Exhibit 4.2


 


AMENDMENT NO. 1 TO 


WARRANT TO PURCHASE COMMON STOCK


 


This AMENDMENT NO.
1 TO COMMON STOCK PURCHASE WARRANT (this “Amendment”) dated as of October [ ] 2019, (the “Effective
Date”) is entered into by Summit Wireless Technologies, Inc. (the “Company”), and [ ] or its assigns
(the “Holder”) of the Original Warrant (as defined below).


 


WHEREAS, the Holder
is the registered holder hereof or its permitted assigns (the “Holder”),
was issued that certain WARRANT TO PURCHASE COMMON STOCK, by the Company, dated [ ]; and


 


WHEREAS, the
Holder is entitled to purchase from Company, at the Exercise Price (as defined below) then in effect, upon exercise of a Warrant
to Purchase Common Stock (including any Warrants to Purchase Common Stock issued in exchange, transfer or replacement hereof, the
“Original Warrant”), certain fully paid and non-assessable shares of Common Stock (as defined below) the (“Warrant
Shares”); and


 


WHEREAS,
the Holder and the Company have recently been made aware that the Original Warrant inadvertently omitted certain sections customarily
found in such documents; and


 


WHEREAS, the parties
desire that the Original Warrant be amended to reflect the addition of these certain provisions as specified below.


 


NOW, THEREFORE, in
consideration of the foregoing, and of the mutual representations, warranties, covenants, and agreements herein contained, the
parties hereto agree as follows:


 


Agreement


 


Section 1. Defined
Terms. Unless otherwise indicated herein, all terms which are capitalized but are not otherwise defined herein shall have
the meaning ascribed to them in the Original Warrant.1


 


Section 2. Amendments to Original
Warrant.


 


		(a)	Section 2(a) of the Original Warrant is hereby amended by the addition of the following clause
to the first sentence of Section 2(a): “Subject to the terms and conditions hereof (including without limitation, the limitations
set forth in Section 2(e),” such that, the first sentence of Section 2(a) shall now read:



 


“Subject to the terms
and conditions hereof (including, without limitation, the limitations set forth in Section 2(e), exercise of the purchase rights
represented by this Warrant may be made, in whole or in part, at any time or times on or after the Original Issue Date and on or
before the Termination Date by delivery to the Company (or such other office or agency of the Company as the Company may designate
by notice in writing to the registered Holder at the address of the Holder appearing on the books of the Company) of a duly executed
facsimile copy of the Notice of Exercise form annexed hereto and within three (3) trading days of the date said Notice of Exercise
is delivered to the Company, the Company shall have received payment of the aggregate Exercise Price of the Common Stock thereby
purchased by wire transfer to an account designated by the Company or cashier’s check drawn on a United States bank or, if
available, pursuant to the cashless exercise procedure specified in Section 2(c) below.”


 





 




 1
To account for the Company’s conversion from a limited liability company to a corporation, in the Original
Warrant, all references to “Warrant Units” shall be replaced by “Warrant Shares” and all references to
 “Common Unit” shall be replaced with “Common Shares,” which shall mean the Company’s common stock,
par value $0.0001 per share.




 






    


     


    

 


		(b)	Section 2 of the Original Warrant is hereby amended by the addition of the following Subsection:



 


“(e) Holder’s
Exercise Limitations. Notwithstanding anything to the contrary contained herein, the Company shall not effect the exercise
of any portion of this Warrant, and the Holder shall not have the right to exercise any portion of this Warrant pursuant to the
terms and conditions of this Warrant and any such exercise shall be null and void and treated as if never made, to the extent that
after giving effect to such exercise, the Holder together with the other Attribution Parties (as defined below) collectively would
beneficially own in excess of 9.99% (the “Maximum Percentage”) of the number of shares of Common Stock outstanding
immediately after giving effect to such exercise. For purposes of the foregoing sentence, the aggregate number of shares of Common
Stock beneficially owned by the Holder and the other Attribution Parties shall include the number of shares of Common Stock held
by the Holder and all other Attribution Parties plus the number of shares of Common Stock issuable upon exercise of this Warrant
with respect to which the determination of such sentence is being made, but shall exclude the number of shares of Common Stock
which would be issuable upon (A) exercise of the remaining, nonexercised portion of this Warrant beneficially owned by the Holder
or any of the other Attribution Parties and (B) exercise or conversion of the unexercised or nonconverted portion of any other
securities of the Company (including, without limitation, any convertible notes or convertible preferred stock or warrants) beneficially
owned by the Holder or any other Attribution Party subject to a limitation on conversion or exercise analogous to the limitation
contained in this Section 2(e). For purposes of this Section 2(e), beneficial ownership shall be calculated in accordance with
Section 13(d) of the Securities Exchange Act of 1934, as amended (the “1934 Act”). For purposes of this Warrant,
in determining the number of outstanding shares of Common Stock the Holder may acquire upon the exercise of this Warrant without
exceeding the Maximum Percentage, the Holder may rely on the number of outstanding shares of Common Stock as reflected in (x) the
Company’s most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q, Current Report on Form 8-K or other public
filing with the Securities and Exchange Commission (“SEC”), as the case may be, (y) a more recent public announcement
by the Company or (z) any other written notice by the Company or the Company’s transfer agent, if any, setting forth the
number of shares of Common Stock outstanding (the “Reported Outstanding Share Number”). If the Company receives
a Notice of Exercise from the Holder at a time when the actual number of outstanding shares of Common Stock is less than the Reported
Outstanding Share Number, the Company shall notify the Holder in writing of the number of shares of Common Stock then outstanding
and, to the extent that such Notice of Exercise would otherwise cause the Holder’s beneficial ownership, as determined pursuant
to this Section 2(e), to exceed the Maximum Percentage, the Holder must notify the Company of a reduced number of shares of Common
Stock to be purchased pursuant to such Notice of Exercise (the number of shares by which such purchase is reduced, the “Reduction
Shares”) and (ii) as soon as reasonably practicable, the Company shall return to the Holder any exercise price paid by
the Holder for the Reduction Shares. For any reason at any time, upon the written or oral request of the Holder, the Company shall
within one (1) Business Day confirm orally and in writing or by electronic mail to the Holder the number of shares of Common Stock
then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the
conversion or exercise of securities of the Company, including this Warrant, by the Holder and any other Attribution Party since
the date as of which the Reported Outstanding Share Number was reported. In the event that the issuance of shares of Common Stock
to the Holder upon exercise of this Warrant results in the Holder and the other Attribution Parties being deemed to beneficially
own, in the aggregate, more than the Maximum Percentage of the number of outstanding shares of Common Stock (as determined under
Section 13(d) of the 1934 Act), the number of shares so issued by which the Holder’s and the other Attribution Parties’
aggregate beneficial ownership exceeds the Maximum Percentage (the “Excess Shares”) shall be deemed null and
void and shall be cancelled ab initio, and the Holder shall not have the power to vote or to transfer the Excess Shares. As soon
as reasonably practicable after the issuance of the Excess Shares has been deemed null and void, the Company shall return to the
Holder the exercise price paid by the Holder for the Excess Shares. Upon delivery of a written notice to the Company, the Holder,
in its sole discretion, may from time to time increase or decrease the Maximum Percentage to any other percentage not in excess
of 9.99% as specified in such notice; provided, however, that (i) any such increase in the Maximum Percentage will not be effective
until the sixty-first (61st) day after such notice is delivered to the Company and (ii) any such increase or decrease will apply
only to the Holder and the other Attribution Parties and not to any other holder of the Warrants that is not an Attribution Party
of the Holder; and provided, further, that this Maximum Percentage shall not apply to any Holder whose beneficial ownership, without
regard to this Warrant exceeds 9.99%. For purposes of clarity, the shares of Common Stock issuable pursuant to the terms of this
Warrant hereunder in excess of the Maximum Percentage shall not be deemed to be beneficially owned by the Holder for any purpose
including for purposes of Section 13(d) or Rule 16a-1(a)(1) of the 1934 Act. No prior inability to exercise this Warrant pursuant
to this paragraph shall have any effect on the applicability of the provisions of this paragraph with respect to any subsequent
determination of exercisability. The provisions of this paragraph shall be construed and implemented in a manner otherwise than
in strict conformity with the terms of this Section 2(e) to the extent necessary to correct this paragraph (or any portion of this
paragraph) which may be defective or inconsistent with the intended beneficial ownership limitation contained in this Section 2(e)
or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitation contained in
this paragraph may not be waived and shall apply to a successor holder this Warrant. For the purpose of this Agreement: (x) “Attribution
Parties” means, collectively, the following Persons and entities: (i) any investment vehicle, including, any funds, feeder
funds or managed accounts, currently, or from time to time after the Original Issue Date of this Warrant, directly or indirectly
managed or advised by the Holder’s investment manager or any of its Affiliates or principals, (ii) any direct or indirect
Affiliates of the Holder or any of the foregoing, (iii) any Person acting or who could be deemed to be acting as a Group together
with the Holder or any of the foregoing and (iv) any other Persons whose beneficial ownership of the Company’s Common Stock
would or could be aggregated with the Holder’s and the other Attribution Parties for purposes of Section 13(d) of the 1934
Act. For clarity, the purpose of the foregoing is to subject collectively the Holder and all other Attribution Parties to the Maximum
Percentage, (y) “Group” means a “group” as that term is used in Section 13(d) of the 1934 Act and
as defined in Rule 13d-5 thereunder and (z) “Affiliate” means, with respect to any Person, any other Person
that directly or indirectly controls, is controlled by, or is under common control with, such Person, it being understood for purposes
of this definition that “control” of a Person means the power directly or indirectly either to vote 10% or more of
the stock having ordinary voting power for the election of directors of such Person or direct or cause the direction of the management
and policies of such Person whether by contract or otherwise.”


 






    -2-


     


    

 


		(c)	Section 3 of the Original Warrant is hereby amended by deleting Section 3 in its entirety and replacing
it with the following:



 


“(a) Stock Splits and
Dividends. If the Company at any time on or after the Original Issue Date subdivides (by any stock split, stock dividend, recapitalization
or otherwise) one or more classes of its outstanding Common Stock into a greater number of shares, the Exercise Price in effect
immediately prior to such subdivision will be proportionately reduced and the number of Warrant Shares will be proportionately
increased. If the Company at any time on or after the Original Issue Date combines (by combination, reverse stock split or otherwise)
one or more classes of its outstanding Common Stock into a smaller number of shares, the Exercise Price in effect immediately prior
to such combination will be proportionately increased and the number of Warrant Shares will be proportionately decreased. Any adjustment
under this Section 3(b) shall become effective at the close of business on the date the subdivision or combination becomes effective.


 


(b) Subsequent Rights Offerings.
In addition to any adjustments pursuant to Section 3(a) above, if at any time the Company grants, issues or sells any Common Stock
(or securities with similar characteristics) or rights to purchase stock, warrants, securities or other property pro rata to the
record holders of any class of shares of Common Stock (the “Purchase Rights”), then the Holder will be entitled
to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired
if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to
any limitations on exercise hereof, including without limitation, the Maximum Percentage) immediately before the date on which
a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which
the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights (provided,
however, to the extent that the Holder’s right to participate in any such Purchase Right would result in the Holder exceeding
the Maximum Percentage, then the Holder shall not be entitled to participate in such Purchase Right to such extent (or beneficial
ownership of such shares of Common Stock as a result of such Purchase Right to such extent) and such Purchase Right to such extent
shall be held in abeyance for the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding
the Maximum Percentage).


 






    -3-


     


    

 


(c) Fundamental Transaction.
If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in one or more related transactions
effects any merger or consolidation of the Company with or into another Person, (ii) the Company, directly or indirectly, effects
any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially all of its assets in one
or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange offer (whether by
the Company or another Person) is completed pursuant to which holders of Common Stock are permitted to sell, tender or exchange
their shares for other securities, cash or property and has been accepted by the holders of 50% or more of the outstanding Common
Stock, (iv) the Company, directly or indirectly, in one or more related transactions effects any reclassification, reorganization
or recapitalization of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted
into or exchanged for other securities, cash or property, or (v) the Company, directly or indirectly, in one or more related transactions
consummates a stock or share purchase agreement or other business combination (including, without limitation, a reorganization,
recapitalization, spin-off or scheme of arrangement) with another Person or group of Persons whereby such other Person or group
acquires more than 50% of the outstanding shares of Common Stock (not including any shares of Common Stock held by the other Person
or other Persons making or party to, or associated or affiliated with the other Persons making or party to, such stock or share
purchase agreement or other business combination) (each a “Fundamental Transaction”), then, upon any subsequent
exercise of this Warrant, the Holder shall have the right to receive, for each Warrant Share that would have been issuable upon
such exercise immediately prior to the occurrence of such Fundamental Transaction, at the option of the Holder (without regard
to any limitation in Section 2(e) on the exercise of this Warrant), consideration (the “Alternate Consideration”)
receivable as a result of such Fundamental Transaction by a holder of the number of shares of Common Stock for which this Warrant
is exercisable immediately prior to such Fundamental Transaction (without regard to any limitation in Section 2(e) on the exercise
of this Warrant). For purposes of any such exercise, the determination of the Exercise Price shall be appropriately adjusted to
apply to such Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one share of Common
Stock in such Fundamental Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration in
a reasonable manner reflecting the relative value of any different components of the Alternate Consideration. If holders of Common
Stock are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder
shall be given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant following such Fundamental
Transaction.


 


(d) Other Events. If
any event occurs of the type contemplated by the provisions of this Section 3, but not expressly provided for by such provisions
(including, without limitation, the granting of stock appreciation rights, phantom stock rights or other rights with equity features),
then the Company’s board of directors will make an appropriate adjustment in the Exercise Price and the number of Warrant
Shares so as to protect the rights of the Holder.


 


(e) Certificate of Adjustment.
Whenever the Exercise Price or number of Warrant Shares is adjusted as herein provided, the Company shall promptly deliver to the
Holder a certificate of the Company’s chief financial officer or other authorized officer setting forth the Exercise Price
and number of Warrant Shares following such adjustment and setting forth a brief statement of the facts resulting in such adjustment.


 






    -4-


     


    

 


(f) Notice to Allow Exercise
by Holder. If (i) the Company shall declare a dividend on the Common Stock, (ii) the Company shall declare a special nonrecurring
cash dividend on or a redemption of the Common Stock, (iii) the Company shall authorize the granting to all holders of the Common
Stock rights or warrants to subscribe for or purchase any Common Stock of any class or of any rights, (iv) the approval of any
stockholders of the Company shall be required in connection with any reclassification of the Common Stock, any consolidation or
merger to which the Company is a party, any sale or transfer of all or substantially all of the assets of the Company, or any compulsory
share exchange whereby the Common Stock are converted into other securities, cash or property, or (v) the Company shall authorize
the voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, then, in each case, the Company
shall cause to be mailed to the Holder at its last address as it shall appear upon the Warrant Register of the Company, at least
ten (10) calendar days prior to the applicable record or effective date hereinafter specified, a notice stating (x) the date on
which a record is to be taken for the purpose of such dividend, redemption, rights or warrants, or if a record is not to be taken,
the date as of which the holders of the Common Stock of record to be entitled to such dividend, redemption, rights or warrants
are to be determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer or Common Stock exchange
is expected to become effective or close, and the date as of which it is expected that holders of the Common Stock of record shall
be entitled to exchange their Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation,
merger, sale, transfer or Common Stock exchange; provided that the failure to mail such notice or any defect therein or in the
mailing thereof shall not affect the validity of the corporate action required to be specified in such notice. To the extent that
any notice provided hereunder constitutes, or contains, material, non-public information regarding the Company or any of the Subsidiaries,
the Company shall simultaneously publicly disclose such notice.


 


(g) Calculations. All
calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share of Common Stock, as the case
may be. For purposes of this Section 3, the number of shares of Common Stock deemed to be issued and outstanding as of a given
date shall be the sum of the number of shares of Common Stock issued and outstanding.


 


(h) Voluntary Adjustment
by Company. The Company may at any time during the term of this Warrant reduce the then current Exercise Price to any amount
and for any period of time deemed appropriate by the board of directors of the Company.”


 


Section 3. Representations and
Warranties of the Company. The Company hereby makes the representations and warranties set forth below to the Holder that:


 


		(a)	the Company has all requisite power and authority to execute and deliver this Amendment and to
perform its obligations hereunder. The execution and delivery by the Company of this Amendment have been duly authorized by all
necessary action on the part of the Company, and no other authorization or consent of the Company, its board of directors, its
stockholders or any other Person under applicable law, the Company’s organizational documents, the Purchase Agreement, the
Original Warrant or any other contracts to which the Company is a party to. This Amendment has been duly executed by the Company
and, when delivered in accordance with the terms hereof will constitute the valid and binding obligation of the Company enforceable
against the Company in accordance with its terms except (i) as limited by general equitable principles and applicable bankruptcy,
insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights generally,
(ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies and
(iii) insofar as indemnification and contribution provisions may be limited by applicable law;



 






    -5-


     


    

 


		(b)	the Company is a duly organized and validly existing corporation in good standing under the laws
of the State of Delaware; and



 


		(c)	the execution, delivery and performance of this Amendment by the Company and the consummation by
the Company of the transactions contemplated hereby do not and will not: (i) conflict with or violate any provision of the Company’s
certificate of incorporation, bylaws or other organizational or charter documents, or (ii) conflict with, or constitute a default
(or an event that with notice or lapse of time or both would become a default) under, result in the creation of any lien upon any
of the properties or assets of the Company, or give to others any rights of termination, amendment, acceleration or cancellation
(with or without notice, lapse of time or both) of, any material agreement, credit facility, debt or other material instrument
(evidencing Company debt or otherwise) or other material understanding to which the Company is a party or by which any property
or asset of the Company is bound or affected, or (iii) conflict with or result in a violation of any law, rule, regulation, order,
judgment, injunction, decree or other restriction of any court or governmental authority to which the Company is subject (including
federal and state securities laws and regulations), or by which any property or asset of the Company is bound or affected.



 


Section 4. Representations
and Warranties of the Holder. The Holder hereby makes the representations and warranties set forth below to the Company
that:


 


		(a)	The Holder represents and warrants that (i) the execution and delivery of this Amendment by it
and the consummation by it of the transactions contemplated hereby have been duly authorized by all necessary action on its behalf
and (ii) this Amendment has been duly executed and delivered by the Holder and constitutes the valid and binding obligation of
the Holder, enforceable against it in accordance with its terms; and



 


		(b)	The Holder represents and warrants that the execution, delivery and performance of this Amendment
by the Holder and the consummation by the Holder of the transactions contemplated hereby do not and will not: (i) conflict with
or violate any provision of the Holder’s organizational or charter documents, or (ii) conflict with or result in a violation
of any agreement, law, rule, regulation, order, judgment, injunction, decree or other restriction of any court or governmental
authority which would interfere with the ability of the Holder to perform its obligations under this Amendment.



 


Section 5. Ratifications;
Inconsistent Provisions. Except as otherwise expressly provided herein, the Original Warrant, is, and shall continue to
be, in full force and effect and is hereby ratified and confirmed in all respects, except that on and after the Effective
Date, all references in the Original Warrant to “this Warrant”, “hereto”, “hereof”,
 “hereunder” or words of like import referring to the Original Warrant shall mean the Original Warrant as amended
by this Amendment. Notwithstanding the foregoing to the contrary, to the extent that there is any inconsistency between the
provisions of the Original Warrant and this Amendment, the provisions of this Amendment shall control and be binding.


 


Section 6. Counterparts.
This Amendment may be executed in any number of counterparts, all of which will constitute one and the same instruments and
shall become effective when one or more counterparts have been signed by each of the parties and delivered to the other
party. Facsimile or other electronic transmission of any signed original document shall be deemed the same as delivery of an
original.


 


Section 7. Replacement
Warrant. The Holder may, at its sole discretion, elect to request that the Company exchange this Amendment and the
Original Warrant for a new warrant (the “New Warrant”) that incorporates these amendments mutatis
mutandis.


 


[The Remainder of this Page is Blank]


 






    -6-


     


    

 


IN WITNESS WHEREOF,
the Company has caused this Amendment to be executed as of the date first written above by its respective officers thereunto duly
authorized.


 


	 	SUMMIT WIRELESS TECHNOLOGIES, INC.
	 	 
	 	By:  	                        
	 	Name: Brett Moyer
	 	Title: President and CEO







 


[Signature
Page to Amendment No. 1 to Series F Warrant]


 






    


     


    

 


	Acknowledged and Accepted as of the date first written above:	 
	 	 
	[              ]	 
	Name of Holder	 
	 	 
	By:  	                   	 
	Name:	 
	Title:	 




 


[Signature Page to Amendment No. 1 to Series F Warrant]