Exhibit 10.1


 


Execution Version


 





COMMON STOCK PURCHASE AGREEMENT



 


Dated as of November 21, 2022


 


by and between


 


ACE CONVERGENCE ACQUISITION CORP.


 


and


 


WHITE
LION CAPITAL, LLC


 






    	 		 



     


    

 


TABLE
OF CONTENTS


 


	Article I DEFINITIONS	2
	Article II PURCHASE AND SALE OF COMMON STOCK	2
	Section 2.1	Purchase and Sale of Stock	2
	Section 2.2	Closing Date; Settlement Dates	2
	Section 2.3	Initial Public Announcements and Required Filings	2
	Article III PURCHASE TERMS	3
	Section 3.1	Purchases	3
	Section 3.2	Settlement	3
	Section 3.3	Compliance with Rules of Principal Market	4
	Section 3.4	Beneficial Ownership Limitation	5
	Article IV REPRESENTATIONS, WARRANTIES AND COVENANTS
    OF THE INVESTOR	5
	Section 4.1	Organization and Standing of the Investor	5
	Section 4.2	Authorization and Power	6
	Section 4.3	No Conflicts	6
	Section 4.4	Investment Purpose	6
	Section 4.5	Accredited Investor Status	7
	Section 4.6	Reliance on Exemptions	7
	Section 4.7	Information	7
	Section 4.8	No Governmental Review	7
	Section 4.9	No General Solicitation	7
	Section 4.10	Not an Affiliate	8
	Section 4.11	No Prior Short Sales	8
	Section 4.12	Statutory Underwriter Status	8
	Section 4.13	Resales of Shares	8
	Section 4.14	Primary Place of Business	8
	Article V REPRESENTATIONS, WARRANTIES AND COVENANTS
    OF THE COMPANY	8
	Section 5.1	Organization, Good Standing and Power	8
	Section 5.2	Authorization, Enforcement	9
	Section 5.3	Capitalization	9
	Section 5.4	Issuance of Shares	10
	Section 5.5	No Conflicts	10



 






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	Section 5.6	SEC Documents, Financial Statements; Disclosure Controls and Procedures;
    Internal Controls Over Financial Reporting; Accountants	11
	Section 5.7	Subsidiaries	12
	Section 5.8	No Material Adverse Effect; Absence of Certain Changes	13
	Section 5.9	No Material Defaults	13
	Section 5.10	Material Contracts	13
	Section 5.11	Solvency	13
	Section 5.12	Real Property; Other Property	13
	Section 5.13	Actions Pending	14
	Section 5.14	Compliance with Law	14
	Section 5.15	Certain Fees	14
	Section 5.16	Disclosure	14
	Section 5.17	Operation of Business	14
	Section 5.18	Environmental Compliance	15
	Section 5.19	No Improper Practices	16
	Section 5.20	Transactions With Affiliates	16
	Section 5.21	Labor Disputes	16
	Section 5.22	Use of Proceeds	16
	Section 5.23	Investment Company Act Status	16
	Section 5.24	Reserved	17
	Section 5.25	Taxes	17
	Section 5.26	Insurance	17
	Section 5.27	Exemption from Registration	17
	Section 5.28	No General Solicitation or Advertising	17
	Section 5.29	No Integrated Offering	17
	Section 5.30	Dilutive Effect	18
	Section 5.31	Manipulation of Price	18
	Section 5.32	Listing and Maintenance Requirements; DTC Eligibility	18
	Section 5.33	OFAC	19
	Section 5.34	Information Technology; Compliance with Data Privacy Laws	19
	Section 5.35	Acknowledgement Regarding Investor’s Acquisition of Shares	19
	Article VI ADDITIONAL COVENANTS	20
	Section 6.1	Securities Compliance	20



 






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	Section 6.2	Reservation of Common Stock	20
	Section 6.3	Registration and Listing	20
	Section 6.4	Compliance with Laws	21
	Section 6.5	Keeping of Records and Books of Account; Due Diligence	21
	Section 6.6	No Frustration; No Equity Line Transactions	21
	Section 6.7	Corporate Existence	22
	Section 6.8	Fundamental Transaction	22
	Section 6.9	Selling Restrictions	22
	Section 6.10	Effective Registration Statement	23
	Section 6.11	Blue Sky	23
	Section 6.12	Non-Public Information	23
	Section 6.13	Broker/Dealer	24
	Section 6.14	Disclosure Schedule	24
	Section 6.15	Delivery of Bring Down Letters and Compliance Certificates Upon Occurrence of Certain Events	25
	Article VII CONDITIONS TO CLOSING AND CONDITIONS TO
    THE SALE AND PURCHASE OF THE SHARES	25
	Section 7.1	Conditions Precedent to Closing	25
	Section 7.2	Conditions Precedent to Commencement	26
	Section 7.3	Conditions Precedent to Purchases after Commencement Date	29
	Article VIII TERMINATION	33
	Section 8.1	Automatic Termination	33
	Section 8.2	Other Termination	33
	Section 8.3	Effect of Termination	34
	Article IX INDEMNIFICATION	35
	Section 9.1	Indemnification of Investor	35
	Section 9.2	Indemnification of the Company	36
	Section 9.3	Indemnification Procedures	36
	Article X MISCELLANEOUS	38
	Section 10.1	Certain Fees and Expenses; Commitment Fee; Commencement Irrevocable Transfer Agent Instructions	38
	Section 10.2	Specific Enforcement, Consent to Jurisdiction, Waiver of Jury Trial	39
	Section 10.3	Entire Agreement	40
	Section 10.4	Notices	40



 






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	Section 10.5	Waivers	41
	Section 10.6	Amendments	41
	Section 10.7	Headings	41
	Section 10.8	Construction	42
	Section 10.9	Binding Effect	42
	Section 10.10	No Third Party Beneficiaries	42
	Section 10.11	Governing Law	42
	Section 10.12	Survival	42
	Section 10.13	Counterparts	42
	Section 10.14	Publicity	43
	Section 10.15	Severability	43
	Section 10.16	Further Assurances	43



 






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COMMON
STOCK PURCHASE AGREEMENT


 


This COMMON STOCK
PURCHASE AGREEMENT (this “Agreement”) is made and entered into as of November 21, 2022 (the “CSPA
Date”), by and between White Lion Capital, LLC, a Nevada limited liability company (the “Investor”),
and ACE Convergence Acquisition Corp., a Cayman Islands exempted company limited by shares (the “Company”).


 


RECITALS


 


WHEREAS, the Company
is party to that certain Amended and Restated Agreement and Plan of Merger, dated as of August 12, 2022, by and among the Company,
ACE Convergence Subsidiary Corp., a Delaware corporation and a direct wholly owned subsidiary of the Company (“Merger Sub”),
and Tempo Automation, Inc., a Delaware corporation (“Tempo”), as amended on September 7, 2022 and
September 23, 2022 (as may be further amended, supplemented, restated or otherwise modified from time to time, the “Merger
Agreement”), pursuant to which, among other things, Merger Sub will merge with and into Tempo, with Tempo surviving such
merger as a direct wholly owned subsidiary of the Company (the “Merger”);


 


WHEREAS, prior to
the effective time of the Merger, and subject to the conditions of the Merger Agreement, Company shall migrate to and domesticate as
a Delaware corporation in accordance with Section 388 of the Delaware General Corporation Law, as amended, and the Cayman Islands
Companies Act (as amended) (the “Domestication”);


 


WHEREAS, in connection
with the Domestication, among other things, each then issued and outstanding ordinary share, par value $0.0001 per share, of the Company
will convert automatically, on a one-for-one basis, into a share of common stock, par value $0.0001, per share of the Company (after
its domestication as a corporation incorporated in the State of Delaware) (“Common Stock”);


 


WHEREAS, the parties
desire that, upon the terms and subject to the conditions and limitations set forth herein, during the Commitment Period (as defined
herein), the Company may issue and sell to the Investor, from time to time as provided herein, and the Investor shall purchase from the
Company, up to the lesser of (i) $100,000,000 in aggregate gross purchase price of newly issued shares of Common Stock and (ii) the
Exchange Cap (as defined herein), to the extent applicable under Section 3.3;


 


WHEREAS, such sales
of Common Stock by the Company to the Investor will be made in reliance upon the provisions of Section 4(a)(2) of the Securities
Act (“Section 4(a)(2)”) and/or Rule 506(b) of Regulation D promulgated by the Commission
under the Securities Act (“Regulation D”), and upon such other exemption from the registration requirements
of the Securities Act as may be available with respect to any or all of the issuances and sales of Common Stock by the Company to the
Investor to be made hereunder;


 


WHEREAS, the
parties hereto are concurrently entering into a Registration Rights Agreement (the “Registration Rights Agreement”),
pursuant to which the Company shall register the resale of the Registrable Securities (as defined in the Registration Rights Agreement),
upon the terms and subject to the conditions set forth therein; and


 






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WHEREAS, in consideration
for the Investor’s execution and delivery of this Agreement, the Company shall issue to the Investor the Commitment Fee (as defined
herein), pursuant to and in accordance with Section 10.1(ii);


 


NOW, THEREFORE, the
parties hereto, intending to be legally bound, hereby agree as follows:


 


Article I

DEFINITIONS


 


Capitalized terms used in
this Agreement shall have the meanings ascribed to such terms in Annex I hereto, and hereby made a part hereof,
or as otherwise set forth in this Agreement.


 


Article II

PURCHASE AND SALE OF COMMON STOCK


 


Section 2.1            Purchase
and Sale of Stock. Upon the terms and subject to the conditions of this Agreement, during
the Commitment Period, the Company, in its sole discretion, shall have the right, but not the obligation, to issue and sell to the Investor,
and the Investor shall purchase from the Company, in each case, subject to the terms of this Agreement, the lesser of (i) up to
$100,000,000 (the “Total Commitment”) in aggregate gross purchase price of duly authorized, validly issued,
fully paid and non-assessable Shares and (ii) the Exchange Cap, to the extent applicable under Section 3.3
by the delivery to the Investor of Purchase Notices as provided in Article III.


 


Section 2.2            Closing
Date; Settlement Dates. This Agreement shall become effective and binding (the “Closing”)
upon the later of (i) the delivery of all documents, instruments and writings required to be delivered at the Closing, in each case
as provided in Section 7.1, to the offices of Greenberg Traurig, LLP at a mutually agreed time on the Closing Date and (ii) the
Merger Closing. In consideration of and in express reliance upon the representations, warranties and covenants contained in, and upon
the terms and subject to the conditions of, this Agreement, during the Commitment Period, the Company, at its sole option and discretion,
may issue and sell to the Investor, and, if the Company elects to so issue and sell, the Investor shall purchase from the Company, the
Shares in respect of each Purchase. The delivery of Shares in respect of each Purchase, and the payment for such Shares, shall occur
in accordance with Section 3.2, provided that all of the conditions precedent in Article VII
shall have been fulfilled at the applicable times set forth in Article VII.


 


Section 2.3            Initial
Public Announcements and Required Filings. The Company shall timely file with the Commission
a Current Report on Form 8-K disclosing the execution of this Agreement and the Registration Rights Agreement by the Company
and the Investor and describing the material terms thereof, and attaching as exhibits thereto copies of each of this Agreement and the
Registration Rights Agreement (including all exhibits thereto, the “Current Report”). The Company shall provide
the Investor a reasonable opportunity to comment on a draft of the Current Report prior to filing the Current Report with the Commission
and shall reasonably consider all such comments. From and after the filing of the Current Report with the Commission, the Company shall
have publicly disclosed all material nonpublic information delivered to the Investor (or the Investor’s representatives or agents)
by the Company or any of its Subsidiaries, or any of their respective officers, directors, employees, agents or representatives (if any)
in connection with the transactions contemplated by the Transaction Documents. The Investor covenants that until such time as such material
nonpublic information delivered to Investor and the transactions contemplated by this Agreement and the Registration Rights Agreement
are publicly disclosed by the Company as described in this Section 2.3, the Investor shall maintain the confidentiality of
all disclosures made to it in connection with the transactions contemplated by the Transaction Documents (including the existence and
terms of the transactions contemplated hereby and thereby), except that the Investor may disclose the terms of such transactions to its
financial, accounting, legal and other advisors (provided that the Investor directs such Persons to maintain the confidentiality of such
information).


 






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Article III

PURCHASE TERMS


 


Subject to the satisfaction
of the conditions set forth in Article VII, the parties agree as follows:


 


Section 3.1            Purchases.
The Company shall have the right, but not the obligation, to direct the Investor, from time to time after the Commencement Date, by its
delivery to the Investor of a Purchase Notice, to purchase the applicable Purchase Notice Shares, not to exceed the applicable Purchase
Notice Limit, at the applicable Purchase Price in accordance with this Agreement (each such purchase, a “Purchase”).
The wire for the applicable Purchase Notice shall occur one (1) Trading Day following the end of the applicable Valuation Period
(the “Purchase Settlement Date”). The Investor is obligated to accept each Purchase Notice prepared and delivered
by the Company in accordance with the terms of and subject to the satisfaction of the conditions contained in this Agreement. The Company
may not deliver a Purchase Notice if the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Purchase
Notice Date is less than the Floor Price. If the Company delivers any Purchase Notice directing the Investor to purchase Purchase Notice
Shares in excess of the applicable Purchase Notice Limit, such Purchase Notice shall be void ab initio, solely to the
extent of the amount by which the Purchase Notice Shares set forth in such Purchase Notice exceeds such applicable Purchase Notice Limit,
and the Investor shall have no obligation to purchase such excess Shares in respect of such Purchase Notice; provided, however,
that the Investor shall remain obligated to purchase the applicable Purchase Notice Limit in such Purchase, subject to adjustments provided
herein. Notwithstanding the foregoing, the Company shall not deliver any Purchase Notices to the Investor during the PEA Period.


 


Section 3.2            Settlement.
The Shares constituting the applicable Purchase Notice Shares in each Purchase Notice shall be delivered to the Investor as DWAC Shares
alongside the delivery of a Purchase Notice. For each Purchase, the Investor shall pay to the Company an amount in cash equal to the
product of (a) the total applicable number of Purchase Notice Shares in such applicable Purchase Notice and (b) the applicable
Purchase Price for such Shares (the “Purchase Amount”), as full payment for such Shares purchased by the Investor
in such Purchase, via wire transfer of immediately available funds, not later than 5:00 p.m., New York City time, on the Purchase Settlement
Date (it being acknowledged and agreed that the Company may not deliver any additional Purchase Notice to the Investor without the Investor’s
consent until all such Shares subject to such Purchase, and all Shares subject to all prior Purchase Notices, have been received by the
Investor as DWAC Shares in accordance with this Agreement, and the Company has received all Purchase Amounts, via wire transfer of immediately
available funds, in respect of each Purchase). The Company shall not issue any fraction of a share of Common Stock to the Investor in
connection with any Purchase effected pursuant to this Agreement. If the issuance would result in the issuance of a fraction of a share
of Common Stock, the Company shall round such fraction of a share of Common Stock up or down to the nearest whole share. All payments
to be made by the Investor pursuant to this Agreement shall be made by wire transfer of immediately available funds to such account as
the Company may from time to time designate by written notice to the Investor in accordance with the provisions of this Agreement.


 






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Section 3.3            Compliance
with Rules of Principal Market.


 


(a)            Exchange
Cap. The Company shall not issue or sell any Common Stock pursuant to this Agreement, and the Investor shall not purchase or
acquire any Common Stock pursuant to this Agreement, to the extent that after giving effect thereto, the aggregate number of shares of
Common Stock that would be issued pursuant to this Agreement and the transactions contemplated hereby would exceed the maximum number
of shares of Common Stock permitted under applicable rules of the Principal Market that may be issued without the approval of the
Company’s stockholders, which number of Common Stock shall be reduced, on a share-for-share basis, by the number of Common Stock
issued or issuable pursuant to any transaction or series of transactions that may be aggregated with the transactions contemplated by
this Agreement under applicable rules of the Principal Market (such maximum number of Common Stock, the “Exchange Cap”),
unless the Company’s stockholders have approved the issuance of Common Stock pursuant to this Agreement in excess of the Exchange
Cap in accordance with the applicable rules of the Principal Market. For the avoidance of doubt, the Company may, but shall be under
no obligation to, request its stockholders approve the issuance of Common Stock pursuant to this Agreement; provided, that
if such stockholder approval is not obtained, the Exchange Cap shall be applicable for all purposes of this Agreement and the transactions
contemplated hereby at all times during the term of this Agreement (except as set forth in Section 3.3(b)).


 


(b)            At-Market
Transaction. Notwithstanding Section 3.3(a) above, the Exchange Cap shall not be applicable for any purposes of this
Agreement and the transactions contemplated hereby, solely to the extent that (and only for so long as) the Average Price shall equal
or exceed the Base Price (it being hereby acknowledged and agreed that the Exchange Cap shall be applicable for all purposes of this
Agreement and the transactions contemplated hereby at all other times during the term of this Agreement, unless the stockholder approval
referred to in Section 3.3(a) is obtained). The parties acknowledge and agree that the Minimum Price used to determine the
Base Price hereunder represents the lower of (i) the official closing price of the Common Stock on the Principal Market on the Trading
Day immediately prior to the date of this Agreement and (ii) the average official closing price of the Common Stock on the Principal
Market for the five (5) consecutive Trading Days ending on the Trading Day immediately prior to the date of this Agreement. “Average
Price” means, as of any date of determination, such price per Share (rounded to the nearest tenth of a cent) equal to the quotient
obtained by dividing (i) the aggregate gross purchase price paid by the Investor for all Shares purchased pursuant to this Agreement
as of such date, by (ii) the aggregate number of Shares issued pursuant to this Agreement as of such date. “Base Price”
means a price per Share equal to the Minimum Price (subject to adjustment for any reorganization, recapitalization, non-cash dividend,
stock split, reverse stock split or other similar transaction that occurs on or after the date of this Agreement). “Minimum
Price” means $10.50, representing the official closing price of the Common Stock on the Principal Market on the Trading Day
of this Agreement (subject to adjustment for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split
or other similar transaction that occurs on or after the date of this Agreement).


 






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(c)            General.
The Company shall not issue or sell any shares of Common Stock pursuant to this Agreement if such issuance or sale would reasonably be
expected to result in (A) a violation of the Securities Act or (B) a breach of the rules of the Principal Market. The
provisions of this Section  3.3 shall be implemented in a manner otherwise than in strict conformity with the terms of this
Section 3.3 only if necessary to ensure compliance with the Securities Act and the applicable rules of the Principal
Market.


 


Section 3.4            Beneficial
Ownership Limitation. Notwithstanding anything to the contrary contained in this Agreement,
the Company shall not issue or sell, and the Investor shall not purchase or acquire, any shares of Common Stock under this
Agreement which, when aggregated with all other shares of Common Stock then beneficially owned by the Investor and its affiliates
(as calculated pursuant to Section 13(d) of the Exchange Act and Rule 13d-3 promulgated thereunder), would result
in the beneficial ownership by the Investor of more than 4.99% of the outstanding shares of Common Stock (the “Beneficial
Ownership Limitation”). Upon the written or oral request of the Investor, the Company shall promptly (but not later than
the next business day on which the Transfer Agent is open for business) confirm orally or in writing to the Investor the number of shares
of Common Stock then outstanding. The Investor and the Company shall each cooperate in good faith in the determinations required under
this Section 3.4 and the application of this Section 3.4. The Investor’s written certification to the Company
of the applicability of the Beneficial Ownership Limitation, and the resulting effect thereof hereunder at any time, shall be conclusive
with respect to the applicability thereof and such result absent manifest error. The provisions of this Section 3.4 shall
be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3.4 to the extent
necessary to properly give effect to the limitations contained in this Section 3.4.


 


Article IV

REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE INVESTOR


 


The Investor hereby makes
the following representations, warranties and covenants to the Company:


 


Section 4.1            Organization
and Standing of the Investor. The Investor is a limited liability company duly organized,
validly existing and in good standing under the laws of the State of Nevada.


 






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Section 4.2            Authorization
and Power. The Investor has the requisite limited liability company power and authority
to enter into and perform its obligations under this Agreement and the Registration Rights Agreement and to purchase or acquire the Shares
in accordance with the terms hereof. The execution, delivery and performance by the Investor of this Agreement and the Registration Rights
Agreement and the consummation by it of the transactions contemplated hereby and thereby have been duly authorized by all necessary limited
liability company action, and no further consent or authorization of the Investor, its managers or its members is required. Each of this
Agreement and the Registration Rights Agreement has been duly executed and delivered by the Investor and constitutes a valid and binding
obligation of the Investor enforceable against it in accordance with its terms, except as such enforceability may be limited by applicable
bankruptcy, insolvency, reorganization, moratorium, liquidation, conservatorship, receivership, or similar laws relating to, or affecting
generally the enforcement of, creditor’s rights and remedies or by other equitable principles of general application (including
any limitation of equitable remedies).


 


Section 4.3            No
Conflicts. The execution, delivery and performance by the Investor of this Agreement and
the Registration Rights Agreement and the consummation by the Investor of the transactions contemplated hereby and thereby do not and
shall not (i) result in a violation of such Investor’s certificate of formation, limited liability company agreement or other
applicable organizational instruments, (ii) conflict with, constitute a default (or an event which, with notice or lapse of time
or both, would become a default) under, or give rise to any rights of termination, amendment, acceleration or cancellation of, any material
agreement, mortgage, deed of trust, indenture, note, bond, license, lease agreement, instrument or obligation to which the Investor is
a party or is bound, or (iii) result in a violation of any federal, state, local or foreign statute, rule, or regulation, or any
order, judgment or decree of any court or governmental agency applicable to the Investor or by which any of its properties or assets
are bound or affected, except, in the case of clauses (ii) and (iii), for such conflicts, defaults, terminations, amendments, acceleration,
cancellations and violations as would not, individually or in the aggregate, prohibit or otherwise interfere with, in any material respect,
the ability of the Investor to enter into and perform its obligations under this Agreement and the Registration Rights Agreement. The
Investor is not required under any applicable federal, state or local law, rule or regulation to obtain any consent, authorization
or order of, or make any filing or registration with, any court or governmental agency in order for it to execute, deliver or perform
any of its obligations under this Agreement and the Registration Rights Agreement or to purchase or acquire the Shares in accordance
with the terms hereof; provided, however, that for purposes of the representation made in this sentence, the
Investor is assuming and relying upon the accuracy of the relevant representations and warranties and the compliance with the relevant
covenants and agreements of the Company in the Transaction Documents to which it is a party.


 


Section 4.4            Investment
Purpose. The Investor is acquiring the Shares for its own account, for investment purposes
and not with a view towards, or for resale in connection with, the public sale or distribution thereof, in violation of the Securities
Act or any applicable state securities laws; provided, however, that by making the representations herein, the
Investor does not agree, or make any representation or warranty, to hold any of the Shares for any minimum or other specific term and
reserves the right to dispose of the Shares at any time in accordance with, or pursuant to, a registration statement filed pursuant to
the Registration Rights Agreement or an applicable exemption under the Securities Act. The Investor does not presently have any agreement
or understanding, directly or indirectly, with any Person to sell or distribute any of the Shares.


 






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Section 4.5            Accredited
Investor Status. The Investor is an “accredited investor” as that term is defined
in Rule 501(a) of Regulation D.


 


Section 4.6            Reliance
on Exemptions. The Investor understands that the Shares are being offered and sold to it
in reliance on specific exemptions from the registration requirements of U.S. federal and state securities laws and that the Company
is relying in part upon the truth and accuracy of, and the Investor’s compliance with, the representations, warranties, agreements,
acknowledgments and understandings of the Investor set forth herein in order to determine the availability of such exemptions and the
eligibility of the Investor to acquire the Shares.


 


Section 4.7            Information.
All materials relating to the business, financial condition, management and operations of the Company and materials relating to the offer
and sale of the Shares which have been requested by the Investor have been furnished or otherwise made available to the Investor or its
advisors, including, without limitation, by virtue of the Company filing the Commission Documents. The Investor understands that its
investment in the Shares involves a high degree of risk. The Investor is able to bear the economic risk of an investment in the Shares,
including a total loss thereof, and has such knowledge and experience in financial and business matters that it is capable of evaluating
the merits and risks of a proposed investment in the Shares. The Investor and its advisors have been afforded the opportunity to ask
questions of and receive answers from representatives of the Company concerning the financial condition and business of the Company and
other matters relating to an investment in the Shares. Neither such inquiries nor any other due diligence investigations conducted by
the Investor or its advisors, if any, or its representatives shall modify, amend or affect the Investor’s right to rely on the
Company’s representations and warranties contained in this Agreement or in any other Transaction Document to which the Company
is a party or the Investor’s right to rely on any other document or instrument executed and/or delivered in connection with this
Agreement or the consummation of the transaction contemplated hereby. The Investor has sought such accounting, legal and tax advice as
it has considered necessary to make an informed investment decision with respect to its acquisition of the Shares. The Investor understands
that it (and not the Company) shall be responsible for its own tax liabilities that may arise as a result of this investment or the transactions
contemplated by this Agreement.


 


Section 4.8            No
Governmental Review. The Investor understands that no United States federal or state agency
or any other government or governmental agency has passed on or made any recommendation or endorsement of the Shares or the fairness
or suitability of the investment in the Shares nor have such authorities passed upon or endorsed the merits of the offering of the Shares.


 


Section 4.9            No
General Solicitation. The Investor is not purchasing or acquiring the Shares as a result
of any form of general solicitation or general advertising (within the meaning of Regulation D) in connection with the offer or sale
of the Shares.


 






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Section 4.10            Not
an Affiliate. The Investor is not an officer, director or an Affiliate of the Company. As
of the date of this Agreement, the Investor does not beneficially own any shares of Common Stock or securities exercisable for or convertible
into shares of Common Stock. During the Commitment Period, the Investor will not acquire for its own account any shares of Common Stock
or securities exercisable for or convertible into shares of Common Stock, other than pursuant to this Agreement.


 


Section 4.11            No
Prior Short Sales. At no time prior to the CSPA Date has the Investor, its sole member,
any of their respective officers, or any entity managed or controlled by the Investor or its sole member, engaged in or effected, in
any manner whatsoever, directly or indirectly, for its own principal account, any (i) “short sale” (as such term is
defined in Rule 200 of Regulation SHO of the Exchange Act) of the Common Stock or (ii) hedging transaction, which establishes
a net short position with respect to the Common Stock.


 


Section 4.12            Statutory
Underwriter Status. The Investor acknowledges that it will be disclosed as an “underwriter”
and a “selling stockholder” in each Registration Statement and in any Prospectus contained therein to the extent required
by applicable law and to the extent the Prospectus is related to the resale of Registrable Securities.


 


Section 4.13            Resales
of Shares. The Investor represents, warrants and covenants that it will resell such Shares
only pursuant to the Registration Statement in which the resale of such Shares is registered under the Securities Act, in a manner described
under the caption “Plan of Distribution” in such Registration Statement, and in a manner in compliance with all applicable
U.S. federal and state securities laws, rules and regulations. For the purposes hereof, and in accordance with Regulation SHO, the
sale after delivery of the Purchase Notice of such number of shares of Common Stock expected to be purchased under each Purchase Notice
shall not be deemed a Short Sale.


 


Section 4.14            Primary
Place of Business. The Investor’s primary place of business is in the State of California.


 


Article V

REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE COMPANY


 


Except as set forth in any
Disclosure Schedule (as defined below) delivered by the Company to the Investor, the Company hereby makes the following representations,
warranties and covenants to the Investor, in each case on and as of the Closing Date:


 


Section 5.1            Organization,
Good Standing and Power. The Company is a corporation duly organized, validly existing and
in good standing under the laws of the State of Delaware and has the corporate power and authority to own, lease or operate its assets
and properties and to conduct its business as now being conducted. The Company is duly licensed or qualified and in good standing (or
equivalent status as applicable) in each jurisdiction in which the assets owned or leased by it or the character of its activities require
it to be licensed or qualified or in good standing (or equivalent status as applicable), except where the failure to be so licensed or
qualified, individually or in the aggregate, has not had and would not reasonably be expected to have a Material Adverse Effect.


 






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Section 5.2            Authorization,
Enforcement. The Company has the requisite corporate power and authority to enter into and
perform its obligations under each of the Transaction Documents to which it is a party and to issue the Shares in accordance with the
terms hereof and thereof. Except for approvals of the Company’s Board of Directors or a committee thereof as may be required in
connection with any issuance and sale of Shares to the Investor hereunder (which approvals shall be obtained prior to the delivery of
any Purchase Notice), the execution, delivery and performance by the Company of each of the Transaction Documents to which it is a party
and the consummation by it of the transactions contemplated hereby and thereby have been duly and validly authorized by all necessary
corporate action, and no further consent or authorization of the Company, its Board of Directors or its stockholders is required. Each
of the Transaction Documents to which the Company is a party has been duly executed and delivered by the Company and constitutes a valid
and binding obligation of the Company enforceable against the Company in accordance with its terms, except as such enforceability may
be limited by applicable bankruptcy, insolvency, reorganization, moratorium, liquidation, conservatorship, receivership or similar laws
relating to, or affecting generally the enforcement of, creditor’s rights and remedies or by other equitable principles of general
application (including any limitation of equitable remedies).


 


Section 5.3            Capitalization.
The authorized capital stock of the Company and the shares thereof issued and outstanding were as set forth in the Commission Documents
as of the dates reflected therein. Except as set forth in the Commission Documents, this Agreement and the Registration Rights Agreement,
there are no agreements or arrangements under which the Company is obligated to register the sale of any securities under the Securities
Act. Except as set forth in the Commission Documents, no shares of Common Stock are entitled to preemptive rights and there are no outstanding
debt securities and no contracts, commitments, understandings, or arrangements by which the Company is or may become bound to issue additional
shares of the capital stock of the Company or options, warrants, scrip, rights to subscribe to, calls or commitments of any character
whatsoever relating to, or securities or rights convertible into or exchangeable for, any shares of capital stock of the Company other
than those issued or granted in the ordinary course of business pursuant to the Company’s equity incentive and/or compensatory
plans or arrangements. Except for customary transfer restrictions contained in agreements entered into by the Company to sell restricted
securities or as set forth in the Commission Documents, the Company is not a party to, and it has no Knowledge of, any agreement restricting
the voting or transfer of any shares of the capital stock of the Company after the Closing Date. Except as set forth in the Commission
Documents, there are no securities or instruments containing anti-dilution or similar provisions that will be triggered by this Agreement
or any of the other Transaction Documents or the consummation of the transactions described herein or therein. The Company has provided
the Investor with true and correct copies of the Company’s Amended and Restated Certificate of Incorporation as in effect on the
Closing Date (the “Charter”), and the Company’s Amended and Restated Bylaws as in effect on the Closing
Date (the “Bylaws”).


 






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Section 5.4            Issuance
of Shares. The Shares to be issued under this Agreement have been, or with respect to Shares
to be purchased by the Investor pursuant to a particular Purchase Notice, will be, prior to the delivery to the Investor hereunder of
such Purchase Notice, duly authorized by all necessary corporate action on the part of the Company. The Shares, if and when issued and
sold against payment therefor in accordance with this Agreement, shall be validly issued and outstanding, fully paid and non-assessable and
free from all liens, charges, taxes, security interests, encumbrances, rights of first refusal, preemptive or similar rights and other
encumbrances with respect to the issue thereof, and the Investor shall be entitled to all rights accorded to a holder of Common Stock.
At or prior to Commencement, the Company shall have duly authorized and reserved a number of shares of Common Stock equal to the Exchange
Cap for issuance and sale as Shares to the Investor pursuant to Purchases that may be effected by the Company, in its sole discretion,
from time to time from and after the Commencement Date, pursuant to this Agreement.


 


Section 5.5            No
Conflicts. The execution, delivery and performance by the Company of each of the Transaction
Documents to which it is a party and the consummation by the Company of the transactions contemplated hereby and thereby do not and shall
not (i) result in a violation of any provision of the Company’s Charter or Bylaws, (ii) conflict with or constitute a
material default (or an event which, with notice or lapse of time or both, would become a material default) under, or give rise to any
rights of termination, amendment, acceleration or cancellation of, any material agreement, mortgage, deed of trust, indenture, note,
bond, license, lease agreement, instrument or obligation to which the Company or any of its Subsidiaries is a party or is bound, (iii) result
in a violation of any federal, state, local or foreign statute, rule, regulation, order, judgment or decree applicable to the Company
or any of its Subsidiaries (including federal and state securities laws and regulations and the rules and regulations of the Principal
Market), except, in the case of clauses (ii) and (iii), for such conflicts, defaults, terminations, amendments, acceleration, cancellations,
liens, charges, encumbrances and violations as would not, individually or in the aggregate, reasonably be expected to result in a Material
Adverse Effect or that have been waived. Except as specifically contemplated by this Agreement or the Registration Rights Agreement and
as required under the Securities Act, any applicable state securities laws and applicable rules of the Principal Market, the Company
is not required under any federal, state or local rule or regulation to obtain any consent, authorization or order of, or make any
filing or registration with, any court or governmental agency in order for it to execute, deliver or perform any of its obligations under
the Transaction Documents to which it is a party, or to issue the Shares to the Investor in accordance with the terms hereof and thereof
(other than such consents, authorizations, orders, filings or registrations as have been obtained or made prior to the Closing Date); provided, however,
that, for purposes of the representation made in this sentence, the Company is assuming and relying upon the accuracy of the representations
and warranties of the Investor in this Agreement and the compliance by it with its covenants and agreements contained in this Agreement
and the Registration Rights Agreement.


 






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Section 5.6            SEC
Documents, Financial Statements; Disclosure Controls and Procedures; Internal Controls Over Financial Reporting; Accountants.


 


(a)            At
all times after the Closing Date, the Company shall have timely filed (giving effect to permissible extensions in accordance with
Rule 12b-25 under the Exchange Act) all filings required to be filed with or furnished to the Commission by the Company under
the Securities Act or the Exchange Act, including those required to be filed with or furnished to the Commission under Section 13(a) or
Section 15(d) of the Exchange Act (the “SEC Documents”). As of the CSPA Date, no Subsidiary of the
Company is required to file or furnish any report, schedule, registration, form, statement, information or other document with the Commission.
As of its filing date, each SEC Document filed with or furnished to the Commission prior to the Closing Date complied in all material
respects with the requirements of the Securities Act or the Exchange Act, as applicable, and other federal, state and local laws, rules and
regulations applicable to it, and, as of its filing date (or, if amended or superseded by a filing prior to the Closing Date, on the
date of such amended or superseded filing). Each Registration Statement, on the date it is filed with the Commission, on the date it
is declared effective by the Commission and on each Purchase Date shall comply in all material respects with the requirements of the
Securities Act (including, without limitation, Rule 415 under the Securities Act) and shall not contain any untrue statement of
a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein not
misleading, except that this representation and warranty shall not apply to statements in or omissions from such Registration Statement
made in reliance upon and in conformity with information relating to the Investor furnished to the Company in writing by or on behalf
of the Investor expressly for use therein. The Prospectus and each Prospectus Supplement required to be filed pursuant to this Agreement
or the Registration Rights Agreement after the Closing Date, when taken together, on its date and on each Purchase Date, shall comply
in all material respects with the requirements of the Securities Act (including, without limitation, Rule 424(b) under the
Securities Act) and shall not contain any untrue statement of a material fact or omit to state a material fact required to be stated
therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading,
except that this representation and warranty shall not apply to statements in or omissions from the Prospectus or any Prospectus Supplement
made in reliance upon and in conformity with information relating to the Investor furnished to the Company in writing by or on behalf
of the Investor expressly for use therein. Each SEC Document (other than the Initial Registration Statement or any New Registration Statement,
or the Prospectus included therein or any Prospectus Supplement thereto) to be filed with or furnished to the Commission after the Closing
Date and incorporated by reference in the Initial Registration Statement or any New Registration Statement, or the Prospectus included
therein or any Prospectus Supplement thereto required to be filed pursuant to this Agreement or the Registration Rights Agreement (including,
without limitation, the Current Report), when such document is filed with or furnished to the Commission and, if applicable, when such
document becomes effective, as the case may be, shall comply in all material respects with the requirements of the Securities Act or
the Exchange Act, as applicable, and other federal, state and local laws, rules and regulations applicable to it. The Commission
has not issued any stop order or other order suspending the effectiveness of any registration statement filed by the Company under the
Securities Act or the Exchange Act.


 






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(b)            The
financial statements of the Company included or incorporated by reference in the Commission Documents, together with the related notes
and schedules, present fairly, in all material respects, the financial position of the Company as of the dates indicated, and the results
of operations, cash flows and changes in stockholders’ equity of the Company for the periods specified (subject, in the case of
unaudited statements, to normal year-end audit adjustments which will not be material, either individually or in the aggregate,
to the Company) and have been prepared in compliance in all material respects with the published requirements of the Securities Act and
the Exchange Act, as applicable, and in conformity with generally accepted accounting principles in the United States (“GAAP”)
applied on a consistent basis (except (i) for such adjustments to accounting standards and practices as are noted therein and (ii) in
the case of unaudited interim statements, to the extent they may exclude footnotes or may be condensed or summary statements) during
the periods involved. The summary consolidated financial data included or incorporated by reference in the SEC Documents present fairly
in all material respects the information shown therein and have been compiled on a basis consistent with that of the financial statements
included or incorporated by reference in the Commission Documents, as of and at the dates indicated. The pro forma condensed combined
financial statements and the pro forma combined financial statements and any other pro forma financial statements or data included or
incorporated by reference in the Commission Documents comply in all material respects with the requirements of Regulation S-X of
the Securities Act, including, without limitation, Article 11 thereof, and the assumptions used in the preparation of such pro forma
financial statements and data are reasonable, the pro forma adjustments used therein are appropriate to give effect to the circumstances
referred to therein and the pro forma adjustments have been properly applied to the historical amounts in the compilation of those statements
and data. There are no financial statements (historical or pro forma) that are required to be included or incorporated by reference in
the Commission Documents that are not included or incorporated by reference as required. The Company and the Subsidiaries do not have
any material liabilities or obligations, direct or contingent (including any off-balance sheet obligations or any “variable
interest entities” as that term is used in Accounting Standards Codification Paragraph 810-10-25-20), not described in
Commission Documents which are required to be described in the Commission Documents. All disclosures contained or incorporated by reference
in the Commission Documents, if any, regarding “non-GAAP financial measures” (as such term is defined by the rules and
regulations of the Commission) comply in all material respects with Regulation G of the Exchange Act and Item 10 of Regulation S-K under
the Securities Act, to the extent applicable.


 


(c)            The
Company has timely filed all certifications and statements the Company is required to file under (i) Rule 13a-14 or Rule 15d-14 under
the Exchange Act or (ii) 18 U.S.C. Section 1350 (Section 906 of the Sarbanes-Oxley Act of 2002) with respect to all Commission
Documents with respect to which the Company is required to file such certifications and statements thereunder.


 


Section 5.7            Subsidiaries.


 


(a)            Each
Subsidiary of the Company has been duly formed or organized, is validly existing under the applicable laws of its jurisdiction of incorporation
or organization and has the organizational power and authority to own, lease and operate its assets and properties and to conduct its
business as it is now being conducted. Each of the Company’s Subsidiaries is duly licensed or qualified and in good standing (or
equivalent status as applicable) as a foreign corporation (or other entity, if applicable) in each jurisdiction in which the assets owned
or leased by it or the character of its activities require it to be licensed or qualified or in good standing (or equivalent status as
applicable), except where the failure to be so licensed or qualified, individually or in the aggregate, has not had and would not be
expected to have a Material Adverse Effect.


 






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(b)            Except
as set forth in the Commission Documents, as of the Closing Date and as of the Commencement Date, (i) the Company owns and will
own, directly or indirectly, the equity interests in its Subsidiaries as set forth in the Commission Documents, in each case, free and
clear of any lien, charge, security interest, encumbrance, right of first refusal or other restriction, other than restrictions imposed
by applicable securities laws or the organizational documents of such Subsidiaries; and (ii) all equity interests in the Subsidiaries
owned by the Company, directly or indirectly, have been duly authorized, validly issued, fully paid (to the extent required under the
applicable organizational documents) and non-assessable.


 


Section 5.8            No
Material Adverse Effect; Absence of Certain Changes. Except as disclosed in the Commission
Documents, since the date of the most recent audited financial statements of the Company included or incorporated by reference in the
Commission Documents, (a) there has not occurred any Material Adverse Effect, or any development that would result in a Material
Adverse Effect, and (b) the Company and its Subsidiaries have conducted their respective businesses in the ordinary course of business
consistent with past practice in all material respects.


 


Section 5.9            No
Material Defaults. Except as set forth in the Commission Documents, neither the Company
nor any Subsidiary has defaulted on any installment on indebtedness for borrowed money or on any rental on one or more long-term leases,
which defaults, individually or in the aggregate, would have a Material Adverse Effect. The Company has not filed a report pursuant to
Section 13(a) or 15(d) of the Exchange Act indicating that it (i) has failed to pay any dividend or sinking fund
installment on preferred stock or (ii) has defaulted on any installment on indebtedness for borrowed money or on any rental on one
or more long-term leases, which defaults, individually or in the aggregate, would have a Material Adverse Effect.


 


Section 5.10            Material
Contracts. Neither the Company nor any of its Subsidiaries is in material breach of or default
in any respect under the terms of any Material Contract and, to the Knowledge of the Company, as of the CSPA Date, no other party to
any Material Contract is in material breach of or default under the terms of any Material Contract. Each Material Contract is in full
force and effect and is a valid and binding obligation of the Company or the Subsidiary of the Company that is party thereto and, to
the Knowledge of the Company, is a valid and binding obligation of each other party thereto. The Company has not received any written
notice of the intention of any other party to a Material Contract to terminate for default, convenience or otherwise, or not renew, any
Material Contract.


 


Section 5.11            Solvency.
The Company has not taken any steps, and does not currently expect to take any steps, to seek protection pursuant to Title 11 of the
United States Code or any similar federal or state bankruptcy law or law for the relief of debtors, nor does the Company have any Knowledge
that its creditors intend to initiate involuntary bankruptcy, insolvency, reorganization or liquidation proceedings or other proceedings
for relief under Title 11 of the United States Code or any other federal or state bankruptcy law or any law for the relief of debtors.
The Company is financially solvent and is generally able to pay its debts as they become due.


 


Section 5.12            Real
Property; Other Property. Except as set forth in the Commission Documents, the Company and
its Subsidiaries own, lease or otherwise have a valid right to use, all real property that is material to its business, good and marketable
title in fee simple to all real property owned by them that is material to its business and good and marketable title in all personal
property and equipment owned by them that is material to its business, in each case free and clear of all Encumbrances, except for Permitted
Encumbrances. The Company has not received written notice of any proposed condemnation proceeding and, to the Knowledge of the Company,
there is no condemnation proceeding threatened with respect to any of its property or facilities that are material to the business of
the Company and its Subsidiaries, taken as a whole.


 






    	 	13	 



     


    

 


Section 5.13            Actions
Pending. Except as set forth in the Commission Documents, (a) there are no legal or
governmental proceedings pending or, to the Knowledge of the Company, threatened to which the Company or any Subsidiary is a party or
to which any of the properties of the Company or any Subsidiary is subject (i) that would have a Material Adverse Effect on the
Company and its Subsidiaries, taken as a whole, or on the power or ability of the Company to perform its obligations under this Agreement
or to consummate the transactions contemplated by the Commission Documents or (ii) that are required to be described in the Commission
Documents and are not so described and (b) there are no statutes, regulations, contracts or other documents that are required to
be described in any of the Commission Documents or to be filed as exhibits to any of the Commission Documents that are not described
or filed as required.


 


Section 5.14            Compliance
with Law. The Company has not received written notice from any Person that it, or any of
its Subsidiaries, is not conducting its business in compliance with all laws, rules and regulations of the jurisdictions in which
the Company or any of its Subsidiaries is conducting business that are applicable to the Company or any of its Subsidiaries, or any of
their respective businesses or properties, except where such non-compliance with such laws, rules and regulations would
not result in a Material Adverse Effect.


 


Section 5.15            Certain
Fees. Neither the Company nor any Subsidiary has incurred any liability for any finder’s
fees, brokerage commissions or similar payments in connection with the transactions herein contemplated.


 


Section 5.16            Disclosure.
The Company confirms that neither it nor any other Person acting on its behalf has provided the Investor or any of its agents, advisors
or counsel with any information that constitutes or could reasonably be expected to constitute material nonpublic information concerning
the Company or any of its Subsidiaries, other than the existence of the transactions contemplated by the Transaction Documents. The Company
understands and confirms that the Investor will rely on the foregoing representations in effecting resales of Shares under the Registration
Statement.


 


Section 5.17            Operation
of Business.


 


(a)            The
Company and its Subsidiaries possess, or have obtained, all licenses, certificates, consents, orders, approvals, permits and other authorizations
issued by, and have made all declarations and filings with, the appropriate federal, state or local governmental or regulatory authorities
that are necessary for the ownership or lease of their respective properties or the conduct of their respective businesses as currently
conducted (the “Permits”), except where the failure to possess, obtain or make the same would not, individually
or in the aggregate, have a Material Adverse Effect. Except as disclosed in the Commission Documents, neither the Company nor any Subsidiary
has received written notice of any proceeding relating to revocation or modification of any such Permit or has any reason to believe
that such Permit will not be renewed in the ordinary course, except where the failure to obtain any such renewal would not, individually
or in the aggregate, have a Material Adverse Effect. This Section 5.17(a) does not relate to environmental matters,
such items being the subject of Section 5.18.


 






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(b)            The
Company owns or possesses or has the right to use all material Intellectual Property owned by the Company or any of its Subsidiaries
or used by the Company or any of its Subsidiaries in the conduct of their respective businesses as currently conducted, without any known
infringement or other violation of the Intellectual Property rights of any Person. To the Knowledge of the Company, no product or service
marketed or sold (or proposed to be marketed or sold) by the Company infringes, misappropriates or otherwise violates any material Intellectual
Property rights of any other Person. Neither the Company nor any of its Subsidiaries has received any written communications alleging
that the Company or any of its Subsidiaries has infringed, misappropriated or otherwise violated, or by conducting its business, would
infringe, misappropriate or otherwise violate any material Intellectual Property of any other Person.


 


(c)            The
Company and its Subsidiaries have taken commercially reasonable efforts to maintain the confidentiality of all material Trade Secrets
and other material confidential information of the Company and its Subsidiaries and any confidential information owned by any Person
to whom the Company or any of its Subsidiaries has a written confidentiality obligation.


 


Section 5.18            Environmental
Compliance. Except as set forth in the Commission Documents or as would not reasonably be
expected to result in a Material Adverse Effect, (a) the Company and each of its Subsidiaries is and at all times has been in compliance
with all Environmental Laws; (b) the Company and each of its Subsidiaries holds and is in compliance with all Environmental Permits
required for the operation of their respective business; (c) there has been no Release on, upon, into or from any site currently
or, to the Knowledge of the Company, heretofore owned, leased or otherwise operated by the Company or any of its Subsidiaries that requires
any Remedial Action pursuant to Environmental Law; (d) to the Knowledge of the Company, there have been no Hazardous Materials generated
by the Company or any of its Subsidiaries that have been disposed of by or on behalf of the Company or any of its Subsidiaries at any
site that has been included in any published U.S. federal or state “Superfund” site list; (e) none of the Company or
any of its Subsidiaries has received any request for information arising under Environmental Laws regarding a property to which Hazardous
Materials generated by the Company or any of its Subsidiaries have been transported for disposal; (f) none of the Company or any
of its Subsidiaries is a party to, nor has received written notice of, any pending or threatened action, claim, suit, arbitration, litigation,
proceeding or investigation (whether civil, criminal or administrative) by or before any court or grand jury, any governmental authority
or any arbitration or mediation tribunal arising under Environmental Laws; and (g) none of the Company or any of its Subsidiaries
is a party to any material judgment, order, decree, settlement agreement, or similar arrangement imposing on it any liability or obligation,
including the obligation to perform Remedial Action, under any applicable Environmental Laws that remain unfulfilled, and has not assumed,
by contract or operation of law, the liabilities under Environmental Laws of any other Person.


 






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Section 5.19            No
Improper Practices. (i) Neither the Company nor, to the Company’s Knowledge,
the Subsidiaries, nor to the Company’s Knowledge, any of their respective executive officers has, in the past five years, made
any unlawful contributions to any candidate for any political office (or failed fully to disclose any contribution in violation of law)
or made any contribution or other payment to any official of, or candidate for, any federal, state, municipal, or foreign office or other
person charged with similar public or quasi-public duty in violation of any law or of the character required to be disclosed in the Commission
Documents; (ii) no relationship, direct or indirect, exists between or among the Company or, to the Company’s Knowledge, any
of its Subsidiaries or any Affiliate of it or any of them, on the one hand, and the directors, officers and stockholders of the Company
or, to the Company’s Knowledge, any of its Subsidiaries, on the other hand, that is required by the Securities Act to be described
in the Commission Documents that is not so described; (iii) no relationship, direct or indirect, exists between or among the Company
or any of its Subsidiaries or any Affiliate of it or any of them, on the one hand, and the directors, officers, stockholders or directors
of the Company or, to the Company’s Knowledge, any of its Subsidiaries, on the other hand, that is required by the rules of
FINRA to be described in the Commission Documents that is not so described; (iv) except as disclosed in the Commission Documents,
there are no material outstanding loans or advances or material guarantees of indebtedness by the Company or, to the Company’s
Knowledge, any of its Subsidiaries to or for the benefit of any of their respective officers or directors or any of the members of the
families of any of them; and (v) neither the Company nor any of its Subsidiaries nor, to the Company’s Knowledge, any employee
or agent of the Company or any of its Subsidiaries has made any payment of funds of the Company or any of its Subsidiaries or received
or retained any funds in violation of any law, rule or regulation (including, without limitation, the U.S. Foreign Corrupt Practices
Act of 1977), which payment, receipt or retention of funds is of a character required to be disclosed in the Commission Documents.


 


Section 5.20            Transactions
With Affiliates. No relationship, direct or indirect, exists between or among the Company
or any of its Subsidiaries, on the one hand, and the directors, officers, trustees, managers, stockholders, partners, customers or suppliers
of the Company or any of its Subsidiaries, on the other hand, which would be required by the Securities Act or the Exchange Act to be
disclosed in the Commission Documents, which is not so disclosed.


 


Section 5.21            Labor
Disputes. None of the Company nor any of its Subsidiaries is bound by or subject to any
collective bargaining or similar agreement with any labor union, and, to the Knowledge of the Company, none of the employees, representatives
or agents of the Company or any of its Subsidiaries is represented by any labor union. The Company and its Subsidiaries have complied
with all employment laws applicable to employees of the Company and its Subsidiaries, except where non-compliance with any
such employment laws would not have a Material Adverse Effect.


 


Section 5.22            Use
of Proceeds. The proceeds from the sale of the Shares by the Company to Investor shall be
used by the Company in the manner as will be set forth in the Prospectus included in any Registration Statement (and any post-effective
amendment thereto) and any Prospectus Supplement thereto filed pursuant to the Registration Rights Agreement.


 


Section 5.23            Investment
Company Act Status. The Company is not, and as a result of the consummation of the transactions
contemplated by the Transaction Documents and the application of the proceeds from the sale of the Shares as will be set forth in the
Prospectus included in any Registration Statement (and any post-effective amendment thereto) and any Prospectus Supplement thereto filed
pursuant to the Registration Rights Agreement the Company will not be, an “investment company” within the meaning of the
Investment Company Act of 1940, as amended.


 






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Section 5.24            Reserved.


 


Section 5.25            Taxes.
The Company and each of its Subsidiaries has filed all federal, state, local and foreign tax returns required to be filed through the
Closing Date or have requested extensions thereof (except where the failure to file would not, individually or in the aggregate, reasonably
be expected to have a Material Adverse Effect) and have paid all taxes required to be paid thereon (except for cases in which the failure
to file or pay would not reasonably be expected to have a Material Adverse Effect, or, except as currently being contested in good faith
and for which reserves required by GAAP have been created in the financial statements of the Company), and no tax deficiency has been
determined adversely to the Company or any of its Subsidiaries which have had a Material Adverse Effect, nor does the Company have any
notice or Knowledge of any tax deficiency which could reasonably be expected to be determined adversely to the Company or any of its
Subsidiaries and which would reasonably be expected to have a Material Adverse Effect.


 


Section 5.26            Insurance.
Except as would not be material to the Company and its Subsidiaries, taken as whole, the Company and its Subsidiaries maintain insurance
with insurers in such amounts and against such risks as the management of the Company has in good faith determined to be prudent and
appropriate, and all material insurance policies maintained by or for the benefit of the Company or any of its Subsidiaries are in full
force and effect.


 


Section 5.27            Exemption
from Registration. Subject to, and in reliance on, the representations, warranties and covenants
made herein by the Investor, the offer and sale of the Shares in accordance with the terms and conditions of this Agreement is exempt
from the registration requirements of the Securities Act pursuant to Section 4(a)(2) and/or Rule 506(b) of Regulation D; provided, however,
that at the request of and with the express agreement of the Investor (including, without limitation, the representations, warranties
and covenants of Investor set forth in Section 4.9 through 4.13), the Shares to be issued from and after Commencement
to or for the benefit of the Investor pursuant to this Agreement shall be issued to the Investor only as DWAC Shares and will not bear
legends noting restrictions as to resale of such securities under federal or state securities laws, nor will any such securities be subject
to stop transfer instructions.


 


Section 5.28            No
General Solicitation or Advertising. Neither the Company, nor any of its Subsidiaries or
Affiliates, nor any Person acting on its or their behalf, has engaged in any form of general solicitation or general advertising (within
the meaning of Regulation D) in connection with the offer or sale of the Shares.


 


Section 5.29            No
Integrated Offering. None of the Company, its Subsidiaries or any of their Affiliates, nor
any Person acting on their behalf has, directly or indirectly, made any offers or sales of any security or solicited any offers to buy
any security, under circumstances that would require registration of the issuance of any of the Shares under the Securities Act, whether
through integration with prior offerings or otherwise, or cause this offering of the Shares to require approval of stockholders of the
Company under any applicable stockholder approval provisions, including, without limitation, under the rules and regulations of
the Principal Market. None of the Company, its Subsidiaries, their Affiliates nor any Person acting on their behalf will take any action
or steps referred to in the preceding sentence that would require registration of the issuance of any of the Shares under the Securities
Act or cause the offering of any of the Shares to be integrated with other offerings.


 






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Section 5.30           Dilutive
Effect. The Company is aware and acknowledges that issuance of the Shares could cause dilution
to existing stockholders and could significantly increase the outstanding number of shares of Common Stock. The Company further acknowledges
that its obligation to issue the Shares to be purchased by the Investor pursuant to a Purchase is, upon the Company’s delivery
to the Investor of a Purchase Notice for a Purchase in accordance with this Agreement, absolute and unconditional following the delivery
of such Purchase Notice to the Investor, regardless of the dilutive effect that such issuance may have on the ownership interests of
other stockholders of the Company.


 


Section 5.31           Manipulation
of Price. Neither the Company nor any of its officers, directors or Affiliates has, and,
to the Knowledge of the Company, no Person acting on their behalf has, (i) taken, directly or indirectly, any action designed or
intended to cause or to result in the stabilization or manipulation of the price of any security of the Company, or which caused or resulted
in, or which would in the future reasonably be expected to cause or result in, the stabilization or manipulation of the price of any
security of the Company, in each case to facilitate the sale or resale of any of the Shares, (ii) sold, bid for, purchased, or paid
any compensation for soliciting purchases of, any of the Shares, or (iii) paid or agreed to pay to any Person any compensation for
soliciting another to purchase any other securities of the Company. Neither the Company nor any of its officers, directors or Affiliates
will during the term of this Agreement, and, to the Knowledge of the Company, no Person acting on their behalf will during the term of
this Agreement, take any of the actions referred to in the immediately preceding sentence.


 


Section 5.32           Listing
and Maintenance Requirements; DTC Eligibility. The Common Stock is registered pursuant to
Section 12(b) of the Exchange Act, and the Company has taken no action designed to, or which to its Knowledge is likely to
have the effect of, terminating the registration of the Common Stock under the Exchange Act, nor has the Company received any notification
that the Commission is contemplating terminating such registration. The Company has not received notice from the Principal Market to
the effect that the Company is not in compliance with the listing or maintenance requirements of the Principal Market. The Common Stock
is eligible for participation in the DTC book entry system and there shall be shares on deposit at DTC for transfer electronically to
third parties via DTC through its Deposit/Withdrawal at Custodian (“DWAC”) delivery system. The Company has
not received notice from DTC to the effect that a suspension of, or restriction on, accepting additional deposits of the Common Stock,
electronic trading or book-entry services by DTC with respect to the Common Stock is being imposed or is contemplated.


 






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Section 5.33           OFAC.
Neither the Company nor any of its Subsidiaries, nor to the Company’s Knowledge, any director, officer, employee, agent, Affiliate
or representative of the Company, is a Person that is, or is owned or controlled by a Person that is (i) the subject of any sanctions
administered or enforced by the U.S. Department of Treasury’s Office of Foreign Assets Control, the United Nations Security Council,
the European Union, Her Majesty’s Treasury, or other relevant sanctions authority (collectively, “Sanctions”),
nor (ii) located, organized or resident in a country or territory that is the subject of Sanctions (including, without limitation,
Crimea, Cuba, Iran, North Korea, Sudan and Syria). Neither the Company nor any of its Subsidiaries will knowingly, directly or indirectly,
use the proceeds from the sale of Shares under this Agreement, or lend, contribute or otherwise make available such proceeds to any Subsidiary,
joint venture partner or other Person (a) to fund or facilitate any activities or business of or with any Person or in any country
or territory that, at the time of such funding or facilitation, is the subject of Sanctions, or (b) in any other manner that will
result in a violation of Sanctions by any Person (including any Person participating in the offering, whether as underwriter, advisor,
investor or otherwise). For the past five years, neither the Company nor any of its Subsidiaries have knowingly engaged in, or are now
knowingly engaged in, any dealings or transactions with any Person, or in any country or territory, that at the time of the dealing or
transaction is or was the subject of Sanctions.


 


Section 5.34           Information
Technology; Compliance with Data Privacy Laws. (i) (x) To the knowledge of Company,
there has been no security breach or other compromise of any Company’s information technology and computer systems, networks, hardware,
Software, data, equipment or technology (collectively, “IT Systems and Data”) that would result in a Material
Adverse Effect and (y) the Company has not been notified of, and have no knowledge of any event or condition that would reasonably
be expected to result in, any security breach or other compromise to their IT Systems and Data that would result in a Material Adverse
Effect; (ii) the Company is presently in material compliance with all applicable laws or statutes and all judgments, orders, rules and
regulations of any court or arbitrator or governmental or regulatory authority, internal policies and contractual obligations relating
to the privacy and security of IT Systems and Data and to the protection of such IT Systems and Data from unauthorized use, access, misappropriation
or modification, except as would not, in the case of this clause (ii), individually or in the aggregate, have a Material Adverse Effect;
and (iii) the Company has implemented backup and disaster recovery technology consistent with industry standards and practices.


 


Section 5.35           Acknowledgement
Regarding Investor’s Acquisition of Shares. The Company acknowledges and agrees that
the Investor is acting solely in the capacity of an arm’s-length purchaser with respect to this Agreement and the transactions
contemplated by the Transaction Documents. The Company further acknowledges that the Investor is not acting as a financial advisor or
fiduciary of the Company (or in any similar capacity) with respect to this Agreement and the transactions contemplated by the Transaction
Documents, and any advice given by the Investor or any of its representatives or agents in connection therewith is merely incidental
to the Investor’s acquisition of the Shares. The Company further represents to the Investor that the Company’s decision to
enter into the Transaction Documents to which it is a party has been based solely on the independent evaluation of the transactions contemplated
thereby by the Company and its representatives. The Company acknowledges and agrees that the Investor has not made and does not make
any representations or warranties with respect to the transactions contemplated by the Transaction Documents other than those specifically
set forth in Article IV.


 






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Article VI

ADDITIONAL COVENANTS 


 


The Company covenants with
the Investor, and the Investor covenants with the Company, as follows, which covenants of one party are for the benefit of the other
party, during the Commitment Period (and with respect to the Company, for the period following the termination of this Agreement specified
in Section 8.3 pursuant to and in accordance with Section 8.3):


 


Section 6.1           Securities
Compliance. The Company shall notify the Commission and the Principal Market, if and as
applicable, in accordance with their respective rules and regulations, of the transactions contemplated by the Transaction Documents,
and shall take all necessary action, undertake all proceedings and obtain all registrations, permits, consents and approvals for the
legal and valid issuance of the Shares to the Investor in accordance with the terms of the Transaction Documents, as applicable.


 


Section 6.2           Reservation
of Common Stock. The Company has available and the Company shall reserve and keep available
at all times, free of preemptive and other similar rights of stockholders, the requisite aggregate number of authorized but unissued
shares of Common Stock to enable the Company to timely effect the issuance, sale and delivery of all Shares to be issued, sold and delivered
in respect of each Purchase effected under this Agreement, at least prior to the delivery by the Company to the Investor of the applicable
Purchase Notice in connection with such Purchase. Without limiting the generality of the foregoing, as of the Commencement Date the Company
shall have reserved, out of its authorized and unissued Common Stock, a number of shares of Common Stock equal to the Exchange Cap solely
for the purpose of effecting Purchases under this Agreement. The number of shares of Common Stock so reserved for the purpose of effecting
Purchases under this Agreement may be increased from time to time by the Company from and after the Commencement Date, and such number
of reserved shares may be reduced from and after the Commencement Date only by the number of Shares actually issued, sold and delivered
to the Investor pursuant to any Purchase effected from and after the Commencement Date pursuant to this Agreement.


 


Section 6.3           Registration
and Listing. The Company shall use its commercially reasonable efforts to cause the Common
Stock to continue to be registered as a class of securities under Sections 12(b) of the Exchange Act, and to comply with its reporting
and filing obligations under the Exchange Act, and shall not take any action or file any document (whether or not permitted by the Securities
Act or the Exchange Act) to terminate or suspend such registration or to terminate or suspend its reporting and filing obligations under
the Exchange Act or Securities Act, except as permitted herein. The Company shall use its commercially reasonable efforts to continue
the listing and trading of its Common Stock and the listing of the Shares purchased by the Investor hereunder on the Principal Market
and to comply with the Company’s reporting, filing and other obligations under the rules and regulations of the Principal
Market. The Company shall not take any action which could be reasonably expected to result in the delisting or suspension of the Common
Stock on the Principal Market. If the Company receives any final and non-appealable notice that the listing or quotation of
the Common Stock on then-existing Principal Market shall be terminated on a date certain, the Company shall promptly (and in any case
within 24 hours) notify the Investor of such fact in writing and shall use its commercially reasonable efforts to cause the Common Stock
to be listed or quoted on another Principal Market.


 






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Section 6.4           Compliance
with Laws.


 


(i)           During
the Commitment Period, the Company shall comply with applicable provisions of the Securities Act and the Exchange Act, including Regulation
M thereunder, applicable state securities or “Blue Sky” laws, and applicable listing rules of the Principal Market,
in connection with the transactions contemplated by this Agreement and the Registration Rights Agreement, except as would not, individually
or in the aggregate, prohibit or otherwise interfere with the ability of the Company to enter into and perform its obligations under
this Agreement in any material respect or for Investor to conduct resales of Shares under the Registration Statement in any material
respect.


 


(ii)           The
Investor shall comply with all laws, rules, regulations and orders applicable to the performance by it of its obligations under this
Agreement and its investment in the Shares, except as would not, individually or in the aggregate, prohibit or otherwise interfere with
the ability of the Investor to enter into and perform its obligations under this Agreement in any material respect. Without limiting
the foregoing, the Investor shall comply with all applicable provisions of the Securities Act and the Exchange Act, including Regulation
M thereunder, and all applicable state securities or “Blue Sky” laws, in connection with the transactions contemplated by
this Agreement and the Registration Rights Agreement.


 


Section 6.5           Keeping
of Records and Books of Account; Due Diligence.


 


(i)           During
the Commitment Period, the Investor and the Company shall each maintain records showing the remaining Total Commitment, and the dates
and Purchase Notice for each Purchase.


 


(ii)           Subject
to the requirements of Section 6.12, from time to time from and after the Closing Date, the Company shall make available
for inspection and review by the Investor during normal business hours and after reasonable notice, customary documentation reasonably
requested by the Investor and/or its appointed counsel or advisors to conduct due diligence; provided, however, that after
the Closing Date, the Investor’s continued due diligence shall not be a condition precedent to the Company’s right to deliver
to the Investor any Purchase Notice or the settlement thereof. Each party hereto agrees not to disclose any Confidential Information
of the other party to any third party without the prior written consent of the other party. Each party hereto acknowledges that the Confidential
Information shall remain the property of the disclosing party and agrees that it shall take all reasonable measures to protect the secrecy
of any Confidential Information disclosed by the other party.


 


Section 6.6           No
Frustration; No Equity Line Transactions.


 


(i)            No
Frustration. The Company shall not enter into, announce or recommend to its stockholders any agreement, plan, arrangement or
transaction in or of which the terms thereof would restrict, materially delay, conflict with or impair the ability or right of the Company
to perform its obligations under the Transaction Documents to which it is a party, including, without limitation, the obligation of the
Company to deliver the Shares to the Investor in respect of a Purchase. For the avoidance of doubt, nothing in this Section 6.6(i) shall
in any way limit the Company’s right to terminate this Agreement in accordance with Section 8.2 (subject in all cases
to Section 8.3).


 






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(ii)           No
Equity Line Transactions. Until the termination of this agreement, the Company shall not enter into any transactions, including,
but not limited to, an “equity line of credit” whereby the Company may sell Common Stock or Common Stock Equivalents at a
future determined price, other than in connection with an Exempt Issuance. The Investor shall be entitled to seek injunctive relief against
the Company and its Subsidiaries to preclude any such issuance, which remedy shall be in addition to any right to collect damages, without
the necessity of showing economic loss and without any bond or other security being required.


 


Section 6.7           Corporate
Existence. The Company shall take all steps necessary to preserve and continue the corporate
existence of the Company; provided, however, that, except as provided in Section 6.8, nothing in
this Agreement shall be deemed to prohibit the Company from engaging in any Fundamental Transaction with another Person. For the avoidance
of doubt, nothing in this Section 6.7 shall in any way limit the Company’s right to terminate this Agreement in accordance
with Section 8.2 (subject in all cases to Section 8.3).


 


Section 6.8           Fundamental
Transaction. If a Purchase Notice has been delivered to the Investor and the transactions
contemplated therein have not yet been fully settled in accordance with the terms and conditions of this Agreement, the Company shall
not effect any Fundamental Transaction until the expiration of five (5) Trading Days following the Valuation Period for the applicable
Purchase Notice.


 


Section 6.9           Selling
Restrictions.


 


(i)            Except
as expressly set forth below, the Investor covenants that from and after the Closing Date up to and including the Trading Day immediately
following the expiration or termination of this Agreement as provided in Article VIII (the “Restricted Period”),
none of the Investor, any of their respective officers, or any entity managed or controlled by the Investor or its sole member (collectively,
the “Restricted Persons” and each of the foregoing is referred to herein as a “Restricted Person”)
shall, directly or indirectly, (i) engage in any Short Sales of the Common Stock or (ii) engage in any hedging transaction,
which establishes a net short position with respect to the Common Stock, with respect to each of clauses (i) and (ii) hereof,
either for its own principal account or for the principal account of any other Restricted Person. Notwithstanding the foregoing, it is
expressly understood and agreed that nothing contained herein shall (without implication that the contrary would otherwise be true)
prohibit any Restricted Person during the Restricted Period from: (1) selling “long” (as defined under Rule 200
promulgated under Regulation SHO) the Shares; or (2) selling a number of shares of Common Stock equal to the number of Shares
that such Restricted Person is unconditionally obligated to purchase under a pending Purchase Notice.


 


(ii)            In
addition to the foregoing, in connection with any sale of Shares (including any sale permitted by paragraph (i) above), the Investor
shall comply in all respects with all applicable laws, rules, regulations and orders, including, without limitation, the requirements
of the Securities Act and the Exchange Act.


 






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Section 6.10           Effective
Registration Statement. During the Commitment Period, the Company shall use its commercially
reasonable efforts to maintain the continuous effectiveness of the Initial Registration Statement and each New Registration Statement
filed with the Commission under the Securities Act for the applicable Registration Period pursuant to and in accordance with the Registration
Rights Agreement.


 


Section 6.11           Blue
Sky. The Company shall take such action, if any, as is necessary by the Company in order
to obtain an exemption for or to qualify the Shares for sale by the Company to the Investor pursuant to the Transaction Documents, and
at the request of the Investor, the subsequent resale of Registrable Securities by the Investor, in each case, under applicable state
securities or “Blue Sky” laws and shall provide evidence of any such action so taken to the Investor from time to time following
the Closing Date; provided, however, that the Company shall not be required in connection therewith or as a condition
thereto to (x) qualify to do business in any jurisdiction where it would not otherwise be required to qualify but for this Section 6.11,
(y) subject itself to general taxation in any such jurisdiction, or (z) file a general consent to service of process in any
such jurisdiction.


 


Section 6.12           Non-Public Information.
Neither the Company or any of its Subsidiaries, nor any of their respective directors, officers, employees or agents shall disclose any
material nonpublic information about the Company to the Investor, unless a simultaneous public announcement thereof is made
by the Company in the manner contemplated by Regulation FD. In the event of a breach of the foregoing covenant by the Company or any
of its Subsidiaries, or any of their respective directors, officers, employees and agents (as determined in the reasonable good faith
judgment of the Investor), (i) the Investor shall promptly provide written notice of such breach to the Company and (ii) after
such notice has been provided to the Company and, provided that the Company shall have failed to demonstrate to the Investor in writing
within 24 hours that such information does not constitute material nonpublic information or the Company shall have failed to
publicly disclose such material nonpublic information within 24 hours following demand therefor by the Investor, in addition
to any other remedy provided herein or in the other Transaction Documents, if the Investor is holding any Shares at the time of the disclosure
of material nonpublic information, the Investor shall have the right to make a public disclosure with the Company’s prior
written consent (not to be unreasonably withheld or delayed), in the form of a press release, public advertisement or otherwise, of such
material nonpublic information; provided, that prior to making any such public disclosure, the Investor shall consult
with the Company and provide the Company with an opportunity to review and comment on such proposed disclosure, which comments the Investor
shall reasonably consider. The Investor shall not have any liability to the Company, any of its Subsidiaries, or any of their respective
directors, officers, employees, stockholders or agents, for any such disclosure.


 






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Section 6.13          Broker/Dealer.
The Investor shall use one or more broker-dealers to effectuate all sales, if any, of the Shares that it may purchase or otherwise acquire
from the Company pursuant to the Transaction Documents, as applicable, which (or whom) shall be a DTC participant (collectively, the
 “Broker-Dealer”). The Investor shall, from time to time, provide the Company and the Transfer Agent with all
information regarding the Broker-Dealer reasonably requested by the Company. The Investor shall be solely responsible for all fees and
commissions of the Broker-Dealer (if any), which shall not exceed customary brokerage fees and commissions and shall be responsible for
designating only a DTC participant eligible to receive DWAC Shares.


 


Section 6.14          Disclosure
Schedule.


 


(i)             The
Company may, from time to time, update a disclosure schedule (the “Disclosure Schedule”) as may be required to satisfy the
conditions set forth in Section 7.2(i) and Section 7.3(i) (to the extent such condition set forth in
Section 7.3(i) relates to the condition in Section 7.2(i) as of a specific Purchase Condition Satisfaction
Time). For purposes of this Section 6.14, any disclosure made in a schedule to the Compliance Certificate shall be deemed
to be an update of the Disclosure Schedule. Notwithstanding anything in this Agreement to the contrary, no update to the Disclosure Schedule
pursuant to this Section 6.14 shall cure any breach of a representation or warranty of the Company contained in this Agreement
and made prior to the update and shall not affect any of the Investor’s rights or remedies with respect thereto.


 


(ii)           Notwithstanding
anything to the contrary contained in the Disclosure Schedule or in this Agreement, the information and disclosure contained in any Schedule
of the Disclosure Schedule shall be deemed to be disclosed and incorporated by reference in any other Schedule of the Disclosure Schedule
as though fully set forth in such Schedule for which applicability of such information and disclosure is readily apparent on its face.
The fact that any item of information is disclosed in the Disclosure Schedule shall not be construed to mean that such information is
required to be disclosed by this Agreement. Except as expressly set forth in this Agreement, such information and the thresholds (whether
based on quantity, qualitative characterization, dollar amounts or otherwise) set forth herein shall not be used as a basis for interpreting
the terms “material” or “Material Adverse Effect” or other similar terms in this Agreement.


 






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Section 6.15          Delivery
of Bring Down Letters and Compliance Certificates Upon Occurrence of Certain Events. Within
three (3) Trading Days immediately following (i) the end of each PEA Period, if the Company is required under the Securities
Act to file with the Commission (A) a post-effective amendment to the Initial Registration Statement required to be filed by the
Company with the Commission pursuant to Section 2(a) of the Registration Rights Agreement, (B) a New Registration Statement
required to be filed by the Company with the Commission pursuant to Section 2(c) of the Registration Rights Agreement, or (C) a
post-effective amendment to a New Registration Statement required to be filed by the Company with the Commission pursuant to Section 2(c) of
the Registration Rights Agreement, in each case with respect to a fiscal year ending after the Commencement Date, to register the resale
of Shares by the Investor under the Securities Act pursuant to this Agreement and the Registration Rights Agreement, and (ii) the
date the Company files with the Commission (A) a Prospectus Supplement to the Prospectus contained in the Initial Registration Statement
or any New Registration Statement under the Securities Act, (B) an annual report on Form 10-K under the Exchange Act with
respect to a fiscal year ending after the Commencement Date, (C) an amendment on Form 10-K/A to an annual report on Form 10-K under
the Exchange Act with respect to a fiscal year ending after the Commencement Date, which contains amended material financial information
(or a restatement of material financial information) or an amendment to other material information contained in a previously filed Form 10-K, and
(D) a Commission Document under the Exchange Act (other than those referred to in clauses (ii)(A) and (ii)(B) of this
Section 6.15), which contains amended material financial information (or a restatement of material financial information)
or an amendment to other material information contained or incorporated by reference in the Initial Registration Statement, any New Registration
Statement, or the Prospectus or any Prospectus Supplement contained in the Initial Registration Statement or any New Registration Statement
(other than information “furnished” pursuant to Items 2.02 or 7.01 of Form 8-K or to provide disclosure pursuant to
Item 8.01 of Form 8-K relating to the reclassification of certain properties as discontinued operations in accordance with Statement
of Financial Accounting Standards No. 144) (it being hereby acknowledged and agreed that the filing by the Company with the Commission
of a quarterly report on Form 10-Q that includes only updated financial information as of the end of the Company’s most
recent fiscal quarter shall not, in and of itself, constitute an “amendment” or “restatement” for purposes of
clause (ii) of this Section 6.15), in each case of this clause (ii) if the Company is not also then required under
the Securities Act to file a post-effective amendment to the Initial Registration Statement, any New Registration Statement or a post-effective
amendment to any New Registration Statement, in each case with respect to a fiscal year ending after the Commencement Date, to register
the resale of Shares by the Investor under the Securities Act pursuant to this Agreement and the Registration Rights Agreement, and in
any case of this clause (ii), not more than once per calendar quarter, the Company shall deliver to the Investor a Compliance Certificate,
dated such date, and cause to be furnished to the Investor a negative assurance letter “bring-down” from outside counsel
to the Company substantially in the form mutually agreed to by the Company and the Investor prior to the Closing Date, modified, as necessary,
to relate to such Registration Statement or post-effective amendment, or the Prospectus contained therein as then amended or supplemented
by such Prospectus Supplement, as applicable (each such letter, a “Bring-Down Letter”).


  


Article VII

CONDITIONS TO CLOSING AND CONDITIONS TO THE SALE AND PURCHASE OF THE SHARES


 


Section 7.1           Conditions
Precedent to Closing. The Closing is subject to the satisfaction of each of the conditions
set forth in this Section 7.1 on the Closing Date.


 


(i)           Accuracy
of the Investor’s Representations and Warranties. The representations and warranties of the Investor contained in this
Agreement (a) that are not qualified by “materiality” shall be true and correct in all material respects as of the Closing
Date, except to the extent such representations and warranties are as of another date, in which case, such representations and warranties
shall be true and correct in all material respects as of such other date and (b) that are qualified by “materiality”
shall be true and correct as of the Closing Date, except to the extent such representations and warranties are as of another date, in
which case, such representations and warranties shall be true and correct as of such other date.


 






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(ii)           Accuracy
of the Company’s Representations and Warranties. The representations and warranties of the Company contained in this Agreement
(a) that are not qualified by “materiality” or “Material Adverse Effect” shall be true and correct in all
material respects as of the Closing Date, except to the extent such representations and warranties are as of another date, in which case,
such representations and warranties shall be true and correct in all material respects as of such other date and (b) that are qualified
by “materiality” or “Material Adverse Effect” shall be true and correct as of the Closing Date, except to the
extent such representations and warranties are as of another date, in which case, such representations and warranties shall be true and
correct as of such other date.


  


(iii)           Closing
Certificate. At the Closing, the Investor shall have received the closing certificate from the Company, dated the Closing Date,
in the form of Exhibit A hereto.


 


(iv)           Merger.
The Merger shall have been consummated in all material respects in accordance with the terms and conditions of the Merger Agreement.


 


(v)           Commitment
Fee. On the Closing Date, the Company shall have paid the Commitment Fee to the Investor, pursuant to and in accordance with
Section 10.1(ii) hereof.


 


Section 7.2            Conditions
Precedent to Commencement. The right of the Company to commence delivering Purchase Notices
under this Agreement, and the obligation of the Investor to accept Purchase Notices delivered to the Investor by the Company under this
Agreement (collectively, “Commencement”), are subject to the initial satisfaction of each of the conditions
set forth in this Section 7.2 (the date upon which all such conditions have been satisfied, the “Commencement
Date”).


 


(i)             Accuracy
of the Company’s Representations and Warranties. The representations and warranties of the Company contained in this Agreement
(a) that are not qualified by “materiality” or “Material Adverse Effect” shall have been true and correct
in all material respects when made and shall be true and correct in all material respects as of the Commencement Date with the same force
and effect as if made on such date, except to the extent such representations and warranties are as of another date, in which case, such
representations and warranties shall be true and correct in all material respects as of such other date and (b) that are qualified
by “materiality” or “Material Adverse Effect” shall have been true and correct when made and shall be true and
correct as of the Commencement Date with the same force and effect as if made on such date, except to the extent such representations
and warranties are as of another date, in which case, such representations and warranties shall be true and correct as of such other
date.


 


(ii)            Performance
of the Company. The Company shall have performed, satisfied and complied in all material respects with all covenants, agreements
and conditions required by this Agreement and the Registration Rights Agreement to be performed, satisfied or complied with by the Company
at or prior to the Commencement. The Company shall deliver to the Investor on the Commencement Date the compliance certificate substantially
in the form attached hereto as Exhibit B (the “Compliance Certificate”).


 


(iii)           Initial
Registration Statement Effective. The Initial Registration Statement covering the resale by the Investor of the Registrable Securities
included therein required to be filed by the Company with the Commission pursuant to Section 2(a) of the Registration Rights
Agreement shall have been declared effective under the Securities Act by the Commission, and the Investor shall be permitted to utilize
the Prospectus therein to resell all of the Shares included in such Prospectus.


 






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(iv)           No
Material Notices. None of the following events shall have occurred and be continuing: (a) receipt of any request by the
Commission or any other federal or state governmental authority for any additional information relating to the Initial Registration Statement,
the Prospectus contained therein or any Prospectus Supplement thereto, or for any amendment of or supplement to the Initial Registration
Statement, the Prospectus contained therein or any Prospectus Supplement thereto; (b) the issuance by the Commission or any other
federal or state governmental authority of any stop order suspending the effectiveness of the Initial Registration Statement or prohibiting
or suspending the use of the Prospectus contained therein or any Prospectus Supplement thereto, or of the suspension of qualification
or exemption from qualification of the Shares for offering or sale in any jurisdiction, or the initiation or contemplated initiation
of any proceeding for such purpose; or (c) the occurrence of any event or the existence of any condition or state of facts, which
makes any statement of a material fact made in the Initial Registration Statement, the Prospectus contained therein or any Prospectus
Supplement thereto untrue or which requires the making of any additions to or changes to the statements then made in the Initial Registration
Statement, the Prospectus contained therein or any Prospectus Supplement thereto in order to state a material fact required by the Securities
Act to be stated therein or necessary in order to make the statements then made therein (in the case of the Prospectus or any Prospectus
Supplement, in the light of the circumstances under which they were made) not misleading, or which requires an amendment to the Initial
Registration Statement or a supplement to the Prospectus contained therein or any Prospectus Supplement thereto to comply with the Securities
Act or any other law. The Company shall have no Knowledge of any event that could reasonably be expected to have the effect of causing
the suspension of the effectiveness of the Initial Registration Statement or the prohibition or suspension of the use of the Prospectus
contained therein or any Prospectus Supplement thereto in connection with the resale of the Registrable Securities (as defined in the
Registration Rights Agreement) by the Investor.


 


(v)           Other
Commission Filings. The Current Report shall have been filed with the Commission as required pursuant to Section 2.3.
The final Prospectus included in the Initial Registration Statement shall have been filed with the Commission prior to Commencement in
accordance with Section 2.3 and the Registration Rights Agreement. All reports, schedules, registrations, forms, statements,
information and other documents required to have been filed by the Company with the Commission pursuant to the reporting requirements
of the Exchange Act, including all material required to have been filed pursuant to Section 13(a) or 15(d) of the Exchange
Act, prior to Commencement shall have been filed with the Commission.


 


(vi)           No
Suspension of Trading in or Notice of Delisting of Common Stock. Trading in the Common Stock shall not have been suspended by
the Commission, the Principal Market or the FINRA (except for any suspension of trading of limited duration agreed to by the Company,
which suspension shall be terminated prior to the Commencement Date), the Company shall not have received any final and non-appealable notice
that the listing or quotation of the Common Stock on the then-existing Principal Market shall be terminated on a date certain (unless,
prior to such date certain, the Common Stock is listed or quoted on any other Principal Market), nor shall there have been imposed any
suspension of, or restriction on, accepting additional deposits of the Common Stock, electronic trading or book-entry services by DTC
with respect to the Common Stock that is continuing, the Company shall not have received any notice from DTC to the effect that a suspension
of, or restriction on, accepting additional deposits of the Common Stock, electronic trading or book-entry services by DTC with respect
to the Common Stock is being imposed or is contemplated (unless, prior to such suspension or restriction, DTC shall have notified the
Company in writing that DTC has determined not to impose any such suspension or restriction).


 






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(vii)         Compliance
with Laws. The Company shall have complied with all applicable federal, state and local governmental laws, rules, regulations
and ordinances in connection with the execution, delivery and performance of this Agreement and the other Transaction Documents to which
it is a party and the consummation of the transactions contemplated hereby and thereby, including, without limitation, the Company shall
have obtained all permits and qualifications required by any applicable state securities or “Blue Sky” laws for the offer
and sale of the Shares by the Company to the Investor and the subsequent resale of the Registrable Securities by the Investor (or shall
have the availability of exemptions therefrom).


 


(viii)         No
Injunction. No statute, regulation, order, decree, writ, ruling or injunction shall have been enacted, entered, promulgated,
threatened or endorsed by any court or governmental authority of competent jurisdiction which prohibits the consummation of or which
would materially modify or delay any of the transactions contemplated by the Transaction Documents.


 


(ix)           No
Proceedings or Litigation. No action, suit or proceeding before any arbitrator or any court or governmental authority shall have
been commenced, and no inquiry or investigation by any governmental authority shall have been commenced, against the Company or any Subsidiary,
or any of the officers, directors or Affiliates of the Company or any Subsidiary, seeking to restrain, prevent or change the transactions
contemplated by the Transaction Documents, or seeking material damages in connection with such transactions.


 


(x)            Listing
of Shares. All of the Shares that have been and may be issued pursuant to this Agreement (up to the Exchange Cap) shall have
been approved for listing or quotation on the Principal Market as of the Commencement Date, subject only to notice of issuance.


 


(xi)           No
Material Adverse Effect. No condition, occurrence, state of facts or event constituting a Material Adverse Effect shall have
occurred and be continuing.


 


(xii)          No
Bankruptcy Proceedings. No Person shall have commenced a proceeding against the Company pursuant to or within the meaning of
any Bankruptcy Law. The Company shall not have, pursuant to or within the meaning of any Bankruptcy Law, (a) commenced a voluntary
case, (b) consented to the entry of an order for relief against it in an involuntary case, (c) consented to the appointment
of a Custodian of the Company or for all or substantially all of its property, or (d) made a general assignment for the benefit
of its creditors. A court of competent jurisdiction shall not have entered an order or decree under any Bankruptcy Law that (I) is
for relief against the Company in an involuntary case, (II) appoints a Custodian of the Company or for all or substantially all
of its property, or (III) orders the liquidation of the Company or any of its Subsidiaries.


 






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(xiii)          Delivery
of Commencement Irrevocable Transfer Agent Instructions and Notice of Effectiveness. The Commencement Irrevocable Transfer Agent
Instructions shall have been executed by the Company and delivered to and acknowledged in writing by the Company’s transfer agent,
and the Notice of Effectiveness relating to the Initial Registration Statement shall have been delivered to the Transfer Agent, in each
case directing the Transfer Agent to issue to the Investor or its designated Broker-Dealer all of the Shares included in the Initial
Registration Statement as DWAC Shares in accordance with this Agreement and the Registration Rights Agreement.


 


(xiv)         Reservation
of Shares. As of the Commencement Date, the Company shall have reserved out of its authorized and unissued Common Stock a number
of shares of Common Stock equal to the Exchange Cap solely for the purpose of effecting Purchases under this Agreement.


 


(xv)          Opinions
of Company Counsel. On the Commencement Date, the Investor shall have received the opinions and negative assurances from outside
counsel to the Company, dated the Commencement Date, in the forms mutually agreed to by the Company and the Investor, such agreement
not to be unreasonably withheld, conditioned or delayed.


 


(xvi)         [Intentionally
Omitted]


 


Section 7.3            Conditions
Precedent to Purchases after Commencement Date. The right of the Company to deliver Purchase
Notices under this Agreement after the Commencement Date, and the obligation of the Investor to accept Purchase Notices under this Agreement
after the Commencement Date, are subject to the satisfaction of each of the conditions set forth in this Section 7.3 at the
applicable Purchase Commencement Time for the Purchase to be effected pursuant to the applicable Purchase Notice timely delivered by
the Company to the Investor in accordance with this Agreement (each such time, a “Purchase Condition Satisfaction Time”).


 


(i)            Satisfaction
of Certain Prior Conditions. Each of the conditions set forth in subsections (i), (ii), and (vii) through (xiv) set
forth in Section 7.2 shall be satisfied at the applicable Purchase Condition Satisfaction Time after the Commencement Date
(with the terms “Commencement” and “Commencement Date” in the conditions set forth in subsections (i) and
(ii) of Section 7.2 replaced with “applicable Purchase Condition Satisfaction Time”); provided, however,
that the Company shall not be required to deliver the Compliance Certificate after the Commencement Date, except as provided in Section 6.15
and Section 7.3(v).


 






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(ii)            Initial
Registration Statement Effective. The Initial Registration Statement covering the resale by the Investor of the Registrable Securities
included therein filed by the Company with the Commission pursuant to Section 2(a) of the Registration Rights Agreement, and
any post-effective amendment thereto required to be filed by the Company with the Commission after the Commencement Date and prior to
the applicable Purchase Date pursuant to the Registration Rights Agreement, in each case shall have been declared effective under the
Securities Act by the Commission and shall remain effective for the applicable Registration Period (as defined in the Registration Rights
Agreement), and the Investor shall be eligible to and permitted to utilize such registration statement and the Prospectus therein, and
any Prospectus Supplement thereto, to resell (a) all of the Shares included in the Initial Registration Statement, and any post-effective
amendment thereto, which such registered shares shall include all Shares that have been issued and sold to the Investor hereunder pursuant
to all Purchase Notices delivered by the Company to the Investor prior to such applicable Purchase Date and (b) all of the Shares
included in the Initial Registration Statement, and any post-effective amendment thereto, that are issuable pursuant to the applicable
Purchase Notice delivered by the Company to the Investor with respect to a Purchase to be effected hereunder on such applicable Purchase
Date.


 


(iii)           Any
Required New Registration Statement Effective. Any New Registration Statement covering the resale by the Investor of the Registrable
Securities included therein, and any post-effective amendment thereto, required to be filed by the Company with the Commission pursuant
to the Registration Rights Agreement after the Commencement Date and prior to the applicable Purchase Date, in each case shall have been
declared effective under the Securities Act by the Commission and shall remain effective for the applicable Registration Period, and
the Investor shall be eligible to and permitted to utilize such registration statement the Prospectus therein, and any Prospectus Supplement
thereto, to resell (a) all of the Shares included in such New Registration Statement, and any post-effective amendment thereto,
which such registered shares shall include all Shares that have been issued and sold to the Investor hereunder pursuant to all Purchase
Notices delivered by the Company to the Investor prior to such applicable Purchase Date and (b) all of the Shares included in the
Initial Registration Statement, and any post-effective amendment thereto, that are issuable pursuant to the applicable Purchase Notice
delivered by the Company to the Investor with respect to a Purchase to be effected hereunder on such applicable Purchase Date.


 


(iv)           Delivery
of Subsequent Irrevocable Transfer Agent Instructions and Notice of Effectiveness. With respect to any post-effective amendment
to the Initial Registration Statement, any New Registration Statement or any post-effective amendment to any New Registration Statement,
in each case declared effective by the Commission after the Commencement Date, the Company shall have delivered or caused to be delivered
to the Transfer Agent (a) irrevocable instructions in the form substantially similar to the Commencement Irrevocable Transfer Agent
Instructions executed by the Company and acknowledged in writing by the Transfer Agent and (b) the Notice of Effectiveness, in each
case modified as necessary to refer to such Registration Statement or post-effective amendment and the Registrable Securities included
therein, to issue the Registrable Securities included therein as DWAC Shares in accordance with the terms of this Agreement and the Registration
Rights Agreement.


 






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(v)           No
Material Notices. None of the following events shall have occurred and be continuing: (a) receipt of any request by the
Commission or any other federal or state governmental authority for any additional information relating to the Initial Registration Statement
or any post-effective amendment thereto, any New Registration Statement or any post-effective amendment thereto, or the Prospectus contained
in any of the foregoing or any Prospectus Supplement thereto, or for any amendment of or supplement to the Initial Registration Statement
or any post-effective amendment thereto, any New Registration Statement or any post-effective amendment thereto, or the Prospectus contained
in any of the foregoing or any Prospectus Supplement thereto; (b) the issuance by the Commission or any other federal or state governmental
authority of any stop order suspending the effectiveness of the Initial Registration Statement or any post-effective amendment thereto,
any New Registration Statement or any post-effective amendment thereto, or prohibiting or suspending the use of the Prospectus contained
in any of the foregoing or any Prospectus Supplement thereto, or of the suspension of qualification or exemption from qualification of
the Shares for offering or sale in any jurisdiction, or the initiation or contemplated initiation of any proceeding for such purpose;
or (c) the occurrence of any event or the existence of any condition or state of facts, which makes any statement of a material
fact made in the Initial Registration Statement or any post-effective amendment thereto, any New Registration Statement or any post-effective
amendment thereto, or the Prospectus contained in any of the foregoing or any Prospectus Supplement thereto untrue or which requires
the making of any additions to or changes to the statements then made in the Initial Registration Statement or any post-effective amendment
thereto, any New Registration Statement or any post-effective amendment thereto, or the Prospectus contained in any of the foregoing
or any Prospectus Supplement thereto in order to state a material fact required by the Securities Act to be stated therein or necessary
in order to make the statements then made therein (in the case of the Prospectus or any Prospectus Supplement, in the light of the circumstances
under which they were made) not misleading, or which requires an amendment to the Initial Registration Statement or any post-effective
amendment thereto, any New Registration Statement or any post-effective amendment thereto, or the Prospectus contained in any of the
foregoing or any Prospectus Supplement thereto to comply with the Securities Act or any other law (other than the transactions contemplated
by the applicable Purchase Notice delivered by the Company to the Investor with respect to a Purchase to be effected hereunder on such
applicable Purchase Date and the settlement thereof). The Company shall have no Knowledge of any event that could reasonably be expected
to have the effect of causing the suspension of the effectiveness of the Initial Registration Statement or any post-effective amendment
thereto, any New Registration Statement or any post-effective amendment thereto, or the prohibition or suspension of the use of the Prospectus
contained in any of the foregoing or any Prospectus Supplement thereto in connection with the resale of the Registrable Securities by
the Investor.


 


(vi)           Other
Commission Filings. The final Prospectus included in any post-effective amendment to the Initial Registration Statement, and
any Prospectus Supplement thereto, required to be filed by the Company with the Commission pursuant to Section 2.3 and the
Registration Rights Agreement after the Commencement Date and prior to the applicable Purchase Date, shall have been filed with the Commission
in accordance with Section 2.3 and the Registration Rights Agreement. The final Prospectus included in any New Registration
Statement and in any post-effective amendment thereto, and any Prospectus Supplement thereto, required to be filed by the Company with
the Commission pursuant to Section 2.3 and the Registration Rights Agreement after the Commencement Date and prior to the
applicable Purchase Date, shall have been filed with the Commission in accordance with Section 2.3 and the Registration Rights
Agreement. All reports, schedules, registrations, forms, statements, information and other documents required to have been filed by the
Company with the Commission pursuant to the reporting requirements of the Exchange Act, including all material required to have been
filed pursuant to Section 13(a) or 15(d) of the Exchange Act, after the Commencement Date and prior to the applicable
Purchase Date, shall have been filed with the Commission.


 






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(vii)          No
Suspension of Trading in or Notice of Delisting of Common Stock. Trading in the Common Stock shall not have been suspended by
the Commission, the Principal Market or the FINRA (except for any suspension of trading of limited duration agreed to by the Company,
which suspension shall be terminated prior to the applicable Purchase Date), the Company shall not have received any final and non-appealable notice
that the listing or quotation of the Common Stock on the then-existing Principal Market shall be terminated on a date certain (unless,
prior to such date certain, the Common Stock is listed or quoted on any other Principal Market), nor shall there have been imposed any
suspension of, or restriction on, accepting additional deposits of the Common Stock, electronic trading or book-entry services by DTC
with respect to the Common Stock that is continuing, the Company shall not have received any notice from DTC to the effect that a suspension
of, or restriction on, accepting additional deposits of the Common Stock, electronic trading or book-entry services by DTC with respect
to the Common Stock is being imposed or is contemplated (unless, prior to such suspension or restriction, DTC shall have notified the
Company in writing that DTC has determined not to impose any such suspension or restriction).


 


(viii)         Certain
Limitations. The issuance and sale of the Shares issuable pursuant to the applicable Purchase Notice shall not (a) exceed
the applicable Purchase Notice Limit, (b) cause the Beneficial Ownership Limitation to be exceeded, or (c) cause the Exchange
Cap (to the extent applicable under Section 3.3) to be exceeded, unless in the case of this clause (c), unless the Company’s
stockholders have theretofore approved the issuance of Common Stock under this Agreement in excess of the Exchange Cap in accordance
with the applicable rules of the Principal Market.


 


(ix)           Shares
Authorized and Delivered. All of the Shares issuable pursuant to the applicable Purchase Notice shall have been duly authorized
by all necessary corporate action of the Company. All Shares relating to all prior Purchase Notices required to have been received by
the Investor as DWAC Shares under this Agreement prior to the applicable Purchase Condition Satisfaction Time for the applicable Purchase
shall have been delivered to the Investor as DWAC Shares in accordance with this Agreement.


 


(x)            Bring-Down
Letter of Company Counsel and Compliance Certificates. The Investor shall have received (a) all Bring-Down Letter from outside
counsel to the Company for which the Company was obligated to instruct its outside counsel to deliver to the Investor prior to the applicable
Purchase Condition Satisfaction Time for the applicable Purchase and (b)  all Compliance Certificates from the Company that the
Company was obligated to deliver to the Investor prior to the applicable Purchase Condition Satisfaction Time for the applicable Purchase,
in each case in accordance with Section 6.15.


 






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Article VIII

TERMINATION


  


Section 8.1            Automatic
Termination. Unless earlier terminated as provided hereunder, this Agreement shall terminate
automatically on the earliest to occur of (i) December 31, 2024, (ii) the date on which the Investor shall have purchased
the Total Commitment worth of Shares pursuant to this Agreement, (iii)  the date on which (a) pursuant to or within the meaning
of any Bankruptcy Law, the Company commences a voluntary case or any Person commences a proceeding against the Company that is not discharged
within 30 days, (b) a Custodian is appointed for the Company or for all or substantially all of its property and (c) the Company
makes a general assignment for the benefit of its creditors, and (iv) the termination of the Merger Agreement, prior to the Merger’s
consummation, in accordance with its terms.


 


Section 8.2            Other
Termination. Subject to Section 8.3, the Company may terminate this Agreement
after the Commencement Date effective upon three (3) Trading Days’ prior written notice to the Investor in accordance with
Section 10.4; provided, however, that (i) the Company shall have delivered the Commitment Fee
to the Investor prior to such termination, and (ii) prior to issuing any press release, or making any public statement or announcement,
with respect to such termination, the Company shall consult with the Investor and its counsel on the form and substance of such press
release or other disclosure. Subject to Section 8.3, this Agreement may be terminated at any time by the mutual written consent
of the parties, effective as of the date of such mutual written consent unless otherwise provided in such written consent. Subject to
Section 8.3, the Investor shall have the right to terminate this Agreement effective upon three (3) Trading Days’
prior written notice to the Company in accordance with Section 10.4, if: (a) any condition, occurrence, state of facts
or event constituting a Material Adverse Effect has occurred and is continuing; (b) a Fundamental Transaction shall have occurred;
(c) the Company is in breach or default in any material respect of any of its covenants and agreements in the Registration Rights
Agreement, and, if such breach or default is capable of being cured, such breach or default is not cured within 15 Trading Days after
notice of such breach or default is delivered to the Company pursuant to Section 10.4 of this Agreement; (d) while a
Registration Statement, or any post-effective amendment thereto, is required to be maintained effective pursuant to the terms of the
Registration Rights Agreement and the Investor holds any Registrable Securities, the effectiveness of such Registration Statement, or
any post-effective amendment thereto, lapses for any reason (including, without limitation, the issuance of a stop order by the Commission)
or such Registration Statement or any post-effective amendment thereto, the Prospectus contained therein or any Prospectus Supplement
thereto otherwise becomes unavailable to the Investor for the resale of all of the Registrable Securities included therein in accordance
with the terms of the Registration Rights Agreement, and such lapse or unavailability continues for a period of 45 consecutive Trading
Days or for more than an aggregate of 90 Trading Days in any 365-day period, other than due to acts of the Investor; (e) trading
in the Common Stock on the Principal Market shall have been suspended and such suspension continues for a period of five (5) consecutive
Trading Days; or (f) the Company is in material breach or default of any of its covenants and agreements contained in this Agreement,
and, if such breach or default is capable of being cured, such breach or default is not cured within 15 Trading Days after notice of
such breach or default is delivered to the Company pursuant to Section 10.4 of this Agreement. Unless notification thereof
is required elsewhere in this Agreement (in which case such notification shall be provided in accordance with such other provision),
the Company shall promptly (but in no event later than 24 hours) notify the Investor (and, if required under applicable law, including,
without limitation, Regulation FD promulgated by the Commission, or under the applicable rules and regulations of the Principal
Market, the Company shall publicly disclose such information in accordance with Regulation FD and the applicable rules and regulations
of the Principal Market) upon becoming aware of any of the events set forth in the immediately preceding sentence.


 






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Section 8.3           Effect
of Termination. In the event of termination by the Company or the Investor (other than by
mutual termination) pursuant to Section 8.2, written notice thereof shall forthwith be given to the other party as provided
in Section 10.4 and the transactions contemplated by this Agreement shall be terminated without further action by either
party, provided that the Company shall have delivered the Commitment Fee. If this Agreement is terminated as provided in Section 8.1
or Section 8.2, this Agreement shall become void and of no further force and effect, except that (i) the provisions
of Article V (Representations, Warranties and Covenants of the Company), Article IX (Indemnification), Article X
(Miscellaneous) and this Article VIII (Termination) shall remain in full force and effect indefinitely notwithstanding
such termination, and, (ii) so long as the Investor owns any Shares, the covenants and agreements of the Company contained in Article VI
(Additional Covenants) shall remain in full force and notwithstanding such termination for a period of thirty (30) days following
such termination. Notwithstanding anything in this Agreement to the contrary, no termination of this Agreement by any party shall (i) become
effective prior to the second (2nd) Trading Day immediately following the Valuation Period for the applicable Purchase
Notice (it being hereby acknowledged and agreed that no termination of this Agreement shall limit, alter, modify, change or otherwise
affect any of the Company’s or the Investor’s rights or obligations under the Transaction Documents with respect to any pending
Purchase that has not fully settled, and that the parties shall fully perform their respective obligations with respect to any such pending
Purchase under the Transaction Documents), (ii) limit, alter, modify, change or otherwise affect the Company’s or the Investor’s
rights or obligations under the Registration Rights Agreement, all of which shall survive any such termination, or (iii)  affect
the Commitment Fee payable to the Investor pursuant to Section 10.1(ii), it being hereby acknowledged and agreed that the
entire amount of the Commitment Fee shall be fully earned by the Investor and shall be non-refundable as of the Closing Date, regardless
of whether any Purchases are made or settled hereunder or any subsequent termination of this Agreement. Nothing in this Section 8.3
shall be deemed to release the Company or the Investor from any liability for any breach or default under this Agreement, the Registration
Rights Agreement or any of the other Transaction Documents to which it is a party, or to impair the rights of the Company and the Investor
to compel specific performance by the other party of its obligations under this Agreement, the Registration Rights Agreement or any of
the other Transaction Documents to which it is a party.


 






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Article IX

INDEMNIFICATION


 


Section 9.1           Indemnification
of Investor. In consideration of the Investor’s execution and delivery of this Agreement
and acquiring the Shares hereunder and in addition to all of the Company’s other obligations under the Transaction Documents to
which it is a party, subject to the provisions of this Section 9.1, the Company shall indemnify and hold harmless the Investor,
each of its directors, officers, shareholders, members, partners, employees, representatives and agents (and any other Persons with a
functionally equivalent role of a Person holding such titles notwithstanding the lack of such title or any other title), each Person,
if any, who controls the Investor (within the meaning of Section 15 of the Securities Act or Section 20(a) of the Exchange
Act), and the respective directors, officers, shareholders, members, partners, employees, representatives and agents (and any other Persons
with a functionally equivalent role of a Person holding such titles notwithstanding the lack of such title or any other title) of such
controlling Persons (each, an “Investor Party”), from and against all losses, liabilities, obligations, claims,
contingencies, damages, costs and expenses (including all judgments, amounts paid in settlement, court costs, reasonable attorneys’
fees and costs of defense and investigation) (collectively, “Damages”) that any Investor Party may suffer or
incur as a result of or relating to (a) any breach of any of the representations, warranties, covenants or agreements made by the
Company in this Agreement or in the other Transaction Documents to which it is a party or (b) any action, suit, claim or proceeding
(including for these purposes a derivative action brought on behalf of the Company) instituted against such Investor Party arising out
of or resulting from the execution, delivery, performance or enforcement of the Transaction Documents, other than claims for indemnification
within the scope of Section 6 of the Registration Rights Agreement; provided, however, that (x) the
foregoing indemnity shall not apply to any Damages to the extent, but only to the extent, that such Damages resulted directly and primarily
from a breach of any of the Investor’s representations, warranties, covenants or agreements contained in this Agreement or the
Registration Rights Agreement, and (y) the Company shall not be liable under subsection (b) of this Section 9.1
to the extent, but only to the extent, that a court of competent jurisdiction shall have determined by a final judgment (from which no
further appeals are available) that such Damages resulted directly and primarily from any acts or failures to act, undertaken or omitted
to be taken by such Investor Party, through its fraud, bad faith, gross negligence, or willful or reckless misconduct.


 


The Company shall reimburse
any Investor Party promptly upon demand (with accompanying presentation of documentary evidence) for all legal and other costs and expenses
reasonably incurred by such Investor Party in connection with (i) any action, suit, claim or proceeding, whether at law or in equity,
to enforce compliance by the Company with any provision of the Transaction Documents or (ii) any other any action, suit, claim or
proceeding, whether at law or in equity, with respect to which it is entitled to indemnification under this Section 9.1; provided that
the Investor shall promptly reimburse the Company for all such legal and other costs and expenses to the extent a court of competent
jurisdiction determines that any Investor Party was not entitled to such reimbursement.


 


To the extent that the foregoing
undertakings by the Company set forth in this Section 9.1 may be unenforceable for any reason, the Company shall make the
maximum contribution to the payment and satisfaction of each of the Damages which is permissible under applicable law.


 






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Section 9.2           Indemnification
of the Company. In consideration of the Company’s execution and delivery of this Agreement
and sale of the Shares hereunder and in addition to all of the Investor’s other obligations under the Transaction Documents to
which it is a party, subject to the provisions of this Section 9.2, the Investor shall indemnify and hold harmless the Company,
its affiliates, each of their respective directors, officers, shareholders, members, partners, employees, representatives and agents
(and any other Persons with a functionally equivalent role of a Person holding such titles notwithstanding the lack of such title or
any other title), each Person, if any, who controls the Company (within the meaning of Section 15 of the Securities Act or Section 20(a) of
the Exchange Act), and the respective directors, officers, shareholders, members, partners, employees, representatives and agents (and
any other Persons with a functionally equivalent role of a Person holding such titles notwithstanding the lack of such title or any other
title) of such controlling Persons (each, a “Company Party”), from and against Damages that any Company Party
may suffer or incur as a result of or relating to any breach of any of the representations, warranties, covenants or agreements made
by the Investor in this Agreement or in the other Transaction Documents to which it is a party; provided, however,
that (x) the foregoing indemnity shall not apply to any Damages to the extent, but only to the extent, that such Damages resulted
directly and primarily from a breach of any of the Company’s representations, warranties, covenants or agreements contained in
this Agreement or the Registration Rights Agreement.


 


Section 9.3           Indemnification
Procedures.


 


(i)            Promptly
after an Investor Party receives notice of a claim or the commencement of an action for which the Investor Party intends to seek indemnification
under Section 9.1, the Investor Party will notify the Company in writing of the claim or commencement of the action, suit
or proceeding; provided, however, that failure to notify the Company will not relieve the Company from liability
under Section 9.1, except to the extent it has been materially prejudiced by the failure to give notice. The Company will
be entitled to participate in the defense of any claim, action, suit or proceeding as to which indemnification is being sought, and if
the Company acknowledges in writing the obligation to indemnify the Investor Party against whom the claim or action is brought, the Company
may (but will not be required to) assume the defense against the claim, action, suit or proceeding with counsel satisfactory to it. After
the Company notifies the Investor Party that the Company wishes to assume the defense of a claim, action, suit or proceeding, the Company
will not be liable for any further legal or other expenses incurred by the Investor Party in connection with the defense against the
claim, action, suit or proceeding except that if, in the opinion of counsel to the Investor Party, it would be inappropriate under the
applicable rules of professional responsibility for the same counsel to represent both the Company and such Investor Party. In such
event, the Company will pay the reasonable and documented fees and expenses of no more than one separate counsel for all such Investor
Parties reasonably promptly as such fees and expenses are incurred. Each Investor Party, as a condition to receiving indemnification
as provided in Section 9.1, will cooperate in all reasonable respects with the Company in the defense of any action or claim
as to which indemnification is sought. The Company will not be liable for any settlement of any action effected without its prior written
consent, which consent shall not be unreasonably withheld, delayed or conditioned. The Company will not, without the prior written consent
of the Investor Party, effect any settlement of a pending or threatened action with respect to which an Investor Party is, or is informed
that it may be, made a party and for which it would be entitled to indemnification, unless the settlement includes an unconditional release
of the Investor Party from all liability and claims which are the subject matter of the pending or threatened action.


 






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(ii)           In
order to provide for just and equitable contribution in circumstances in which the indemnification provided for in the foregoing paragraphs
of this Article IX for any reason is held to be unavailable or insufficient to hold an Investor Party harmless, the Company
and the Investor Party will contribute to the total losses, claims, liabilities, expenses and damages (including any investigative, legal
and other expenses reasonably incurred in connection with, and any amount paid in settlement of, any action, suit or proceeding or any
claim asserted) to which the Company and the Investor Party may be subject in such proportion as shall be appropriate to reflect the
relative benefits received by the Company, on the one hand, and the Investor, on the other hand. The relative benefits received by the
Company on the one hand and the Investor Party on the other hand shall be deemed to be in the same proportion as the total net proceeds
from the aggregate of all Purchase Amounts (before deducting expenses) received by the Company bear to the total proceeds received by
the Investor for the sale of Shares to bona fide third parties net of the aggregate Purchase Price paid to the Company therefor under
this Agreement. If, but only if, the allocation provided by the foregoing sentence is not permitted by applicable law, the allocation
of contribution shall be made in such proportion as is appropriate to reflect not only the relative benefits referred to in the foregoing
sentence but also the relative fault of the Company, on the one hand, and the Investor Party, on the other hand, with respect to such
loss, claim, liability, expense or damage, or action, as well as any other relevant equitable considerations with respect thereto. The
Company and the Investor agree that it would not be just and equitable if contributions pursuant to this Section 9.3(ii) were
to be determined by pro rata allocation or by any other method of allocation that does not take into account the equitable considerations
referred to herein. The amount paid or payable by an indemnified party as a result of the loss, claim, liability, expense, or damage,
or action in respect thereof, referred to above in this Section 9.3(ii) shall be deemed to include, for the purpose
of this Section 9.3(ii), any legal or other expenses reasonably incurred by such indemnified party in connection with investigating
or defending any such action or claim to the extent consistent with Section 9.3(i) hereof. Notwithstanding the foregoing
provisions of this Section 9.3(ii), the Investor shall not be required to contribute any amount in excess of the commissions
received by it under this Agreement. For purposes of this Section 9.3(ii), any person who controls a party to this Agreement
within the meaning of the Securities Act, any affiliates of such party and any officers, directors, partners, employees or agents of
such party or any of its affiliates, will have the same rights to contribution as that party, subject in each case to the provisions
hereof. Any party entitled to contribution, promptly after receipt of notice of commencement of any action against such party in respect
of which a claim for contribution may be made under this Section 9.3(ii), will notify any such party or parties from whom
contribution may be sought, but the omission to so notify will not relieve that party or parties from whom contribution may be sought
from any other obligation it or they may have under this Section 9.3(ii) except to the extent that the failure to so
notify such other party materially prejudiced the substantive rights or defenses of the party from whom contribution is sought. No party
will be liable for contribution with respect to any action or claim settled without its written consent if such consent is required pursuant
to Section 9.3(i) hereof.


 


The remedies provided for
in this Article X are not exclusive and shall not limit any rights or remedies which may otherwise be available to any Investor
Party at law or in equity.


 






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Article X

MISCELLANEOUS


 


Section 10.1        Certain
Fees and Expenses; Commitment Fee; Commencement Irrevocable Transfer Agent Instructions.


 


(i)           Certain
Fees and Expenses. Each party shall bear its own fees and expenses related to the transactions contemplated by this Agreement. The
Company shall pay all U.S. federal, state and local stamp and other similar transfer and other taxes and duties levied in connection
with issuance of the Shares to the Investor pursuant hereto.


 


(ii)           Commitment
Fee. In consideration for the Investor’s execution and delivery of this Agreement, on the Closing Date, the Company shall deliver
the Commitment Fee to the Investor, which such payment shall be made by wire transfer of immediately available funds to such account
as the Investor shall designate by written notice to the Company.


 


(iii)          Legends.
All Shares to be issued in respect of any Purchase delivered to the Investor pursuant to this Agreement shall be issued to the Investor
in accordance with Section 3.2 by crediting the Investor’s or its designees’ account at DTC as DWAC Shares, and
the Company shall not take any action or give instructions to any transfer agent of the Company otherwise.


 


(iv)          Irrevocable
Transfer Agent Instructions; Notice of Effectiveness. On the Effective Date of the Initial Registration Statement and prior to Commencement,
the Company shall deliver or cause to be delivered to its Transfer Agent (and thereafter, shall deliver or cause to be delivered to any
subsequent transfer agent of the Company), (i) irrevocable instructions executed by the Company and acknowledged in writing by the
Company’s transfer agent (the “Commencement Irrevocable Transfer Agent Instructions”) and (ii) the
notice of effectiveness of the Initial Registration Statement (the “Notice of Effectiveness”), in each case
directing the Transfer Agent to issue to the Investor or its designated Broker-Dealer at which the account or accounts to be credited
with the Shares being purchased by Investor are maintained any Registrable Securities included in the Initial Registration Statement
as DWAC Shares, if and when such Registrable Securities are issued in accordance with this Agreement and the Registration Rights Agreement.
With respect to any post-effective amendment to the Initial Registration Statement, any New Registration Statement or any post-effective
amendment to any New Registration Statement, in each case declared effective by the Commission after the Commencement Date, the Company
shall deliver or cause to be delivered to its Transfer Agent (and thereafter, shall deliver or cause to be delivered to any subsequent
transfer agent of the Company) (i) irrevocable instructions in the form substantially similar to the Commencement Irrevocable
Transfer Agent Instructions executed by the Company and acknowledged in writing by the Transfer Agent and (ii) the Notice of Effectiveness,
in each case modified as necessary to refer to such Registration Statement or post-effective amendment and the Registrable Securities
included therein, to issue the Registrable Securities included therein as DWAC Shares in accordance with the terms of this Agreement
and the Registration Rights Agreement. For the avoidance of doubt, all Shares to be issued in respect of any Purchase Notice delivered
to the Investor pursuant to this Agreement shall be issued to the Investor in accordance with Section 3.2 by crediting the
Investor’s account at DTC as DWAC Shares, and the Company shall not take any action or give instructions to any transfer agent
of the Company otherwise. The Company represents and warrants to the Investor that, while this Agreement is effective, no instruction
other than those referred to in this Section 10.1(iii) will be given by the Company to its Transfer Agent, or any successor
transfer agent of the Company, with respect to the Shares from and after Commencement, and the Registrable Securities covered by the
Initial Registration Statement or any post-effective amendment thereof, or any New Registration Statement or post-effective amendment
thereof, as applicable, shall otherwise be freely transferable on the books and records of the Company and no stop transfer instructions
shall be maintained against the transfer thereof. The Company agrees that if the Company fails to fully comply with the provisions of
this Section 10.1(iii) within three (3) Trading Days after the date on which the Investor has provided any deliverables
that the Investor may be required to provide to the Company or its Transfer Agent (if any), the Company shall, at the Investor’s
written instruction, purchase from the Investor all shares of Common Stock purchased or acquired by the Investor pursuant to this Agreement
that contain any restrictive legend or that have any stop transfer orders maintained that prohibit or impede the transfer thereof in
any respect at the greater of (i) the purchase price paid by the Investor for such shares of Common Stock (as applicable) and (ii) the
Closing Sale Price of the Common Stock on the date of the Investor’s written instruction.


 






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Section 10.2        Specific
Enforcement, Consent to Jurisdiction, Waiver of Jury Trial.


 


(i)           The
Company and the Investor acknowledge and agree that irreparable damage would occur in the event that any of the provisions of this Agreement
were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that either party shall
be entitled to an injunction or injunctions to prevent or cure breaches of the provisions of this Agreement by the other party and to
enforce specifically the terms and provisions hereof (without the necessity of showing economic loss and without any bond or other security
being required), this being in addition to any other remedy to which either party may be entitled by law or equity.


 


(ii)           Each
of the Company and the Investor (a) hereby irrevocably submits to the jurisdiction of the U.S. District Court and other courts of
the United States sitting in the State of New York, Borough of Manhattan, for the purposes of any suit, action or proceeding arising
out of or relating to this Agreement, and (b) hereby waives, and agrees not to assert in any such suit, action or proceeding, any
claim that it is not personally subject to the jurisdiction of such court, that the suit, action or proceeding is brought in an inconvenient
forum or that the venue of the suit, action or proceeding is improper. Each of the Company and the Investor consents to process being
served in any such suit, action or proceeding by mailing a copy thereof to such party at the address in effect for notices to it under
this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing in this
Section 10.2 shall affect or limit any right to serve process in any other manner permitted by law.


 






    39


     


    

 



 


(iii)             EACH
OF THE COMPANY AND THE INVESTOR HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL
BY JURY IN RESPECT TO ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY OR DISPUTES RELATING HERETO. EACH OF THE COMPANY AND THE INVESTOR (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT
OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION,
SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN TO ENTER INTO THIS AGREEMENT
BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS Section 10.2.


 


Section 10.3             Entire
Agreement. The Transaction Documents set forth the entire agreement and understanding of
the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, negotiations and understandings
between the parties, both oral and written, with respect to such matters. There are no promises, undertakings, representations or warranties
by either party relative to subject matter hereof not expressly set forth in the Transaction Documents. The Disclosure Schedule and all
exhibits to this Agreement are hereby incorporated by reference in, and made a part of, this Agreement as if set forth in full herein.


 


Section 10.4             Notices.
Any notice, demand, request, waiver or other communication required or permitted to be given hereunder shall be in writing and shall
be effective (a) upon hand delivery or electronic mail delivery at the address or number designated below (if delivered on a business
day during normal business hours where such notice is to be received), or the first business day following such delivery (if delivered
other than on a business day during normal business hours where such notice is to be received) or (b) on the second business day
following the date of mailing by express courier service, fully prepaid, addressed to such address, or upon actual receipt of such mailing,
whichever shall first occur. The address for such communications shall be:


 


If to the Company prior to the Closing:


 


ACE Convergence Acquisition Corp. 


1013 Centre Road, Suite 403S 


Wilmington, DE 19805 


Attention:          Denis
Tse 


Email:                 denis@acev.io


 


With a copy (which shall not constitute notice) to:


 


Skadden, Arps, Slate, Meagher & Flom LLP 


525 University Avenue, Suite 1400 


Palo Alto, CA 94301 


Attention:         Michael
Mies 


Email:                 michael.mies@skadden.com


 






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If to the Company after the Closing:


 


Tempo Automation Holdings, Inc. 


2460 Alameda St. 


San Francisco, CA 94103





Attention: Ryan Benton 


Email: rbenton@tempoautomation.com


 


With a copy (which shall not constitute notice)
to:


 


Latham & Watkins LLP 


811 Main Street, Suite 3700 


Houston, TX 77002 


Attention: Ryan J. Maierson 


Thomas G. Brandt 


Email:     ryan.maierson@lw.com 


thomas.brandt@lw.com


 


If to the Investor:


 


White Lion Capital, LLC

17631 Ventura Blvd., Suite 1008

Encino, CA 91316

Telephone Number: (818) 217-1706

Attention: Yash Thukral, Managing Director 


Email: team@whitelioncapital.com


 


With a copy (which shall not constitute
notice) to:


 


Greenburg Traurig, P.A. 


333 S.E. 2nd Avenue 


Miami, FL 33131 


Attention: John D. Owens III, Esq. 


Email: owensjohn@gtlaw.com


 


Either party hereto may from time to time change
its address for notices by giving at least five (5) days’ advance written notice of such changed address to the other
party hereto.


 


Section 10.5             Waivers.
No provision of this Agreement may be waived other than in a written instrument signed by the party against whom enforcement of such
waiver is sought. No failure or delay in the exercise of any power, right or privilege hereunder shall operate as a waiver thereof, nor
shall any single or partial exercise of any such power, right or privilege preclude other or further exercises thereof or of any other
right, power or privilege.


 


Section 10.6             Amendments.
No provision of this Agreement may be amended other than by a written instrument signed by both parties hereto.


 


Section 10.7              Headings.
The article, section and subsection headings in this Agreement are for convenience only and shall not constitute a part of this Agreement
for any other purpose and shall not be deemed to limit or affect any of the provisions hereof. Unless the context clearly indicates otherwise,
each pronoun herein shall be deemed to include the masculine, feminine, neuter, singular and plural forms thereof. The terms “including,”
 “includes,” “include” and words of like import shall be construed broadly as if followed by the words “without
limitation.” The terms “herein,” “hereunder,” “hereof” and words of like import refer to this
entire Agreement instead of just the provision in which they are found.


 









    41


     


    

 


Section 10.8             Construction.
The parties agree that each of them and their respective counsel has reviewed and had an opportunity to revise the Transaction Documents
and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party
shall not be employed in the interpretation of the Transaction Documents. In addition, each and every reference to share prices (including
the Floor Price) and number of shares of Common Stock in any Transaction Document shall, in all cases, be subject to adjustment for any
stock splits, stock combinations, stock dividends, recapitalizations, reorganizations and other similar transactions that occur on or
after the Closing Date. Any reference in this Agreement to “Dollars” or “$” shall mean the lawful currency of
the United States of America. Any references to “Section” or “Article” in this Agreement shall, unless otherwise
expressly stated herein, refer to the applicable Section or Article of this Agreement.


 


Section 10.9              Binding
Effect. This Agreement shall be binding upon and inure to the benefit of the parties hereto
and their respective successors. Neither the Company nor the Investor may assign this Agreement or any of their respective rights or
obligations hereunder to any Person.


 


Section 10.10             No
Third Party Beneficiaries. Except as expressly provided in Article IX, this
Agreement is intended only for the benefit of the parties hereto and their respective successors, and is not for the benefit of, nor
may any provision hereof be enforced by, any other Person.


 


Section 10.11             Governing
Law. This Agreement shall be governed by and construed in accordance with the internal procedural
and substantive laws of the State of New York, without giving effect to the choice of law provisions of such state that would cause the
application of the laws of any other jurisdiction.


 


Section 10.12             Survival.
The representations, warranties, covenants and agreements of the Company and the Investor contained in this Agreement shall survive the
execution and delivery hereof until the termination of this Agreement; provided, however, that (i) the provisions of Article VIII
(Termination), Article IX (Indemnification) and this Article X (Miscellaneous) shall remain in full force
and effect indefinitely for the longest period allowed under applicable laws notwithstanding such termination, and, (ii) so long
as the Investor owns any Shares, the covenants and agreements of the Company and the Investor contained in Article VI (Additional
Covenants), shall remain in full force and effect notwithstanding such termination for a period of thirty (30) days following such
termination.


 


Section 10.13             Counterparts.
This Agreement may be executed in two or more identical counterparts, all of which shall be considered one and the same agreement and
shall become effective when counterparts have been signed by each party and delivered to the other party; provided that a facsimile
signature or signature delivered by e-mail in a “.pdf” format data file, including any electronic signature complying
with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com, www.echosign.adobe.com, etc., shall be considered due execution
and shall be binding upon the signatory thereto with the same force and effect as if the signature were an original signature.


 









    42


     


    

 


Section 10.14             Publicity.
The Company shall afford the Investor and its counsel with a reasonable opportunity to review and comment upon, shall consult with the
Investor and its counsel on the form and substance of, and shall give due consideration to all such comments from the Investor or its
counsel on, any press release, Commission filing or any other public disclosure made by or on behalf of the Company relating to the Investor,
its purchases hereunder or any aspect of the Transaction Documents or the transactions contemplated thereby, prior to the issuance, filing
or public disclosure thereof. For the avoidance of doubt, the Company shall not be required to submit for review any such disclosure
(i) contained in periodic reports filed with the Commission under the Exchange Act if it shall have previously provided the same
disclosure to the Investor or its counsel for review in connection with a previous filing or (ii) any Prospectus Supplement if it
contains disclosure that does not reference the Investor, its purchases hereunder or any aspect of the Transaction Documents or the transactions
contemplated thereby.


 


Section 10.15             Severability.
The provisions of this Agreement are severable and, in the event that any court of competent jurisdiction shall determine that any one
or more of the provisions or part of the provisions contained in this Agreement shall, for any reason, be held to be invalid, illegal
or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provision or part of a provision
of this Agreement, and this Agreement shall be reformed and construed as if such invalid or illegal or unenforceable provision, or part
of such provision, had never been contained herein, so that such provisions would be valid, legal and enforceable to the maximum extent
possible.


 


Section 10.16             Further
Assurances. From and after the Closing Date, upon the request of the Investor or the Company,
each of the Company and the Investor shall execute and deliver such instrument, documents and other writings as may be reasonably necessary
or desirable to confirm and carry out and to effectuate fully the intent and purposes of this Agreement.


 


[Signature Pages Follow]


 






    43


     


    

 


IN WITNESS WHEREOF, the parties
hereto have caused this Agreement to be duly executed by their respective authorized officer as of the date first set forth above.


 


	 	ACE CONVERGENCE ACQUISITION CORP.
	 	 
	 	 
	 	By:	 
	 	Name:	 Behrooz Abdi
	 	Title: 	Chief Executive Officer
	 	 
	 	WHITE LION CAPITAL, LLC
	 	 
	 	 
	 	By:	 
	 	Name: 	Yash Thukral
	 	Title: 	Managing Director



 






    44


     


    

 


ANNEX
I TO THE


 


COMMON
STOCK PURCHASE AGREEMENT


 


DEFINITIONS


 


“Affiliate”
means any Person that, directly or indirectly through one or more intermediaries, controls, is controlled by, or is under common control
with a Person, as such terms are used in and construed under Rule 144.


 


“Agreement”
shall have the meaning assigned to such term in the preamble of this Agreement.


 


“Average Daily
Trading Volume” shall mean the median daily trading volume of the Company’s Common Stock over the most recent five
(5) Trading Days prior to the respective Purchase Notice Date, as reported by Bloomberg.


 


“Bankruptcy Law”
means Title 11, U.S. Code, or any similar U.S. federal or state law for the relief of debtors.


 


“Beneficial Ownership
Limitation” shall have the meaning assigned to such term in Section 3.4.


 


“Bloomberg”
means Bloomberg, L.P.


 


“Bring-Down Letter”
shall have the meaning assigned to such term in Section 6.15.


 


“Broker-Dealer”
shall have the meaning assigned to such term in Section 6.13.


 


“Business Day”
means any Trading Day.


 


“Bylaws”
shall have the meaning assigned to such term in Section 5.3.


 


“Charter”
shall have the meaning assigned to such term in Section 5.3.


 


“Closing”
shall have the meaning assigned to such term in Section 2.2.


 


“Closing Date”
means the date of the Closing.


 


“Closing Sale
Price” means, for the Common Stock as of any date, the last closing trade price for the Common Stock on the Principal Market,
as reported by Bloomberg, or, if the Principal Market begins to operate on an extended hours basis and does not designate the closing
trade price for the Common Stock, then the last traded price for the Common Stock prior to 4:00 p.m., New York City time, as reported
by Bloomberg. All such determinations shall be appropriately adjusted for any stock splits, stock dividends, stock combinations, recapitalizations
or other similar transactions during such period.


 









    


     


    

 


“Commencement”
shall have the meaning assigned to such term in Section 7.2.


 


“Commencement
Date” shall have the meaning assigned to such term in Section 7.2.


 


“Commencement
Irrevocable Transfer Agent Instructions” shall have the meaning assigned to such term in Section 10.1(iv).


 


“Commission”
means the U.S. Securities and Exchange Commission or any successor entity.


 


“Commission Documents”
shall mean (i) with respect to any date prior to the Commencement Date, all filings made to the Commission by the Company under
the Securities Act or the Exchange Act and (ii) with respect to the Commencement Date and any date thereafter, each effective Registration
Statement, as amended, the Prospectus contained therein and each Prospectus Supplement thereto and all information contained in such
filings and all documents and disclosures that have been or are deemed to be incorporated by reference therein.


 


“Commitment Fee”
means $1,000,000.


 


“Commitment Period”
means the period commencing on the Effective Date of the Initial Registration Statement and expiring on the date this Agreement is terminated
pursuant to Article VIII.


 


“Common Stock”
shall have the meaning assigned to such term in the recitals of this Agreement.


 


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


 


“Company”
shall have the meaning assigned to such term in the preamble of this Agreement.


 


“Company Party”
shall have the meaning assigned to such term in Section 9.2.


 


“Compliance Certificate”
shall have the meaning assigned to such term in Section 7.2(ii).


 


“Confidential
Information” means non-public proprietary and confidential information and materials a party, which proprietary and confidential
information and material is not generally known or available to the public or other third parties on a nonconfidential basis.


 


“Contract”
means any written or oral legally binding contract, agreement, understanding, arrangement, subcontract, loan or credit agreement, note,
bond, indenture, mortgage, purchase order, deed of trust, lease, sublease, instrument, or other legally binding commitment, obligation
or undertaking.


 






    2


     


    

 


“Current Report”
shall have the meaning assigned to such term in Section 2.3.


 


“Custodian”
shall mean any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law.


 


“Damages”
shall have the meaning assigned to such term in Section 9.1.


 


“DTC”
means The Depository Trust Company, a subsidiary of The Depository Trust & Clearing Corporation, or any successor thereto.


 


“DWAC”
shall have the meaning assigned to such term in Section 5.32.


 


“DWAC Shares”
means shares of Common Stock issued pursuant to this Agreement that are (i) issued in electronic form, (ii) freely tradable
and transferable and without restriction on resale and without stop transfer instructions maintained against the transfer thereof and
(iii) timely credited by the Company to the Investor’s or its designated Broker-Dealer at which the account or accounts to
be credited with the Shares being purchased by Investor are maintained specified DWAC account with DTC under its Fast Automated Securities
Transfer (FAST) Program, or any similar program hereafter adopted by DTC performing substantially the same function.


 


“Effective Daily
Trading Volume” shall mean the median daily trading volume of the Company’s Common Stock over the most recent five
(5) Trading Days prior to the respective Effective Date, as reported by Bloomberg.


 


“Effective Date”
means, with respect to the Initial Registration Statement filed pursuant to Section 2(a) of the Registration Rights Agreement
(or any post-effective amendment thereto) or any New Registration Statement filed pursuant to Section 2(c) of the Registration
Rights Agreement (or any post-effective amendment thereto), as applicable, the date on which the Initial Registration Statement (or any
post-effective amendment thereto) or any New Registration Statement (or any post-effective amendment thereto) is declared effective by
the Commission.


 


“Encumbrance”
means any security interest, pledge, hypothecation, mortgage, lien or encumbrance, covenant, condition, restriction, easement, charge,
right of first refusal or first offer, or other restriction on title or transfer of any nature whatsoever.


 


“Environmental
Law” means any statute, law, ordinance, regulation, rule or code concerning or relating to: (i) the protection
of the environment or natural resources or, as such relates to exposure to Hazardous Materials, human health and safety (including workplace
and industrial hygiene); (ii) the presence, Release, generation, use, management, handling, transportation, treatment, storage or
disposal of Hazardous Materials; (iii) noise or odor including, without limitation, in the United States, the Comprehensive Environmental
Response, Compensation, and Liability Act, 42 U.S.C. § 9601, et seq.; the Solid Waste Disposal Act, as amended by the Resource Conservation
and Recovery Act of 1976, 42 U.S.C. 6901, et seq.; the Toxic Substances Control Act, 15 U.S.C. 2601, et seq.; the Federal Water Pollution
Control Act, 33 U.S.C. 1251, et seq.; the Hazardous Materials Transportation Act, 49 U.S.C. 5101; the Safe Drinking Water Act, 42 U.S.C.
300f, et seq.; as it relates to exposure to Hazardous Materials, the Occupational Safety and Health Act, 29 U.S.C. 651, et seq.; the
Emergency Planning and Community Right to Know Act of 1986, 42 U.S.C. 11001, et seq.; the Atomic Energy Act, 42 U.S.C. 2014, et seq.;
the Endangered Species Act, 16 U.S.C. 1531, et seq.; the Federal Insecticide, Fungicide, and Rodenticide Act, 7 U.S.C. 136, et seq.;
the Clean Air Act, 42 U.S.C. 7401, et seq.; and the state and local analogues of each of the foregoing federal statutes.


 






    3


     


    

 


“Environmental
Permit” means any Permit, approval, identification number, registration, exemption or license required pursuant to any
applicable Environmental Law.


 


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


 


“Exchange Cap”
shall have the meaning assigned to such term in Section 3.3(a) hereof.


 


“Exempt Issuance”
means the issuance of (i) Common Stock, options or other equity incentive awards to employees, officers, directors or vendors of
the Company pursuant to any equity incentive plan duly adopted for such purpose, by the Company’s Board of Directors or a majority
of the members of a committee of the Board of Directors established for such purpose, (ii) (a) any Shares issued to the Investor
pursuant to this Agreement, (b) any securities issued upon the exercise or exchange of or conversion of any shares of Common Stock
or Common Stock Equivalents held by the Investor at any time, or (c) any securities issued upon the exercise or exchange of or conversion
of any Common Stock Equivalents issued and outstanding on the date of this Agreement, provided that such securities referred to in this
clause (c) have not been amended since the date of this Agreement to increase the number of such securities or to decrease the exercise
price, exchange price or conversion price of such securities, (iii) securities issued pursuant to acquisitions, divestitures, licenses,
partnerships, collaborations or strategic transactions approved by the Company’s Board of Directors or a majority of the members
of a committee of directors established for such purpose, provided that any such issuance shall only be to a Person (or to the equity
holders of a Person) which is, itself or through its subsidiaries, an operating company or an asset in a business synergistic with the
business of the Company and shall provide to the Company additional benefits in addition to the investment of funds, but shall not include
a transaction in which the Company is issuing securities primarily for the purpose of raising capital or to an entity whose primary business
is investing in securities, (iv) Common Stock issued by the Company to the Investor or an Affiliate of the Investor in connection
with any “equity line of credit” or other continuous offering or similar offering of Common Stock pursuant to a written agreement
between the Company and the Investor or an Affiliate of the Investor, whereby the Company may sell Common Stock to the Investor or an
Affiliate of the Investor at a future determined price or (vii) securities issued pursuant to any Fundamental Transaction.


 


“FINRA”
means the Financial Industry Regulatory Authority.


 


“Floor Price”
means $1.00, which shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split
or other similar transaction and, effective upon the consummation of any such reorganization, recapitalization, non-cash dividend,
stock split or other similar transaction, the “Floor Price” shall mean the lower of (i) such adjusted price and (ii) $1.00.


 






    4


     


    

 


“Fundamental
Transaction” means that (i) the Company shall, directly or indirectly, in one or more related transactions, (1) consolidate
or merge with or into (whether or not the Company is the surviving corporation) another Person, with the result that the holders of the
Company’s capital stock immediately prior to such consolidation or merger together beneficially own less than 50% of the outstanding
voting power of the surviving or resulting corporation, or (2) sell, lease, license, assign, transfer, convey or otherwise dispose
of all or substantially all of the properties or assets of the Company to another Person, or (3) take action to facilitate a purchase,
tender or exchange offer by another Person that is accepted by the holders of more than 50% of the outstanding shares of Common Stock
(excluding any shares of Common Stock held by the Person or Persons making or party to, or associated or affiliated with the Persons
making or party to, such purchase, tender or exchange offer), or (4) consummate a stock or share purchase agreement or other business
combination (including, without limitation, a reorganization, recapitalization, spin-off or scheme of arrangement) with another
Person whereby such other Person acquires more than 50% of the outstanding shares of Common Stock (not including any shares of Common
Stock held by the other Person or other Persons making or party to, or associated or affiliated with the other Persons making or party
to, such stock or share purchase agreement or other business combination), or (5) reorganize, recapitalize or reclassify its Common
Stock, or (ii) any “person” or “group” (as these terms are used for purposes of Sections 13(d) and
14(d) of the Exchange Act) is or shall become the “beneficial owner” (as defined in Rule 13d-3 under the Exchange
Act), directly or indirectly, of 50% of the aggregate ordinary voting power represented by issued and outstanding Common Stock.


  


“GAAP”
shall have the meaning assigned to such term in Section 5.6(b).


 


“Hazardous Material”
means any substance, material, or other matter regulated as toxic or hazardous, or as a contaminant or for which standards are imposed,
by any governmental authority because of its deleterious impact on the environment including but not limited to petroleum and petroleum
byproduct and distillates, asbestos and asbestos-containing materials, urea formaldehyde, polychlorinated biphenyls, mold, radon gas,
radioactive substances, and poly- and perfluoroalkyl substances.


 


“Initial Registration
Statement” shall have the meaning assigned to such term in the Registration Rights Agreement.


 


“Intellectual
Property” means all intellectual property and intellectual property rights of every kind and description throughout the
world, including all U.S. and non-U.S.: (a) trademarks, trade dress, service marks, certification marks, logos, slogans, design
rights, names, corporate names, trade names, Internet domain names, URLs, social media accounts and addresses and other similar
designations of source or origin, together with the goodwill symbolized by any of the foregoing; (b) patents and patent applications,
and any and all related national or international counterparts thereto, including any divisionals, continuations, continuations-in-part, reissues,
reexaminations, substitutions and extensions thereof; (c) copyrights and copyrightable subject matter, including databases, data
collections (including knowledge databases, customers lists and customer databases) and rights therein, web site content, rights to compilations,
collective works and derivative works, and the right to create collective and derivative works; (d) rights in Software; (e) rights
under applicable trade secret law and any and all other confidential or proprietary information, know-how, inventions, processes,
formulae, models, and methodologies including research in progress, algorithms, data, databases, data collections, designs, processes,
formulae, drawings, schematics, blueprints, flow charts, models, strategies, prototypes, techniques, source code, source code documentation,
beta testing procedures and beta testing results (collectively, “Trade Secrets”); (f) all applications
and registrations, renewals and extensions for the foregoing; and (g) all rights and remedies against past, present, and future
infringement, misappropriation or other violation thereof.


 






    5


     


    

 


“Investor”
shall have the meaning assigned to such term in the preamble of this Agreement.


 


“Investor Party”
shall have the meaning assigned to such term in Section 9.1.


 


“IT Systems and
Data” shall have the meaning assigned to such term in Section 5.34.


 


“Knowledge”
means the actual knowledge of the Company’s Chief Executive Officer, the Company’s President, and the Company’s Chief
Financial Officer, in each case after reasonable inquiry of all officers, directors and employees of the Company and its Subsidiaries
who would reasonably be expected to have knowledge or information with respect to the matter in question.


 


“Material Adverse
Effect” means (i) any condition, occurrence, state of facts or event having, or insofar as reasonably can be foreseen
would likely have, any material adverse effect on the legality, validity or enforceability of the Transaction Documents or the transactions
contemplated thereby, (ii) any condition, occurrence, state of facts or event having, or insofar as reasonably can be foreseen would
likely have, any effect on the business, operations, properties or financial condition of the Company that is material and adverse to
the Company and its Subsidiaries, taken as a whole, and/or (iii) any condition, occurrence, state of facts or event that would,
or insofar as reasonably can be foreseen would likely, prohibit or otherwise materially interfere with or delay the ability of the Company
to perform any of its obligations under any of the Transaction Documents to which it is a party; provided, however, that with
respect to clause (ii), in no event would any of the following (or the effect of any of the following), alone or in combination, be deemed
to constitute, or be taken into account in determining whether there has been or will be, a “Material Adverse Effect”
(except in the case of clause (a), (b), (d) and (f), in each case, to the extent that such event, change, circumstance or development
disproportionately affects the Company and its Subsidiaries, taken as a whole, as compared to other Persons operating in any of the industries
in which the Company or any of its Subsidiaries operates): (a) any change or development after the Closing Date in applicable laws
or GAAP or any official interpretation thereof, (b) any change or development after the Closing Date in interest rates or economic,
political, legislative, regulatory, financial, commodity, currency, bitcoin mining, cryptocurrency, electricity or natural gas conditions
or other market conditions generally affecting any of the foregoing, the economy or the industry in which the Company or any of its Subsidiaries
operates, (c) the announcement or the execution of this Agreement and the Registration Rights Agreement, or the performance of the
Company’s obligations under the Transaction Documents, including the impact thereof on relationships, contractual or otherwise,
with customers, suppliers, licensors, distributors, regulatory agencies, partners, providers and employees (provided, that the exceptions
in this clause (c) shall not be deemed to apply to references to “Material Adverse Effect” in the representations and
warranties set forth in Section 5.5 and, to the extent related thereto, the conditions in Section 7.1(ii) and
Section 7.2(i)), (d) any change or development generally affecting any of the industries or markets in which the Company
or any of its Subsidiaries operates, (e) any earthquake, hurricane, tsunami, tornado, flood, mudslide, wildfire or other natural
disaster, epidemic, disease outbreak, pandemic (including the COVID-19 or SARS-CoV-2 virus (or any mutation or variation
thereof or related health condition)), weather condition, explosion, fire, act of God or other force majeure event (other than any such
event resulting in material destruction or permanent damage to the Company powerplant and/or a material portion of the equipment located
therein, all of which may be taken into account for purposes of determining whether a Material Adverse Effect has occurred or is reasonably
likely to occur), or (f) any national or international political or social conditions in countries in which, or in the proximate
geographic region of which, the Company operates, including the engagement by the United States or such other countries in hostilities
or the escalation thereof, whether or not pursuant to the declaration of a national emergency or war, or the occurrence or the escalation
of any military or terrorist attack (including any internet or “cyber” attack or hacking) upon the United States or such
other country, or any territories, possessions, or diplomatic or consular offices of the United States or such other countries or upon
any United States or such other country military installation, equipment or personnel.


 






    6


     


    

 


“Material Contracts”
means any other Contract that is expressly referred to in or filed or incorporated by reference as an exhibit to a Commission Document
or that, individually or in the aggregate, if terminated or subject to default by a party thereto, would have or would reasonably be
expected to have, individually or in the aggregate, a Material Adverse Effect.


 


“Merger Closing”
means the consummation of the transactions contemplated by the Merger Agreement.


 


“New Registration
Statement” shall have the meaning assigned to such term in the Registration Rights Agreement.


 


“Notice of Effectiveness”
shall have the meaning assigned to such term in Section 10.1(iii).


 


“PEA Period”
means the period commencing at 9:30 a.m., New York City time, on the fifth (5th) Trading Day immediately prior to the filing of
any post-effective amendment to the Initial Registration Statement or any New Registration Statement, and ending at 9:30 a.m., New York
City time, on the Trading Day immediately following, the Effective Date of such post-effective amendment.


 


“Percentage Limit”
shall mean 80%.


 


“Permits”
shall have the meaning assigned to such term in Section 5.17(a).


 






    7


     


    

 


“Permitted Encumbrances”
means (a) liens for taxes not yet due or delinquent or the validity or amount of which is being contested in good faith by appropriate
proceedings and for which adequate accruals or reserves have been established in accordance with GAAP on the applicable financial statements;
(b) mechanics’, materialmens’, carriers’, workers’, repairers’ and other similar Encumbrances or security
obligations incurred in the ordinary course of business and arising by operation of law or the validity or amount of which is being contested
in good faith by appropriate proceedings; (c) pledges, deposits or other Encumbrances securing the performance of bids, trade Contracts,
leases or statutory obligations (including workers’ compensation, unemployment insurance or other social security legislation);
(d) Encumbrances and other imperfections of title that do not materially impair the use or occupancy of the property to which they
relate in the conduct of the business of the Company and its Subsidiaries as currently conducted; (e) Encumbrances arising under
conditional sales Contracts and equipment leases with third parties and other Encumbrances arising on assets and products sold in the
ordinary course of business consistent with past practice and non-exclusive licenses of Intellectual Property entered into
in the ordinary course of business consistent with past practice; (f) landlords’ liens and Encumbrances on leases, subleases,
easements, licenses, rights of use, rights to access and rights of way arising therefrom or benefiting or created by any superior estate,
right or interest; (g) any zoning, entitlement, conservation restriction and other land use and environmental regulations by governmental
authorities; (h) all covenants, conditions, restrictions, easements, charges, rights-of-way and other similar matters
of record or that would be disclosed by an accurate survey or inspection of the real property, in each case that do not materially impair
the use or occupancy of the property to which they relate in the conduct of the business of the Company and its Subsidiaries as currently
conducted; (i) Encumbrances identified in the financial statements included or incorporated by reference in the Commission Documents;
(j) Encumbrances created or incurred under the equipment financing arrangements or equipment loans; and (k) Encumbrances on
equity or debt securities resulting from applicable securities laws.


  


“Person”
means any person or entity, whether a natural person, trustee, corporation, partnership, limited partnership, limited liability company,
trust, unincorporated organization, business association, firm, joint venture, governmental agency or authority.


 


“Principal Market”
shall mean (i) the Nasdaq Capital Market or (ii) in the event that the Common Stock is ever listed or traded on any other national
exchange (i.e. NYSE, AMEX, Nasdaq) or principal quotation system (i.e. OTCQX, OTCQB, OTC Pink, the OTC Bulletin Board), such market or
exchange that is at the applicable time the principal trading platform, market or exchange for the Common Stock.


 


“Prospectus”
means the prospectus in the form included in a Registration Statement, as supplemented from time to time by any Prospectus Supplement,
including the documents incorporated by reference therein.


 


“Prospectus Supplement”
means any prospectus supplement to the Prospectus filed with the Commission from time to time pursuant to Rule 424(b) under
the Securities Act, including the documents incorporated by reference therein.


 


“Purchase”
shall have the meaning assigned to such term in Section 3.1.


 


“Purchase Amount”
shall have the meaning assigned to such term in Section 3.2.


 


“Purchase Commencement
Time” means, with respect to a Purchase made pursuant to Section 3.1, 9:30:01 a.m., New York City time, on
the applicable Purchase Date.


 






    8


     


    

 


“Purchase Condition
Satisfaction Time” shall have the meaning assigned to such term in Section 7.3.


  


“Purchase Date”
means, with respect to a Purchase made pursuant to Section 3.1, the Trading Day on which the Investor receives the Purchase
Notice Shares pursuant to each valid Purchase Notice as DWAC Shares in its brokerage account if received before 9:00 a.m. New York
City Time, unless waived by Investor. If the Purchase Notice Shares are received after 9:00 a.m. New York City Time, the next Trading
Day shall be the Purchase Date.


 


“Purchase Limit”
the lower of (i) Purchase Notice Fixed Limit and (ii) the Purchase Notice Variable Limit.


 


“Purchase Notice”
means, with respect to a Purchase made pursuant to Section 3.1, an irrevocable written notice, substantially in the form
Exhibit C hereto, delivered by the Company to the Investor directing the Investor to purchase Purchase Notice Shares (such
specified Purchase Notice Shares subject to adjustment as set forth in Section 3.1 as necessary to give effect to the Purchase
Notice Limit), at the applicable Purchase Price therefor on the applicable Purchase Settlement Date for such Purchase in accordance with
this Agreement.


 


“Purchase Notice
Date” means, with respect to a Purchase made pursuant to Section 3.1, the Trading Day that a Purchase Notice
shall be deemed delivered on (i) the Trading Day it is received by email by the Investor if such notice is received on or prior
to 4:00 p.m. New York time or (ii) the next Business Day if it is received by email after 4:00 p.m. New York time on a
Trading Day or at any time on a day which is not a Trading Day.


 


“Purchase Notice
Fixed Limit” shall mean $2,000,000.


 


“Purchase Notice
Limit” means, with respect to a Purchase made pursuant to Section 3.1, a number of shares of Common Stock equal
to the lesser of (i) a number of shares of Common Stock which, when aggregated with all other shares of Common Stock then beneficially
owned by the Investor and its affiliates (as calculated pursuant to Section 13(d) of the Exchange Act and Rule 13d-3 promulgated
thereunder), would result in the beneficial ownership by the Investor of more than the Beneficial Ownership Limitation,
(ii) a number of shares of Common Stock equal to the product of A) the Average Daily Trading Volume and B) the Percentage Limit,
and (iii) number of shares of Common Stock equal to quotient obtained by dividing A) Purchase Limit with B) Closing Sale Price of
the Common Stock on the day prior to the Purchase Notice Date.


 


“Purchase Notice
Shares” means, with respect to a Purchase made pursuant to Section 3.1, the number of Shares to be purchased
by the Investor in such Purchase as specified by the Company in the applicable Purchase Notice, which number of Shares shall not exceed
the applicable Purchase Notice Limit, subject to adjustment provided herein.


 


“Purchase Notice
Variable Limit” shall mean the dollar amount equal to the product of (i) the Effective Daily Trading Volume (ii) the
closing price of Common Stock on the Effective Date, and (iii) the Percentage Limit.


 






    9


     


    

 


“Purchase Price”
shall be equal to (a) ninety-seven percent (97%) multiplied by the lowest daily VWAP that occurs during the applicable Valuation
Period until an aggregate of $50,000,000 of the Total Commitment has been purchased under this Agreement, and thereafter (b) ninety-nine
percent (99%) multiplied by the lowest daily VWAP that occurs during the applicable Valuation Period.


  


“Purchase Settlement
Date” shall have the meaning assigned to such term in Section 3.1.


 


“Registrable
Securities” shall have the meaning assigned to such term in the Registration Rights Agreement.


 


“Registration
Rights Agreement” shall have the meaning assigned to such term in the recitals hereof.


 


“Registration
Statement” shall have the meaning assigned to such term in the Registration Rights Agreement.


 


“Regulation D”
shall have the meaning assigned to such term in the recitals of this Agreement.


 


“Release”
means disposing, discharging, injecting, spilling, leaking, pumping, pouring, leaching, dumping, emitting, escaping or emptying into
or upon, from, or migrating through of Hazardous Materials, within or into, the air or any soil, sediment, subsurface strata, surface
water or groundwater, natural resources or structure.


 


“Remedial Action”
means any action required to investigate, clean up, remove or remediate, or conduct remedial, responsive, monitoring or corrective actions
with respect to, any presence or Release of Hazardous Materials.


 


“Restricted Period”
shall have the meaning assigned to such term in Section 6.9(i).


 


“Restricted Person”
shall have the meaning assigned to such term in Section 6.9(i).


 


“Restricted Persons”
shall have the meaning assigned to such term in Section 6.9(i).


 


“Rule 144”
means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time,
or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect.


 


“Sanctions”
shall have the meaning assigned to such term in Section 5.33.


 


“Section 4(a)(2)”
shall have the meaning assigned to such term in the recitals of this Agreement.


 


“Securities Act”
shall mean the Securities Act of 1933, as amended, and the rules and regulations of the Commission thereunder.


 






    10


     


    

 


“Shares”
shall mean the shares of Common Stock that are and/or may be purchased by the Investor under this Agreement pursuant to one or more Purchase
Notices.





 


“Short Sales”
shall mean “short sales” as defined in Rule 200 promulgated under Regulation SHO under the Exchange Act.


 


“Software”
means any computer programs (whether in source code, object code or other form, and including software-as-a-service), algorithms,
databases, compilations and data technology supporting the foregoing, and all documentation, including user manuals and training materials,
related to any of the foregoing.


 


“Subsidiary”
shall mean any corporation or other entity of which at least a majority of the securities or other ownership interest having ordinary
voting power for the election of directors or other persons performing similar functions are at the time owned directly or indirectly
by the Company and/or any of its other Subsidiaries.


 


“Suspension of
Trading” shall mean trading of the Common Stock have been suspended by the SEC or the Principal Market, or otherwise halted
for any reason, and the Common Stock shall have been approved for listing or quotation on and shall not have been delisted from or no
longer quoted on the Principal Market.  A Suspension of Trading shall be deemed to have occurred on a given day if an event
of a suspension, delisting, or halting happens for any reason and for any length of time.


 


“Total Commitment”
shall have the meaning assigned to such term in Section 2.1.


 


“Trading Day”
shall mean any day on which the Principal Market is open for regular-way trading, including any day on which the Principal Market is
open for regular-way trading.


 


“Transaction
Documents” means, collectively, this Agreement (as qualified by the Commission Documents) and the exhibits hereto, the
Registration Rights Agreement and the exhibits thereto, and each of the other agreements, documents, certificates and instruments entered
into or furnished by the parties hereto in connection with the transactions contemplated hereby and thereby.


 


“Transfer Agent”
means Continental Stock Transfer & Trust Company, or any successor transfer agent of the Company.


 


“Valuation Period”
shall mean the three (3) consecutive Trading Days commencing on the Purchase Date. For avoidance of doubt, the Purchase Date shall
be the first Trading Day in the Valuation Period. In the event of a Suspension of Trading occurring during the Valuation Period, the
Valuation Period shall increase by the number of Trading Days in which a Suspension of Trading has occurred.


 






    11


     


    

 


“VWAP”
means, for any security as of any date, the dollar volume-weighted average price for such security on the Principal Market, during the
period beginning at 9:30 a.m., New York time, and ending at 4:00 p.m., New York time, as reported by E*TRADE Securities LLC or Bloomberg
through its “VWAP” function (set to 09:30 start time and 16:00 end time) or, if the foregoing does not apply, the dollar
volume-weighted average price of such security in the over-the-counter market on the electronic bulletin board for such security during
the period beginning at 9:30 a.m., New York time, and ending at 4:00 p.m., New York time, as reported by Bloomberg, or, if no dollar
volume-weighted average price is reported for such security by Bloomberg for such hours, the average of the highest closing bid price
and the lowest closing ask price of any of the market makers for such security as reported in the “pink sheets” by OTC Markets
Group Inc. (formerly Pink Sheets LLC). If the VWAP cannot be calculated for such security on such date on any of the foregoing bases,
the VWAP of such security on such date shall be the fair market value as mutually determined by the Company and the Investor. If the
Company and the Investor are unable to agree upon the fair market value of such security, then such dispute shall be resolved in accordance
with the procedures in Section 10.16. All such determinations shall be appropriately adjusted for any share dividend, share
split, share combination, recapitalization or other similar transaction during such period.


 






    12


     


    

 


EXHIBIT A
TO THE

COMMON STOCK PURCHASE AGREEMENT

CERTIFICATE OF THE COMPANY


 


CLOSING CERTIFICATE


 


[____]


 


The undersigned, the [____]
of Tempo Automation Holdings, Inc. (formerly known as ACE Convergence Acquisition Corp.), a Delaware corporation (the “Company”),
delivers this certificate in connection with the Common Stock Purchase Agreement, dated as of November 21, 2022 (the “Agreement”),
by and between the Company and White Lion Capital, LLC, a Nevada limited liability company (the “Investor”),
and hereby certifies on the Closing Date that (capitalized terms used herein without definition have the meanings assigned to them in
the Agreement):


 


1.            Attached
hereto as Exhibit A is a true, complete and correct copy of the Amended and Restated Certificate of Incorporation of the
Company, as amended through the date hereof, as filed with the Secretary of State of the State of Delaware (the “Certificate
of Incorporation”). The Certificate of Incorporation of the Company has not been further amended or restated, and no document
with respect to any amendment to the Certificate of Incorporation of the Company has been filed in the office of the Secretary of State
of the State of Delaware since the date shown on the face of the state certification relating to the Certificate of Incorporation, which
is in full force and effect on the date hereof, and no action has been taken by the Company in contemplation of any such amendment or
the dissolution, merger or consolidation of the Company.


 


2.            Attached
hereto as Exhibit B is a true and complete copy of the Amended and Restated Bylaws of the Company, as amended and restated
through, and as in full force and effect on, the date hereof (the “Bylaws”), and no proposal for any amendment,
repeal or other modification to the Bylaws of the Company has been taken or is currently pending before the Board of Directors or stockholders
of the Company.


 


3.            The
Board of Directors of the Company has approved the transactions contemplated by the Transaction Documents; said approval has not been
amended, rescinded or modified and remains in full force and effect as of the date hereof. Attached hereto as Exhibit C are
true, correct and complete copies of the resolutions duly adopted by the Board of Directors of the Company via unanimous written consent
on [____].


 


4.            Each
person who, as an officer of the Company, or as attorney-in-fact of an officer of the Company, signed the Transaction Documents
to which the Company is a party, was duly elected, qualified and acting as such officer or duly appointed and acting as such attorney-in-fact, and
the signature of each such person appearing on any such document is his genuine signature.


 






    13


     


    

 


IN WITNESS WHEREOF, I
have signed my name as of the date first above written.


 


	 	

    Name: 

    Title:
	[____]

    [____]



 






    14


     


    

 


EXHIBIT B
TO THE

COMMON STOCK PURCHASE AGREEMENT

COMPLIANCE CERTIFICATE


 


The undersigned, the [____]
of Tempo Automation Holdings, Inc. (formerly known as ACE Convergence Acquisition Corp.), a Delaware corporation (the “Company”),
delivers this certificate in connection with the Common Stock Purchase Agreement, dated as of November 21, 2022 (the “Agreement”),
by and between the Company and White Lion Capital, LLC, a Nevada limited liability company (the “Investor”),
and hereby certifies on the date hereof that, to the best of his knowledge after reasonable investigation, on behalf of the Company (capitalized
terms used herein without definition have the meanings assigned to them in the Agreement):


 


1.             The
undersigned is the duly appointed [____] of the Company.


 


2.              Except
as set forth in the Commission Documents, the representations and warranties of the Company set forth in Article V of the
Agreement (i) that are not qualified by “materiality” or “Material Adverse Effect” are true
and correct in all material respects as of [the Commencement Date] [the date hereof] with the same force and effect as if made on [the
Commencement Date] [the date hereof], except to the extent such representations and warranties are as of another date, in which case,
such representations and warranties are true and correct in all material respects as of such other date and (ii) that are qualified
by “materiality” or “Material Adverse Effect” are true and correct as of [the Commencement Date] [the date hereof]
with the same force and effect as if made on [the Commencement Date] [the date hereof], except to the extent such representations and
warranties are as of another date, in which case, such representations and warranties are true and correct as of such other date.


 


3.              The
Company has performed, satisfied and complied in all material respects with all covenants, agreements and conditions required by the
Agreement and the Registration Rights Agreement to be performed, satisfied or complied with by the Company [at or prior to Commencement][on
or prior to the date hereof].


 


4.             The
Shares issuable in respect of each Purchase Notice effected pursuant to the Agreement shall be delivered to the Investor electronically
as DWAC Shares, and shall be freely tradable and transferable and without restriction on resale and without any stop transfer instructions
maintained against such Shares.


 


5.             As
of [the Commencement Date][the date hereof], the Company does not possess any material nonpublic information.


 


6.             As
of [the Commencement Date][the date hereof], the Company has reserved out of its authorized and unissued Common Stock [____] shares of
Common Stock solely for the purpose of effecting Purchases under the Agreement.


 


7.             No
stop order suspending the effectiveness of the Registration Statement or the use of the Prospectus under the Securities Act has been
issued and no proceedings for such purpose or pursuant to Section 8A of the Securities Act are pending before or, to the knowledge
of the Company, threatened by the Commission.


 






    1


     


    

 


The undersigned has executed
this Certificate this [____] day of [____], 20[____].


 


	 	By:
	 

    

    

	 	Name:	 
	 	Title:	 


 



    2


     


    

 


EXHIBIT C

FORM OF PURCHASE NOTICE

TO: WHITE LION CAPITAL, LLC


 


We refer to the common stock
purchase agreement, dated as of November 21, 2022, (the “Agreement”), entered into by and between Tempo
Automation Holdings, Inc. (formerly known as ACE Convergence Acquisition Corp.) and White Lion Capital, LLC. Capitalized terms defined
in the Agreement shall, unless otherwise defined herein, have the same meaning when used herein.


 


We hereby:


 


1)            Give
you notice that we require you to purchase __________ Purchase Notice Shares pursuant to the Agreement.


 


2)            Certify
that, as of the date hereof, the conditions set forth in Section 7.2 and Section 7.3 of the Agreement are satisfied.


 


	 	Tempo Automation Holdings, Inc.

     

    

    

    

	 	By:	 
	 	Name:	 
	 	Title: