Common use of Reduction of Exercise Price Clause in Contracts

Reduction of Exercise Price. The Investor hereby agrees to exercise the entire Original Warrant by the Exercise Deadline by paying an exercise price which shall be one cent less than the closing price of the Company’s common stock (rounded to the nearest one cent increment), one day prior to the date of the Notice to Exercise dated March 23, 2018 (the “New Exercise Price”) of the Original Warrant, for each share of the Common Stock represented by the Original Warrant, which is approximately $615,000 in the aggregate ($0.41 per share), in immediately available lawful money of the United States (the “Exercise Proceeds”) to the Company and delivering the originally executed Original Warrant in accordance with the delivery instructions set forth in the Notice of Exercise attached hereto as Exhibit “A”. In connection with the exercise of the Original Warrant, the Investor will complete the Notice of Exercise attached hereto as Exhibit A. Within three days of the receipt of the Exercise Proceeds and Notice of Exercise, the Company will deliver the shares issuable upon the exercise of the Original Warrant to the Investor per the instructions set forth in the Notice of Exercise. Upon the receipt of the Notice of Exercise and Exercise Proceeds, the Original Warrant will be automatically cancelled. If by the Exercise Deadline of March 23, 2018, the Investor has not consummated the exercise of the Original Warrant, the Exercise Price of the Warrant shall revert to the Exercise Price set forth in the Original Warrant.