Formulaire SC 13D / A AYTU BIOSCIENCE, INC. Soumis par: ARMISTICE CAPITAL, LLC ◄ assurance santé entreprise

La mutuelle collective a les mêmes objectifs que la complémentaire santé individuelle : vise à compléter, en partie ou bien en totalité, mise de fonds de santé qui ne sont pas remboursées pendant la Sécurité sociale. Les salariés du secteur privé mais aussi employeurs sont concernés pendant la mutuelle collective, autrement appelée mutuelle d’entreprise ou bien mutuelle de groupe.

Rendues obligatoires à partir du premier janvier 2016, les mutuelles européen offrent de nombreux avantages pour salariés. Elles sont avant tout moins onéreuses que les complémentaires de santé individuelle. De plus, une part des cotisations est prise en charge selon l’entreprise.

Les employeurs ont pour objectif veiller à proposer à leurs salariés une mutuelle qui répond à un cahier des charges précis, prévu parmi le législateur.

Qui est à rêve desquels on parle parmi la mutuelle d’entreprise ?
Tous les employeurs du secteur privé devront avoir souscrit en or premier janvier 2016, une mutuelle communautaire pour leurs salariés. Sont ainsi concernées :
les TPE et PME
les grandes entreprises ou multinationales
loge
fédérations
Les ayants droit du salarié, famille ainsi qu’à enfants, également bénéficier de la mutuelle collective. Si le contrat le prévoit, elles peuvent y être affiliés.

A l’inverse, la mutuelle collective ne concerne pas le secteur public. Les fonctionnaires ne ainsi pas y prétendre. Les travailleurs non employés ne sont pas plus concernés. Pour couvrir leurs dépense de santé, elles s’orienter vers un contrat de prévoyance.

En principe, la mutuelle fédératif est obligatoire pour achevés les salariés. Sous plusieurs conditions, le salarié refuser de s’y soumettre.

Quelles dépense de santé la mutuelle fédératif rembourser ?
L’Accord national interprofessionnel (ANI) du 14 juin 2013, qui rend la mutuelle collective obligatoire, émane de la loi sur la sécurisation de l’emploi. L’objectif obligatoire est de permettre aux employés du clientèle privée d’accéder à une mutuelle de qualité. Ainsi, la mutuelle européen d’une entreprise assure un socle de garanties minimales, imaginés dans le législateur. Il s’agit :

de l’utilisation en charge de l’intégralité du mot modérateur pour consultations, les offres et actes de qui sont remboursés selon la Sécurité sociale
du remboursement de la totalité du forfait journalier hospitalier
de l’utilisation en charge des frais dentaires à hauteur de 125% du tarif conventionnel
de l’usage en charge des frais d’optique en bloc pendant période de 2 ans. Pour une correction simple, le minimum de prise en charge est fixé à 100 €
Ces garanties ont pour objectif obligatoirement figurer a l’intérieur du contrat de mutuelle collective. Il s’agit du panier de minimum. Légalement, l’employeur n’a pas le droit de offrir une mutuelle à qui garanties seraient inférieures à ce seuil de couverture. Il peut, en revanche, souscrire des garanties supplémentaires : une garantie d’assistance, une plus belle prise en charge pour l’optique et pourquoi pas le dentaire, le troisième payant… Le contrat de la mutuelle européen a aussi l’obligation d’être responsable.

Qui finance les cotisations de la mutuelle fédératif ?
Une partie des cotisations de la mutuelle collectif est prise en charge chez l’employeur (la part patronale). En cela, employés sont avantagés. L’employeur prend en charge en or moins 50% des cotisations de la mutuelle collective, pour la partie qui correspond or panier de minimum. Le reste des cotisations est à la charge de l’employé (la salariale).

Comment mettre à sa place la mutuelle collective obligatoire d’or sein de l’entreprise ?
Avant de souscrire une mutuelle d’entreprise, les employeurs ont la possibilité de soumettre choix aux représentants du personnel. Ils peuvent également organiser un référendum auprès de salariés. En cas d’échec des négociations, l’employeur souscrit une mutuelle communautaire sur décision unilatérale.

Employeurs, renseignez-vous à votre branche prostituée ! Ces dernières vous recommander des mutuelles européen intéressantes, parfaitement adaptées à votre secteur d’activité (construction, hôtellerie, restauration, agriculture…) Négociés par la branche professionnelle, les contrats de mutuelle sont couramment très avantageux.

Depuis le premier janvier 2016, offres de mutuelle européen sont nombreuses sur le marché. Petites, moyennes ou grandes entreprises : les médian en fermeté vous aider à trouver le contrat qui s’adapte le mieux à vos besoins. Contactez-nous !


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JOINT
ÉTATS

TITRES
ET LA COMMISSION DES ÉCHANGES

WASHINGTON,
DC 20549

HORAIRE
13D

1934 LOI SUR L'ÉCHANGE DE TITRES

(Amendement 5) *

Aytu bioscience, Inc.
(Nom de l'émetteur)

La valeur nominale des actions de la société est de 1 000 000 $ par action.
(Nom de la classe de titres)

Daniel Radden

a / s Armistice Capital LLC

510 Madison Avenue

7edes milliers Élevé

New York, NY 10022

Numéro de téléphone: 212-231-4930

(Nom, adresse et numéro de téléphone de la personne)
Autorisé à accepter

Notifications et notifications)

2020 14 février
(Date de l'événement nécessitant l'achèvement de ce rapport)

Si le déposant a déjà déposé une demande en vertu de l'annexe 13G pour déclarer une acquisition qui fait l'objet de la présente annexe 13D et fournit cette annexe pour les articles 240.13d-1 (e), 240.13d-1 (f) ou 240.13 d-1 (g), cochez cette case (_).
* Le reste de cette page de titre est complété par le formulaire de demande initial de l'entité déclarante pour ce formulaire, sous réserve de la catégorie thématique sur les titres, et pour toute modification ultérieure contenant des informations susceptibles de modifier les informations de la page de titre précédente.



N ° CUSIP
054754700

1. NOM DES PERSONNES NOTIFIÉES
I.R.S. IDENTIFICATION N °. CES PERSONNES (NOTES UNIQUEMENT)
Armistice Capital, LLC

2. COCHEZ LA BONNE CASE SI LES MEMBRES SONT DANS LE GROUPE a) (_)
b) (_)

3. SECTEUR SEULEMENT

4. SOURCE DE FONDS
AF

5. BOÎTE D'INSPECTION POUR LA DIVULGATION EN VERTU DES PARAGRAPHES 2 (d) OU 2 (e) (_)

6e CITOYENNETÉ OU LIEU D'ORGANISATION
Delaware

ACTIONS AVEC LE CONTENU REQUIS POUR CHAQUE NOTIFICANT

7e UN VOTE
0

8e POUVOIR GÉNÉRAL DE VOTE
12,362,140

9e AUGMENTER LA FORCE POSITIVE
0

10e RÉPARTITION DU POUVOIR DES POSITIONS
12,362,140

11e MONTANT TOTAL DISPONIBLE POUR CHAQUE PERSONNE DÉCLARANTE
12,362,140

12e Cochez la case s'il y a des ACTIONS SPÉCIALES EXCEPTIONNELLES d'affilée (11) (_)

13e Pourcentage de classes représentées par des lignes (11)
40,0%

14e TYPE DE RAPPORTS
IA, OO



N ° CUSIP
054754700

1. NOM DES PERSONNES NOTIFIÉES
I.R.S. IDENTIFICATION N °. CES PERSONNES (NOTES UNIQUEMENT)
Armistice Capital Master Fund Ltd.

2. COCHEZ LA BONNE CASE SI LES MEMBRES SONT DANS LE GROUPE a) (_)
b) (_)

3. SECTEUR SEULEMENT

4. SOURCE DE FONDS
Toilette

5. BOÎTE D'INSPECTION POUR LA DIVULGATION EN VERTU DES PARAGRAPHES 2 (d) OU 2 (e) (_)

6e CITOYENNETÉ OU LIEU D'ORGANISATION
Îles Caïmans

ACTIONS AVEC LE CONTENU REQUIS POUR CHAQUE NOTIFICANT

7e UN VOTE
0

8e POUVOIR GÉNÉRAL DE VOTE
12,362,140

9e AUGMENTER LA FORCE POSITIVE
0

10e RÉPARTITION DES POUVOIRS POSITIFS
12,362,140

11e MONTANT TOTAL DISPONIBLE POUR CHAQUE PERSONNE DÉCLARANTE
12,362,140

12e Cochez la case s'il y a des ACTIONS SPÉCIALES EXCEPTIONNELLES d'affilée (11) (_)

13e Pourcentage de classes représentées par des lignes (11)
40,0%

14e TYPE DE RAPPORTS
CO



N ° CUSIP
054754700

1. NOM DES PERSONNES NOTIFIÉES
I.R.S. IDENTIFICATION. CES PERSONNES (NOTES UNIQUEMENT)
Steven Boyd

2. COCHEZ LA BONNE CASE SI LES MEMBRES SONT DANS LE GROUPE a) (_)
b) (_)

3. SECTEUR SEULEMENT

4. SOURCE DE FONDS
AF

5. BOÎTE D'INSPECTION POUR LA DIVULGATION EN VERTU DES PARAGRAPHES 2 (d) OU 2 (e) (_)

6e CITOYENNETÉ OU LIEU D'ORGANISATION
États-Unis d'Amérique

ACTIONS QUI PEUVENT CONTENIR UN CONTENU QUI DEVRAIT AVOIR CHAQUE NOTIFICATION

7e UNE PUISSANCE DE VOTE
0

8e POUVOIR GÉNÉRAL DE VOTE
12,362,140

9e AUGMENTER LA FORCE POSITIVE
0

10e RÉPARTITION DU POUVOIR DES POSITIONS
12,362,140

11e MONTANT TOTAL DISPONIBLE POUR CHAQUE PERSONNE DÉCLARANTE
12,362,140

12e Cochez la case s'il y a des ACTIONS SPÉCIALES EXCEPTIONNELLES d'affilée (11) (_)

13e Pourcentage de classes représentées par des lignes (11)
40,0%

14e TYPE DE RAPPORTS
IN, HC

N ° CUSIP 054754700

Point 1. Sécurité et émetteur.

Le nom de l'émetteur est Aytu Bioscience,
Inc., une société du Delaware (l '"émetteur"). Le siège social de l'émetteur est le 373 Inverness
Parkway, Suite 206, Englewood, Colorado 80112. 5 concerne la valeur nominale des actions ordinaires de l'émetteur.
.0001 par action (les «promotions»).

Point 2. Identité et circonstances.

a), f) Les personnes qui font la déclaration suivante: (i) Armistice Capital, LLC, Delaware Limited Liability Company (Armistice Capital); (ii) Armistice Capital Master Fund Ltd., une société des îles Caïmans (le «Master Fund»); et (iii) Steven Boyd, citoyen des États-Unis d'Amérique ("M. Boyd", conjointement avec Armistice Capital et les principaux reporters).
b), c)

Armistice Capital est un conseiller en placement
enregistré auprès de la Securities and Exchange Commission, qui exerce des activités de gestion des investissements
services de placement privé, y compris le fonds maître. La principale adresse commerciale d'Armistice Capital est le 510
Madison Avenue, 7thdes milliers Étage, New York, New York 10022.

Le fonds principal est principalement engagé dans:
entreprise investissant dans des titres. L'adresse commerciale principale du Fonds maître est cms oms Corporate Services Ltd., 20 Genesis
Fermer, P.O. Box 314, Grand Cayman KY1-1104, Cayman Islands. Le conseil d'administration du Fonds principal est composé de Steven Boyd,
Kevin A. Phillip et Gregory S. Bennett.

Steven Boyd est un membre éminent du courtage
Directeur du capital et du fonds principal. L'adresse professionnelle de M. Boyd est 510 Madison Avenue, 7thdes milliers Floor, New York,
New York 10022.

(d) Aucun des contributeurs n'a été poursuivi au cours des cinq dernières années (à l'exception des délits de la route ou des délits similaires).
e) Aucun des contributeurs n'a participé aux procédures civiles d'un tribunal ou d'une autorité administrative d'une juridiction compétente au cours des cinq dernières années et a fait ou fait l'objet d'un jugement, d'un décret ou d'une ordonnance définitive à venir. violer, interdire ou obliger toute activité soumise aux lois fédérales ou d'État sur les valeurs mobilières ou constater toute violation de ces lois.

Point 3. Source et montant des fonds ou autres circonstances.
Les fonds pour l'achat de 12 362 140 actions effectivement détenues par les déclarants ont été reçus du fonds de roulement du fonds parent, qui est l'actionnaire direct. Aucun fonds emprunté n'a été utilisé pour acheter les actions, à l'exception des prêts qui ont été utilisés à des fins de fonds de roulement (y compris certains leviers) dans le cours normal des affaires.

Point 4. Objet de la transaction.

2020 14 février Émetteur et Innovus
Pharmaceuticals, Inc. (Innovus) a conclu la fusion («Fusion»). Conformément aux conditions de la fusion,
chaque action ordinaire d'Innovus émise et en circulation immédiatement avant la fusion a été automatiquement émise
convertibles en: (i) actions; (ii) encaisse à l'émission de fractions d'actions; et (iii) valeur contingente non transférable
(«CVR») vous donnant droit à certains paiements sous forme d'actions supplémentaires et / ou
certaines étapes du chiffre d'affaires et de la rentabilité ont été franchies. Avec 300 000 actions ordinaires d'Innovus
À la date de prise d'effet de la fusion, le fonds maître qui a reçu dans le cadre de la fusion: (i) 335 279 actions; (ii) à la place
émission d'actions partielles; et (iii) 300 000 CVR.

Avant la fusion, il existait également un fonds maître
titulaire de certains bons de souscription Innovus (collectivement, les «bons de souscription») et avaient le droit de recevoir de
espèces pour les bons de souscription liés à la fusion. 2020 14 février Fonds leader, émetteur et Innovus
dans un contrat d'échange de bons de souscription par lequel le fonds sous-jacent a accepté l'échange
ses bons de souscription d'une valeur nominale de 0,0001 $ par action pour 1 918 587 émetteurs d'actions privilégiées convertibles de série H (
«Actions privilégiées de série H»). Les actions éligibles de la série H n'ont pas de date d'expiration et sont converties en 1 918 587
Les Actions à tout moment, au gré du Fonds Principal, ont un prix de conversion de 1,00 $ (le "Prix de Conversion"); si,
toutefois, le fonds maître est assujetti à une disposition de blocage qui l'empêche de convertir des actions privilégiées de série H si
après une telle conversion, il serait propriétaire effectif supérieur à 40%. Le coût de conversion peut être ajusté
en cas de fractionnement d'actions, de dividendes en actions, de regroupements d'actions et d'opérations de recapitalisation similaires, ainsi qu'en cas d'anti-dilution
les dispositions énoncées dans le certificat de cession de l'émetteur des privilèges, droits et limitations de la série H
Stocks (H Series COD).

C'était un résumé de certains documents
(i) les termes de l'échange de commande; et (ii) DCO série H. Ce qui précède n'est pas et ne le crois pas
être complet et, sauf indication contraire ci-dessus, être qualifié dans son intégralité, en tenant compte du texte intégral des formulaires
les documents qui ont été enregistrés en tant que modèles B et C respectivement de ce document et sont incorporés ici par référence.

M. Boyd est actuellement
Le Conseil de l'Emetteur (ci-après le Conseil).

Reporters a acheté les actions
investir dans ses activités d'investissement normales en se fondant sur la conviction des déclarants que les actions,
lorsqu'ils étaient achetés, ils étaient sous-évalués et constituaient une opportunité d'investissement intéressante. Les journalistes ont l'intention de revoir leur propre
investissement dans l'émetteur. Sous réserve de divers facteurs, notamment, mais sans s'y limiter, l'émetteur
situation financière, niveau des cours des actions, conditions boursières et conditions économiques et industrielles générales,
Les agents déclarants peuvent, à l'avenir, prendre les mesures qu'ils jugent appropriées concernant leur investissement dans l'émetteur
y compris, sans s'y limiter, la communication avec la direction et / ou le conseil d'administration, les discussions avec les actionnaires
informer l'émetteur et les autres personnes des investissements effectués par l'émetteur et les déclarants, en modifiant la stratégie d'entreprise de l'émetteur,
recommander des accords de développement des affaires, proposer des changements à la gestion, aux opérations et à la structure du conseil d'administration (y compris
composition du conseil), acheter des actions supplémentaires, vendre tout ou partie de leurs actions, vendre des titres à court terme
ou toute opération de couverture ou similaire relative aux Actions ou tout changement dans leur intention en ce qui concerne toutes les questions
visées à l'annexe 13D, paragraphe 4, points a) à j).

Sauf indication contraire, déclaration
Les individus n'ont pas de plans ou de suggestions actuels concernant ou déterminant les questions énoncées dans les paragraphes
Annexe 13D, paragraphe 4, points a) à j). Toutefois, sous réserve des conditions du marché et conformément aux lois sur les valeurs mobilières applicables,
les agents déclarants se réservent le droit d'effectuer une ou plusieurs de ces modifications ou opérations à une date ultérieure
Actions pouvant être considérées comme effectivement exercées sur le marché libre ou dans des transactions privées à ces conditions
comme le pensent les conseillers.

Point 5. Intérêt dans les titres de l'émetteur.
(Publicité)

A cette date, chaque rapport
Le propriétaire effectif de 12 362 140 actions représentant 40,0% du stock, soit 30 305 351 actions, peut être considéré comme un particulier.
Actions en circulation à compter de cette date, ajustées des bons de souscription de l'émetteur qui sont effectivement détenus par les agents déclarants. Tout le monde
L'exception des déclarants a le pouvoir exclusif de voter ou de voter directement sur 0 action et le pouvoir général de voter ou de voter directement
de 12 362 140 actions. Chacun des déclarants a le droit exclusif de disposer ou de disposer de 0 actions et
12 362 140 actions ordinaires pour aliéner ou transférer.

Sauf pour les transactions décrites au point 1
Comme indiqué au point 4, les agents déclarants n'avaient exécuté aucun stock au cours des soixante derniers jours.

e) Sans objet

Point 6.

Contrats, accords, ententes ou relations de respect
Titres de l'émetteur.

Les informations visées au point 4 sont
l'ensemble du point est couvert par ce point 6.

En plus des actions effectivement détenues
Déclarants, le fonds parent détient actuellement: (i) 5 000 000 d’actions de la série émettrice
Actions privilégiées convertibles F («Actions privilégiées de série F») dont la disposition de blocage empêche l'utilisateur principal
Le Fonds convertit ses actions privilégiées de série F s'il devient par la suite un propriétaire véritable de plus de 40%
conversion (ii) 4 314 578 qui sont actuellement disponibles pour les bons de souscription d'émetteur soumis à des dispositions de blocage excluant l'émetteur principal
Le Fonds exerçant le bon de souscription si, après une telle utilisation, plus de 4,99% serait le propriétaire véritable des actions;
et (iii) 9 403 409 bons de souscription supplémentaires actuellement en vigueur, sous réserve de dispositions de blocage empêchant l'investisseur principal
Un fonds qui a exercé des bons de souscription si, après une telle utilisation, le bénéficiaire effectif des actions est supérieur à 40%.

Les journalistes n'ont pas de contrat,
accord, entente ou relation avec toute personne concernant les titres de l'émetteur non décrits dans les présentes
ou l'annexe 13D précédente fournie par les émetteurs aux agents déclarants.

Point 7. Matériel à remplir comme pièces à conviction.

Exemple A: Accord de dépôt conjoint

Pièce B: Formulaire
Accord d'échange de bons de souscription

Pièce C: Formulaire
Série H COD

SIGNATURE

Après une enquête motivée
et au meilleur de ma connaissance et de ma conviction, je certifie que les informations contenues dans cette déclaration sont vraies, complètes et correctes.

2020 20 février
(Date)

Armistice Capital, LLC *
Par: /s / Steven Boyd

Nom: Steven Boyd

Titre: membre directeur

Armistice Capital Master Fund Ltd.
Par: / s / Steven Boyd

Nom: Steven Boyd

Fonction: Director

Steven Boyd *
/ s / Steven Boyd

* Un journaliste refuse un avantage
ne détient aucun des titres déclarés autres que ses intérêts financiers et le présent rapport ne
est réputé être une admission que cette personne est le propriétaire véritable de ces titres en vertu de l'article 16 des valeurs mobilières américaines.
1934 Loi sur les échanges telle que modifiée ou à toute autre fin.

Attention: il s'agit d'anomalies ou d'omissions intentionnelles
Délits fédéraux (voir 18 U.S.C.1001).

L'exposition

L'ACCORD

Les soussignés conviennent
cette liste 13D faite en 2020 Amendement n. 5 liés aux valeurs ordinaires d'Aytu.
Bioscience, Inc. déposée au nom des signataires.

2020 20 février
(Date)

Armistice Capital, LLC
Par: /s / Steven Boyd

Nom: Steven Boyd

Titre: membre directeur

Armistice Capital Master Fund Ltd.
Par: / s / Steven Boyd

Nom: Steven Boyd

Fonction: Director

Steven Boyd
/ s / Steven Boyd

Exposition B

ACCORD D'ÉCHANGE DE GARANTIE

CET ACCORD D'ÉCHANGE DE GARANTIE
(ce "Accord") Innovus Pharmaceuticals est fabriqué et efficace à partir de 2020. 14 février
Inc., une société du Nevada ( "Société"), Aytu Bioscience Inc., une société du Delaware (l '"acheteur"),
et Armistice Capital Master Fund, Ltd. (titulaire).

ATTENDU QUE l'entreprise avant
a octroyé au titulaire un ou plusieurs des bons de souscription indiqués à l'annexe A du présent document («Garanties") en vertu duquel le propriétaire
a le droit d'acquérir certains titres de participation de la Société;

CONSIDÉRANT qu’une entreprise et
L'acheteur a un accord et un plan de fusion ("L'accord de fusion") En vertu duquel il est envisagé
que la filiale du souscripteur fusionnera avec et dans la société une fois que la société aura survécu et deviendra une filiale à 100%
acheteur en aval ("La fusion");

QUAND l'Acheteur a l'intention
pour créer une nouvelle série d’actions privilégiées appelées actions privilégiées de série H d’une valeur nominale de 0,0001 $ par action («De préférence
Stocks
») Jouissent des droits et privilèges énoncés à l'annexe B du présent règlement; et

ATTENDU QUE, en termes de
suivant la Fusion et sous réserve des termes du présent Contrat, la Société, l'Acheteur et le Propriétaire
au titulaire d’échanger les bons de souscription et les droits et obligations qui en découlent contre les actions privilégiées («Échanges
Les promotions
").

MAINTENANT, C'EST DANS LA LUMIÈRE
un reçu pour les locaux et les accords et obligations qui s'y trouvent, et pour toute autre considération valable et valable
et dont la suffisance est reconnue, les parties conviennent de ce qui suit:

1. Calcul
du nombre d'actions en échange

a) à
détermine le nombre d'actions échangeables à livrer en échange d'un bon de souscription donné, la valeur de Black Scholes
en ce qui concerne l'annexe A de ce mandat (comme convenu entre les parties et accepté par les parties peut différer de la formule donnée)
dans tout mandat particulier déterminant la valeur des étudiants noirs) sera divisé par la valeur de l'action (telle que définie ci-dessous).
Le résultat de ce calcul sera fourni par l'Acheteur à l'Annexe A, qui prendra effet et sera définitive
détermine le nombre d'actions à émettre en vertu de ce bon de souscription.

b) Concernant
aux fins du présent accord, "Valeur par action" La valeur des actions d'échange est le prix d'achat final
des actions ordinaires du Nasdaq le dernier jour de bourse avant la date d'entrée en vigueur.

2. Échanges
mandats

a) À
ou avant la date d'entrée en vigueur (telle que définie dans l'accord de fusion), sous réserve des conditions énoncées à l'article 7
présente des mandats et tous droits, accords, certificats ou documents s'y rapportant (ensemble, Droits de garantie) à l'acheteur en échange d'un échange de tous ces mandats ( "Échanges").

(chauve-souris
Sous réserve des conditions énoncées à l'article 6, les garanties, avec les droits de garanties, entreront en vigueur
sont réputés retirés, résiliés et ont expiré, cessent d'être valables à tous égards,
et ne se qualifie plus pour les capitaux propres de la société, le remboursement en espèces ou toute autre contrepartie
(ou toute autre personne). À ce moment, l'acheteur doit donner des instructions à l'émetteur "Agent de transfert")
d'émettre et de remettre au porteur les actions de la Bourse.

c) Concernant
pour éviter tout doute, toutes les parties conviennent que le présent accord constitue une renonciation à tous les droits du titulaire en vertu des bons de souscription.
au moment de la fusion, y compris le droit de recevoir un paiement en espèces dans le cadre de la transaction sous-jacente (telle que définie à
mandats).

3. Résiliation
échec du contrat de clôture.
Si l'accord de fusion est résilié sans
La Fusion aura lieu, alors le présent Contrat sera nul et non avenu et ne sera plus pleinement en vigueur, ab initio, Warrants
restera impayé selon ses termes, l'Acheteur n'émettra pas d'actions de la Bourse et aucune des parties n'a de droits
à toute autre partie.

4. Représentations
de Holder.

a) le propriétaire
déclare et garantit à l'acheteur que:

(i) le titulaire
disposer du pouvoir et de l'autorité nécessaires pour conclure le présent accord, améliorer l'échange et mener des opérations
et les obligations du titulaire.

(ii) le propriétaire
a dûment et légalement exécuté et livré le présent accord et cet accord constitue une obligation valide et juridiquement contraignante
opposable au titulaire en vertu de ses conditions.

(iii) le propriétaire
est le propriétaire véritable enregistré, le propriétaire véritable et détient la propriété valide et négociable des options qu'il échange en vertu du présent
Accord, gratuit et sans limitations, engagements, restrictions ou autres obstacles (sauf dans les cas où les restrictions s'appliquent
lois sur les valeurs mobilières), et ont le droit absolu et illimité, le pouvoir et la capacité de renoncer et de remplacer les bons de souscription
seront échangés librement et sans aucune restriction, engagement, restriction ou autre charge en vertu du présent Accord. Ce n'est pas une fête
ne sont pas ou sont contraignants et les mandats qu'il échange en vertu du présent accord ne sont pas

tout arrangement, compréhension
ou autrement (i) accorder à toute personne une option, un mandat ou un droit de refus d'accorder le mandat ci-dessus, (ii)
restreindre son droit de refuser et d'échanger des mandats en vertu du présent accord; ou (iii) restreindre tout autre
pour ses mandats de droits.

5. Représentations
entreprises.

a)
La Société garantit et garantit au Propriétaire et à l'Acheteur que:

i)
La Société a le pouvoir et l'autorité nécessaires et la permission de la Société pour exécuter et faire respecter le présent Accord
les obligations de cette société et ces transactions ne violeront aucune obligation contractuelle, réglementaire, statutaire ou autre
une obligation ou une restriction imposée à l'entreprise.

(ii)
Cet accord a été dûment et légalement exécuté et délivré par la société, et cet accord est valide et juridiquement contraignant
Une obligation de la Société opposable à la Société en vertu de ses termes.

b)
la description des bons de souscription à l'annexe A est conforme aux registres de la société et aux documents de la société
Le porteur est conscient que les warrants ou autres titres liés à des actions de la Société ne sont pas simplement des actions ordinaires des actions ordinaires
actions.

6e Représentations
l'acheteur.

a) Acheteur
déclare et garantit au propriétaire et à la Société que:

i) Acheteur
avoir le pouvoir et l'autorité nécessaires et la permission de la Société pour exécuter et livrer le présent accord, pour établir l'échange
et pour effectuer les opérations décrites dans ce document et pour remplir les obligations de l'acheteur en vertu du présent accord.

(ii) Acheteur
a dûment et légalement exécuté et livré le présent accord et cet accord constitue une obligation valide et juridiquement contraignante
Applicable à l'acheteur par l'acheteur conformément à ses conditions.

(iii) Tous
les actions de la bourse et tous les titres sous-jacents à cette bourse seront enregistrés avec effet au
Le formulaire de fusion et le prospectus S-4 seront déposés auprès du propriétaire lors de la publication du formulaire S-4.
par la Securities and Exchange Commission ( "Prospectus").

7e Les conditions
jusqu'à la fermeture.

a) Les conditions
aux obligations du titulaire.
L'obligation du titulaire de conclure l'échange sera préalablement libérée
à la fusion ou à proximité de celle-ci dans chacune des conditions suivantes:

(i) les déclarations et garanties de chaque entreprise et acheteur dans ce contrat doivent être véridiques et équitables
matériel

respecte cette date et l'heure à laquelle elle prend effet comme si elle avait été conclue le même jour.

(ii) Non.
une poursuite, une procédure, une enquête, un règlement ou une loi doit être poursuivi, menacé ou poursuivi devant un tribunal,
réclamer, limiter, interdire ou causer un préjudice grave à un organisme gouvernemental ou à un organisme gouvernemental ou législatif,
le présent Accord et / ou l'Accord de Fusion ou la réalisation et / ou la fusion des transactions prévues dans cet Accord
Accord.

(iii) Tous
dossiers relatifs aux transactions envisagées dans le présent document et tous les documents et documents relatifs à ces transactions
le titulaire doit être satisfait de son contenu et de sa forme et le propriétaire doit avoir reçu de tels originaux équivalents ou
des copies certifiées conformes des documents qui peuvent être raisonnablement demandés.

(iv) Acheteur
remettra au secrétaire d'État du Delaware un certificat de nomination énonçant les droits et privilèges de la Bourse
Les actions sont fournies à l'annexe B du présent document.

v) Acheteur
fournir au porteur une copie du Prospectus relatif aux Actions de la Bourse et de tout titre sous-jacent à ces Actions de la Bourse
après que la Securities and Exchange Commission a émis une déclaration de dépôt valide sur le formulaire S-4 dans le cadre de la fusion.

b) Les conditions
obligations de l'entreprise et de l'acheteur.
Il est du devoir de la Société et de l'Acheteur d'établir la Bourse
dépend de la performance basée sur la satisfaction de chaque entreprise et acheteur avant ou à
Durée effective pour chacune des conditions suivantes:

i)
Les déclarations et garanties du propriétaire dans le présent accord sont vraies et correctes à tous égards importants.
et la date d'entrée en vigueur, comme si elle avait été faite à cette date.

(ii) Non.
une poursuite, une procédure, une enquête, un règlement ou une loi doit être poursuivi, menacé ou poursuivi devant un tribunal,
réclamer, limiter, interdire ou causer un préjudice grave à un organisme gouvernemental ou à un organisme gouvernemental ou législatif,
Achèvement du présent accord ou opérations dans le cadre du présent accord.

(iii) Tous
dossiers relatifs aux transactions envisagées dans le présent document et tous les documents et documents relatifs à ces transactions
doivent être satisfaits de leur contenu et de leur forme pour chaque entreprise et chaque acheteur, et chaque entreprise et chaque acheteur doit
a reçu toute copie originale ou certifiée conforme ou toute autre copie de cette documentation fournie par la Société ou l'Acheteur,
peut demander.

(iv)
La fusion doit être réalisée conformément aux termes de l'accord de fusion.

8e Honoraires
Responsabilité.
Le titulaire reconnaît que le titulaire, ainsi que ses propres conseillers juridiques et fiscaux, a examiné les autorités fédérales, étatiques et locales
les conséquences fiscales du présent accord et les transactions couvertes par cet accord. Le titulaire s'appuie uniquement sur ces conseillers
et non sur les déclarations ou déclarations faites par la Société ou l'Acheteur ou leurs agents ou conseillers professionnels respectifs,
et comprend que le titulaire (et non la société ou l'acheteur) est redevable de l'obligation fiscale du titulaire lui-même en raison de
en ce qui concerne les transactions couvertes par le présent accord.

9e Divers.
Sauf disposition contraire dans le présent Accord, les termes de cet Accord sont bénéfiques et obligatoires pour eux
les héritiers et ayants droit respectifs des parties. Rien dans cet accord n'est explicite ou implicite
toute partie autre que les parties au présent accord ou leurs héritiers respectifs et cédant tous droits, recours, obligations ou responsabilités
sauf disposition expresse contraire du présent accord. Le présent accord est régi et interprété
conformément aux lois de l'État du Delaware, applicables aux accords entre les résidents du Delaware, conclus et exécutoires entièrement dans l'État
État du Delaware. Ce contrat peut être exécuté en double exemplaire ou par fax, dont chacun:
sont réputés être l'original, mais ils constituent ensemble un seul et même document. Si une ou plusieurs de ces dispositions
L'accord sera réputé inapplicable en vertu de la loi applicable, et ces dispositions et le solde ne s'appliqueront pas à ces dispositions
La clause de l'accord sera interprétée comme de telles exceptions et sera exécutoire conformément à ses termes.
Le présent accord ne sera pas considéré ou interprété comme modifié ou refusé, en tout ou en partie, sauf par une modification écrite signée
par entreprise, acheteur et propriétaire. Cet accord couvre l'intégralité de l'accord et de l'entente entre l'entreprise, l'acheteur et
Le titulaire remplacera tous les accords, obligations, accords et négociations antérieurs concernant l'objet du présent accord.
ou des accords oraux, écrits, explicites ou implicites entre l'entreprise, l'acheteur et le propriétaire. Si
toute partie engagera une procédure judiciaire pour faire valoir ses droits en vertu du présent accord et non la ou les parties en vigueur
l'action remboursera à la partie gagnante tous ces frais et dépenses (y compris les avocats raisonnables & # 39;
honoraires et frais) encourus dans le cadre de cette action.

(La page de signature suit)

EN FOI DE QUOI, les parties aux présentes
avoir signé le présent contrat d'échange de bons de souscription à la date indiquée en premier lieu ci-dessus.

L'ENTREPRISE:
INNOVUS PHARMACEUTICALS, INC.
Par: / s / Bassam Dama
Nom: Bassam Damaj
Vous-même: Président et chef de la direction

(Page de signature au contrat d'échange de mandat)

EN FOI DE QUOI, les parties aux présentes
avoir signé le présent contrat d'échange de bons de souscription à la date indiquée en premier lieu ci-dessus.

ACHETEUR:
AYTU BIOSCIENCE INC.
Par: / s / Joshua Disbrow – 13/02/2020
Nom: Joshua Disbrow
Vous-même: Président-directeur général

(Page de signature au contrat d'échange de mandat)

EN FOI DE QUOI, les parties aux présentes
avoir signé le présent contrat d'échange de bons de souscription à la date indiquée en premier lieu ci-dessus.

TITULAIRE:
ARMISTICE CAPITAL MASTER FUND LTD.
Par: / s / Steven Boyd
Nom: Steven Boyd
Titre: Directeur des investissements d'Armistice Capital, LLC, le Gestionnaire d'investissement

(Page de signature au contrat d'échange de mandat)

ANNEXE A

Calendrier des mandats

Nom du titulaire du mandat, date et
Mandat
Nombre de
actions pouvant être émises
à l'exercice
de mandat
Mandat
Scholes noirs
Valeur
Nombre d'actions
d'actions privilégiées
à délivrer en
Échange

Armistice Capital Master Fund, Ltd. Série A
Bon de souscription d'actions ordinaires émis le 3 janvier 2019

431 490 65 734 86 950

Armistice Capital Master Fund, Ltd. Série B
Bon de souscription d'actions ordinaires émis le 3 janvier 2019

431 490 813,926 1 076 621

Armistice Capital Master Fund, Ltd. Séries
C Bon de souscription d'actions ordinaires préfinancé

Émis le 3 janvier 2019

200,637 570,792 755 016

ANNEXE B

Formulaire de certificat de désignation pour la série
Actions privilégiées H

AYTU BIOSCIENCE, INC.

CERTIFICAT DE DÉSIGNATION DES PRÉFÉRENCES,
DROITS ET LIMITATIONS
DE
STOCK PRÉFÉRÉ CONVERTIBLE SÉRIE H

EN VERTU DE L'ARTICLE 151 DE LA
DROIT GÉNÉRAL DE LA SOCIÉTÉ DELAWARE

Les soussignés, Joshua R. Disbrow et David
A. Vert, le support certifie-t-il que:

1. Ils
sont respectivement le président et le secrétaire d’Aytu BioScience, Inc., une société du Delaware (la "Société").

2. Le
La Société est autorisée à émettre 50 000 000 d'actions privilégiées, dont 3 444 981 ont été émises.

3. Le
les résolutions suivantes ont été dûment adoptées par le conseil d’administration de la Société (le Conseil d'administration):

ATTENDU QUE le certificat
of incorporation of the Corporation provides for a class of its authorized stock known as preferred stock, consisting of 50,000,000
shares, $0.0001 par value per share, issuable from time to time in one or more series;

WHEREAS, the Board of Directors
is authorized to fix the dividend rights, dividend rate, voting rights, conversion rights, rights and terms of redemption and liquidation
preferences of any wholly unissued series of preferred stock and the number of shares constituting any series and the designation
thereof, of any of them; et

WHEREAS, it is the desire
of the Board of Directors, pursuant to its authority as aforesaid, to fix the rights, preferences, restrictions and other matters
relating to a series of the preferred stock, which shall consist of up to (●) shares of the preferred stock which the Corporation
has the authority to issue, as follows:

NOW, THEREFORE, BE IT RESOLVED,
that the Board of Directors does hereby provide for the issuance of a series of preferred stock for cash or exchange of other securities,
rights or property and does hereby fix and determine the rights, preferences, restrictions and other matters relating to such series
of preferred stock as follows:

TERMS OF PREFERRED STOCK

Section 1. Definitions.
For the purposes hereof, the following terms shall have the following meanings:

“Affiliate”
means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common
control with a Person, as such terms are used in and construed under Rule 405 of the Securities Act.

“Alternate Consideration” shall
have the meaning set forth in Section 7(d). “Beneficial Ownership Limitation” shall have the meaning set forth
in Section 6(d).

“Business Day”
means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or any day
on which banking institutions in the State of New York are authorized or required by law or other governmental action to close.

“Buy-In”
shall have the meaning set forth in Section 6(c)(iv).

“Commission” means the United
States Securities and Exchange Commission.

“Common Stock”
means the Corporation’s common stock, par value $0.0001 per share, and stock of any other class of securities into which
such securities may hereafter be reclassified or changed.

“Common Stock Equivalents”
means any securities of the Corporation or the Subsidiaries which would entitle the holder thereof to acquire at any time Common
Stock, including, without limitation, any debt, preferred stock, rights, options, warrants or other instrument that is at any time
convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock.

“Conversion Amount” means the
sum of the Stated Value at issue.

“Conversion Date” shall have the meaning set forth in Section 6(a).

“Conversion Price” shall have the meaning set forth in Section 6(b).

“Conversion Shares”
means, collectively, the shares of Common Stock issuable upon conversion of the shares of Preferred Stock in accordance with the
terms hereof.

“Exchange Act”
means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

“Fundamental Transaction”
shall have the meaning set forth in Section 7(d). “GAAP” means United States generally accepted accounting principles.
“Holder” shall have the meaning given such term in Section 2.

“Liquidation” shall have the
meaning set forth in Section 5.

“New York
Courts”
shall have the meaning set forth in Section 8(d). “Notice of Conversion” shall have the meaning
set forth in Section 6(a).

“Original Issue
Date”
means the date of the first issuance of any shares of the Preferred Stock regardless of the number of transfers
of any particular shares of Preferred Stock and regardless of the number of certificates which may be issued to evidence such Preferred
Stock.

“Person”
means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

“Preferred Stock” shall have
the meaning set forth in Section 2.

“Securities Act”
means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

“Share Delivery Date” shall
have the meaning set forth in Section 6(c).

“Stated Value”
shall have the meaning set forth in Section 2, as the same may be increased pursuant to Section 3.

“Successor Entity” shall have
the meaning set forth in Section 7(d).

“Trading Day” means a day on
which the principal Trading Market is open for business.

“Trading Market”
means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date in question:
the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market or the New York Stock Exchange
(or any successors to any of the foregoing).

“Transfer Agent”
means Issuer Direct Corporation, the current transfer agent of the Corporation with a mailing address of 500 Perimeter Park Drive,
Suite D, Morrisville, NC 27560 and a facsimile number of (919) 481-6222, and any successor transfer agent of the Corporation.

“VWAP”
means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed
or quoted on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest preceding
date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a Trading
Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if OTCQB or OTCQX is not a Trading Market, the
volume weighted average price of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable,
(c) if the Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Stock are then
reported in the “Pink Sheets” published by OTC Markets, Inc. (or a similar organization or agency succeeding to its
functions of reporting prices), the most recent bid price per share of the Common Stock so reported, or (d) in all other cases,
the fair market value of a share of Common Stock as determined by an independent appraiser selected in good faith by the Holders
of a majority in interest of the Preferred Stock then outstanding and reasonably acceptable to the Corporation, the fees and expenses
of which shall be paid by the Corporation.

Section 2. Designation,
Amount and Par Value.
The series of preferred stock shall be designated as Series H Convertible Preferred Stock (the “Preferred
Stock”)
and the number of shares so designated shall be up to (●) (which shall not be subject to increase without
the written consent of all of the holders of the Preferred Stock (each, a “Holder” and collectively, the “Holders”)).
Each share of Preferred Stock shall have a par value of $0.0001 per share and a stated value equal to $(●), subject to increase
set forth in Section 3 below (the “Stated Value”). The Preferred Stock will initially be issued in book-entry
form. As between the Corporation and a beneficial owner of Preferred Stock, such beneficial owner of Preferred Stock shall have
all of the rights and remedies of a Holder hereunder.

Section 3. Dividends.
Except for stock dividends or distributions for which adjustments are to be made pursuant to Section 7, Holders shall be entitled
to receive, and the Corporation shall pay, dividends on shares of Preferred Stock equal (on an as-if-converted-to-Common-Stock
basis, disregarding for such purpose any conversion limitations hereunder) to and in the same form as dividends actually paid on
shares of the Common Stock when, as and if such dividends are paid on shares of the Common Stock. No other dividends shall be paid
on shares of Preferred Stock. The Corporation shall not pay any dividends on the Common Stock unless the Corporation simultaneously
complies with this provision.

Section 4. Voting Rights.
Except as otherwise provided herein or as otherwise required by law, the Preferred Stock shall have no voting rights. However,
as long as any shares of Preferred Stock are outstanding, the Corporation shall not, without the affirmative vote of the Holders
of a majority of the then outstanding shares of the Preferred Stock, (a) alter or change adversely the powers, preferences or rights
given to the Preferred Stock or alter or amend this Certificate of Designation, (b) amend its certificate of incorporation or other
charter documents in any manner that adversely affects any rights of the Holders, (c) increase the number of authorized shares
of Preferred Stock, or (d) enter into any agreement with respect to any of the foregoing.

Section 5. Liquidation.
Upon any liquidation, dissolution or winding-up of the Corporation, whether voluntary or involuntary (a “Liquidation”),
the Holders shall be entitled to receive out of the assets, whether capital or surplus, of the Corporation the same amount that
a holder of Common Stock would receive if the Preferred Stock were fully converted (disregarding for such purposes any conversion
limitations hereunder) to Common Stock which amounts shall be paid pari passu with all holders of Common Stock. The Corporation
shall

mail written notice of any such Liquidation, not less than 45 days prior to the payment date stated therein, to each Holder.

Section 6. Conversion.

a) Conversions
at Option of Holder.
Each share of Preferred Stock shall be convertible, at any time and from time to time from and after the
Original Issue Date at the option of the Holder thereof, into that number of shares of Common Stock (subject to the limitations
set forth in Section 6(d)) determined by dividing the Stated Value of such share of Preferred Stock by the Conversion Price. Holders
shall effect conversions by providing the Corporation with the form of conversion notice attached hereto as Annex A (a “Notice
of Conversion”).
Each Notice of Conversion shall specify the number of shares of Preferred Stock to be converted, the
number of shares of Preferred Stock owned prior to the conversion at issue, the number of shares of Preferred Stock owned subsequent
to the conversion at issue and the date on which such conversion is to be effected, which date may not be prior to the date the
applicable Holder delivers by facsimile or e-mail such Notice of Conversion to the Corporation (such date, the “Conversion
Date”).
If no Conversion Date is specified in a Notice of Conversion, the Conversion Date shall be the date that such
Notice of Conversion to the Corporation is deemed delivered hereunder. No ink-original Notice of Conversion shall be required,
nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice of Conversion form be required.
calculations and entries set forth in the Notice of Conversion shall control in the absence of manifest or mathematical error.
To effect conversions of shares of Preferred Stock, a Holder shall not be required to surrender the certificate(s) representing
the shares of Preferred Stock to the Corporation unless all of the shares of Preferred Stock represented thereby are so converted,
in which case such Holder shall deliver the certificate representing such shares of Preferred Stock promptly following the Conversion
Date at issue. Shares of Preferred Stock converted into Common Stock or redeemed in accordance with the terms hereof shall be canceled
and shall not be reissued.

b) Conversion
Price.
The conversion price for the Preferred Stock shall equal (●), subject to adjustment herein (the “Conversion
Price”).

c) Mechanics
of Conversion

i. Delivery
of Conversion Shares Upon Conversion.
Not later than the earlier of (i) two (2) Trading Days and (ii) the number of Trading
Days comprising the Standard Settlement Period (as defined below) after each Conversion Date (the “Share Delivery Date”),
the Corporation shall deliver, or cause to be delivered, to the converting Holder (A) the number of Conversion Shares being acquired
upon the conversion of the Preferred Stock, which Conversion Shares, if registered with the Commission, shall be free of restrictive
legends and trading restrictions, and (B) a bank check in the amount of accrued and unpaid dividends, if any. The Corporation shall
use its best efforts to deliver the Conversion Shares required to be delivered by the Corporation under this Section 6 electronically
through the Depository Trust Company or another established clearing corporation performing similar functions. As used herein,
“Standard Settlement Period” means the standard settlement period, expressed in a number of Trading Days, on
the Corporation’s primary Trading Market with respect to the Common Stock as in effect on the date of delivery of the Notice
of Conversion. Notwithstanding the foregoing, with respect to any Notice(s) of Conversion delivered by 12:00 p.m. (New York City
time) on the Original Issue Date, the Corporation agrees to deliver the Conversion Shares subject to such notice(s) by 4:00 p.m.
(New York City time) on the Original Issue Date, and the Original Issue Date being deemed the “Share Delivery Date”
with respect to any such Notice(s) of Conversion.

ii. Failure
to Deliver Conversion Shares.
If, in the case of any Notice of Conversion, such Conversion Shares are not delivered to or as
directed by the applicable Holder by the Share Delivery Date, the Holder shall be entitled to elect by written notice to the Corporation
at any time on or before its receipt of such Conversion Shares, to rescind such Conversion, in which event the Corporation shall
promptly return to the Holder any original Preferred Stock certificate delivered to the Corporation and the Holder shall promptly
return to the Corporation the Conversion Shares issued to such Holder pursuant to the rescinded Notice of Conversion.

iii. Obligation
Absolute; Partial Liquidated Damages.
The Corporation’s obligation to issue and deliver the Conversion Shares upon conversion
of Preferred Stock in accordance with the terms hereof is absolute and unconditional, irrespective of any action or inaction by
a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against
any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach
or alleged breach by such Holder or any other Person of any obligation to the Corporation or any violation or alleged violation
of law by such Holder or any other person, and irrespective of any other circumstance which might otherwise limit such obligation
of the Corporation to such Holder in connection with the issuance of such Conversion Shares; provided, however, that such
delivery shall not operate as a waiver by the Corporation of any such action that the Corporation may have against such Holder.
In the event a Holder shall elect to convert any or all of the Stated Value of its Preferred Stock, the Corporation may not refuse
conversion based on any claim that such Holder or anyone associated or affiliated with such Holder has been engaged in any violation
of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and/or enjoining
conversion of all or part of the Preferred Stock of such Holder shall have been sought and obtained, and the Corporation posts
a surety bond for the benefit of such Holder in the amount of 150% of the Stated Value of Preferred Stock which is subject to the
injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the
proceeds of which shall be payable to such Holder to the extent it obtains judgment. In the absence of such injunction, the Corporation
shall issue Conversion Shares and, if applicable, cash, upon a properly noticed conversion. If the Corporation fails to deliver
to a Holder such Conversion Shares pursuant to Section 6(c)(i) by the Share Delivery Date applicable to such conversion, the Corporation
shall pay to such Holder, in cash, as liquidated damages and not as a penalty, for each $5,000 of Stated Value of Preferred Stock
being converted, $50 per Trading Day (increasing to $100 per Trading Day on the third Trading Day and increasing to $200 per Trading
Day on the sixth Trading Day after such damages begin to accrue) for each Trading Day after the Share Delivery Date until such
Conversion Shares are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue
actual damages for the Corporation’s failure to deliver Conversion Shares within the period specified herein and such Holder
shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree
of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit a Holder from seeking to enforce
damages pursuant to any other Section hereof or under applicable law.

iv. Compensation
for Buy-In on Failure to Timely Deliver Conversion Shares Upon Conversion.
In addition to any other rights available to the
Holder, if the Corporation fails for any reason to deliver to a Holder the applicable Conversion Shares by the Share Delivery Date
pursuant to Section 6(c)(i), and if after such Share Delivery Date such Holder is required by its brokerage firm to purchase (in
an open market transaction or otherwise), or the Holder’s brokerage firm otherwise purchases, shares of Common Stock to deliver
in satisfaction of a sale by such Holder of the Conversion Shares which such Holder was entitled to receive upon the conversion
relating to such Share Delivery Date (a “Buy-In”), then the Corporation shall (A) pay in cash to such Holder
(in addition to any other remedies available to or elected by such Holder) the amount, if any, by which (x) such Holder’s
total purchase price (including any brokerage

commissions) for the Common Stock so purchased exceeds (y) the product of (1) the
aggregate number of shares of Common Stock that such Holder was entitled to receive from the conversion at issue multiplied by
(2) the actual sale price at which the sell order giving rise to such purchase obligation was executed (including any brokerage
commissions) and (B) at the option of such Holder, either reissue (if surrendered) the shares of Preferred Stock equal to the number
of shares of Preferred Stock submitted for conversion (in which case, such conversion shall be deemed rescinded) or deliver to
such Holder the number of shares of Common Stock that would have been issued if the Corporation had timely complied with its delivery
requirements under Section 6(c)(i). For example, if a Holder purchases shares of Common Stock having a total purchase price of
$11,000 to cover a Buy-In with respect to an attempted conversion of shares of Preferred Stock with respect to which the actual
sale price of the Conversion Shares (including any brokerage commissions) giving rise to such purchase obligation was a total of
$10,000 under clause (A) of the immediately preceding sentence, the Corporation shall be required to pay such Holder $1,000.
Holder shall provide the Corporation written notice indicating the amounts payable to such Holder in respect of the Buy-In and,
upon request of the Corporation, evidence of the amount of such loss. Nothing herein shall limit a Holder’s right to pursue
any other remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance
and/or injunctive relief with respect to the Corporation’s failure to timely deliver the Conversion Shares upon conversion
of the shares of Preferred Stock as required pursuant to the terms hereof.

v. Reservation
of Shares Issuable Upon Conversion.
The Corporation covenants that it will at all times reserve and keep available out of its
authorized and unissued shares of Common Stock for the sole purpose of issuance upon conversion of the Preferred Stock as herein
provided, free from preemptive rights or any other actual contingent purchase rights of Persons other than the Holder (and the
other holders of the Preferred Stock), not less than such aggregate number of shares of the Common Stock as shall be issuable (taking
into account the adjustments and restrictions of Section 7) upon the conversion of the then outstanding shares of Preferred Stock.
The Corporation covenants that all shares of Common Stock that shall be so issuable shall, upon issue, be duly authorized, validly
issued, fully paid and nonassessable.

vi. Fractional
Shares.
No fractional shares or scrip representing fractional shares shall be issued upon the conversion of the Preferred Stock.
As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such conversion, the Corporation shall
round up to the next whole share. Notwithstanding anything to the contrary contained herein, but consistent with the provisions
of this subsection with respect to fractional Conversion Shares, nothing shall prevent any Holder from converting fractional shares
of Preferred Stock.

vii. Transfer
Taxes and Expenses.
The issuance of Conversion Shares on conversion of this Preferred Stock shall be made without charge to
any Holder for any documentary stamp or similar taxes that may be payable in respect of the issue or delivery of such Conversion
Shares, provided that the Corporation shall not be required to pay any tax that may be payable in respect of any transfer involved
in the issuance and delivery of any such Conversion Shares upon conversion in a name other than that of the Holders of such shares
of Preferred Stock and the Corporation shall not be required to issue or deliver such Conversion Shares unless or until the Person
or Persons requesting the issuance thereof shall have paid to the Corporation the amount of such tax or shall have established
to the satisfaction of the Corporation that such tax has been paid. The Corporation shall pay all Transfer Agent fees required
for same-day processing of any Notice of Conversion and all fees to the Depository Trust Company (or another established clearing
corporation performing similar functions) required for same-day electronic delivery of the Conversion Shares.

d) Beneficial
Ownership Limitation.
The Corporation shall not effect any conversion of the Preferred Stock, and a Holder shall not have the
right to convert any portion of the Preferred Stock, to the extent that, after giving effect to the conversion set forth on the
applicable Notice of Conversion, such Holder (together with such Holder’s Affiliates, and any Persons acting as a group together
with such Holder or any of such Holder’s Affiliates (such Persons, “Attribution Parties”)) would beneficially
own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of
shares of Common Stock beneficially owned by such Holder and its Affiliates and Attribution Parties shall include the number of
shares of Common Stock issuable upon conversion of the Preferred Stock with respect to which such determination is being made,
but shall exclude the number of shares of Common Stock which are issuable upon (i) conversion of the remaining, unconverted Stated
Value of Preferred Stock beneficially owned by such Holder or any of its Affiliates or Attribution Parties and (ii) exercise or
conversion of the unexercised or unconverted portion of any other securities of the Corporation subject to a limitation on conversion
or exercise analogous to the limitation contained herein (including, without limitation, the Preferred Stock) beneficially owned
by such Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of
this Section 6(d), beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act and

the rules
and regulations promulgated thereunder. To the extent that the limitation contained in this Section 6(d) applies, the determination
of whether the Preferred Stock is convertible (in relation to other securities owned by such Holder together with any Affiliates
and Attribution Parties) and of how many shares of Preferred Stock are convertible shall be in the sole discretion of such Holder,
and the submission of a Notice of Conversion shall be deemed to be such Holder’s determination of whether the shares of Preferred
Stock may be converted (in relation to other securities owned by such Holder together with any Affiliates and Attribution Parties)
and how many shares of the Preferred Stock are convertible, in each case subject to the Beneficial Ownership Limitation. To ensure
compliance with this restriction, each Holder will be deemed to represent to the Corporation each time it delivers a Notice of
Conversion that such Notice of Conversion has not violated the restrictions set forth in this paragraph and the Corporation shall
have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status
as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated
thereunder. For purposes of this Section 6(d), in determining the number of outstanding shares of Common Stock, a Holder may rely
on the number of outstanding shares of Common Stock as stated in the most recent of the following: (i) the Corporation’s
most recent periodic or annual report filed with the Commission, as the case may be, (ii) a more recent public announcement by
the Corporation or (iii) a more recent written notice by the Corporation or the Transfer Agent setting forth the number of shares
of Common Stock outstanding. Upon the written or oral request (which may be via email) of a Holder, the Corporation shall within
one Trading Day confirm orally and in writing to such Holder the number of shares of Common Stock then outstanding. In any case,
the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities
of the Corporation, including the Preferred Stock, by such Holder or its Affiliates or Attribution Parties since the date as of
which such number of outstanding shares of Common Stock was reported. “Beneficial Ownership Limitation”
shall be 40% of the number of shares of Common Stock outstanding immediately after giving effect to the issuance of shares of Common
Stock issuable upon conversion of Preferred Stock held by the applicable Holder. A Holder, upon notice to the Corporation, may
decrease the Beneficial Ownership Limitation provisions of this Section 6(d) applicable to its Preferred Stock. The provisions
of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section
6(d) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership
Limitation contained herein or to make changes or supplements necessary or desirable to properly give effect to such limitation.
The limitations contained in this paragraph shall apply to a successor holder of Preferred Stock.

Section 7. Certain Adjustments.

a) Atsargos
Dividends and Stock Splits.
If the Corporation, at any time while this Preferred Stock is outstanding: (i) pays a stock dividend
or otherwise makes a distribution or distributions payable in shares of Common Stock on shares of Common Stock or any other Common
Stock Equivalents (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Corporation upon conversion
of, or payment of a dividend on, this Preferred Stock), (ii) subdivides outstanding shares of Common Stock into a larger number
of shares, (iii) combines (including by way of a reverse stock split) outstanding shares of Common Stock into a smaller number
of shares, or (iv) issues, in the event of a reclassification of shares of the Common Stock, any shares of capital stock of the
Corporation, then the Conversion Price shall be multiplied by a fraction of which the numerator shall be the number of shares of
Common Stock (excluding any treasury shares of the Corporation) outstanding immediately before such event, and of which the denominator
shall be the number of shares of Common Stock outstanding immediately after such event. Any adjustment made pursuant to this Section
7(a) shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend
or distribution and shall become effective immediately after the effective date in the case of a subdivision, combination or re-classification.

b) Subsequent
Rights Offerings.
In addition to any adjustments pursuant to Section 7(a) above, if at any time the Corporation grants, issues
or sells any Common Stock Equivalents or rights to purchase stock, warrants, securities or other property pro rata to the record
holders of any class of shares of Common Stock (the “Purchase Rights”), then the Holder will be entitled to
acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired
if the Holder had

held the number of shares of Common Stock acquirable upon complete conversion of such Holder’s Preferred
Stock (without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation)
immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such
record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the grant, issue or
sale of such Purchase Rights (provided, however, to the extent that the Holder’s right to participate in any such Purchase
Right would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate
in such Purchase Right to such extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right
to such extent) and such Purchase Right to such extent shall be held in abeyance for the Holder until such time, if ever, as its
right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).

c) Pro
Rata Distributions.
During such time as this Preferred Stock is outstanding, if the Corporation declares or makes any dividend
or other distribution of its assets (or rights to acquire its assets) to holders of shares of Common Stock, by way of return of
capital or otherwise (including, without limitation, any distribution of cash, stock or other securities, property or options by
way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a
“Distribution”), at any time after the issuance of this Preferred Stock, then, in each such case, the Holder
shall be entitled to participate in such Distribution to the same extent that the Holder would have participated therein if the
Holder had held the number of shares of Common Stock acquirable upon complete conversion of this Preferred Stock (without regard
to any limitations on conversion hereof, including without limitation, the Beneficial Ownership Limitation) immediately before
the date of which a record is taken for such Distribution, or, if no such record is taken, the date as of which the record holders
of shares of Common Stock are to be determined for the participation in such Distribution (provided, however, to the extent
that the Holder’s right to participate in any such Distribution would result in the Holder exceeding the Beneficial Ownership
Limitation, then the Holder shall not be entitled to participate in such Distribution to such extent (or in the beneficial ownership
of any shares of Common Stock as a result of such Distribution to such extent) and the portion of such Distribution shall be held
in abeyance for the benefit of the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding
the Beneficial Ownership Limitation).

d) Fundamental
Transaction.
If, at any time while this Preferred Stock is outstanding, (i) the Corporation, directly or indirectly, in one
or more related transactions effects any merger or consolidation of the Corporation with or into another Person, (ii) the Corporation,
directly or indirectly, effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially
all of its assets in one or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange
offer (whether by the Corporation or another Person) is completed pursuant to which holders of Common Stock are permitted to sell,
tender or exchange their shares for other securities, cash or property and has been accepted by the holders of 50% or more of the
outstanding Common Stock, (iv) the Corporation, directly or indirectly, in one or more related transactions effects any reclassification,
reorganization or recapitalization of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively
converted into or exchanged for other securities, cash or property, or (v) the Corporation, directly or indirectly, in one or more
related transactions consummates a stock or share purchase agreement or other business combination (including, without limitation,
a reorganization, recapitalization, spin-off or scheme of arrangement) with another Person whereby such other Person acquires more
than 50% of the outstanding shares of Common Stock (not including any shares of Common Stock held by the other Person or other
Persons making or party to, or associated or affiliated with the other Persons making or party to, such stock or share purchase
agreement or other business combination) (each a “Fundamental Transaction”), then, upon any subsequent conversion
of this Preferred Stock, the Holder shall have the right to receive, for each Conversion Share that would have been issuable upon
such conversion immediately prior to the occurrence of such Fundamental Transaction (without regard to any limitation in Section
6(d) on the conversion of this Preferred Stock), the number of shares of Common Stock of the successor or acquiring corporation
or of the Corporation, if it is the surviving corporation, and any additional consideration (the “Alternate Consideration”)
receivable as a result of such Fundamental Transaction by a holder of the number of shares of Common Stock for which this Preferred
Stock is convertible immediately prior to such Fundamental Transaction (without regard to any limitation in Section

6(d) on the
conversion of this Preferred Stock). For purposes of any such conversion, the determination of the Conversion Price shall be appropriately
adjusted to apply to such Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one share
of Common Stock in such Fundamental Transaction, and the Corporation shall apportion the Conversion Price among the Alternate Consideration
in a reasonable manner reflecting the relative value of any different components of the Alternate Consideration. If holders of
Common Stock are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the
Holder shall be given the same choice as to the Alternate Consideration it receives upon any conversion of this Preferred Stock
following such Fundamental Transaction. To the extent necessary to effectuate the foregoing provisions, any successor to the Corporation
or surviving entity in such Fundamental Transaction shall file a new Certificate of Designation with the same terms and conditions
and issue to the Holders new preferred stock consistent with the foregoing provisions and evidencing the Holders’ right to
convert such preferred stock into Alternate Consideration. The Corporation shall cause any successor entity in a Fundamental Transaction
in which the Corporation is not the survivor (the “Successor Entity”) to assume in writing all of the obligations
of the Corporation under this Certificate of Designation in accordance with the provisions of this Section 7(d) pursuant to written
agreements in form and substance reasonably satisfactory to the Holder and approved by the Holder (without unreasonable delay)
prior to such Fundamental Transaction and shall, at the option of the Holder, deliver to the Holder in exchange for this Preferred
Stock a security of the Successor Entity evidenced by a written instrument substantially similar in form and substance to this
Preferred Stock which is convertible for a corresponding number of shares of capital stock of such Successor Entity (or its parent
entity) equivalent to the shares of Common Stock acquirable and receivable upon conversion of this Preferred Stock (without regard
to any limitations on the conversion of this Preferred Stock) prior to such Fundamental Transaction, and with a conversion price
which applies the conversion price hereunder to such shares of capital stock (but taking into account the relative value of the
shares of Common Stock pursuant to such Fundamental Transaction and the value of such shares of capital stock and, such number
of shares of capital stock and such conversion price being for the purpose of protecting the economic value of this Preferred Stock
immediately prior to the consummation of such Fundamental Transaction), and which is reasonably satisfactory in form and substance
to the Holder. Upon the occurrence of any such Fundamental Transaction, the Successor Entity shall succeed to, and be substituted
for (so that from and after the date of such Fundamental Transaction, the provisions of this Certificate of Designation referring
to the “Corporation” shall refer instead to the Successor Entity), and may exercise every right and power of the Corporation
and shall assume all of the obligations of the Corporation under this Certificate of Designation with the same effect as if such
Successor Entity had been named as the Corporation herein.

e) Calculations.
All calculations under this Section 7 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be.
For purposes of this Section 7, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall
be the sum of the number of shares of Common Stock (excluding any treasury shares of the Corporation) issued and outstanding.

f) Notice
to the Holders.

i. Adjustment
to Conversion Price.
Whenever the Conversion Price is adjusted pursuant to any provision of this Section 7, the Corporation
shall promptly deliver to each Holder by facsimile or email a notice setting forth the Conversion Price after such adjustment and
setting forth a brief statement of the facts requiring such adjustment.

ii. Notice
to Allow Conversion by Holder.
If (A) the Corporation shall declare a dividend (or any other distribution in whatever form)
on the Common Stock, (B) the Corporation shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock,
(C) the Corporation shall authorize the granting to all holders of the Common Stock of rights or warrants to subscribe for or purchase
any shares of capital stock of any class or of any rights, (D) the approval of any stockholders of the Corporation shall be required
in connection with any reclassification of the Common Stock, any consolidation or merger to which the Corporation is a party, any
sale or transfer of all or substantially all of the assets of the Corporation, or any compulsory share exchange whereby the Common
Stock is converted into other securities, cash or property or (E) the Corporation shall authorize the voluntary or involuntary
dissolution,

liquidation or winding up of the affairs of the Corporation, then, in each case, the Corporation shall cause to be
filed at each office or agency maintained for the purpose of conversion of this Preferred Stock, and shall cause to be delivered
by facsimile or email to each Holder at its last facsimile number or email address as it shall appear upon the stock books of the
Corporation, at least twenty (20) calendar days prior to the applicable record or effective date hereinafter specified, a notice
stating (x) the date on which a record is to be taken for the purpose of such dividend, distribution, redemption, rights or warrants,
or if a record is not to be taken, the date as of which the holders of the Common Stock of record to be entitled to such dividend,
distributions, redemption, rights or warrants are to be determined or (y) the date on which such reclassification, consolidation,
merger, sale, transfer or share exchange is expected to become effective or close, and the date as of which it is expected that
holders of the Common Stock of record shall be entitled to exchange their shares of the Common Stock for securities, cash or other
property deliverable upon such reclassification, consolidation, merger, sale, transfer or share exchange, provided that the failure
to deliver such notice or any defect therein or in the delivery thereof shall not affect the validity of the corporate action required
to be specified in such notice. To the extent that any notice provided hereunder constitutes, or contains, material, non-public
information regarding the Corporation or any of the Subsidiaries, the Corporation shall simultaneously file such notice with the
Commission pursuant to a Current Report on Form 8-K. The Holder shall remain entitled to convert the Conversion Amount of this
Preferred Stock (or any part hereof) during the 20-day period commencing on the date of such notice through the effective date
of the event triggering such notice except as may otherwise be expressly set forth herein.

Section 8. Miscellaneous.

a) Notices.
Any and all notices or other communications or deliveries to be provided by the Holders hereunder including, without limitation,
any Notice of Conversion, shall be in writing and delivered personally, by facsimile or e-mail, or sent by a nationally recognized
overnight courier service, addressed to the Corporation, at the address set forth above Attention: Controller, facsimile number
(720) 437-6527, e-mail address ecreason@aytubio.com, or such other facsimile number, e-mail address or address as the Corporation
may specify for such purposes by notice to the Holders delivered in accordance with this Section 8. Any and all notices or other
communications or deliveries to be provided by the Corporation hereunder shall be in writing and delivered personally, by facsimile,
e-mail, or sent by a nationally recognized overnight courier service addressed to each Holder at the facsimile number, e-mail address
or address of such Holder appearing on the books of the Corporation. Any notice or other communication or deliveries hereunder
shall be deemed given and effective on the earliest of (i) the date of transmission, if such notice or communication is delivered
via facsimile at the facsimile number or e-mail at the e-mail address set forth in this Section 8 prior to 5:30 p.m. (New York
City time) on any date, (ii) the next Trading Day after the date of transmission, if such notice or communication is delivered
via facsimile at the facsimile number or e-mail at the e-mail address set forth in this Section on a day that is not a Trading
Day or later than 5:30 p.m. (New York City time) on any Trading Day, (iii) the second Trading Day following the date of mailing,
if sent by U.S. nationally recognized overnight courier service, or (iv) upon actual receipt by the party to whom such notice is
required to be given.

b) Absolute
Obligation.
Except as expressly provided herein, no provision of this Certificate of Designation shall alter or impair the
obligation of the Corporation, which is absolute and unconditional, to pay liquidated damages, and accrued dividends, as applicable,
on the shares of Preferred Stock at the time, place, and rate, and in the coin or currency, herein prescribed.

c) Lost
or Mutilated Preferred Stock Certificate.
If a Holder’s Preferred Stock certificate shall be mutilated, lost, stolen
or destroyed, the Corporation shall execute and deliver, in exchange and substitution for and upon cancellation of a mutilated
certificate, or in lieu of or in substitution for a lost, stolen or destroyed certificate, a new certificate for the shares of
Preferred Stock so mutilated, lost, stolen or destroyed, but only upon receipt of evidence of such loss, theft or destruction of
such certificate, and of the ownership hereof reasonably satisfactory to the Corporation.

d) Governing
Law.
All questions concerning the construction, validity, enforcement and interpretation of this Certificate of Designation
shall be governed by and construed and enforced in accordance with the internal laws of the State of Delaware without regard to
the principles of conflict of laws thereof. All legal proceedings concerning the interpretation, enforcement and defense of the
transactions contemplated by this Certificate of Designation (whether brought against a party hereto or its respective Affiliates,
directors, officers, shareholders, employees or agents) shall be commenced in the state and federal courts sitting in the City
of New York, Borough of Manhattan (the “New York Courts”). The Corporation and each Holder hereby irrevocably
submits to the exclusive jurisdiction of the New York Courts for the adjudication of any dispute hereunder or in connection herewith
or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any
suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of such New York Courts, or such New
York Courts are improper or inconvenient venue for such proceeding. The Corporation and each Holder hereby irrevocably waives personal
service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof via registered
or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under
this Certificate of Designation and agrees that such service shall constitute good and sufficient service of process and notice
thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted
by applicable law. The Corporation and each Holder hereto hereby irrevocably waives, to the fullest extent permitted by applicable
law, any and all right to trial by jury in any legal proceeding arising out of or relating to this Certificate of Designation or
the transactions contemplated hereby. If the Corporation or any Holder shall commence an action or proceeding to enforce any provisions
of this Certificate of Designation, then the prevailing party in such action or proceeding shall be reimbursed by the other party
for its attorneys’ fees and other costs and expenses incurred in the investigation, preparation and prosecution of such action
or proceeding.

e) Waiver.
Any waiver by the Corporation or a Holder of a breach of any provision of this Certificate of Designation shall not operate as
or be construed to be a waiver of any other breach of such provision or of any breach of any other provision of this Certificate
of Designation or a waiver by any other Holders. The failure of the Corporation or a Holder to insist upon strict adherence to
any term of this Certificate of Designation on one or more occasions shall not be considered a waiver or deprive that party (or
any other Holder) of the right thereafter to insist upon strict adherence to that term or any other term of this Certificate of
Designation on any other occasion. Any waiver by the Corporation or a Holder must be in writing.

f) Severability.
If any provision of this Certificate of Designation is invalid, illegal or unenforceable, the balance of this Certificate of Designation
shall remain in effect, and if any provision is inapplicable to any Person or circumstance, it shall nevertheless remain applicable
to all other Persons and circumstances. If it shall be found that any interest or other amount deemed interest due hereunder violates
the applicable law governing usury, the applicable rate of interest due hereunder shall automatically be lowered to equal the maximum
rate of interest permitted under applicable law.

g) Next
Business Day.
Whenever any payment or other obligation hereunder shall be due on a day other than a Business Day, such payment
shall be made on the next succeeding Business Day.

h) Headings.
The headings contained herein are for convenience only, do not constitute a part of this Certificate of Designation and shall not
be deemed to limit or affect any of the provisions hereof.

i) Status
of Converted or Redeemed Preferred Stock.
If any shares of Preferred Stock shall be converted, redeemed or reacquired by the
Corporation, such shares shall resume the status of authorized but unissued shares of preferred stock and shall no longer be designated
as Series H Convertible Preferred Stock.

*********************

RESOLVED, FURTHER, that the Chairman, the president
or any vice-president, and the secretary or any assistant secretary, of the Corporation be and they hereby are authorized and directed
to prepare and file this Certificate of Designation of Preferences, Rights and Limitations in accordance with the foregoing resolution
and the provisions of Delaware law.

IN WITNESS WHEREOF, the undersigned
have executed this Certificate this ___ day of February, 2020.

Name: Name:
Title: Title:

ANNEX A

NOTICE OF CONVERSION

(TO BE EXECUTED BY THE
REGISTERED HOLDER IN ORDER TO CONVERT SHARES OF PREFERRED STOCK)

The undersigned hereby elects to convert the
number of shares of Series H Convertible Preferred Stock indicated below into shares of common stock, par value $0.0001 per share
(the “Common Stock”), of Aytu BioScience, Inc., a Delaware corporation (the “Corporation”),
according to the conditions hereof, as of the date written below. If shares of Common Stock are to be issued in the name of a
Person other than the undersigned, the undersigned will pay all transfer taxes payable with respect thereto. No fee will be charged
to the Holders for any conversion, except for any such transfer taxes.

Conversion calculations:

Date to Effect Conversion:

Number of shares of Preferred Stock owned prior to Conversion:

Number of shares of Preferred Stock to be Converted:

Stated Value of shares of Preferred Stock to be Converted:

Number of shares of Common Stock to be Issued:

Applicable Conversion Price:

Number of shares of Preferred Stock subsequent to Conversion:

Address for Delivery:

or

DWAC Instructions:

(HOLDER)
By:
Name:
Title:

Exhibit C

AYTU BIOSCIENCE, INC.

CERTIFICATE OF DESIGNATION OF PREFERENCES,
RIGHTS AND LIMITATIONS
OF
SERIES H CONVERTIBLE PREFERRED STOCK

PURSUANT TO SECTION 151 OF THE
DELAWARE GENERAL CORPORATION LAW

The undersigned, Joshua R. Disbrow and David
A. Green, do hereby certify that:

1.       They
are the President and Secretary, respectively, of Aytu BioScience, Inc., a Delaware corporation (the “Corporation”).

2.       The
Corporation is authorized to issue 50,000,000 shares of preferred stock, 3,444,981 of which have been issued.

3.       The
following resolutions were duly adopted by the board of directors of the Corporation (the “Board of Directors”):

WHEREAS, the certificate
of incorporation of the Corporation provides for a class of its authorized stock known as preferred stock, consisting of 50,000,000
shares, $0.0001 par value per share, issuable from time to time in one or more series;

WHEREAS, the Board of Directors
is authorized to fix the dividend rights, dividend rate, voting rights, conversion rights, rights and terms of redemption and liquidation
preferences of any wholly unissued series of preferred stock and the number of shares constituting any series and the designation
thereof, of any of them; et

WHEREAS, it is the desire
of the Board of Directors, pursuant to its authority as aforesaid, to fix the rights, preferences, restrictions and other matters
relating to a series of the preferred stock, which shall consist of up to 1,997,736 shares of the preferred stock which the Corporation
has the authority to issue, as follows:

NOW, THEREFORE, BE IT RESOLVED,
that the Board of Directors does hereby provide for the issuance of a series of preferred stock for cash or exchange of other securities,
rights or property and does hereby fix and determine the rights, preferences, restrictions and other matters relating to such series
of preferred stock as follows:

TERMS OF PREFERRED STOCK

Section 1. Definitions.
For the purposes hereof, the following terms shall have the following meanings:

“Affiliate”
means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common
control with a Person, as such terms are used in and construed under Rule 405 of the Securities Act.

“Alternate Consideration” shall
have the meaning set forth in Section 7(d). “Beneficial Ownership Limitation” shall have the meaning set forth
in Section 6(d).

“Business Day”
means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or any day
on which banking institutions in the State of New York are authorized or required by law or other governmental action to close.

“Buy-In”
shall have the meaning set forth in Section 6(c)(iv).

“Commission” means the United
States Securities and Exchange Commission.

“Common Stock”
means the Corporation’s common stock, par value $0.0001 per share, and stock of any other class of securities into which
such securities may hereafter be reclassified or changed.

“Common Stock Equivalents”
means any securities of the Corporation or the Subsidiaries which would entitle the holder thereof to acquire at any time Common
Stock, including, without limitation, any debt, preferred stock, rights, options, warrants or other instrument that is at any time
convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock.

“Conversion Amount” means the
sum of the Stated Value at issue.

“Conversion Date” shall have the meaning set forth in Section 6(a).

“Conversion Price” shall have the meaning set forth in Section 6(b).

“Conversion Shares”
means, collectively, the shares of Common Stock issuable upon conversion of the shares of Preferred Stock in accordance with the
terms hereof.

“Exchange Act”
means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

“Fundamental Transaction”
shall have the meaning set forth in Section 7(d). “GAAP” means United States generally accepted accounting principles.
“Holder” shall have the meaning given such term in Section 2.

“Liquidation” shall have the
meaning set forth in Section 5.

“New York
Courts”
shall have the meaning set forth in Section 8(d). “Notice of Conversion” shall have the meaning
set forth in Section 6(a).

“Original Issue
Date”
means the date of the first issuance of any shares of the Preferred Stock regardless of the number of transfers
of any particular shares of Preferred Stock and regardless of the number of certificates which may be issued to evidence such Preferred
Stock.

“Person”
means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

“Preferred Stock” shall have
the meaning set forth in Section 2.

“Securities Act”
means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

“Share Delivery Date” shall
have the meaning set forth in Section 6(c).

“Stated Value”
shall have the meaning set forth in Section 2, as the same may be increased pursuant to Section 3.

“Successor Entity” shall have
the meaning set forth in Section 7(d).

“Trading Day” means a day on
which the principal Trading Market is open for business.

“Trading Market”
means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date in question:
the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market or the New York Stock Exchange
(or any successors to any of the foregoing).

“Transfer Agent”
means Issuer Direct Corporation, the current transfer agent of the Corporation with a mailing address of 500 Perimeter Park Drive,
Suite D, Morrisville, NC 27560 and a facsimile number of (919) 481-6222, and any successor transfer agent of the Corporation.

“VWAP”
means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed
or quoted on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest preceding
date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a Trading
Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if OTCQB or OTCQX is not a Trading Market, the
volume weighted average price of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable,
(c) if the Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Stock are then
reported in the “Pink Sheets” published by OTC Markets, Inc. (or a similar organization or agency succeeding to its
functions of reporting prices), the most recent bid price per share of the Common Stock so reported, or (d) in all other cases,
the fair market value of a share of Common Stock as determined by an independent appraiser selected in good faith by the Holders
of a majority in interest of the Preferred Stock then outstanding and reasonably acceptable to the Corporation, the fees and expenses
of which shall be paid by the Corporation.

Section 2. Designation,
Amount and Par Value.
The series of preferred stock shall be designated as Series H Convertible Preferred Stock (the “Preferred
Stock”)
and the number of shares so designated shall be up to 1,997,736 (which shall not be subject to increase without
the written consent of all of the holders of the Preferred Stock (each, a “Holder” and collectively, the “Holders”)).
Each share of Preferred Stock shall have a par value of $0.0001 per share and a stated value equal to $1.00, subject to increase
set forth in Section 3 below (the “Stated Value”). The Preferred Stock will initially be issued in book-entry
form. As between the Corporation and a beneficial owner of Preferred Stock, such beneficial owner of Preferred Stock shall have
all of the rights and remedies of a Holder hereunder.

Section 3. Dividends.
Except for stock dividends or distributions for which adjustments are to be made pursuant to Section 7, Holders shall be entitled
to receive, and the Corporation shall pay, dividends on shares of Preferred Stock equal (on an as-if-converted-to-Common-Stock
basis, disregarding for such purpose any conversion limitations hereunder) to and in the same form as dividends actually paid on
shares of the Common Stock when, as and if such dividends are paid on shares of the Common Stock. No other dividends shall be paid
on shares of Preferred Stock. The Corporation shall not pay any dividends on the Common Stock unless the Corporation simultaneously
complies with this provision.

Section 4. Voting Rights.
Except as otherwise provided herein or as otherwise required by law, the Preferred Stock shall have no voting rights. However,
as long as any shares of Preferred Stock are outstanding, the Corporation shall not, without the affirmative vote of the Holders
of a majority of the then outstanding shares of the Preferred Stock, (a) alter or change adversely the powers, preferences or rights
given to the Preferred Stock or alter or amend this Certificate of Designation, (b) amend its certificate of incorporation or other
charter documents in any manner that adversely affects any rights of the Holders, (c) increase the number of authorized shares
of Preferred Stock, or (d) enter into any agreement with respect to any of the foregoing.

Section 5. Liquidation.
Upon any liquidation, dissolution or winding-up of the Corporation, whether voluntary or involuntary (a “Liquidation”),
the Holders shall be entitled to receive out of the assets, whether capital or surplus, of the Corporation the same amount
that a holder of Common Stock would receive if the Preferred Stock were fully converted (disregarding for such purposes any conversion
limitations hereunder) to Common Stock which amounts shall be paid pari passu with all holders of Common Stock. The Corporation
shall mail written notice of any such Liquidation, not less than 45 days prior to the payment date stated therein, to each Holder.

Section 6. Conversion.

a) Conversions
at Option of Holder.
Each share of Preferred Stock shall be convertible, at any time and from time to time from and after the
Original Issue Date at the option of the Holder thereof, into that number of shares of Common Stock (subject to the limitations
set forth in Section 6(d)) determined by dividing the Stated Value of such share of Preferred Stock by the Conversion Price. Holders
shall effect conversions by providing the Corporation with the form of conversion notice attached hereto as Annex A (a “Notice
of Conversion”).
Each Notice of Conversion shall specify the number of shares of Preferred Stock to be converted, the
number of shares of Preferred Stock owned prior to the conversion at issue, the number of shares of Preferred Stock owned subsequent
to the conversion at issue and the date on which such conversion is to be effected, which date may not be prior to the date the
applicable Holder delivers by facsimile or e-mail such Notice of Conversion to the Corporation (such date, the “Conversion
Date”).
If no Conversion Date is specified in a Notice of Conversion, the Conversion Date shall be the date that such
Notice of Conversion to the Corporation is deemed delivered hereunder. No ink-original Notice of Conversion shall be required,
nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice of Conversion form be required.
calculations and entries set forth in the Notice of Conversion shall control in the absence of manifest or mathematical error.
To effect conversions of shares of Preferred Stock, a Holder shall not be required to surrender the certificate(s) representing
the shares of Preferred Stock to the Corporation unless all of the shares of Preferred Stock represented thereby are so converted,
in which case such Holder shall deliver the certificate representing such shares of Preferred Stock promptly following the Conversion
Date at issue. Shares of Preferred Stock converted into Common Stock or redeemed in accordance with the terms hereof shall be canceled
and shall not be reissued.

b) Conversion
Price.
The conversion price for the Preferred Stock shall equal $1.00, subject to adjustment herein (the “Conversion
Price”).

c) Mechanics
of Conversion

i. Delivery
of Conversion Shares Upon Conversion.
Not later than the earlier of (i) two (2) Trading Days and (ii) the number of Trading
Days comprising the Standard Settlement Period (as defined below) after each Conversion Date (the “Share Delivery Date”),
the Corporation shall deliver, or cause to be delivered, to the converting Holder (A) the number of Conversion Shares being acquired
upon the conversion of the Preferred Stock, which Conversion Shares, if registered with the Commission, shall be free of restrictive
legends and trading restrictions, and (B) a bank check in the amount of accrued and unpaid dividends, if any. The Corporation shall
use its best efforts to deliver the Conversion Shares required to be delivered by the Corporation under this Section 6 electronically
through the Depository Trust Company or another established clearing corporation performing similar functions. As used herein,
“Standard Settlement Period” means the standard settlement period, expressed in a number of Trading Days, on
the Corporation’s primary Trading Market with respect to the Common Stock as in effect on the date of delivery of the Notice
of Conversion. Notwithstanding the foregoing, with respect to any Notice(s) of Conversion delivered by 12:00 p.m. (New York City
time) on the Original Issue Date, the Corporation agrees to deliver the Conversion Shares subject to such notice(s) by 4:00 p.m.
(New York City time) on the Original Issue Date, and the Original Issue Date being deemed the “Share Delivery Date”
with respect to any such Notice(s) of Conversion.

ii. Failure
to Deliver Conversion Shares.
If, in the case of any Notice of Conversion, such Conversion Shares are not delivered to or as
directed by the applicable Holder by the Share Delivery Date, the Holder shall be entitled to elect by written notice to the Corporation
at any time on or before its receipt of such Conversion Shares, to rescind such Conversion, in which event the Corporation shall
promptly return to the Holder any original Preferred Stock certificate delivered to the Corporation and the Holder shall promptly
return to the Corporation the Conversion Shares issued to such Holder pursuant to the rescinded Notice of Conversion.

iii. Obligation
Absolute; Partial Liquidated Damages.
The Corporation’s obligation to issue and deliver the Conversion Shares upon conversion
of Preferred Stock in accordance with the terms hereof is absolute and unconditional, irrespective of any action or inaction by
a Holder to enforce

the same, any
waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce
the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by such Holder or
any other Person of any obligation to the Corporation or any violation or alleged violation of law by such Holder or any other
person, and irrespective of any other circumstance which might otherwise limit such obligation of the Corporation to such Holder
in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a
waiver by the Corporation of any such action that the Corporation may have against such Holder. In the event a Holder shall elect
to convert any or all of the Stated Value of its Preferred Stock, the Corporation may not refuse conversion based on any claim
that such Holder or anyone associated or affiliated with such Holder has been engaged in any violation of law, agreement or for
any other reason, unless an injunction from a court, on notice to Holder, restraining and/or enjoining conversion of all or part
of the Preferred Stock of such Holder shall have been sought and obtained, and the Corporation posts a surety bond for the benefit
of such Holder in the amount of 150% of the Stated Value of Preferred Stock which is subject to the injunction, which bond shall
remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable
to such Holder to the extent it obtains judgment. In the absence of such injunction, the Corporation shall issue Conversion Shares
and, if applicable, cash, upon a properly noticed conversion. If the Corporation fails to deliver to a Holder such Conversion
Shares pursuant to Section 6(c)(i) by the Share Delivery Date applicable to such conversion, the Corporation shall pay to such
Holder, in cash, as liquidated damages and not as a penalty, for each $5,000 of Stated Value of Preferred Stock being converted,
$50 per Trading Day (increasing to $100 per Trading Day on the third Trading Day and increasing to $200 per Trading Day on the
sixth Trading Day after such damages begin to accrue) for each Trading Day after the Share Delivery Date until such Conversion
Shares are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue actual damages
for the Corporation’s failure to deliver Conversion Shares within the period specified herein and such Holder shall have
the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific
performance and/or injunctive relief. The exercise of any such rights shall not prohibit a Holder from seeking to enforce damages
pursuant to any other Section hereof or under applicable law.

iv. Compensation
for Buy-In on Failure to Timely Deliver Conversion Shares Upon Conversion.
In addition to any other rights available to the
Holder, if the Corporation fails for any reason to deliver to a Holder the applicable Conversion Shares by the Share Delivery Date
pursuant to Section 6(c)(i), and if after such Share Delivery Date such Holder is required by its brokerage firm to purchase (in
an open market transaction or otherwise), or the Holder’s brokerage firm otherwise purchases, shares of Common Stock to deliver
in satisfaction of a sale by such Holder of the Conversion Shares which such Holder was entitled to receive upon the conversion
relating to such Share Delivery Date (a “Buy-In”), then the Corporation shall (A) pay in cash to such Holder
(in addition to any other remedies available to or elected by such Holder) the amount, if any, by which (x) such Holder’s
total purchase price (including any brokerage commissions) for the Common Stock so purchased exceeds (y) the product of (1) the
aggregate number of shares of Common Stock that such Holder was entitled to receive from the conversion at issue multiplied by
(2) the actual sale price at which the sell order giving rise to such purchase obligation was executed (including any brokerage
commissions) and (B) at the option of such Holder, either reissue (if surrendered) the shares of Preferred Stock equal to the number
of shares of Preferred Stock submitted for conversion (in which case, such conversion shall be deemed rescinded) or deliver to
such Holder the number of shares of Common Stock that would have been issued if the Corporation had timely complied with its delivery
requirements under Section 6(c)(i). For example, if a Holder purchases shares of Common Stock having a total purchase price of
$11,000 to cover a Buy-In with respect to an attempted conversion of shares of Preferred Stock with respect to which the actual
sale price of the Conversion Shares (including any brokerage commissions) giving rise to such purchase obligation was a total of
$10,000 under clause (A) of the immediately preceding sentence, the Corporation shall be required to pay such Holder $1,000.
Holder shall provide the Corporation written notice indicating the amounts payable to such Holder in respect of the Buy-In and,
upon request of the Corporation, evidence of the amount of such loss. Nothing herein shall limit a

Holder’s right to pursue
any other remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance
and/or injunctive relief with respect to the Corporation’s failure to timely deliver the Conversion Shares upon conversion
of the shares of Preferred Stock as required pursuant to the terms hereof.

v. Reservation
of Shares Issuable Upon Conversion.
The Corporation covenants that it will at all times reserve and keep available out of its
authorized and unissued shares of Common Stock for the sole purpose of issuance upon conversion of the Preferred Stock as herein
provided, free from preemptive rights or any other actual contingent purchase rights of Persons other than the Holder (and the
other holders of the Preferred Stock), not less than such aggregate number of shares of the Common Stock as shall be issuable (taking
into account the adjustments and restrictions of Section 7) upon the conversion of the then outstanding shares of Preferred Stock.
The Corporation covenants that all shares of Common Stock that shall be so issuable shall, upon issue, be duly authorized, validly
issued, fully paid and nonassessable.

vi. Fractional
Shares.
No fractional shares or scrip representing fractional shares shall be issued upon the conversion of the Preferred Stock.
As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such conversion, the Corporation shall
round up to the next whole share. Notwithstanding anything to the contrary contained herein, but consistent with the provisions
of this subsection with respect to fractional Conversion Shares, nothing shall prevent any Holder from converting fractional shares
of Preferred Stock.

vii. Transfer
Taxes and Expenses.
The issuance of Conversion Shares on conversion of this Preferred Stock shall be made without charge to
any Holder for any documentary stamp or similar taxes that may be payable in respect of the issue or delivery of such Conversion
Shares, provided that the Corporation shall not be required to pay any tax that may be payable in respect of any transfer involved
in the issuance and delivery of any such Conversion Shares upon conversion in a name other than that of the Holders of such shares
of Preferred Stock and the Corporation shall not be required to issue or deliver such Conversion Shares unless or until the Person
or Persons requesting the issuance thereof shall have paid to the Corporation the amount of such tax or shall have established
to the satisfaction of the Corporation that such tax has been paid. The Corporation shall pay all Transfer Agent fees required
for same-day processing of any Notice of Conversion and all fees to the Depository Trust Company (or another established clearing
corporation performing similar functions) required for same-day electronic delivery of the Conversion Shares.

d) Beneficial
Ownership Limitation.
The Corporation shall not effect any conversion of the Preferred Stock, and a Holder shall not have the
right to convert any portion of the Preferred Stock, to the extent that, after giving effect to the conversion set forth on the
applicable Notice of Conversion, such Holder (together with such Holder’s Affiliates, and any Persons acting as a group together
with such Holder or any of such Holder’s Affiliates (such Persons, “Attribution Parties”)) would beneficially
own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of
shares of Common Stock beneficially owned by such Holder and its Affiliates and Attribution Parties shall include the number of
shares of Common Stock issuable upon conversion of the Preferred Stock with respect to which such determination is being made,
but shall exclude the number of shares of Common Stock which are issuable upon (i) conversion of the remaining, unconverted Stated
Value of Preferred Stock beneficially owned by such Holder or any of its Affiliates or Attribution Parties and (ii) exercise or
conversion of the unexercised or unconverted portion of any other securities of the Corporation subject to a limitation on conversion
or exercise analogous to the limitation contained herein (including, without limitation, the Preferred Stock) beneficially owned
by such Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of
this Section 6(d), beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act and the rules
and regulations promulgated thereunder. To the extent that the limitation contained in this Section 6(d) applies, the determination
of whether the Preferred Stock is convertible (in relation to other

securities owned by such Holder together with any Affiliates
and Attribution Parties) and of how many shares of Preferred Stock are convertible shall be in the sole discretion of such Holder,
and the submission of a Notice of Conversion shall be deemed to be such Holder’s determination of whether the shares of Preferred
Stock may be converted (in relation to other securities owned by such Holder together with any Affiliates and Attribution Parties)
and how many shares of the Preferred Stock are convertible, in each case subject to the Beneficial Ownership Limitation. To ensure
compliance with this restriction, each Holder will be deemed to represent to the Corporation each time it delivers a Notice of
Conversion that such Notice of Conversion has not violated the restrictions set forth in this paragraph and the Corporation shall
have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status
as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated
thereunder. For purposes of this Section 6(d), in determining the number of outstanding shares of Common Stock, a Holder may rely
on the number of outstanding shares of Common Stock as stated in the most recent of the following: (i) the Corporation’s
most recent periodic or annual report filed with the Commission, as the case may be, (ii) a more recent public announcement by
the Corporation or (iii) a more recent written notice by the Corporation or the Transfer Agent setting forth the number of shares
of Common Stock outstanding. Upon the written or oral request (which may be via email) of a Holder, the Corporation shall within
one Trading Day confirm orally and in writing to such Holder the number of shares of Common Stock then outstanding. In any case,
the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities
of the Corporation, including the Preferred Stock, by such Holder or its Affiliates or Attribution Parties since the date as of
which such number of outstanding shares of Common Stock was reported. “Beneficial Ownership Limitation”
shall be 40% of the number of shares of Common Stock outstanding immediately after giving effect to the issuance of shares of Common
Stock issuable upon conversion of Preferred Stock held by the applicable Holder. A Holder, upon notice to the Corporation, may
decrease the Beneficial Ownership Limitation provisions of this Section 6(d) applicable to its Preferred Stock. The provisions
of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section
6(d) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership
Limitation contained herein or to make changes or supplements necessary or desirable to properly give effect to such limitation.
The limitations contained in this paragraph shall apply to a successor holder of Preferred Stock.

Section 7. Certain Adjustments.

a) Atsargos
Dividends and Stock Splits.
If the Corporation, at any time while this Preferred Stock is outstanding: (i) pays a stock dividend
or otherwise makes a distribution or distributions payable in shares of Common Stock on shares of Common Stock or any other Common
Stock Equivalents (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Corporation upon conversion
of, or payment of a dividend on, this Preferred Stock), (ii) subdivides outstanding shares of Common Stock into a larger number
of shares, (iii) combines (including by way of a reverse stock split) outstanding shares of Common Stock into a smaller number
of shares, or (iv) issues, in the event of a reclassification of shares of the Common Stock, any shares of capital stock of the
Corporation, then the Conversion Price shall be multiplied by a fraction of which the numerator shall be the number of shares of
Common Stock (excluding any treasury shares of the Corporation) outstanding immediately before such event, and of which the denominator
shall be the number of shares of Common Stock outstanding immediately after such event. Any adjustment made pursuant to this Section
7(a) shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend
or distribution and shall become effective immediately after the effective date in the case of a subdivision, combination or re-classification.

b) Subsequent
Rights Offerings.
In addition to any adjustments pursuant to Section 7(a) above, if at any time the Corporation grants, issues
or sells any Common Stock Equivalents or rights to purchase stock, warrants, securities or other property pro rata to the record
holders of any class of shares of Common Stock (the “Purchase Rights”), then the Holder will be entitled to
acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired
if the Holder had held the number of shares of Common Stock acquirable upon complete conversion of such Holder’s Preferred
Stock (without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation)
immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such
record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the grant, issue or
sale of such Purchase Rights (provided, however, to the extent that the Holder’s right to participate in any such Purchase
Right would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate
in such

Purchase Right to such extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right
to such extent) and such Purchase Right to such extent shall be held in abeyance for the Holder until such time, if ever, as its
right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).

c) Pro
Rata Distributions.
During such time as this Preferred Stock is outstanding, if the Corporation declares or makes any dividend
or other distribution of its assets (or rights to acquire its assets) to holders of shares of Common Stock, by way of return of
capital or otherwise (including, without limitation, any distribution of cash, stock or other securities, property or options by
way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a
“Distribution”), at any time after the issuance of this Preferred Stock, then, in each such case, the Holder
shall be entitled to participate in such Distribution to the same extent that the Holder would have participated therein if the
Holder had held the number of shares of Common Stock acquirable upon complete conversion of this Preferred Stock (without regard
to any limitations on conversion hereof, including without limitation, the Beneficial Ownership Limitation) immediately before
the date of which a record is taken for such Distribution, or, if no such record is taken, the date as of which the record holders
of shares of Common Stock are to be determined for the participation in such Distribution (provided, however, to the extent
that the Holder’s right to participate in any such Distribution would result in the Holder exceeding the Beneficial Ownership
Limitation, then the Holder shall not be entitled to participate in such Distribution to such extent (or in the beneficial ownership
of any shares of Common Stock as a result of such Distribution to such extent) and the portion of such Distribution shall be held
in abeyance for the benefit of the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding
the Beneficial Ownership Limitation).

d) Fundamental
Transaction.
If, at any time while this Preferred Stock is outstanding, (i) the Corporation, directly or indirectly, in one
or more related transactions effects any merger or consolidation of the Corporation with or into another Person, (ii) the Corporation,
directly or indirectly, effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially
all of its assets in one or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange
offer (whether by the Corporation or another Person) is completed pursuant to which holders of Common Stock are permitted to sell,
tender or exchange their shares for other securities, cash or property and has been accepted by the holders of 50% or more of the
outstanding Common Stock, (iv) the Corporation, directly or indirectly, in one or more related transactions effects any reclassification,
reorganization or recapitalization of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively
converted into or exchanged for other securities, cash or property, or (v) the Corporation, directly or indirectly, in one or more
related transactions consummates a stock or share purchase agreement or other business combination (including, without limitation,
a reorganization, recapitalization, spin-off or scheme of arrangement) with another Person whereby such other Person acquires more
than 50% of the outstanding shares of Common Stock (not including any shares of Common Stock held by the other Person or other
Persons making or party to, or associated or affiliated with the other Persons making or party to, such stock or share purchase
agreement or other business combination) (each a “Fundamental Transaction”), then, upon any subsequent conversion
of this Preferred Stock, the Holder shall have the right to receive, for each Conversion Share that would have been issuable upon
such conversion immediately prior to the occurrence of such Fundamental Transaction (without regard to any limitation in Section
6(d) on the conversion of this Preferred Stock), the number of shares of Common Stock of the successor or acquiring corporation
or of the Corporation, if it is the surviving corporation, and any additional consideration (the “Alternate Consideration”)
receivable as a result of such Fundamental Transaction by a holder of the number of shares of Common Stock for which this Preferred
Stock is convertible immediately prior to such Fundamental Transaction (without regard to any limitation in Section 6(d) on the
conversion of this Preferred Stock). For purposes of any such conversion, the determination of the Conversion Price shall be appropriately
adjusted to apply to such Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one share
of Common Stock in such Fundamental Transaction, and the Corporation shall apportion the Conversion Price among the Alternate Consideration
in a reasonable manner reflecting the relative value of any different components of the Alternate Consideration. If holders of
Common Stock are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the
Holder shall be given the same choice as to the Alternate Consideration it receives upon any conversion of this Preferred Stock
following such Fundamental Transaction. To the extent necessary to effectuate the foregoing

provisions, any successor to the Corporation
or surviving entity in such Fundamental Transaction shall file a new Certificate of Designation with the same terms and conditions
and issue to the Holders new preferred stock consistent with the foregoing provisions and evidencing the Holders’ right to
convert such preferred stock into Alternate Consideration. The Corporation shall cause any successor entity in a Fundamental Transaction
in which the Corporation is not the survivor (the “Successor Entity”) to assume in writing all of the obligations
of the Corporation under this Certificate of Designation in accordance with the provisions of this Section 7(d) pursuant to written
agreements in form and substance reasonably satisfactory to the Holder and approved by the Holder (without unreasonable delay)
prior to such Fundamental Transaction and shall, at the option of the Holder, deliver to the Holder in exchange for this Preferred
Stock a security of the Successor Entity evidenced by a written instrument substantially similar in form and substance to this
Preferred Stock which is convertible for a corresponding number of shares of capital stock of such Successor Entity (or its parent
entity) equivalent to the shares of Common Stock acquirable and receivable upon conversion of this Preferred Stock (without regard
to any limitations on the conversion of this Preferred Stock) prior to such Fundamental Transaction, and with a conversion price
which applies the conversion price hereunder to such shares of capital stock (but taking into account the relative value of the
shares of Common Stock pursuant to such Fundamental Transaction and the value of such shares of capital stock and, such number
of shares of capital stock and such conversion price being for the purpose of protecting the economic value of this Preferred Stock
immediately prior to the consummation of such Fundamental Transaction), and which is reasonably satisfactory in form and substance
to the Holder. Upon the occurrence of any such Fundamental Transaction, the Successor Entity shall succeed to, and be substituted
for (so that from and after the date of such Fundamental Transaction, the provisions of this Certificate of Designation referring
to the “Corporation” shall refer instead to the Successor Entity), and may exercise every right and power of the Corporation
and shall assume all of the obligations of the Corporation under this Certificate of Designation with the same effect as if such
Successor Entity had been named as the Corporation herein.

e) Calculations.
All calculations under this Section 7 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be.
For purposes of this Section 7, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall
be the sum of the number of shares of Common Stock (excluding any treasury shares of the Corporation) issued and outstanding.

f) Notice
to the Holders.

i. Adjustment
to Conversion Price.
Whenever the Conversion Price is adjusted pursuant to any provision of this Section 7, the Corporation
shall promptly deliver to each Holder by facsimile or email a notice setting forth the Conversion Price after such adjustment and
setting forth a brief statement of the facts requiring such adjustment.

ii. Notice
to Allow Conversion by Holder.
If (A) the Corporation shall declare a dividend (or any other distribution in whatever form)
on the Common Stock, (B) the Corporation shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock,
(C) the Corporation shall authorize the granting to all holders of the Common Stock of rights or warrants to subscribe for or purchase
any shares of capital stock of any class or of any rights, (D) the approval of any stockholders of the Corporation shall be required
in connection with any reclassification of the Common Stock, any consolidation or merger to which the Corporation is a party, any
sale or transfer of all or substantially all of the assets of the Corporation, or any compulsory share exchange whereby the Common
Stock is converted into other securities, cash or property or (E) the Corporation shall authorize the voluntary or involuntary
dissolution, liquidation or winding up of the affairs of the Corporation, then, in each case, the Corporation shall cause to be
filed at each office or agency maintained for the purpose of conversion of this Preferred Stock, and shall cause to be delivered
by facsimile or email to each Holder at its last facsimile number or email address as it shall appear upon the stock books of the
Corporation, at least twenty (20) calendar days prior to the applicable record or effective date hereinafter specified, a notice
stating (x) the date on which a record is to be taken for the purpose of such dividend, distribution, redemption, rights or warrants,
or if a record is not to be taken, the date as of which the holders of the Common Stock of record to be entitled to such dividend,
distributions, redemption, rights or warrants are to be determined or (y) the date on which such reclassification, consolidation,
merger, sale, transfer or share exchange is expected to become

effective or close, and the date as of which it is expected that
holders of the Common Stock of record shall be entitled to exchange their shares of the Common Stock for securities, cash or other
property deliverable upon such reclassification, consolidation, merger, sale, transfer or share exchange, provided that the failure
to deliver such notice or any defect therein or in the delivery thereof shall not affect the validity of the corporate action required
to be specified in such notice. To the extent that any notice provided hereunder constitutes, or contains, material, non-public
information regarding the Corporation or any of the Subsidiaries, the Corporation shall simultaneously file such notice with the
Commission pursuant to a Current Report on Form 8-K. The Holder shall remain entitled to convert the Conversion Amount of this
Preferred Stock (or any part hereof) during the 20-day period commencing on the date of such notice through the effective date
of the event triggering such notice except as may otherwise be expressly set forth herein.

Section 8. Miscellaneous.

a) Notices.
Any and all notices or other communications or deliveries to be provided by the Holders hereunder including, without limitation,
any Notice of Conversion, shall be in writing and delivered personally, by facsimile or e-mail, or sent by a nationally recognized
overnight courier service, addressed to the Corporation, at the address set forth above Attention: Controller, facsimile number
(720) 437-6527, e-mail address ecreason@aytubio.com, or such other facsimile number, e-mail address or address as the Corporation
may specify for such purposes by notice to the Holders delivered in accordance with this Section 8. Any and all notices or other
communications or deliveries to be provided by the Corporation hereunder shall be in writing and delivered personally, by facsimile,
e-mail, or sent by a nationally recognized overnight courier service addressed to each Holder at the facsimile number, e-mail address
or address of such Holder appearing on the books of the Corporation. Any notice or other communication or deliveries hereunder
shall be deemed given and effective on the earliest of (i) the date of transmission, if such notice or communication is delivered
via facsimile at the facsimile number or e-mail at the e-mail address set forth in this Section 8 prior to 5:30 p.m. (New York
City time) on any date, (ii) the next Trading Day after the date of transmission, if such notice or communication is delivered
via facsimile at the facsimile number or e-mail at the e-mail address set forth in this Section on a day that is not a Trading
Day or later than 5:30 p.m. (New York City time) on any Trading Day, (iii) the second Trading Day following the date of mailing,
if sent by U.S. nationally recognized overnight courier service, or (iv) upon actual receipt by the party to whom such notice is
required to be given.

b) Absolute
Obligation.
Except as expressly provided herein, no provision of this Certificate of Designation shall alter or impair the
obligation of the Corporation, which is absolute and unconditional, to pay liquidated damages, and accrued dividends, as applicable,
on the shares of Preferred Stock at the time, place, and rate, and in the coin or currency, herein prescribed.

c) Lost
or Mutilated Preferred Stock Certificate.
If a Holder’s Preferred Stock certificate shall be mutilated, lost, stolen
or destroyed, the Corporation shall execute and deliver, in exchange and substitution for and upon cancellation of a mutilated
certificate, or in lieu of or in substitution for a lost, stolen or destroyed certificate, a new certificate for the shares of
Preferred Stock so mutilated, lost, stolen or destroyed, but only upon receipt of evidence of such loss, theft or destruction of
such certificate, and of the ownership hereof reasonably satisfactory to the Corporation.

d) Governing
Law.
All questions concerning the construction, validity, enforcement and interpretation of this Certificate of Designation
shall be governed by and construed and enforced in accordance with the internal laws of the State of Delaware without regard to
the principles of conflict of laws thereof. All legal proceedings concerning the interpretation, enforcement and defense of the
transactions contemplated by this Certificate of Designation (whether brought against a party hereto or its respective Affiliates,
directors, officers, shareholders, employees or agents) shall be commenced in the state and federal courts sitting in the City
of New York, Borough of Manhattan (the “New York Courts”). The Corporation and each Holder hereby irrevocably
submits to the exclusive jurisdiction of the New York Courts for the adjudication of any dispute hereunder or in connection herewith
or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any
suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of such New York Courts, or such New
York

Courts are improper
or inconvenient venue for such proceeding. The Corporation and each Holder hereby irrevocably waives personal service of process
and consents to process being served in any such suit, action or proceeding by mailing a copy thereof via registered or certified
mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Certificate
of Designation and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing
contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by applicable law.
The Corporation and each Holder hereto hereby irrevocably waives, to the fullest extent permitted by applicable law, any and all
right to trial by jury in any legal proceeding arising out of or relating to this Certificate of Designation or the transactions
contemplated hereby. If the Corporation or any Holder shall commence an action or proceeding to enforce any provisions of this
Certificate of Designation, then the prevailing party in such action or proceeding shall be reimbursed by the other party for
its attorneys’ fees and other costs and expenses incurred in the investigation, preparation and prosecution of such action
or proceeding.

e) Waiver.
Any waiver by the Corporation or a Holder of a breach of any provision of this Certificate of Designation shall not operate as
or be construed to be a waiver of any other breach of such provision or of any breach of any other provision of this Certificate
of Designation or a waiver by any other Holders. The failure of the Corporation or a Holder to insist upon strict adherence to
any term of this Certificate of Designation on one or more occasions shall not be considered a waiver or deprive that party (or
any other Holder) of the right thereafter to insist upon strict adherence to that term or any other term of this Certificate of
Designation on any other occasion. Any waiver by the Corporation or a Holder must be in writing.

f) Severability.
If any provision of this Certificate of Designation is invalid, illegal or unenforceable, the balance of this Certificate of Designation
shall remain in effect, and if any provision is inapplicable to any Person or circumstance, it shall nevertheless remain applicable
to all other Persons and circumstances. If it shall be found that any interest or other amount deemed interest due hereunder violates
the applicable law governing usury, the applicable rate of interest due hereunder shall automatically be lowered to equal the maximum
rate of interest permitted under applicable law.

g) Next
Business Day.
Whenever any payment or other obligation hereunder shall be due on a day other than a Business Day, such payment
shall be made on the next succeeding Business Day.

h) Headings.
The headings contained herein are for convenience only, do not constitute a part of this Certificate of Designation and shall not
be deemed to limit or affect any of the provisions hereof.

i) Status
of Converted or Redeemed Preferred Stock.
If any shares of Preferred Stock shall be converted, redeemed or reacquired by the
Corporation, such shares shall resume the status of authorized but unissued shares of preferred stock and shall no longer be designated
as Series H Convertible Preferred Stock.

*********************

RESOLVED, FURTHER, that the Chairman, the president
or any vice-president, and the secretary or any assistant secretary, of the Corporation be and they hereby are authorized and directed
to prepare and file this Certificate of Designation of Preferences, Rights and Limitations in accordance with the foregoing resolution
and the provisions of Delaware law.

IN WITNESS WHEREOF,
the undersigned have executed this Certificate this 14des milliers day of February, 2020.

/s/ Joshua R. Disbrow /s/ David A. Green
Name: Joshua R. Disbrow Name: David A. Green
Title: Chairman and Chief Executive Officer Title: Chief Financial Officer, Secretary and Treasurer

ANNEX A

NOTICE OF CONVERSION

(TO BE EXECUTED BY THE
REGISTERED HOLDER IN ORDER TO CONVERT SHARES OF PREFERRED STOCK)

The undersigned hereby elects to convert the
number of shares of Series H Convertible Preferred Stock indicated below into shares of common stock, par value $0.0001 per share
(the “Common Stock”), of Aytu BioScience, Inc., a Delaware corporation (the “Corporation”),
according to the conditions hereof, as of the date written below. If shares of Common Stock are to be issued in the name of a
Person other than the undersigned, the undersigned will pay all transfer taxes payable with respect thereto. No fee will be charged
to the Holders for any conversion, except for any such transfer taxes.

Conversion calculations:

Date to Effect Conversion:

Number of shares of Preferred Stock owned prior to Conversion:

Number of shares of Preferred Stock to be Converted:

Stated Value of shares of Preferred Stock to be Converted:

Number of shares of Common Stock to be Issued:

Applicable Conversion Price:

Number of shares of Preferred Stock subsequent to Conversion:

Address for Delivery:

or

DWAC Instructions:

(HOLDER)
By:
Name:
Title:

Formulaire SC 13D / A AYTU BIOSCIENCE, INC. Soumis par: ARMISTICE CAPITAL, LLC ◄ assurance santé entreprise
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