AGREEMENT OF MERGER

AGREEMENT OF MERGER

This Agreement of Merger (this “Agreement”) is entered into as of this September 19, 2014 between AFH Acquisition x, inc., a Delaware corporation (the “Purchaser”), BONE BIOLOGICS ACQUISITION CORP., a Delaware corporation (the “Merger Sub”), and BONE BIOLOGICS, INC., a California corporation (the “Target”).

The Purchaser, the Merger Sub and the Target hereby agree that at the Effective Time (as defined in this Agreement), the Target and the Merger Sub shall merge into a single corporation on the following terms and conditions (the “Merger”):

ARTICLE 1

MERGER

At the Effective Time (as defined below), the Merger Sub shall be merged with and into the Target. The Target shall be the surviving corporation (the “Surviving Corporation”). At the Effective Time, the separate corporate existence of the Merger Sub shall cease, and the Surviving Corporation shall succeed to the properties, rights, privileges, powers, immunities, and franchises of the Merger Sub. All rights of creditors and all liens on the property of the Merger Sub shall be preserved unimpaired, but limited to the property affected by such rights or liens immediately before the Merger.

Article 2

EFFECTIVE DATE

The Merger provided for in this Agreement shall become effective on the filing by and in the office of the California Secretary of State of an executed copy of this Agreement with all requisite accompanying certificates. The time of such filing is referred to in this Agreement as the “Effective Time.”

Article 3

Articles OF INCORPORATION; BYLAWS; BOARD OF DIRECTORS; OFFICERS

ARTICLE 4
CONVERSION OF SHARES

In and by virtue of the Merger, the shares of stock of the Merger Sub and the Target outstanding at the Effective Time shall be converted as follows:

ARTICLE 5
TERMINATION

This Agreement may be terminated at any time before the Effective Time (whether before or after approval) by action of the shareholders of the Target or by the mutual consent and action of the boards of directors of the Target and the Purchaser. This Agreement shall automatically be void and of no further force and effect if, before the Effective Time, the Agreement and Plan of Merger between the Purchaser, the Merger Sub and the Target as of September 19, 2014 is terminated in accordance with the terms of that Agreement and Plan of Merger.

ARTICLE 6
CHOICE OF LAW

The validity, interpretation, and performance of this Agreement shall be controlled by and construed under the laws of the State of California.

ARTICLE 7
COUNTERPARTS

This Agreement may be executed in two or more counterparts and such counterparts together shall constitute a single instrument. Delivery of an executed counterpart of this Agreement by electronic means, including by facsimile transmission or by other means of electronic delivery including in portable document format (“.pdf”), shall be equally effective as delivery of a manually executed counterpart hereof. The Parties acknowledge and agree that in any legal proceedings between them respecting or in any way relating to this Agreement, each waives the right to raise any defense based on the execution hereof in counterparts or the delivery of such executed counterparts by electronic means.

IN WITNESS WHEREOF, the parties to this Agreement have duly executed it on the day and year first above written.

[Remainder of page intentionally left blank; Signatures to follow]

Certificate of Approval

of

Agreement of Merger

William Jay Treat certifies that:

1. He is the president and the secretary of Bone Biologics, Inc., a California corporation.

2. The principal terms of the Agreement of Merger in the form attached were duly approved by the board of directors and by the shareholders of the corporation by a vote that equaled or exceeded the vote required.

3. There are three classes of shares. The number of outstanding shares of Bone Biologics, Inc. entitled to vote on the merger consists of 8,256,895 shares of Common Stock, 493,339 shares of Series A Preferred Stock and 5,336,099 shares of Series B Preferred Stock. Pursuant to the Bylaws of Bone Biologics, Inc., the Series A Preferred, Series B Preferred, and Common Stock vote together as though they were a single class. Approval by more than fifty percent of the total outstanding Series A Preferred, Series B Preferred, and Common Stock is required to approve the merger. A vote of more than fifty percent of the total Series A Preferred, Series B Preferred, and Common Stock outstanding was obtained approving the Agreement of Merger.

We further declare under penalty of perjury under the laws of the State of California that the matters set forth in this certificate are true and correct of our own knowledge.

Certificate of Approval

of

Agreement of Merger

Don R. Hankey certifies that:

1. He is the president and the secretary of Bone Biologics Acquisitions Corp., a Delaware corporation.

2. The principal terms of the Agreement of Merger in the form attached were duly approved by the board of directors and by the shareholders of the corporation by a vote that equaled or exceeded the vote required.

3. The shareholder approval was by the holders of 100% of the outstanding shares of the corporation.

4. There is only one class of shares and the number of shares outstanding entitled to vote on the merger is 100.

5. The principal terms of the Agreement of Merger in the form attached were duly approved by the shareholders of Bone Biologics Acquisition Corp.’s parent corporation, AFH Acquisition X, Inc., a Delaware corporation, by a vote that equaled or exceeded the vote required. Shareholder approval was by the holders of 100% of the outstanding shares of AFH Acquisition X, Inc.

We further declare under penalty of perjury under the laws of the State of California that the matters set forth in this certificate are true and correct of our own knowledge.