Exhibit
10.1


 


RIGHT
OF FIRST REFUSAL

AND CO-SALE AGREEMENT


 


THIS
RIGHT OF FIRST REFUSAL AND CO-SALE AGREEMENT (this “Agreement”), is made as of April ____, 2022 by and among Auradine,
Inc., a Delaware corporation (the “Company”), the Investors (as defined below) listed on Schedule A and the
Key Holders (as defined below) listed on Schedule B.


 


WHEREAS,
each Key Holder is the beneficial owner of shares of Capital Stock, or of options to purchase Common Stock;


 


WHEREAS,
the Company and the Investors are parties to that certain Series A Preferred Stock Purchase Agreement, of even date herewith (the
“Purchase Agreement”), pursuant to which the Investors have agreed to purchase shares of the Company’s Series
A-1 Preferred Stock, par value $0.00001 per share, shares of the Company’s Series A-2 Preferred Stock, par value $0.00001 per share,
shares of the Company’s Series A-3 Preferred Stock, par value $0.00001 per share, and shares of the Company’s Series A-4
Preferred Stock, par value $0.00001 per share (collectively, “Series A Preferred Stock”); and


 


WHEREAS,
the Key Holders and the Company desire to further induce the Investors to purchase the Series A Preferred Stock;


 


1.
Definitions.


 


1.1
“Affiliate” means, with respect to any specified Investor, any other Investor who directly or indirectly, controls,
is controlled by or is under common control with such Investor, including, without limitation, any general partner, managing member,
officer, director or trustee of such Investor, or any venture capital fund or other investment fund now or hereafter existing which is
controlled by one (1) or more general partners, managing members or investment advisers of, or shares the same management company or
investment adviser with, such Investor.


 


1.2
“Board of Directors” means the board of directors of the Company.


 


1.3
“Capital Stock” means (a) shares of Common Stock and Series A Preferred Stock (whether now outstanding or hereafter
issued in any context), (b) shares of Common Stock issued or issuable upon conversion of Series A Preferred Stock, and (c) shares of
Common Stock issued or issuable upon exercise or conversion, as applicable, of stock options, warrants or other convertible securities
of the Company, in each case now owned or subsequently acquired by any Key Holder, any Investor, or their respective successors or permitted
transferees or assigns. For purposes of the number of shares of Capital Stock held by an Investor or Key Holder (or any other calculation
based thereon), all shares of Series A Preferred Stock shall be deemed to have been converted into Common Stock at the then-applicable
conversion ratio.


 


1.4
“Change of Control” means a transaction or series of related transactions in which a person, or a group of related
persons, acquires from stockholders of the Company shares representing more than fifty percent (50%) of the outstanding voting power
of the Company.


 






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1.5
“Common Stock” means shares of Common Stock of the Company, $0.00001 par value per share.


 


1.6
“Company Notice” means written notice from the Company notifying the selling Key Holders and each Investor that the
Company intends to exercise its Right of First Refusal as to some or all of the Transfer Stock with respect to any Proposed Key Holder
Transfer.


 


1.7
“Investor Notice” means written notice from any Investor notifying the Company and the selling Key Holder(s) that
such Investor intends to exercise its Secondary Refusal Right as to a portion of the Transfer Stock with respect to any Proposed Key
Holder Transfer.


 


1.8
“Investors” means the persons named on Schedule A hereto, each person to whom the rights of an Investor are
assigned pursuant to Section 6.9; provided, however, that upon the Second Tranche Closing (as defined in the Purchase Agreement),
if any aforementioned person has not purchased its entire number of Additional A-4 Shares (as defined in the Purchase Agreement) set
forth opposite such person’s name on Exhibit A to the Purchase Agreement as of the Initial Closing (as defined in the Purchase
Agreement), such person shall not be deemed an Investor for purposes of this Agreement under any circumstances; provided further that
any such person shall cease to be considered an Investor for purposes of this Agreement at any time such person and his, her or its Affiliates
collectively hold fewer than eighty-five percent (85%) of the total number of shares of Series A Preferred Stock purchased by such person
at the Closings (as defined in the Purchase Agreement).


 


1.9
“Key Holders” means the persons named on Schedule B hereto, each person to whom the rights of a Key Holder
are assigned pursuant to Section 3.1, each person who hereafter becomes a signatory to this Agreement pursuant to Section 6.9
or 6.17 and any one of them, as the context may require.


 


1.10
“Proposed Key Holder Transfer” means any assignment, sale, offer to sell, pledge, mortgage, hypothecation, encumbrance,
disposition of or any other like transfer or encumbering of any Transfer Stock (or any interest therein) proposed by any of the Key Holders.


 


1.11
“Proposed Transfer Notice” means written notice from a Key Holder setting forth the terms and conditions of a Proposed
Key Holder Transfer.


 


1.12
“Prospective Transferee” means any person to whom a Key Holder proposes to make a Proposed Key Holder Transfer.


 


1.13
“Restated Certificate” means the Company’s Amended and Restated Certificate of Incorporation, as amended and/or
restated from time to time.


 


1.14
“Reverse Merger” means the merger of the Company with a company whose shares are registered under the Securities Exchange
Act of 1934, as amended, and whose shares are listed for traded on a securities exchange (an “Acquiror”), or a merger
with an affiliate of such Acquiror.


 






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1.15
“Right of Co-Sale” means the right, but not an obligation, of an Investor to participate in a Proposed Key Holder
Transfer on the terms and conditions specified in the Proposed Transfer Notice.


 


1.16
“Right of First Refusal” means the right, but not an obligation, of the Company, or its permitted transferees or assigns,
to purchase some or all of the Transfer Stock with respect to a Proposed Key Holder Transfer, on the terms and conditions specified in
the Proposed Transfer Notice.


 


1.17
“Secondary Notice” means written notice from the Company notifying the Investors and the selling Key Holder that the
Company does not intend to exercise its Right of First Refusal as to all shares of any Transfer Stock with respect to a Proposed Key
Holder Transfer, on the terms and conditions specified in the Proposed Transfer Notice.


 


1.18
“Secondary Refusal Right” means the right, but not an obligation, of each Investor to purchase up to its pro rata
portion (based upon the total number of shares of Capital Stock then held by all Investors) of any Transfer Stock not purchased pursuant
to the Right of First Refusal, on the terms and conditions specified in the Proposed Transfer Notice.


 


1.19
“Transfer Stock” means shares of Capital Stock owned by a Key Holder, or issued to a Key Holder after the date hereof
(including, without limitation, in connection with any stock split, stock dividend, recapitalization, reorganization, or the like), but
does not include any shares of Series A Preferred Stock or of Common Stock that are issued or issuable upon conversion of Series A Preferred
Stock.


 


1.20
“Undersubscription Notice” means written notice from an Investor notifying the Company and the selling Key Holder
that such Investor intends to exercise its option to purchase all or any portion of the Transfer Stock not purchased pursuant to the
Right of First Refusal or the Secondary Refusal Right.


 


2.
Agreement Among the Company, the Investors and the Key Holders.


 


2.1
Right of First Refusal.


 


(a)
Grant. Subject to the terms of Section 3 below, each Key Holder hereby unconditionally and irrevocably grants to the Company
a Right of First Refusal to purchase all or any portion of Transfer Stock that such Key Holder may propose to transfer in a Proposed
Key Holder Transfer, at the same price and on the same terms and conditions as those offered to the Prospective Transferee.


 


(b)
Notice. Each Key Holder proposing to make a Proposed Key Holder Transfer must deliver a Proposed Transfer Notice to the Company
and each Investor not later than forty-five (45) days prior to the consummation of such Proposed Key
Holder Transfer. Such Proposed Transfer Notice shall contain the material terms and conditions (including price and form of consideration)
of the Proposed Key Holder Transfer, the identity of the Prospective Transferee and the intended date of the Proposed Key Holder Transfer.
To exercise its Right of First Refusal under this Section 2, the Company must deliver a Company Notice to the selling Key Holder
and the Investors within fifteen (15) days after delivery of the Proposed Transfer Notice specifying the number of shares of Transfer
Stock to be purchased by the Company. In the event of a conflict between this Agreement and any other agreement that may have been entered
into by a Key Holder with the Company that contains a preexisting right of first refusal, the Company and the Key Holder acknowledge
and agree that the terms of this Agreement shall control and the preexisting right of first refusal shall be deemed satisfied by compliance
with Section 2.1(a) and this Section 2.1(b).


 






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(c)
Grant of Secondary Refusal Right to the Investors. Subject to the terms of Section 3 below, each Key Holder hereby unconditionally
and irrevocably grants to the Investors a Secondary Refusal Right to purchase all or any portion of the Transfer Stock not purchased
by the Company pursuant to the Right of First Refusal, as provided in this Section 2.1(c). If the Company does not provide the
Company Notice exercising its Right of First Refusal with respect to all Transfer Stock subject to a Proposed Key Holder Transfer, the
Company must deliver a Secondary Notice to the selling Key Holder and to each Investor to that effect no later than fifteen (15) days
after the selling Key Holder delivers the Proposed Transfer Notice to the Company. To exercise its Secondary Refusal Right, an Investor
must deliver an Investor Notice to the selling Key Holder and the Company within ten (10) days after the Company’s deadline for
its delivery of the Secondary Notice as provided in the preceding sentence.


 


(d)
Undersubscription of Transfer Stock. If options to purchase have been exercised by the Company and the Investors pursuant to Sections
2.1(b) and (c) with respect to some but not all of the Transfer Stock by the end of the ten (10) day period specified in the
last sentence of Section 2.1(c) (the “Investor Notice Period”), then the Company shall, within five (5) days
after the expiration of the Investor Notice Period, send written notice (the “Company Undersubscription Notice”) to
those Investors who fully exercised their Secondary Refusal Right within the Investor Notice Period (the “Exercising Investors”).
Each Exercising Investor shall, subject to the provisions of this Section 2.1(d), have an additional option to purchase all or
any part of the balance of any such remaining unsubscribed shares of Transfer Stock on the terms and conditions set forth in the Proposed
Transfer Notice. To exercise such option, an Exercising Investor must deliver an Undersubscription Notice to the selling Key Holder and
the Company within ten (10) days after the expiration of the Investor Notice Period. In the event there are two (2) or more such Exercising
Investors that choose to exercise the last-mentioned option for a total number of remaining shares in excess of the number available,
the remaining shares available for purchase under this Section 2.1(d) shall be allocated to such Exercising Investors pro rata
based on the number of shares of Transfer Stock such Exercising Investors have elected to purchase pursuant to the Secondary Refusal
Right (without giving effect to any shares of Transfer Stock that any such Exercising Investor has elected to purchase pursuant to the
Company Undersubscription Notice). If the options to purchase the remaining shares are exercised in full by the Exercising Investors,
the Company shall immediately notify all of the Exercising Investors and the selling Key Holder of that fact.


 


(e)
Consideration; Closing. If the consideration proposed to be paid for the Transfer Stock is in property, services or other non-cash
consideration, the fair market value of the consideration shall be as determined in good faith by the Board of Directors and as set forth
in the Company Notice. If the Company or any Investor cannot for any reason pay for the Transfer Stock in the same form of non-cash consideration,
the Company or such Investor may pay the cash value equivalent thereof, as determined in good faith by the Board of Directors and as
set forth in the Company Notice. The closing of the purchase of Transfer Stock by the Company and the Investors shall take place, and
all payments from the Company and the Investors shall have been delivered to the selling Key Holder, by the later of (i) the date specified
in the Proposed Transfer Notice as the intended date of the Proposed Key Holder Transfer; and (ii) forty-five (45) days after delivery
of the Proposed Transfer Notice.


 






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2.2
Right of Co-Sale.


 


(a)
Exercise of Right. If any Transfer Stock subject to a Proposed Key Holder Transfer is not purchased pursuant to Section 2.1
above and thereafter is to be sold to a Prospective Transferee, each respective Investor may elect to exercise its Right of Co-Sale
and participate on a pro rata basis in the Proposed Key Holder Transfer as set forth in Section 2.2(b) below and, subject to Section
2.2(d), otherwise on the same terms and conditions specified in the Proposed Transfer Notice. Each Investor who desires to exercise
its Right of Co-Sale (each, a “Participating Investor”) must give the selling Key Holder written notice to that effect
within fifteen (15) days after the deadline for delivery of the Secondary Notice described above, and upon giving such notice such Participating
Investor shall be deemed to have effectively exercised the Right of Co-Sale.


 


(b)
Shares Includable. Each Participating Investor may include in the Proposed Key Holder Transfer all or any part of such Participating
Investor’s Capital Stock equal to the product obtained by multiplying (i) the aggregate number of shares of Transfer Stock subject
to the Proposed Key Holder Transfer (excluding shares purchased by the Company or the Participating Investors pursuant to the Right of
First Refusal or the Secondary Refusal Right) by (ii) a fraction, the numerator of which is the number of shares of Capital Stock owned
by such Participating Investor immediately before consummation of the Proposed Key Holder Transfer (including any shares that such Participating
Investor has agreed to purchase pursuant to the Secondary Refusal Right) and the denominator of which is the total number of shares of
Capital Stock owned, in the aggregate, by all Participating Investors immediately prior to the consummation of the Proposed Key Holder
Transfer (including any shares that all Participating Investors have collectively agreed to purchase pursuant to the Secondary Refusal
Right), plus the number of shares of Transfer Stock held by the selling Key Holder. To the extent one (1) or more of the Participating
Investors exercise such right of participation in accordance with the terms and conditions set forth herein, the number of shares of
Transfer Stock that the selling Key Holder may sell in the Proposed Key Holder Transfer shall be correspondingly reduced.


 


(c)
Purchase and Sale Agreement. The Participating Investors and the selling Key Holder agree that the terms and conditions of any
Proposed Key Holder Transfer in accordance with this Section 2.2 will be memorialized in, and governed by, a written purchase
and sale agreement with the Prospective Transferee (the “Purchase and Sale Agreement”) with customary terms and provisions
for such a transaction, and the Participating Investors and the selling Key Holder further covenant and agree to enter into such Purchase
and Sale Agreement as a condition precedent to any sale or other transfer in accordance with this Section 2.2.


 






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(d)
Allocation of Consideration.


 


(i)
Subject to Section 2.2(d)(ii), the aggregate consideration payable to the Participating Investors and the selling Key Holder shall
be allocated based on the number of shares of Capital Stock sold to the Prospective Transferee by each Participating Investor and the
selling Key Holder as provided in Section 2.2(b), provided that if a Participating Investor wishes to sell Series A Preferred
Stock, the price set forth in the Proposed Transfer Notice shall be appropriately adjusted based on the conversion ratio of the Series
A Preferred Stock into Common Stock.


 


(ii)
In the event that the Proposed Key Holder Transfer constitutes a Change of Control, the terms of the Purchase and Sale Agreement shall
provide that the aggregate consideration from such transfer shall be allocated to the Participating Investors and the selling Key Holder
in accordance with Sections 2.1 and 2.2 of Article IV(B) of the Restated Certificate and, if applicable, the next sentence,
as if (A) such transfer were a Deemed Liquidation Event (as defined in the Restated Certificate), and (B) the Capital Stock sold in accordance
with the Purchase and Sale Agreement were the only Capital Stock outstanding. In the event that a portion of the aggregate consideration
payable to the Participating Investor(s) and selling Key Holder is placed into escrow and/or is payable only upon satisfaction of contingencies,
the Purchase and Sale Agreement shall provide that (x) the portion of such consideration that is not placed in escrow and is not subject
to contingencies (the “Initial Consideration”) shall be allocated in accordance with Sections 2.1 and 2.2
of Article IV(B) of the Restated Certificate as if the Initial Consideration were the only consideration payable in connection with
such transfer, and (y) any additional consideration which becomes payable to the Participating Investor(s) and selling Key Holder upon
release from escrow or satisfaction of such contingencies shall be allocated in accordance with Sections 2.1 and 2.2 of
Article IV(B) of the Restated Certificate after taking into account the previous payment of the Initial Consideration as part of the
same transfer.


 


(e)
Purchase by Selling Key Holder; Deliveries. Notwithstanding Section 2.2(c) above, if any Prospective Transferee(s) refuse(s)
to purchase securities subject to the Right of Co-Sale from any Participating Investor or Investors or upon the failure to negotiate
in good faith a Purchase and Sale Agreement reasonably satisfactory to the Participating Investors, no Key Holder may sell any Transfer
Stock to such Prospective Transferee(s) unless and until, simultaneously with such sale, such Key Holder purchases all securities subject
to the Right of Co-Sale from such Participating Investor or Investors on the same terms and conditions (including the proposed purchase
price) as set forth in the Proposed Transfer Notice and as provided in Section 2.2(d)(i); provided, however,
if such sale constitutes a Change of Control, the portion of the aggregate consideration paid by the selling Key Holder to such Participating
Investor or Investors shall be made in accordance with the first sentence of Section 2.2(d)(ii). In connection with such purchase
by the selling Key Holder, such Participating Investor or Investors shall deliver to the selling Key Holder any stock certificate or
certificates, properly endorsed for transfer, representing the Capital Stock being purchased by the selling Key Holder (or request that
the Company effect such transfer in the name of the selling Key Holder). Any such shares transferred to the selling Key Holder will be
transferred to the Prospective Transferee against payment therefor in consummation of the sale of the Transfer Stock pursuant to the
terms and conditions specified in the Proposed Transfer Notice, and the selling Key Holder shall concurrently therewith remit or direct
payment to each such Participating Investor the portion of the aggregate consideration to which each such Participating Investor is entitled
by reason of its participation in such sale as provided in this Section 2.2(e).


 






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(f)
Additional Compliance. If any Proposed Key Holder Transfer is not consummated within sixty (60) days after receipt of the Proposed
Transfer Notice by the Company, the Key Holders proposing the Proposed Key Holder Transfer may not sell any Transfer Stock unless they
first comply in full with each provision of this Section 2. The exercise or election not to exercise any right by any Investor
hereunder shall not adversely affect its right to participate in any other sales of Transfer Stock subject to this Section 2.2.


 


2.3
Effect of Failure to Comply.


 


(a)
Transfer Void; Equitable Relief. Any Proposed Key Holder Transfer not made in compliance with the requirements of this Agreement
shall be null and void ab initio, shall not be recorded on the books of the Company or its transfer agent and shall not be recognized
by the Company. Each party hereto acknowledges and agrees that any breach of this Agreement would result in substantial harm to the other
parties hereto for which monetary damages alone could not adequately compensate. Therefore, the parties hereto unconditionally and irrevocably
agree that any non-breaching party hereto shall be entitled to seek protective orders, injunctive relief and other remedies available
at law or in equity (including, without limitation, seeking specific performance or the rescission of purchases, sales and other transfers
of Transfer Stock not made in strict compliance with this Agreement).


 


(b)
Violation of First Refusal Right. If any Key Holder becomes obligated to sell any Transfer Stock to the Company or any Investor
under this Agreement and fails to deliver such Transfer Stock in accordance with the terms of this Agreement, the Company and/or such
Investor may, at its option, in addition to all other remedies it may have, send to such Key Holder the purchase price for such Transfer
Stock as is herein specified and transfer to the name of the Company or such Investor (or request that the Company effect such transfer
in the name of an Investor) on the Company’s books any certificates, instruments, or book entry representing the Transfer Stock
to be sold.


 


(c)
Violation of Co-Sale Right. If any Key Holder purports to sell any Transfer Stock in contravention of the Right of Co-Sale (a
“Prohibited Transfer”), each Participating Investor who desires to exercise its Right of Co-Sale under Section
2.2 may, in addition to such remedies as may be available by law, in equity or hereunder, require such Key Holder to purchase from
such Participating Investor the type and number of shares of Capital Stock that such Participating Investor would have been entitled
to sell to the Prospective Transferee had the Prohibited Transfer been effected in compliance with the terms of Section 2.2. The
sale will be made on the same terms, including, without limitation, as provided in Section 2.2(d)(i) and the first sentence of
Section 2.2(d)(ii), as applicable, and subject to the same conditions as would have applied had the Key Holder not made the Prohibited
Transfer, except that the sale (including, without limitation, the delivery of the purchase price) must be made within ninety (90) days
after the Participating Investor learns of the Prohibited Transfer, as opposed to the timeframe proscribed in Section 2.2. Such
Key Holder shall also reimburse each Participating Investor for any and all reasonable and documented out-of-pocket fees and expenses,
including reasonable legal fees and expenses, incurred pursuant to the exercise or the attempted exercise of the Participating Investor’s
rights under Section 2.2.


 






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3.
Exempt Transfers.


 


3.1
Exempted Transfers. Notwithstanding the foregoing or anything to the contrary herein, the provisions of Sections 2.1 and
2.2 shall not apply (a) in the case of a Key Holder that is an entity, upon a transfer by such Key Holder to its stockholders,
members, partners or other equity holders, (b) to a repurchase of Transfer Stock from a Key Holder by the Company at a price no greater
than that originally paid by such Key Holder for such Transfer Stock and pursuant to an agreement containing vesting and/or repurchase
provisions approved by a majority of the Board of Directors, or (c) in the case of a Key Holder that is a natural person, upon a transfer
of Transfer Stock by such Key Holder made for bona fide estate planning purposes, either during his or her lifetime or on death by will
or intestacy to his or her spouse, including any life partner or similar statutorily-recognized domestic partner, child (natural or adopted),
or any other direct lineal descendant of such Key Holder (or his or her spouse, including any life partner or similar statutorily-recognized
domestic partner) (all of the foregoing collectively referred to as “family members”), or any other relative approved by
unanimous consent of the Board of Directors, or any custodian or trustee of any trust, partnership or limited liability company for the
benefit of, or the ownership interests of which are owned wholly by such Key Holder or any such family members; provided that
in the case of clause (a) or (c), the Key Holder shall deliver prior written notice to the Investors of such pledge, gift
or transfer and such shares of Transfer Stock shall at all times remain subject to the terms and restrictions set forth in this Agreement
and such transferee shall, as a condition to such transfer, deliver a counterpart signature page to this Agreement as confirmation that
such transferee shall be bound by all the terms and conditions of this Agreement as a Key Holder (but only with respect to the securities
so transferred to the transferee), including the obligations of a Key Holder with respect to Proposed Key Holder Transfers of such Transfer
Stock pursuant to Section 2.


 


3.2
Exempted Offerings. Notwithstanding the foregoing or anything to the contrary herein, the provisions of Section 2 shall
not apply to the sale of any Transfer Stock (a) to the public in an offering pursuant to an effective registration statement under the
Securities Act of 1933, as amended; or (b) pursuant to a Deemed Liquidation Event (as defined in the Restated Certificate).


 


3.3
Prohibited Transferees. Notwithstanding the foregoing, no Key Holder shall transfer any Transfer Stock to (a) any entity which,
in the determination of the Board of Directors, directly or indirectly competes with the Company; or (b) any customer, distributor or
supplier of the Company, if the Board of Directors should determine that such transfer would result in such customer, distributor or
supplier receiving information that would place the Company at a competitive disadvantage with respect to such customer, distributor
or supplier.


 


4.
Legend. Each certificate, instrument, or book entry representing shares of Transfer Stock held by the Key Holders or issued to
any permitted transferee in connection with a transfer permitted by Section 3.1 hereof shall be notated with the following legend:


 






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THE
SALE, PLEDGE, HYPOTHECATION, OR TRANSFER OF THE SECURITIES REPRESENTED HEREBY IS SUBJECT TO, AND IN CERTAIN CASES PROHIBITED BY, THE
TERMS AND CONDITIONS OF A CERTAIN RIGHT OF FIRST REFUSAL AND CO-SALE AGREEMENT BY AND AMONG THE STOCKHOLDER, THE CORPORATION AND CERTAIN
OTHER HOLDERS OF STOCK OF THE CORPORATION. COPIES OF SUCH AGREEMENT MAY BE OBTAINED UPON WRITTEN REQUEST TO THE SECRETARY OF THE CORPORATION.


 


Each
Key Holder agrees that the Company may instruct its transfer agent to impose transfer restrictions on the shares notated with the legend
referred to in this Section 4 above to enforce the provisions of this Agreement, and the Company agrees to promptly do so. The
legend shall be removed upon termination of this Agreement at the request of the holder.


 


5.
Lock-Up.


 


5.1
Agreement to Lock-Up. Each Key Holder hereby agrees that it will not, without the prior written consent of the managing underwriter,
during the period commencing on the date of the final prospectus relating to the Company’s initial public offering (the “IPO”)
and ending on the date specified by the Company and the managing underwriter (such period not to exceed one hundred eighty (l80) days,
or such other period as may be requested by the Company or an underwriter to accommodate regulatory restrictions on (1) the publication
or other distribution of research reports; and (2) analyst recommendations and opinions, including, but not limited to, the restrictions
contained in applicable FINRA rules, or any successor provisions or amendments thereto), or in the case of a Reverse Merger, during the
period commencing on the date of the closing of the Reverse Merger and ending on the date that is one hundred eighty (180) days after
such closing, (a) lend, offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract
to sell, grant any option, right or warrant to purchase, or otherwise transfer or dispose of, directly or indirectly, any shares of Capital
Stock held immediately prior to the effectiveness of the registration statement for the IPO or the closing of the Reverse Merger; or
(b) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership
of the Capital Stock, whether any such transaction described in clause (a) or (b) above is to be settled by delivery of
Capital Stock or other securities, in cash or otherwise. The foregoing provisions of this Section 5 shall not apply to the sale
of any shares to an underwriter pursuant to an underwriting agreement, and shall only be applicable to the Key Holders if all officers,
directors and holders of more than two percent (2%) of the outstanding Common Stock (after giving effect to the conversion into Common
Stock of all outstanding Series A Preferred Stock) enter into similar agreements. The underwriters in connection with the IPO, and the
Acquiror in connection with the Reverse Merger, are intended third-party beneficiaries of this Section 5 and shall have the right,
power and authority to enforce the provisions hereof as though they were a party hereto. Each Key Holder further agrees to execute such
agreements as may be reasonably requested by the underwriters in the IPO or the Acquiror in the Reverse Merger that are consistent with
this Section 5 or that are necessary to give further effect thereto.


 






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5.2
Stop Transfer Instructions. In order to enforce the foregoing covenant, the Company may impose stop-transfer instructions with
respect to the shares of Capital Stock of each Key Holder (and transferees and assignees thereof) until the end of such restricted period.


 


6.
Miscellaneous.


 


6.1
Term. This Agreement shall automatically terminate upon the earlier of (a) immediately prior to the consummation of the Company’s
IPO or the Reverse Merger; (b) when the Company first becomes subject to the periodic reporting requirements of Section 12(g) or 15(d)
of the Securities Exchange Act of 1934, as amended, and (c) the consummation of a Deemed Liquidation Event (as defined in the Restated
Certificate).


 


6.2
Stock Split. All references to numbers of shares in this Agreement shall be appropriately adjusted to reflect any stock dividend,
split, combination or other recapitalization affecting the Capital Stock occurring after the date of this Agreement.


 


6.3
Ownership. Each Key Holder represents and warrants that such Key Holder is the sole legal and beneficial owner of the shares of
Transfer Stock subject to this Agreement and that no other person or entity has any interest in such shares (other than a community property
interest as to which the holder thereof has acknowledged and agreed in writing to the restrictions and obligations hereunder).


 


6.4
Dispute Resolution. The parties (a) hereby irrevocably and unconditionally submit to the jurisdiction of the state courts of California
and to the jurisdiction of the United States District Court for the Northern District of California for the purpose of any suit, action
or other proceeding arising out of or based upon this Agreement, (b) agree not to commence any suit, action or other proceeding arising
out of or based upon this Agreement except in the state courts of California or the United States District Court for the Northern District
of California, and (c) hereby waive, and agree not to assert, by way of motion, as a defense, or otherwise, in any such suit, action
or proceeding, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt
or immune from attachment or execution, that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the
suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not be enforced in or by such court.


 


Waiver
of Jury Trial: EACH PARTY HEREBY WAIVES ITS RIGHTS TO
A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT, THE OTHER TRANSACTION AGREEMENTS, THE SECURITIES
OR THE SUBJECT MATTER HEREOF OR THEREOF. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY
BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT
CLAIMS (INCLUDING NEGLIGENCE), BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. THIS SECTION HAS BEEN FULLY DISCUSSED
BY EACH OF THE PARTIES HERETO AND THESE PROVISIONS WILL NOT BE SUBJECT TO ANY EXCEPTIONS. EACH PARTY HERETO HEREBY FURTHER WARRANTS AND
REPRESENTS THAT SUCH PARTY HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL, AND THAT SUCH PARTY KNOWINGLY AND VOLUNTARILY WAIVES ITS
JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL.


 






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6.5
Notices.


 


(a)
All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively given
upon the earlier of actual receipt or (a) personal delivery to the party to be notified, (b) when sent, if sent by electronic mail during
normal business hours of the recipient, and if not sent during normal business hours, then on the recipient’s next business day,
(c) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one (1) business
day after deposit with a nationally recognized overnight courier, freight prepaid, specifying next business day delivery, with written
verification of receipt. All communications shall be sent to the respective parties at their address as set forth on Schedule A
or Schedule B hereof, as the case may be, or to such email address or address as subsequently modified by written notice given
in accordance with this Section 6.5. If notice is given to the Company, it shall be sent to 985 Paradise Way, Palo Alto, CA 94306,
Attn: Barun Kar; and a copy (which copy shall not constitute notice) shall also be sent to Paul Hastings LLP, 1117 S. California
Avenue, Palo Alto, CA 94304, Attn: Jeff Hartlin, Email: jeffhartlin@paulhastings.com; and if notice is given to the Investors,
a copy (which copy shall not constitute notice) shall also be given to Sage Law Group LLC, 1550 Wewatta Street, Suite 200, Denver, CO
80202, Attn: Rose Standifer, Email: rstandifer@sagelawgroup.com.


 


(b)
Consent to Electronic Notice. Each Investor and Key Holder consents to the delivery of any stockholder notice pursuant to the
Delaware General Corporation Law (the “DGCL”), as amended or superseded from time to time, by electronic transmission pursuant
to Section 232 of the DGCL (or any successor thereto) at the electronic mail address set forth below such Investor’s or Key Holder’s
name on the Schedules hereto, as updated from time to time by notice to the Company, or as on the books of the Company. To the extent
that any notice given by means of electronic transmission is returned or undeliverable for any reason, the foregoing consent shall be
deemed to have been revoked until a new or corrected electronic mail address has been provided, and such attempted electronic notice
shall be ineffective and deemed to not have been given. Each Investor and Key Holder agrees to promptly notify the Company of any change
in its electronic mail address, and that failure to do so shall not affect the foregoing.


 


6.6
Entire Agreement. This Agreement (including, the Exhibits and Schedules hereto) together with the other Transaction Agreements
(as defined in the Purchase Agreement) constitutes the full and entire understanding and agreement between the parties with respect to
the subject matter hereof, and any other written or oral agreement relating to the subject matter hereof existing between the parties
are expressly canceled.


 


6.7
Delays or Omissions. No delay or omission to exercise any right, power or remedy accruing to any party under this Agreement, upon
any breach or default of any other party under this Agreement, shall impair any such right, power or remedy of such non-breaching or
non-defaulting party nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in
any similar breach or default thereafter occurring; nor shall any waiver of any single breach or default be deemed a waiver of any other
breach or default theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of
any party of any breach or default under this Agreement, or any waiver on the part of any party of any provisions or conditions of this
Agreement, must be in writing and shall be effective only to the extent specifically set forth in such writing. All remedies, either
under this Agreement or by law or otherwise afforded to any party, shall be cumulative and not alternative.


 






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6.8
Amendment; Waiver and Termination. This Agreement may be amended, modified or terminated (other than pursuant to Section 6.1
above) and the observance of any term hereof may be waived (either generally or in a particular instance and either retroactively
or prospectively) only by a written instrument executed by (a) the Company, (b) the Key Holders holding a majority of the shares of Transfer
Stock then held by all of the Key Holders who are then providing services to the Company as officers, employees or consultants, and (c)
the holders of a majority of the shares of Common Stock issued or issuable upon conversion of the then outstanding shares of Series A
Preferred Stock held by the Investors (voting as a single separate class and on an as-converted basis). Any amendment, modification,
termination or waiver so effected shall be binding upon the Company, the Investors, the Key Holders and all of their respective successors
and permitted assigns whether or not such party, assignee or other shareholder entered into or approved such amendment, modification,
termination or waiver. Notwithstanding the foregoing, (i) this Agreement may not be amended, modified or terminated and the observance
of any term hereunder may not be waived with respect to any Investor or Key Holder without the written consent of such Investor or Key
Holder unless such amendment, modification, termination or waiver applies to all Investors and Key Holders, respectively, in the same
fashion, (ii) this Agreement may not be amended, modified or terminated and the observance of any term hereunder may not be waived with
respect to any Investor without the written consent of such Investor, if such amendment, modification, termination or waiver would adversely
affect the rights of such Investor in a manner disproportionate to any adverse effect such amendment, modification, termination or waiver
would have on the rights of the other Investors under this Agreement, (iii) the consent of the Key Holders shall not be required for
any amendment, modification, termination or waiver if such amendment, modification, termination or waiver does not apply to the Key Holders,
(iv) Schedule A hereto may be amended by the Company from time to time in accordance with the Purchase Agreement to add information
regarding Additional Purchasers (as defined in the Purchase Agreement) without the consent of the other parties hereto, and (v) Schedule
B hereto may be amended by the Company from time to time to add information regarding the issuance of additional shares of Capital
Stock after the date hereof pursuant to Section 6.17 without the written consent of the other parties hereto. The Company shall
give prompt written notice of any amendment, modification or termination hereof or waiver hereunder to any party hereto that did not
consent in writing to such amendment, modification, termination or waiver. No waivers of or exceptions to any term, condition or provision
of this Agreement, in any one (1) or more instances, shall be deemed to be, or construed as, a further or continuing waiver of any such
term, condition or provision.


 


6.9
Assignment of Rights.


 


(a)
The terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors and permitted
assigns of the parties. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto
or their respective successors and permitted assigns any rights, remedies, obligations, or liabilities under or by reason of this Agreement,
except as expressly provided in this Agreement.


 






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(b)
Any successor or permitted assignee of any Key Holder, including any Prospective Transferee who purchases shares of Transfer Stock in
accordance with the terms hereof, shall deliver to the Company and the Investors, as a condition to any transfer or assignment, a counterpart
signature page hereto pursuant to which such successor or permitted assignee shall confirm their agreement to be subject to and bound
by all of the provisions set forth in this Agreement that were applicable to the predecessor or assignor of such successor or permitted
assignee.


 


(c)
The rights of the Investors hereunder are not assignable without the Company’s written consent (which shall not be unreasonably
withheld, delayed or conditioned), except (i) by an Investor to any Affiliate, or (ii) to an assignee or transferee who acquires at least
sixty percent (60%) of the total number of shares of Series A Preferred Stock purchased by an Investor at the Closings (as defined in
the Purchase Agreement), it being acknowledged and agreed that any such assignment, including an assignment contemplated by the preceding
clauses (i) or (ii) shall be subject to and conditioned upon any such assignee’s delivery to the Company and the
other Investors of a counterpart signature page hereto pursuant to which such assignee shall confirm their agreement to be subject to
and bound by all of the provisions set forth in this Agreement that were applicable to the assignor of such assignee.


 


(d)
Except in connection with an assignment by the Company by operation of law to the acquirer of the Company, the rights and obligations
of the Company hereunder may not be assigned under any circumstances.


 


6.10
Severability. The invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability
of any other provision.


 


6.11
Additional Investors. Notwithstanding anything to the contrary contained herein, if the Company issues additional shares of the
Company’s Series A Preferred Stock after the date hereof, if agreed to by the Company, any purchaser of such shares of Series A
Preferred Stock may become a party to this Agreement by executing and delivering an additional counterpart signature page to this Agreement
and thereafter shall be deemed an “Investor” for all purposes hereunder.


 


6.12
Governing Law. This Agreement shall be governed by the internal law of the State of Delaware, without regard to conflict of law
principles that would result in the application of any law other than the law of the State of Delaware.


 


6.13
Titles and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered
in construing or interpreting this Agreement.


 


6.14
Counterparts. This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original, but all
of which together shall constitute one and the same instrument. Counterparts may be delivered via electronic mail (including pdf or any
electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and
any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.


 






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6.15
Aggregation of Stock. All shares of Capital Stock held or acquired by Affiliated entities or persons shall be aggregated together
for the purpose of determining the availability of any rights under this Agreement and such Affiliated persons may apportion such rights
as among themselves in any manner they deem appropriate.


 


6.16
Specific Performance. In addition to any and all other remedies that may be available at law in the event of any breach of this
Agreement, each Investor shall be entitled to specific performance of the agreements and obligations of the Company and the Key Holders
hereunder and to such other injunction or other equitable relief as may be granted by a court of competent jurisdiction.


 


6.17
Additional Key Holders. In the event that (i) after the date of this Agreement but prior to the Second Tranche Closing (as defined
in the Purchase Agreement), the Company issues shares of Common Stock to any employee or consultant, which shares would collectively
constitute with respect to such employee or consultant 3.5% or more of the Company’s then outstanding Common Stock (treating for
this purpose all shares of Common Stock issuable upon exercise of or conversion of outstanding options, warrants or convertible securities,
as if exercised or converted); or (ii) after the date of the Second Tranche Closing, the Company issues shares of Common Stock to any
employee or consultant, which shares would collectively constitute with respect to such employee or consultant 2.5% or more of the Company’s
then outstanding Common Stock (treating for this purpose all shares of Common Stock issuable upon exercise of or conversion of outstanding
options, warrants or convertible securities, as if exercised or converted), the Company shall, as a condition to such issuance, cause
such employee or consultant to execute a counterpart signature page hereto as a Key Holder, and such person shall thereby be bound by,
and subject to, all the terms and provisions of this Agreement applicable to a Key Holder.


 


[Signature
Page Follows]


 




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IN
WITNESS WHEREOF, the parties have executed this Right of First Refusal and Co-Sale Agreement as of the date first written above.


 


	 	COMPANY:
	 	 
	 	AURADINE,
    INC.
	 	 
	 	By:	 
	 	Name:
    	Barun
    Kar
	 	Title:	Chief
    Executive Officer





 






    	 



     


    




 


SERIES
A PREFERRED STOCK PURCHASE AGREEMENT


 


THIS
SERIES A PREFERRED STOCK PURCHASE AGREEMENT (this “Agreement”), is made as of is made as of April ____, 2022, by and
among Auradine, Inc., a Delaware corporation (the “Company”) and the investors listed on Exhibit A attached
to this Agreement (each a “Purchaser” and together the “Purchasers”).


 


The
parties hereby agree as follows:


 


1.
Purchase and Sale of Preferred Stock.


 


1.1
Sale and Issuance of Preferred Stock.


 


(a)
The Company shall have, prior to the Initial Closing (as defined below), authorized the sale and issuance of up to (i) 2,781,863 shares
of the Company’s Series A-1 Preferred Stock, $0.00001 par value per share (the “Series A-1 Preferred Stock”),
(ii) 352,661 shares of the Company’s Series A-2 Preferred Stock, $0.00001 par value per share (the “Series A-2 Preferred
Stock”), (iii) 15,552,400 shares of the Company’s Series A-3 Preferred Stock, $0.00001 par value per share, and (iv)
3,484,200 shares of the Company’s Series A-4 Preferred Stock, $0.00001 par value per share (the “Series A-4 Preferred
Stock,” collectively with the Series A-1 Preferred Stock, the Series A-2 Preferred Stock and the Series A-3 Preferred Stock,
the “Series A Preferred Stock”). The Company shall have adopted and filed with the Secretary of State of the State
of Delaware on or before the Initial Closing the Amended and Restated Certificate of Incorporation in the form of Exhibit B attached
to this Agreement (the “Restated Certificate”), which sets forth the rights, privileges, preferences and restrictions
of such shares of Series A Preferred Stock.


 


(b)
Subject to the terms and conditions of this Agreement, each Purchaser agrees to purchase at the applicable Closing (as defined below)
and the Company agrees to sell and issue to each Purchaser at the applicable Closing that number of shares of Series A Preferred Stock
set forth opposite each Purchaser’s name on Exhibit A, at a purchase price of (i) $1.33902 per share with respect to Series
A-1 Preferred Stock, (ii) $1.41779 per share with respect to Series A-2 Preferred Stock, (iii) $1.57532 per share with respect to Series
A-3 Preferred Stock, or (iv) $12.91544 per share with respect to Series A-4 Preferred Stock. The shares of Series A Preferred Stock issued
to the Purchasers pursuant to this Agreement shall be referred to in this Agreement as the “Shares.”


 


1.2
Closing; Delivery.


 


(a)
The initial purchase and sale of the Shares shall take place electronically via the exchange of documents and signatures, on the date
hereof, or at such other time and place as the Company and the Purchasers mutually agree upon, orally or in writing (which time and place
are designated as the “Initial Closing”). In the event there is more than one closing, the term “Closing”
shall apply to each such closing unless otherwise specified. The Purchasers of Series A-3 Preferred Stock in the Initial Closing are
referred to in this Agreement as the “Initial A-3 Purchasers”.


 




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(b)
At each Closing, the Company shall deliver to each Purchaser a certificate representing the Shares being purchased by such Purchaser
at such Closing against payment of the purchase price therefor by check payable to the Company, by wire transfer to a bank account designated
by the Company, by cancellation or conversion of indebtedness or other convertible securities of the Company to Purchaser, or by any
combination of such methods.


 


(c)
The Company has issued simple agreements for future equity (collectively, the “SAFEs”), which are automatically convertible
into Series A-1 Preferred Stock or Series A-2 Preferred Stock pursuant to the terms set forth therein. The undersigned Purchasers who
hold the SAFEs hereby acknowledge and agree that (i) at the Initial Closing, all issued and outstanding SAFEs will convert into Series
A-1 Preferred Stock or Series A-2 Preferred Stock as set forth on Exhibit A, (ii) notwithstanding anything to the contrary under
any terms of any SAFE, upon such conversion, the Company will be forever released from all of its obligations (including, without limitation,
any pro rata rights, consent rights, information rights and pre-emptive right that a SAFE holder may have) and liabilities under the
SAFEs except for any liability for gross negligence or intentional misconduct leading a Purchaser to not receive the full amount of equity,
free from any encumbrances (except for any encumbrances created by such Purchaser), with respect to the SAFEs, (iii) notwithstanding
anything to the contrary under any terms of any SAFE, after the conversion of the SAFEs, such Purchasers shall only have the rights as
set forth in this Agreement or any other agreement entered into by and between the Company and such SAFE holder on or after the date
of this Agreement, (iv) such Purchasers hereby amend their respective SAFE to remove from such SAFE any pro rata rights, consent rights,
information rights, pre-emptive right and other rights that the Purchasers may have after the conversion of the SAFE, (v) such Purchasers
consent to the transactions contemplated under this Agreement for all purposes and in all respects, and (vi) following such conversion,
such SAFEs are terminated, extinguished and cancelled. Each of the undersigned Purchasers who holds a SAFE hereby waives the right to
receive any cash payment or other consideration in lieu of a fractional share of Series A-1 Preferred Stock or Series A-2 Preferred Stock
that would otherwise be issued upon conversion of such SAFE.


 


1.3
Sale of Additional Shares of Preferred Stock.


 


(a)
After the Initial Closing, the Company may sell, on the same terms and conditions as those contained in this Agreement, any remaining
authorized but unissued shares of Series A-3 Preferred Stock (subject to appropriate adjustment in the event of any stock dividend, stock
split, combination or similar recapitalization affecting such shares) (the “Additional A-3 Shares”), to one (1) or
more purchasers reasonably acceptable to _________, Marathon Digital Holdings, Inc. (“Marathon”),
and (“_______” and collectively with Celesta, the “Lead
Investors”, and such acceptable purchasers, the “Additional A-3 Purchasers” and, together with the Initial
A-3 Purchasers, the “A-3 Purchasers”), provided that (i) such subsequent sale of shares of Series A-3 Preferred
Stock is consummated prior to sixty (60) days after the Initial Closing; and (ii) each Additional A-3 Purchaser becomes a party to the
Transaction Agreements (as defined below) (other than the Management Rights Letter), by executing and delivering a counterpart signature
page to each of the Transaction Agreements. Each closing of the sale of Additional A-3 Shares to Additional A-3 Purchasers, including
the Initial Closing, shall be referred to in this Agreement as a “First Tranche Closing.”


 




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(b)
After the last First Tranche Closing, unless determined by the Company’s Board of Directors, including at least two of the Common
Directors (as defined in the Voting Agreement) and one Preferred Director (as defined in the Voting Agreement), the Company shall sell
to each of the Purchasers, and each of the Purchasers shall purchase from the Company, on the same terms and conditions as those contained
in this Agreement and on the date determined by the Company, that number of Series A-4 Preferred Stock set forth opposite each Purchaser’s
name on Exhibit A (subject to appropriate adjustment in the event of any stock dividend, stock split, combination or similar recapitalization
affecting such shares) (the “Additional A-4 Shares,” collectively with the Additional A-3 Shares, the “Additional
Shares”); provided that (i) such subsequent sale of shares of Series A-4 Preferred Stock shall be consummated
prior to the earlier of October 15, 2022, and within fifteen (15) business days from the date the Company delivers written notice of
the Second Tranche Closing (as defined below); and (ii) the Company cannot update Exhibit A to increase a Purchaser’s allocation
in the Second Tranche Closing (above what is reflected on Exhibit A for the Second Tranche Closing as of the Initial Closing) without
the consent of such Purchaser. Each closing of the sale of Additional A-4 Shares to A-3 Purchasers shall be referred to in this Agreement
as a “Second Tranche Closing.”


 


(c)
Exhibit A to this Agreement shall be updated from time to time to reflect the number of Shares purchased at each Closing and the
parties purchasing Shares at such Closing.


 


1.4
Defined Terms Used in this Agreement. In addition to the terms defined above, the following terms used in this Agreement shall
be construed to have the meanings set forth or referenced below.


 


(a)
“Affiliate” means, with respect to any specified Person, any other Person who, directly or indirectly, controls, is
controlled by, or is under common control with such Person, including, without limitation, any general partner, managing member, officer,
director or trustee of such Person, or any venture capital fund or registered investment company now or hereafter existing that is controlled
by one (1) or more general partners, managing members or investment advisers of, or shares the same management company or investment
adviser with, such Person.


 


(b)
“Code” means the Internal Revenue Code of 1986, as amended.


 


(c)
“Company Intellectual Property” or “Company IP” means all patents, patent applications, registered
and unregistered trademarks, trademark applications, registered and unregistered service marks, service mark applications, tradenames,
copyrights, trade secrets, domain names, mask works, information and proprietary rights and processes, similar or other intellectual
property rights, subject matter of any of the foregoing, tangible embodiments of any of the foregoing, licenses in, to and under any
of the foregoing, and in any and all such cases as are necessary to the Company in the conduct of the Company’s business as now
conducted and as presently proposed to be conducted.


 


(d)
“Indemnification Agreement” means the agreement between the Company and the director designated by any Purchaser entitled
to designate a member of the Board of Directors pursuant to the Voting Agreement, dated as of the date of the Initial Closing, in the
form of Exhibit D attached to this Agreement.


 




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(e)
“Investors’ Rights Agreement” means the agreement among the Company and the Purchasers and certain other stockholders
of the Company dated as of the date of the Initial Closing, in the form of Exhibit E attached to this Agreement.


 


(f)
“Key Employee” means each of Barun Kar, Said Ouissal and Rajiv Khemani.


 


(g)
“Knowledge” including the phrase “to the Company’s knowledge” shall mean the actual knowledge
after reasonable investigation and assuming such knowledge as a Key Employee would have as a result of the reasonable performance of
his or her duties in the ordinary course.


 


(h)
“Management Rights Letter” means the agreement between the Company and a Purchaser, dated as of the date of the Initial
Closing, in the form of Exhibit F attached to this Agreement.


 


(i)
“Material Adverse Effect” means a material adverse effect on the business, assets (including intangible assets), liabilities,
financial condition, property or results of operations of the Company.


 


(j)
“Person” means any individual, corporation, partnership, trust, limited liability company, association or other entity.


 


(k)
“Purchaser” means each of the Purchasers who is initially a party to this Agreement and any additional Purchaser who
becomes a party to this Agreement at a subsequent Closing under Section 1.3.


 


(l)
“Right of First Refusal and Co-Sale Agreement” means the agreement among the Company, the Purchasers, and certain
other stockholders of the Company, dated as of the date of the Initial Closing, in the form of Exhibit G attached to this Agreement.


 


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


 


(n)
“Transaction Agreements” means this Agreement, the Investors’ Rights Agreement, the Management Rights Letter,
the Right of First Refusal and Co-Sale Agreement and the Voting Agreement.


 


(o)
“Voting Agreement” means the agreement among the Company, the Purchasers and certain other stockholders of the Company,
dated as of the date of the Initial Closing, in the form of Exhibit H attached to this Agreement.


 




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2.
Representations and Warranties of the Company.
The Company hereby represents and warrants to each Purchaser that, except as set forth on the Disclosure Schedule attached as Exhibit
C to this Agreement, which exceptions shall be deemed to be part of the representations and warranties made hereunder, the following
representations are true and complete as of the date of the Initial Closing, except as otherwise indicated. The Disclosure Schedule shall
be arranged in sections corresponding to the numbered and lettered sections contained in this Section 2, and the disclosures in
any section of the Disclosure Schedule shall qualify other sections in this Section 2 only to the extent it is readily apparent
from a reading of the disclosure that such disclosure is applicable to such other sections.


 


For
purposes of these representations and warranties (other than those in Sections 2.2, 2.3, 2.4, 2.5, and 2.6),
the term the “Company” shall include any subsidiaries of the Company, unless otherwise noted herein.


 


2.1
Organization, Good Standing, Corporate Power and Qualification. The Company is a corporation duly organized, validly existing
and in good standing under the laws of the State of Delaware and has all requisite corporate power and authority to carry on its business
as now conducted and as presently proposed to be conducted. The Company is duly qualified to transact business and is in good standing
in each jurisdiction in which the failure to so qualify would have a Material Adverse Effect.


 


2.2
Capitalization.


 


(a)
The authorized capital of the Company consists, immediately prior to the Initial Closing, of:


 


(i)
50,123,085 shares of common stock, $0.00001 par value per share (the “Common Stock”), 22,636,361 shares of which are
issued and outstanding immediately prior to the Initial Closing. All of the outstanding shares of Common Stock have been duly authorized,
are fully paid and nonassessable and were issued in compliance with all applicable federal and state securities laws.


 


(ii)
22,171,124 shares of preferred stock, $0.00001 par value per share (the “Preferred Stock”), of which, 2,781,863 shares
have been designated Series A-1 Preferred Stock, none of which are issued and outstanding immediately prior to the Initial Closing, 352,661
shares have been designated Series A-2 Preferred Stock, none of which are issued and outstanding immediately prior to the Initial Closing,
15,552,400 shares have been designated Series A-3 Preferred Stock, none of which are issued and outstanding immediately prior to the
Initial Closing, and 3,484,200 shares have been designated Series A-4 Preferred Stock, none of which are issued and outstanding immediately
prior to the Initial Closing. The rights, privileges and preferences of the Preferred Stock are as stated in the Restated Certificate
and as provided by the General Corporation Law of the State of Delaware, as amended or superseded from time to time (the “DGCL”).


 


(b)
The Company has reserved 2,240,600 shares of Common Stock for issuance to officers, directors, employees and consultants of the Company
pursuant to its 2021 Equity Incentive Plan duly adopted by the Board of Directors and approved by the Company stockholders (as amended
from time to time, the “Stock Plan”). Of such reserved shares of Common Stock, 525,000 shares have been issued pursuant
to restricted stock purchase agreements, no options to purchase shares have been granted and are currently outstanding, and 1,700,000
shares of Common Stock are unallocated, uncommitted, and remain available for issuance to officers, directors, employees and consultants
pursuant to the Stock Plan. The Company has furnished to the Purchasers complete and accurate copies of the Stock Plan and forms of agreements
used thereunder.


 




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(c)
Except for (A) the conversion privileges of the Shares to be issued under this Agreement, (B) the rights provided in Section 4
of the Investors’ Rights Agreement, and (C) the securities and rights described in Sections 2.2(a)(ii) and 2.2(b)
of this Agreement and Section 2.2(c) of the Disclosure Schedule, there are no outstanding options, warrants, rights (including
conversion or preemptive rights and rights of first refusal or similar rights) or agreements, orally or in writing, to purchase or acquire
from the Company any shares of Common Stock or Series A Preferred Stock, or any securities convertible into or exchangeable for shares
of Common Stock or Series A Preferred Stock. All outstanding shares of the Company’s Common Stock and all shares of the Company’s
Common Stock underlying outstanding options are subject to (i) a right of first refusal in favor of the Company upon any proposed transfer
(other than transfers for estate planning purposes); and (ii) a lock-up or market standoff agreement of not less than one hundred eighty
(180) days following the Company’s initial public offering pursuant to a registration statement filed with the Securities and Exchange
Commission under the Securities Act.


 


(d)
None of the Company’s stock purchase agreements or stock option documents contains a provision for acceleration of vesting (or
lapse of a repurchase right) or other changes in the vesting provisions or other terms of such agreement or understanding upon the occurrence
of any event or combination of events, including, without limitation, in the case where the Company’s Stock Plan is not assumed
in an acquisition. The Company has never adjusted or amended the exercise price of any stock options previously awarded, whether through
amendment, cancellation, replacement grant, repricing, or any other means. Except as set forth in the Restated Certificate, the Company
has no obligation (contingent or otherwise) to purchase or redeem any of its capital stock.


 


(e)
The Company has obtained valid waivers of any rights by other parties to purchase any of the Shares covered by this Agreement.


 


2.3
Subsidiaries. The Company does not currently own or control, directly or indirectly, any interest in any other corporation, partnership,
trust, joint venture, limited liability company, association, or other business entity. The Company is not a participant in any joint
venture, partnership or similar arrangement.


 


2.4
Authorization. All corporate action required to be taken by the Company’s Board of Directors and stockholders in order to
authorize the Company to enter into the Transaction Agreements, and to issue the Shares at the Closing and the Common Stock issuable
upon conversion of the Shares, has been taken or will be taken prior to the applicable Closing. All action on the part of the officers
of the Company necessary for the execution and delivery of the Transaction Agreements, the performance of all obligations of the Company
under the Transaction Agreements to be performed as of the Closing, and the issuance and delivery of the Shares has been taken or will
be taken prior to the applicable Closing. The Transaction Agreements, when executed and delivered by the Company, shall constitute valid
and legally binding obligations of the Company, enforceable against the Company in accordance with their respective terms except (i)
as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance, or other laws of general application
relating to or affecting the enforcement of creditors’ rights generally, (ii) as limited by laws relating to the availability of
specific performance, injunctive relief, or other equitable remedies, or (iii) to the extent the indemnification provisions contained
in the Investors’ Rights Agreement and the Indemnification Agreement may be limited by applicable federal or state securities laws.


 




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2.5
Valid Issuance of Shares. The Shares, when issued, sold and delivered in accordance with the terms and for the consideration set
forth in this Agreement, will be validly issued, fully paid and nonassessable and free of restrictions on transfer other than restrictions
on transfer under the Transaction Agreements, applicable state and federal securities laws and liens or encumbrances created by or imposed
by a Purchaser. Assuming the accuracy of the representations of the Purchasers in Section 3 of this Agreement and subject to the
filings described in the Voting Agreement, the Shares will be issued in compliance with all applicable federal and state securities laws.
The Common Stock issuable upon conversion of the Shares has been duly reserved for issuance, and upon issuance in accordance with the
terms of the Restated Certificate, will be validly issued, fully paid and nonassessable and free of restrictions on transfer other than
restrictions on transfer under the Transaction Agreements, applicable federal and state securities laws and liens or encumbrances created
by or imposed by a Purchaser. Assuming the accuracy of the representations of the Purchasers in Section 3 of this Agreement and
in the Voting Agreement, the Common Stock issuable upon conversion of the Shares will be issued in compliance with all applicable federal
and state securities laws.


 


2.6
Governmental Consents and Filings. Assuming the accuracy of the representations made by the Purchasers in Section 3 of
this Agreement, no consent, approval, order or authorization of, or registration, qualification, designation, declaration or filing with,
any federal, state or local governmental authority is required on the part of the Company in connection with the consummation of the
transactions contemplated by this Agreement, except for (i) the filing of the Restated Certificate, which will have been filed as of
the Initial Closing, and (ii) filings pursuant to applicable securities laws, which have been made or will be made in a timely manner.


 


2.7
Litigation. There is no claim, action, suit, proceeding, arbitration, complaint, charge or investigation pending or to the Company’s
knowledge, currently threatened (i) against the Company or any officer, director or Key Employee of the Company arising out of their
employment or board relationship with the Company; (ii) to the Company’s knowledge, that questions the validity of the Transaction
Agreements or the right of the Company to enter into them, or to consummate the transactions contemplated by the Transaction Agreements.;
or (iii) to the Company’s knowledge, that would reasonably be expected to have, either individually or in the aggregate, a Material
Adverse Effect. Neither the Company nor, to the Company’s knowledge, any of its officers, directors or Key Employees is a party
or is named as subject to the provisions of any order, writ, injunction, judgment or decree of any court or government agency or instrumentality
(in the case of officers, directors or Key Employees, such as would affect the Company). There is no action, suit, proceeding or investigation
by the Company pending or which the Company intends to initiate. The foregoing includes, without limitation, actions, suits, proceedings
or investigations pending or threatened in writing (or any basis therefor known to the Company) involving the prior employment of any
of the Company’s employees, their services provided in connection with the Company’s business, any information or techniques
allegedly proprietary to any of their former employers or their obligations under any agreements with prior employers.


 




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2.8
Intellectual Property.


 


(a)
The Company owns or possesses or believes it can acquire on commercially reasonable terms sufficient legal rights to all Company Intellectual
Property without any known conflict with, or infringement of, the rights of others, including prior employees or consultants, or academic
or medical institutions with which any of them may be affiliated now or may have been affiliated in the past. The Company has not received
any communications alleging that the Company has violated, or by conducting its business, would violate any of the patents, trademarks,
service marks, tradenames, copyrights, trade secrets, mask works or other proprietary rights or processes of any other Person.


 


(b)
To the Company’s knowledge, no product or service marketed or sold (or proposed to be marketed or sold) by the Company violates
or will violate any license or infringes or will infringe any intellectual property rights of any other party.


 


(c)
Other than with respect to commercially available software products under standard end-user object code license agreements, there are
no outstanding options, licenses, agreements, claims, encumbrances or shared ownership interests of any kind relating to the Company
Intellectual Property, nor is the Company bound by or a party to any options, licenses or agreements of any kind with respect to the
patents, trademarks, service marks, trade names, copyrights, trade secrets, licenses, information, proprietary rights and processes of
any other Person.


 


(d)
The Company has obtained and possesses valid licenses to use all of the software programs present on the computers and other software-enabled
electronic devices that it owns or leases or that it has otherwise provided to its employees for their use in connection with the Company’s
business.


 


(e)
Each employee and consultant has assigned to the Company all intellectual property rights he or she owns that are related to the Company’s
business as now conducted and as presently proposed to be conducted and all intellectual property rights that he, she or it solely or
jointly conceived, reduced to practice, developed or made during the period of his, her or its employment or consulting relationship
with the Company that (i) relate, at the time of conception, reduction to practice, development, or making of such intellectual property
right, to the Company’s business as then conducted or as then proposed to be conducted, (ii) were developed on any amount of the
Company’s time or with the use of any of the Company’s equipment, supplies, facilities or information or (iii) resulted from
the performance of services for the Company. It will not be necessary to use any inventions of any of its employees or consultants (or
Persons it currently intends to hire) made prior to their employment by the Company, including prior employees or consultants, or academic
or medical institutions with which any of them may be affiliated now or may have been affiliated in the past.


 




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(f)
Section 2.8(f) of the Disclosure Schedule lists all patents, patent applications, registered trademarks, trademark applications,
service marks, service mark applications, tradenames, registered copyrights, and licenses to and under any of the foregoing, in each
case owned by the Company.


 


(g)
The Company has not embedded, used or distributed any open source, copyleft or community source code (including but not limited to any
libraries or code, software, technologies or other materials that are licensed or distributed under any General Public License, Lesser
General Public License or similar license arrangement or other distribution model described by the Open Source Initiative at www.opensource.org,
collectively “Open Source Software”) in connection with any of its products or services that are generally available
or in development in any manner that would materially restrict the ability of the Company to protect its proprietary interests in any
such product or service or in any manner that requires, or purports to require (i) any Company IP (other than the Open Source Software
itself) be disclosed or distributed in source code form or be licensed for the purpose of making derivative works; (ii) any restriction
on the consideration to be charged for the distribution of any Company IP; (iii) the creation of any obligation for the Company with
respect to Company IP owned by the Company, or the grant to any third party of any rights or immunities under Company IP owned by the
Company; or (iv) any other limitation, restriction or condition on the right of the Company with respect to its use or distribution of
any Company IP.


 


(h)
No government funding, facilities of a university, college, other educational institution or research center, or funding from third parties
was used in the development of any Company Intellectual Property. No Person who was involved in, or who contributed to, the creation
or development of any Company Intellectual Property, has performed services for the government, university, college, or other educational
institution or research center in a manner that would affect Company’s rights in the Company Intellectual Property.


 


2.9
Compliance with Other Instruments. The Company is not in violation or default (i) of any provisions of its Restated Certificate
or Bylaws, (ii) of any instrument, judgment, order, writ or decree, (iii) under any note, indenture or mortgage, or (iv) under any lease,
agreement, contract or purchase order to which it is a party or by which it is bound that is required to be listed on the Disclosure
Schedule, or (v) to its knowledge, of any provision of federal or state statute, rule or regulation applicable to the Company, the violation
of which would have a Material Adverse Effect. The execution, delivery and performance of the Transaction Agreements and the consummation
of the transactions contemplated by the Transaction Agreements will not result in any such violation or be in conflict with or constitute,
with or without the passage of time and giving of notice, either (i) a default under any such provision, instrument, judgment, order,
writ, decree, contract or agreement; or (ii) an event which results in the creation of any lien, charge or encumbrance upon any assets
of the Company or the suspension, revocation, forfeiture, or nonrenewal of any material permit or license applicable to the Company.


 




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2.10
Agreements; Actions.


 


(a)
Except for the Transaction Agreements, there are no agreements, understandings, instruments, contracts or proposed transactions to which
the Company is a party or by which it is bound that involve (i) obligations (contingent or otherwise) of, or payments to, the Company
in excess of $150,000, (ii) the license of any patent, copyright, trademark, trade secret or other proprietary right to or from the Company,
(iii) the grant of rights to manufacture, produce, assemble, license, market, or sell its products to any other Person that limit the
Company’s exclusive right to develop, manufacture, assemble, distribute, market or sell its products, or (iv) indemnification by
the Company with respect to infringements of proprietary rights.


 


(b)
The Company has not (i) declared or paid any dividends, or authorized or made any distribution upon or with respect to any class or series
of its capital stock, (ii) incurred any indebtedness for money borrowed or incurred any other liabilities individually in excess of $150,000
or in excess of $500,000 in the aggregate, (iii) made any loans or advances to any Person, other than ordinary advances for business
expenses, or (iv) sold, exchanged or otherwise disposed of any of its assets or rights, other than in the ordinary course of business.
For the purposes of (a) and (b) of this Section 2.10, all indebtedness, liabilities, agreements, understandings, instruments,
contracts and proposed transactions involving the same Person (including Persons the Company has reason to believe are affiliated with
each other) shall be aggregated for the purpose of meeting the individual minimum dollar amounts of such section.


 


(c)
The Company is not a guarantor or indemnitor of any indebtedness of any other Person.


 


2.11
Certain Transactions.


 


(a)
Other than (i) standard employee benefits generally made available to all employees, standard employee offer letters and Confidential
Information Agreements (as defined below), (ii) standard director and officer indemnification agreements approved by the Board of Directors,
(iii) the purchase of shares of the Company’s capital stock and the issuance of options to purchase shares of the Company’s
Common Stock, in each instance, approved in the written minutes of the Board of Directors (previously provided to the Purchasers or their
respective counsel), and (iv) the Transaction Agreements, there are no agreements, understandings or proposed transactions between the
Company and any of its officers, directors, consultants or Key Employees, or any Affiliate thereof.


 


(b)
The Company is not indebted, directly or indirectly, to any of its directors, officers or employees or to their respective spouses or
children or to any Affiliate of any of the foregoing, other than in connection with expenses or advances of expenses incurred in the
ordinary course of business or employee relocation expenses and for other customary employee benefits made generally available to all
employees. None of the Company’s directors, officers or employees, or any members of their immediate families, or any Affiliate
of the foregoing are, directly or indirectly, indebted to the Company or, to the Company’s knowledge, have any (i) material commercial,
industrial, banking, consulting, legal, accounting, charitable or familial relationship with any of the Company’s customers, suppliers,
service providers, joint venture partners, licensees and competitors, (ii) direct or indirect ownership interest in any firm or corporation
with which the Company is affiliated or with which the Company has a business relationship, or any firm or corporation which competes
with the Company except that directors, officers, employees or stockholders of the Company may own stock in (but not exceeding two percent
(2%) of the outstanding capital stock of) publicly traded companies that may compete with the Company; or (iii) financial interest in
any material contract with the Company.


 




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2.12
Rights of Registration and Voting Rights. Except as provided in the Investors’ Rights Agreement, the Company is not under
any obligation to register under the Securities Act any of its currently outstanding securities or any securities issuable upon exercise
or conversion of its currently outstanding securities. To the Company’s knowledge, except as contemplated in the Voting Agreement,
no stockholder of the Company has entered into any agreements with respect to the voting of capital shares of the Company.


 


2.13
Property. The property and assets that the Company owns are free and clear of all mortgages, deeds of trust, liens, loans and
encumbrances, except for statutory liens for the payment of current taxes that are not yet delinquent and encumbrances and liens that
arise in the ordinary course of business and do not materially impair the Company’s ownership or use of such property or assets.
With respect to the property and assets it leases, the Company is in compliance with such leases and holds a valid leasehold interest
free of any liens, claims or encumbrances other than those of the lessors of such property or assets. The Company does not own any real
property.


 


2.14
Material Liabilities. The Company has no liability or obligation, absolute or contingent (individually or in the aggregate), except
(i) obligations and liabilities incurred after the date of incorporation in the ordinary course of business that are not material, individually
or in the aggregate, and (ii) obligations under contracts made in the ordinary course of business that would not be required to be reflected
in financial statements prepared in accordance with generally accepted accounting principles.


 


2.15
Changes. To the Company’s knowledge, since October 28, 2021 through the date of this Agreement, there have been no events
or circumstances of any kind that have had or could reasonably be expected to result in a Material Adverse Effect.


 


2.16
Employee Matters.


 


(a)
To the Company’s knowledge, none of its employees is obligated under any contract (including licenses, covenants or commitments
of any nature) or other agreement, or subject to any judgment, decree or order of any court or administrative agency, that would materially
interfere with such employee’s ability to promote the interest of the Company or that would conflict with the Company’s business.
Neither the execution or delivery of the Transaction Agreements, nor the carrying on of the Company’s business by the employees
of the Company, nor the conduct of the Company’s business as now conducted and as presently proposed to be conducted, will, to
the Company’s knowledge, conflict with or result in a breach of the terms, conditions, or provisions of, or constitute a default
under, any contract, covenant or instrument under which any such employee is now obligated.


 




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(b)
The Company is not delinquent in payments to any of its employees, consultants, or independent contractors for any wages, salaries, commissions,
bonuses, or other direct compensation for any service performed for it to the date hereof or amounts required to be reimbursed to such
employees, consultants or independent contractors. The Company has complied in all material respects with all applicable state and federal
equal employment opportunity laws and with other laws related to employment, including those related to wages, hours, worker classification
and collective bargaining. The Company has withheld and paid to the appropriate governmental entity or is holding for payment not yet
due to such governmental entity all amounts required to be withheld from employees of the Company and is not liable for any arrears of
wages, taxes, penalties or other sums for failure to comply with any of the foregoing.


 


(c)
To the Company’s knowledge, no Key Employee intends to terminate employment with the Company or is otherwise likely to become unavailable
to continue as a Key Employee. The Company does not have a present intention to terminate the employment of any of the foregoing. The
employment of each employee of the Company is terminable at the will of the Company. Except as set forth in Section 2.16(c)(i)
of the Disclosure Schedule or as required by law, upon termination of the employment of any such employees, no severance or other payments
will become due. Except as set forth in Section 2.16(c)(ii) of the Disclosure Schedule, the Company has no policy, practice, plan
or program of paying severance pay or any form of severance compensation in connection with the termination of employment services.


 


(d)
The Company has not made any representations regarding equity incentives to any officer, employee, director or consultant that are inconsistent
with the share amounts and terms set forth in the minutes of meetings of (or actions taken by unanimous written consent by) the Company’s
Board of Directors.


 


(e)
Each former Key Employee whose employment was terminated by the Company has entered into an agreement with the Company providing for
the full release of any claims against the Company or any related party arising out of such employment.


 


(f)
Section 2.16(f) of the Disclosure Schedule sets forth each employee benefit plan maintained, established or sponsored by the Company,
or which the Company participates in or contributes to, which is subject to the Employee Retirement Income Security Act of 1974, as amended
(“ERISA”). The Company has made all required contributions and has no liability to any such employee benefit plan,
other than liability for health plan continuation coverage described in Part 6 of Title I(B) of ERISA, and has complied in all material
respects with all applicable laws for any such employee benefit plan.


 


2.17
Tax Returns and Payments. There are no federal, state, county, local or foreign taxes due and payable by the Company which have
not been timely paid. There are no accrued and unpaid federal, state, country, local or foreign taxes of the Company which are due, whether
or not assessed or disputed. There have been no examinations or audits of any tax returns or reports by any applicable federal, state,
local or foreign governmental agency. The Company has duly and timely filed all federal, state, county, local and foreign tax returns
required to have been filed by it and there are in effect no waivers of applicable statutes of limitations with respect to taxes for
any year.


 


2.18
Insurance. The Company has in full force and effect insurance policies concerning such casualties as would be reasonable and customary
for companies like the Company, with extended coverage, sufficient in amount (subject to reasonable deductions) to allow it to replace
any of its properties that might be damaged or destroyed.


 




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2.19
Employee Agreements. Each current and former employee, consultant and officer of the Company has executed an agreement with the
Company regarding confidentiality and proprietary information substantially in the form or forms delivered to the Purchasers or their
respective counsel (the “Confidential Information Agreements”). No current or former Key Employee has excluded works
or inventions from his or her assignment of inventions pursuant to such Key Employee’s Confidential Information Agreement. Each
current and former Key Employee has executed a non-solicitation agreement substantially in the form or forms delivered to the Purchasers
or their respective counsel. The Company is not aware that any of its Key Employees is in violation of any agreement described in this
Section 2.19.


 


2.20
Permits. The Company has all franchises, permits, licenses and any similar authority necessary for the conduct of its business,
the lack of which could reasonably be expected to have a Material Adverse Effect. The Company is not in default in any material respect
under any of such franchises, permits, licenses or other similar authority.


 


2.21
Corporate Documents. The Certificate of Incorporation and Bylaws of the Company as of the date of this Agreement are in the form
provided to the Purchasers. The copy of the minute books of the Company provided to the Purchasers contains minutes of all meetings of
directors and stockholders and all actions by written consent without a meeting by the directors and stockholders since the date of incorporation
and accurately reflects in all material respects all actions by the directors (and any committee of directors) and stockholders.


 


2.22
83(b) Elections. To the Company’s knowledge, all elections and notices under Section 83(b) of the Code have been or will
be timely filed by all individuals who have acquired unvested shares of the Company’s Common Stock.


 


2.23
Environmental and Safety Laws. Except, to the Company’s knowledge, as could not reasonably be expected to have a Material
Adverse Effect (a) the Company is and has been in compliance with all Environmental Laws; (b) there has been no release or threatened
release of any pollutant, contaminant or toxic or hazardous material, substance or waste or petroleum or any fraction thereof (each a
“Hazardous Substance”), on, upon, into or from any site currently or heretofore owned, leased or otherwise used by
the Company; (c) there have been no Hazardous Substances generated by the Company that have been disposed of or come to rest at any site
that has been included in any published U.S. federal, state or local “superfund” site list or any other similar list of hazardous
or toxic waste sites published by any governmental authority in the United States; and (d) there are no underground storage tanks located
on, no polychlorinated biphenyls (“PCBs”) or PCB-containing equipment used or stored on, and no hazardous waste as
defined by the Resource Conservation and Recovery Act, as amended, stored on, any site owned or operated by the Company, except for the
storage of hazardous waste in compliance with Environmental Laws. The Company has made available to the Purchasers true and complete
copies of all material environmental records, reports, notifications, certificates of need, permits, pending permit applications, correspondence,
engineering studies and environmental studies or assessments.


 


For
purposes of this Section 2.23, “Environmental Laws” means any law, regulation, or other applicable requirement
relating to (a) releases or threatened release of Hazardous Substance; (b) pollution or protection of employee health or safety, public
health or the environment; or (c) the manufacture, handling, transport, use, treatment, storage, or disposal of Hazardous Substances.


 




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2.24
Qualified Small Business Stock. As of and immediately following the Closing: (i) the Company will be an eligible corporation as
defined in Section 1202(e)(4) of the Code, (ii) the Company will not have made purchases of its own stock described in Code Section 1202(c)(3)(B)
during the one (1) year period preceding the Initial Closing, except for purchases that are disregarded for such purposes under Treasury
Regulation Section 1.1202-2, (iii) the Company’s aggregate gross assets, as defined by Code Section 1202(d)(2), at no time between
its incorporation and through the Initial Closing have exceeded $50 million, taking into account the assets of any corporations required
to be aggregated with the Company in accordance with Code Section 1202(d)(3), and (iv) the Shares will meet each of the requirements
for qualification as “qualified small business stock” within the meaning of Sections 1202 and 1045 of the Code; provided,
however, that in no event shall the Company be liable to the Purchasers or any other party for any damages arising from any subsequently
proven or identified error in the Company’s determination with respect to the applicability or interpretation of Code Section 1202,
unless such determination shall have been given by the Company in a manner either grossly negligent or fraudulent.


 


2.25
Foreign Corrupt Practices Act. Neither the Company nor any of its directors, officers, employees or agents have, directly or indirectly,
made, offered, promised or authorized any payment or gift of any money or anything of value to or for the benefit of any “foreign
official” (as such term is defined in the U.S. Foreign Corrupt Practices Act of 1977, as amended (the “FCPA”)),
foreign political party or official thereof or candidate for foreign political office for the purpose of (i) influencing any official
act or decision of such official, party or candidate, (ii) inducing such official, party or candidate to use his, her or its influence
to affect any act or decision of a foreign governmental authority, or (iii) securing any improper advantage, in the case of (i), (ii)
and (iii) above in order to assist the Company or any of its affiliates in obtaining or retaining business for or with, or directing
business to, any person. Neither the Company nor any of its directors, officers, employees or agents have made or authorized any bribe,
rebate, payoff, influence payment, kickback or other unlawful payment of funds or received or retained any funds in violation of any
law, rule or regulation. Neither the Company nor, to the Company’s knowledge, any of its officers, directors or employees are the
subject of any allegation, voluntary disclosure, investigation, prosecution or other enforcement action related to the FCPA or any other
anti-corruption law.


 


2.26
Export Control Laws. The Company has conducted all export transactions in accordance with applicable provisions of United States
export control laws and regulations, including the Export Administration Regulations, the International Traffic in Arms Regulations,
the regulations administered by the Office of Foreign Assets Control of the U.S. Treasury Department, and the export control laws and
regulations of any other applicable jurisdiction. Without limiting the foregoing: (a) the Company has obtained all export licenses and
other approvals, timely filed all required filings and has assigned the appropriate export classifications to all products, in each case
as required for its exports of products, software and technologies from the United States and any other applicable jurisdiction; (b)
the Company is in compliance with the terms of all applicable export licenses, classifications, filing requirements or other approvals;
(c) there are no pending or, to the Company’s knowledge, threatened claims against the Company with respect to such exports, classifications,
required filings or other approvals; (d) there are no pending investigations related to the Company’s exports; and (e) there are
no actions, conditions, or circumstances pertaining to the Company’s export transactions that would reasonably be expected to give
rise to any material future claims.


 




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2.27
CFIUS Representations. The Company does not engage in (a) the design, fabrication, development, testing, production or manufacture
of one (1) or more “critical technologies” within the meaning of the Defense Production Act of 1950, as amended, including
all implementing regulations thereof (the “DPA”); (b) the ownership, operation, maintenance, supply, manufacture,
or servicing of “covered investment critical infrastructure” within the meaning of the DPA (where such activities are covered
by column 2 of Appendix A to 31 C.F.R. Part 800); or (c) the maintenance or collection, directly or indirectly, of “sensitive personal
data” of U.S. citizens within the meaning of the DPA. The Company has no current intention of engaging in such activities in the
future.


 


2.28
Disclosure. The Company has made available to the Purchasers all the information reasonably available to the Company that the
Purchasers have requested for deciding whether to acquire the Shares. No representation or warranty of the Company contained in this
Agreement, as qualified by the Disclosure Schedule, and no certificate furnished or to be furnished to Purchasers at the Closing contains
any untrue statement of a material fact or, to the Company’s knowledge, omits to state a material fact necessary in order to make
the statements contained herein or therein not misleading in light of the circumstances under which they were made. It is understood
that this representation is qualified by the fact that the Company has not delivered to the Purchasers, and has not been requested to
deliver, a private placement or similar memorandum or any written disclosure of the types of information customarily furnished to purchasers
of securities.


 


3.
Representations and Warranties of the Purchasers.
Each Purchaser hereby represents and warrants to the Company, severally and not jointly, that:


 


3.1
Authorization. The Purchaser has full power and authority to enter into the Transaction Agreements. The Transaction Agreements
to which the Purchaser is a party, when executed and delivered by the Purchaser, will constitute valid and legally binding obligations
of the Purchaser, enforceable against such Purchaser in accordance with their terms, except (a) as limited by applicable bankruptcy,
insolvency, reorganization, moratorium, fraudulent conveyance and any other laws of general application affecting enforcement of creditors’
rights generally, and as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies,
or (b) to the extent the indemnification provisions contained in the Investors’ Rights Agreement may be limited by applicable federal
or state securities laws.


 


3.2
Purchase Entirely for Own Account. This Agreement is made with the Purchaser in reliance upon the Purchaser’s representation
to the Company, which by the Purchaser’s execution of this Agreement, the Purchaser hereby confirms, that the Shares to be acquired
by the Purchaser will be acquired for investment for the Purchaser’s own account, not as a nominee or agent, and not with a view
to the resale or distribution of any part thereof, and that the Purchaser has no present intention of selling, granting any participation
in, or otherwise distributing the same. By executing this Agreement, the Purchaser further represents that the Purchaser does not presently
have any contract, undertaking, agreement or arrangement with any Person to sell, transfer or grant participations to such Person or
to any third Person, with respect to any of the Shares. The Purchaser has not been formed for the specific purpose of acquiring the Shares.


 




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3.3
Disclosure of Information. The Purchaser has had an opportunity to discuss the Company’s business, management, financial
affairs and the terms and conditions of the offering of the Shares with the Company’s management and has had an opportunity to
review the Company’s facilities. The foregoing, however, does not limit or modify the representations and warranties of the Company
in Section 2 of this Agreement or the right of the Purchasers to rely thereon.


 


3.4
Restricted Securities. The Purchaser understands that the Shares have not been, and will not be, registered under the Securities
Act, by reason of a specific exemption from the registration provisions of the Securities Act which depends upon, among other things,
the bona fide nature of the investment intent and the accuracy of the Purchaser’s representations as expressed herein. The Purchaser
understands that the Shares are “restricted securities” under applicable U.S. federal and state securities laws and that,
pursuant to these laws, the Purchaser must hold the Shares indefinitely unless they are registered with the Securities and Exchange Commission
and qualified by state authorities, or an exemption from such registration and qualification requirements is available. The Purchaser
acknowledges that the Company has no obligation to register or qualify the Shares, or the Common Stock into which it may be converted,
for resale except as set forth in the Investors’ Rights Agreement. The Purchaser further acknowledges that if an exemption from
registration or qualification is available, it may be conditioned on various requirements including, but not limited to, the time and
manner of sale, the holding period for the Shares, and on requirements relating to the Company which are outside of the Purchaser’s
control, and which the Company is under no obligation and may not be able to satisfy.


 


3.5
No Public Market. The Purchaser understands that no public market now exists for the Shares, and that the Company has made no
assurances that a public market will ever exist for the Shares.


 


3.6
Legends. The Purchaser understands that the Shares and any securities issued in respect of or exchange for the Shares, may be
notated with one or all of the following legends:


 


“THE
SHARES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AND HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH
A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH TRANSFER MAY BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION
STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL IN A FORM SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER
THE SECURITIES ACT OF 1933.”


 


(a)
Any legend set forth in, or required by, the other Transaction Agreements.


 




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(b)
Any legend required by the securities laws of any state to the extent such laws are applicable to the Shares represented by the certificate,
instrument, or book entry so legended.


 


No
Purchaser shall be required to include any additional legend not set forth or required by any Transaction Agreements for its Shares or
stock certificates unless otherwise required by applicable laws as pursuant to clause (b) above.


 


3.7
Accredited Investor. The Purchaser is an accredited investor as defined in Rule 501(a) of Regulation D promulgated under the Securities
Act.


 


3.8
Foreign Investors. If the Purchaser is not a United States person (as defined by Section 7701(a)(30) of the Code), the Purchaser
hereby represents that it has satisfied itself as to the full observance of the laws of its jurisdiction in connection with any invitation
to subscribe for the Shares or any use of this Agreement, including (i) the legal requirements within its jurisdiction for the purchase
of the Shares, (ii) any foreign exchange restrictions applicable to such purchase, (iii) any governmental or other consents that may
need to be obtained, and (iv) the income tax and other tax consequences, if any, that may be relevant to the purchase, holding, redemption,
sale, or transfer of the Shares. The Purchaser’s subscription and payment for and continued beneficial ownership of the Shares
will not violate any applicable securities or other laws of the Purchaser’s jurisdiction.


 


3.9
CFIUS Foreign Person Status. The Purchaser is not a “foreign person” or a “foreign entity,” as defined
in Section 721 of the DPA. The Purchaser is not controlled by a “foreign person,” as defined in the DPA. The Purchaser does
not permit any foreign person affiliated with the Purchaser, whether affiliated as a limited partner or otherwise, to obtain through
the Purchaser any of the following with respect to the Company: (i) access to any “material nonpublic technical information”
(as defined in the DPA) in the possession of the Company; (ii) membership or observer rights on the Board of Directors or equivalent
governing body of the Company or the right to nominate an individual to a position on the Board of Directors or equivalent governing
body of the Company; (iii) any involvement, other than through the voting of shares, in the substantive decision-making of the Company
regarding (x) the use, development, acquisition, or release of any “critical technology” (as defined in the DPA), (y) the
use, development, acquisition, safekeeping, or release of “sensitive personal data” (as defined in the DPA) of U.S. citizens
maintained or collected by the Company, or (z) the management, operation, manufacture, or supply of “covered investment critical
infrastructure” (as defined in the DPA); or (iv) “control” of the Company (as defined in the DPA).


 


3.10
No General Solicitation. Neither the Purchaser, nor any of its officers, directors, employees, agents, stockholders or partners
has either directly or indirectly, including, through a broker or finder (a) engaged in any general solicitation, or (b) published any
advertisement in connection with the offer and sale of the Shares.


 




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3.11
Exculpation Among Purchasers. The Purchaser acknowledges that it is not relying upon any Person, other than the Company and its
officers and directors, in making its investment or decision to invest in the Company. The Purchaser agrees that neither any Purchaser
nor the respective controlling Persons, officers, directors, partners, agents, or employees of any Purchaser shall be liable to any other
Purchaser for any action heretofore taken or omitted to be taken by any of them in connection with the purchase of the Shares.


 


3.12
Residence. If the Purchaser is an individual, then the Purchaser resides in the state or province identified in the address of
the Purchaser set forth on Exhibit A; if the Purchaser is a partnership, corporation, limited liability company or other entity,
then the office or offices of the Purchaser in which its principal place of business is identified in the address or addresses of the
Purchaser set forth on Exhibit A.


 


3.13
Consent to Promissory Note/SAFE Conversion and Termination. Each Purchaser, to the extent that such Purchaser, as set forth on
the Schedule of Purchasers, is a holder of any promissory note or SAFE of the Company being converted and/or cancelled in consideration
of the issuance hereunder of Shares to such Purchaser, hereby agrees that the entire amount owed to such Purchaser under such note or
evidenced by such SAFE, as the case may be, is being tendered to the Company in exchange for the applicable Shares set forth on the Schedule
of Purchasers, and effective upon the Company’s and such Purchaser’s execution and delivery of this Agreement, without any
further action required by the Company or such Purchaser, such note or SAFE, as the case may be, and all obligations set forth therein
shall be immediately deemed satisfied in full and terminated in their entirety, including, but not limited to, any security interest
effected therein.


 


3.14
Investment Decision. Each Purchaser acknowledges and agrees that its investment decision to purchase the Series A-4 Preferred
Stock pursuant to this Agreement is being made as of the date of this Agreement and based and in reliance on the terms of this Agreement,
including the Post Closing Covenants set forth below, and the Transaction Agreements.


 


4.
Representations and Warranties of Marathon. Marathon
hereby represents and warrants to the Company that it has complied with any and all applicable conflict of interest policies and requirements
for its acquisition and purchase of Shares pursuant to the terms of this Agreement.


 


5.
Conditions to the
Purchasers’ Obligations at Initial Closing. The obligations of each Purchaser to purchase Shares at the Initial Closing are
subject to the fulfillment, on or before such Initial Closing, of each of the following conditions, unless otherwise waived:


 


5.1
Representations and Warranties. The representations and warranties of the Company contained in Section 2 shall be true
and correct in all respects as of the Initial Closing.


 


5.2
Performance. The Company shall have performed and complied with all covenants, agreements, obligations and conditions contained
in this Agreement that are required to be performed or complied with by the Company on or before the Initial Closing.


 




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5.3
Compliance Certificate. The Chief Executive Officer of the Company shall deliver to the Purchasers at the Initial Closing a certificate
certifying that the conditions specified in Sections 5.1 and 5.2 have been fulfilled.


 


5.4
Qualifications. All authorizations, approvals or permits, if any, of any governmental authority or regulatory body of the United
States or of any state that are required in connection with the lawful issuance and sale of the Shares pursuant to this Agreement shall
be obtained and effective as of such Closing.


 


5.5
Opinion of Company Counsel. The Purchasers shall have received from Paul Hastings LLP, counsel for the Company, an opinion, dated
as of the Initial Closing, in substantially the form of Exhibit I attached to this Agreement.


 


5.6
Board of Directors. As of the Initial Closing, the authorized size of the Company’s Board of Directors shall be six, and
the Board shall be comprised of Barun Kar, Said Ouissal, Rajiv Khemani, Fred Thiel, Sriram Viswanathan, and Navin Chaddha.


 


5.7
Indemnification Agreement. The Company shall have executed and delivered the Indemnification Agreements.


 


5.8
Investors’ Rights Agreement. The Company and each Purchaser (other than the Purchaser relying upon this condition to excuse
such Purchaser’s performance hereunder) and the other stockholders of the Company named as parties thereto shall have executed
and delivered the Investors’ Rights Agreement.


 


5.9
Right of First Refusal and Co-Sale Agreement. The Company, each Purchaser (other than the Purchaser relying upon this condition
to excuse such Purchaser’s performance hereunder), and the other stockholders of the Company named as parties thereto shall have
executed and delivered the Right of First Refusal and Co-Sale Agreement.


 


5.10
Voting Agreement. The Company, each Purchaser (other than the Purchaser relying upon this condition to excuse such Purchaser’s
performance hereunder), and the other stockholders of the Company named as parties thereto shall have executed and delivered the Voting
Agreement.


 


5.11
Restated Certificate. The Company shall have filed the Restated Certificate with the Secretary of State of Delaware on or prior
to the Initial Closing, which shall continue to be in full force and effect as of such Closing.


 


5.12
Secretary’s Certificate. The Secretary of the Company shall have delivered to the Purchasers at the Initial Closing a certificate
certifying (i) the Certificate of Incorporation and Bylaws of the Company as in effect at the Closing, (ii) resolutions of the Board
of Directors of the Company approving the Transaction Agreements and the transactions contemplated under the Transaction Agreements,
and (iii) resolutions of the stockholders of the Company approving the Restated Certificate.


 




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5.13
Proceedings and Documents. All corporate and other proceedings in connection with the transactions contemplated at such Initial
Closing and all documents incident thereto shall be reasonably satisfactory in form and substance to each Purchaser, and each Purchaser
(or its respective counsel) shall have received all such counterpart original and certified or other copies of such documents as reasonably
requested. Such documents may include good standing certificates.


 


5.14
Management Rights. A Management Rights Letter shall have been executed by the Company and delivered to each Purchaser to whom
it is addressed.


 


6.
Conditions of the Company’s Obligations at
Closing. The obligations of the Company to sell Shares to the Purchasers at the Initial Closing or any subsequent Closing are subject
to the fulfillment, on or before such Closing, of each of the following conditions, unless otherwise waived:


 


6.1
Representations and Warranties. The representations and warranties of each Purchaser contained in Section 3 (and solely
with respect to Marathon, the representations and warranties contained in Section 4) shall be true and correct in all respects
as of such Closing.


 


6.2
Performance. The Purchasers shall have performed and complied with all covenants, agreements, obligations and conditions contained
in this Agreement that are required to be performed or complied with by them on or before such Closing.


 


6.3
Qualifications. All authorizations, approvals or permits, if any, of any governmental authority or regulatory body of the United
States or of any state that are required in connection with the lawful issuance and sale of the Shares pursuant to this Agreement shall
be obtained and effective as of the Closing.


 


6.4
Investors’ Rights Agreement. Each Purchaser shall have executed and delivered the Investors’ Rights Agreement.


 


6.5
Right of First Refusal and Co-Sale Agreement. Each Purchaser and the other stockholders of the Company named as parties thereto
shall have executed and delivered the Right of First Refusal and Co-Sale Agreement.


 


6.6
Voting Agreement. Each Purchaser and the other stockholders of the Company named as parties thereto shall have executed and delivered
the Voting Agreement.


 


7.
Post-Closing Covenants.


 


7.1
Appointment of Chief Executive Officer. The Company’s Board of Directors shall appoint Rajiv Khemani as the Company’s
Chief Executive Officer no later than January 30, 2023, and the Company shall use best efforts to facilitate such appointment and management
transition.


 




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7.2
Conflict of Interest Matters. Within ninety (90) days after the Initial Closing, the Company shall adopt a conflict of interest
policy which, at a minimum, will require the Company’s directors, officers and Key Employees to disclose outside roles and interests
that potentially conflict with the Company’s business relationships. In addition, such policy will require that (i) for so long
as Said Ouissal is a member of the Company’s Board of Directors, Mr. Ouissal will recuse himself from all matters related to the
Company’s business dealings with Marathon, and (ii) upon the issuance of material purchase orders by Marathon for the Company’s
products following a successful tape-out for such products, the Preferred Directors (as defined in the Restated Certificate) and the
Chief Executive Officer of the Company will evaluate Mr. Ouissal’s continued service on the Board of Directors and, in consultation
with legal counsel, will revise such policy and/or adopt further procedures to ensure the continued avoidance and/or management of conflicts
of interest, including from any overlapping directorships.


 


7.3
Public Relations. The Company shall adopt and implement a marketing and public relations plan, including the announcement of the
consummation of the purchase of Shares and related transactions contemplated in this Agreement, subject to approval by the Board of Directors
of the Company, including at least one Preferred Director (as defined in the Restated Certificate).


 


7.4
Redemption. In the event a Purchaser fails to purchase all of the Additional A-4 Shares that such Purchaser is required to purchase
pursuant to Section 1.3(b) of this Agreement by the deadline set forth in such Section 1.3(b), the Company shall have the option, exercisable
in the Company’s sole discretion at any time prior to the date that is 180 days after the Second Tranche Closing, to repurchase
all of the Shares held by such Purchaser for an aggregate purchase price of $1.00 (each, a “Redemption Right”). Each
Purchaser hereby constitutes and appoints as the proxies of the party and hereby grants a power of attorney to each Common Director (as
defined in the Voting Agreement), and each of them, with full power of substitution, to execute a Stock Assignment Separate from Certificate
on behalf of such Purchaser to effect any such Redemption Right. Each of the proxy and power of attorney granted pursuant to this Section
7.4 is given in consideration of the agreements and covenants of the Company and the parties in connection with the transactions
contemplated by this Agreement and, as such, each is coupled with an interest and shall be irrevocable unless and until this Agreement
terminates. Each Purchaser hereby revokes any and all previous proxies or powers of attorney with respect to the Shares (except as set
forth in the Voting Agreement) and shall not hereafter, unless and until this Agreement terminates, purport to grant any other proxy
or power of attorney with respect to any of the Shares, deposit any of the Shares into a voting trust or enter into any agreement (other
than this Agreement and the Voting Agreement), arrangement or understanding with any person, directly or indirectly, to vote, grant any
proxy or give instructions with respect to the voting of any of the Shares, in each case, with respect to the Redemption Right.


 


8.
Miscellaneous.


 


8.1
Survival of Warranties. Unless otherwise set forth in this Agreement, the representations and warranties of the Company and the
Purchasers contained in or made pursuant to this Agreement shall survive the execution and delivery of this Agreement and each Closing
and shall in no way be affected by any investigation or knowledge of the subject matter thereof made by or on behalf of the Purchasers
or the Company.


 




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8.2
Successors and Assigns. The terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective
successors and assigns of the parties. Nothing in this Agreement, express or implied, is intended to confer upon any party other than
the parties hereto or their respective successors and assigns any rights, remedies, obligations or liabilities under or by reason of
this Agreement, except as expressly provided in this Agreement.


 


8.3
Governing Law. This Agreement shall be governed by the internal law of the State of Delaware, without regard to conflict of law
principles that would result in the application of any law other than the law of the State of Delaware.


 


8.4
Counterparts. This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original, but all
of which together shall constitute one and the same instrument. Counterparts may be delivered via electronic mail (including pdf or any
electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and
any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.


 


8.5
Titles and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered
in construing or interpreting this Agreement.


 


8.6
Notices.


 


(a)
General. All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed
effectively given upon the earlier of actual receipt, or (a) personal delivery to the party to be notified, (b) when sent, if sent by
electronic mail during normal business hours of the recipient, and if not sent during normal business hours, then on the recipient’s
next business day, (c) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid,
or (d) one (1) business day after deposit with a nationally recognized overnight courier, freight prepaid, specifying next business day
delivery, with written verification of receipt. All communications shall be sent to the respective parties at their address as set forth
on the signature page or Exhibit A, or to such e-mail address or address as subsequently modified by written notice given in accordance
with this Section 8.6. If notice is given to the Company, a copy (which copy shall not constitute notice) shall also be sent to
Paul Hastings LLP, 1117 S. California Avenue, Palo Alto, CA 94304, Attn: Jeff Hartlin, Email: jeffhartlin@paulhastings.com, and
if notice is given to the Purchasers, a copy (which copy shall not constitute notice) shall also be given to Sage Law Group, 1550 Wewatta
Street, Ste. 2000, Denver, CO 80202, Attn: Rose Standifer, rstandifer@sagelawgroup.com.


 


(b)
Consent to Electronic Notice. Each Purchaser consents to the delivery of any stockholder notice pursuant to the DGCL, by electronic
transmission pursuant to Section 232 of the DGCL (or any successor thereto) at the e-mail address set forth below such Purchaser’s
name on the signature page or Exhibit A, as updated from time to time by notice to the Company. To the extent that any notice
given by means of electronic transmission is returned or undeliverable for any reason, the foregoing consent shall be deemed to have
been revoked until a new or corrected e-mail address has been provided, and such attempted electronic notice shall be ineffective and
deemed to not have been given. Each Purchaser agrees to promptly notify the Company of any change in its e-mail address, and that failure
to do so shall not affect the foregoing.


 




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8.7
No Finder’s Fees. Each party represents that it neither is nor will be obligated for any finder’s fee or commission
in connection with this transaction. Each Purchaser agrees to indemnify and to hold harmless the Company from any liability for any commission
or compensation in the nature of a finder’s or broker’s fee arising out of this transaction (and the costs and expenses of
defending against such liability or asserted liability) for which each Purchaser or any of its officers, employees or representatives
is responsible. The Company agrees to indemnify and hold harmless each Purchaser from any liability for any commission or compensation
in the nature of a finder’s or broker’s fee arising out of this transaction (and the costs and expenses of defending against
such liability or asserted liability) for which the Company or any of its officers, employees or representatives is responsible.


 


8.8
Fees and Expenses. At the Initial Closing, the Company shall pay the reasonable fees and expenses of Sage Law Group LLC, counsel
for Celesta and Mayfield, in an amount not to exceed, in the aggregate, $50,000.


 


8.9
Attorneys’ Fees. If any action at law or in equity (including, arbitration) is necessary to enforce or interpret the terms
of any of the Transaction Agreements, the prevailing party shall be entitled to reasonable attorneys’ fees, costs and necessary
disbursements in addition to any other relief to which such party may be entitled.


 


8.10
Amendments and Waivers. Except as set forth in Section 1.3(c) of this Agreement, any term of this Agreement may be amended,
terminated or waived only with the written consent of the Company and the holders of at least a majority of the then-outstanding Shares.
Any amendment or waiver effected in accordance with this Section 8.10 shall be binding upon the Purchasers and each transferee
of the Shares (or the Common Stock issuable upon conversion thereof), each future holder of all such securities, and the Company.


 


8.11
Severability. The invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability
of any other provision.


 


8.12
Delays or Omissions. No delay or omission to exercise any right, power or remedy accruing to any party under this Agreement, upon
any breach or default of any other party under this Agreement, shall impair any such right, power or remedy of such non-breaching or
non-defaulting party nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in
any similar breach or default thereafter occurring; nor shall any waiver of any single breach or default be deemed a waiver of any other
breach or default theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of
any party of any breach or default under this Agreement, or any waiver on the part of any party of any provisions or conditions of this
Agreement, must be in writing and shall be effective only to the extent specifically set forth in such writing. All remedies, either
under this Agreement or by law or otherwise afforded to any party, shall be cumulative and not alternative.


 


8.13
Entire Agreement. This Agreement (including the Exhibits hereto), the Restated Certificate and the other Transaction Agreements
constitute the full and entire understanding and agreement between the parties with respect to the subject matter hereof, and any other
written or oral agreement relating to the subject matter hereof existing between the parties are expressly canceled.


 




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8.14
Corporate Securities Law. THE SALE OF THE SECURITIES WHICH ARE THE SUBJECT OF THIS AGREEMENT HAS NOT BEEN QUALIFIED WITH THE COMMISSIONER
OF CORPORATIONS OF THE STATE OF CALIFORNIA AND THE ISSUANCE OF THE SECURITIES OR THE PAYMENT OR RECEIPT OF ANY PART OF THE CONSIDERATION
THEREFOR PRIOR TO THE QUALIFICATION IS UNLAWFUL, UNLESS THE SALE OF SECURITIES IS EXEMPT FROM THE QUALIFICATION BY SECTION 25100, 25102
OR 25105 OF THE CALIFORNIA CORPORATIONS CODE. THE RIGHTS OF ALL PARTIES TO THIS AGREEMENT ARE EXPRESSLY CONDITIONED UPON THE QUALIFICATION
BEING OBTAINED UNLESS THE SALE IS SO EXEMPT.


 


8.15
Termination of Closing Obligations. Each Purchaser shall have the right to terminate its obligations to complete a First Tranche
Closing or a Second Tranche Closing, as the case may be, if prior to the occurrence thereof, any of the following occurs:


 


(a)
the Company consummates a Deemed Liquidation Event (as defined in the Restated Certificate);


 


(b)
the closing of an initial public offering of the Company, in which case the Purchasers may terminate their obligations hereunder immediately
prior to, or contingent upon, such closing; or


 


(c)
the Company (i) applies for or consents to the appointment of a receiver, trustee, custodian or liquidator of itself or substantially
all of its property, (ii) becomes subject to the appointment of a receiver, trustee, custodian or liquidator of itself or substantially
all of its property, (iii) makes an assignment for the benefit of creditors, (iv) institutes any proceedings under the United States
Bankruptcy Code or any other federal or state bankruptcy, reorganization, receivership, insolvency or other similar law affecting the
rights of creditors generally, or files a petition or answer seeking reorganization or an arrangement with creditors to take advantage
of any insolvency law, or files an answer admitting the material allegations of a bankruptcy, reorganization or insolvency petition filed
against it, or (v) becomes subject to any involuntary proceedings under the United States Bankruptcy Code or any other federal or state
bankruptcy, reorganization, receivership, insolvency or other similar law affecting the rights of creditors generally, when proceeding
is not dismissed within thirty (30) days of filing, or have an order for relief entered against it in any proceedings under the United
States Bankruptcy Code.


 


8.16
Dispute Resolution. The parties (a) hereby irrevocably and unconditionally submit to the jurisdiction of the state courts of California
and to the jurisdiction of the United States District Court for the Northern District of California for the purpose of any suit, action
or other proceeding arising out of or based upon this Agreement, (b) agree not to commence any suit, action or other proceeding arising
out of or based upon this Agreement except in the state courts of California or the United States District Court for the Northern District
of California, and (c) hereby waive, and agree not to assert, by way of motion, as a defense, or otherwise, in any such suit, action
or proceeding, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt
or immune from attachment or execution, that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the
suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not be enforced in or by such court.


 




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Waiver
of Jury Trial: EACH PARTY HEREBY WAIVES ITS RIGHTS TO
A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT, THE OTHER TRANSACTION AGREEMENTS, THE SECURITIES
OR THE SUBJECT MATTER HEREOF OR THEREOF. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY
BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT
CLAIMS (INCLUDING NEGLIGENCE), BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. THIS SECTION HAS BEEN FULLY DISCUSSED
BY EACH OF THE PARTIES HERETO AND THESE PROVISIONS WILL NOT BE SUBJECT TO ANY EXCEPTIONS. EACH PARTY HERETO HEREBY FURTHER WARRANTS AND
REPRESENTS THAT SUCH PARTY HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL, AND THAT SUCH PARTY KNOWINGLY AND VOLUNTARILY WAIVES ITS
JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL.


 


8.17
Waiver of Conflicts. Each party to this Agreement acknowledges that Paul Hastings LLP, counsel for the Company, may have in the
past performed, and may continue to or in the future perform, legal services for certain of the Purchasers in matters that are similar,
but not substantially related, to the transactions described in this Agreement, including the representation of such Purchasers in venture
capital financings and other matters. Accordingly, each party to this Agreement hereby acknowledges that (a) they have had an opportunity
to ask for information relevant to this disclosure, and (b) Paul Hastings LLP represents only the Company with respect to the Agreement
and the transactions contemplated hereby. The Company gives its informed consent to Paul Hastings LLP’s representation of the Purchasers
in matters not substantially related to this Agreement, and the Purchasers give their informed consent to Paul Hastings LLP’s representation
of the Company in connection with this Agreement and the transactions contemplated hereby.


 


[Signature
Page Follows]


 




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IN
WITNESS WHEREOF, the parties have executed this Series A Preferred Stock Purchase Agreement as of the date first written above.


 





	 	COMPANY:
	 	 
	 	AURADINE,
    INC.
	 	 	 
	 	By: 	 
	 	Name: 	Barun Kar
	 	Title: 	Chief Executive Officer
	 	 	 
	 	Address:  
	 	985 Paradise Way  
	 	Palo Alto, CA 94306  
	 	IN WITNESS WHEREOF, the parties have executed
    this Series A Preferred Stock Purchase Agreement as of the date first written above.  


 






    	 



     


    




 


INVESTORS’
RIGHTS AGREEMENT


 


THIS
INVESTORS’ RIGHTS AGREEMENT (this “Agreement”) is made as of April ____, 2022, by and among Auradine, Inc.,
a Delaware corporation (the “Company”), and each of the investors listed on Schedule A hereto, each of which
is referred to in this Agreement as an “Investor”.


 


RECITALS


 


WHEREAS,
the Company and the Investors are parties to that certain Series A Preferred Stock Purchase Agreement of even date herewith (the “Purchase
Agreement”); and


 


WHEREAS,
in order to induce the Company to enter into the Purchase Agreement and to induce the Investors to invest funds in the Company pursuant
to the Purchase Agreement, the Investors and the Company hereby agree that this Agreement shall govern the rights of the Investors to
cause the Company to register shares of Common Stock issuable to the Investors, to receive certain information from the Company, and
to participate in future equity offerings by the Company, and shall govern certain other matters as set forth in this Agreement;


 


NOW,
THEREFORE, the parties hereby agree as follows:


 


	1.	Definitions.
                                            For purposes of this Agreement:



 


1.1
“Affiliate” means, with respect to any specified Person, any other Person who, directly or indirectly, controls, is
controlled by, or is under common control with such Person, including, without limitation, any general partner, managing member, officer,
director or trustee of such Person, or any venture capital fund or other investment fund now or hereafter existing that is controlled
by one (1) or more general partners, managing members or investment adviser of, or shares the same management company or investment adviser
with, such Person.


 


1.2
“Board of Directors” means the board of directors of the Company.


 


1.3
“Celesta” means Celesta Capital IV, L.P.


 


1.4
“Certificate of Incorporation” means the Company’s Amended and Restated Certificate of Incorporation, as amended
and/or restated from time to time.


 


1.5
“Common Stock” means shares of the Company’s common stock, par value $0.00001 per share.


 


1.6
“Competitor” means a Person engaged, directly or indirectly (including through any partnership, limited liability
company, corporation, joint venture or similar arrangement (whether now existing or formed hereafter)), in the development of hardware
or software for bitcoin mining, but shall not include any financial investment firm or collective investment vehicle that, together with
its Affiliates, holds less than twenty percent (20%) of the outstanding equity of any Competitor and does not, nor do any of its Affiliates,
have a right to designate any members of the board of directors of any Competitor; provided that in no event shall either Celesta or
Mayfield be deemed a Competitor.


 






    	1



     


    

 


1.7
“Damages” means any loss, damage, claim or liability (joint or several) to which a party hereto may become subject
under the Securities Act, the Exchange Act, or other federal or state law, insofar as such loss, damage, claim or liability (or any action
in respect thereof) arises out of or is based upon: (i) any untrue statement or alleged untrue statement of a material fact contained
in any registration statement of the Company, including any preliminary prospectus or final prospectus contained therein or any amendments
or supplements thereto; (ii) an omission or alleged omission to state therein a material fact required to be stated therein, or necessary
to make the statements therein not misleading; or (iii) any violation or alleged violation by the indemnifying party (or any of its agents
or Affiliates) of the Securities Act, the Exchange Act, any state securities law, or any rule or regulation promulgated under the Securities
Act, the Exchange Act, or any state securities law.


 


1.8
“Derivative Securities” means any securities or rights convertible into, or exercisable or exchangeable for (in each
case, directly or indirectly), Common Stock, including options and warrants.


 


1.9
“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.


 


1.10
“Excluded Registration” means (i) a registration relating to the sale or grant of securities to employees of the Company
or a subsidiary pursuant to a stock option, stock purchase, equity incentive or similar plan; (ii) a registration relating to an SEC
Rule 145 transaction; (iii) a registration on any form that does not include substantially the same information as would be required
to be included in a registration statement covering the sale of the Registrable Securities; or (iv) a registration in which the only
Common Stock being registered is Common Stock issuable upon conversion of debt securities that are also being registered.


 


1.11
“Form S-1” means such form under the Securities Act as in effect on the date hereof or any successor registration
form under the Securities Act subsequently adopted by the SEC.


 


1.12
“Form S-3” means such form under the Securities Act as in effect on the date hereof or any registration form under
the Securities Act subsequently adopted by the SEC that permits forward incorporation of substantial information by reference to other
documents filed by the Company with the SEC.


 


1.13
“GAAP” means generally accepted accounting principles in the United States as in effect from time to time.


 


1.14
“Holder” means any holder of Registrable Securities who is a party to this Agreement.


 


1.15
“Immediate Family Member” means a child, stepchild, grandchild, parent, stepparent, grandparent, spouse, life partner
or similar statutorily-recognized domestic partner, sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law,
or sister-in-law, including adoptive relationships of a natural person referred to herein.


 






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1.16
“Initiating Holders” means, collectively, Holders who properly initiate a registration request under this Agreement.


 


1.17
“IPO” means the Company’s first underwritten public offering of its Common Stock under the Securities Act.


 


1.18
“Major Investor” means each of Celesta, Marathon, and Mayfield; provided that, upon the Second Tranche Closing (as
defined in the Purchase Agreement), if any aforementioned person has not purchased its entire number of Additional A-4 Shares (as defined
in the Purchase Agreement) set forth opposite such person’s name on Exhibit A to the Purchase Agreement as of the Initial Closing
(as defined in the Purchase Agreement), such person shall not be deemed a Major Investor under any circumstances; and provided further
that any such aforementioned person shall cease to be considered a Major Investor for purposes of this Agreement at any time such person
and his, her or its Affiliates collectively hold fewer than eighty-five percent (85%) of the total number of shares of Series A Preferred
Stock purchased by such person at the Closings (as defined in the Purchase Agreement).


 


1.19
“Marathon” means Marathon Digital Holdings, Inc.


 


1.20
“Mayfield” means Mayfield Select II, a Delaware Limited Partnership.


 


1.21
“New Securities” means, collectively, equity securities of the Company, whether or not currently authorized, as well
as rights, options, or warrants to purchase such equity securities, or securities of any type whatsoever that are, or may become, convertible
or exchangeable into or exercisable for such equity securities.


 


1.22
“Person” means any individual, corporation, partnership, trust, limited liability company, association or other entity.


 


1.23
“Preferred Director” means any director of the Company that the holders of record of Series A Preferred Stock are
entitled to elect, exclusively and as a separate class, pursuant to the Certificate of Incorporation.


 


1.24
“Registrable Securities” means (i) the Common Stock issuable or issued upon conversion of the Series A Preferred Stock;
(ii) any Common Stock, or any Common Stock issued or issuable (directly or indirectly) upon conversion and/or exercise of any other securities
of the Company, acquired by the Investors after the date hereof; and (iii) any Common Stock issued as (or issuable upon the conversion
or exercise of any warrant, right, or other security that is issued as) a dividend or other distribution with respect to, or in exchange
for or in replacement of, the shares referenced in clauses (i) and (ii) above; excluding in all cases, however, any Registrable
Securities sold by a Person in a transaction in which the applicable rights under this Agreement are not assigned pursuant to Section
6.1, and excluding for purposes of Section 2 any shares for which registration rights have terminated pursuant to Section
2.13 of this Agreement.


 


1.25
“Registrable Securities then outstanding” means the number of shares determined by adding the number of shares of
outstanding Common Stock that are Registrable Securities and the number of shares of Common Stock issuable (directly or indirectly) pursuant
to then exercisable and/or convertible securities that are Registrable Securities.


 






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1.26
“Restricted Securities” means the securities of the Company required to be notated with the legend set forth in Section
2.12 (b) hereof.


 


1.27
“Reverse Merger” means the merger of the Company with a company whose shares are registered under the Exchange Act
and whose shares are listed for traded on a securities exchange (an “Acquiror”), or a merger with an affiliate of
such Acquiror.


 


1.28
“SEC” means the Securities and Exchange Commission.


 


1.29
“SEC Rule 144” means Rule 144 promulgated by the SEC under the Securities Act.


 


1.30
“SEC Rule 145” means Rule 145 promulgated by the SEC under the Securities Act.


 


1.31
“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.


 


1.32
“Selling Expenses” means all underwriting discounts, selling commissions, and stock transfer taxes applicable to the
sale of Registrable Securities, and fees and disbursements of counsel for any Holder, except for the fees and disbursements of the Selling
Holder Counsel borne and paid by the Company as provided in Section 2.6.


 


1.33
“Series A Preferred Stock” means, collectively, shares of the Company’s Series A-1 Preferred Stock, par value
$0.00001 per share, shares of the Company’s Series A-2 Preferred Stock, par value $0.00001 per share, shares of the Company’s
Series A-3 Preferred Stock, par value $0.00001 per share, and shares of the Company’s Series A-4 Preferred Stock, par value $0.00001
per share.


 


	2.	Registration
                                            Rights. The Company covenants and agrees as follows:



 


2.1
Demand Registration.


 


(a)
Form S-1 Demand. If at any time after the earlier of (i) five (5) years after the date of this Agreement or (ii) one hundred eighty
(180) days after the effective date of the registration statement for the IPO, the Company receives a request from Holders of a majority
of the Registrable Securities then outstanding that the Company file a Form S-1 registration statement with respect to at least forty
percent (40%) of the Registrable Securities then outstanding (the “S-1 Request”), then the Company shall: (x) within
ten (10) days after the date such request is given, give notice thereof (the “Demand Notice”) to all Holders other
than the Initiating Holders; and (y) as soon as practicable, and in any event within sixty (60) days after the date such request is given
by the Initiating Holders, file a Form S-1 registration statement under the Securities Act covering all Registrable Securities that the
Initiating Holders requested to be registered and any additional Registrable Securities requested to be included in such registration
by any other Holders, as specified by notice given by each such Holder to the Company within twenty (20) days of the date the Demand
Notice is given, and in each case, subject to the limitations of Sections 2.1 (c)  and 2.3.


 






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(b)
Form S-3 Demand. If at any time when it is eligible to use a Form S-3 registration statement, the Company receives a request from
Holders of at least twenty percent (20%) of the Registrable Securities then outstanding that the Company file a Form S-3 registration
statement with respect to outstanding Registrable Securities of such Holders having an anticipated aggregate offering price, net of Selling
Expenses, of at least $10 million (the “S-3 Request”), then the Company shall (i) within ten (10) days after the date
such request is given, give a Demand Notice to all Holders other than the Initiating Holders; and (ii) as soon as practicable, and in
any event within forty-five (45) days after the date such request is given by the Initiating Holders, file a Form S-3 registration statement
under the Securities Act covering all Registrable Securities requested to be included in such registration by any other Holders, as specified
by notice given by each such Holder to the Company within twenty (20) days of the date the Demand Notice is given, and in each case,
subject to the limitations of Sections 2.1 (c) and 2.3.


 


(c)
Notwithstanding the foregoing obligations, if the Company furnishes to Holders requesting a registration pursuant to this Section
2.1 a certificate signed by the Company’s chief executive officer stating that in the good faith judgment of the Board of Directors
it would be materially detrimental to the Company and its stockholders for such registration statement to either become effective or
remain effective for as long as such registration statement otherwise would be required to remain effective, because such action would
(i) materially interfere with a significant acquisition, corporate reorganization, or other similar transaction involving the Company;
(ii) require premature disclosure of material information that the Company has a bona fide business purpose for preserving as confidential;
or (iii) render the Company unable to comply with requirements under the Securities Act or Exchange Act, then the Company shall have
the right to defer taking action with respect to such filing, and any time periods with respect to filing or effectiveness thereof shall
be tolled correspondingly, for a period of not more than one hundred twenty (120) days after the request of the Initiating Holders is
given; provided, however, that the Company may not invoke this right more than once in any twelve (12) month period; and
provided further that the Company shall not register any securities for its own account or that of any other stockholder during
such one hundred twenty (120) day period other than an Excluded Registration.


 


(d)
The Company shall not be obligated to effect, or to take any action to effect, any registration pursuant to Section 2.1 (a), (i)
during the period that is sixty (60) days before the Company’s good faith estimate of the date of filing of, and ending on a
date that is one hundred eighty (180) days after the effective date of, a Company-initiated registration, provided that the
Company is actively employing in good faith commercially reasonable efforts to cause such registration statement to become
effective; (ii) after the Company has effected one (1) registration pursuant to Section 2.1(a); or (iii) if the Initiating
Holders propose to dispose of shares of Registrable Securities that may be immediately registered on Form S-3 pursuant to a request
made pursuant to Section 2.1(b). The Company shall not be obligated to effect, or to take any action to effect, any
registration pursuant to Section 2.1(b), (i) during the period that is thirty (30) days before the Company’s good faith
estimate of the date of filing of, and ending on a date that is ninety (90) days after the effective date of, a Company-initiated
registration, provided that the Company is actively employing in good faith commercially reasonable efforts to cause such
registration statement to become effective; or (ii) if the Company has effected two (2) registrations pursuant to Section
2.1(b) within the twelve (12) month period immediately preceding the date of such request. A registration shall not be counted
as “effected” for purposes of this Section 2.1(d) until such time as the applicable registration statement has
been declared effective by the SEC, unless the Initiating Holders withdraw their request for such registration, elect not to pay the
registration expenses therefor, and forfeit their right to one demand registration statement pursuant to Section 2.6, in
which case such withdrawn registration statement shall be counted as “effected” for purposes of this Section
2.1(d); provided, that if such withdrawal is during a period the Company has deferred taking action pursuant to Section
2.1(c), then the Initiating Holders may withdraw their request for registration and such registration will not be counted as
“effected” for purposes of this Section 2.1(d).


 






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(e)
If the Company fails to (i) file a Form S-1 registration statement under the Securities Act pursuant to Section 2.1(a) within
sixty (60) days after the S-1 Request is given (and not withdrawn) by the Initiating Holders, or (ii) file a Form S-3 registration statement
under the Securities Act pursuant to Section 2.1(b) within forty-five (45) days after the S-3 Request is given (and not withdrawn)
by the Initiating Holders (any such failure or breach being referred to as an “Event”, and for purposes of clauses
(i) and (ii), the date on which such Event occurs, being referred to as an “Event Date”), then, in addition to any
other rights the Holders may have hereunder or under applicable law, on each such Event Date and on each monthly anniversary of each
such Event Date (if the applicable Event shall not have been cured by such date) until the applicable Event is cured, the Company shall
pay to each Holder an amount in cash, as partial liquidated damages and not as a penalty, equal to the product of 1.5% multiplied by
the aggregate subscription amount paid by such Holder to the Company pursuant to the Purchase Agreement for the Registrable Securities
held by such Holder (the “Aggregate Subscription Price”). The parties agree that the maximum aggregate liquidated
damages payable to a Holder under this Agreement shall be 6% of such Holder’s Aggregate Subscription Price. Notwithstanding the
foregoing, no liquidated damages shall be owed to a Holder with respect to any period during which all of such Holder’s Registrable
Securities may be sold by such Holder without restriction under Rule 144 (including, without limitation, volume restrictions) and without
the need for current public information required by Rule 144(c)(1) (or Rule 144(i)(2), if applicable) or, with respect to any Holder,
to the extent the Company has previously paid to such Holder an aggregate of liquidated damages in excess of 6% of the Aggregate Subscription
Price paid by such Holder pursuant to the Purchase Agreement.


 


2.2
Company Registration. If the Company proposes to register (including for this purpose a registration effected by the Company for
stockholders other than the Holders) any of its securities under the Securities Act in connection with the public offering of such securities
solely for cash (other than in an Excluded Registration, a registration relating to a demand pursuant to Section 2.1 or the IPO),
the Company shall, at such time, promptly give each Holder notice of such registration. Upon the request of each Holder given within
twenty (20) days after such notice is given by the Company, the Company shall, subject to the provisions of Section 2.3, cause
to be registered all of the Registrable Securities that each such Holder has requested to be included in such registration. The Company
shall have the right to terminate or withdraw any registration initiated by it under this Section 2.2 before the effective date
of such registration, whether or not any Holder has elected to include Registrable Securities in such registration. The expenses (other
than Selling Expenses) of such withdrawn registration shall be borne by the Company in accordance with Section 2.6.


 






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2.3
Underwriting Requirements.


 


(a)
If, pursuant to Section 2.1, the Initiating Holders intend to distribute the Registrable Securities covered by their request by
means of an underwriting, they shall so advise the Company as a part of their request made pursuant to Section 2.1, and the Company
shall include such information in the Demand Notice. The underwriter(s) will be selected by the Board of Directors and shall be reasonably
acceptable to a majority in interest of the Initiating Holders. In such event, the right of any Holder to include such Holder’s
Registrable Securities in such registration shall be conditioned upon such Holder’s participation in such underwriting and the
inclusion of such Holder’s Registrable Securities in the underwriting to the extent provided herein. All Holders proposing to distribute
their securities through such underwriting shall (together with the Company as provided in Section 2.4(e)) enter into an underwriting
agreement in customary form with the underwriter(s) selected for such underwriting. Notwithstanding any other provision of this Section
2.3, if the managing underwriter(s) advise(s) the Initiating Holders in writing that marketing factors require a limitation on the
number of shares to be underwritten, then the Initiating Holders shall so advise all Holders of Registrable Securities that otherwise
would be underwritten pursuant hereto, and the number of Registrable Securities that may be included in the underwriting shall be allocated
among such Holders of Registrable Securities, including the Initiating Holders, in proportion (as nearly as practicable) to the number
of Registrable Securities owned by each Holder or in such other proportion as shall mutually be agreed to by all such selling Holders;
provided, however, that the number of Registrable Securities held by the Holders to be included in such underwriting shall
not be reduced unless all other securities are first entirely excluded from the underwriting. To facilitate the allocation of shares
in accordance with the above provisions, the Company or the underwriters may round the number of shares allocated to any Holder to the
nearest one hundred (100) shares.


 


(b)
In connection with any offering involving an underwriting of shares of the Company’s capital stock pursuant to Section 2.2,
the Company shall not be required to include any of the Holders’ Registrable Securities in such underwriting unless the Holders
accept the terms of the underwriting as agreed upon between the Company and its underwriters, and then only in such quantity as the underwriters
in their sole discretion determine will not jeopardize the success of the offering by the Company. If the total number of securities,
including Registrable Securities, requested by stockholders to be included in such offering exceeds the number of securities to be sold
(other than by the Company) that the underwriters in their reasonable discretion determine is compatible with the success of the offering,
then the Company shall be required to include in the offering only that number of such securities, including Registrable Securities,
which the underwriters and the Company in their sole discretion determine will not jeopardize the success of the offering. If the underwriters
determine that less than all of the Registrable Securities requested to be registered can be included in such offering, then the Registrable
Securities that are included in such offering shall be allocated among the selling Holders in proportion (as nearly as practicable to)
the number of Registrable Securities owned by each selling Holder or in such other proportions as shall mutually be agreed to by all
such selling Holders. To facilitate the allocation of shares in accordance with the above provisions, the Company or the underwriters
may round the number of shares allocated to any Holder to the nearest one hundred (100) shares. Notwithstanding the foregoing, in no
event shall (i) the number of Registrable Securities included in the offering be reduced unless all other securities (other than securities
to be sold by the Company) are first entirely excluded from the offering, or (ii) the number of Registrable Securities included in the
offering be reduced below twenty percent (20%) of the total number of securities included in such offering, unless such offering is the
IPO, in which case the selling Holders may be excluded further if the underwriters make the determination described above and no other
stockholder’s securities are included in such offering. For purposes of the provision in this Section 2.3(b) concerning apportionment,
for any selling Holder that is a partnership, limited liability company, or corporation, the partners, members, retired partners, retired
members, stockholders, and Affiliates of such Holder, or the estates and Immediate Family Members of any such partners, retired partners,
members, and retired members and any trusts for the benefit of any of the foregoing Persons, shall be deemed to be a single “selling
Holder,” and any pro rata reduction with respect to such “selling Holder” shall be based upon the aggregate number
of Registrable Securities owned by all Persons included in such “selling Holder,” as defined in this sentence.


 






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(c)
For purposes of Section 2.1, a registration shall not be counted as “effected” if, as a result of an exercise of the
underwriter’s cutback provisions in Section 2.3(a), fewer than fifty percent (50%) of the total number of Registrable Securities
that Holders have requested to be included in such registration statement are actually included.


 


2.4
Obligations of the Company. Whenever required under this Section 2 to effect the registration of any Registrable Securities,
the Company shall, as expeditiously as reasonably possible:


 


(a)
prepare and file with the SEC a registration statement with respect to such Registrable Securities and use its commercially reasonable
efforts to cause such registration statement to become effective and, upon the request of the Holders of a majority of the Registrable
Securities registered thereunder, keep such registration statement effective for a period of up to one hundred twenty (120) days or,
if earlier, until the distribution contemplated in the registration statement has been completed; provided, however, that
such one hundred twenty (120) day period shall be extended for a period of time equal to the period the Holder refrains, at the request
of an underwriter of Common Stock (or other securities) of the Company, from selling any securities included in such registration;


 


(b)
prepare and file with the SEC such amendments and supplements to such registration statement, and the prospectus used in connection with
such registration statement, as may be necessary to comply with the Securities Act in order to enable the disposition of all securities
covered by such registration statement;


 


(c)
furnish to the selling Holders such numbers of copies of a prospectus, including a preliminary prospectus, as required by the Securities
Act, and such other documents as the Holders may reasonably request in order to facilitate their disposition of their Registrable Securities;


 


(d)
use its commercially reasonable efforts to register and qualify the securities covered by such registration statement under such other
securities or blue-sky laws of such jurisdictions as shall be reasonably requested by the selling Holders; provided that the Company
shall not be required to qualify to do business or to file a general consent to service of process in any such states or jurisdictions,
unless the Company is already subject to service in such jurisdiction and except as may be required by the Securities Act;


 






    	8



     


    

 


(e)
in the event of any underwritten public offering, enter into and perform its obligations under an underwriting agreement, in usual and
customary form, with the underwriter(s) of such offering;


 


(f)
use its commercially reasonable efforts to cause all such Registrable Securities covered by such registration statement to be listed
on a national securities exchange or trading system and each securities exchange and trading system (if any) on which similar securities
issued by the Company are then listed;


 


(g)
provide a transfer agent and registrar for all Registrable Securities registered pursuant to this Agreement and provide a CUSIP number
for all such Registrable Securities, in each case not later than the effective date of such registration;


 


(h)
promptly make available for inspection by the selling Holders, any managing underwriter(s) participating in any disposition pursuant
to such registration statement, and any attorney or accountant or other agent retained by any such underwriter or selected by the selling
Holders, all financial and other records, pertinent corporate documents, and properties of the Company, and cause the Company’s
officers, directors, employees, and independent accountants to supply all information reasonably requested by any such seller, underwriter,
attorney, accountant, or agent, in each case, as necessary or advisable to verify the accuracy of the information in such registration
statement and to conduct appropriate due diligence in connection therewith;


 


(i)
notify each selling Holder, promptly after the Company receives notice thereof, of the time when such registration statement has been
declared effective or a supplement to any prospectus forming a part of such registration statement has been filed; and


 


(j)
after such registration statement becomes effective, notify each selling Holder of any request by the SEC that the Company amend or supplement
such registration statement or prospectus.


 


In
addition, the Company shall ensure that, at all times after any registration statement covering a public offering of securities of the
Company under the Securities Act shall have become effective, its insider trading policy shall provide that the Company’s directors
may implement a trading program under Rule 10b5-1 of the Exchange Act.


 


2.5
Furnish Information. It shall be a condition precedent to the obligations of the Company to take any action pursuant to this Section
2 with respect to the Registrable Securities of any selling Holder that such Holder shall furnish to the Company such information
regarding itself, the Registrable Securities held by it, and the intended method of disposition of such securities as is reasonably required
to effect the registration of such Holder’s Registrable Securities.


 






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2.6
Expenses of Registration. All expenses (other than Selling Expenses) incurred in connection with registrations, filings, or qualifications
pursuant to Section 2, including all registration, filing, and qualification fees; printers’ and accounting fees; fees and
disbursements of counsel for the Company; and the reasonable fees and disbursements, not to exceed $25,000 per registration, of one counsel
for the selling Holders selected by Holders of a majority of the Registrable Securities to be registered (“Selling Holder Counsel”),
shall be borne and paid by the Company; provided, however, that the Company shall not be required to pay for any expenses
of any registration proceeding begun pursuant to Section 2.1 if the registration request is subsequently withdrawn at the request
of the Holders of a majority of the Registrable Securities to be registered (in which case all selling Holders shall bear such expenses
pro rata based upon the number of Registrable Securities that were to be included in the withdrawn registration), unless the Holders
of a majority of the Registrable Securities agree to forfeit their right to one registration pursuant to Sections 2.1(a) or 2.1(b),
as the case may be. All Selling Expenses relating to Registrable Securities registered pursuant to this Section 2 (other than
fees and disbursements of counsel to any Holder, other than the Selling Holder Counsel, which shall be borne solely by the Holder engaging
such counsel) shall be borne and paid by the Holders pro rata on the basis of the number of Registrable Securities registered on their
behalf.


 


2.7
Delay of Registration. No Holder shall have any right to obtain or seek an injunction restraining or otherwise delaying any registration
pursuant to this Agreement as the result of any controversy that might arise with respect to the interpretation or implementation of
this Section 2.


 


2.8
Indemnification. If any Registrable Securities are included in a registration statement under this Section 2:


 


(a)
To the extent permitted by law, the Company will indemnify and hold harmless each selling Holder, and the partners, members, officers,
directors, and stockholders of each such Holder; legal counsel and accountants for each such Holder; any underwriter (as defined in the
Securities Act) for each such Holder; and each Person, if any, who controls such Holder or underwriter within the meaning of the Securities
Act or the Exchange Act, against any Damages, and the Company will pay to each such Holder, underwriter, controlling Person, or other
aforementioned Person any legal or other expenses reasonably incurred thereby in connection with investigating or defending any claim
or proceeding from which Damages may result, as such expenses are incurred; provided, however, that the indemnity agreement
contained in this Section 2.8(a) shall not apply to amounts paid in settlement of any such claim or proceeding if such settlement is
effected without the consent of the Company, which consent shall not be unreasonably withheld, nor shall the Company be liable for any
Damages to the extent that they arise out of or are based upon actions or omissions made in reliance upon and in conformity with written
information furnished by or on behalf of any such Holder, underwriter, controlling Person, or other aforementioned Person expressly for
use in connection with such registration.


 


(b)
To the extent permitted by law, each selling Holder, severally and not jointly, will indemnify and hold harmless the Company, and each
of its directors, each of its officers who has signed the registration statement, each Person (if any), who controls the Company within
the meaning of the Securities Act, legal counsel and accountants for the Company, any underwriter (as defined in the Securities Act),
any other Holder selling securities in such registration statement, and any controlling Person of any such underwriter or other Holder,
against any Damages, in each case only to the extent that such Damages arise out of or are based upon actions or omissions made in reliance
upon and in conformity with written information furnished by or on behalf of such selling Holder expressly for use in connection with
such registration; and each such selling Holder will pay to the Company and each other aforementioned Person any legal or other expenses
reasonably incurred thereby in connection with investigating or defending any claim or proceeding from which Damages may result, as such
expenses are incurred; provided, however, that the indemnity agreement contained in this Section 2.8(b) shall not
apply to amounts paid in settlement of any such claim or proceeding if such settlement is effected without the consent of the Holder,
which consent shall not be unreasonably withheld; and provided further that in no event shall the aggregate amounts payable by
any Holder by way of indemnity or contribution under Section 2.8(b) and 2.8(d) exceed the proceeds from the offering received by such
Holder (net of any Selling Expenses paid by such Holder), except in the case of fraud or willful misconduct by such Holder.


 






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(c)
Promptly after receipt by an indemnified party under this Section 2.8 of notice of the commencement of any action (including any
governmental action) for which a party may be entitled to indemnification hereunder, such indemnified party will, if a claim in respect
thereof is to be made against any indemnifying party under this Section 2.8, give the indemnifying party notice of the commencement
thereof. The indemnifying party shall have the right to participate in such action and, to the extent the indemnifying party so desires,
participate jointly with any other indemnifying party to which notice has been given, and to assume the defense thereof with counsel
mutually satisfactory to the parties; provided, however, that an indemnified party (together with all other indemnified
parties that may be represented without conflict by one counsel) shall have the right to retain one separate counsel, with the fees and
expenses to be paid by the indemnifying party, if representation of such indemnified party by the counsel retained by the indemnifying
party would be inappropriate due to actual or potential differing interests between such indemnified party and any other party represented
by such counsel in such action. The failure to give notice to the indemnifying party within a reasonable time of the commencement of
any such action shall relieve such indemnifying party of any liability to the indemnified party under this Section 2.8, only to
the extent that such failure materially prejudices the indemnifying party’s ability to defend such action. The failure to give
notice to the indemnifying party will not relieve it of any liability that it may have to any indemnified party otherwise than under
this Section 2.8.


 


(d)
To provide for just and equitable contribution to joint liability under the Securities Act in any case in which either: (i) any party
otherwise entitled to indemnification hereunder makes a claim for indemnification pursuant to this Section 2.8 but it is judicially
determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the
denial of the last right of appeal) that such indemnification may not be enforced in such case, notwithstanding the fact that this Section
2.8 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of any party
hereto for which indemnification is provided under this Section 2.8, then, and in each such case, such parties will contribute to
the aggregate losses, claims, damages, liabilities, or expenses to which they may be subject (after contribution from others) in such
proportion as is appropriate to reflect the relative fault of each of the indemnifying party and the indemnified party in connection
with the statements, omissions, or other actions that resulted in such loss, claim, damage, liability, or expense, as well as to reflect
any other relevant equitable considerations. The relative fault of the indemnifying party and of the indemnified party shall be determined
by reference to, among other things, whether the untrue or allegedly untrue statement of a material fact, or the omission or alleged
omission of a material fact, relates to information supplied by the indemnifying party or by the indemnified party and the parties’
relative intent, knowledge, access to information, and opportunity to correct or prevent such statement or omission; provided,
however, that, in any such case (x) no Holder will be required to contribute any amount in excess of the public offering price
of all such Registrable Securities offered and sold by such Holder pursuant to such registration statement, and (y) no Person guilty
of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) will be entitled to contribution from any
Person who was not guilty of such fraudulent misrepresentation; and provided further that in no event shall a Holder’s liability
pursuant to this Section 2.8(d), when combined with the amounts paid or payable by such Holder pursuant to Section 2.8(b), exceed
the proceeds from the offering received by such Holder (net of any Selling Expenses paid by such Holder), except in the case of willful
misconduct or fraud by such Holder.


 






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(e)
Notwithstanding the foregoing, to the extent that the provisions on indemnification and contribution contained in the underwriting agreement
entered into in connection with the underwritten public offering are in conflict with the foregoing provisions, the provisions in the
underwriting agreement shall control; provided, however, that any matter expressly provided for or addressed by the foregoing
provisions that is not expressly provided for or addressed by the underwriting agreement shall be controlled by the foregoing provisions.


 


(f)
Unless otherwise superseded by an underwriting agreement entered into in connection with the underwritten public offering, the obligations
of the Company and Holders under this Section 2.8 shall survive the completion of any offering of Registrable Securities in a registration
under this Section 2, and otherwise shall survive the termination of this Agreement or any provision(s) of this Agreement.


 


2.9
Reports Under Exchange Act. With a view to making available to the Holders the benefits of SEC Rule 144 and any other rule or
regulation of the SEC that may at any time permit a Holder to sell securities of the Company to the public without registration or pursuant
to a registration on Form S-3, the Company shall:


 


(a)
make and keep available adequate current public information, as those terms are understood and defined in SEC Rule 144, at all times
after the effective date of the registration statement filed by the Company for the IPO;


 


(b)
use commercially reasonable efforts to file with the SEC in a timely manner all reports and other documents required of the Company under
the Securities Act and the Exchange Act (at any time after the Company has become subject to such reporting requirements); and


 


(c)
furnish to any Holder, so long as the Holder owns any Registrable Securities, forthwith upon request (i) to the extent accurate, a written
statement by the Company that it has complied with the reporting requirements of SEC Rule 144 (at any time after ninety (90) days after
the effective date of the registration statement filed by the Company for the IPO), the Securities Act, and the Exchange Act (at any
time after the Company has become subject to such reporting requirements), or that it qualifies as a registrant whose securities may
be resold pursuant to Form S-3 (at any time after the Company so qualifies); and (ii) such other information as may be reasonably requested
in availing any Holder of any rule or regulation of the SEC that permits the selling of any such securities without registration (at
any time after the Company has become subject to the reporting requirements under the Exchange Act) or pursuant to Form S-3 (at any time
after the Company so qualifies to use such form).


 






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2.10
Limitations on Subsequent Registration Rights. From and after the date of this Agreement, the Company shall not, without the prior
written consent of the Requisite Holders (as defined in the Certificate of Incorporation), enter into any agreement with any holder or
prospective holder of any securities of the Company that would (i) provide to such holder or prospective holder the right to include
securities in any registration on other than on a subordinate basis with respect to the Registrable Securities after all Holders have
had the opportunity to include in the registration and offering all shares of Registrable Securities that they wish to so include; or
(ii) allow such holder or prospective holder to initiate a demand for registration of any securities held by such holder or prospective
holder; provided that this limitation shall not apply to Registrable Securities acquired by any additional Investor that becomes
a party to this Agreement in accordance with Section 6.9.


 


2.11
“Market Stand-off” Agreement. Each Holder hereby agrees that it will not, without the prior written consent of the
managing underwriter, during the period commencing on the date of the final prospectus relating to the registration by the Company of
shares of its Common Stock or any other equity securities under the Securities Act on a registration statement on Form S-1, and ending
on the date specified by the Company and the managing underwriter (such period not to exceed one hundred eighty (180) days in the case
of the IPO, or such other period as may be requested by the Company or an underwriter to accommodate regulatory restrictions on (1) the
publication or other distribution of research reports and (2) analyst recommendations and opinions, including, but not limited to, the
restrictions contained in applicable FINRA rules, or any successor provisions or amendments thereto), or in the case of a Reverse Merger,
during the period commencing on the date of the closing of the Reverse Merger and ending on the date that is one hundred eighty (180)
days after such closing, (i) lend; offer; pledge; sell; contract to sell; sell any option or contract to purchase; purchase any option
or contract to sell; grant any option, right, or warrant to purchase; or otherwise transfer or dispose of, directly or indirectly, any
shares of Common Stock or any securities convertible into or exercisable or exchangeable (directly or indirectly) for Common Stock held
immediately before the effective date of the registration statement for such offering or the closing of the Reverse Merger, or (ii) enter
into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of such
securities, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of Common Stock
or other securities, in cash, or otherwise. The foregoing provisions of this Section 2.11 shall apply only to the IPO and the Reverse
Merger, shall not apply to the sale of any shares to an underwriter pursuant to an underwriting agreement, or the transfer of any shares
to any trust for the direct or indirect benefit of the Holder or the immediate family of the Holder, provided that the trustee
of the trust agrees to be bound in writing by the restrictions set forth herein, and provided further that any such transfer shall
not involve a disposition for value, and shall be applicable to the Holders only if all officers and directors are subject to the same
restrictions and the Company uses commercially reasonable efforts to obtain a similar agreement from all stockholders individually owning
more than one percent (1%) of the Company’s outstanding Common Stock (after giving effect to conversion into Common Stock of all
outstanding Series A Preferred Stock). The underwriters in connection with such IPO registration, and the Acquiror in such Reverse Merger,
are intended third-party beneficiaries of this Section 2.11 and shall have the right, power and authority to enforce the provisions
hereof as though they were a party hereto. Each Holder further agrees to execute such agreements as may be reasonably requested by the
underwriters in connection with such IPO registration, and the Acquiror in connection with such Reverse Merger, that are consistent with
this Section 2.11 or that are necessary to give further effect thereto. Any discretionary waiver or termination of the restrictions
of any or all of such agreements by the Company or the underwriters shall apply pro rata to all Company stockholders that are subject
to such agreements, based on the number of shares subject to such agreements.


 






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2.12
Restrictions on Transfer.


 


(a)
The Series A Preferred Stock and the Registrable Securities shall not be sold, pledged, or otherwise transferred, and the Company shall
not recognize and shall issue stop-transfer instructions to its transfer agent with respect to any such sale, pledge, or transfer, except
upon the conditions specified in this Agreement, which conditions are intended to ensure compliance with the provisions of the Securities
Act. Notwithstanding anything to the contrary, a Holder of outstanding shares of Series A Preferred Stock shall be entitled to transfer
any such shares of Series A Preferred Stock to a transferee that (i) is an Affiliate of a Holder; (ii) is a Holder’s Immediate
Family Member or trust for the benefit of an individual Holder or one (1) or more of such Holder’s Immediate Family Members; (iii)
is a partnership or fund managed by such Holder or the director, officer, or partner of such partnership or fund; or (iv) after such
transfer, holds at least one percent (1%) of the total then-outstanding shares of Series A Preferred Stock of the Company (subject to
appropriate adjustment for stock splits, stock dividends, combinations, and other recapitalizations); provided that such transferee
(x) agrees to be subject to the terms of this Agreement and the Voting Agreement of even date herewith entered among the Investors, the
Company and the other parties named therein, and (y) is not a Competitor as reasonably determined by the Board of Directors. A transferring
Holder will cause any proposed purchaser, pledgee, or transferee of the Series A Preferred Stock and the Registrable Securities held
by such Holder to agree to take and hold such securities subject to the provisions and upon the conditions specified in this Agreement.


 


(b)
Each certificate, instrument, or book entry representing (i) the Series A Preferred Stock, (ii) the Registrable Securities, and (iii)
any other securities issued in respect of the securities referenced in clauses (i) and (ii), upon any stock split, stock
dividend, recapitalization, merger, consolidation, or similar event, shall (unless otherwise permitted by the provisions of Section
2.12(c)) be notated with a legend substantially in the following form:


 


THE
SECURITIES REPRESENTED HEREBY HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933. SUCH SHARES
MAY NOT BE SOLD, PLEDGED, OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR A VALID EXEMPTION FROM THE REGISTRATION AND PROSPECTUS
DELIVERY REQUIREMENTS OF SAID ACT.


 


THE
SECURITIES REPRESENTED HEREBY MAY BE TRANSFERRED ONLY IN ACCORDANCE WITH THE TERMS OF AN AGREEMENT BETWEEN THE COMPANY AND THE STOCKHOLDER,
A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF THE COMPANY.


 


The
Holders consent to the Company making a notation in its records and giving instructions to any transfer agent of the Restricted Securities
in order to implement the restrictions on transfer set forth in this Section 2.12.


 






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(c)
The holder of such Restricted Securities, by acceptance of ownership thereof, agrees to comply in all respects with the provisions of
this Section 2. Before any proposed sale, pledge, or transfer of any Restricted Securities, unless there is in effect a registration
statement under the Securities Act covering the proposed transaction, the Holder thereof shall give notice to the Company of such Holder’s
intention to effect such sale, pledge, or transfer. Each such notice shall describe the manner and circumstances of the proposed sale,
pledge, or transfer in sufficient detail and, if reasonably requested by the Company, shall be accompanied at such Holder’s expense
by either (i) a written opinion of legal counsel who shall, and whose legal opinion shall, be reasonably satisfactory to the Company,
addressed to the Company, to the effect that the proposed transaction may be effected without registration under the Securities Act;
(ii) a “no action” letter from the SEC to the effect that the proposed sale, pledge, or transfer of such Restricted Securities
without registration will not result in a recommendation by the staff of the SEC that action be taken with respect thereto; or (iii)
any other evidence reasonably satisfactory to counsel to the Company to the effect that the proposed sale, pledge, or transfer of the
Restricted Securities may be effected without registration under the Securities Act, whereupon the Holder of such Restricted Securities
shall be entitled to sell, pledge, or transfer such Restricted Securities in accordance with the terms of the notice given by the Holder
to the Company. The Company will not require such a legal opinion or “no action” letter (x) in any transaction in compliance
with SEC Rule 144; or (y) in any transaction in which such Holder distributes Restricted Securities to an Affiliate of such Holder for
no consideration; provided that each transferee agrees in writing to be subject to the terms of this Section 2.12. Each certificate,
instrument, or book entry representing the Restricted Securities transferred as above provided shall be notated with, except if such
transfer is made pursuant to SEC Rule 144, the appropriate restrictive legend set forth in Section 2.12(b), except that such certificate
instrument, or book entry shall not be notated with such restrictive legend if, in the opinion of counsel for such Holder and the Company,
such legend is not required in order to establish compliance with any provisions of the Securities Act.


 


2.13
Termination of Registration Rights. The right of any Holder to request registration or inclusion of Registrable Securities in
any registration pursuant to Sections 2.1 or 2.2 shall terminate upon the earliest to occur of:


 


(a)
the closing of a Deemed Liquidation Event, as such term is defined in the Certificate of Incorporation, in which the consideration received
by the Investors in such Deemed Liquidation Event is in the form of cash and/or publicly traded securities, or if the Investors receive
registration rights from the acquiring company or other successor to the Company reasonably comparable to those set forth in this Section
2;


 


(b)
such time after consummation of the IPO as SEC Rule 144 or another similar exemption under the Securities Act is available for the sale
of all of such Holder’s shares without limitation, during a three (3)-month period without registration (and without the requirement
for the Company to be in compliance with the current public information required under subsection (c)(1) of SEC Rule 144) and such Holder
(together with its “affiliates” determined under SEC Rule 144) holds less than one percent (1%) of the outstanding capital
stock of the Company; and


 


(c)
the fifth (5th) anniversary of the IPO.


 






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	3.	Information
                                            Rights.



 


3.1
Delivery of Financial Statements. The Company shall deliver to each Major Investor, provided that the Board of Directors
has not reasonably determined that such Major Investor is a Competitor of the Company:


 


(a)
as soon as practicable, but in any event within one hundred twenty (120) days after the end of each fiscal year of the Company, beginning
with the fiscal year ending December 31, 2022, (i) an unaudited balance sheet as of the end of such year, (ii) unaudited statements of
income and of cash flows for such year, and (iii) an unaudited statement of stockholders’ equity as of the end of such year;


 


(b)
as soon as practicable, but in any event within forty-five (45) days after the end of each quarter of each fiscal year of the Company,
beginning with the fiscal quarter ending June 30, 2022, unaudited statements of income and cash flows for such fiscal quarter, and an
unaudited balance sheet as of the end of such fiscal quarter, all prepared in accordance with GAAP (except that such financial statements
may (i) be subject to normal year-end audit adjustments; and (ii) not contain all notes thereto that may be required in accordance with
GAAP);


 


(c)
if requested by a Major Investor (up to once per quarter), a statement showing the number of shares of each class and series of capital
stock and securities convertible into or exercisable for shares of capital stock outstanding at the end of the period, the Common Stock
issuable upon conversion or exercise of any outstanding securities convertible or exercisable for Common Stock and the exchange ratio
or exercise price applicable thereto, and the number of shares of issued stock options and stock options not yet issued but reserved
for issuance, if any, all in sufficient detail as to permit the Major Investors to calculate their respective percentage equity ownership
in the Company;


 


(d)
At least fifteen (15) days before the end of each fiscal year, beginning with the fiscal year ending December 31, 2022, an operating
budget for the next fiscal year, prepared on a quarterly basis, forecasting the revenues, expenses, and cash position of the Company;
and


 


(e)
such other information relating to the financial condition, business, prospects, or corporate affairs of the Company as any Major Investor
may from time to time reasonably request; provided, however, that the Company shall not be obligated under this Section
3.1 to provide information (i) that the Company reasonably determines in good faith to be a trade secret or confidential information
(unless covered by an enforceable confidentiality agreement, in a form acceptable to the Company); or (ii) the disclosure of which would
adversely affect the attorney-client privilege between the Company and its counsel.


 


If,
for any period, the Company has any subsidiary whose accounts are consolidated with those of the Company, then in respect of such period
the financial statements delivered pursuant to the foregoing sections shall be the consolidated and consolidating financial statements
of the Company and all such consolidated subsidiaries.


 


Notwithstanding
anything else in this Section 3.1 to the contrary, the Company may cease providing the information set forth in this Section
3.1 during the period starting with the date 45 days before the Company’s good-faith estimate of the date of filing of a registration
statement if it reasonably concludes it must do so to comply with the SEC rules applicable to such registration statement and related
offering; provided that the Company’s covenants under this Section 3.1 shall be reinstated at such time as the Company
is no longer actively employing its commercially reasonable efforts to cause such registration statement to become effective.


 






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3.2 Inspection.
The Company shall permit each Major Investor (provided that the Board of Directors has not reasonably determined that such
Major Investor is a Competitor of the Company), at such Major Investor’s expense, to visit and inspect the Company’s
properties; examine its books of account and records; and discuss the Company’s affairs, finances, and accounts with its
officers, during normal business hours of the Company as may be reasonably requested by the Major Investor; provided, however,
that the Company shall not be obligated pursuant to this Section 3.2 to provide access to any information that it reasonably
and in good faith considers to be a trade secret or confidential information (unless covered by an enforceable confidentiality
agreement, in form acceptable to the Company) or the disclosure of which would adversely affect the attorney-client privilege
between the Company and its counsel.


 


3.3
Termination of Information. The covenants set forth in Section 3.1 and Section 3.2 shall terminate and be of no further
force or effect (i) immediately before the consummation of the IPO or the Reverse Merger, (ii) when the Company first becomes subject
to the periodic reporting requirements of Section 12(g) or 15(d) of the Exchange Act, or (iii) upon the closing of a Deemed Liquidation
Event, whichever event occurs first.


 


3.4
Confidentiality. Each Investor agrees that such Investor will keep confidential and will not disclose, divulge, or use for any
purpose (other than to monitor or make decisions with respect to its investment in the Company) any confidential information obtained
from the Company pursuant to the terms of this Agreement (including notice of the Company’s intention to file a registration statement),
unless such confidential information (a) is known or becomes known to the public in general (other than as a result of a breach of this
Section 1.1 by such Investor),(b) is or has been independently developed or conceived by such Investor without use of the Company’s
confidential information, or (c) is or has been made known or disclosed to such Investor by a third party without a breach of any obligation
of confidentiality such third party may have to the Company; provided, however, that an Investor may disclose confidential
information (i) to its attorneys, accountants, consultants, and other professionals to the extent reasonably necessary to obtain their
services in connection with monitoring its investment in the Company; (ii) to any prospective purchaser of any Registrable Securities
from such Investor, if such prospective purchaser agrees to be bound by the provisions of this Section 1.1; provided that
the Board of Directors has not reasonably determined that such prospective purchaser is a Competitor of the Company; (iii) to any Affiliate,
partner, member, stockholder, or wholly owned subsidiary of such Investor in the ordinary course of business, provided that such
Investor informs such Person that such information is confidential and directs such Person to maintain the confidentiality of such information;
or (iv) as may otherwise be required by law, regulation, rule, court order or subpoena, provided that such Investor promptly notifies
the Company of such disclosure and takes reasonable steps to minimize the extent of any such required disclosure.


 






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3.5
Waiver of Statutory Information Rights. Each Investor hereby acknowledges and agrees that until the consummation of the IPO, such
Investor shall hereby be deemed to have unconditionally and irrevocably, to the fullest extent permitted by law, on behalf of such Investor
and all beneficial owners of the shares of Common Stock or Series A Preferred Stock owned by such Investor (a “Beneficial Owner”),
waived any rights such Investor or a Beneficial Owner might otherwise have had under Section 220 of the Delaware General Corporation
Law (or under similar rights under other applicable law) to inspect for any proper purpose and to make copies and extracts from the Company’s
stock ledger, a list of its stockholders and its other books and records or the books and records of any subsidiary. This waiver applies
only in such Investor’s capacity as a stockholder and does not affect any other information and inspection rights such Investor
may expressly have pursuant to Sections 3.1 and 3.2 of this Agreement. Each Investor hereby further warrants and represents that such
Investor has reviewed this waiver with its legal counsel, and that such Investor knowingly and voluntarily waives its rights otherwise
provided by Section 220 of the Delaware General Corporation Law (or under similar rights under other applicable law).







 


	4.	Rights
                                            to Future Stock Issuances.



 


4.1
Right of First Offer. Subject to the terms and conditions of this Section 4.1 and applicable securities laws, if the Company
proposes to offer or sell any New Securities, the Company shall first offer such New Securities to each Major Investor. A Major Investor
shall be entitled to apportion the right of first offer hereby granted to it in such proportions as it deems appropriate, among (i) itself,
and (ii) its Affiliates.


 


(a)
The Company shall give notice (the “Offer Notice”) to each Major Investor, stating (i) its bona fide intention to
offer such New Securities, (ii) the number of such New Securities to be offered, and (iii) the price and terms, if any, upon which it
proposes to offer such New Securities.


 


(b)
By notification to the Company within twenty (20) days after the Offer Notice is given, each Major Investor may elect to purchase or
otherwise acquire, at the price and on the terms specified in the Offer Notice, up to that portion of such New Securities which equals
the proportion that the Common Stock then held by such Major Investor (including all shares of Common Stock then issuable (directly or
indirectly) upon conversion and/or exercise, as applicable, of the Series A Preferred Stock and any other Derivative Securities then
held by such Major Investor) bears to the total Common Stock of the Company then outstanding (assuming full conversion and/or exercise,
as applicable, of all Series A Preferred Stock and any other Derivative Securities then outstanding). At the expiration of such twenty
(20) day period, the Company shall promptly notify each Major Investor that elects to purchase or acquire all the shares available to
it (each, a “Fully Exercising Investor”) of any other Major Investor’s failure to do likewise. During the ten
(10) day period commencing after the Company has given such notice, each Fully Exercising Investor may, by giving notice to the Company,
elect to purchase or acquire, in addition to the number of shares specified above, up to that portion of the New Securities for which
Major Investors were entitled to subscribe but that were not subscribed for by the Major Investors which is equal to the proportion that
the Common Stock issued and held, or issuable (directly or indirectly) upon conversion and/or exercise, as applicable, of Series A Preferred
Stock and any other Derivative Securities then held, by such Fully Exercising Investor bears to the Common Stock issued and held, or
issuable (directly or indirectly) upon conversion and/or exercise, as applicable, of the Series A Preferred Stock and any other Derivative
Securities then held, by all Fully Exercising Investors who wish to purchase such unsubscribed shares. The closing of any sale pursuant
to this Section 4.1(b) shall occur within the later of ninety (90) days of the date that the Offer Notice is given and the date
of initial sale of New Securities pursuant to Section 4.1(c).


 






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(c)
If all New Securities referred to in the Offer Notice are not elected to be purchased or acquired as provided in Section 4.1(b),
the Company may, during the ninety (90) day period following the expiration of the periods provided in Section 4.1(b), offer and
sell the remaining unsubscribed portion of such New Securities to any Person or Persons at a price not less than, and upon terms no more
favorable to the offeree than, those specified in the Offer Notice. If the Company does not enter into an agreement for the sale of the
New Securities within such period, or if such agreement is not consummated within thirty (30) days of the execution thereof, the right
provided hereunder shall be deemed to be revived and such New Securities shall not be offered unless first reoffered to the Major Investors
in accordance with this Section 4.1.


 


(d)
The right of first offer in this Section 4.1 shall not be applicable to (i) Exempted Securities (as defined in the Certificate of
Incorporation); (ii) shares of Common Stock issued in the IPO; and (iii) the issuance of shares of Series A Preferred Stock to Additional
Purchasers pursuant to Section 1.3 of the Purchase Agreement.


 


4.2
Termination. The covenants set forth in Section 4.1 shall terminate and be of no further force or effect (i) immediately
before the consummation of the IPO or the Reverse Merger, or (ii) upon the closing of a Deemed Liquidation Event, whichever event occurs
first.


 


	5.	Additional
                                            Covenants.



 


5.1
Insurance. The Company shall obtain, within ninety (90) days of the date hereof, from financially sound and reputable insurers
Directors and Officers liability insurance in an amount and on terms and conditions satisfactory to the Board of Directors, and will
use commercially reasonable efforts to cause such insurance policies to be maintained until such time as the Board of Directors determines
that such insurance should be discontinued. The policy shall not be cancelable by the Company without prior approval by the Board of
Directors.


 


5.2
Employee Agreements. Unless otherwise approved by the Board of Directors, the Company will cause each Person now or hereafter
employed by it or by any subsidiary (or engaged by the Company or any subsidiary as a consultant/independent contractor) with access
to confidential information and/or trade secrets to enter into a nondisclosure, proprietary rights assignment and non-solicitation agreement.
In addition, the Company shall not amend, modify, terminate, waive, or otherwise alter, in whole or in part, any of the above-referenced
agreements or any restricted stock agreement between the Company and any employee, without the consent of the Board of Directors.


 






    	19



     


    

 


5.3
Employee Stock. Unless otherwise approved by the Board of Directors, including the approval of at least one Preferred Director,
all future employees of the Company who purchase, receive options to purchase, or receive awards of shares of the Company’s capital
stock after the date hereof shall be required to execute restricted stock or option agreements, as applicable, providing for (i) vesting
of shares over a four (4) year period, with the first twenty-five percent (25%) of such shares vesting following twelve (12) months of
continued employment or service, and the remaining shares vesting in equal monthly installments over the following thirty-six (36) months,
and (ii) a market stand-off provision substantially similar to that in Section 2.11. Without the prior approval by the Board of
Directors, including the approval of at least one Preferred Director, the Company shall not amend, modify, terminate, waive or otherwise
alter, in whole or in part, any stock purchase, stock restriction or option agreement with any existing employee or service provider
if such amendment would cause it to be inconsistent with this Section 5.3. In addition, unless otherwise approved by the Board of
Directors, including the approval of at least one Preferred Director, the Company (x) shall not offer or allow any acceleration of vesting,
and (y) shall retain (and not waive) a “right of first refusal” on employee transfers until the Company’s IPO and shall
have the right to repurchase unvested shares at cost upon termination of employment of a holder of restricted stock.


 


5.4
Qualified Small Business Stock. The Company shall use commercially reasonable efforts to refrain from taking any action that could
reasonably be expected to cause the shares of Series A Preferred Stock, as well as any shares into which such shares are converted, within
the meaning of Section 1202(f) of the Internal Revenue Code (the “Code”), to fail to qualify as “qualified small
business stock” as defined in Section 1202(c) of the Code; provided, however, that such requirement shall not be
applicable if the Board of Directors determines, in its good-faith business judgment, that such qualification is inconsistent with the
best interests of the Company. The Company shall submit to its stockholders (including the Investors) and to the Internal Revenue Service
any reports that may be required under Section 1202(d)(1)(C) of the Code. In addition, within twenty (20) business days after any Investor’s
written request therefor, the Company shall deliver to the Investors a checklist in substantially the same form as Annex 1. The
Company shall use commercially reasonable efforts to ensure the accuracy of any such checklist, but in no event shall the Company be
liable to the Investors or any other person for any damages arising from any errors or inaccuracies in such report or checklist, unless
made by the Company in a manner either grossly negligent or fraudulent.


 


5.5
Right to Conduct Activities. The Company hereby agrees and acknowledges that each of Celesta and Mayfield (together with their
Affiliates) is a professional investment organization, and as such reviews the business plans and related proprietary information of
many enterprises, some of which may compete directly or indirectly with the Company’s business (as currently conducted or as currently
propose to be conducted). Nothing in this Agreement shall preclude or in any way restrict the Investors from evaluating or purchasing
securities, including publicly traded securities, of a particular enterprise, or investing or participating in any particular enterprise
whether or not such enterprise has products or services which compete with those of the Company; and the Company hereby agrees that,
to the extent permitted under applicable law, neither Celesta nor Mayfield (nor their Affiliates) shall be liable to the Company for
any claim arising out of, or based upon, (i) the investment by either Celesta or Mayfield (or their Affiliates) in any entity competitive
with the Company, or (ii) actions taken by any partner, officer, employee or other representative of either Celesta or Mayfield (or their
Affiliates) to assist any such competitive company, whether or not such action was taken as a member of the board of directors of such
competitive company or otherwise, and whether or not such action has a detrimental effect on the Company; provided, however,
that the foregoing shall not relieve (x) any of the Investors from liability associated with the unauthorized disclosure of the Company’s
confidential information obtained pursuant to this Agreement, or (y) any director or officer of the Company from any liability associated
with his or her fiduciary duties to the Company.


 






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5.6
FCPA. The Company covenants that it shall not (and shall not permit any of its subsidiaries or Affiliates or any of its or their
respective directors, officers, managers, employees, independent contractors, representatives or agents to) promise, authorize or make
any payment to, or otherwise contribute any item of value to, directly or indirectly, to any third party, including any Non-U.S. Official
(as such term is defined in the U.S. Foreign Corrupt Practices Act of 1977, as amended (the “FCPA”)), in each case,
in violation of the FCPA, the U.K. Bribery Act, or any other applicable anti-bribery or anti-corruption law. The Company further covenants
that it shall (and shall cause each of its subsidiaries and Affiliates to) cease all of its or their respective activities, as well as
remediate any actions taken by the Company, its subsidiaries or Affiliates, or any of their respective directors, officers, managers,
employees, independent contractors, representatives or agents in violation of the FCPA, the U.K. Bribery Act, or any other applicable
anti-bribery or anti-corruption law. The Company further covenants that it shall (and shall cause each of its subsidiaries and Affiliates
to) maintain systems of internal controls (including, but not limited to, accounting systems, purchasing systems and billing systems)
to ensure compliance with the FCPA, the U.K. Bribery Act, or any other applicable anti-bribery or anti-corruption law. Upon request,
the Company agrees to provide responsive information and/or certifications concerning its compliance with applicable anti-corruption
laws. The Company shall promptly notify each Investor if the Company becomes aware of any Enforcement Action (as defined in the Purchase
Agreement). The Company shall, and shall cause any direct or indirect subsidiary or entity controlled by it, whether now in existence
or formed in the future, to comply with the FCPA. The Company shall use its best efforts to cause any direct or indirect subsidiary,
whether now in existence or formed in the future, to comply in all material respects with all applicable laws.


 


5.7
Board Matters. The Company shall reimburse the nonemployee directors for all reasonable out-of-pocket travel expenses incurred
(consistent with the Company’s travel policy) in connection with attending meetings of the Board of Directors. The director designated
by Celesta shall serve as the Chairman of the Board of Directors. In the event that the Company establishes any committee of the Board
of Directors, such committee shall consist of at least one Preferred Director.


 


5.8
Successor Indemnification. If the Company or any of its successors or assignees consolidates with or merges into any other Person
and is not the continuing or surviving corporation or entity of such consolidation or merger, then to the extent necessary, proper provision
shall be made so that the successors and assignees of the Company assume the obligations of the Company with respect to indemnification
of members of the Board of Directors as in effect immediately before such transaction, whether such obligations are contained in the
Company’s Bylaws, the Certificate of Incorporation, or elsewhere, as the case may be.


 


5.9
Termination of Covenants. The covenants set forth in this Section 5, except for Section 5.8, shall terminate and be
of no further force or effect (i) immediately before the consummation of the IPO or the Reverse Merger, (ii) when the Company first becomes
subject to the periodic reporting requirements of Section 12(g) or 15(d) of the Exchange Act, or (iii) upon a Deemed Liquidation Event,
whichever event occurs first.


 






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	6.	Miscellaneous.



 


6.1
Successors and Assigns. The rights under this Agreement may be assigned (but only with all related obligations) by a Holder to
a transferee of Registrable Securities that (i) is an Affiliate of a Holder; (ii) is a Holder’s Immediate Family Member or trust
for the benefit of an individual Holder or one (1) or more of such Holder’s Immediate Family Members; (iii) is a partnership or
fund managed by such Holder or the director, officer, or partner of such partnership or fund; or (iv) after such transfer, holds at least
one percent (1%) of the total then-outstanding shares of Series A Preferred Stock of the Company (subject to appropriate adjustment for
stock splits, stock dividends, combinations, and other recapitalizations); provided, however, that (x) the Company is,
within a reasonable time after such transfer, furnished with written notice of the name and address of such transferee and the Registrable
Securities with respect to which such rights are being transferred; (y) such transferee agrees in a written instrument delivered to the
Company to be bound by and subject to the terms and conditions of this Agreement, including the provisions of Section 2.11, and the
terms and conditions of the Voting Agreement of even date herewith entered among the Investors, the Company and the other parties named
therein; and (z) such transferee is not a Competitor as reasonably determined by the Board of Directors. For the purposes of determining
the number of shares of Registrable Securities held by a transferee, the holdings of a transferee (1) that is an Affiliate or stockholder
of a Holder; (2) who is a Holder’s Immediate Family Member; or (3) that is a trust for the benefit of an individual Holder or such
Holder’s Immediate Family Member shall be aggregated together and with those of the transferring Holder; provided further
that all transferees who would not qualify individually for assignment of rights shall, as a condition to the applicable transfer, establish
a single attorney-in-fact for the purpose of exercising any rights, receiving notices, or taking any action under this Agreement. The
terms and conditions of this Agreement inure to the benefit of and are binding upon the respective successors and permitted assignees
of the parties. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or
their respective successors and permitted assignees any rights, remedies, obligations or liabilities under or by reason of this Agreement,
except as expressly provided herein.


 


6.2
Governing Law. This Agreement shall be governed by the internal law of the State of Delaware, without regard to conflict of law
principles that would result in the application of any law other than the law of the State of Delaware.


 


6.3
Counterparts. This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original, but all
of which together shall constitute one and the same instrument. Counterparts may be delivered via electronic mail (including pdf or any
electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and
any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.


 


6.4
Titles and Subtitles. The titles and subtitles used in this Agreement are for convenience only and are not to be considered in
construing or interpreting this Agreement.


 






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6.5
Notices.


 


(a)
All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively given
upon the earlier of actual receipt or (i) personal delivery to the party to be notified; (ii) when sent, if sent by electronic mail during
the recipient’s normal business hours, and if not sent during normal business hours, then on the recipient’s next business
day; (iii) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid; or (iv) one
(1) business day after the business day of deposit with a nationally recognized overnight courier, freight prepaid, specifying next-day
delivery, with written verification of receipt. All communications shall be sent to the respective parties at their addresses as set
forth on Schedule A hereto, or (as to the Company) to the principal office of the Company and to the attention of the Chief Executive
Officer, or in any case to such email address or address as subsequently modified by written notice given in accordance with this Section
6.5. If notice is given to the Company, a copy (which copy shall not constitute notice) shall also be sent to Paul Hastings LLP, 1117
S. California Avenue, Palo Alto, CA 94304, Attn: Jeff Hartlin, Email: jeffhartlin@paulhastings.com, and if notice is given to
Investors, a copy (which copy shall not constitute notice) shall also be given to Sage Law Group LLC, 1550 Wewatta Street, Ste. 200,
Denver, CO 80202, Attn.: Rose Standifer, rstandifer@sagelawgroup.com.


 


(b)
Consent to Electronic Notice. Each Investor consents to the delivery of any stockholder notice pursuant to the General Corporation
Law of the State of Delaware (the “DGCL”), as amended or superseded from time to time, by electronic transmission
pursuant to Section 232 of the DGCL (or any successor thereto) at the electronic mail address set forth below such Investor’s name
on the Schedules hereto, as updated from time to time by notice to the Company, or as on the books of the Company. To the extent that
any notice given by means of electronic transmission is returned or undeliverable for any reason, the foregoing consent shall be deemed
to have been revoked until a new or corrected electronic mail address has been provided, and such attempted electronic notice shall be
ineffective and deemed to not have been given. Each Investor agrees to promptly notify the Company of any change in such stockholder’s
electronic mail address, and that failure to do so shall not affect the foregoing.


 


6.6
Amendments and Waivers. Any term of this Agreement may be amended, modified or terminated and the observance of any term of this
Agreement may be waived (either generally or in a particular instance, and either retroactively or prospectively) only with the written
consent of the Company and the holders of at least a majority of the Registrable Securities then outstanding; provided that the
Company may in its sole discretion waive compliance with Section 2.12(c) (and the Company’s failure to object promptly in writing
after notification of a proposed assignment allegedly in violation of Section 2.12(c) shall be deemed to be a waiver); and provided
further that any provision hereof may be waived by any waiving party on such party’s own behalf, without the consent of any
other party. Notwithstanding the foregoing, (a) this Agreement may not be amended, modified or terminated and the observance of any term
hereof may not be waived with respect to any Investor without the written consent of such Investor, unless such amendment, modification,
termination, or waiver applies to all Investors in the same fashion (it being agreed that a waiver of the provisions of Section 4
with respect to a particular transaction shall be deemed to apply to all Investors in the same fashion if such waiver does so by
its terms, notwithstanding the fact that certain Investors may nonetheless, by agreement with the Company, purchase securities in such
transaction) and (b) Sections 3.1 and 3.2, Section 4 and any other section of this Agreement applicable to the Major
Investors (including this clause (b) of this Section 6.6) may be amended, modified, terminated or waived with only the written
consent of the Company and the holders of at least a majority of the Registrable Securities then outstanding and held by the Major Investors.
Notwithstanding the foregoing, Schedule A hereto may be amended by the Company from time to time to add transferees of any Registrable
Securities in compliance with the terms of this Agreement without the consent of the other parties; and Schedule A hereto may
also be amended by the Company after the date of this Agreement without the consent of the other parties to add information regarding
any additional Investor who becomes a party to this Agreement in accordance with Section 6.9. The Company shall give prompt notice
of any amendment, modification or termination hereof or waiver hereunder to any party hereto that did not consent in writing to such
amendment, modification, termination, or waiver. Any amendment, modification, termination, or waiver effected in accordance with this
Section 6.6 shall be binding on all parties hereto, regardless of whether any such party has consented thereto. No waivers of or
exceptions to any term, condition, or provision of this Agreement, in any one (1) or more instances, shall be deemed to be or construed
as a further or continuing waiver of any such term, condition, or provision.


 






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6.7
Severability. In case any one (1) or more of the provisions contained in this Agreement is for any reason held to be invalid,
illegal or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provision of this
Agreement, and such invalid, illegal, or unenforceable provision shall be reformed and construed so that it will be valid, legal, and
enforceable to the maximum extent permitted by law.


 


6.8
Aggregation of Stock; Apportionment. All shares of Registrable Securities held or acquired by Affiliates shall be aggregated together
for the purpose of determining the availability of any rights under this Agreement and such Affiliated Persons may apportion such rights
as among themselves in any manner they deem appropriate.


 


6.9
Additional Investors. Notwithstanding anything to the contrary contained herein, if the Company issues additional shares of Series
A Preferred Stock after the date hereof, pursuant to the Purchase Agreement, any purchaser of such shares of Series A Preferred Stock
may become a party to this Agreement by executing and delivering an additional counterpart signature page to this Agreement, and thereafter
shall be deemed an “Investor” for all purposes hereunder. No action or consent by the Investors shall be required for such
joinder to this Agreement by such additional Investor, so long as such additional Investor has agreed in writing to be bound by all of
the obligations as an “Investor” hereunder.


 


6.10
Entire Agreement. This Agreement (including any Schedules hereto) together with the other Transaction Agreements (as defined in
the Purchase Agreement), constitutes the full and entire understanding and agreement among the parties with respect to the subject matter
hereof, and any other written or oral agreement relating to the subject matter hereof existing between the parties is expressly canceled.


 










6.11
Dispute Resolution. The parties (a) hereby irrevocably and unconditionally submit to the jurisdiction of the state courts of California
and to the jurisdiction of the United States District Court for the Northern District of California for the purpose of any suit, action
or other proceeding arising out of or based upon this Agreement, (b) agree not to commence any suit, action or other proceeding arising
out of or based upon this Agreement except in the state courts of California or the United States District Court for the Northern District
of California, and (c) hereby waive, and agree not to assert, by way of motion, as a defense, or otherwise, in any such suit, action
or proceeding, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt
or immune from attachment or execution, that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the
suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not be enforced in or by such court.


 


WAIVER
OF JURY TRIAL: EACH PARTY HEREBY WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS
AGREEMENT, THE OTHER TRANSACTION AGREEMENTS, THE SECURITIES OR THE SUBJECT MATTER HEREOF OR THEREOF. THE SCOPE OF THIS WAIVER IS INTENDED
TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION,
INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS (INCLUDING NEGLIGENCE), BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND
STATUTORY CLAIMS. THIS SECTION HAS BEEN FULLY DISCUSSED BY EACH OF THE PARTIES HERETO AND THESE PROVISIONS WILL NOT BE SUBJECT TO ANY
EXCEPTIONS. EACH PARTY HERETO HEREBY FURTHER WARRANTS AND REPRESENTS THAT SUCH PARTY HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL,
AND THAT SUCH PARTY KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL.


 


6.12
Delays or Omissions. No delay or omission to exercise any right, power, or remedy accruing to any party under this Agreement,
upon any breach or default of any other party under this Agreement, shall impair any such right, power, or remedy of such nonbreaching
or non-defaulting party, nor shall it be construed to be a waiver of or acquiescence to any such breach or default, or to any similar
breach or default thereafter occurring, nor shall any waiver of any single breach or default be deemed a waiver of any other breach or
default theretofore or thereafter occurring. All remedies, whether under this Agreement or by law or otherwise afforded to any party,
shall be cumulative and not alternative.


 


[Signature
Page Follows]


 




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IN
WITNESS WHEREOF, the parties have executed this Investors’ Rights Agreement as of the date first written above.


 


	 	COMPANY:
	 	 	 
	 	AURADINE,
    INC.
	 	 	 
	 	By:
    	 
	 	Name: 
    	Barun
    Kar
	 	Title:
    	Chief
    Executive Officer





 






    	 



     


    




 


VOTING
AGREEMENT


 


THIS
VOTING AGREEMENT (this “Agreement”) is made and entered into as of April ____, 2022, by and among Auradine, Inc.,
a Delaware corporation (the “Company”), each holder of the Series A-1 Preferred Stock, $0.00001 par value per share,
of the Company (the “Series A-1 Preferred Stock”), Series A-2 Preferred Stock, $0.00001 par value per share, of the
Company (the “Series A-2 Preferred Stock”), Series A-3 Preferred Stock, $0.00001 par value per share, of the Company
(the “Series A-3 Preferred Stock,”), and Series A-4 Preferred Stock, $0.00001 par value per share, of the Company
(the “Series A-4 Preferred Stock,” referred to herein collectively with the Series A-1 Preferred Stock, the Series
A-2 Preferred Stock and the Series A-3 Preferred Stock, as the “Series A Preferred Stock” or “Preferred Stock”)
listed on Schedule A (together with any subsequent investors, or transferees, who become parties hereto as “Investors”
pursuant to Sections 7.1(a) or 7.2 below, the “Investors”), and those certain stockholders of the Company
listed on Schedule B (together with any subsequent stockholders, or any transferees, who become parties hereto as “Key Holders”
pursuant to Section 7.1(b) or 7.2 below, the “Key Holders,” and together collectively with the Investors,
the “Stockholders”).


 


RECITALS


 


A. Concurrently
with the execution of this Agreement, the Company and the Investors are entering into a Series A Preferred Stock Purchase Agreement (the
“Purchase Agreement”) providing for the sale of shares of the Series A Preferred Stock, and in connection with that
agreement the parties desire to provide the Investors with the right, among other rights, to designate the election of certain members
of the board of directors of the Company (the “Board”) in accordance with the terms of this Agreement.


 


B. The
Amended and Restated Certificate of Incorporation of the Company (as the same may be amended and/or restated from time to time, the “Restated
Certificate”) provides that (a) the holders of record of the shares of the Preferred Stock, exclusively and as a separate class,
shall be entitled to elect two (2) directors of the Company (the “Preferred Directors”); (b) the holders of record
of the shares of common stock, $0.00001 par value per share, of the Company (“Common Stock”), exclusively and as a
separate class, shall be entitled to elect three (3) directors of the Company (the “Common Directors”); and (c) the
holders of record of the shares of Common Stock and the Preferred Stock, voting together as a single class on an as converted basis,
shall be entitled to elect the balance of the total number of directors of the Company (the “Mutual Directors”).


 


C. The
parties also desire to enter into this Agreement to set forth their agreements and understandings with respect to how shares of the capital
stock of the Company held by them will be voted on, or tendered, in connection with, an acquisition of the Company and voted on in connection
with an increase in the number of shares of Common Stock required to provide for the conversion of the Preferred Stock.


 






    	 



    	 



    

 


NOW,
THEREFORE, the parties agree as follows:


 


1. Voting
Provisions Regarding the Board.


 


1.1 Shares.
For purposes of this Agreement, the term “Shares” shall mean and include any securities of the Company that the holders
of which are entitled to vote for members of the Board, including, without limitation, all shares of Common Stock and Preferred Stock,
by whatever name called, now owned or subsequently acquired by a Stockholder, however acquired, whether through stock splits, stock dividends,
reclassifications, recapitalizations, similar events or otherwise.


 


1.2 Board
Composition. Each Stockholder agrees to vote, or cause to be voted, all Shares owned by such Stockholder, or over which such Stockholder
has voting control, from time to time and at all times, in whatever manner as shall be necessary to ensure that at each annual or special
meetings of stockholders at which an election of directors is held or pursuant to any written consent of the stockholders, subject to
Section 5, the following persons shall be elected to the Board:


 


(a) As
the first Preferred Director, one person designated from time to time by Celesta Capital IV, L.P. (“Celesta”), (I)
for so long as such Stockholder and its Affiliates (as defined below) continue to own beneficially an aggregate of at least 5,125,942
shares of Common Stock (including shares of Common Stock issued or issuable upon conversion of the Preferred Stock), which number is
subject to appropriate adjustment for any stock splits, stock dividends, combinations, recapitalizations and the like, and (II) provided
that, in the Second Tranche Closing (as defined in the Purchase Agreement), Celesta purchases its entire number of Additional A-4 Shares
(as defined in the Purchase Agreement) set forth opposite Celesta’s name on Exhibit A to the Purchase Agreement) as of the Initial
Closing (as defined in the Purchase Agreement), which individual shall initially be Sriram Viswanathan;


 


(b) As
the second Preferred Director, one person designated from time to time by Mayfield Select II, a Delaware Limited Partnership ( “Mayfield”),
for so long as such Stockholder and its Affiliates continue to own beneficially an aggregate of at least 5,125,942 shares of Common Stock
(including shares of Common Stock issued or issuable upon conversion of the Preferred Stock), which number is subject to appropriate
adjustment for any stock splits, stock dividends, combinations, recapitalizations and the like, and (II) provided that, in the Second
Tranche Closing (as defined in the Purchase Agreement), Mayfield purchases its entire number of Additional A-4 Shares set forth opposite
Mayfield’s name on Exhibit A to the Purchase Agreement) as of the Initial Closing (as defined in the Purchase Agreement), which
individual shall initially be Navin Chaddha;


 


(c) As
a Mutual Director, one person designated from time to time by Marathon Digital Holdings, Inc. (“Marathon”), (I) for
so long as such Stockholder and its Affiliates continue to own beneficially an aggregate of at least, (i) prior to the Second Tranche
Closing (as defined in the Purchase Agreement), 1,888,505 shares of Common Stock (including shares of Common Stock issued or issuable
upon conversion of the Preferred Stock), which number is subject to appropriate adjustment for any stock splits, stock dividends, combinations,
recapitalizations and the like, and (ii) on or following the Second Tranche Closing, ten percent (10%) of the then outstanding capital
stock of the Company, in each case treating for this purpose all shares of Common Stock issuable upon exercise of or conversion of outstanding
options, warrants or convertible securities, as if exercised and/or converted or exchanged, and (II) provided that, in the Second Tranche
Closing (as defined in the Purchase Agreement), Marathon purchases its entire number of Additional A-4 Shares set forth opposite Marathon’s
name on Exhibit A to the Purchase Agreement), which individual shall initially be Fred Thiel;


 






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(d) As
two (2) of the Common Directors, two (2) individuals designated from time to time by the holders of a majority of the shares of Common
Stock held by the Key Holders who are then providing services to the Company as officers, employees or consultants, which individuals
shall initially be (i) Said Ouissal and (ii) Rajiv Khemani (or, if Rajiv Khemani is serving as the Company’s Chief Executive Officer,
Barun Kar); and


 


(e)
As the remaining Common Director, the Company’s Chief Executive Officer, who as of the date of this Agreement is Barun Kar (the
“CEO Director”), provided that if for any reason the CEO Director shall cease to serve as the Chief Executive
Officer of the Company, each of the Stockholders shall promptly vote their respective Shares (i) to remove the former Chief Executive
Officer of the Company from the Board if such person has not resigned as a member of the Board; and (ii) to elect such person’s
replacement as Chief Executive Officer of the Company as the new CEO Director.


 


To
the extent that any of clauses (a) through (e) above shall not be applicable, any member of the Board who would otherwise have been designated
in accordance with the terms thereof shall instead be voted upon by all the Stockholders of the Company entitled to vote thereon in accordance
with, and pursuant to, the Restated Certificate.


 


For
purposes of this Agreement, an individual, firm, corporation, partnership, association, limited liability company, trust or any other
entity (collectively, a “Person”) shall be deemed an “Affiliate” of another Person who, directly
or indirectly, controls, is controlled by or is under common control with such Person, including, without limitation, any general partner,
managing member, officer, director or trustee of such Person, or any venture capital fund or registered investment company now or hereafter
existing that is controlled by one (1) or more general partners, managing members or investment advisers of, or shares the same management
company or investment adviser with, such Person.


 


1.3 Failure
to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director
as specified above, the director previously designated by them and then serving shall be reelected if willing to serve unless such individual
has been removed as provided herein, and otherwise such Board seat shall remain vacant until otherwise filled as provided above.


 


1.4 Removal
of Board Members. Each Stockholder also agrees to vote, or cause to be voted, all Shares owned by such Stockholder, or over which
such Stockholder has voting control, from time to time and at all times, in whatever manner as shall be necessary to ensure that:


 


(a) no
director elected pursuant to Section 1.2 of this Agreement may be removed from office other than for cause unless (i) such removal
is directed or approved by the affirmative vote of the Person(s), or of the holders of at least a majority of the shares of stock, entitled
under Section 1.2 to designate that director; or (ii) the Person(s) originally entitled to designate or approve such director
or occupy such Board seat pursuant to Section 1.2 is no longer so entitled to designate or approve such director or occupy such
Board seat;


 






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(b) any
vacancies created by the resignation, removal or death of a director elected pursuant to Section 1.2 shall be filled pursuant
to the provisions of this Section 1; and


 


(c) upon
the request of any party entitled to designate a director as provided in Section 1.2 to remove such director, such director shall
be removed.


 


All
Stockholders agree to execute any written consents required to perform the obligations of this Section 1, and the Company agrees
at the request of any Person or group entitled to designate directors to call a special meetings of stockholders for the purpose of electing
directors.


 


1.5 No
Liability for Election of Recommended Directors. No Stockholder, nor any Affiliate of any Stockholder, shall have any liability as
a result of designating a person for election as a director for any act or omission by such designated person in his or her capacity
as a director of the Company, nor shall any Stockholder have any liability as a result of voting for any such designee in accordance
with the provisions of this Agreement.


 


2. Vote
to Increase Authorized Common Stock. Each Stockholder agrees to vote or cause to be voted all Shares owned by such Stockholder, or
over which such Stockholder has voting control, from time to time and at all times, in whatever manner as shall be necessary to increase
the number of authorized shares of Common Stock from time to time to ensure that there will be sufficient shares of Common Stock available
for conversion of all of the shares of Preferred Stock outstanding at any given time.


 


3. Drag-Along
Right.


 


3.1 Definitions.
A “Sale of the Company” shall mean either: (a) a transaction or series of related transactions in which a Person,
or a group of related Persons, acquires from stockholders of the Company shares representing more than fifty percent (50%) of the outstanding
voting power of the Company (a “Stock Sale”); (b) a transaction that qualifies as a “Deemed Liquidation Event”
as defined in the Restated Certificate; or (c) the Company’s first underwritten public offering of its Common Stock (other than
a registration statement relating either to the sale of securities to employees of the Company pursuant to its stock option, stock purchase
or similar plan or an SEC Rule 145 transaction) (an “IPO”).


 


3.2 Actions
to be Taken. In the event that (i) the holders of at least a majority of the shares of Preferred Stock (the “Selling Investors”);
(ii) the Board, including at least one Preferred Director; and (iii) the holders of a majority of the then outstanding shares of Common
Stock (other than those issued or issuable upon conversion of the shares of Preferred Stock) held by Key Holders who are then providing
services to the Company as officers, employees or consultants voting as a separate class (collectively, (i)-(iii) are the “Electing
Holders”) approve a Sale of the Company (which approval of the Electing Holders must be in writing), specifying that this Section
3 shall apply to such transaction, then, subject to satisfaction of each of the conditions set forth in Section 3.3 below,
each Stockholder and the Company hereby agree:


 


(a) if
such transaction requires stockholder approval, with respect to all Shares that such Stockholder owns or over which such Stockholder
otherwise exercises voting power, to vote (in person, by proxy or by action by written consent, as applicable) all Shares in favor of,
and adopt, such Sale of the Company (together with any related amendment or restatement to the Restated Certificate required to implement
such Sale of the Company) and to vote in opposition to any and all other proposals that could reasonably be expected to delay or impair
the ability of the Company to consummate such Sale of the Company;


 






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(b) if
such transaction is a Stock Sale, to sell the same proportion of shares of capital stock of the Company beneficially held by such Stockholder
as is being sold by the Selling Investors to the Person to whom the Selling Investors propose to sell their Shares, and, except as permitted
in Section 3.3 below, on the same terms and conditions as the other stockholders of the Company;


 


(c) to
execute and deliver all related documentation and take such other action in support of the Sale of the Company as shall reasonably be
requested by the Company or the Selling Investors in order to carry out the terms and provision of this Section 3, including,
without limitation, executing and delivering instruments of conveyance and transfer, and any purchase agreement, merger agreement, any
associated indemnity agreement, or escrow agreement, any associated voting, support, or joinder agreement, consent, waiver, governmental
filing, share certificates duly endorsed for transfer (free and clear of impermissible liens, claims and encumbrances), and any similar
or related documents;


 


(d) not
to deposit, and to cause their Affiliates not to deposit, except as provided in this Agreement, any Shares of the Company owned by such
party or Affiliate in a voting trust or subject any Shares to any arrangement or agreement with respect to the voting of such Shares,
unless specifically requested to do so by the acquirer in connection with the Sale of the Company;


 


(e) to
refrain from (i) exercising any dissenters’ rights or rights of appraisal under applicable law at any time with respect to such
Sale of the Company, or (ii) asserting any claim or commencing any suit challenging the Sale of the Company or this Agreement, or the
consummation of the transactions contemplated thereby;


 


(f) if
the consideration to be paid in exchange for the Shares pursuant to this Section 3 includes any securities and due receipt thereof
by any Stockholder would require under applicable law (x) the registration or qualification of such securities or of any person as a
broker or dealer or agent with respect to such securities; or (y) the provision to any Stockholder of any information other than such
information as a prudent issuer would generally furnish in an offering made solely to “accredited investors” as defined in
Regulation D promulgated under the Securities Act of 1933, as amended (the “Securities Act”), the Company may cause
to be paid to any such Stockholder in lieu thereof, against surrender of the Shares which would have otherwise been sold by such Stockholder,
an amount in cash equal to the fair value (as determined in good faith by the Board) of the securities which such Stockholder would otherwise
receive as of the date of the issuance of such securities in exchange for the Shares; and


 


(g) in
the event that the Selling Investors, in connection with such Sale of the Company, appoint a stockholder representative (the “Stockholder
Representative”) with respect to matters affecting the Stockholders under the applicable definitive transaction agreements
following consummation of such Sale of the Company, (x) to consent to (i) the appointment of such Stockholder Representative, (ii) the
establishment of any applicable escrow, expense or similar fund in connection with any indemnification or similar obligations, and (iii)
the payment of such Stockholder’s pro rata portion (from the applicable escrow or expense fund or otherwise) of any and all reasonable
fees and expenses to such Stockholder Representative in connection with such Stockholder Representative’s services and duties in
connection with such Sale of the Company and its related service as the representative of the Stockholders, and (y) not to assert any
claim or commence any suit against the Stockholder Representative or any other Stockholder with respect to any action or inaction taken
or failed to be taken by the Stockholder Representative, within the scope of the Stockholder Representative’s authority, in connection
with its service as the Stockholder Representative, absent fraud, bad faith, gross negligence or willful misconduct.


 






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3.3 Conditions.
Notwithstanding anything to the contrary set forth herein, a Stockholder will not be required to comply with Section 3.2 above
in connection with any proposed Sale of the Company (the “Proposed Sale”), unless:


 


(a) any
representations and warranties to be made by such Stockholder in connection with the Proposed Sale are limited to representations and
warranties related to authority, ownership and the ability to convey title to such Shares, including, but not limited to, representations
and warranties that (i) the Stockholder holds all right, title and interest in and to the Shares such Stockholder purports to hold, free
and clear of all liens and encumbrances, (ii) the obligations of the Stockholder in connection with the transaction have been duly authorized,
if applicable, (iii) the documents to be entered into by the Stockholder have been duly executed by the Stockholder and delivered to
the acquirer and are enforceable (subject to customary limitations) against the Stockholder in accordance with their respective terms;
and (iv) neither the execution and delivery of documents to be entered into by the Stockholder in connection with the transaction, nor
the performance of the Stockholder’s obligations thereunder, will cause a breach or violation of the terms of any agreement to
which the Stockholder is a party, or any law or judgment, order or decree of any court or governmental agency that applies to the Stockholder;


 


(b) such
Stockholder is not required to agree (unless such Stockholder is a Company officer or employee) to any restrictive covenant in connection
with the Proposed Sale (including, without limitation, any covenant not to compete or covenant not to solicit customers, employees or
suppliers of any party to the Proposed Sale) or any release of claims other than a release in customary
form of claims arising solely in such Stockholder’s capacity as a stockholder of the Company;


 


(c) such
Stockholder and its Affiliates are not required to amend, extend or terminate any contractual or other relationship with the Company,
the acquirer or their respective Affiliates, except that the Stockholder may be required to agree to terminate the investment-related
documents between or among such Stockholder, the Company and/or other stockholders of the Company;


 


(d) the
Stockholder is not liable for the breach of any representation, warranty or covenant made by any other Person in connection with the
Proposed Sale, other than the Company (except to the extent that funds may be paid out of an escrow established to cover breach of representations,
warranties and covenants of the Company as well as breach by any stockholder of any of identical representations, warranties and covenants
provided by all stockholders);


 






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(e)
liability shall be limited to such Stockholder’s applicable share (determined based on the respective proceeds payable to each
Stockholder in connection with such Proposed Sale in accordance with the provisions of the Restated Certificate) of a negotiated aggregate
indemnification amount that applies equally to all Stockholders but that in no event exceeds the amount of consideration otherwise payable
to such Stockholder in connection with such Proposed Sale, except with respect to claims related to fraud by such Stockholder, the liability
for which need not be limited as to such Stockholder;


 


(f)
upon the consummation of the Proposed Sale (i) each holder of each class or series of the capital stock of the Company will receive the
same form of consideration for their shares of such class or series as is received by other holders in respect of their shares of such
same class or series of stock, (ii) each holder of a series of Preferred Stock will receive the same amount of consideration per share
of such series of Preferred Stock as is received by other holders in respect of their shares of such same series, (iii) each holder of
Common Stock will receive the same amount of consideration per share of Common Stock as is received by other holders in respect of their
shares of Common Stock, and (iv) unless waived pursuant to the terms of the Restated Certificate and as may be required by law, the aggregate
consideration receivable by all holders of the Preferred Stock and Common Stock shall be allocated among the holders of Preferred Stock
and Common Stock on the basis of the relative liquidation preferences to which the holders of each respective series of Preferred Stock
and the holders of Common Stock are entitled in a Deemed Liquidation Event (assuming for this purpose that the Proposed Sale is a Deemed
Liquidation Event) in accordance with the Company’s Restated Certificate in effect immediately prior to the Proposed Sale; provided,
however, that, notwithstanding the foregoing provisions of this Section 3.3(f), if the consideration to be paid
in exchange for the Shares held by the Key Holder or Investor, as applicable, pursuant to this Section 3.3(f) includes any securities
and due receipt thereof by any Key Holder or Investor would require under applicable law (x) the registration or qualification of such
securities or of any person as a broker or dealer or agent with respect to such securities; or (y) the provision to any Key Holder or
Investor of any information other than such information as a prudent issuer would generally furnish in an offering made solely to “accredited
investors” as defined in Regulation D promulgated under the Securities Act, the Company may cause to be paid to any such Key Holder
or Investor in lieu thereof, against surrender of the Shares held by the Key Holder or Investor, as applicable, which would have otherwise
been sold by such Key Holder or Investor, an amount in cash equal to the fair value (as determined in good faith by the Board) of the
securities which such Key Holder or Investor would otherwise receive as of the date of the issuance of such securities in exchange for
the Shares held by the Key Holder or Investor, as applicable;




 


(g) subject
to clause (f) above, requiring the same form of consideration to be available to the holders of any single class or series of
capital stock, if any holders of any capital stock of the Company are given an option as to the form and amount of consideration to be
received as a result of the Proposed Sale, all holders of such capital stock will be given the same option; provided, however,
that nothing in this Section 3.3(g) shall entitle any holder to receive any form of consideration that such holder would be ineligible
to receive as a result of such holder’s failure to satisfy any condition, requirement or limitation that is generally applicable
to the Company’s stockholders.


 






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3.4 Restrictions
on Sales of Control of the Company. No Stockholder shall be a party to any Stock Sale unless (a) all holders of Preferred Stock are
allowed to participate in such transaction(s) and (b) the consideration received pursuant to such transaction is allocated among the
parties thereto in the manner specified in the Company’s Restated Certificate in effect immediately prior to the Stock Sale (as
if such transaction(s) were a Deemed Liquidation Event), unless the holders of at least the requisite percentage required to waive treatment
of the transaction(s) as a Deemed Liquidation Event pursuant to the terms of the Restated Certificate, elect to allocate the consideration
differently by written notice given to the Company at least ten (10) days prior to the effective date of any such transaction or series
of related transactions.


 


4. Remedies.


 


4.1 Covenants
of the Company. The Company agrees to use its best efforts, within the requirements of applicable law, to ensure that the rights
granted under this Agreement are effective and that the parties enjoy the benefits of this Agreement. Such actions include, without limitation,
the use of the Company’s best efforts to cause the nomination and election of the directors as provided in this Agreement.


 


4.2 Irrevocable
Proxy and Power of Attorney. Each party to this Agreement hereby constitutes and appoints as the proxies of the party and hereby
grants a power of attorney to the Chief Executive Officer of the Company, and a designee of the Selling Investors, and each of them,
with full power of substitution, with respect to the matters set forth herein, including, without limitation, votes regarding the size
and composition of the Board pursuant to Section 1, votes to increase authorized shares pursuant to Section 2 hereof and
votes regarding any Sale of the Company pursuant to Section 3 hereof, and hereby authorizes each of them to represent and vote,
if and only if the party (i) fails to vote, or (ii) attempts to vote (whether by proxy, in person or by written consent), in a manner
which is inconsistent with the terms of this Agreement, all of such party’s Shares in favor of the election of persons as members
of the Board determined pursuant to and in accordance with the terms and provisions of this Agreement or the increase of authorized shares
or approval of any Sale of the Company pursuant to and in accordance with the terms and provisions of this Agreement or to take any action
reasonably necessary to effect this Agreement. The power of attorney granted hereunder shall authorize the Chief Executive Officer of
the Company to execute and deliver the documentation referred to in Section 3.2(c) on behalf of any party failing to do so within
five (5) business days of a request by the Company. Each of the proxy and power of attorney granted pursuant to this Section 4.2
is given in consideration of the agreements and covenants of the Company and the parties in connection with the transactions contemplated
by this Agreement and, as such, each is coupled with an interest and shall be irrevocable unless and until this Agreement terminates
or expires pursuant to Section 6 hereof. Each party hereto hereby revokes any and all previous proxies or powers of attorney with
respect to the Shares (except as provided in the Purchase Agreement) and shall not hereafter, unless and until this Agreement terminates
or expires pursuant to Section 6 hereof, purport to grant any other proxy or power of attorney with respect to any of the Shares
(except as provided in the Purchase Agreement), deposit any of the Shares into a voting trust or enter into any agreement (other than
this Agreement), arrangement or understanding with any person, directly or indirectly, to vote, grant any proxy or give instructions
with respect to the voting of any of the Shares, in each case, with respect to any of the matters set forth herein.


 






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4.3 Specific
Enforcement. Each party acknowledges and agrees that each party hereto will be irreparably damaged in the event any of the provisions
of this Agreement are not performed by the parties in accordance with their specific terms or are otherwise breached. Accordingly, it
is agreed that each of the Company and the Stockholders shall be entitled to an injunction to prevent breaches of this Agreement, and
to specific enforcement of this Agreement and its terms and provisions in any action instituted in any court of the United States or
any state having subject matter jurisdiction.


 


4.4 Remedies
Cumulative. All remedies, either under this Agreement or by law or otherwise afforded to any party, shall be cumulative and not alternative.


 


5. “Bad
Actor” Matters.


 


5.1 Definitions.
For purposes of this Agreement:


 


(a) “Company
Covered Person” means, with respect to the Company as an “issuer” for purposes of Rule 506 promulgated under the
Securities Act, any Person listed in the first paragraph of Rule 506(d)(1).


 


(b) “Disqualified
Designee” means any director designee to whom any Disqualification Event is applicable, except for a Disqualification Event
as to which Rule 506(d)(2)(ii) or (iii) or (d)(3) is applicable.


 


(c) “Disqualification
Event” means a “bad actor” disqualifying event described in Rule 506(d)(1)(i)-(viii) promulgated under the Securities
Act.


 


(d) “Rule
506(d) Related Party” means, with respect to any Person, any other Person that is a beneficial owner of such first Person’s
securities for purposes of Rule 506(d) under the Securities Act.


 


5.2 Representations.


 


(a) Each
Person with the right to designate or participate in the designation of a director pursuant to this Agreement hereby represents that
(i) such Person has exercised reasonable care to determine whether any Disqualification Event is applicable to such Person, any director
designee designated by such Person pursuant to this Agreement or any of such Person’s Rule 506(d) Related Parties, except, if applicable,
for a Disqualification Event as to which Rule 506(d)(2)(ii) or (iii) or (d)(3) is applicable and (ii) no Disqualification Event is applicable
to such Person, any Board member designated by such Person pursuant to this Agreement or any of such Person’s Rule 506(d) Related
Parties, except, if applicable, for a Disqualification Event as to which Rule 506(d)(2)(ii) or (iii) or (d)(3) is applicable. Notwithstanding
anything to the contrary in this Agreement, each Investor makes no representation regarding any Person that may be deemed to be a beneficial
owner of the Company’s voting equity securities held by such Investor solely by virtue of that Person being or becoming a party
to (x) this Agreement, as may be subsequently amended, or (y) any other contract or written agreement to which the Company and such Investor
are parties regarding (1) the voting power, which includes the power to vote or to direct the voting of, such security; and/or (2) the
investment power, which includes the power to dispose, or to direct the disposition of, such security.


 






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(b) The
Company hereby represents and warrants to the Investors that no Disqualification Event is applicable to the Company or, to the Company’s
knowledge, any Company Covered Person, except for a Disqualification Event as to which Rule 506(d)(2)(ii)-(iv) or (d)(3) is applicable.


 


5.3 Covenants.
Each Person with the right to designate or participate in the designation of a director pursuant to this Agreement covenants and agrees
(i) not to designate or participate in the designation of any director designee who, to such Person’s knowledge, is a Disqualified
Designee, (ii) to exercise reasonable care to determine whether any director designee designated by such person is a Disqualified Designee,
(iii) that in the event such Person becomes aware that any individual previously designated by any such Person is or has become a Disqualified
Designee, such Person shall as promptly as practicable take such actions as are necessary to remove such Disqualified Designee from the
Board and designate a replacement designee who is not a Disqualified Designee, and (iv) to notify the Company promptly in writing in
the event a Disqualification Event becomes applicable to such Person or any of its Rule 506(d) Related Parties, or, to such Person’s
knowledge, to such Person’s initial designee named in Section 1, except, if applicable, for a Disqualification Event as
to which Rule 506(d)(2)(ii) or (iii) or (d)(3) is applicable.


 


6. Term.
This Agreement shall be effective as of the date hereof and shall continue in effect until and shall terminate upon the earliest to occur
of (a) the consummation of the IPO or the Reverse Merger (as defined below); (b) the consummation of a Sale of the Company and distribution
of proceeds to or escrow for the benefit of the Stockholders in accordance with the Restated Certificate, provided that the provisions
of Section 3 hereof will continue after the closing of any Sale of the Company to the extent necessary to enforce the provisions
of Section 3 with respect to such Sale of the Company; (c) termination of this Agreement in accordance with Section 7.8
below. For purposes of this Section 6, “Reverse Merger” means the merger of the Company with a company whose
shares are registered under the Securities Exchange Act of 1934, as amended, and whose shares are listed for traded on a securities exchange
(an “Acquiror”), or a merger with an affiliate of such Acquiror.


 


7. Miscellaneous.


 


7.1 Additional
Parties.


 


(a) Notwithstanding
anything to the contrary contained herein, if the Company issues additional shares of Preferred Stock after the date hereof, as a condition
to the issuance of such shares the Company shall require that any purchaser of such shares become a party to this Agreement by executing
and delivering (i) the Adoption Agreement attached to this Agreement as Exhibit A, or (ii) a counterpart signature page hereto
agreeing to be bound by and subject to the terms of this Agreement as an Investor and Stockholder hereunder. In either event, each such
person shall thereafter be deemed an Investor and Stockholder for all purposes under this Agreement.


 






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(b) In
the event that (i) after the date of this Agreement but prior to the Second Tranche Closing, the Company enters into an agreement with
any Person to issue shares of capital stock to such Person (other than to a purchaser of Preferred Stock described in Section 7.1(a)
above), following which such Person shall hold Shares constituting 3.5% or more of the then outstanding capital stock of the Company
(treating for this purpose all shares of Common Stock issuable upon exercise of or conversion of outstanding options, warrants or convertible
securities, as if exercised and/or converted or exchanged), or (ii) after the date of the Second Tranche Closing, the Company enters
into an agreement with any Person to issue shares of capital stock to such Person (other than to a purchaser of Preferred Stock described
in Section 7.1(a) above), following which such Person shall hold Shares constituting 2.5% or more of the then outstanding capital
stock of the Company (treating for this purpose all shares of Common Stock issuable upon exercise of or conversion of outstanding options,
warrants or convertible securities, as if exercised and/or converted or exchanged), then, the Company shall cause such Person, as a condition
precedent to entering into such agreement, to become a party to this Agreement by executing an Adoption Agreement in the form attached
hereto as Exhibit A, agreeing to be bound by and subject to the terms of this Agreement as a Key Holder and Stockholder and thereafter
such person shall be deemed a Stockholder for all purposes under this Agreement.


 


7.2 Transfers.
Each transferee or assignee of any Shares subject to this Agreement shall continue to be subject to the terms hereof, and, as a condition
precedent to the Company’s recognition of such transfer, each transferee or assignee shall agree in writing to be subject to each
of the terms of this Agreement by executing and delivering an Adoption Agreement substantially in the form attached hereto as Exhibit
A. Upon the execution and delivery of an Adoption Agreement by any transferee, such transferee shall be deemed to be a party hereto
as if such transferee were the transferor and such transferee’s signature appeared on the signature pages of this Agreement and
shall be deemed to be an Investor and Stockholder, or Key Holder and Stockholder, as applicable. The Company shall not permit the transfer
of the Shares subject to this Agreement on its books or issue a new certificate representing any such Shares unless and until such transferee
shall have complied with the terms of this Section 7.2. Each certificate instrument, or book entry representing the Shares subject
to this Agreement if issued on or after the date of this Agreement shall be notated by the Company with the legend set forth in Section
7.12.


 


7.3 Successors
and Assigns. The terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors
and assigns of the parties. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties
hereto or their respective successors and assigns any rights, remedies, obligations, or liabilities under or by reason of this Agreement,
except as expressly provided in this Agreement.


 


7.4 Governing
Law. This Agreement shall be governed by the internal law of the State of Delaware, without regard to conflict of law principles
that would result in the application of any law other than the law of the State of Delaware.


 


7.5 Counterparts.
This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original, but all of which together
shall constitute one and the same instrument. Counterparts may be delivered via electronic mail (including pdf or any electronic signature
complying with the U.S. ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and any counterpart so delivered
shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.


 


7.6 Titles
and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing
or interpreting this Agreement.


 






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7.7 Notices.


 


(a) General.
All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively given
upon the earlier of actual receipt or (a) personal delivery to the party to be notified, (b) when sent, if sent by electronic mail during
normal business hours of the recipient, and if not sent during normal business hours, then on the recipient’s next business day,
(c) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one (1) business
day after the business day of deposit with a nationally recognized overnight courier, freight prepaid, specifying next business day delivery,
with written verification of receipt. All communications shall be sent to the respective parties at their address as set forth on Schedule
A or Schedule B hereto, or (as to the Company) to the principal office of the Company and to the attention of the Chief Executive
Officer, or, in any case, to such e-mail address or address as subsequently modified by written notice given in accordance with this
Section 7.7. If notice is given to the Company, a copy (which copy shall not constitute notice) shall also be sent to Paul Hastings
LLP, 1117 S. California Avenue, Palo Alto CA 94304, Attention: Jeff Hartlin, and if notice is given to Stockholders, a copy (which
copy shall not constitute notice) shall also be given to Sage Law Group LLC, 1550 Wewatta Street, Suite 200, Denver, CO 80202, Attn:
Rose Standifer, Email: rstandifer@sagelawgroup.com.


 


(b) Consent
to Electronic Notice. Each Investor and Key Holder consents to the delivery of any stockholder notice pursuant to the General Corporation
Law of the State of Delaware (the “DGCL”), as amended or superseded from time to time, by electronic transmission
pursuant to Section 232 of the DGCL (or any successor thereto) at the electronic mail address set forth below such Investor’s or
Key Holder’s name on the Schedules hereto, as updated from time to time by notice to the Company, or as on the books of the Company.
To the extent that any notice given by means of electronic transmission is returned or undeliverable for any reason, the foregoing consent
shall be deemed to have been revoked until a new or corrected electronic mail address has been provided, and such attempted electronic
notice shall be ineffective and deemed to not have been given. Each Investor and Key Holder agrees to promptly notify the Company of
any change in its electronic mail address, and that failure to do so shall not affect the foregoing.


 


7.8 Consent
Required to Amend, Modify, Terminate or Waive. This Agreement may be amended, modified or terminated (other than pursuant to Section
6) and the observance of any term hereof may be waived (either generally or in a particular instance and either retroactively or
prospectively) only by a written instrument executed by (a) the Company; (b) the Key Holders holding a majority of the Shares then held
by the Key Holders who are then providing services to the Company as officers, employees or consultants; and (c) the holders of a majority
of the shares of Common Stock issued or issuable upon conversion of the shares of Preferred Stock held by the Investors (voting together
as a single class). Notwithstanding the foregoing:


 


(a) this
Agreement may not be amended, modified or terminated and the observance of any term of this Agreement may not be waived with respect
to any Investor or Key Holder without the written consent of such Investor or Key Holder unless such amendment, modification, termination
or waiver applies to all Investors or Key Holders, as the case may be, in the same fashion;


 






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(b) the
provisions of Section 1.2(a) and this Section 7.8(b) may not be amended, modified, terminated or waived without the written
consent of Celesta;


 


(c) the
provisions of Section 1.2(b) and this Section 7.8(c) may not be amended, modified, terminated or waived without the written
consent of Mayfield;


 


(d) the
provisions of Section 1.2(c) and this Section 7.8(d) may not be amended, modified, terminated or waived without the written
consent of Marathon;


 


(e) the
consent of the Key Holders shall not be required for any amendment, modification, termination or waiver if such amendment, modification,
termination, or waiver either (A) is not directly applicable to the rights of the Key Holders hereunder; or (B) does not adversely affect
the rights of the Key Holders in a manner that is different than the effect on the rights of the other parties hereto;


 


(f) Schedule
A and Schedule B hereto may be amended by the Company from time to time in accordance with (i) the Purchase Agreement to add
information regarding additional Purchasers (as defined in the Purchase Agreement), or (ii) Sections 7.1 and 7.2 to add information
about additional parties or permitted transferees, without the consent of the other parties hereto; and


 


(g) any
provision hereof may be waived by the waiving party on such party’s own behalf, without the consent of any other party.


 


The
Company shall give prompt written notice of any amendment, modification, termination, or waiver hereunder to any party that did not consent
in writing thereto. Any amendment, modification, termination, or waiver effected in accordance with this Section 7.8 shall be
binding on each party and all of such party’s successors and permitted assigns, whether or not any such party, successor or assignee
entered into or approved such amendment, modification, termination or waiver. For purposes of this Section 7.8, the requirement
of a written instrument may be satisfied in the form of an action by written consent of the Stockholders circulated by the Company and
executed by the Stockholder parties specified, whether or not such action by written consent makes explicit reference to the terms of
this Agreement.


 


7.9 Delays
or Omissions. No delay or omission to exercise any right, power or remedy accruing to any party under this Agreement, upon any breach
or default of any other party under this Agreement, shall impair any such right, power or remedy of such non-breaching or non-defaulting
party nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach
or default thereafter occurring; nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default
previously or thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of any party of any
breach or default under this Agreement, or any waiver on the part of any party of any provisions or conditions of this Agreement, must
be in writing and shall be effective only to the extent specifically set forth in such writing. All remedies, either under this Agreement
or by law or otherwise afforded to any party, shall be cumulative and not alternative.


 


7.10 Severability.
The invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability of any other provision.


 






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7.11 Entire
Agreement. This Agreement (including the Exhibits hereto), the Restated Certificate and the other Transaction Agreements (as defined
in the Purchase Agreement) constitute the full and entire understanding and agreement between the parties with respect to the subject
matter hereof, and any other written or oral agreement relating to the subject matter hereof existing between the parties is expressly
canceled.


 


7.12 Share
Certificate Legend. Each certificate, instrument, or book entry representing any Shares issued after the date hereof shall be notated
by the Company with a legend reading substantially as follows:


 


“The
Shares REPRESENTED hereby are subject to a Voting Agreement, AS MAY BE AMENDED FROM TIME TO TIME (a copy of which may be obtained upon
written request from the Company), and by accepting any interest in such Shares the person accepting such interest shall be deemed to
agree to and shall become bound by all the provisions of that Voting Agreement, including certain restrictions on transfer and ownership
set forth therein.”


 


The
Company, by its execution of this Agreement, agrees that it will cause the certificates, instruments, or book entry evidencing the Shares
issued after the date hereof to be notated with the legend required by this Section 7.12 of this Agreement, and it shall supply,
free of charge, a copy of this Agreement to any holder of such Shares upon written request from such holder to the Company at its principal
office. The parties to this Agreement do hereby agree that the failure to cause the certificates, instruments, or book entry evidencing
the Shares to be notated with the legend required by this Section 7.12 herein and/or the failure of the Company to supply, free
of charge, a copy of this Agreement as provided hereunder shall not affect the validity or enforcement of this Agreement.


 


7.13 Stock
Splits, Dividends and Recapitalizations. In the event of any issuance of Shares or the voting securities of the Company hereafter
to any of the Stockholders (including, without limitation, in connection with any stock split, stock dividend, recapitalization, reorganization,
or the like), such Shares shall become subject to this Agreement and shall be notated with the legend set forth in Section 7.12.


 


7.14 Manner
of Voting. The voting of Shares pursuant to this Agreement may be effected in person, by proxy, by written consent or in any other
manner permitted by applicable law. For the avoidance of doubt, voting of the Shares pursuant to the Agreement need not make explicit
reference to the terms of this Agreement.


 


7.15 Further
Assurances. At any time or from time to time after the date hereof, the parties agree to cooperate with each other, and at the request
of any other party, to execute and deliver any further instruments or documents and to take all such further action as the other party
may reasonably request in order to carry out the intent of the parties hereunder.


 






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7.16 Dispute
Resolution. The parties (a) hereby irrevocably and unconditionally submit to the jurisdiction of the state courts of California and
to the jurisdiction of the United States District Court for the Northern District of California for the purpose of any suit, action or
other proceeding arising out of or based upon this Agreement, (b) agree not to commence any suit, action or other proceeding arising
out of or based upon this Agreement except in the state courts of California or the United States District Court for the Northern District
of California, and (c) hereby waive, and agree not to assert, by way of motion, as a defense, or otherwise, in any such suit, action
or proceeding, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt
or immune from attachment or execution, that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the
suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not be enforced in or by such court.


 


Waiver
of Jury Trial: EACH PARTY HEREBY WAIVES ITS RIGHTS TO
A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT, THE OTHER TRANSACTION DOCUMENTS, THE SECURITIES
OR THE SUBJECT MATTER HEREOF OR THEREOF. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY
BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT
CLAIMS (INCLUDING NEGLIGENCE), BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. THIS SECTION HAS BEEN FULLY DISCUSSED
BY EACH OF THE PARTIES HERETO AND THESE PROVISIONS WILL NOT BE SUBJECT TO ANY EXCEPTIONS. EACH PARTY HERETO HEREBY FURTHER WARRANTS AND
REPRESENTS THAT SUCH PARTY HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL, AND THAT SUCH PARTY KNOWINGLY AND VOLUNTARILY WAIVES ITS
JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL.


 


7.17 Costs
of Enforcement. If any party to this Agreement seeks to enforce its rights under this Agreement by legal proceedings, the non-prevailing
party shall pay all costs and expenses incurred by the prevailing party, including, without limitation, all reasonable attorneys’
fees.


 


7.18 Aggregation
of Stock. All Shares held or acquired by a Stockholder and/or its Affiliates shall be aggregated together for the purpose of determining
the availability of any rights under this Agreement, and such Affiliated persons may apportion such rights as among themselves in any
manner they deem appropriate.


 


[Signature
Page Follows]


 




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IN
WITNESS WHEREOF, the parties have executed this Voting Agreement as of the date first written above.


 


	COMPANY:	AURADINE, INC.
	 	 	 
	 	By:	 
	 	Name: 	Barun Kar
	 	Title:	Chief Executive Officer


 


SIGNATURE PAGE TO VOTING AGREEMENT


 




    	 



    	 



    

  


 EXHIBIT
A


 


ADOPTION
AGREEMENT


 


This
Adoption Agreement (“Adoption Agreement”) is executed on ___________________, 20__, by the undersigned (the “Holder”)
pursuant to the terms of that certain Voting Agreement dated as of April ___, 2022 (the “Agreement”), by and among
the Company and certain of its Stockholders, as such Agreement may be amended or amended and restated hereafter. Capitalized terms used
but not defined in this Adoption Agreement shall have the respective meanings ascribed to such terms in the Agreement. By the execution
of this Adoption Agreement, the Holder agrees as follows:


 


1.1 Acknowledgement.
Holder acknowledges that Holder is acquiring certain shares of the capital stock of the Company (the “Stock”), for
one of the following reasons (Check the correct box):


 


☐ As
a transferee of Shares from a party in such party’s capacity as an “Investor” bound by the Agreement, and after such
transfer, Holder shall be considered an “Investor” and a “Stockholder” for all purposes of the Agreement.


 


☐ As
a transferee of Shares from a party in such party’s capacity as a “Key Holder” bound by the Agreement, and after such
transfer, Holder shall be considered a “Key Holder” and a “Stockholder” for all purposes of the Agreement. 


 


☐ As
a new “Investor” in accordance with Section 7.1(a) of the Agreement, in which case Holder will be an “Investor”
and a “Stockholder” for all purposes of the Agreement.


 


☐ In
accordance with Section 7.1(b) of the Agreement, as a new party who is not a new “Investor,” in which case Holder
will be a “Stockholder” for all purposes of the Agreement.


 


1.2 Agreement.
Holder hereby (a) agrees that the Stock, and any other shares of capital stock or securities required by the Agreement to be bound thereby,
shall be bound by and subject to the terms of the Agreement and (b) adopts the Agreement with the same force and effect as if Holder
were originally a party thereto.


 


1.3 Notice.
Any notice required or permitted by the Agreement shall be given to Holder at the address or facsimile number listed below Holder’s
signature hereto.


 


	HOLDER:	 	ACCEPTED AND AGREED:
	 	 	 	 	 
	By:	 	 	AURADINE, INC. 
	Name: 	 	 	 	 
	Title:	 	 	 	 
	Address:	 	 	By:
    	           
	 	 	 	Name:	 
	E-mail Address:	 	 	Title: