement, which shall continue in full force and effect.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event of a stock dividend or distribution, or any change in the Subject Shares by reason of any stock dividend or distribution,
split-up, recapitalization, combination, conversion, exchange of shares or the like, the term &ldquo;Subject Shares&rdquo; shall
be deemed to refer to and include the Subject Shares as well as all such stock dividends and distributions and any securities into
which or for which any or all of the Subject Shares may be changed or exchanged or which are received in such transaction. The
Stockholder further agrees that, in the event Stockholder purchases or otherwise acquires beneficial or record ownership of or
an interest in, or acquires the right to vote or share in the voting of, any additional Shares, in each case after the execution
of this Agreement, the Stockholder shall deliver promptly to Parent written notice of such event, which notice shall state the
number of additional Shares so acquired. The Stockholder agrees that any such additional Shares shall be subject to the terms of
this Agreement, including all covenants, agreements, obligations, representations and warranties set forth herein as if those additional
shares were owned by the Stockholder on the date of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
3.2&#9;</FONT><U>Stockholder&rsquo;s Capacity</U>. All agreements and understandings made herein shall be made solely in the Stockholder&rsquo;s
capacity as a holder of the Subject Shares and not in any other capacity.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
3.3&#9;</FONT><U>Other Offers</U>. Except to the extent Parent is permitted to take such action pursuant to the Merger Agreement,
neither the Stockholder (in the Stockholder&rsquo;s capacity as such), shall, nor shall the Stockholder authorize or permit any
of its Representatives to, take any of the following actions: (i) solicit, initiate, knowingly encourage or knowingly facilitate
an Acquisition Proposal, (ii) furnish any non-public information regarding Parent to any Person in connection with or in response
to an Acquisition Proposal, (iii) engage in, enter into, continue or otherwise participate in any discussions or negotiations with
any Person with respect to, or otherwise knowingly cooperate in any way with any person (or any representative thereof) with respect
to, any Acquisition Proposal, (iv) approve, endorse or recommend or propose to approve, endorse or recommend, any Acquisition Proposal
or (v) enter into any letter of intent or similar document or any Contract contemplating, approving, endorsing or recommending
or proposing to approve, endorse or recommend, any Acquisition Transaction or accepting any Acquisition Proposal; provided, however,
that none of the foregoing restrictions shall apply to the Stockholder&rsquo;s and its Representatives&rsquo; interactions with
Parent, Merger Sub and their respective subsidiaries and representatives. Without limiting the foregoing, it is understood that
any violation of the foregoing restrictions by any Representatives of the Stockholder shall be deemed to be a breach of this <U>Section
3.3</U> by the Stockholder. The Stockholder shall, and shall use reasonable best efforts to cause its Representatives to, immediately
cease any and all existing discussions or negotiations with any Persons conducted heretofore with respect to any Acquisition Proposal.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
3.4&#9;</FONT><U>Communications</U>. During the Voting Period, the Stockholder shall not, and shall use its reasonable best efforts
to cause its Representatives, if any, not to, directly or indirectly, make any press release, public announcement or other public
communication that criticizes or disparages this Agreement or the Merger Agreement or any of the transactions contemplated hereby
and thereby, without the prior written consent of Parent, provided that the foregoing shall not limit or affect any actions taken
by the Stockholder (or any affiliated officer or director of Stockholder) that would be permitted to be taken by Stockholder pursuant
to the Merger Agreement. The Stockholder hereby (i) consents to and authorizes the publication and disclosure by Parent, Merger
Sub and the Company (including in any publicly filed documents relating to the Merger or any transaction contemplated by the Merger
Agreement) of: (a) the Stockholder&rsquo;s identity; (b) the Stockholder&rsquo;s beneficial ownership of the Subject Shares; and
(c) the nature of the Stockholder&rsquo;s commitments, arrangements and understandings under this Agreement, and any other information
that Parent, Merger Sub or the Company determines to be necessary in any SEC disclosure document in connection with the Merger
or any transactions contemplated by the Merger Agreement and (ii) agrees as promptly as practicable to notify Parent, Merger Sub
and the Company of any required corrections with respect to any written information supplied by the Stockholder specifically for
use in any such disclosure document.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
3.5&#9;</FONT><U>Voting Trusts</U>. The Stockholder agrees that it will not, nor will it permit any entity under its control to,
deposit any of its Subject Shares in a voting trust or subject any of its Subject Shares to any arrangement with respect to the
voting of such Subject Shares other than as provided herein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
3.6&#9;</FONT><U>Waiver of Appraisal Rights</U>. The Stockholder hereby irrevocably and unconditionally waives, and agrees not
to assert, exercise or perfect (or attempt to exercise, assert or perfect) any rights of appraisal or rights to dissent from the
Merger or quasi-appraisal rights that it may at any time have under applicable Legal Requirements, including Section 262 of the
DGCL. The Stockholder agrees not to commence, join in, facilitate, assist or encourage, and agrees to take all actions necessary
to opt out of any class in any class action with respect to, any claim, derivative or otherwise, against Parent, the Company or
any of their respective successors, directors or officers, (a) challenging the validity, binding nature or enforceability of, or
seeking to enjoin the operation of, this Agreement or the Merger Agreement, or (b) alleging a breach of any fiduciary duty of any
Person in connection with the evaluation, negotiation, entry into or consummation of the Merger Agreement.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in; color: #010000">ARTICLE
IV</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">REPRESENTATIONS
AND WARRANTIES OF STOCKHOLDER</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">The Stockholder hereby
represents and warrants to Parent as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
4.1&#9;</FONT><U>Due Authorization, etc</U>. The Stockholder is a natural person, corporation, limited partnership or limited liability
company. If Stockholder is a corporation, limited partnership or limited liability company, Stockholder is an entity duly organized,
validly existing and in good standing under the laws of the jurisdiction in which it is incorporated, organized or constituted.
The Stockholder has all necessary power and authority to execute and deliver this Agreement and to consummate the transactions
contemplated hereby. The execution and delivery of this Agreement and the consummation of the transactions contemplated hereby
by the Stockholder have been duly authorized by all necessary action on the part of the Stockholder and no other proceedings on
the part of the Stockholder are necessary to authorize this Agreement, or to consummate the transactions contemplated hereby. This
Agreement has been duly executed and delivered by the Stockholder and (assuming the due authorization, execution and delivery by
Parent) constitutes a valid and binding obligation of the Stockholder, enforceable against the Stockholder in accordance with its
terms, except to the extent enforcement is limited by bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and
similar Legal Requirements of general applicability relating to or affecting creditors&rsquo; rights and by general equitable principles.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
4.2&#9;</FONT><U>Ownership of Shares</U>. <U>Schedule I</U> hereto sets forth opposite the Stockholder&rsquo;s name the Shares
over which the Stockholder has sole record and beneficial ownership as of the date hereof. As of the date hereof, the Stockholder
is the lawful owner of the Shares denoted as being owned by the Stockholder on <U>Schedule I</U> hereto, has the sole power to
vote or cause to be voted such Shares and has the sole power to dispose of or cause to be disposed such Shares (other than, if
Stockholder is a partnership or a limited liability company, the rights and interest of persons and entities that own partnership
interests or units in Stockholder under the partnership agreement or operating agreement governing Stockholder and applicable partnership
or limited liability company law, or if Stockholder is a married individual and resides in a state with community property laws,
the community property interest of his or her spouse to the extent applicable under such community property laws, which spouse
hereby consents to this Agreement by executing the spousal consent attached hereto). The Stockholder has, and will at all times
up until the Expiration Time have, good and valid title to the Shares denoted as being owned by the Stockholder on <U>Schedule
I</U> hereto, free and clear of any and all pledges, mortgages, liens, charges, proxies, voting agreements, encumbrances, adverse
claims, options, security interests and demands of any nature or kind whatsoever, other than (i) those created by this Agreement,
or (ii) those existing under applicable securities laws.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
4.3&#9;</FONT><U>No Conflicts</U>. (a)&nbsp;No filing with any Governmental Body, and no authorization, consent or approval of
any other person is necessary for the execution of this Agreement by the Stockholder and (b) none of the execution and delivery
of this Agreement by the Stockholder, the consummation by the Stockholder of the transactions contemplated hereby or compliance
by the Stockholder with any of the provisions hereof shall (i) conflict with or result in any breach of the organizational documents
of the Stockholder, (ii) result in, or give rise to, a violation or breach of or a default under any of the terms of any material
contract, understanding, agreement or other instrument or obligation to which the Stockholder is a party or by which the Stockholder
or any of the Subject Shares or its assets may be bound or (iii) violate any applicable order, writ, injunction, decree, judgment,
statute, rule or regulation, except for any of the foregoing as would not reasonably be expected to impair the Stockholder&rsquo;s
ability to perform its obligations under this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
4.4&#9;</FONT><U>Finder&rsquo;s Fees</U>. No investment banker, broker, finder or other intermediary is entitled to a fee or commission
from Parent, Merger Sub or the Company in respect of this Agreement based upon any Contract made by or on behalf of the Stockholder,
solely in the Stockholder&rsquo;s capacity as a stockholder of Parent.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
4.5&#9;</FONT><U>No Litigation</U>. As of the date of this Agreement, there is no Legal Proceeding pending or, to the knowledge
of the Stockholder, threatened against the Stockholder that would reasonably be expected to impair the ability of the Stockholder
to perform its obligations hereunder or consummate the transactions contemplated hereby.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in; color: #010000">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #010000"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in; color: #010000">ARTICLE
V</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="font-weight: normal; text-transform: none">&nbsp;</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
5.1&#9;</FONT><U>Termination</U>. This Agreement shall automatically terminate, and neither Parent nor the Stockholder shall have
any rights or obligations hereunder and this Agreement shall become null and void and have no effect upon the earliest to occur
of: (a) the Effective Time; and (b) the valid termination of the Merger Agreement in accordance with its terms. The parties acknowledge
that upon termination of this Agreement as permitted under and in accordance with the terms of this <U>Article VI</U>, no party
to this Agreement shall have the right to recover any claim with respect to any losses suffered by such party in connection with
such termination, except that, subject to <U>Section 6.11</U>, the termination of this Agreement shall not relieve either party
to this Agreement from liability for such party&rsquo;s intentional breach of any terms of this Agreement. Notwithstanding anything
to the contrary herein, the provisions of this <U>Article V</U> and <U>Article VI</U> shall survive the termination of this Agreement.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in; color: #010000">ARTICLE
VI</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
6.1&#9;</FONT><FONT STYLE="color: #0C0C0C"><U>Further Actions</U>. </FONT>Subject to the terms and conditions set forth in this
Agreement, <FONT STYLE="color: #0C0C0C">the Stockholder</FONT> agrees to take any all actions and to do all things reasonably necessary
to effectuate this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
6.2&#9;</FONT><U>Fees and Expenses</U>. Except as otherwise specifically provided herein, each party shall bear its own expenses
in connection with this Agreement and the transactions contemplated hereby.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
6.3&#9;</FONT><FONT STYLE="color: #191919"><U>Amendments, Waivers</U></FONT><U>, etc</U>. This Agreement may not be amended except
by an instrument in writing signed by the parties hereto and specifically referencing this Agreement. The failure of any party
to assert any rights or remedies shall not constitute a waiver of such rights or remedies<FONT STYLE="color: #262626">.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
6.4&#9;</FONT><U>Notices</U>. Any notice, request, instruction or other document required to be given hereunder shall be sufficient
if in writing, and sent by confirmed electronic mail transmission of a &ldquo;portable document format&rdquo; (&ldquo;.pdf&rdquo;)
attachment (provided that any notice received by electronic mail transmission or otherwise at the addressee&rsquo;s location on
any business day after 5:00 p.m. (addressee&rsquo;s local time) shall be deemed to have been received at 9:00 a.m. (addressee&rsquo;s
local time) on the next business day), by reliable overnight delivery service (with proof of service), or hand delivery, addressed
as follows:</P>

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


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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0in">2150 Cabot Blvd., West, Suite B</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0in">Langhorne, PA 19047</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0in">Attn: David Johnson<BR>
E-Mail: djohnson@alliqua.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -1in">with a copy to (which shall not
constitute notice):</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0in">Haynes and Boone, LLP<BR>
30 Rockefeller Plaza<BR>
26th Floor<BR>
New York, NY 10112<BR>
Attn.:&#9;Rick A. Werner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Greg Kramer<BR>
E-Mail:&nbsp;&nbsp;rick.werner@haynesboone.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.75in; text-indent: 0in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;greg.kramer@haynesboone.com</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If to the Stockholder, to the address or electronic mail address
set forth on the signature pages hereto, or to such other person or address as any party shall specify by written notice so <FONT STYLE="color: #262626">given</FONT>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
6.5&#9;</FONT><U>Headings</U>. Headings of the Articles and Sections of this Agreement are for convenience of the parties only,
and shall be given no substantive or interpretive effect whatsoever.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
6.6&#9;</FONT><U>Severability</U>. The provisions of this Agreement shall be deemed severable and the invalidity or unenforceability
of any provision shall not affect the validity or enforceability of the other provisions hereof. If any provision of this Agreement,
or the application of such provision to any person or any circumstance, is invalid or unenforceable (a) a suitable and equitable
provision shall be substituted therefor in order to carry out, so far as may be valid and enforceable, the intent and purpose of
such invalid or unenforceable provision and (b) the remainder of this Agreement and the application of such provision to other
persons or circumstances shall not be affected by such invalidity or unenforceability, nor shall such invalidity or unenforceability
affect the validity or enforceability of such provision, or the application of such provision, in any other jurisdiction.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
6.7&#9;</FONT><U>Entire Agreement; Assignment</U>. This Agreement constitutes the entire agreement, and supersedes all other prior
agreements and understandings, both written and oral, between the parties, or any of them, with respect to the subject matter hereof.
Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned by any of the parties hereto
(whether by operation of law or otherwise) without the prior written consent of the other parties, except that without consent
Parent may assign all or any of its rights and obligations hereunder to any of its Affiliates that assume the rights and obligations
of Parent under the Merger Agreement. Subject to the preceding two sentences, this Agreement will be binding upon, inure to the
benefit of and be enforceable by the parties hereto and their respective successors and permitted assigns. Notwithstanding anything
to the contrary set forth herein, the Stockholder agrees that this Agreement and the obligations hereunder shall be binding upon
any Person to which record or beneficial ownership of the Stockholder&rsquo;s Subject Shares shall pass, whether by operation or
law or otherwise, including the Stockholder&rsquo;s heirs, guardians, administrators or successors and assigns, and the Stockholder
agrees to take all actions necessary to effect the foregoing.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
6.8&#9;</FONT><U>Governing Law</U>. THIS AGREEMENT AND ALL QUESTIONS RELATING TO THE INTERPRETATION OR ENFORCEMENT OF THIS AGREEMENT
SHALL BE DEEMED TO BE MADE IN AND IN ALL RESPECTS SHALL BE INTERPRETED, CONSTRUED AND GOVERNED BY AND IN ACCORDANCE WITH THE LAW
OF THE STATE OF DELAWARE WITHOUT REGARD TO THE CONFLICTS OF LAW PRINCIPLES THEREOF TO THE EXTENT THAT SUCH PRINCIPLES WOULD DIRECT
A MATTER TO ANOTHER JURISDICTION.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
6.9&#9;</FONT><U>Specific Performance</U><FONT STYLE="color: #202020">.</FONT> The Stockholder acknowledges that any breach of
this Agreement would give rise to irreparable harm for which monetary damages would not be an adequate remedy and each of the Company
and Parent shall be entitled to a decree of specific performance and to temporary, preliminary and permanent injunctive relief
to prevent breaches or threatened breaches of any of the provisions of this Agreement, without the necessity of proving the inadequacy
of monetary damages as a remedy, which shall be the sole and exclusive remedy for any such breach.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
6.10&#9;</FONT><U>Submission to Jurisdiction</U>. The parties hereby irrevocably submit to the exclusive personal jurisdiction
of the Court of Chancery of the State of Delaware, or, if the Chancery Court declines jurisdiction, the United States District
Court for the District of Delaware or the courts of the State of Delaware solely in respect of the interpretation and enforcement
of the provisions of this Agreement and hereby waive, and agree not to assert, as a defense in any action, suit or proceeding for
the interpretation or enforcement hereof, that it is not subject thereto or that such action, suit or proceeding may not be brought
or is not maintainable in said courts or that the venue thereof may not be appropriate or that this Agreement may not be enforced
in or by such courts, and the parties hereto irrevocably agree that all claims relating to such action, suit or proceeding shall
be heard and determined in such courts. The parties hereby consent to and grant any such court jurisdiction over the person of
such parties and, to the extent permitted by law, over the subject matter of such dispute and agree that mailing of process or
other papers in connection with any such action or proceeding in the manner provided in <U>Section 7.4</U> or in such other manner
as may be permitted by Legal Requirements shall be valid and sufficient service thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
6.11&#9;</FONT><U>Waiver of Jury Trial</U>. EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS
AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY
WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING
TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (i) NO REPRESENTATIVE,
AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF
LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (ii) EACH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER,
(iii) EACH PARTY MAKES THIS WAIVER VOLUNTARILY, AND (iv) EACH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER
THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS <U>SECTION 7.13</U>.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
6.12&#9;</FONT><U>Counterparts</U>. This Agreement may be executed in two or more counterparts (including by facsimile transmission
or other means of electronic transmission, such as by electronic mail in &ldquo;pdf&rdquo; form), each of which shall be an original,
with the same effect as if the signatures thereto and hereto were upon the same instrument, and shall become effective when one
or more counterparts have been signed by each of the parties and delivered (by facsimile or otherwise) to the other parties.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in; text-align: justify">IN WITNESS WHEREOF, Parent and the Stockholder
have caused this Agreement to be duly executed as of the day and year first above written.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>ALLIQUA BIOMEDICAL, INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 45%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><B>[STOCKHOLDER]</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Address:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Electronic Mail Address:</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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

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


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">I ____________________, spouse of ____________________, having
the legal capacity, power and authority to do so, hereby confirm that I have read and approve the foregoing the Voting Agreement
(the &ldquo;<B><I>Agreement</I></B>&rdquo;).&nbsp;&nbsp;In consideration of the terms and conditions as set forth in the Agreement,
I hereby appoint my spouse as my attorney in fact with respect to the exercise of any rights and obligations under the Agreement,
and agree to be bound by the provisions of the Agreement insofar as I may have any rights or obligations in the Agreement under
the community property laws of the State of California or similar laws relating to marital or community property in effect in the
state of our residence as of the date of the Agreement.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Name:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Date:</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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

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

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Schedule I</B><BR>
<B><U>Ownership of Common Shares</U></B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 85%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%; border-bottom: Black 1pt solid"><B>Name and Address of Stockholder</B></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 49%; border-bottom: Black 1pt solid; text-align: center"><B>Number of Common Shares</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>[<FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT>]</TD>
    <TD>&nbsp;</TD>
    <TD>[<FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT>]</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-2.3
<SEQUENCE>4
<FILENAME>tv504690_ex2-3.htm
<DESCRIPTION>EXHIBIT 2.3
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"><FONT STYLE="text-transform: none">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: right"><FONT STYLE="text-transform: none">Exhibit
2.3</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: right"><FONT STYLE="text-transform: none">&nbsp;</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">This VOTING AGREEMENT
(this &ldquo;<U>Agreement</U>&rdquo;) is entered into as of October 11, 2018, between Adynxx, Inc., a Delaware corporation (&ldquo;<U>Company</U>&rdquo;),
and the undersigned (the &ldquo;<U>Stockholder</U>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, as of the date
hereof, the Stockholder is the sole record and beneficial owner of and has the sole power to vote (or to direct the voting of)
the number of shares of Company Common Stock, par value $0.001 per share (the &ldquo;<U>Common Shares</U>&rdquo;) and, if applicable,
the number of shares of Company Preferred Stock, par value $0.001 per share (the &ldquo;<U>Preferred Shares</U>&rdquo;) of Company,
set forth opposite the Stockholder&rsquo;s name on <U>Schedule I</U> hereto (such Common Shares and Preferred Shares, together
with any other shares of the Company (&ldquo;<U>Shares</U>&rdquo;) the voting power of which is acquired by such Stockholder during
the period from the date hereof through the date on which this Agreement is terminated in accordance with its terms (such period,
the &ldquo;<U>Voting Period</U>&rdquo;), are collectively referred to herein as the &ldquo;<U>Subject Shares</U>&rdquo;);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, the Company,
Parent, Embark Merger Sub Inc., a Delaware corporation and a wholly-owned subsidiary of Parent (&ldquo;<U>Merger Sub</U>&rdquo;)
are concurrently entering into an agreement and plan of merger, dated as of the date hereof (as amended from time to time, the
 &ldquo;<U>Merger Agreement</U>&rdquo;), pursuant to which Merger Sub shall be merged with and into the Company, with the Company
continuing as the surviving corporation thereafter (the &ldquo;<U>Merger</U>&rdquo;);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, the adoption
of the Merger Agreement requires the written consent or affirmative vote of the holders of a (i) majority in voting power of all
Company Capital Stock voting together on an as converted to Common Share basis and (ii) a majority of the voting power of all Company
Preferred Stock voting together on an as converted to Common Shares basis, entitled to vote thereon; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, as an inducement
to Company&rsquo;s willingness to enter into the Merger Agreement and consummate the transactions contemplated thereby, transactions
from which the Stockholder believes it will derive substantial benefits through its ownership interest in the Company, the Stockholder
is entering into this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">NOW, THEREFORE, in consideration
of the foregoing and the respective representations, warranties, covenants and agreements set forth herein, the parties agree as
follows:</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in; color: #010000">ARTICLE
I</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
1.1&#9;</FONT><U>Capitalized Terms</U>. For purposes of this Agreement, capitalized terms used and not defined herein shall have
the respective meanings ascribed to them in the Merger Agreement.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #010000"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in; color: #010000">ARTICLE
II</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">VOTING
AGREEMENT AND IRREVOCABLE PROXY</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
2.1&#9;</FONT><U>Agreement to Vote</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">The
Stockholder hereby agrees that, immediately following the earlier to occur of (i) confirmation by the SEC that it has no further
comments on the Proxy Statement or (ii) expiration of the 10-day waiting period contemplated by Rule 14a-6(a) promulgated under
the Exchange Act, the Stockholder shall execute and deliver, or cause to be executed and delivered, to Company, a written consent
in the form of <U>Exhibit A</U> hereto (a &ldquo;<U>Written Consent</U>&rdquo;). The Written Consent shall be coupled with an interest
and shall be irrevocable. As used herein, the term &ldquo;<U>Expiration Time</U>&rdquo; shall mean the earliest occurrence of (A)
the Effective Time and (B) the date and time of the valid termination of the Merger Agreement in accordance with its terms, and
the term &ldquo;<U>Voting Period</U>&rdquo; shall mean such period of time between the date hereof and the Expiration Time.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">The
Stockholder hereby agrees that, during the Voting Period, and at any duly called meeting of the stockholders of the Company (or
any adjournment or postponement thereof), or in any other circumstances (including action by written consent of stockholders in
lieu of a meeting) upon which a vote, adoption or other approval or consent with respect to the adoption of the Merger Agreement
or the approval of the Merger and any of the transactions contemplated thereby is sought, the Stockholder shall, if a meeting is
held, appear at the meeting, in person or by proxy, and shall provide a written consent or vote (or cause to be voted), in person
or by proxy, all its Subject Shares, in each case (i) in favor of (A) any proposal to adopt and approve or reapprove the Merger
Agreement and the other transactions contemplated thereby and (B) waiving any notice that may have been or may be required relating
to the Merger or any of the other transactions contemplated by the Merger Agreement, and (ii) against (X) any Acquisition Proposalor
(Y) any action, proposal, transaction or agreement that, to the knowledge of the Stockholder, would reasonably be expected to result
in a material breach of any covenant, representation or warranty or any other obligation or agreement of the Stockholder under
this Agreement.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
2.2&#9;</FONT><U>Grant of Irrevocable Proxy</U>. The Stockholder hereby appoints Company and any designee of Company, and each
of them individually, as the Stockholder&rsquo;s proxy, with full power of substitution and resubstitution, to vote, including
by executing written consents, during the Voting Period with respect to any and all of the Subject Shares on the matters and in
the manner specified in <U>Section&nbsp;2.1</U>; provided, however, that the Stockholders&rsquo; grant of the proxy contemplated
by this <U>Section 2.2</U> shall be effective with respect to <U>Section 2.1(a)</U> if, and only if, the Stockholder does not deliver
the Written Consent immediately following the earlier to occur of (i) confirmation by the SEC that it has no further comments on
the Proxy Statement or (ii) expiration of the 10-day waiting period contemplated by Rule 14a-6(a) promulgated under the Exchange
Act. The Stockholder shall take all further action or execute such other instruments as may be necessary to effectuate the intent
of any such proxy. The Stockholder affirms that the irrevocable proxy given by it hereby with respect to the Merger Agreement and
the transactions contemplated thereby is given to Company by the Stockholder to secure the performance of the obligations of the
Stockholder under this Agreement. It is agreed that Company (and its officers on behalf of Company) will use the irrevocable proxy
that is granted by the Stockholder hereby only in accordance with applicable Legal Requirements and that, to the extent Company
(and its officers on behalf of Company) uses such irrevocable proxy, it will only vote (or sign written consents in respect of)
the Subject Shares subject to such irrevocable proxy with respect to the matters specified in, and in accordance with the provisions
of, <U>Section&nbsp;2.1</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
2.3&#9;</FONT><U>Nature of Irrevocable Proxy</U>. The proxy granted pursuant to <U>Section&nbsp;2.2</U> to Company by the Stockholder
shall be irrevocable during the term of this Agreement, shall be deemed to be coupled with an interest sufficient in law to support
an irrevocable proxy and shall revoke any and all prior proxies or powers of attorney granted by the Stockholder and no subsequent
proxy or power of attorney shall be given or written consent executed (and if given or executed, shall not be effective) by the
Stockholder with respect thereto. The proxy that may be granted hereunder shall terminate upon the termination of this Agreement,
but shall survive the death or incapacity of the Stockholder and any obligation of the Stockholder under this Agreement shall be
binding upon the heirs, personal representatives and successors of the Stockholder.</P>

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


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #010000"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in; color: #010000">ARTICLE
III</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in"><FONT STYLE="text-transform: uppercase">Section
3.1&#9;</FONT><U>Subject Shares</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">The
Stockholder agrees that (i) from the date hereof until the Effective Time, it shall not, and shall not commit or agree to, without
Company&rsquo;s prior written consent, directly or indirectly, whether by merger, consolidation or otherwise,&nbsp;offer for sale,
sell (including short sales), transfer, tender, pledge, encumber, assign or otherwise dispose of (including by gift or by operation
of law) (collectively, a &ldquo;<U>Transfer</U>&rdquo;), or enter into any contract, option, derivative, hedging or other agreement
or arrangement or understanding (including any profit-sharing arrangement) with respect to, or consent to or permit, a Transfer
of, any or all of the Subject Shares or any interest therein; and (ii) during the Voting Period, it shall not, and shall not commit
or agree to, without Company&rsquo;s prior written consent, (A) grant any proxies or powers of attorney with respect to any or
all of the Subject Shares or agree to vote (or sign written consents in respect of) the Subject Shares on any matter or divest
itself of any voting rights in the Subject Shares, or (B) take any action that would have the effect of preventing or disabling
the Stockholder from performing its obligations under this Agreement. Notwithstanding the foregoing, the Stockholder may (1)&nbsp;
make transfers or dispositions of the Subject Shares to any member of the immediate family of the Stockholders or to any trust
for the direct or indirect benefit of the Stockholder or the immediate family of the Stockholder, (2)&nbsp;make transfers or dispositions
of the Subject Shares by will, other testamentary document or intestate succession to the legal representative, heir, beneficiary
or a member of the immediate family of the Stockholder, (3)&nbsp;make transfers of the Subject Shares to stockholders, direct or
indirect affiliates (within the meaning set forth in Rule&nbsp;405 under the Securities Act of&nbsp;1933, as amended), current
or former partners (general or limited), members or managers of the Stockholder, as applicable, or to the estates of any such stockholders,
affiliates, partners, members or managers, or to another corporation, partnership, limited liability company or other business
entity that controls, is controlled by or is under common control with the Stockholder, (4)&nbsp;make transfers that occur by operation
of law pursuant to a qualified domestic relations order or in connection with a divorce settlement, (5)&nbsp;make transfers or
dispositions not involving a change in beneficial ownership and (6)&nbsp;if the Stockholder is a trust, make transfers or dispositions
to any beneficiary of the Stockholder or the estate of any such beneficiary. The Stockholder agrees that any Transfer of Subject
Shares not permitted hereby shall be null and void and that any such prohibited Transfer shall be enjoined. If any voluntary or
involuntary transfer of any Subject Shares covered hereby shall occur (including, but not limited to, a sale by the Stockholder&rsquo;s
trustee in bankruptcy, or a sale to a purchaser at any creditor&rsquo;s or court sale), the transferee (which term, as used herein,
shall include any and all transferees and subsequent transferees of the initial transferee) shall take and hold such Subject Shares
subject to all of the restrictions, liabilities and rights under this Agreement, which shall continue in full force and effect.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">In
the event of a stock dividend or distribution, or any change in the Subject Shares by reason of any stock dividend or distribution,
split-up, recapitalization, combination, conversion, exchange of shares or the like, the term &ldquo;Subject Shares&rdquo; shall
be deemed to refer to and include the Subject Shares as well as all such stock dividends and distributions and any securities into
which or for which any or all of the Subject Shares may be changed or exchanged or which are received in such transaction. The
Stockholder further agrees that, in the event Stockholder purchases or otherwise acquires beneficial or record ownership of or
an interest in, or acquires the right to vote or share in the voting of, any additional Shares, in each case after the execution
of this Agreement, the Stockholder shall deliver promptly to Company written notice of such event, which notice shall state the
number of additional Shares so acquired. The Stockholder agrees that any such additional Shares shall be subject to the terms of
this Agreement, including all covenants, agreements, obligations, representations and warranties set forth herein as if those additional
shares were owned by the Stockholder on the date of this Agreement.</FONT></P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
3.2&#9;</FONT><U>Stockholder&rsquo;s Capacity</U>. All agreements and understandings made herein shall be made solely in the Stockholder&rsquo;s
capacity as a holder of the Subject Shares and not in any other capacity.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
3.3&#9;</FONT><U>Other Offers</U>. Except to the extent the Company is permitted to take such action pursuant to the Merger Agreement,
neither the Stockholder (in the Stockholder&rsquo;s capacity as such), shall, nor shall the Stockholder authorize or permit any
of its Representatives to, take any of the following actions: (i) solicit, initiate, knowingly encourage or knowingly facilitate
an Acquisition Proposal, (ii) furnish any non-public information regarding the Company to any Person in connection with or in response
to an Acquisition Proposal, (iii) engage in, enter into, continue or otherwise participate in any discussions or negotiations with
any Person with respect to, or otherwise knowingly cooperate in any way with any person (or any representative thereof) with respect
to, any Acquisition Proposal, (iv) approve, endorse or recommend or propose to approve, endorse or recommend, any Acquisition Proposal
or (v) enter into any letter of intent or similar document or any Contract contemplating, approving, endorsing or recommending
or proposing to approve, endorse or recommend, any Acquisition Transaction or accepting any Acquisition Proposal; provided, however,
that none of the foregoing restrictions shall apply to the Stockholder&rsquo;s and its Representatives&rsquo; interactions with
Company and its respective subsidiaries and representatives. Without limiting the foregoing, it is understood that any violation
of the foregoing restrictions by any Representatives of the Stockholder shall be deemed to be a breach of this <U>Section 3.3</U>
by the Stockholder. The Stockholder shall, and shall use reasonable best efforts to cause its Representatives to, immediately cease
any and all existing discussions or negotiations with any Persons conducted heretofore with respect to any Acquisition Proposal.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
3.4&#9;</FONT><U>Voting Trusts</U>. The Stockholder agrees that it will not, nor will it permit any entity under its control to,
deposit any of its Subject Shares in a voting trust or subject any of its Subject Shares to any arrangement with respect to the
voting of such Subject Shares other than as provided herein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
3.5&#9;</FONT><U>Waiver of Appraisal Rights</U>. The Stockholder hereby irrevocably and unconditionally waives, and agrees
not to assert, exercise or perfect (or attempt to exercise, assert or perfect) any rights of appraisal or rights to dissent
from the Merger or quasi-appraisal rights that it may at any time have under applicable Legal Requirements, including Section
262 of the DGCL.</P>

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


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #010000"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in; color: #010000">ARTICLE
IV</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">REPRESENTATIONS
AND WARRANTIES OF STOCKHOLDER</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">The Stockholder hereby
represents and warrants to Company as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
4.1&#9;</FONT><U>Due Authorization, etc</U>. The Stockholder is a natural person, corporation, limited partnership or limited liability
company. If the Stockholder is a corporation, limited partnership or limited liability company, Stockholder is an entity duly organized,
validly existing and in good standing under the laws of the jurisdiction in which it is incorporated, organized or constituted.
The Stockholder has all necessary power and authority to execute and deliver this Agreement and to consummate the transactions
contemplated hereby. The execution and delivery of this Agreement and the consummation of the transactions contemplated hereby
by the Stockholder have been duly authorized by all necessary action on the part of the Stockholder and no other proceedings on
the part of the Stockholder are necessary to authorize this Agreement, or to consummate the transactions contemplated hereby. This
Agreement has been duly executed and delivered by the Stockholder and (assuming the due authorization, execution and delivery by
Company) constitutes a valid and binding obligation of the Stockholder, enforceable against the Stockholder in accordance with
its terms, except to the extent enforcement is limited by bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium
and similar Legal Requirements of general applicability relating to or affecting creditors&rsquo; rights and by general equitable
principles.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
4.2&#9;</FONT><U>Ownership of Shares</U>. <U>Schedule I</U> hereto sets forth opposite the Stockholder&rsquo;s name the Shares
over which the Stockholder has sole record and beneficial ownership as of the date hereof. As of the date hereof, the Stockholder
is the lawful owner of the Shares denoted as being owned by the Stockholder on <U>Schedule I</U> hereto, has the sole power to
vote or cause to be voted such Shares and has the sole power to dispose of or cause to be disposed such Shares (other than, if
Stockholder is a partnership or a limited liability company, the rights and interest of persons and entities that own partnership
interests or units in Stockholder under the partnership agreement or operating agreement governing Stockholder and applicable partnership
or limited liability company law, or if Stockholder is a married individual and resides in a state with community property laws,
the community property interest of his or her spouse to the extent applicable under such community property laws, which spouse
hereby consents to this Agreement by executing the spousal consent attached hereto). The Stockholder has, and will at all times
up until the Expiration Time have, good and valid title to the Shares denoted as being owned by the Stockholder on <U>Schedule
I</U> hereto, free and clear of any and all pledges, mortgages, liens, charges, proxies, voting agreements, encumbrances, adverse
claims, options, security interests and demands of any nature or kind whatsoever, other than (i) those created by this Agreement,
or (ii) those existing under applicable securities laws.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
4.3&#9;</FONT><U>No Conflicts</U>. (a)&nbsp;No filing with any Governmental Body, and no authorization, consent or approval of
any other person is necessary for the execution of this Agreement by the Stockholder and (b) none of the execution and delivery
of this Agreement by the Stockholder, the consummation by the Stockholder of the transactions contemplated hereby or compliance
by the Stockholder with any of the provisions hereof shall (i) conflict with or result in any breach of the organizational documents
of the Stockholder, (ii) result in, or give rise to, a violation or breach of or a default under any of the terms of any material
contract, understanding, agreement or other instrument or obligation to which the Stockholder is a party or by which the Stockholder
or any of the Subject Shares or its assets may be bound or (iii) violate any applicable order, writ, injunction, decree, judgment,
statute, rule or regulation, except for any of the foregoing as would not reasonably be expected to impair the Stockholder&rsquo;s
ability to perform its obligations under this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
4.4&#9;</FONT><U>Finder&rsquo;s Fees</U>. No investment banker, broker, finder or other intermediary is entitled to a fee or commission
from Parent, Merger Sub or the Company in respect of this Agreement based upon any Contract made by or on behalf of the Stockholder,
solely in the Stockholder&rsquo;s capacity as a stockholder of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
4.5&#9;</FONT><U>No Litigation</U>. As of the date of this Agreement, there is no Legal Proceeding pending or, to the knowledge
of the Stockholder, threatened against the Stockholder that would reasonably be expected to impair the ability of the Stockholder
to perform its obligations hereunder or consummate the transactions contemplated hereby.</P>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #010000"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in; color: #010000">ARTICLE
V</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
5.1&#9;</FONT><U>Termination</U>. This Agreement shall automatically terminate, and neither Company nor the Stockholder shall have
any rights or obligations hereunder and this Agreement shall become null and void and have no effect upon the earliest to occur
of: (a) the Effective Time; and (b) the valid termination of the Merger Agreement in accordance with its terms. The parties acknowledge
that upon termination of this Agreement as permitted under and in accordance with the terms of this <U>Article VI</U>, no party
to this Agreement shall have the right to recover any claim with respect to any losses suffered by such party in connection with
such termination, except that, subject to <U>Section 6.11</U>, the termination of this Agreement shall not relieve either party
to this Agreement from liability for such party&rsquo;s intentional breach of any terms of this Agreement. Notwithstanding anything
to the contrary herein, the provisions of this <U>Article V</U> and <U>Article VI</U> shall survive the termination of this Agreement.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in; color: #010000">ARTICLE
VI</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
6.1&#9;</FONT><FONT STYLE="color: #0C0C0C"><U>Further Actions</U>. </FONT>Subject to the terms and conditions set forth in this
Agreement, <FONT STYLE="color: #0C0C0C">the Stockholder</FONT> agrees to take any all actions and to do all things reasonably necessary
to effectuate this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
6.2&#9;</FONT><U>Fees and Expenses</U>. Except as otherwise specifically provided herein, each party shall bear its own expenses
in connection with this Agreement and the transactions contemplated hereby.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
6.3&#9;</FONT><FONT STYLE="color: #191919"><U>Amendments, Waivers</U></FONT><U>, etc</U>. This Agreement may not be amended except
by an instrument in writing signed by the parties hereto and specifically referencing this Agreement. The failure of any party
to assert any rights or remedies shall not constitute a waiver of such rights or remedies<FONT STYLE="color: #262626">.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
6.4&#9;</FONT><U>Notices</U>. Any notice, request, instruction or other document required to be given hereunder shall be sufficient
if in writing, and sent by electronic mail transmission of a &ldquo;portable document format&rdquo; (&ldquo;.pdf&rdquo;) attachment
(provided that any notice received by electronic mail transmission or otherwise at the addressee&rsquo;s location on any business
day after 5:00 p.m. (addressee&rsquo;s local time) shall be deemed to have been received at 9:00 a.m. (addressee&rsquo;s local
time) on the next business day), by reliable overnight delivery service (with proof of service), or hand delivery, addressed as
follows:</P>

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


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    <!-- Field: /Page -->

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0in">100 Pine Street, Suite 500</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0in">San Francisco, CA 94111</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0in">Email: rorr@adynxx.com</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -1in">with a copy to (which shall not
constitute notice):</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0in">3175 Hanover Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0in">Palo Alto, CA 94304<BR>
Attention: &#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Laura Medina</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: 1in">&nbsp;John McKenna</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0in">Email: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;lmedina@cooley.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: 1in">&nbsp;jmckenna@cooley.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If to the Stockholder, to the address or electronic mail address
set forth on the signature pages hereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">or to such other person
or address as any party shall specify by written notice so <FONT STYLE="color: #262626">given</FONT>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
6.5&#9;</FONT><U>Headings</U>. Headings of the Articles and Sections of this Agreement are for convenience of the parties only,
and shall be given no substantive or interpretive effect whatsoever.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
6.6&#9;</FONT><U>Severability</U>. The provisions of this Agreement shall be deemed severable and the invalidity or unenforceability
of any provision shall not affect the validity or enforceability of the other provisions hereof. If any provision of this Agreement,
or the application of such provision to any person or any circumstance, is invalid or unenforceable (a) a suitable and equitable
provision shall be substituted therefor in order to carry out, so far as may be valid and enforceable, the intent and purpose of
such invalid or unenforceable provision and (b) the remainder of this Agreement and the application of such provision to other
persons or circumstances shall not be affected by such invalidity or unenforceability, nor shall such invalidity or unenforceability
affect the validity or enforceability of such provision, or the application of such provision, in any other jurisdiction.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
6.7&#9;</FONT><U>Entire Agreement; Assignment</U>. This Agreement constitutes the entire agreement, and supersedes all other prior
agreements and understandings, both written and oral, between the parties, or any of them, with respect to the subject matter hereof.
Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned by any of the parties hereto
(whether by operation of law or otherwise) without the prior written consent of the other parties, except that without consent
Company may assign all or any of its rights and obligations hereunder to any of its Affiliates that assume the rights and obligations
of Company under the Merger Agreement. Subject to the preceding two sentences, this Agreement will be binding upon, inure to the
benefit of and be enforceable by the parties hereto and their respective successors and permitted assigns. Notwithstanding anything
to the contrary set forth herein, the Stockholder agrees that this Agreement and the obligations hereunder shall be binding upon
any Person to which record or beneficial ownership of the Stockholder&rsquo;s Subject Shares shall pass, whether by operation or
law or otherwise, including the Stockholder&rsquo;s heirs, guardians, administrators or successors and assigns, and the Stockholder
agrees to take all actions necessary to effect the foregoing.</P>

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


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
6.8&#9;</FONT><U>Governing Law</U>. THIS AGREEMENT AND ALL QUESTIONS RELATING TO THE INTERPRETATION OR ENFORCEMENT OF THIS AGREEMENT
SHALL BE DEEMED TO BE MADE IN AND IN ALL RESPECTS SHALL BE INTERPRETED, CONSTRUED AND GOVERNED BY AND IN ACCORDANCE WITH THE LAW
OF THE STATE OF DELAWARE WITHOUT REGARD TO THE CONFLICTS OF LAW PRINCIPLES THEREOF TO THE EXTENT THAT SUCH PRINCIPLES WOULD DIRECT
A MATTER TO ANOTHER JURISDICTION.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
6.9&#9;</FONT><U>Specific Performance</U><FONT STYLE="color: #202020">.</FONT> The Stockholder acknowledges that any breach of
this Agreement would give rise to irreparable harm for which monetary damages would not be an adequate remedy and each of the Company
and Parent shall be entitled to a decree of specific performance and to temporary, preliminary and permanent injunctive relief
to prevent breaches or threatened breaches of any of the provisions of this Agreement, without the necessity of proving the inadequacy
of monetary damages as a remedy, which shall be the sole and exclusive remedy for any such breach.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
6.10&#9;</FONT><U>Submission to Jurisdiction</U>. The parties hereby irrevocably submit to the exclusive personal jurisdiction
of the Court of Chancery of the State of Delaware, or, if the Chancery Court declines jurisdiction, the United States District
Court for the District of Delaware or the courts of the State of Delaware solely in respect of the interpretation and enforcement
of the provisions of this Agreement and hereby waive, and agree not to assert, as a defense in any action, suit or proceeding for
the interpretation or enforcement hereof, that it is not subject thereto or that such action, suit or proceeding may not be brought
or is not maintainable in said courts or that the venue thereof may not be appropriate or that this Agreement may not be enforced
in or by such courts, and the parties hereto irrevocably agree that all claims relating to such action, suit or proceeding shall
be heard and determined in such courts. The parties hereby consent to and grant any such court jurisdiction over the person of
such parties and, to the extent permitted by law, over the subject matter of such dispute and agree that mailing of process or
other papers in connection with any such action or proceeding in the manner provided in <U>Section 7.4</U> or in such other manner
as may be permitted by Legal Requirements shall be valid and sufficient service thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
6.11&#9;</FONT><U>Waiver of Jury Trial</U>. EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS
AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY
WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING
TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (i) NO REPRESENTATIVE,
AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF
LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (ii) EACH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER,
(iii) EACH PARTY MAKES THIS WAIVER VOLUNTARILY, AND (iv) EACH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER
THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS <U>SECTION 7.13</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="text-transform: uppercase">Section
6.12&#9;</FONT><U>Counterparts</U>. This Agreement may be executed in two or more counterparts (including by facsimile transmission
or other means of electronic transmission, such as by electronic mail in &ldquo;pdf&rdquo; form), each of which shall be an original,
with the same effect as if the signatures thereto and hereto were upon the same instrument, and shall become effective when one
or more counterparts have been signed by each of the parties and delivered (by facsimile or otherwise) to the other parties.</P>

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


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in; text-align: justify">IN WITNESS WHEREOF, Company and the Stockholder
have caused this Agreement to be duly executed as of the day and year first above written.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>ADYnXX, INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 45%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>[STOCKHOLDER]</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Address:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Electronic Mail Address:</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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


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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">I ____________________, spouse of ____________________, having
the legal capacity, power and authority to do so, hereby confirm that I have read and approve the foregoing the Voting Agreement
(the &ldquo;<B><I>Agreement</I></B>&rdquo;).&nbsp;&nbsp;In consideration of the terms and conditions as set forth in the Agreement,
I hereby appoint my spouse as my attorney in fact with respect to the exercise of any rights and obligations under the Agreement,
and agree to be bound by the provisions of the Agreement insofar as I may have any rights or obligations in the Agreement under
the community property laws of the State of California or similar laws relating to marital or community property in effect in the
state of our residence as of the date of the Agreement.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Date:</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">[<I>Signature Page to Voting Agreement</I>]</P>

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


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

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

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

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

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

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


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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each of the undersigned
stockholders of <FONT STYLE="font-variant: small-caps"><B>Adynxx, Inc.</B></FONT>, a Delaware corporation (the &ldquo;<B><I>Company</I></B>&rdquo;),
constituting the holders of at least: a majority of the shares of the Company&rsquo;s outstanding shares of Common Stock and Preferred
Stock, voting together as a single class on an as-converted basis; the holders of a majority of the shares of the Company&rsquo;s
Series A Preferred Stock and Series B Preferred Stock, voting together as a separate class on an as-converted basis; the holders
of a majority of Key Holder Shares (as defined in the Voting Agreement); the holders of a majority of Key Holder Stock (as defined
in the Co-Sale Agreement); and TPG Biotechnology Partners IV, L.P., acting pursuant to Section 228(a) of the General Corporation
Law of the State of Delaware (the &ldquo;<B><I>DGCL</I></B>&rdquo;) hereby irrevocably consents with respect to all shares of the
Company&rsquo;s capital stock owned by such stockholder to the adoption of the following resolutions and to the taking of the actions
referred to in such resolutions in lieu of a meeting:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-variant: small-caps"><B>Adoption
of Merger of the Company and the Agreement and Plan of Merger</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>Whereas</B></FONT>,
the Company&rsquo;s Board of Directors (the &ldquo;<B><I>Board</I></B>&rdquo;) has considered the proposed merger and other transactions
described in an Agreement and Plan of Merger and Reorganization by and among the Company, Alliqua BioMedical, Inc., a Delaware
corporation (&ldquo;<B><I>Alliqua</I>&rdquo;</B>), and Embark Merger Sub Inc., a Delaware corporation and wholly-owned subsidiary
of Alliqua (&ldquo;<B><I>Merger Sub</I></B>&rdquo;) in the form presented to the Board and attached hereto as <FONT STYLE="font-variant: small-caps"><B>Exhibit
A</B></FONT> (the &ldquo;<B><I>Merger Agreement</I></B>&rdquo;) (capitalized terms used but not otherwise defined herein shall
have the meanings ascribed thereto in the Merger Agreement);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>Whereas</B></FONT>,
pursuant to the Merger Agreement, Merger Sub shall merge with and into the Company (the &ldquo;<B><I>Merger</I></B>&rdquo;), the
separate corporate existence of Merger Sub shall cease and the Company shall continue as the surviving corporation and shall become
a wholly-owned subsidiary of Alliqua;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>Whereas</B></FONT>,
the Board, by unanimous vote of all directors, has (i) reviewed and declared that the Merger Agreement, the Merger and the transactions
and agreements contemplated thereby are advisable and fair, and in the best interests of the Company and its stockholders, (ii)
authorized, approved and adopted the Merger Agreement and authorized, approved and adopted the Merger and the transactions and
agreements contemplated thereby, and (iii) has directed that the Merger Agreement, and the other agreements, certificates and documents
contemplated thereby be executed and delivered and submitted to the stockholders of the Company for their approval and adoption;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>Whereas</B></FONT>,
pursuant to Section&nbsp;144 of the DGCL, no contract or transaction between the Company and one or more of its directors or officers
or any other corporation, partnership, association or other organization in which one or more of the directors or officers of the
Company is a director or officer of, or has a financial interest in (any such party is referred to herein individually as an &ldquo;<B><I>Interested
Party</I></B>,&rdquo; or collectively as the &ldquo;<B><I>Interested Parties</I></B>,&rdquo; and any such contract or transaction
is referred to herein as an &ldquo;<B><I>Interested Party Transaction</I></B>&rdquo;), shall be void or voidable solely for that
reason, or solely because the director or officer is present at or participates in the meeting of the Board which authorized the
Interested Party Transaction or solely because the vote of any such director is counted for such purpose, if: (i) the material
facts as to the relationship or interest and as to the contract are disclosed or are known to the Board, and the Board in good
faith authorizes the contract or transaction by affirmative votes of a majority of the disinterested directors, even though the
disinterested directors be less than a quorum, (ii)&nbsp;the material facts as to the relationship or interest and as to the contract
are disclosed or are known to the stockholders entitled to vote thereon, and the contract or transaction is specifically approved
in good faith by vote of the stockholders, or (iii) the contract or transaction is fair as to the Company as of the time it is
authorized, approved or ratified by the Board or the stockholders;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>Whereas</B></FONT>,
it is hereby disclosed or made known to the stockholders of the Company that Dennis Podlesak, Eckard Weber, M.D., Stan Abel, Rick
Orr and Julien Mamet, Ph.D. or their affiliates will receive consideration in connection with the Merger and each is a director
of the Company such that each may be considered an Interested Party with respect to the Merger and the Merger may be an Interested
Party Transaction; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>Whereas</B></FONT>,
after careful consideration, the Board has further determined that it is in the best interests of the Company and the stockholders
of the Company (a) for the Company to enter into all agreements and other documents contemplated by the Merger Agreement to which
the Company is a party, including, but not limited to, the Voting Agreements with certain stockholders of the Company (all agreements
and other documents contemplated by the Merger Agreement, the &ldquo;<B><I>Transaction Documents</I></B>&rdquo;) and (b) to perform
the transactions contemplated by the Transaction Documents.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>Now,
Therefore, Be it Resolved</B></FONT>, that after careful consideration, the undersigned stockholders have determined that the terms
and conditions of the Merger are just and equitable and fair as to the Company and that it is in the best interests of the Company
and the stockholders of the Company to enter into the Merger subject to the terms agreed upon by the parties;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>Resolved
Further</B>,</FONT> that the undersigned stockholders hereby acknowledge that all material facts as to the directors&rsquo; relationships
or interests as to the Merger and the other transactions authorized and approved in the preceding resolutions have been disclosed
and are known to the stockholders, and that the stockholders, by execution hereof, specifically approve such transactions pursuant
to Section 144(a)(2) of the DGCL;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>Resolved
Further</B></FONT>, that the Merger, the Certificate of Merger to be filed with the Secretary of State of the State of Delaware
effecting the Merger, the Merger Agreement and the Transaction Documents, each subject to such changes and modifications as the
Company may consider necessary or appropriate, and the transactions contemplated thereby, be, and each of them hereby is, authorized
and approved in all respects, and the Merger Agreement is hereby adopted by the undersigned stockholders and that each of the undersigned
Stockholders hereby votes all of the shares of capital stock of the Company held by such Stockholder and entitled to vote thereon
in favor of the adoption and approval of the Merger Agreement, the Certificate of Merger, the Transaction Documents and the transactions
contemplated thereby, including the Merger;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>Resolved
Further</B>, </FONT>that the allocation of the merger consideration pursuant to and in accordance with the terms of the Merger
Agreement and the Transaction Documents is approved and adopted in all respects;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>Resolved
Further</B>, </FONT>that the indemnification obligations set forth in Section 5.06 of the Merger Agreement are approved and adopted
in all respects;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>Resolved
Further</B>,</FONT> that with respect to the Merger and the other transactions contemplated by the Merger Agreement and Transaction
Documents, all notice requirements set forth in the Company&rsquo;s Restated Certificate or Bylaws be, and they hereby are, waived;
and</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>Resolved
Further</B>,</FONT> that the Company is hereby authorized to execute and deliver all such instruments, notices and certificates,
to make all such payments, to make all such filings pursuant to state laws or otherwise (and any such filings heretofore made are
hereby ratified), and to do all such other acts and things as are necessary or desirable in order to carry out the intent and purposes
of the foregoing resolutions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-variant: small-caps"><B>Waiver
of Appraisal Rights</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>Whereas</B>,
</FONT>a stockholder of the Company who does not vote in favor of the Merger (a &ldquo;<B><I>Dissenting Stockholder</I></B>&rdquo;)
may, under certain circumstances by following procedures prescribed by Section 262 of the DGCL, exercise appraisal rights under
the DGCL to receive cash in an amount equal to the &ldquo;fair value&rdquo; of such stockholder&rsquo;s shares of the Company&rsquo;s
stock as to which such stockholder has exercised such appraisal rights (such &ldquo;fair value&rdquo; will exclude any element
of value arising from the accomplishment or expectation of the Merger);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>Whereas</B></FONT>,
the undersigned stockholders determined, in connection with the Merger, that the fair value and (if applicable) fair market value
of the Company&rsquo;s stock for the purpose of stockholders&rsquo; exercise of appraisal rights under Delaware is the applicable
consideration (calculated in accordance with the Merger Agreement) for such stock; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>Whereas</B></FONT>,
a Dissenting Stockholder must follow the appropriate procedures under the DGCL, or suffer the termination or waiver of such appraisal
rights.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>Now,
Therefore, Be it Resolved</B></FONT>, approval of the Merger given by each shareholder is irrevocable and such stockholder is aware
of its rights to demand appraisal for its shares under Section 262 of the DGCL, a copy of which is attached hereto as <FONT STYLE="font-variant: small-caps"><B>Exhibit
B</B></FONT>, and that such stockholder has received and read a copy of Section 262 of the DGCL;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>Resolved
Further</B>,</FONT> that each undersigned stockholder, with respect only to himself, herself or itself, and any shares held by
him, her or it in such capacity, hereby unconditionally waives (and to the extent not able to be waived, does hereby agree not
to exercise or assert) any and all (i) rights under Section 262 of the DGCL and under other applicable law or regulation granting
such stockholder the right to have such stockholder&rsquo;s shares of Company capital stock appraised in connection with the Merger
or (ii) right to otherwise dissent from the Merger and the transactions contemplated by the Merger Agreement; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>Resolved
Further</B>,</FONT> by each shareholder approving of the Merger, it is not entitled to appraisal rights with respect to its shares
in connection with the Merger and thereby waives any rights to receive payment of the fair value of its capital stock under the
DGCL.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-variant: small-caps"><B>Additional
Stockholders&rsquo; Rights</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>Whereas</B>,
Article IV, </FONT>Section 3 of the Amended and Restated Certificate of Incorporation of the Company (the &ldquo;<B><I>Restated
Certificate</I></B>&rdquo;) provides for a liquidation preference to be paid to the holders of the Preferred Stock of the Company
(the &ldquo;<B><I>Preferred Stock</I></B>&rdquo;) in the event of a Liquidation Event (as defined in the Restated Certificate)
(the &ldquo;<B><I>Liquidation Preference</I></B>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>Now,
Therefore, Be it Resolved</B></FONT>, that each of the undersigned stockholders hereby acknowledge that the Merger is not a Liquidation
Event: and</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>Resolved
Further</B></FONT>, each of the undersigned stockholders hereby acknowledge that the Merger, not being a Liquidation Event, shall
not trigger any payment pursuant to the Liquidation Preferences with respect to any of the outstanding shares of Preferred Stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-variant: small-caps"><B>Termination
of Amended and Restated Investors&rsquo; Rights Agreement</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>Whereas</B></FONT>,
the Company and certain of its stockholders entered into that certain Amended and Restated Investors&rsquo; Rights Agreement, dated
as of October 19, 2016 (the &ldquo;<B><I>IRA</I></B>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>Now,
Therefore, Be it Resolved</B></FONT>, that undersigned stockholders of the Company that are party to the IRA hereby agree that
the IRA shall be terminated effective as of, and conditioned upon, the closing of the Merger, and that no party shall have any
further rights or obligations under the IRA following the Merger.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-variant: small-caps"><B>Termination
of Amended and Restated Right of First Refusal and Co-Sale Agreement</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>Whereas</B></FONT>,
the Company and certain of its stockholders entered into that certain Amended and Restated Right of First Refusal and Co-Sale Agreement,
dated as of October 19, 2016 (the &ldquo;<B><I>Co-Sale Agreement</I></B>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>Now,
Therefore, Be it Resolved</B></FONT>, that the undersigned stockholders of the Company that are party to the Co-Sale Agreement
hereby agree that the Co-Sale Agreement shall be terminated effective as of, and conditioned upon, the closing of the Merger, and
that no party shall have any further rights or obligations under the Co-Sale Agreement following the Merger.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-variant: small-caps"><B>Termination
of Amended and Restated Voting Agreement</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>Whereas</B></FONT>,
the Company and certain of its stockholders entered into that certain Amended and Restated Voting Agreement, dated as of October
19, 2016 (the &ldquo;<B><I>Voting Agreement</I></B>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>Now,
Therefore, Be it Resolved</B></FONT>, that the undersigned stockholders of the Company that are party to the Voting Agreement hereby
agree that the Voting Agreement shall be terminated effective as of, and conditioned upon, the closing of the Merger, and that
no party shall have any further rights or obligations under the Voting Agreement following the Merger.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-variant: small-caps"><B>General
Authorizing Resolution</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>Resolved</B></FONT>,
that any officer of the Company be, and each of them hereby is, authorized, empowered and directed, for and on behalf of the Company,
to take any and all actions, to negotiate for and enter into agreements and amendments to agreements, including, without limitation,
the Merger Agreement, to perform all such acts and things, to execute, file, deliver or record in the name and on behalf of the
Company, all such certificates, instruments, agreements or other documents, and to make all such payments as they, in their judgment,
or in the judgment of any one or more of them, may deem necessary, advisable or appropriate in order to carry out the purpose and
intent of, or consummate the transactions contemplated by, the foregoing resolutions and/or all of the transactions contemplated
therein or thereby, the authorization therefor to be conclusively evidenced by the taking of such action or the execution and delivery
of such certificates, instruments, agreements or documents;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>Resolved
Further</B>, </FONT>that each of the undersigned Stockholders hereby waives any and all irregularities of notice, with respect
to the time and place of meeting, and consents to the transaction of all business represented by this written consent;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>Resolved
Further</B></FONT>, that all prior acts consistent with the purposes of the above resolutions, done on behalf of the Company by
its officers, are ratified and approved as the proper acts and deeds of the Company; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>Resolved
Further</B></FONT>, that the action taken by this Action by Written Consent shall have the same force and effect as if taken at
a special meeting of the holders of the issued and outstanding shares of capital stock of the Company entitled to vote thereon
duly called and constituted pursuant to the Company&rsquo;s Bylaws and the laws of the State of Delaware. By executing this Action
by Written Consent, each stockholder is giving written consent with respect to all shares of the Company&rsquo;s capital stock
held by such stockholder in favor of the above resolutions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>[Signature
page follows]</B></FONT></P>

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


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    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Action may be
executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one
and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic signature
complying with the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act or other applicable law) or other transmission
method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for
all purposes.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>In
Witness Whereof, </B></FONT>the undersigned have executed this <FONT STYLE="font-variant: small-caps"><B>Action by Written Consent
of the Stockholders </B></FONT>as of the date written below.</P>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: white">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps"><B>Stockholder</B></FONT><B> (if an entity):</B></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: justify; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="text-align: right">Name of Stockholder:</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify">Name:</TD>
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Title:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; background-color: transparent">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; background-color: transparent">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps"><B>Stockholder</B></FONT><B> (if an individual):</B></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="text-align: right">Name of Stockholder:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="text-align: right">Signature:</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>


<!-- Field: Page; Sequence: 17 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

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

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


<!-- Field: Page; Sequence: 18 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Section
262 of the DGCL</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&sect; 262 Appraisal rights</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(a)&ensp;Any stockholder of a corporation
of this State who holds shares of stock on the date of the making of a demand pursuant to subsection (d) of this section with respect
to such shares, who continuously holds such shares through the effective date of the merger or consolidation, who has otherwise
complied with subsection (d) of this section and who has neither voted in favor of the merger or consolidation nor consented thereto
in writing pursuant to &sect; 228 of this title shall be entitled to an appraisal by the Court of Chancery of the fair value of
the stockholder's shares of stock under the circumstances described in subsections (b) and (c) of this section. As used in this
section, the word &quot;stockholder&quot; means a holder of record of stock in a corporation; the words &quot;stock&quot; and &quot;share&quot;
mean and include what is ordinarily meant by those words; and the words &quot;depository receipt&quot; mean a receipt or other
instrument issued by a depository representing an interest in 1 or more shares, or fractions thereof, solely of stock of a corporation,
which stock is deposited with the depository.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(b)&ensp;Appraisal rights shall be available
for the shares of any class or series of stock of a constituent corporation in a merger or consolidation to be effected pursuant
to &sect; 251 (other than a merger effected pursuant to &sect; 251(g) of this title ), &sect; 252, &sect; 254, &sect; 255, &sect;
256, &sect; 257, &sect; 258, &sect; 263 or &sect; 264 of this title:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(1)&ensp;Provided, however, that,
except as expressly provided in &sect; 363(b) of this title, no appraisal rights under this section shall be available for the
shares of any class or series of stock, which stock, or depository receipts in respect thereof, at the record date fixed to determine
the stockholders entitled to receive notice of the meeting of stockholders to act upon the agreement of merger or consolidation
(or, in the case of a merger pursuant to &sect; 251(h), as of immediately prior to the execution of the agreement of merger), were
either: (i) listed on a national securities exchange or (ii) held of record by more than 2,000 holders; and further provided that
no appraisal rights shall be available for any shares of stock of the constituent corporation surviving a merger if the merger
did not require for its approval the vote of the stockholders of the surviving corporation as provided in &sect; 251(f) of this
title.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(2)&ensp;Notwithstanding paragraph
(b)(1) of this section, appraisal rights under this section shall be available for the shares of any class or series of stock of
a constituent corporation if the holders thereof are required by the terms of an agreement of merger or consolidation pursuant
to &sect;&sect; 251, 252, 254, 255, 256, 257, 258, 263 and 264 of this title to accept for such stock anything except:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">a.&ensp;Shares of stock of the
corporation surviving or resulting from such merger or consolidation, or depository receipts in respect thereof;</P>

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

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    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">b.&ensp;Shares of stock of any
other corporation, or depository receipts in respect thereof, which shares of stock (or depository receipts in respect thereof)
or depository receipts at the effective date of the merger or consolidation will be either listed on a national securities exchange
or held of record by more than 2,000 holders;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">c.&ensp;Cash in lieu of fractional
shares or fractional depository receipts described in the foregoing paragraphs (b)(2)a. and b. of this section; or</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">d.&ensp;Any combination of the
shares of stock, depository receipts and cash in lieu of fractional shares or fractional depository receipts described in the foregoing
paragraphs (b)(2)a., b. and c. of this section.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(3)&ensp;In the event all of
the stock of a subsidiary Delaware corporation party to a merger effected under &sect; 253 or &sect; 267 of this title is not owned
by the parent immediately prior to the merger, appraisal rights shall be available for the shares of the subsidiary Delaware corporation.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(4)&ensp;In the event of an amendment
to a corporation's certificate of incorporation contemplated by &sect; 363(a) of this title, appraisal rights shall be available
as contemplated by &sect; 363(b) of this title, and the procedures of this section, including those set forth in subsections (d)
and (e) of this section, shall apply as nearly as practicable, with the word &quot;amendment&quot; substituted for the words &quot;merger
or consolidation,&quot; and the word &quot;corporation&quot; substituted for the words &quot;constituent corporation&quot; and/or
 &quot;surviving or resulting corporation.&quot;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(c)&ensp;Any corporation may provide in
its certificate of incorporation that appraisal rights under this section shall be available for the shares of any class or series
of its stock as a result of an amendment to its certificate of incorporation, any merger or consolidation in which the corporation
is a constituent corporation or the sale of all or substantially all of the assets of the corporation. If the certificate of incorporation
contains such a provision, the provisions of this section, including those set forth in subsections (d), (e), and (g) of this section,
shall apply as nearly as is practicable.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(d)&ensp;Appraisal rights shall be perfected
as follows:</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(1)&ensp;If a proposed merger
or consolidation for which appraisal rights are provided under this section is to be submitted for approval at a meeting of stockholders,
the corporation, not less than 20 days prior to the meeting, shall notify each of its stockholders who was such on the record date
for notice of such meeting (or such members who received notice in accordance with &sect; 255(c) of this title) with respect to
shares for which appraisal rights are available pursuant to subsection (b) or (c) of this section that appraisal rights are available
for any or all of the shares of the constituent corporations, and shall include in such notice a copy of this section and, if 1
of the constituent corporations is a nonstock corporation, a copy of &sect; 114 of this title. Each stockholder electing to demand
the appraisal of such stockholder's shares shall deliver to the corporation, before the taking of the vote on the merger or consolidation,
a written demand for appraisal of such stockholder's shares. Such demand will be sufficient if it reasonably informs the corporation
of the identity of the stockholder and that the stockholder intends thereby to demand the appraisal of such stockholder's shares.
A proxy or vote against the merger or consolidation shall not constitute such a demand. A stockholder electing to take such action
must do so by a separate written demand as herein provided. Within 10 days after the effective date of such merger or consolidation,
the surviving or resulting corporation shall notify each stockholder of each constituent corporation who has complied with this
subsection and has not voted in favor of or consented to the merger or consolidation of the date that the merger or consolidation
has become effective; or</P>

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

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

<!-- Field: Page; Sequence: 20 -->
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    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(2)&ensp;If the merger or consolidation
was approved pursuant to &sect; 228, &sect; 251(h), &sect; 253, or &sect; 267 of this title, then either a constituent corporation
before the effective date of the merger or consolidation or the surviving or resulting corporation within 10 days thereafter shall
notify each of the holders of any class or series of stock of such constituent corporation who are entitled to appraisal rights
of the approval of the merger or consolidation and that appraisal rights are available for any or all shares of such class or series
of stock of such constituent corporation, and shall include in such notice a copy of this section and, if 1 of the constituent
corporations is a nonstock corporation, a copy of &sect; 114 of this title. Such notice may, and, if given on or after the effective
date of the merger or consolidation, shall, also notify such stockholders of the effective date of the merger or consolidation.
Any stockholder entitled to appraisal rights may, within 20 days after the date of mailing of such notice or, in the case of a
merger approved pursuant to &sect; 251(h) of this title, within the later of the consummation of the offer contemplated by &sect;
251(h) of this title and 20 days after the date of mailing of such notice, demand in writing from the surviving or resulting corporation
the appraisal of such holder's shares. Such demand will be sufficient if it reasonably informs the corporation of the identity
of the stockholder and that the stockholder intends thereby to demand the appraisal of such holder's shares. If such notice did
not notify stockholders of the effective date of the merger or consolidation, either (i) each such constituent corporation shall
send a second notice before the effective date of the merger or consolidation notifying each of the holders of any class or series
of stock of such constituent corporation that are entitled to appraisal rights of the effective date of the merger or consolidation
or (ii) the surviving or resulting corporation shall send such a second notice to all such holders on or within 10 days after such
effective date; provided, however, that if such second notice is sent more than 20 days following the sending of the first notice
or, in the case of a merger approved pursuant to &sect; 251(h) of this title, later than the later of the consummation of the offer
contemplated by &sect; 251(h) of this title and 20 days following the sending of the first notice, such second notice need only
be sent to each stockholder who is entitled to appraisal rights and who has demanded appraisal of such holder's shares in accordance
with this subsection. An affidavit of the secretary or assistant secretary or of the transfer agent of the corporation that is
required to give either notice that such notice has been given shall, in the absence of fraud, be prima facie evidence of the facts
stated therein. For purposes of determining the stockholders entitled to receive either notice, each constituent corporation may
fix, in advance, a record date that shall be not more than 10 days prior to the date the notice is given, provided, that if the
notice is given on or after the effective date of the merger or consolidation, the record date shall be such effective date. If
no record date is fixed and the notice is given prior to the effective date, the record date shall be the close of business on
the day next preceding the day on which the notice is given.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(e)&ensp;Within 120 days after the effective
date of the merger or consolidation, the surviving or resulting corporation or any stockholder who has complied with subsections
(a) and (d) of this section hereof and who is otherwise entitled to appraisal rights, may commence an appraisal proceeding by filing
a petition in the Court of Chancery demanding a determination of the value of the stock of all such stockholders. Notwithstanding
the foregoing, at any time within 60 days after the effective date of the merger or consolidation, any stockholder who has not
commenced an appraisal proceeding or joined that proceeding as a named party shall have the right to withdraw such stockholder's
demand for appraisal and to accept the terms offered upon the merger or consolidation. Within 120 days after the effective date
of the merger or consolidation, any stockholder who has complied with the requirements of subsections (a) and (d) of this section
hereof, upon written request, shall be entitled to receive from the corporation surviving the merger or resulting from the consolidation
a statement setting forth the aggregate number of shares not voted in favor of the merger or consolidation (or, in the case of
a merger approved pursuant to &sect; 251(h) of this title, the aggregate number of shares (other than any excluded stock (as defined
in &sect; 251(h)(6)d. of this title)) that were the subject of, and were not tendered into, and accepted for purchase or exchange
in, the offer referred to in &sect; 251(h)(2)), and, in either case, with respect to which demands for appraisal have been received
and the aggregate number of holders of such shares. Such written statement shall be mailed to the stockholder within 10 days after
such stockholder's written request for such a statement is received by the surviving or resulting corporation or within 10 days
after expiration of the period for delivery of demands for appraisal under subsection (d) of this section hereof, whichever is
later. Notwithstanding subsection (a) of this section, a person who is the beneficial owner of shares of such stock held either
in a voting trust or by a nominee on behalf of such person may, in such person's own name, file a petition or request from the
corporation the statement described in this subsection.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(f)&ensp;Upon the filing of any such petition
by a stockholder, service of a copy thereof shall be made upon the surviving or resulting corporation, which shall within 20 days
after such service file in the office of the Register in Chancery in which the petition was filed a duly verified list containing
the names and addresses of all stockholders who have demanded payment for their shares and with whom agreements as to the value
of their shares have not been reached by the surviving or resulting corporation. If the petition shall be filed by the surviving
or resulting corporation, the petition shall be accompanied by such a duly verified list. The Register in Chancery, if so ordered
by the Court, shall give notice of the time and place fixed for the hearing of such petition by registered or certified mail to
the surviving or resulting corporation and to the stockholders shown on the list at the addresses therein stated. Such notice shall
also be given by 1 or more publications at least 1 week before the day of the hearing, in a newspaper of general circulation published
in the City of Wilmington, Delaware or such publication as the Court deems advisable. The forms of the notices by mail and by publication
shall be approved by the Court, and the costs thereof shall be borne by the surviving or resulting corporation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(g)&ensp;At the hearing on such petition,
the Court shall determine the stockholders who have complied with this section and who have become entitled to appraisal rights.
The Court may require the stockholders who have demanded an appraisal for their shares and who hold stock represented by certificates
to submit their certificates of stock to the Register in Chancery for notation thereon of the pendency of the appraisal proceedings;
and if any stockholder fails to comply with such direction, the Court may dismiss the proceedings as to such stockholder. If immediately
before the merger or consolidation the shares of the class or series of stock of the constituent corporation as to which appraisal
rights are available were listed on a national securities exchange, the Court shall dismiss the proceedings as to all holders of
such shares who are otherwise entitled to appraisal rights unless (1) the total number of shares entitled to appraisal exceeds
1% of the outstanding shares of the class or series eligible for appraisal, (2) the value of the consideration provided in the
merger or consolidation for such total number of shares exceeds $1 million, or (3) the merger was approved pursuant to &sect; 253
or &sect; 267 of this title.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(h)&ensp;After the Court determines the
stockholders entitled to an appraisal, the appraisal proceeding shall be conducted in accordance with the rules of the Court of
Chancery, including any rules specifically governing appraisal proceedings. Through such proceeding the Court shall determine the
fair value of the shares exclusive of any element of value arising from the accomplishment or expectation of the merger or consolidation,
together with interest, if any, to be paid upon the amount determined to be the fair value. In determining such fair value, the
Court shall take into account all relevant factors. Unless the Court in its discretion determines otherwise for good cause shown,
and except as provided in this subsection, interest from the effective date of the merger through the date of payment of the judgment
shall be compounded quarterly and shall accrue at 5% over the Federal Reserve discount rate (including any surcharge) as established
from time to time during the period between the effective date of the merger and the date of payment of the judgment. At any time
before the entry of judgment in the proceedings, the surviving corporation may pay to each stockholder entitled to appraisal an
amount in cash, in which case interest shall accrue thereafter as provided herein only upon the sum of (1) the difference, if any,
between the amount so paid and the fair value of the shares as determined by the Court, and (2) interest theretofore accrued, unless
paid at that time. Upon application by the surviving or resulting corporation or by any stockholder entitled to participate in
the appraisal proceeding, the Court may, in its discretion, proceed to trial upon the appraisal prior to the final determination
of the stockholders entitled to an appraisal. Any stockholder whose name appears on the list filed by the surviving or resulting
corporation pursuant to subsection (f) of this section and who has submitted such stockholder's certificates of stock to the Register
in Chancery, if such is required, may participate fully in all proceedings until it is finally determined that such stockholder
is not entitled to appraisal rights under this section.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(i)&ensp;The Court shall direct the payment
of the fair value of the shares, together with interest, if any, by the surviving or resulting corporation to the stockholders
entitled thereto. Payment shall be so made to each such stockholder, in the case of holders of uncertificated stock forthwith,
and the case of holders of shares represented by certificates upon the surrender to the corporation of the certificates representing
such stock. The Court's decree may be enforced as other decrees in the Court of Chancery may be enforced, whether such surviving
or resulting corporation be a corporation of this State or of any state.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(j)&ensp;The costs of the proceeding may
be determined by the Court and taxed upon the parties as the Court deems equitable in the circumstances. Upon application of a
stockholder, the Court may order all or a portion of the expenses incurred by any stockholder in connection with the appraisal
proceeding, including, without limitation, reasonable attorney's fees and the fees and expenses of experts, to be charged pro rata
against the value of all the shares entitled to an appraisal.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(k)&ensp;From and after the effective date
of the merger or consolidation, no stockholder who has demanded appraisal rights as provided in subsection (d) of this section
shall be entitled to vote such stock for any purpose or to receive payment of dividends or other distributions on the stock (except
dividends or other distributions payable to stockholders of record at a date which is prior to the effective date of the merger
or consolidation); provided, however, that if no petition for an appraisal shall be filed within the time provided in subsection
(e) of this section, or if such stockholder shall deliver to the surviving or resulting corporation a written withdrawal of such
stockholder's demand for an appraisal and an acceptance of the merger or consolidation, either within 60 days after the effective
date of the merger or consolidation as provided in subsection (e) of this section or thereafter with the written approval of the
corporation, then the right of such stockholder to an appraisal shall cease. Notwithstanding the foregoing, no appraisal proceeding
in the Court of Chancery shall be dismissed as to any stockholder without the approval of the Court, and such approval may be conditioned
upon such terms as the Court deems just; provided, however that this provision shall not affect the right of any stockholder who
has not commenced an appraisal proceeding or joined that proceeding as a named party to withdraw such stockholder's demand for
appraisal and to accept the terms offered upon the merger or consolidation within 60 days after the effective date of the merger
or consolidation, as set forth in subsection (e) of this section.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(l)&ensp;The shares of the surviving
or resulting corporation to which the shares of such objecting stockholders would have been converted had they assented to the
merger or consolidation shall have the status of authorized and unissued shares of the surviving or resulting corporation.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Schedule I<BR>
<U>Ownership of Common Shares</U></B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 32%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Name and Address of Stockholder</B></FONT></TD>
    <TD STYLE="width: 2%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Number of Common Shares</B></FONT></TD>
    <TD STYLE="width: 2%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Number of Preferred Shares</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">[&#9679;]</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">[&#9679;]</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">[&#9679;]</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>5
<FILENAME>tv504690_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<HTML>
<HEAD>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.1</B></P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">October 11, 2018</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Lock-Up Agreement (this &ldquo;<B><I>Agreement</I></B>&rdquo;)
is executed in connection with the Agreement and Plan of Merger (the &ldquo;<B><I>Merger Agreement</I></B>&rdquo;) by and among
Alliqua BioMedical, Inc. (the &ldquo;<B><I>Parent</I></B>&rdquo;), Embark Merger Sub Inc., (&ldquo;<B><I>Merger Sub</I></B>&rdquo;),
and Adynxx, Inc. (the &ldquo;<B><I>Company</I></B>&rdquo;), dated as of October 11, 2018. Capitalized terms used herein but not
defined shall have the meanings ascribed to such terms in the Merger Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with, and as an inducement
to, the parties entering into the Merger Agreement and for other good and valuable consideration the receipt and sufficiency of
which is hereby acknowledged, the undersigned, by executing this Agreement, agrees that, without the prior written consent of the
Parent and the Company, during the period commencing at the Effective Time and continuing until the end of the Lock-Up Period (as
hereinafter defined), the undersigned will not: (1) offer, pledge, sell, contract to sell, sell any option or contract to purchase,
purchase any option or contract to sell, grant any option, right or warrant to purchase, make any short sale or otherwise transfer
or dispose of or lend, directly or indirectly, any shares of Common Stock of Parent (the &ldquo;<B><I>Parent Common Stock</I></B>&rdquo;)
or any securities convertible into, exercisable or exchangeable for or that represent the right to receive Parent Common Stock
(including without limitation, Parent Common Stock which may be deemed to be beneficially owned by the undersigned in accordance
with the rules and regulations of the Securities and Exchange Commission and securities which may be issued upon exercise of a
stock option or warrant) whether now owned or hereafter acquired (the <B><I>&ldquo;Securities&rdquo;</I></B>); (2) enter into any
swap or other agreement that transfers, in whole or in part, any of the economic consequences of ownership of the Securities, whether
any such transaction described in clause (1) or (2) above is to be settled by delivery of Parent Common Stock or such other securities,
in cash or otherwise; (3) make any demand for or exercise any right with respect to, the registration of any Parent Common Stock
or any security convertible into or exercisable or exchangeable for Parent Common Stock; (4) except for the Voting Agreement, grant
any proxies or powers of attorney with respect to any Securities, deposit any Securities into a voting trust or enter into a voting
agreement or similar arrangement or commitment with respect to any Securities; or (5) publicly disclose the intention to do any
of the foregoing (each of the foregoing restrictions, the &ldquo;<B><I>Lock-Up Restrictions</I></B>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Notwithstanding the terms of the foregoing
paragraph, the Lock-Up Restrictions shall automatically terminate and cease to be effective on the date that is one-hundred and
eighty (180) days after the Effective Time. The period during which the Lock-Up Restrictions apply to the Securities shall be deemed
the &ldquo;<B><I>Lock-Up Period</I></B>&rdquo; with respect thereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The undersigned agrees that the Lock-Up
Restrictions preclude the undersigned from engaging in any hedging or other transaction with respect to any then-subject Securities
which is designed to or which reasonably could be expected to lead to or result in a sale or disposition of such Securities even
if such Securities would be disposed of by someone other than the undersigned.&nbsp;&nbsp;Such prohibited hedging or other transactions
would include without limitation any short sale or any purchase, sale or grant of any right (including without limitation any put
or call option) with respect to such Securities or with respect to any security that includes, relates to, or derives any significant
part of its value from such Securities.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Notwithstanding the foregoing, the undersigned
may transfer any of the Securities (i) as a <I>bona fide</I> gift or gifts or charitable contribution(s), (ii) to any trust for
the direct or indirect benefit of the undersigned or the immediate family of the undersigned, (iii) if the undersigned is a corporation,
partnership, limited liability company, trust or other business entity (1) to another corporation, partnership, limited liability
company, trust or other business entity that is a direct or indirect affiliate (as defined in Rule 405 promulgated under the Securities
Act of 1933, as amended) of the undersigned or (2) as distributions of shares of Parent Common Stock or any security convertible
into or exercisable for Parent Common Stock to limited partners, limited liability company members or stockholders of the undersigned
or holders of similar equity interests in the undersigned, (iv) if the undersigned is a trust, to the beneficiary of such trust,
(v) by testate succession or intestate succession, (vi) to any immediate family member, any investment fund, family partnership,
family limited liability company or other entity controlled or managed by the undersigned, (vii) to a nominee or custodian of a
person or entity to whom a disposition or transfer would be permissible under clauses (i) through (vi), (viii) to Parent in a transaction
exempt from Section 16(b) of the Securities Exchange Act of 1934, as amended (the &ldquo;<B><I>Exchange Act</I></B>&rdquo;) upon
a vesting event of the Securities or upon the exercise of options or warrants to purchase Parent Common Stock on a &ldquo;cashless&rdquo;
or &ldquo;net exercise&rdquo; basis or to cover tax withholding obligations of the undersigned in connection with such vesting
or exercise (but for the avoidance of doubt, excluding all manners of exercise that would involve a sale in the open market of
any securities relating to such options or warrants, whether to cover the applicable aggregate exercise price, withholding tax
obligations or otherwise), (ix) to Parent in connection with the termination of employment or other termination of a service provider
and pursuant to agreements in effect as of the Effective Time whereby Parent has the option to repurchase such shares or securities,
(x) acquired by the undersigned in open market transactions after the Effective Time, (xi) pursuant to a bona fide third party
tender offer, merger, consolidation or other similar transaction made to all holders of the Parent&rsquo;s capital stock involving
a change of control of the Parent, provided that in the event that such tender offer, merger, consolidation or other such transaction
is not completed, the Securities shall remain subject to the restrictions contained in this Agreement, or (xii) pursuant to an
order of a court or regulatory agency; <I>provided,</I> in the case of clauses (i)-(vii), that (A) such transfer shall not involve
a disposition for value and (B) the transferee agrees in writing with Parent to be bound by the terms of this Agreement; and <I>provided,
further</I>, in the case of clauses (i)-(ix), no filing by any party under Section 16(a) of the Exchange Act shall be required
or shall be made voluntarily in connection with such transfer.&nbsp;&nbsp;For purposes of this Agreement, &ldquo;immediate family&rdquo;
shall mean any relationship by blood, marriage or adoption, not more remote than first cousin.&nbsp;&nbsp;</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, the foregoing restrictions
shall not apply to (i)&nbsp;the exercise of stock options granted pursuant to equity incentive plans existing immediately following
the Effective Time, including the &ldquo;net&rdquo; exercise of such options in accordance with their terms and the surrender of
Parent Common Stock in lieu of payment in cash of the exercise price and any tax withholding obligations due as a result of such
exercise (but for the avoidance of doubt, excluding all manners of exercise that would involve a sale in the open market of any
securities relating to such options, whether to cover the applicable aggregate exercise price, withholding tax obligations or otherwise);
<I>provided</I> that it shall apply to any of the Securities issued upon such exercise, (ii)&nbsp;conversion or exercise of warrants
into Parent Common Stock or into any other security convertible into or exercisable for Parent Common Stock that are outstanding
as of the Effective Time (but for the avoidance of doubt, excluding all manners of conversion or exercise that would involve a
sale in the open market of any securities relating to such warrants, whether to cover the applicable aggregate exercise price,
withholding tax obligations or otherwise); <I>provided</I> that it shall apply to any of the Securities issued upon such conversion
or exercise; and <I>provided, further </I>that the recipient of Parent Common Stock agrees in writing with Parent to be bound by
the terms of this Agreement, or (iii) the establishment of any contract, instruction or plan (a <B><I>&ldquo;Plan&rdquo;</I></B>)
that satisfies all of the requirements of Rule 10b5-1(c)(1)(i)(B) under the Exchange Act; <I>provided</I> that no sales of the
Securities shall be made pursuant to such a Plan prior to the expiration of the Lock-Up Period, and such a Plan may only be established
if no public announcement of the establishment or existence thereof and no filing with the Securities and Exchange Commission or
other regulatory authority in respect thereof or transactions thereunder or contemplated thereby, by the undersigned, Parent or
any other person, shall be required, and no such announcement or filing is made voluntarily, by the undersigned, Parent or any
other person, prior to the expiration of the applicable Lock-Up Period.&nbsp;&nbsp;In furtherance of the foregoing, Parent and
its transfer agent and registrar are hereby authorized to decline to make any transfer of shares of Parent Common Stock if such
transfer would constitute a violation or breach of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The undersigned hereby represents and warrants
that the undersigned has full power and authority to enter into this Agreement and that upon request, the undersigned will execute
any additional documents reasonably necessary to ensure the validity or enforcement of this Agreement. All authority herein conferred
or agreed to be conferred and any obligations of the undersigned shall be binding upon the successors, assigns, heirs or personal
representatives of the undersigned.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The undersigned understands that the undersigned
shall be released from all obligations under this Agreement if the Merger Agreement is terminated prior to the Effective Date pursuant
to its terms, upon the date of such termination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The undersigned understands that Parent,
the Merger Sub and the Company are entering into the Merger Agreement in reliance upon this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Agreement shall be governed by, and
construed in accordance with, the laws of the State of Delaware.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Agreement, and any certificates, documents,
instruments and writings that are delivered pursuant hereto, constitutes the entire agreement and understanding of the Parent,
the Company and the undersigned in respect of the subject matter hereof and supersedes all prior understandings, agreements or
representations by or among the Parent, the Company and the undersigned, written or oral, to the extent they relate in any way
to the subject matter hereof</P>

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


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    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Very truly yours,</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 45%; text-align: center">Printed Name of Holder</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
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<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Signature</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Printed Name of Person Signing</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">(and indicate capacity of person signing if</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">signing as custodian, trustee, or on behalf of an entity)</TD></TR>
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<DESCRIPTION>EXHIBIT 99.1
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 99.1</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Alliqua BioMedical Inc. and Adynxx, Inc. Announce Merger Agreement
to Create NASDAQ-listed Clinical-Stage Pharmaceutical Company with a Focus on Pain and Inflammation</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">LANGHORNE, PA &amp; SAN FRANCISCO, CA, October 12, 2018 &mdash;
Alliqua BioMedical, Inc. (Nasdaq:ALQA) and Adynxx, Inc., a privately held biopharmaceutical company, today announced that they
have entered into a definitive merger agreement under which the stockholders of Adynxx would become the majority owners of Alliqua&rsquo;s
outstanding common stock on a fully-diluted basis. The proposed merger will create a public clinical-stage pharmaceutical company
focused on developing a platform of first-in-class, disease-modifying, non-opioid therapies for the treatment of pain. Adynxx&rsquo;s
lead product candidate, brivoligide for the reduction of postoperative pain, is intended to provide long-term pain relief and reduced
opioid usage with a single administration at the time of surgery in a group of patients with a greater risk of experiencing increased
and prolonged pain following surgery.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;We are excited about creating multiple ways for our shareholders
to maximize value with Alliqua,&rdquo; said Dave Johnson, CEO of Alliqua. &ldquo;First, as announced in May, we intend to make
a special cash dividend to our stockholders before the merger. Second, following an extensive review of strategic alternatives,
Alliqua&rsquo;s Board of Directors has determined that the signing of our definitive agreement with Adynxx will allow our stockholders
the opportunity to enjoy value appreciation in their equity holdings. Finally, we are currently exploring alternatives for our
16,500 square foot GMP custom hydrogel manufacturing facility in&nbsp;Langhorne, PA to maximize value for our shareholders.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;With the ongoing opioid crisis in the United States,
there is a critical need for novel and effective non-opioid therapeutics to treat pain and reduce opioid usage,&rdquo; noted Rick
Orr, CEO of Adynxx. &ldquo;Following this transaction, our goal is to accelerate the development of brivoligide to benefit patients
that would otherwise experience greater pain and higher levels of opioid usage following surgery. We also plan to build a robust
pipeline of novel therapeutics for pain and inflammation through development of our earlier-stage internal programs, our ongoing
discovery collaboration leveraging artificial intelligence, and additional in-licensing activities.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&quot;We believe moving into the public markets will allow Adynxx
to rapidly advance brivoligide and create significant value for shareholders,&rdquo; added Dennis Podlesak, Adynxx Chairman and
Partner of Domain Associates. &ldquo;The benefits of the merger, combined with the strength of the management team, will also position
the company to create additional value through potential pipeline expansion with a strategic focus on pain and inflammatory diseases.&quot;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The results of Adynxx&rsquo;s Phase 2 studies conducted in patients
undergoing total knee arthroplasty suggest that a single administration of brivoligide prior to surgery can reduce both pain with
walking and pain at rest following surgery, shorten the period of time needed to achieve mild postoperative pain and reduce the
need for postoperative opioids in subjects that are high scorers on the pain catastrophizing scale (PCS), all with a very favorable
safety profile. The clinical profile of brivoligide in high scorers on the PCS will be prospectively evaluated in upcoming Phase
2 clinical studies in total knee arthroplasty and mastectomy. Each trial will involve approximately 130 subjects scoring 16 or
greater on the PCS. Both studies are designed to provide guidance for the planned Phase 3 pivotal studies to be initiated after
meetings with regulatory authorities. The proposed indication for brivoligide is the treatment of postoperative pain in patients
that score 16 or greater on the PCS.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The proposed merger remains subject to certain conditions, including
approval by Alliqua&rsquo;s and Adynxx&rsquo;s stockholders.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The merger is structured as a stock-for-stock transaction whereby
all of Adynxx&rsquo;s outstanding shares of common stock and securities convertible into or exercisable for Adynxx&rsquo;s common
stock will be converted into Alliqua common stock and securities convertible into or exercisable for Alliqua common stock. Under
the exchange ratio formula in the merger agreement, immediately after the merger the former Adynxx securityholders are expected
to own approximately 86% of the aggregate number of shares of the Alliqua common stock issued and outstanding following the consummation
of the merger, and the existing stockholders of Alliqua are expected to own approximately 14% of the aggregate number of shares
of the Alliqua common stock issued and outstanding following the consummation of the merger. Under certain circumstances further
described in the merger agreement, the exchange ratio may be adjusted in a manner that would reduce the percentage of the aggregate
number of post-merger shares of Alliqua common stock held by the existing stockholders of Alliqua.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Upon closing of the transaction, Alliqua will be renamed Adynxx,
Inc. and will be headquartered in San Francisco, California under the leadership of Adynxx&rsquo;s current management team. Prior
to closing, Alliqua will seek stockholder approval to conduct a reverse split of its outstanding shares to satisfy listing requirements
of the Nasdaq Capital Market. The combined company is expected to trade on the Nasdaq Capital Market under a new ticker symbol.
The merger agreement has been unanimously approved by the board of directors of each company. The transaction is expected to close
by the first quarter of 2019, subject to approvals by the stockholders of each company and other customary closing conditions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">H.C. Wainwright &amp; Co. is acting as Alliqua&rsquo;s financial
advisor in the transaction and MTS Securities, LLC is acting as financial advisor to Adynxx. Haynes and Boone, LLP is serving as
legal counsel to Alliqua and Cooley LLP is serving as legal counsel to Adynxx with respect to the transaction.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Alliqua can provide a custom manufacturing solution to partners
in the medical device; cosmetics; and OTC industry, utilizing its proprietary hydrogel technology. Alliqua's electron beam production
process, located at its 16,500 square foot GMP manufacturing facility in Langhorne, PA, allows Alliqua to custom manufacture a
wide variety of hydrogels. Alliqua's hydrogels can be customized for various transdermal applications to address market opportunities
in the treatment of wounds as well as the delivery of numerous drugs or other agents for pharmaceutical and cosmetic industries.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For additional information, please visit <U>http://www.alliqua.com</U>.
To receive future press releases via email, please visit <U>https://ir.stockpr.com/alliqua/email-alerts</U>.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Adynxx, Inc., located in San Francisco, California, is a clinical-stage
pharmaceutical company developing a potentially transformative technology platform addressing pain at its molecular roots &ndash;
treating the development of pain following surgery or trauma and established chronic pain syndromes. Adynxx`s approach is to transform
pain management by approaching pain as a disease rather than a symptom. For more information, visit <U>www.adynxx.com</U>.</P>

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


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Brivoligide (AYX1) is an investigational drug intended to reduce
acute post-surgical pain with a single administration at the time of surgery. It acts by locally inhibiting EGR1 activity at the
time of surgery or trauma in neurons critical to pain sensation, switching off the sequence of events leading to exacerbated pain
after surgery, including pain with movement. EGR1 is a transcription factor transiently upregulated in the spinal cord and dorsal
root ganglia at the time of surgery or trauma. During this short period of upregulation, EGR1 triggers waves of gene transcription
and subsequent protein expression that change neuronal properties, establishing mechanical hypersensitivity and leading to long-term
pain arising from a single traumatic incident.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Pain Catastrophizing Scale (PCS) is a validated and sensitive
13-item clinical tool, developed in 1995, which assesses the three domains of the catastrophizing construct: rumination, helplessness
and magnification. Each item is rated on a zero to four-point scale, with the total score ranging from zero to 52. Patients with
a score of 16 or higher on the PCS are more likely to experience inadequate pain relief following surgery and represent 25-35%
of all patients undergoing surgery. The relationship between PCS score and pain has been extensively documented and more than 600
papers have been published on use of the PCS in acute and chronic pain populations. Elevated scores on the PCS may reflect altered
descending pain modulation neuronal networks associated with enhanced postoperative pain. The PCS can be provided to patients well
in advance of surgery and easily integrated into the patient assessment and education flow to reliably identify patients suitable
for brivoligide treatment. PCS data were collected in all three Phase 2 studies of brivoligide and show consistent effects in subjects
with high PCS scores.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Additional Information about the Proposed Merger and Where
to Find It </I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In connection with the proposed merger, Alliqua intends to file
relevant materials with the Securities and Exchange Commission, or the SEC, including a proxy statement. Investors and security
holders of Alliqua and Adynxx are urged to read these materials when they become available because they will contain important
information about Alliqua, Adynxx and the proposed merger. The proxy statement and other relevant materials (when they become available),
and any other documents filed by Alliqua with the SEC, may be obtained free of charge at the SEC web site at www.sec.gov. In addition,
investors and security holders may obtain free copies of the documents filed with the SEC by Alliqua by directing a written request
to: Alliqua, Inc., Inc. 2150 Cabot Blvd West, Suite B, Langhorne, PA 19047, Attn: Investor Relations. Investors and security holders
are urged to read the proxy statement and the other relevant materials when they become available before making any voting or investment
decision with respect to the proposed merger.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This communication shall not constitute an offer to sell or
the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities
in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. No public offer of securities shall be made except by means of a prospectus meeting the
requirements of Section 10 of the Securities Act of 1933, as amended.</P>

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


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Alliqua and its directors and executive officers and Adynxx
and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders
of Alliqua in connection with the proposed transaction. Information regarding the special interests of these directors and executive
officers in the proposed merger will be included in the proxy statement referred to above. Additional information regarding the
directors and executive officers of Alliqua is also included in Alliqua&rsquo;s Annual Report on Form 10-K for the year ended December
31, 2017 and the proxy statement for Alliqua's 2018 Annual Meeting of Stockholders. These documents are available free of charge
at the SEC web site (www.sec.gov) and from Investor Relations at Alliqua at the address described above.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Alliqua cautions you that statements in this press release that
are not a description of historical fact are forward-looking statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements may be identified by the use of words referencing future events or circumstances
such as &ldquo;expect,&rdquo; &ldquo;intend,&rdquo; &ldquo;plan,&rdquo; &ldquo;anticipate,&rdquo; &ldquo;believe,&rdquo; and &ldquo;will,&rdquo;
among others. Such statements include, but are not limited to, statements regarding the structure, timing and completion of our
proposed merger with Adynxx; our continued listing on the Nasdaq Capital Market prior to and after the proposed merger; our expectations
regarding the capitalization, resources and ownership structure of the combined organization; our expectations regarding the sufficiency
of the combined organization's resources to fund the advancement of any development program or the completion of any clinical trial;
the nature, strategy and focus of the combined organization; the safety, efficacy and projected development timeline and commercial
potential of any product candidates; the executive officer and board structure of the combined organization; and the expectations
regarding voting by Alliqua and Adynxx stockholders. Alliqua and/or Adynxx may not actually achieve the proposed merger, or any
plans or product development goals in a timely manner, if at all, or otherwise carry out the intentions or meet the expectations
or projections disclosed in our forward-looking statements, and you should not place undue reliance on these forward-looking statements.
Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied
by such forward-looking statements. These forward-looking statements are based upon Alliqua's and Adynxx's current expectations
and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could
differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which
include, without limitation, risks and uncertainties associated with stockholder approval of and the ability to consummate the
proposed merger through the process being conducted by Alliqua and Adynxx, the ability to project future cash utilization and reserves
needed for contingent future liabilities and business operations, the availability of sufficient resources for combined company
operations and to conduct or continue planned clinical development programs, the timing and ability of Alliqua or Adynxx to raise
additional equity capital to fund continued operations; the ability to successfully develop any of Adynxx's product candidates,
and the risks associated with the process of developing, obtaining regulatory approval for and commercializing drug candidates
that are safe and effective for use as human therapeutics. Risks and uncertainties facing Alliqua are described more fully in Alliqua's
periodic reports filed with the SEC available at www.sec.gov. You are cautioned not to place undue reliance on forward-looking
statements, which speak only as of the date on which they were made. Alliqua undertakes no obligation to update such statements
to reflect events that occur or circumstances that exist after the date on which they were made, except as may be required by law.</P>

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


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