Exhibit 10.2


 


DATED: November [●], 2021


  


Guaraci Investments Ltd.


 


Bruno Guiçardi


 


[Ferreira Guiçardi Family Trust]


 


ENIAC Capital Group Ltd.


 


AI Calypso Brown LLC


 


AI Iapetus Grey LLC


 


AI Titan Black LLC


 


CI&T Inc


 


 


 REGISTRATION RIGHTS AGREEMENT


 








 






    


     


    




 


TABLE OF CONTENTS


 


Page


 





	Article 1 DEFINITIONS	1
	 	 
	Section 1.01.	Defined Terms	1
	Section 1.02.	General Interpretive Principles	4
	 	 	 
	Article 2 REGISTRATION RIGHTS	5
	 	 
	Section 2.01.	Registration	5
	Section 2.02.	Piggyback Registrations	9
	Section 2.03.	Selection of Underwriter(s)	10
	Section 2.04.	Registration Procedures	10
	Section 2.05.	Holdback Agreements	15
	Section 2.06.	Underwriting Agreement in Underwritten Offerings	15
	Section 2.07.	Registration Expenses Paid By Company	15
	Section 2.08.	Indemnification	16
	Section 2.09.	Reporting Requirements; Rule 144	18
	Section 2.10.	Limitations on Subsequent Registration Rights	18
	 	 	 
	Article 3 MISCELLANEOUS	19
	 	 
	Section 3.01.	Term	19
	Section 3.02.	Notices	19
	Section 3.03.	Successors, Assigns and Transferees	20
	Section 3.04.	GOVERNING LAW; NO JURY TRIAL	21
	Section 3.05.	Specific Performance	21
	Section 3.06.	Headings	21
	Section 3.07.	Severability	22
	Section 3.08.	Amendment; Waiver	22
	Section 3.09.	Further Assurances	22
	Section 3.10.	Counterparts	22



 






    


     


    










 


REGISTRATION RIGHTS AGREEMENT


 


This REGISTRATION RIGHTS AGREEMENT, dated as of
November [●], 2021 (this “Agreement”), is by and among CI&T Inc, a Cayman Islands exempted company
with limited liability duly registered with the Cayman Islands Registrar of Companies, whose registered office is at the offices of Maples
Corporate Services Limited, PO Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands (the “Company”), and
Guaraci Investments Ltd. (“Guaraci Investments”), [the Ferreira Guiçardi Family Trust], Bruno Guiçardi
[(together with the the Ferreira Guiçardi Family Trust, “Bruno Guiçardi”)], ENIAC Capital Group Ltd.
(“ENIAC Capital”), AI Calypso Brown LLC (“AI Calypso”), AI Iapetus Grey LLC (“AI Iapetus”),
AI Titan Black LLC (“AI Titan Black” and together with AI Calypso, AI Iapetus, Guaraci Investments, Bruno Guiçardi
and ENIAC Capital, the “Pre-IPO Shareholders”).


 


W I T N E S S E T H:


 


WHEREAS, the Company is currently contemplating
an underwritten initial public offering (“IPO”) of its Class A Shares (as defined below); and


 


WHEREAS, the Company desires to grant registration
rights to the Pre-IPO Shareholders on the terms and conditions set out in this Agreement;


 


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


 


Article 1

DEFINITIONS


 


Section 1.01.     Defined
Terms. As used in this Agreement, the following terms shall have the following meanings:


 


“Action” means any demand,
action, suit, countersuit, arbitration, inquiry, proceeding or investigation by or before any Governmental Authority or any federal,
state, local, foreign or international arbitration or mediation tribunal.


 


“Affiliate” has the meaning
provided in the Company’s Articles of Association.


 


“Agreement” has the meaning
set forth in the preamble to this Agreement.


 


“Articles of Association” means
the amended and restated memorandum and articles of association of the Company adopted by special resolution of the Company dated [●],
2021 as it may be amended from time to time;


 


“Business Day” means any day
(other than a Saturday or Sunday) on which banks are open for general business in New York and São Paulo.


 


“Class A Shares” means
the Class A common shares of the Company having the rights set out in the Articles of Association.


 






    


     


    

 


“Class B Shares” means
the Class B common shares of the Company having the rights set out in the Articles of Association.


  


“Company
Notice” has the meaning set forth in ‎Section 2.01(a).


 


“Company
Takedown Notice” has the meaning set forth in ‎Section 2.01(f).


 


“Demand
Registration” has the meaning set forth in ‎Section 2.01(a).


 


“Equity Securities” means Class A
Shares, Class B Shares and any securities convertible into or exchangeable or exercisable for Shares and preferred shares of the
Company, as adjusted by any capital increase, share split, share dividend, combination, subdivision, recapitalization or the like.


 


“Eligible
Holders” has the meaning set forth in ‎Section 2.01(a).


 


“Exchange Act” means the Securities
Exchange Act of 1934, as amended.


 


“FINRA” means the Financial
Industry Regulatory Authority.


 


“Governmental Authority” means
any nation or government, any state, province or other political subdivision thereof, any entity exercising executive, legislative, judicial,
regulatory or administration functions of or pertaining to government, or any government authority, agency, department, board, tribunal,
commission or instrumentality of any government, or any municipality or other political subdivision thereof, and any court, tribunal
or arbitrator(s) of competent jurisdiction, and any governmental or other agency or authority.


 


“Holder”
shall mean the Pre-IPO Shareholders and any of their Permitted Transferees, jointly considered, so long as such Person holds any Registrable
Securities or Class B Shares convertible into Registrable Securities, and any Person owning Registrable Securities or Class B
Common Shares convertible into Registrable Securities who is a permitted transferee of rights under ‎Section 3.03.


 


“Initiating
Holder” has the meaning set forth in ‎Section 2.01(a).


 


“IPO” has the meaning set forth
in the recitals to this Agreement.


 


“Loss”
or “Losses” has the meaning set forth in ‎Section 2.08(a).


 


“Permitted Transferee” shall
mean (i) any Affiliate of any Pre-IPO Shareholder, (ii) any investment fund or other entity controlled or managed by such Pre-IPO
Shareholder or (iii) any limited partner, members, stockholder or other equity holder of a Pre-IPO Shareholder who receives Registrable
Securities in a pro rata distribution by such Pre-IPO Shareholder.


 


“Person” means individual,
corporation, general or limited partnership, limited liability company, joint stock company, joint venture, estate, trust, association,
organization or any other entity or any Governmental Authority.


 






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“Piggyback
Registration” has the meaning set forth in ‎Section 2.02(a).





 


“Pre-IPO Shareholders” has
the meaning set forth in the preamble to this Agreement and shall include their successors, by merger, acquisition, reorganization or
otherwise.


 


“Prospectus” means the prospectus
included in any Registration Statement, all amendments and supplements to such prospectus, including pre- and post-effective amendments
to such Registration Statement, and all other material incorporated by reference in such prospectus.


 


“Registrable Securities” means
any (i) Shares held by any Holder, (ii) any Shares issuable upon the conversion, exchange or exercise of Equity Securities
held by any Holder, (iii) any Shares issued as (or issuable upon the conversion or exercise of any warrant, right or other security
that is issued as) a dividend or other distribution with respect to, or in exchange for, or in replacement of, the Shares referenced
in (i) or (ii) above; provided that any such Shares shall cease to be Registrable Securities if (i) they have been
registered and sold pursuant to an effective Registration Statement, (ii) they have been transferred by a Holder in a transaction
in which the Holder’s rights under this Agreement are not, or cannot be, assigned, (iii) they may be sold pursuant to Rule 144
under the Securities Act without limitation thereunder on volume or manner of sale and the Holder of such securities does not then beneficially
own more than 3% (three per cent) of outstanding common shares of the Company, or (iv) they have ceased to be outstanding.


 


“Registration” means a registration
with the SEC of the offer and sale to the public of Class A Shares under a Registration Statement. The terms “Register,”
 “Registered” and “Registering” shall have a correlative meaning.


 


“Registration Expenses” shall
mean all expenses incident to the Company’s performance of or compliance with this Agreement, including all (i) registration,
qualification and filing fees; (ii) expenses incurred in connection with the preparation, printing and filing under the Securities
Act of the Registration Statement, any Prospectus and any issuer free writing prospectus and the distribution thereof; (iii) the
fees and expenses of the Company’s counsel and independent accountants; (iv) the fees and expenses incurred in connection
with the registration or qualification and determination of eligibility for investment of the Shares under the state or foreign securities
or blue sky laws and the preparation, printing and distribution of a blue sky or legal investment memorandum (including the related fees
and expenses of counsel); (v) the costs and charges of any transfer agent and any registrar; (vi) all expenses and application
fees incurred in connection with any filing with, and clearance of an offering by, FINRA; (vii) expenses incurred in connection
with any “road show” presentation to potential investors; (viii) printing expenses, messenger, telephone and delivery
expenses; (ix) internal expenses of the Company (including all salaries and expenses of employees of the Company performing legal
or accounting duties); and (x) fees and expenses of listing any Registrable Securities on any securities exchange on which Class A
Shares are then listed; but excluding any Selling Expenses.


 


“Registration
Period” has the meaning set forth in ‎Section 2.01(c).


 






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“Registration Rights” shall
mean the rights of the Holders to cause the Company to Register Registrable Securities pursuant to this Agreement.


 


“Registration Statement” means
any registration statement of the Company that covers Registrable Securities pursuant to the provisions of this Agreement filed with,
or to be filed with, the SEC under the rules and regulations promulgated under the Securities Act, including the related Prospectus,
amendments and supplements to such registration statement, including pre- and post-effective amendments, and all exhibits and all material
incorporated by reference in such registration statement.


 


“Rule 144” means Rule 144
(or any successor provisions) under the Securities Act.


 


“SEC” means the U.S. Securities
and Exchange Commission.


 


“Securities Act” means the
U.S. Securities Act of 1933, as amended.


 


“Selling Expenses” means all
underwriting discounts, selling commissions and transfer taxes applicable to the sale of Registrable Securities hereunder.


 


“Shares”
means all Class A Shares that are beneficially owned by the Pre-IPO Shareholders, any of their Permitted Transferees or any permitted
transferee of rights under ‎Section 3.03
from time to time, whether or not held immediately following the IPO.


 


“Shelf Registration” means
a Registration Statement of the Company for an offering to be made on a delayed or continuous basis of Class A Shares pursuant to
Rule 415 under the Securities Act (or similar provisions then in effect).


 


“Subsidiary” means, when used
with respect to any Person, (a) a corporation in which such Person or one or more Subsidiaries of such Person, directly or indirectly,
owns capital stock having a majority of the total voting power in the election of directors of all outstanding shares of all classes
and series of capital stock of such corporation entitled generally to vote in such election; and (b) any other Person (other than
a corporation) in which such Person or one or more Subsidiaries of such Person, directly or indirectly, has (i) a majority ownership
interest or (ii) the power to elect or direct the election of a majority of the members of the governing body of such first-named
Person.


 


“Takedown
Notice” has the meaning set forth in ‎Section 2.01(f).


 


“Underwritten Offering” means
a Registration in which securities of the Company are sold to an underwriter or underwriters on a firm commitment basis for reoffering
to the public.


 


Section 1.02.     General
Interpretive Principles. Whenever used in this Agreement, except as otherwise expressly provided or unless the context otherwise
requires, any noun or pronoun shall be deemed to include the plural as well as the singular and to cover all genders. Whenever the words
 “include,” “includes” or “including” are used in this Agreement, they shall
be deemed to be followed by the words “without limitation.” Unless otherwise specified, the terms “hereof,”
 “herein,” “hereunder” and similar terms refer to this Agreement as a whole (including the exhibits
hereto), and references herein to Articles and Sections refer to Articles and Sections of this Agreement. Except as otherwise indicated,
all periods of time referred to herein shall include all Saturdays, Sundays and holidays; provided, however, that if the
date to perform the act or give any notice with respect to this Agreement shall fall on a day other than a Business Day, such act or
notice may be performed or given timely if performed or given on the next succeeding Business Day. References to a Person are also to
its permitted successors and assigns. The parties have participated jointly in the negotiation and drafting of this Agreement and, in
the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as jointly drafted by the parties,
and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision of this
Agreement.


 






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Article 2

REGISTRATION RIGHTS


 


Section 2.01.     Registration.


 


(a)            Request.
The Pre-IPO Shareholders shall each have the right to request that the Company file a Registration Statement with the SEC on the appropriate
registration form for all or part of the Registrable Securities held (and for avoidance of doubt, that would be held upon conversion
of Class B Shares into Registrable Securities) by such Holder once such Holder is no longer subject to the lock-up applicable to
it entered into in connection with the IPO (which may be due to the expiration or waiver of such lock-up with respect to such Registrable
Securities) by delivering a written request to the Company specifying the kind and number of shares of Registrable Securities such Holder
wishes to Register and the intended method of distribution thereof (a “Demand Registration” and the Holder submitting
such Demand Registration, the “Initiating Holder”). The Company shall (i) within 5 Business Days of the receipt
of such request, give written notice of such Demand Registration (the “Company Notice”) to all Holders other than
the relevant Initiating Holder (the “Eligible Holders”), (ii) use its reasonable best efforts to file a Registration
Statement in respect of such Demand Registration within 45 days of receipt of the request, and (iii) use its reasonable best efforts
to cause such Registration Statement to become effective as soon as reasonably practicable thereafter. The Company shall include in such
Registration all Registrable Securities that the Eligible Holders request to be included within the 10 Business Days following their
receipt of the Company Notice. For the avoidance of doubt, the Initiating Holder may deliver a request for a Demand Registration and
the Company shall deliver the Company Notice prior to the expiration of any lock-up period applicable to the Initiating Holder, so long
as the Registration Statement is not filed until after the expiration of such lock-up period.


 


(b)            Limitations
of Demand Registrations. There shall be no limitation on the number of Demand Registrations pursuant to ‎Section 2.01(a);
provided, however, that the Pre-IPO Shareholders jointly considered shall not require the Company to effect more than three
Demand Registrations in a 12-month period. In the event that any Person shall have received rights to Demand Registrations pursuant to
‎Section 3.03, and such Person shall have made a Demand Registration request, such request
shall be treated as having been made by the Holder who transferred such rights to such Person. The Registrable Securities requested to
be Registered pursuant to ‎Section 2.01(a) (including, for the avoidance of doubt,
the Registrable Securities of Eligible Holders requested to be registered) must represent (i) an aggregate offering price of Registrable
Securities that is reasonably expected to equal at least US$25,000,000 or (ii) all of the remaining Registrable Securities owned
by the Initiating Holder and its Affiliates or that would be owned upon conversion of all of the Class B Shares held by the Initiating
Holder and its Affiliates into Class A Shares.


 






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(c)            Effective
Registration. The Company shall be deemed to have effected a Registration for purposes of ‎Section 2.01(a) if
the Registration Statement is declared effective by the SEC or becomes effective upon filing with the SEC, and remains effective until
the earlier of (i) the date when all Registrable Securities thereunder have been sold and (ii) 180 days from the effective
date of the Registration Statement (the “Registration Period”). No Registration shall be deemed to have been effective
if (i) the conditions to closing specified in the underwriting agreement, if any, entered into in connection with such Registration
are not satisfied by reason of the Company or (ii) the number of Registrable Securities included in any such Registration Statement
is reduced in accordance with ‎Section 2.01(e) such that less than 25% of the aggregate
number of Registrable Securities requested to be Registered pursuant to ‎Section 2.01(a) are
included. If, during the Registration Period, such Registration is interfered with by any stop order, injunction or other order or requirement
of the SEC or other Governmental Authority, the Registration Period shall be extended on a day-for-day basis for any period the Holder
is unable to complete an offering as a result of such stop order, injunction or other order or requirement of the SEC or other Governmental
Authority.


 


(d)            Underwritten
Offering. If the Initiating Holder so indicates at the time of its request pursuant to ‎Section 2.01(a),
such offering of Registrable Securities shall be in the form of an Underwritten Offering and the Company shall include such information
in the Company Notice. In the event that the Initiating Holder intends to distribute the Registrable Securities by means of an Underwritten
Offering, no Holder may include Registrable Securities in such Registration unless such Holder, subject to the limitations set forth
in ‎Section 2.06, (i) agrees to sell its Registrable Securities on the basis provided
in the applicable underwriting arrangements; (ii) completes and executes all questionnaires, powers of attorney, indemnities, underwriting
agreements and other documents reasonably required under the terms of such underwriting arrangements and (iii) cooperates with the
Company’s reasonable requests in connection with such Registration (it being understood that the Company’s failure to perform
its obligations hereunder, which failure is caused by such Holder’s failure to cooperate, will not constitute a breach by the Company
of this Agreement).


 


(e)            Priority
of Securities in an Underwritten Offering. If the Company, after consultation with the managing underwriter or underwriters of a
proposed Underwritten Offering, including an Underwritten Offering from a Shelf Registration, pursuant to this ‎Section 2.01,
determines in its sole reasonable discretion that the number of securities requested to be included in such Underwritten Offering exceeds
the number that can be sold in such Underwritten Offering without being likely to have a significant adverse effect on the price, timing
or distribution of the securities offered or the market for the securities offered, then the number of securities to be included in such
Underwritten Offering shall be reduced in the following order of priority: first, there shall be excluded from the Underwritten
Offering any securities to be sold for the account of any selling securityholder (if there is any) other than the Initiating Holder and
the Eligible Holders; second, there shall be excluded from the Underwritten Offering any securities to be sold for the account
of the Company; and finally, there shall be excluded from the Underwritten Offering any securities to be sold for the account
of Holders (including the Initiating Holders and the Eligible Holders) and their Affiliates that have been requested to be included therein,
pro rata based on the number of Registrable Securities and Class B Common Shares convertible into Registrable Securities
owned by each such Holder, in each case to the extent necessary to reduce the total number of securities to be included in such offering
to the number recommended by the managing underwriter or underwriters.


 






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(f)            Shelf
Registration. At any time after the date hereof when the Company is eligible to Register the applicable Registrable Securities on
Form F-3 (or a successor form) and an Initiating Holder is entitled to request Demand Registrations, such Initiating Holder may
request the Company to effect a Demand Registration as a Shelf Registration. For the avoidance of doubt, the requirement that (i) the
Company deliver a Company Notice in connection with a Demand Registration and (ii) the right of Eligible Holders to request that
their Registrable Securities be included in a Registration Statement filed in connection with a Demand Registration, each as set forth
in ‎Section 2.01(a), shall apply to a Demand Registration that is effected as Shelf Registration.
There shall be no limitations on the number of Underwritten Offerings pursuant to a Shelf Registration; provided, however,
that the Pre-IPO Shareholders jointly considered may not require the Company to effect more than three Underwritten Offerings collectively
in a 12-month period. If any Initiating Holder holds Registrable Securities included on a Shelf Registration, or Class B Shares
convertible into Registrable Securities included on a Shelf Registration, it shall have the right to request that the Company cooperate
in a shelf takedown at any time, including an Underwritten Offering, by delivering a written request thereof to the Company specifying
the kind and number of shares of Registrable Securities such Initiating Holder wishes to include in the shelf takedown (“Takedown
Notice”). The Company shall (i) within five days of the receipt of a Takedown Notice, give written notice of such Takedown
Notice to all Holders of Registrable Securities or Class B Shares convertible into Registrable Securities included on such Shelf
Registration (the “Company Takedown Notice”), and (ii) shall take all actions reasonably requested by the Initiating
Holder who submitted the Takedown Notice, including the filing of a Prospectus supplement and the other actions described in ‎Section 2.04,
in accordance with the intended method of distribution set forth in the Takedown Notice as expeditiously as practicable. If the takedown
is an Underwritten Offering, the Company shall include in such Underwritten Offering all Registrable Securities that the Holders of Registrable
Securities (or Class B Shares convertible into Registrable Securities) included in the Registration Statement for such Shelf Registration,
request be included within the five Business Days following such Holders’ receipt of the Company Takedown Notice. If the takedown
is an Underwritten Offering, the Registrable Securities requested to be included in a shelf takedown must represent (i) an aggregate
offering price of Registrable Securities that is reasonably expected to equal at least US$25,000,000 or (ii) all of the remaining
Registrable Securities owned by the requesting Initiating Holder and its Affiliates or that would be owned upon conversion of all of
the Class B Shares held by the requesting Initiating Holder and its Affiliates into Class A Shares.


 


(g)            SEC
Form. Except as set forth in the next sentence, the Company shall use its reasonable best efforts to cause Demand Registrations to
be Registered on Form F-3 (or any successor form), and if the Company is not then eligible under the Securities Act to use Form F-3,
Demand Registrations shall be Registered on Form F-1 (or any successor form). The Company shall use its reasonable best efforts
to become eligible to use Form F-3 and, after becoming eligible to use Form F-3, shall use its reasonable best efforts to remain
so eligible. All Demand Registrations shall comply with applicable requirements of the Securities Act and, together with each Prospectus
included, filed or otherwise furnished by the Company in connection therewith, shall not contain any untrue statement of material fact
or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading.


 






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(h)            Postponement.
Upon notice to, in the case of a Demand Registration, the Initiating Holder for such Demand Registration and any other Eligible Holders
or, in the case of a shelf takedown, the Initiating Holder or Holders requesting such shelf takedown and any other Holders to which a
Company Takedown Notice has been delivered with respect to such shelf takedown, the Company may postpone effecting a Registration or
shelf takedown, as applicable, pursuant to this ‎Section 2.01 on two occasions during any
period of six consecutive months for a reasonable time specified in the notice but not exceeding an aggregate of 120 days (which period
may not be extended or renewed), if (i) the Company reasonably believes that effecting the Registration or shelf takedown, as applicable,
would materially and adversely affect a proposal or plan by the Company to engage in (directly or indirectly through any of its Subsidiaries):
(x) a material acquisition or divestiture of assets; (y) a merger, consolidation, tender offer, reorganization, primary offering
of the Company’s securities or similar material transaction; or (z) a material financing or any other material business transaction
with a third party or (ii) the Company is in possession of material non-public information the disclosure of which during the period
specified in such notice the Company reasonably believes would not be in the best interests of the Company.


 


(i)            Right
to Withdraw. Unless otherwise agreed, each Holder shall have the right to withdraw such Holder’s request for inclusion of its
Registrable Securities in any Underwritten Offering pursuant to this ‎Section 2.01 at any
time prior to the execution of an underwriting agreement with respect thereto by giving written notice to the Company of such Holder’s
request to withdrawn and, subject to the preceding clause, each Holder shall be permitted to withdraw all or part of such Holder’s
Registrable Securities from a Demand Registration at any time prior to the effective date thereof.


 






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Section 2.02.     Piggyback
Registrations.


 


(a)            Participation.
If the Company proposes to file a Registration Statement under the Securities Act with respect to any offering of Class A Shares
for its own account and/or for the account of any other Persons (other than a Registration (i) under ‎Section 2.01
hereof, (ii) pursuant to a Registration Statement on Form S-8 (or other registration solely relating to an offering or sale
to employees or directors of the Company pursuant to any employee stock plan or other employee benefit arrangement) or Form F-4
or similar form that relates to a transaction subject to Rule 145 under the Securities Act, (iii) in connection with any dividend
reinvestment or similar plan or (iv) for the sole purpose of offering securities to another entity or its security holders in connection
with the acquisition of assets or securities of such entity or any similar transaction), then, as soon as practicable (but in no event
less than five days prior to the proposed date of filing such Registration Statement), the Company shall give written notice of such
proposed filing to each Holder, and such notice shall offer such Holders the opportunity to Register under such Registration Statement
such number of Registrable Securities (or Class B Shares convertible into Registrable Securities) as each such Holder may request
in writing (a “Piggyback Registration”). Subject to ‎Section 2.02(a) and
‎Section 2.02(c), the Company shall include in such Registration Statement all such Registrable
Securities that are requested to be included therein within seven Business Days after the receipt of any such notice; provided,
however, that if, at any time after giving written notice of its intention to Register any securities pursuant to this ‎Section 2.02(a) and
prior to the effective date of the Registration Statement filed in connection with such Registration, the Company shall determine for
any reason not to Register or to delay Registration of such securities, the Company may, at its election, give written notice of such
determination to each such Holder and, thereupon, (i) in the case of a determination not to Register, shall be relieved of its obligation
to Register any Registrable Securities in connection with such Registration and shall have no liability to any Holder in connection with
such termination, and (ii) in the case of a determination to delay Registration, shall be permitted to delay Registering any Registrable
Securities for the same period as the delay in Registering such other Class A Shares, in each case without prejudice, however, to
the rights of any Holder to request that such Registration be effected as a Demand Registration under ‎Section 2.01.
For the avoidance of doubt, no Registration effected under this ‎Section 2.02 shall relieve
the Company of its obligation to effect any Demand Registration under ‎Section 2.01. If
the offering pursuant to a Registration Statement pursuant to this ‎Section 2.02 is to
be an Underwritten Offering, then each Holder making a request for a Piggyback Registration pursuant to this ‎Section 2.02(a) shall,
and the Company shall use reasonable best efforts to coordinate arrangements with the underwriters so that each such Holder may, participate
in such Underwritten Offering. If the offering pursuant to such Registration Statement is to be on any other basis, then each Holder
making a request for a Piggyback Registration pursuant to this ‎Section 2.02(a) shall,
and the Company shall use reasonable best efforts to coordinate arrangements so that each such Holder may, participate in such offering
on such basis. If the Company files a Shelf Registration for its own account and/or for the account of any other Persons, the Company
agrees that it shall use its reasonable best efforts to include in such Registration Statement such disclosures as may be required by
Rule 430B under the Securities Act in order to ensure that the Holders may be added to such Shelf Registration at a later time through
the filing of a Prospectus supplement rather than a post-effective amendment.





 


(b)            Right
to Withdraw . Unless otherwise agreed, each Holder shall have the right to withdraw such Holder’s request for inclusion of
its Registrable Securities in any Underwritten Offering pursuant to this ‎Section 2.02
at any time prior to the execution of an underwriting agreement with respect thereto by giving written notice to the Company of such
Holder’s request to withdraw and, subject to the preceding clause, each Holder shall be permitted to withdraw all or part of such
Holder’s Registrable Securities from a Piggyback Registration at any time prior to the effective date thereof.


 


(c)            Priority
of Piggyback Registration. If the managing underwriter or underwriters of any proposed Underwritten Offering of a class of Registrable
Securities included in a Piggyback Registration informs the Company and the Holders in writing that, in its or their reasonable opinion,
the number of securities of such class which such Holder and any other Persons intend to include in such Underwritten Offering exceeds
the number which can be sold in such Underwritten Offering without being likely to have a significant adverse effect on the price, timing
or distribution of the securities offered or the market for the securities offered, then the securities to be included in such Underwritten
Offering shall be reduced in the following order of priority: first, there shall be excluded from the Underwritten Offering any
securities to be sold for the account of any selling securityholder other than the Holders (if there is any); and second, there shall
be excluded from the Underwritten Offering any securities to be sold for the account of Holders and their Affiliates that have been requested
to be included therein, pro rata based on the number of Registrable Securities and Class B Shares convertible into Registrable
Securities owned by each such Holder, in each case to the extent necessary to reduce the total number of securities to be included in
such offering to the number recommended by the managing underwriter or underwriters.


 






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Section 2.03.     Selection
of Underwriter(s). In any Underwritten Offering pursuant to ‎Section 2.01, the Initiating
Holders shall select the underwriter(s), with the consent of the Company, which consent shall not be unreasonably withheld, conditioned
or delayed.


 


Section 2.04.     Registration
Procedures.


 


(a)            In
connection with the Registration and/or sale of Registrable Securities pursuant to this Agreement, through an Underwritten Offering or
otherwise, the Company shall use reasonable best efforts to effect or cause the Registration and the sale of such Registrable Securities
in accordance with the intended methods of disposition thereof and:


 


(i)            prepare
and file the required Registration Statement, including all exhibits and financial statements required under the Securities Act to be
filed therewith, and before filing with the SEC a Registration Statement or Prospectus, or any amendments or supplements thereto, (A) furnish
to the underwriters, if any, and to the Holders participating in such Registration, copies of all documents prepared to be filed, which
documents will be subject to the review of such underwriters and such participating Holders and their respective counsel, and (B) consider
in good faith any comments of the underwriters and Holders and their respective counsel on such documents;


 


(ii)            prepare
and file with the SEC such amendments and supplements to such Registration Statement and the Prospectus used in connection therewith
as may be necessary to keep such Registration Statement effective in accordance with the terms of this Agreement and to comply with the
provisions of the Securities Act with respect to the disposition of all of the Shares Registered thereon;


 


(iii)            in
the case of a Shelf Registration, prepare and file with the SEC such amendments and supplements to such Registration Statement and the
Prospectus used in connection therewith as may be necessary to keep such Registration Statement effective and to comply with the provisions
of the Securities Act with respect to the disposition of all Shares subject thereto for a period ending on the 3rd anniversary after
the effective date of such Registration Statement;


 


(iv)            notify
the participating Holders and the managing underwriter or underwriters, if any, and (if requested) confirm such advice in writing and
provide copies of the relevant documents, as soon as reasonably practicable after notice thereof is received by the Company (A) when
the applicable Registration Statement or any amendment thereto has been filed or becomes effective, or when the applicable Prospectus
or any amendment or supplement to such Prospectus has been filed, (B) of any written comments by the SEC or any request by the SEC
or any other Governmental Authority for amendments or supplements to such Registration Statement or such Prospectus or for additional
information, (C) of the issuance by the SEC of any stop order suspending the effectiveness of such Registration Statement or any
order preventing or suspending the use of any preliminary or final Prospectus or the initiation or threatening of any proceedings for
such purposes, (D) if, at any time, the representations and warranties of the Company in any applicable underwriting agreement cease
to be true and correct in all material respects, and (E) of the receipt by the Company of any notification with respect to the suspension
of the qualification of the Registrable Securities for offering or sale in any jurisdiction or the initiation or threatening of any proceeding
for such purpose;


 






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(v)            promptly
notify each selling Holder and the managing underwriter or underwriters, if any, when the Company becomes aware of the occurrence of
any event as a result of which the applicable Registration Statement or the Prospectus included in such Registration Statement (as then
in effect) contains any untrue statement of a material fact or omits to state a material fact necessary to make the statements therein
(in the case of such Prospectus and any preliminary Prospectus, in light of the circumstances under which they were made) not misleading
or, if for any other reason it shall be necessary during such time period to amend or supplement such Registration Statement or Prospectus
in order to comply with the Securities Act and, in either case as promptly as reasonably practicable thereafter, prepare and file with
the SEC, and furnish without charge to the selling Holder and the managing underwriter or underwriters, if any, an amendment or supplement
to such Registration Statement or Prospectus which will correct such statement or omission or effect such compliance;


 


(vi)           use
its reasonable best efforts to prevent or obtain the withdrawal of any stop order or other order suspending the use of any preliminary
or final Prospectus;


 


(vii)          promptly
incorporate in a Prospectus supplement or post-effective amendment such information as the managing underwriters, if any, and the Holders
may reasonably request to be included therein in order to permit the intended method of distribution of the Registrable Securities; and
make all required filings of such Prospectus supplement or post-effective amendment as soon as reasonably practicable after being notified
of the matters to be incorporated in such Prospectus supplement or post-effective amendment;


 


(viii)         furnish
to each selling Holder and each underwriter, if any, without charge, as many conformed copies as such Holder or underwriter may reasonably
request of the applicable Registration Statement and any amendment or post-effective amendment thereto, including financial statements
and schedules, all documents incorporated therein by reference and all exhibits (including those incorporated by reference);


 


(ix)           deliver
to each selling Holder and each underwriter, if any, without charge, as many copies of the applicable Prospectus (including each preliminary
Prospectus) and any amendment or supplement thereto as such Holder or underwriter may reasonably request (it being understood that the
Company consents to the use of such Prospectus or any amendment or supplement thereto by each selling Holder and the underwriters, if
any, in connection with the offering and sale of the Registrable Securities covered by such Prospectus or any amendment or supplement
thereto) and such other documents as such selling Holder or underwriter may reasonably request in order to facilitate the disposition
of the Registrable Securities by such Holder or underwriter;


 






    11


     


    




 


(x)            on
or prior to the date on which the applicable Registration Statement is declared effective or becomes effective, use its reasonable best
efforts to register or qualify, and cooperate with each selling Holder, the managing underwriter or underwriters, if any, and their respective
counsel, in connection with the registration or qualification of such Registrable Securities for offer and sale under the securities
or “blue sky” laws of each state and other jurisdiction of the United States as any selling Holder or managing underwriter
or underwriters, if any, or their respective counsel reasonably request in writing and do any and all other acts or things reasonably
necessary or advisable to keep such registration or qualification in effect for so long as such Registration Statement remains in effect
and so as to permit the continuance of sales and dealings in such jurisdictions of the United States for so long as may be necessary
to complete the distribution of the Registrable Securities covered by the Registration Statement; provided that the Company will
not be required to qualify generally to do business in any jurisdiction where it is not then so qualified or to take any action which
would subject it to taxation or general service of process in any such jurisdiction where it is not then so subject;


 


(xi)           in
connection with any sale of Registrable Securities that will result in such securities no longer being Registrable Securities, cooperate
with each selling Holder and the managing underwriter or underwriters, if any, to facilitate the timely preparation and delivery of certificates
representing Registrable Securities to be sold and not bearing any restrictive Securities Act legends; and to register such Registrable
Securities in such denominations and such names as such selling Holder or the underwriter(s), if any, may request at least two Business
Days prior to such sale of Registrable Securities; provided that the Company may satisfy its obligations hereunder without issuing
physical stock certificates through the use of The Depository Trust Company’s Direct Registration System;


 


(xii)          cooperate
and assist in any filings required to be made with the FINRA and each securities exchange, if any, on which any of the Company’s
securities are then listed or quoted and on each inter-dealer quotation system on which any of the Company’s securities are then
quoted, and in the performance of any due diligence investigation by any underwriter (including any “qualified independent underwriter”)
that is required to be retained in accordance with the rules and regulations of each such exchange, and use its reasonable best
efforts to cause the Registrable Securities covered by the applicable Registration Statement to be registered with or approved by such
other governmental agencies or authorities as may be necessary to enable the seller or sellers thereof or the underwriter or underwriters,
if any, to consummate the disposition of such Registrable Securities;


 






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(xiii)           not
later than the effective date of the applicable Registration Statement, provide a CUSIP number for all Registrable Securities and provide
the applicable transfer agent with printed certificates for the Registrable Securities which are in a form eligible for deposit with
The Depository Trust Company; provided that the Company may satisfy its obligations hereunder without issuing physical stock certificates
through the use of The Depository Trust Company’s Direct Registration System;





 


(xiv)           in
the case of an Underwritten Offering, obtain for delivery to and addressed to the selling Holders and the underwriter or underwriters,
an opinion from the Company’s outside counsel in customary form and content for the type of Underwritten Offering, dated the date
of the closing under the underwriting agreement;


 


(xv)            in
the case of an Underwritten Offering, obtain for delivery to and addressed to the underwriter or underwriters and, to the extent agreed
by the Company’s independent certified public accountants, each selling Holder, a comfort letter from the Company’s independent
certified public accountants (and the independent certified public accountants with respect to any acquired company financial statements)
in customary form and content for the type of Underwritten Offering, including with comfort letters customarily delivered in connection
with quarterly period financial statements if applicable, dated the date of execution of the underwriting agreement and brought down
to the closing under the underwriting agreement;


 


(xvi)           provide
and cause to be maintained a transfer agent and registrar for all Registrable Securities covered by the applicable Registration Statement
from and after a date not later than the effective date of such Registration Statement;


 


(xvii)          cause
all Registrable Securities covered by the applicable Registration Statement to be listed on each securities exchange on which any of
the Company’s Class A Shares are then listed or quoted and on each inter-dealer quotation system on which any of the Company’s
Class A Shares are then quoted, including the filing of any required supplemental listing application;


 


(xviii)         provide
(A) each Holder participating in the Registration, (B) the underwriters (which term, for purposes of this Agreement, shall
include a Person deemed to be an underwriter within the meaning of Section 2(11) of the Securities Act), if any, of the Registrable
Securities to be Registered, (C) the sale or placement agent therefor, if any, (D) counsel for such underwriters or agent,
and (E) any attorney, accountant or other agent or representative retained by such Holder or any such underwriter, as selected by
such Holder, the opportunity to participate in the preparation of such Registration Statement, each Prospectus included therein or filed
with the SEC, and each amendment or supplement thereto, and to require the insertion therein of material, furnished to the Company in
writing, which in the reasonable judgment of such Holder(s) and their counsel should be included; and for a reasonable period prior
to the filing of such Registration Statement, make available upon reasonable notice at reasonable times and for reasonable periods for
inspection by the parties referred to in (A) through (E) above, all pertinent financial and other records, pertinent corporate
documents and properties of the Company that are available to the Company, and cause the Company’s officers, employees and the
independent public accountants who have certified its financial statements to make themselves available at reasonable times and for reasonable
periods, to discuss the business of the Company and to supply all information available to the Company reasonably requested by any such
Person in connection with such Registration Statement as shall be necessary to enable them to exercise their due diligence responsibility,
subject to the foregoing, provided that any such Person gaining access to information or personnel pursuant to this ‎Section 2.04(a) (xviii) shall
agree to use reasonable efforts to protect the confidentiality of any information regarding the Company which the Company determines
in good faith to be confidential, and of which determination such Person is notified, unless (w) the release of such information
is required by law or regulation or is requested or required by deposition, interrogatory, requests for information or documents by a
governmental entity, subpoena or similar process, (x) such information is or becomes publicly known without a breach of this Agreement,
(y) such information is or becomes available to such Person on a non-confidential basis from a source other than the Company or
(z) such information is independently developed by such Person;


 






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(xix)           to
cause the executive officers of the Company to participate in the customary “road show” presentations that may be reasonably
requested by the managing underwriter or underwriters in any Underwritten Offering and otherwise to facilitate, cooperate with, and participate
in each proposed offering contemplated herein and customary selling efforts related thereto; and


 


(xx)            take
all other customary steps reasonably necessary to effect the Registration, offering and sale of the Registrable Securities.


 


(b)            As
a condition precedent to any Registration hereunder, the Company may require each Holder as to which any Registration is being effected
to furnish to the Company such information regarding the distribution of such securities and such other information relating to such
Holder, its ownership of Registrable Securities and other matters as the Company may from time to time reasonably request in writing.
Each such Holder agrees to furnish such information to the Company and to cooperate with the Company as reasonably necessary to enable
the Company to comply with the provisions of this Agreement.


 


(c)            Each
Holder agrees that, upon receipt of any written notice from the Company of the occurrence of any event of the kind described in ‎Section 2.04(a)(v),
such Holder will forthwith discontinue disposition of Registrable Securities pursuant to such Registration Statement until such Holder’s
receipt of the copies of the supplemented or amended Prospectus contemplated by ‎Section 2.04(a)(v),
or until such Holder is advised in writing by the Company that the use of the Prospectus may be resumed, and if so directed by the Company,
such Holder will deliver to the Company (at the Company’s expense) all copies, other than permanent file copies then in such Holder’s
possession, of the Prospectus covering such Registrable Securities current at the time of receipt of such notice. In the event the Company
shall give any such notice, the period during which the applicable Registration Statement for a Demand Registration is required to be
maintained effective shall be extended by the number of days during the period from and including the date of the giving of such notice
to and including the date when each seller of Registrable Securities covered by such Registration Statement either receives the copies
of the supplemented or amended Prospectus contemplated by ‎Section 2.04(a)(v) or is
advised in writing by the Company that the use of the Prospectus may be resumed.


 






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Section 2.05.     Holdback
Agreements. Each of the Company and the Holders agrees, upon notice from the managing underwriter or underwriters in connection with
any Registration for an Underwritten Offering of the Company’s securities (other than pursuant to a registration statement on Form F-4
or any similar or successor form or pursuant to a registration solely relating to an offering and sale to employees or directors of the
Company pursuant to any employee stock plan or other employee benefit plan arrangement), not to effect (other than pursuant to such Registration)
any public sale or distribution of Registrable Securities, including, but not limited to, any sale pursuant to Rule 144, or make
any short sale of, loan, grant any option for the purchase of, or otherwise dispose of, any Registrable Securities, any other equity
securities of the Company or any securities convertible into or exchangeable or exercisable for any equity securities of the Company
without the prior written consent of the managing underwriters during such period as reasonably requested by the managing underwriters
(but in no event longer than the seven days before and the 180 days after the pricing of such Underwritten Offering); and subject to
reasonable and customary exceptions to be agreed with such managing underwriter or underwriters. Notwithstanding the foregoing, no holdback
agreements of the type contemplated by this ‎Section 2.05 shall be required of Holders
unless each of the Company’s directors agrees to be bound by a reasonably substantially identical holdback agreement for at least
the same period of time.


 


Section 2.06.     Underwriting
Agreement in Underwritten Offerings. If requested by the managing underwriters for any Underwritten Offering, the Company and the
participating Holders shall enter into an underwriting agreement in customary form with such underwriters for such offering; provided,
however, that no Holder shall be required to make any representations or warranties to the Company or the underwriters (other
than representations and warranties regarding (i) such Holder’s ownership of Registrable Securities to be transferred free
and clear of all liens, claims and encumbrances created by such Holder, (ii) such Holder’s power and authority to effect such
transfer, (iii) such matters pertaining to such Holder’s compliance with securities laws as reasonably may be requested and
(iv) such Holder’s intended method of distribution) or to undertake any indemnification obligations to the Company with respect
thereto, except as otherwise provided in ‎Section 2.08 hereof.


 


Section 2.07.     Registration
Expenses Paid By Company. In the case of any Registration of Registrable Securities required pursuant to this Agreement (including
any Registration that is delayed or withdrawn) or proposed Underwritten Offering pursuant to this Agreement, the Company shall pay all
Registration Expenses regardless of whether the Registration Statement becomes effective or the Underwritten Offering is completed. The
Company shall have no obligation to pay any Selling Expenses for Registrable Securities offered by any Holders.


 






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Section 2.08.     Indemnification.


 


(a)            Indemnification
by the Company. The Company agrees to indemnify and hold harmless, to the fullest extent permitted by law, each Holder and such Holder’s
officers, directors, employees, advisors, Affiliates and agents and each Person who controls (within the meaning of the Securities Act
or the Exchange Act) such Holder from and against any and all losses, claims, damages, liabilities (or actions in respect thereof, whether
or not such indemnified party is a party thereto) and expenses, joint or several (including reasonable costs of investigation and legal
expenses) (each, a “Loss” and collectively “Losses”) arising out of or based upon (i) any
untrue or alleged untrue statement of a material fact contained in any Registration Statement under which the sale of such Registrable
Securities was Registered under the Securities Act (including any final or preliminary Prospectus contained therein or any amendment
thereof or supplement thereto or any documents incorporated by reference therein), or any such statement made in any free writing prospectus
(as defined in Rule 405 under the Securities Act) that the Company has filed or is required to file pursuant to Rule 433(d) of
the Securities Act, or (ii) any omission or alleged omission to state therein a material fact required to be stated therein or necessary
to make the statements therein (in the case of a Prospectus, preliminary Prospectus or free writing prospectus, in light of the circumstances
under which they were made) not misleading; provided, however, that the Company shall not be liable to any particular indemnified
party in any such case to the extent that any such Loss arises out of or is based upon an untrue statement or alleged untrue statement
or omission or alleged omission made in any such Registration Statement in reliance upon and in conformity with written information furnished
to the Company by such indemnified party expressly for use in the preparation thereof. This indemnity shall be in addition to any liability
the Company may otherwise have. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf
of such Holder or any indemnified party and shall survive the transfer of such securities by such Holder.





 


(b)            Indemnification
by the Selling Holder. Each selling Holder agrees (severally and not jointly) to indemnify and hold harmless, to the full extent
permitted by law, the Company and the Company’s directors, officers, employees, advisors, Affiliates and agents and each Person
who controls the Company (within the meaning of the Securities Act and the Exchange Act) from and against any Losses arising out of or
based upon (i) any untrue or alleged untrue statement of a material fact contained in any Registration Statement under which the
sale of such Registrable Securities was Registered under the Securities Act (including any final or preliminary Prospectus contained
therein or any amendment thereof or supplement thereto or any documents incorporated by reference therein), or any such statement made
in any free writing prospectus that the Company has filed or is required to file pursuant to Rule 433(d) of the Securities
Act, or (ii) any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make
the statements therein (in the case of a Prospectus, preliminary Prospectus or free writing prospectus, in light of the circumstances
under which they were made) not misleading but only to the extent, in each of cases (i) or (ii), that such untrue statement or omission
is contained in any information furnished in writing by such selling Holder to the Company expressly for inclusion in such Registration
Statement, Prospectus, preliminary Prospectus or free writing prospectus. Except if agreed in writing by the Company and such Selling
Shareholder at the time of the offering of any Registration Securities, it is understood that no such information was furnished by such
selling Holder to the Company for inclusion in any such Registration Statement, Prospectus, preliminary Prospectus or free writing prospectus.
In no event shall the liability of any selling Holder hereunder be greater in amount than the dollar amount of the net proceeds received
by such Holder under the sale of the Registrable Securities giving rise to such indemnification obligation. This indemnity shall be in
addition to any liability the selling Holder may otherwise have. Such indemnity shall remain in full force and effect regardless of any
investigation made by or on behalf of the Company or any indemnified party.


 






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(c)            Conduct
of Indemnification Proceedings. Any Person entitled to indemnification hereunder will (i) give prompt written notice to the
indemnifying party of any claim with respect to which it seeks indemnification (provided that any delay or failure to so notify
the indemnifying party shall relieve the indemnifying party of its obligations hereunder to the extent that it is materially prejudiced
by reason of such delay or failure) and (ii) permit such indemnifying party to assume the defense of such claim with counsel reasonably
satisfactory to the indemnified party; provided, however, that any Person entitled to indemnification hereunder shall have
the right to select and employ separate counsel and to participate in the defense of such claim, but the fees and expenses of such counsel
shall be at the expense of such Person unless (a) the indemnifying party has agreed in writing to pay such fees or expenses, (b) the
indemnifying party shall have failed to assume the defense of such claim within a reasonable time after receipt of notice of such claim
from the Person entitled to indemnification hereunder, (c) the named parties to any proceeding include both such indemnified and
the indemnifying party and the indemnified party has reasonably concluded (based on written advice of counsel) that there may be legal
defenses available to it or other indemnified parties that are different from or in addition to those available to the indemnifying party,
or (d) in the reasonable judgment of any such Person, based upon written advice of its counsel, a conflict of interest may exist
between such Person and the indemnifying party with respect to such claims (in which case, if the Person notifies the indemnifying party
in writing that such Person elects to employ separate counsel at the expense of the indemnifying party, the indemnifying party shall
not have the right to assume the defense of such claim on behalf of such Person). If such defense is not assumed by the indemnifying
party, the indemnifying party will not be subject to any liability for any settlement made without its consent, but such consent may
not be unreasonably withheld, conditioned or delayed. If the indemnifying party assumes the defense, the indemnifying party shall not
have the right to settle such action without the consent of the indemnified party, which consent may not be unreasonably withheld, conditioned
or delayed. No indemnifying party shall consent to entry of any judgment or enter into any settlement without the consent of the indemnified
party which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of an
unconditional release from all liability in respect to such claim or litigation. It is understood that the indemnifying party or parties
shall not, in connection with any proceeding or related proceedings in the same jurisdiction, arising out of the same general allegations
or circumstances, be liable for the fees and expenses of more than one separate firm (in addition to any appropriate local counsel) at
any one time from all such indemnified party or parties unless (x) the employment of more than one counsel has been authorized in
writing by the indemnifying party or parties, (y) an indemnified party has reasonably concluded (based on written advice of counsel)
that there may be legal defenses available to it that are different from or in addition to those available to the other indemnified parties
or (z) a conflict or potential conflict exists or in the reasonable judgment of such indemnified party may exist (based on advice
of counsel to an indemnified party) between such indemnified party or parties and the other indemnified parties, in each of which cases
the indemnifying party shall be obligated to pay the reasonable fees and expenses of such additional counsel.





 






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(d)            Contribution.
If for any reason the indemnification provided for in ‎Section 2.08(a) or ‎Section 2.08(b) is
unavailable to an indemnified party or insufficient to hold it harmless as contemplated by ‎Section 2.08(a) or
‎Section 2.08(b), then the indemnifying party shall, to the fullest extent permitted by
law, in lieu of indemnifying such indemnified party thereunder, contribute to the amount paid or payable by the indemnified party as
a result of such Loss in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and
the indemnified party on the other hand in connection with the statements or omissions which resulted in such Loss as well as any other
relevant equitable considerations. The relative fault shall be determined by reference to, among other things, whether the untrue or
alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied
by the indemnifying party or the indemnified party and the parties’ relative intent, knowledge, access to information and opportunity
to correct or prevent such untrue statement or omission. Notwithstanding anything in this ‎Section 2.08(d) to
the contrary, no indemnifying party (other than the Company) shall be required pursuant to this ‎Section 2.08(d) to
contribute any amount in excess of the amount by which the net proceeds received by such indemnifying party from the sale of Registrable
Securities in the offering to which the Losses of the indemnified parties relate (before deducting expenses, if any) exceeds the amount
of any damages which such indemnifying party has otherwise been required to pay by reason of such untrue statement or omission. The parties
hereto agree that it would not be just and equitable if contribution pursuant to this ‎Section 2.08(d) were
determined by pro rata allocation or by any other method of allocation that does not take account of the equitable considerations
referred to in this ‎Section 2.08(d). No person guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty
of such fraudulent misrepresentation. The amount paid or payable by an indemnified party hereunder shall be deemed to include, for purposes
of this ‎Section 2.08(d), any legal or other expenses reasonably incurred by such indemnified
party in connection with investigating, preparing to defend or defending against or appearing as a third party witness in respect of,
or otherwise incurred in connection with, any such loss, claim, damage, expense, liability, action, investigation or proceeding. If indemnification
is available under this ‎Section 2.08, the indemnifying parties shall indemnify each indemnified
party to the full extent provided in ‎Section 2.08(a) and ‎Section 2.08(b) hereof
without regard to the relative fault of said indemnifying parties or indemnified party.





 


Section 2.09.     Reporting
Requirements; Rule 144. Following the IPO, the Company shall use its reasonable best efforts to be and remain in compliance
with the periodic filing requirements imposed under the SEC’s rules and regulations, including the Exchange Act, and thereafter
shall timely file such information, documents and reports as the SEC may require or prescribe under Section 13 or 15(d) (whichever
is applicable) of the Exchange Act. If the Company is not required to file such reports during such period, it will, upon the request
of any Holder, make publicly available such necessary information for so long as necessary to permit sales pursuant to Rule 144
or Regulation S under the Securities Act, and it will take such further action as any Holder may reasonably request, all to the extent
required from time to time to enable such Holder to sell Registrable Securities without Registration under the Securities Act within
the limitation of the exemptions provided by (a) Rule 144 or Regulation S under the Securities Act, as such Rules may
be amended from time to time, or (b) any rule or regulation hereafter adopted by the SEC.


 


Section 2.10.     Limitations
on Subsequent Registration Rights. The Company agrees that it shall not enter into any agreement with any holder or prospective holder
of any securities of the Company (i) that would allow such holder or prospective holder to include such securities in any Demand
Registration or Piggyback Registration unless, under the terms of such agreement, such holder or prospective holder may include such
securities in any such registration only to the extent that their inclusion would not reduce the amount of the Registrable Securities
of the Holders included therein or (ii) on terms otherwise more favorable than this Agreement.


 






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Article 3

MISCELLANEOUS


 


Section 3.01.     Term.
This Agreement shall terminate at such time as there are no Registrable Securities or Class B Shares convertible into Registrable
Securities, except for the provisions of ‎Section 2.08 and all of this ‎Article 3,
which shall survive any such termination.


 


Section 3.02.     Notices.
All notices or other communications under this Agreement shall be in writing and shall be deemed to be duly given when (a) delivered
in person or (b) deposited in the United States mail or private express mail, postage prepaid, addressed as follows:


 


If to a Pre-IPO Shareholder, to its address as
set forth below:


 


	Guaraci Investments
    Ltd.
	Craigmuir Chambers, Road Town,
    Tortola
	VG 1110, British Virgin Islands
	Attention: Fernando Matt
	E-mail: fernando@ciandt.com
	 
	Bruno Guiçardi
	1 Surrey Rd, Summit, NJ
	07901-3218, United States of
    America
	Attention: Bruno Guiçardi
	E-mail: bruno@ciandt.com
	 
	Ferreira Guiçardi
    Family Trust
	The Goldman Sachs Trust Company
	200 Bellevue Parkway, Suite 250 | Wilmington, DE 19809
	Attention: Bruno Guiçardi
	E-mail: bruno@ciandt.com
	 
	ENIAC Capital Group Ltd.
	Craigmuir Chambers, Road Town,
    Tortola
	VG 1110, British Virgin Islands
	Attention: Cesar Gon
	E-mail: cesar@ciandt.com
	 
	AI Calypso Brown LLC
	Av.
                                            Brig. Faria Lima 3311, 9o andar, 04538-133

    São Paulo, SP, Brasil

	Attention: Brenno Raiko, Marcelo
    Penna and Priscila Antunes
	E-mail: mpenna@adventinternational.com.br;
    

    pantunes@adventinternational.com.br



 






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	AI Iapetus
    Grey LLC
	Av. Brig. Faria Lima 3311, 9o andar, 04538-133

    São Paulo, SP, Brasil

	Attention: Brenno Raiko, Marcelo
    Penna and Priscila Antunes
	E-mail: mpenna@adventinternational.com.br;

    pantunes@adventinternational.com.br
	Av. Brig. Faria Lima 3311, 9o andar, 04538-133

    São Paulo, SP, Brasil

	 
	AI Titan Black LLC
	Av. Brig. Faria Lima 3311, 9o andar, 04538-133

    São Paulo, SP, Brasil

	Attention: Brenno Raiko, Marcelo
    Penna and Priscila Antunes
	E-mail: mpenna@adventinternational.com.br;

    pantunes@adventinternational.com.br
	Av. Brig. Faria Lima 3311, 9o andar, 04538-133

    São Paulo, SP, Brasil

	 
	If to the Company to:
	 
	CI&T Inc
	Maples Corporate Services Limited,
PO Box 309, Ugland House, Grand Cayman
	KY1-1104, Cayman Islands
	13086-902- Brazil
	Attention: Stanley Rodrigues
and Marcela Masiero
 E-mail: stanley@ciandt.com; mmasiero@ciandt.com
	 
	with a copy (which shall not
    constitute notice) to:
	 
	Cleary Gottlieb Steen &
    Hamilton LLP
	One Liberty Plaza
	New York, NY 10006
	Attention: Francesca L. Odell





 


Any party may, by notice to the other party, change the address to
which such notices are to be given.


 


Section 3.03.     Successors,
Assigns and Transferees. This Agreement and all provisions hereof shall be binding upon and inure to the benefit of the parties hereto
and their respective successors and permitted assigns. The Company may assign this Agreement at any time in connection with a sale or
acquisition of the Company, whether by merger, consolidation, sale of all or substantially all of the Company’s assets, or similar
transaction, without the consent of the Holders; provided that the successor or acquiring Person agrees in writing to assume all of the
Company’s rights and obligations under this Agreement. A Pre-IPO Shareholder may assign its rights and obligations under this Agreement
to any transferee that (i) is a Permitted Transferee and (ii) acquires from such Pre-IPO Shareholder in a private placement
a number of Class A Shares (including those derived from a conversion of Class B Shares) equal to at least 5% of the aggregate
number of outstanding Class A Shares and Class B Shares and executes an agreement to be bound hereby in the form attached hereto
as Exhibit A, an executed counterpart of which shall be furnished to the Company. Notwithstanding the foregoing, in each case, if
such transfer is subject to covenants, agreements or other undertakings restricting transferability thereof, the Registration Rights
shall not be transferred in connection with such transfer unless such transferee complies with all such covenants, agreements and other
undertakings. Except as set forth in this ‎Section 3.03, the Holders may not assign their
rights and obligations hereunder.


 






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Section 3.04.     GOVERNING
LAW; NO JURY TRIAL.


 


(a)            This
Agreement shall be governed by and construed and interpreted in accordance with the laws of the State of New York, without regard to
the conflict of laws principles thereof that would result in the application of any law other than the laws of the State of New York.
EACH OF THE PARTIES HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH
RESPECT TO ANY COURT PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF AND PERMITTED UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE
TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. EACH OF THE PARTIES HEREBY (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY
OF THE 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 HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED
BY THIS AGREEMENT, AS APPLICABLE.


 


(b)            With
respect to any Action relating to or arising out of this Agreement, each party to this Agreement irrevocably (i) consents and submits
to the exclusive jurisdiction of the courts of the State of New York and any court of the United States located in the Borough of Manhattan
in New York City; (ii) waives any objection which such party may have at any time to the laying of venue of any Action brought in
any such court, waives any claim that such Action has been brought in an inconvenient forum and further waives the right to object, with
respect to such Action, that such court does not have jurisdiction over such party; and (iii) consents to the service of process
at the address set forth for notices in ‎Section 3.02 herein; provided, however,
that such manner of service of process shall not preclude the service of process in any other manner permitted under applicable law.


 


Section 3.05.     Specific
Performance. In the event of any actual or threatened default in, or breach of, any of the terms, conditions and provisions of this
Agreement, the party or parties who are or are to be thereby aggrieved shall have the right to seek specific performance and injunctive
or other equitable relief of its rights under this Agreement, in addition to any and all other rights and remedies at law or in equity,
and all such rights and remedies shall be cumulative.


 


Section 3.06.     Headings.
The article, section and paragraph headings contained in this Agreement are for reference purposes only and shall not affect in any way
the meaning or interpretation of this Agreement.


 






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Section 3.07.     Severability.
If any provision of this Agreement or the application thereof to any Person or circumstance is determined by a court of competent jurisdiction
to be invalid, void or unenforceable, the remaining provisions hereof or the application of such provision to Persons or circumstances
or in jurisdictions other than those as to which it has been held invalid or unenforceable, shall remain in full force and effect and
shall in no way be affected, impaired or invalidated thereby, so long as the economic or legal substance of the transactions contemplated
hereby is not affected in any manner adverse to any party. Upon such determination, the parties shall negotiate in good faith in an effort
to agree upon such a suitable and equitable provision to effect the original intent of the parties.





 


Section 3.08.     Amendment;
Waiver.


 


(a)            This
Agreement may not be amended or modified and waivers and consents to departures from the provisions hereof may not be given, except by
an instrument or instruments in writing making specific reference to this Agreement and signed by the Company and Holders of a majority
of the Registrable Securities as of such time, for purposes of which calculation Registrable Securities shall be deemed to include Class B
Shares convertible into Registrable Securities; provided, however, that any amendment, modification or waiver that results
in a non-pro rata material adverse effect on the rights of a Holder under this Agreement will require the written consent of such
Holder.


 


(b)            Waiver
by any party of any default by the other party of any provision of this Agreement shall not be deemed a waiver by the waiving party of
any subsequent or other default, nor shall it prejudice the rights of the other party.


 


Section 3.09.     Further
Assurances. Each of the parties hereto shall execute and deliver all additional documents, agreements and instruments and shall do
any and all acts and things reasonably requested by the other party hereto in connection with the performance of its obligations undertaken
in this Agreement.


 


Section 3.10.     Counterparts.
This Agreement may be executed in one or more counterparts, all of which shall be considered one and the same agreement, and shall become
effective when one or more counterparts have been signed by each of the parties and delivered to the other party. Execution of this Agreement
or any other documents pursuant to this Agreement by facsimile or other electronic copy of a signature shall be deemed to be, and shall
have the same effect as, executed by an original signature.


 


[The remainder of page intentionally left
blank. Signature page follows.]


 






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IN WITNESS WHEREOF, the parties hereto have caused this Agreement
to be duly executed as of the date first written above.


 


	 	CI&T Inc
	 	 
	 	By:	        
	 	Name:
	 	Title:
	 	 
	 	Guaraci Investments Ltd
	 	 
	 	By:	 
	 	Name:
	 	Title:
	 	 
	 	Bruno Guiçardi
	 	 
	 	By:	 
	 	Title:
	 	 
	 	Ferreira Guiçardi Family Trust
	 	 
	 	By:	 
	 	Name:
	 	Title:
	 	 
	 	ENIAC Capital Group Ltd.
	 	 
	 	By:	 
	 	Name:
	 	Title:
	 	 
	 	AI Calypso Brown LLC
	 	 
	 	By:	 
	 	Name:
	 	Title:
	 	 
	 	AI Iapetus Grey LLC
	 	 
	 	By:	 
	 	Name:
	 	Title:
	 	 
	 	AI Titan Black LLC
	 	 
	 	By:	 
	 	Name:
	 	Title:


 


[Signature Page to Registration
Rights Agreement]


 






    


     


    










 


EXHIBIT A


 


THIS INSTRUMENT
forms part of the Registration Rights Agreement (the “Agreement”), dated as of     ,
2021, by and among CI&T Inc, a Cayman Islands exempted company with limited liability duly registered with the Cayman Islands Registrar
of Companies, whose registered office is at the offices of Maples Corporate Services Limited, PO Box 309, Ugland House, Grand Cayman,
KY1-1104, Cayman Islands (the “Company”), and Guaraci Investments Ltd. (“Guaraci Investments”),
[the Ferreira Guiçardi Family Trust], Bruno Guiçardi [(together with the the Ferreira Guiçardi Family Trust, “Bruno
Guiçardi”)], ENIAC Capital Group Ltd. (“ENIAC Capital”), AI Calypso Brown LLC (“AI Calypso”),
AI Iapetus Grey LLC (“AI Iapetus”), AI Titan Black LLC (“AI Titan Black” and together with AI Calypso,
AI Iapetus, Guaraci Investments, Bruno Guiçardi and ENIAC Capital, the “Pre-IPO Shareholders”). The undersigned
hereby acknowledges having received a copy of the Agreement and having read the Agreement in its entirety, and for good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, and intending to be legally bound, hereby agrees that the
terms and conditions of the Agreement binding upon and inuring to the benefit of [insert name of Pre-IPO Shareholder from which Class A
Shares or Class B Shares were acquired] shall be binding upon and inure to the benefit of the undersigned and its successors
and permitted assigns as if it were such [Pre-IPO Shareholder] as an original party to the Agreement.


 


IN WITNESS WHEREOF, the undersigned has executed this instrument on
this          day of                 ,
2021.


 


	 	By:	 
	 	Name:
	 	Title:


 


[Signature Page to Registration
Rights Agreement]