Common use of Purchase of Option Shares Clause in Contracts

Purchase of Option Shares. Gentlemen: In accordance with my Stock Option Agreement dated as of December 13, 2000 ("Agreement") with GBI Capital Management Corp. (the "Company"), I hereby irrevocably elect to exercise the right to purchase _________ shares of the Company's common stock, par value $.0001 per share ("Common Stock"), which are being purchased for investment and not for resale. As payment for my shares, enclosed is (check and complete applicable box[es]): |_| a [personal check] [certified check] [bank check] payable to the order of "GBI Capital Management Corp." in the sum of $_________; |_| confirmation of wire transfer in the amount of $_____________; and/or |_| [IF PRIOR APPROVAL OF THE COMPANY HAS BEEN OBTAINED,] certificate for ____ shares of the Company's Common Stock, free and clear of any encumbrances, duly endorsed, having a Fair Market Value (as such term is defined in the Company's 1999 Performance Equity Plan) of $_________. I hereby represent, warrant to, and agree with, the Company that

Purchase of Option Shares. Gentlemen: In accordance with my Stock Option Agreement Agreement, dated as of December 13______, 2000 2021, with PAVmed Inc. ("Agreement") with GBI Capital Management Corp. (“Company”), under the "Company")’s 2014 Long-Term Incentive Equity Plan, I hereby irrevocably elect to exercise the right to purchase _____________ shares of the Company's ’s common stock, par value $.0001 per share ("“Common Stock"”), which are being purchased for investment and not for resale. As payment for my shares, enclosed is (check and complete applicable box[es]boxes): |_| [ ] a [[ ] personal checkcheck or [ ] [certified checkcheck or [ ] [bank check] check payable to the order of "GBI Capital Management Corp." “PAVmed Inc.” in the sum of $_____________; |_| [ ] confirmation of wire transfer in the amount of $_____________; and/or |_| [IF PRIOR APPROVAL OF THE COMPANY HAS BEEN OBTAINED,[ ] with the consent of the Company, a certificate for _____________ shares of the Company's ’s Common Stock, free and clear of any encumbrances, duly endorsed, having a Fair Market Value (as such term is defined in the Company's 1999 Performance 2014 Long-Term Incentive Equity Plan) of $_____________. I hereby represent, represent and warrant to, and agree with, the Company that:

Purchase of Option Shares. Gentlemen: In accordance with my Stock Option Agreement Agreement, dated as of December 13_____________, 2000 with Propel Media, Inc. ("Agreement") with GBI Capital Management Corp. (“Company”), under the "Company")’s 2014 Long-Term Incentive Equity Plan, I hereby irrevocably elect to exercise the right to purchase _____________ shares of the Company's ’s common stock, par value $.0001 per share ("“Common Stock"”), which are being purchased for investment and not for resale. As payment for my shares, enclosed is (check and complete applicable box[es]boxes): |_| ☐ a [☐ personal check] [check or ☐ certified check] [check or ☐ bank check] check payable to the order of "GBI Capital Management Corp." “Propel Media, Inc.” in the sum of $_____________; |_| ☐ confirmation of wire transfer in the amount of $_____________; and/or |_| [IF PRIOR APPROVAL OF THE COMPANY HAS BEEN OBTAINED,] ☐ with the consent of the Company, a certificate for _____________ shares of the Company's ’s Common Stock, free and clear of any encumbrances, duly endorsed, having a Fair Market Value (as such term is defined in the Company's 1999 Performance 2014 Long-Term Incentive Equity Plan) of $_____________. I hereby represent, represent and warrant to, and agree with, the Company that:

Purchase of Option Shares. Gentlemen: In accordance with my Stock Option Agreement Agreement, dated as of December 13_____________, 2000 with PAVmed Inc. ("Agreement") with GBI Capital Management Corp. (“Company”), under the "Company")’s 2014 Long-Term Incentive Equity Plan, I hereby irrevocably elect to exercise the right to purchase _____________ shares of the Company's ’s common stock, par value $.0001 per share ("“Common Stock"”), which are being purchased for investment and not for resale. As payment for my shares, enclosed is (check and complete applicable box[es]boxes): |_| [ ] a [[ ] personal checkcheck or [ ] [certified checkcheck or [ ] [bank check] check payable to the order of "GBI Capital Management Corp." “PAVmed Inc.” in the sum of $_____________; |_| [ ] confirmation of wire transfer in the amount of $_____________; and/or |_| [IF PRIOR APPROVAL OF THE COMPANY HAS BEEN OBTAINED,[ ] with the consent of the Company, a certificate for _____________ shares of the Company's ’s Common Stock, free and clear of any encumbrances, duly endorsed, having a Fair Market Value (as such term is defined in the Company's 1999 Performance 2014 Long-Term Incentive Equity Plan) of $_____________. I hereby represent, represent and warrant to, and agree with, the Company that:

Purchase of Option Shares. Gentlemen: In accordance with my Stock Option Agreement Agreement, dated as of December 13_____________, 2000 2016, with PAVmed Inc. ("Agreement") with GBI Capital Management Corp. (“Company”), under the "Company")’s 2014 Long-Term Incentive Equity Plan, I hereby irrevocably elect to exercise the right to purchase _____________ shares of the Company's ’s common stock, par value $.0001 per share ("“Common Stock"”), which are being purchased for investment and not for resale. As payment for my shares, enclosed is (check and complete applicable box[es]boxes): |_| [ ] a [[ ] personal checkcheck or [ ] [certified checkcheck or [ ] [bank check] check payable to the order of "GBI Capital Management Corp." “PAVmed Inc.” in the sum of $_____________; |_| [ ] confirmation of wire transfer in the amount of $_____________; and/or |_| [IF PRIOR APPROVAL OF THE COMPANY HAS BEEN OBTAINED,[ ] with the consent of the Company, a certificate for _____________ shares of the Company's ’s Common Stock, free and clear of any encumbrances, duly endorsed, having a Fair Market Value (as such term is defined in the Company's 1999 Performance 2014 Long-Term Incentive Equity Plan) of $_____________. I hereby represent, represent and warrant to, and agree with, the Company that:

Purchase of Option Shares. Gentlemen: In accordance with my Stock Option Agreement Agreement, dated as of December 13March 20, 2000 2017, with PAVmed Inc. ("Agreement") with GBI Capital Management Corp. (“Company”), under the "Company")’s 2014 Long-Term Incentive Equity Plan, I hereby irrevocably elect to exercise the right to purchase _____________ shares of the Company's ’s common stock, par value $.0001 per share ("“Common Stock"”), which are being purchased for investment and not for resale. As payment for my shares, enclosed is (check and complete applicable box[es]boxes): |_| ☐ a [☐personal check] [check or ¨ certified check] [check or ☐ bank check] check payable to the order of "GBI Capital Management Corp." “PAVmed Inc.” in the sum of $_____________; |_| ☐ confirmation of wire transfer in the amount of $_____________; and/or |_| [IF PRIOR APPROVAL OF THE COMPANY HAS BEEN OBTAINED,] ☐ with the consent of the Company, a certificate for _____________ shares of the Company's ’s Common Stock, free and clear of any encumbrances, duly endorsed, having a Fair Market Value (as such term is defined in the Company's 1999 Performance 2014 Long-Term Incentive Equity Plan) of $_____________. I hereby represent, represent and warrant to, and agree with, the Company that: