Common use of Purchase of Option Shares Clause in Contracts

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

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

Purchase of Option Shares. Gentlemen: In accordance with my Stock Option Agreement, dated as of _____________, 2021, with Propel Media, PAVmed Inc. (“Company”), under the Company’s 2014 Long-Term Incentive Equity Plan, I hereby irrevocably elect to exercise the right to purchase _____________ shares of the Company’s common stock, par value $.0001 per share (“Common Stock”), which are being purchased for investment and not for resale. As payment for my shares, enclosed is (check and complete applicable boxes): ☐ [ ] a ☐ [ ] personal check or ☐ [ ] certified check or ☐ [ ] bank check payable to the order of “Propel Media, PAVmed Inc.” in the sum of $_____________; ☐ [ ] confirmation of wire transfer in the amount of $_____________; and/or ☐ [ ] with the consent of the Company, a certificate for _____________ shares of the Company’s Common Stock, free and clear of any encumbrances, duly endorsed, having a Fair Market Value (as such term is defined in the 2014 Long-Term Incentive Equity Plan) of $_____________. I hereby represent and warrant to, and agree with, the Company that:

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

Purchase of Option Shares. Gentlemen: In accordance with my Stock Option Agreement, dated as of _____________March 20, 2017, with Propel Media, PAVmed Inc. (“Company”), under the Company’s 2014 Long-Term Incentive Equity Plan, I hereby irrevocably elect to exercise the right to purchase _____________ shares of the Company’s common stock, par value $.0001 per share (“Common Stock”), which are being purchased for investment and not for resale. As payment for my shares, enclosed is (check and complete applicable boxes): ☐ a ☐ ☐personal check or ☐ ¨ certified check or ☐ bank check payable to the order of “Propel Media, PAVmed Inc.” in the sum of $_____________; ☐ confirmation of wire transfer in the amount of $_____________; and/or ☐ with the consent of the Company, a certificate for _____________ shares of the Company’s Common Stock, free and clear of any encumbrances, duly endorsed, having a Fair Market Value (as such term is defined in the 2014 Long-Term Incentive Equity Plan) of $_____________. I hereby represent and warrant to, and agree with, the Company that:

Purchase of Option Shares. Gentlemen: In accordance with my Stock Option Agreement, dated as of _____________, 2016, with Propel Media, PAVmed Inc. (“Company”), under the Company’s 2014 Long-Term Incentive Equity Plan, I hereby irrevocably elect to exercise the right to purchase _____________ shares of the Company’s common stock, par value $.0001 per share (“Common Stock”), which are being purchased for investment and not for resale. As payment for my shares, enclosed is (check and complete applicable boxes): ☐ [ ] a ☐ [ ] personal check or ☐ [ ] certified check or ☐ [ ] bank check payable to the order of “Propel Media, PAVmed Inc.” in the sum of $_____________; ☐ [ ] confirmation of wire transfer in the amount of $_____________; and/or ☐ [ ] with the consent of the Company, a certificate for _____________ shares of the Company’s Common Stock, free and clear of any encumbrances, duly endorsed, having a Fair Market Value (as such term is defined in the 2014 Long-Term Incentive Equity Plan) of $_____________. I hereby represent and warrant to, and agree with, the Company that: