Exhibit 10.2


 





REGISTRATION RIGHTS AGREEMENT


 


THIS REGISTRATION
RIGHTS AGREEMENT (the “Agreement”) is made and entered into as of November 1, 2017, by and between Cinedigm
Corp., a Delaware company (the “Company”) and the purchasers listed on Schedule 1 attached hereto (the
“Purchasers”). The Company and each of the Purchasers have entered into either that certain Stock Purchase Agreement
dated as of June 29, 2017 (the “Purchase Agreement”) by and between the Company and Bison Entertainment Investment
Limited or one of certain other stock purchase agreements, each dated as of November 1, 2017 (the “Other Agreements”)
by and between the Company and each other Purchaser. Terms used but not otherwise defined herein shall have the meanings assigned
to them in the Purchase Agreement.


 


RECITALS


 


WHEREAS, the Company
and each of the Purchasers have entered into the Purchase Agreement or one of the Other Agreements, as applicable, pursuant to
which the Company will issue and sell and the Purchasers will purchase an aggregate of 20,000,000 shares (the “Purchased
Shares”), of the Class A common stock of the Company, par value US$0.001 per share (the “Class A Shares”),
subject to the terms and conditions thereof; and


 


WHEREAS, it is a condition
to the Closing that, among other things, this Agreement has been executed and delivered by the parties hereto.


 


NOW, THEREFORE, in
consideration of the foregoing premises, mutual promises and covenants contained herein and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the parties agree as follows:


 


AGREEMENT


 


		1.	Definitions



 


For the purposes of
this Agreement:


 


		(a)	Registrable Securities



 


“Registrable Securities”
shall mean the Purchased Shares, together with any Class A Shares obtained by each Purchaser or any party that controls, is controlled
by or is under common control with such Purchaser (a “Related Transferee” of such Purchaser) through any stock
split, stock dividend or any similar issuance in respect of the Purchased Shares.


 


Notwithstanding the foregoing,
“Registrable Securities” shall exclude (i) any Registrable Securities sold by a person in a transaction in which
rights under this Agreement are not expressly assigned in accordance with this Agreement, (ii) any Registrable Securities sold
into the public market, whether sold pursuant to Rule 144 (“Rule 144”) promulgated under the Securities Act
of 1933, as amended (the “1933 Act”), or in a registered offering, or otherwise, or (iii) any Registrable Securities
upon becoming eligible for sale without restriction by the holder thereof pursuant to Rule 144.


 






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		(b)	The Outstanding Registrable Securities



 


The number of “the Outstanding
Registrable Securities” means the number of Class A Shares held by the Holders which are Registrable Securities.


 


		(c)	Holder



 


“Holder” shall
mean any Purchaser and any permitted assignee of the Registrable Securities to whom rights under this Agreement have been duly
assigned in accordance with this Agreement.


 


		(d)	Form S-3



 


“Form S-3” shall
mean any such form under the 1933 Act being in effect on the date hereof or any successor registration form under the 1933 Act
subsequently adopted by the Securities and Exchange Commission of the United States (the “Commission”). Such
form permits the inclusion or incorporation of substantial information by reference to other documents filed by the Company with
the Commission.


 


		2.	Demand Registration



 


		(a)	Request by Holders



 


Subject to Section 9 of this Agreement,
if the Company shall receive a written request from the Holders possessing collectively at least fifteen percent (15%) of the Outstanding
Registrable Securities that the Company file a registration statement under the 1933 Act covering the registration of the resale
of the Registrable Securities pursuant to this Section 2, then the Company shall, within ten (10) business days of the receipt
of such written request, give written notice of such request (“Request Notice”) to all the Holders, and use
its best efforts to effect, as soon as practicable, the registration under the 1933 Act of all Registrable Securities that the
Holders request to be registered in such registration by providing written notice to the Company within twenty (20) days after
receipt of the Request Notice, subject only to the limitations set forth in this Section 2.


 






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		(b)	Underwriting



 


If the Holders initiating the registration
request under this Section 2 (“Initiating Holders”) intend to distribute the Registrable Securities covered
by their request by means of an underwriting, then they shall so advise the Company as a part of their request made pursuant to
this Section 2 and the Company shall include such information in the written notice referred to in Clause 2(a). In such an event,
the right of any Holder to include his Registrable Securities in such registration shall be conditional upon such Holder’s
participation in such underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting (unless
otherwise mutually agreed by a majority in interest of the Initiating Holders and such Holder) to the extent provided herein. All
the Holders proposing to distribute their Registrable Securities through such underwriting shall enter into an underwriting agreement
in customary form with the managing underwriter or underwriters selected for such underwriting by the Holders of a majority of
the Registrable Securities being registered and reasonably acceptable to the Company. Notwithstanding any other provision of this
Section 2, if the underwriter(s) advise(s) the Company in writing that marketing factors require a limitation of the number of
securities to be underwritten, then the Company shall so advise all the Holders of Registrable Securities which would otherwise
be registered and underwritten pursuant hereto, and the number of Registrable Securities that may be included in the underwriting
shall be reduced as required by the underwriter(s) and allocated among the Holders of Registrable Securities on a pro rata basis
according to the number of the Outstanding Registrable Securities held by each Holder requesting registration (including the Initiating
Holders); provided, however, that in any public offering of securities, the right of the underwriter(s) to exclude
shares (including Registrable Securities) from the registration and underwriting as described above shall be restricted so that
all shares that are not Registrable Securities and are held by any other person, including, without limitation, any person who
is an employee, officer or director of the Company (or any subsidiary of the Company) shall first be excluded from such registration
and underwriting before any Registrable Securities are so excluded. If any Holder disapproves of the terms of any such underwriting,
such Holder may elect to withdraw therefrom by written notice to the Company and the underwriter(s), which notice shall be delivered
at least ten (10) business days prior to the effective date of the registration statement. Any Registrable Securities excluded
or withdrawn from such underwriting shall be excluded and withdrawn from the registration.


 


		(c)	Maximum Number of Demand Registrations; Duration of Effectiveness



 


The Company shall be obligated
to effect only three (3) such registrations pursuant to this Section 2; provided, that a registration requested pursuant
to this Section 2 shall not be deemed to have been effected for purposes of this Section 2(c) unless (i) it has been declared effective
by the Commission, (ii) it has remained effective for the period set forth below and (iii) the offering of Registrable Securities
pursuant to such registration is not subject to any stop order, injunction or other order or requirement of the Commission (other
than any such stop order, injunction, or other requirement of the Commission prompted by act or omission of the Holders of Registrable
Securities) that has not been withdrawn. The Company shall use its best efforts to keep effective any registration effected pursuant
to this Section 2 until the earlier of (i) that date that all of the Registrable Securities registered thereon have been sold,
(ii) the date that the Holders whose Registrable Securities are included in such registration notify the Company in writing that
they will not make any further sales thereunder, and (iii) 120 days from the effective date.


 


		(d)	Deferral



 


Notwithstanding the foregoing,
if the Company furnishes to the Holder or Holders initiating a registration request under this Section 2 a certificate signed by
a director of the Company stating that in the good faith judgment of the Board, it would be materially detrimental to the Company
and its shareholders for such registration statement to be filed, then the Company shall have the right to defer such filing for
a period of not more than ninety (90) days after receipt of the request of the Initiating Holders; provided, however,
that the Company may not utilize this right more than once in any twelve (12) month period.


 






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		(e)	Expenses



 


All expenses incurred in connection
with any registration, pursuant to this Section 2, including without limitation all federal and “blue sky” registration,
filing and qualification fees, printer’s and accounting fees, and fees and disbursements of counsel for the Company, shall
be borne by the Company. Each Holder participating in a registration pursuant to this Section 2 shall bear such Holder’s
proportionate share (based on the total number of shares sold in such registration other than for the account of the Company) of
all discounts, commissions or other amounts payable to underwriters or brokers, and the Holders’ legal fees, in connection
with such offering by the Holders. Notwithstanding the foregoing, the Company shall not be required to pay for any expenses of
any registration proceeding begun pursuant to this Section 2 if the registration request is subsequently withdrawn at the request
of the Holders of a majority of the Registrable Securities to be registered, unless the Holders of a majority of the Outstanding
Registrable Securities agree that such registration constitutes the use by the Holders of one (1) demand registration pursuant
to Section 2 (in which case such registration shall also constitute the use by all Holders of Registrable Securities of one (1)
such demand registration); provided, further, however, that if at the time of such withdrawal, the Holders
have learned of a material adverse change in the condition, business, or prospects of the Company not known to the Holders at the
time of their request for such registration and have withdrawn their request for registration with reasonable promptness after
learning of such material adverse change, then the Holders shall not be required to pay any of such expenses and such registration
shall not constitute the use of a demand registration pursuant to this Section 2.


 


		3.	Piggyback Registrations



 


Subject to Section
9 of this Agreement, the Company shall notify all the Holders of Registrable Securities in writing at least thirty (30) days prior
to filing any registration statement under the 1933 Act for purposes of effecting a public offering of securities of the Company
(other than (i) a registration on Form S-4 or Form S-8, or any successor or other forms promulgated for similar purposes, and (ii)
demand registrations pursuant to Section 2) and will afford each such Holder an opportunity to include in such registration statement
all or any part of the Registrable Securities then held by such Holder. Each Holder desiring to include in any such registration
statement all or any part of the Registrable Securities held by such Holder shall within twenty (20) days after receipt of the
above-described notice from the Company, so notify the Company in writing, and in such notice shall inform the Company of the number
of Registrable Securities such Holder wishes to include in such registration statement. If a Holder decides not to include all
of its Registrable Securities in any registration statement thereafter filed by the Company, such Holder shall nevertheless continue
to have the right to include any Registrable Securities in any subsequent registration statement or registration statements as
may be filed by the Company with respect to offerings of its securities, all upon the terms and conditions set forth herein.


 






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		(a)	Underwriting



 


If a registration statement under
which the Company gives notice under this Section 3 is for an underwritten offering, then the Company shall so advise the Holders.
In such event, the right of any such Holder’s Registrable Securities to be included in a registration pursuant to this Section
3 shall be conditional upon such Holder’s participation in such underwriting and the inclusion of such Holder’s Registrable
Securities in the underwriting to the extent provided herein. All the Holders proposing to distribute their Registrable Securities
through such underwriting shall enter into an underwriting agreement in customary form with the managing underwriter or underwriters
selected for such underwriting. Notwithstanding any other provision of this Agreement, if the managing underwriter(s) determine(s)
in good faith that marketing factors require a limitation of the number of shares to be underwritten, then the managing underwriter(s)
may exclude shares from the registration and the underwriting, and the number of shares that may be included in the registration
and the underwriting shall be allocated, first to the Company, and second, to each of the Holders requesting inclusion
of their Registrable Securities in such registration statement on a pro rata basis based on the total number of Registrable Securities
then held by each such Holder; provided, however, that the right of the underwriter(s) to exclude shares (including
Registrable Securities) from the registration and underwriting as described above shall be restricted so that all shares that are
not Registrable Securities and are held by any other person, excluding the Company but including, without limitation, any person
who is an employee, officer or director of the Company (or any subsidiary of the Company) shall first be excluded from such registration
and underwriting before any Registrable Securities are so excluded. If any Holder disapproves of the terms of any such underwriting,
such Holder may elect to withdraw therefrom by written notice to the Company and the underwriter(s), delivered at least ten (10)
business days prior to the effective date of the registration statement. Any Registrable Securities excluded or withdrawn from
such underwriting shall be excluded and withdrawn from the registration.


 


		(b)	Expenses



 


All expenses incurred in connection
with a registration pursuant to this Section 3 (excluding underwriters’ and brokers’ discounts and commissions relating
to shares sold by the Holders and legal-fees of counsel for the Holders), including, without limitation all federal and “blue
sky” registration, filing and qualification fees, printer’s and accounting fees, and fees and disbursements of counsel
for the Company, shall be borne by the Company.


 


		(c)	Not Demand Registration



 


Registration pursuant to this Section
3 shall not be deemed to be a demand registration as described in Section 2 above. Except as otherwise provided herein, there shall
be no limit on the number of times the Holders may request registration of Registrable Securities under this Section 3.


 






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		4.	Form S-3 Registration



 


		4.1	Subject to Section 9 of this Agreement, in case the Company shall,
at any time when it is eligible to use Form S-3, receive from the Holder(s) of a majority of all the Outstanding Registrable Securities
a written request or requests that the Company effect a registration on Form S-3 and any related qualification or compliance with
respect to the resale of all or a part of the Registrable Securities owned by such Holder or Holders, then the Company will:



 


		(a)	Notice



 


promptly give written notice of
the proposed registration and the Holder’s or Holders’ request therefor, and any related qualification or compliance,
to all other Holders of Registrable Securities;


 


		(b)	Registration



 


as soon as practicable, effect
such registration and all such qualifications and compliances as may be so requested and as would permit or facilitate the sale
and distribution of all or such portion of such Holders or Holders’ Registrable Securities as are specified in such request,
together with all or such portion of the Registrable Securities of any other Holder or Holders joining in such request as are specified
in a written request given within twenty (20) days after the Company provides the notice contemplated by paragraph (a) of this
Section 4.1; and


 


		(c)	Maximum Number of Form S-3 Registrations; Duration of Effectiveness



 


be obligated to effect (i) only
one (1) such registration in any calendar year pursuant to this Section 4, and (ii) no such registration with respect to any Registrable
Securities while any other such registration with respect to such Registrable Securities pursuant to this Section 4 remains effective.
The Company shall use its best efforts to keep the Form S-3 continuously effective until the date on which all Registrable Securities
covered by the Form S-3 have been sold thereunder in accordance with the plan and method of distribution disclosed in the prospectus
included in the Form S-3 or any amendment or supplement thereto, or cease to constitute Registrable Securities.


 


		4.2	Expenses



 


The Company shall pay all expenses
incurred in connection with each registration requested pursuant to this Section 4 (excluding underwriters’ or brokers’
discounts and commissions relating to shares sold by the Holders and legal fees of counsel for the Holders), including without
limitation federal and “blue sky” registration, filing and qualification fees, printer’s and accounting fees,
and fees and disbursements of counsel for the Company.


 






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		4.3	Deferral



 


Notwithstanding the foregoing,
if the Holder or Holders of a majority of all the Outstanding Registrable Securities request the filing of a registration statement
pursuant to this Section 4 and the Company furnishes to such Holder or Holders a certificate signed by a director of the Company
stating that in the good faith judgment of the Board, it would be materially detrimental to the Company and its shareholders for
such registration statement to be filed, then the Company shall have the right to defer such filing for a period of not more than
ninety (90) days after receipt of the request of the initiating Holders; provided, however, that the Company may
not utilize this right more than once in any twelve (12) month period.


 


		4.4	Not Demand Registration



 


Form S-3 registrations pursuant
to this Section 4 shall not be deemed to be demand registrations as described in Section 2 above. Except as otherwise provided
herein, there shall be no limit on the number of times the Holder or Holders may request registration of Registrable Securities
under this Section 4.


 


		5.	Obligations of the
Company



 


Whenever required to
effect the registration of any Registrable Securities under this Agreement, the Company shall, as expeditiously as reasonably possible:


 


		(a)	Registration Statement



 


prepare and file with the Commission
a registration statement with respect to such Registrable Securities and use its best efforts to cause such registration statement
to become effective;


 


		(b)	Amendments and Supplements



 


prepare and file with the Commission
such amendments and supplements to such registration statement and the prospectus used in connection with such registration statement
as may be necessary to comply with the provisions of the 1933 Act with respect to the disposition of all securities covered by
such registration statement;


 


		(c)	Prospectuses



 


furnish to the Holders such number
of conformed copies of the applicable registration statement and each such amendment and supplement thereto (including in each
case all exhibits), and copies of a prospectus, including a preliminary prospectus, if applicable, in conformity with the requirements
of the 1933 Act, and such other documents as they may reasonably request in order to facilitate the disposition of the Registrable
Securities owned by them that are included in such registration;


 


		(d)	Blue Sky



 


use its best efforts to register
and qualify the securities covered by such registration statement under such other securities or Blue Sky laws of such jurisdictions
as shall be reasonably requested by the Holders, provided that the Company shall not be required in connection therewith or as
a condition thereto to qualify to do business or to file a general consent to service of process in any such states or jurisdictions;


 






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		(e)	Underwriting



 


in the event of any underwritten
public offering, enter into and perform its obligations under an underwriting agreement in usual and customary form, with the managing
underwriter(s) of such offering. Each Holder participating in such underwriting shall also enter into and perform its obligations
under such an agreement;


 


		(f)	Notification



 


notify each Holder of Registrable
Securities covered by such registration statement at any time (i) when a prospectus relating thereto is required to be delivered
under the 1933 Act of the happening of any event as a result of which the prospectus included in such registration statement, as
then in effect, includes an untrue statement of a material fact or omits to state a material fact required to be stated therein
or necessary to make the statements therein not misleading in the light of the circumstances then existing, (ii) of the issuance
by the Commission of any stop order suspending the effectiveness of such registration statement or the initiation of any proceedings
for that purpose, (iii) of the receipt by the Company or its legal counsel of any notification with respect to the suspension of
the qualification of the Class A Shares for sale in any jurisdiction or the initiation or threatening of any proceeding for such
purpose, and (iv) of any request by the Commission for amendments or supplements to such Registration Statement or the prospectus
included therein or for additional information;


 


		(g)	Post-Effective Amendments



 


upon the occurrence of any event
contemplated by Section 5(f)(i) above, promptly prepare a post-effective amendment to such registration statement or a supplement
to the related prospectus or file any other required document so that, as thereafter delivered to the Holders, the prospectus will
not contain an untrue statement of a material fact or omit to state any material fact necessary to make the statements therein,
in light of the circumstances under which they were made, not misleading. If the Company notifies the Holders in accordance with
Section 5(f)(i) above to suspend the use of the prospectus until the requisite changes to the prospectus have been made, then the
Holders shall suspend use of such prospectus and use their reasonable efforts to return to the Company all copies of such prospectus
(at the Company’s expense) other than permanent file copies then in such Holder’s possession, and the period of effectiveness
of such registration statement provided for above shall be extended by the number of days from and including the date of the giving
of such notice to the date Holders shall have received such amended or supplemented prospectus pursuant to this Section 5(g);


 






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		(h)	Opinion and Comfort Letter



 


furnish, at the request of any
Holder requesting registration of Registrable Securities, on the date that such Registrable Securities are delivered to the underwriters
for sale, if such securities are being sold through underwriters, or, if such securities are not being sold through underwriters,
on the date that the registration statement with respect to such securities becomes effective, (i) an opinion, dated as of such
date, of the counsel representing the Company for the purposes of such registration, in form and substance as is customarily given
to underwriters in an underwritten public offering and reasonably satisfactory to a majority in interest of the Holders requesting
registration, addressed to the underwriters, if any, and to the Holders requesting registration of Registrable Securities and (ii)
a “comfort” letter dated as of such date, from the independent auditors of the Company, in form and substance as is
customarily given by independent auditors to underwriters in an underwritten public offering and reasonably satisfactory to a majority
in interest of the Holders requesting registration, addressed to the underwriters, if any, and to the Holders requesting registration
of Registrable Securities;


 


		(i)	Compliance with Securities Law



 


otherwise use its reasonable efforts
to comply with all applicable rules and regulations of the Commission, and make earnings statements satisfying the provisions of
Section 11(a) of the 1933 Act generally available to the Holders no later than 45 days after the end of any twelve-month period
(or 90 days, if such period is a fiscal year) (i) commencing at the end of any fiscal quarter in which Registrable Securities are
sold to underwriters in an underwritten public offering, or (ii) if not sold to underwriters in such an offering, beginning with
the first month of the Company’s first fiscal quarter commencing after the effective date of the registration statement,
which statements shall cover said twelve-month periods; provided, however, that the filing with the Commission of periodic reports
on Form 10-K and Form 10-Q (including reports filed in compliance with the time extensions permitted by Rule 12b-25 promulgated
under the 1933 Act) shall satisfy the requirements of this Section 5(i).


 


		(j)	Listing Applications



 


use its reasonable efforts to cause all such Registrable
Securities to be listed on each securities exchange or quotation system on which similar securities issued by the Company are listed
or traded;


 


		(k)	Company Disclosure



 


make reasonably available for inspection
by the representatives of the Holders, any underwriter participating in any disposition pursuant to such Registration Statement
and any attorney, accountant or other agent retained by such representatives or any such underwriter all relevant financial and
other records, pertinent corporate documents and properties of the Company and cause the Company’s officers, directors and
employees to supply all relevant information reasonably requested by such representative or any such underwriter, attorney, accountant
or agent in connection with the registration; and


 






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		(l)	Transfer Agent



 


use reasonable efforts to procure
the cooperation of the Company’s transfer agent in settling any offering or sale of Registrable Securities, including with
respect to the transfer of physical stock certificates into book-entry form in accordance with any procedures reasonably requested
by the Holders or the underwriters.


 


		6.	Furnish Information



 


It shall be a condition
precedent to the obligations of the Company to take any action pursuant to Sections 2, 3 or 4 that the selling Holder or Holders
shall furnish to the Company such information regarding themselves, the Registrable Securities held by them, other Company securities
held by them, and the intended method of disposition of such Registrable Securities as shall be required to timely effect the registration
of their Registrable Securities.


 


		7.	Indemnification



 


In the event any Registrable
Securities are included in a registration statement under Section 2, 3 or 4:


 


		(a)	By the Company



 


To the extent permitted by law
the Company will indemnify and hold harmless each Holder, the partners, officers and directors of each Holder, any underwriter
(as determined in the 1933 Act) for such Holder and each person, if any, who controls such Holder or underwriter within the meaning
of the 1933 Act or the Securities Exchange Act of 1934, as amended (the “1934 Act”), against any losses, claims,
damages, or liabilities (joint or several) to which they may become subject under the 1933 Act, the 1934 Act or other federal or
state law, insofar as such losses, claims, damages, or liabilities (or actions in respect thereof) arise out of or are based upon
any of the following statements, omissions or violations (collectively a “Violation”):


 


		(i)	any untrue statement or alleged untrue statement of a material fact
contained in such registration statement, including any preliminary prospectus or final prospectus contained therein or any amendments
or supplements thereto; 



 


		(ii)	the omission or alleged omission to state therein a material fact
required to be stated therein, or necessary to make the statements therein not misleading, or



 


		(iii)	any violation or alleged violation by the Company of the 1933 Act,
the 1934 Act, any federal or state securities law or any rule or regulation promulgated under the 1933 Act, the 1934 Act or any
federal or state securities law in connection with the offering covered by such registration statement;



 


and the Company will reimburse
each such Holder, partner, officer or director, underwriter or controlling person for any legal or other expenses reasonably incurred
by them, as incurred, in connection with investigating or defending any such loss, claim, damage, liability or action; provided,
however, that the indemnity agreement contained in paragraph 7(a) shall not apply to amounts paid in settlement of any such
loss, claim, damage, liability or action if such settlement is effected without the consent of the Company (which consent shall
not be unreasonably withheld), nor shall the Company be liable in any such case for any such loss, claim, damage, liability or
action to the extent that it arises out of or is based upon a Violation which occurs in reliance upon and in conformity with written
information furnished expressly for use in connection with such registration by such Holder, partner, officer, director, underwriter
or controlling person of such Holder; and provided, further, that the Company shall only be obligated to reimburse legal
expenses for one counsel for all Holders.


 






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		(b)	By Selling Holders



 


To the extent permitted by law,
each selling Holder will indemnify and hold harmless the Company, each of its directors, each of its officers who have signed the
registration statement, each person, if any, who controls the Company within the meaning of the 1933 Act, any underwriter and any
other Holder selling securities under such registration statement or any of such other Holder’s partners, directors or officers
or any person who controls such Holder within the meaning of the 1933 Act or the 1934 Act, against any losses, claims, damages
or liabilities (joint or several) to which the Company or any such director, officer, controlling person, underwriter or other
such Holder, partner or director, officer or controlling person of such other Holder may become subject under the 1933 Act, the
1934 Act or other federal or state law, insofar as such losses, claims, damages or liabilities (or actions in respect thereto)
arise out of or are based upon any Violation, in each case to the extent (and only to the extent) that such Violation occurs in
reliance upon and in conformity with written information furnished by such Holder expressly for use in connection with such registration;
and each such Holder will reimburse any legal or other expenses reasonably incurred by the Company or any such director, officer,
controlling person, underwriter or other Holder, partner, officer, director or controlling person of such other Holder in connection
with investigating or defending any such loss, claim, damage, liability or action: provided, however, that the indemnity
agreement contained in this paragraph 7(b) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability
or action if such settlement is effected without the consent of the Holder, which consent shall not be unreasonably withheld; and
provided, further, that the total amounts payable in indemnity by a Holder under this paragraph 7(b) in respect of
any Violation shall not exceed the net proceeds received by such Holder in the registered offering out of which such Violation
arises.


 


		(c)	Contribution



 


If the indemnification provided
for in this Section 7 from the indemnifying party is unavailable to an indemnified party hereunder in respect of any losses, claims,
damages, liabilities or expenses referred to therein, then the indemnifying party, in lieu of indemnifying such indemnified party,
shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages, liabilities
or expenses in such proportion as is appropriate to reflect the relative fault of the indemnifying party and indemnified parties
in connection with the actions which resulted in such losses, claims, damages, liabilities or expenses, as well as any other relevant
equitable considerations. The relative fault of such indemnifying party and indemnified parties shall be determined by reference
to, among other things, whether any action in question, including any untrue or alleged untrue statement of a material fact or
omission or alleged omission to state a material fact, has been made by, or relates to information supplied by, such indemnifying
party or indemnified parties, and the parties’ relative intent, knowledge, access to information and opportunity to correct
or prevent such action. The amount paid or payable by a party as a result of the losses, claims, damages, liabilities and expenses
referred to above shall be deemed to include any legal or other fees or expenses reasonably incurred by such party in connection
with any investigation or proceeding.


 






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The parties hereto agree that it
would not be just and equitable if contribution pursuant to this Section 7(c) were determined by pro rata allocation or by any
other method of allocation which does not take account of the equitable considerations referred to in the immediately preceding
paragraph. No Person (as defined in the 1934 Act) guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of
the 1933 Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation.


 


		(d)	Notice



 


Promptly after receipt by an indemnified
party under this Section 7 of notice of the commencement of any action (including any governmental action), such indemnified party
will, if a claim in respect thereof is to be made against any indemnifying party under this Section 7, deliver to the indemnifying
party a written notice of the commencement thereof and the indemnifying party shall have the right to participate in, and, to the
extent the indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume the defense thereof
with counsel mutually satisfactory to the parties; provided, however, that an indemnified party shall have the right
to retain its own counsel, with the fees and expenses to be paid by the indemnifying party, if representation of such indemnified
party by the counsel retained by the indemnifying party would be inappropriate due to actual or potential conflict of interests
between such indemnified party and any other party represented by such counsel in such proceeding; provided, however, that
if the Company is the indemnifying party, it shall only be obligated to pay for legal expenses for one counsel for all Holders.
The failure to deliver written notice to the indemnifying party within a reasonable time of the commencement of any such action
shall relieve such indemnifying party of liability to the indemnified party under this Section 7 to the extent the indemnifying
party is prejudiced as a result thereof, but the omission so to deliver written notice to the indemnified party will not relieve
it of any liability that it may have to any indemnified party otherwise than under this Section 7.


 


		(e)	Survival



 


The obligations of the Company
and the Holders under this Section 7 shall survive until the fifth anniversary of the completion of any offering of Registrable
Securities in a registration statement, regardless of the expiration of any statutes of limitation or extensions of such statutes.


 






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		8.	No Registration Rights
to Third Parties



 


Without the prior written
consent of the Holders of a majority in interest of the Outstanding Registrable Securities, the Company covenants and agrees that
it shall not grant, or cause or permit to be created, for the benefit of any person or entity any registration rights of any kind
(whether similar to the demand, “piggyback” or Form S-3 registration rights described in this Agreement, or otherwise)
relating to shares or any other voting securities of the Company, other than rights that are subordinate in right to the Holders.


 


		9.	Assignment



 


The registration rights
under this Agreement may be assigned by any Holder:


 


		(a)	only to a Related Transferee; and 



 


		(b)	such Related Transferee shall have executed a written agreement pursuant to which such person
becomes a party to this Agreement and agrees to be bound by all the provisions hereof.



 


		10.	Reports Under the
1934 Act



 


With a view to making
available to the Holders the benefits of Rule 144 and any other rule or regulation of the Commission that may at any time permit
a Holder to sell securities of the Company to the public without registration or pursuant to a registration on Form S-3, the Company
agrees to:


 


		(a)	make and keep current public information available, as those terms
are understood and defined in Rule 144, at all times after the date hereof; 



 


		(b)	file with the Commission in a timely manner all reports and other
documents required of the Company under the 1934 Act; and



 


		(c)	furnish to any Holder, so long as the Holder owns any Registrable
Securities, forthwith upon request (i) a written statement by the Company that it has complied with the current public information
requirements of Rule 144, and the reporting requirements of Sections 13 and 15(d) of the 1934 Act, or that it qualifies as
a registrant whose securities may be resold by holder(s) thereof pursuant to Form S-3 (at any time after it so qualifies), (ii)
a copy of the most recent annual or quarterly report of the Company and such other reports and documents so filed by the Company,
and (iii) such other information as may be reasonably requested to avail any Holder of any rule or regulation of the Commission
that permits the selling of any such securities without registration or pursuant to such form. 



 






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		11.	Termination of the
Company’s Obligations



 


The Company shall have
no obligations pursuant to Sections 2, 3 and 4 with respect to any Registrable Securities proposed to be sold by a Holder in a
registration pursuant to Section 2, 3 or 4 at the earlier of the date at which such Holder (A) can sell all Registrable Securities
held by it in compliance with Rule 144 or (B) holds one percent (1%) or less of the Company’s outstanding Class A Shares
and all Registrable Securities held by such Holder (together with any affiliate of the Holder with whom such Holder must aggregate
its sales under Rule 144) can be sold in accordance with Rule 144 in any three (3) month period without registration in compliance
with Rule 144. In addition, the Company shall have no obligations pursuant to Sections 2 and 4 hereof from and after such time
as the Holders in the aggregate beneficially own, directly or indirectly, less than fifteen percent (15%) in number of the Purchased
Shares.


 


		12.	Term and Amendment



 


		(a)	Term



 


This Agreement shall become effective
immediately at the Closing, and will terminate upon the earlier of (i) the written consent of the Holders of a majority of the
Registrable Securities then outstanding and entitled to the registration rights set forth in this Agreement or (ii) the termination
of the Company’s obligations hereunder pursuant to Section 11 hereof.


 


		(b)	Amendment



 


Any provision of this Agreement
may be amended and the observance thereof may be waived (either generally or in a particular instance and either retroactively
or prospectively), with the written consent of the Company and the Holders of a majority of the Registrable Securities then outstanding
and entitled to the registration rights set forth in this Agreement. Any amendment or waiver effected in accordance with this Section
12 shall be binding upon all parties hereto including any Holder who become a Holder in connection with an assignment after the
date hereof.


 


		13.	Severability



 


If at any time any
one or more provisions hereof is or becomes invalid, illegal, unenforceable or incapable of performance in any respect, the validity,
legality, enforceability or performance of the remaining provisions hereof shall not thereby in any way be affected or impaired,
and this Agreement shall be construed as if such invalid, illegal or unenforceable provision had never been contained herein.


 


		14.	Entire Agreement



 


This Agreement constitutes
the entire agreement and understanding between the parties in connection with the subject matter of this Agreement and supersedes
all previous proposals, representations, warranties, agreements or undertakings relating thereto whether oral, written or otherwise
and no party hereto has relied or is entitled to rely on any such proposals, representations, warranties, agreements or undertakings.


 






    	 	14	 



    	 



    

 


		15.	Specific Performance.



 


The parties hereto
agree that irreparable damage would occur in the event any provision of this Agreement were not performed in accordance with the
terms hereof and that the parties shall be entitled to specific performance of the terms hereof, in addition to any other remedy
at law or equity.


 


		16.	Counterparts



 


This Agreement may
be executed in any number of counterparts and by the parties on separate counterparts, each of which may be electronically transmitted
and, when so executed and delivered, shall be an original but all the counterparts shall together constitute one and the same instrument.


 


		17.	Notices and Other
Communication



 


Any notice or other
communication to be given under this Agreement shall be in writing and may be sent by post or delivered by hand or given by facsimile,
electronic mail or by courier to the address from time to time designated, the initial address and fax number so designated by
each party being set out in Schedule 2 attached hereto. Any such notice or communication shall be sent to the party to whom it
is addressed and must contain sufficient reference and/or particulars to render it readily identifiable with the subject-matter
of this Agreement. If so delivered by email, hand or given by facsimile such notice or communication shall be deemed received on
the date of dispatch and if so sent by post shall be deemed received three (3) business days after the date of dispatch (in the
case of local mail) and five (5) business days after the date of dispatch (in the case of overseas registered/certified mail).


 


Each person making
a communication hereunder by facsimile shall promptly confirm by telephone to the person to whom such communication was addressed,
but the absence of such confirmation shall not affect the validity of any such communication.


 


		18.	Governing Law and
Jurisdiction



 


This Agreement shall
be governed by and construed in accordance with the laws of State of New York without reference to its conflicts of laws provisions
that would require the application of the laws of any other jurisdiction and the parties irrevocably submit to the non-exclusive
jurisdiction of the New York courts in respect of this Agreement.


 


		19.	Recapitalization,
Exchanges, Etc. Affecting the Shares.



 


The provisions of this Agreement shall apply
to the full extent set forth herein with respect to any and all shares of the Company or any successor or assign of the Company
(whether by merger, consolidation, sale of assets or otherwise) that may be issued in respect of, in exchange for or in substitution
of, the Registrable Securities, and shall be appropriately adjusted for combinations, share splits, recapitalizations, pro rata
distributions of shares and the like occurring after the date of this Agreement.


 






    	 	15	 



    	 



    

 


		20.	Aggregation of Shares



 


All Registrable Securities
held or acquired by any person that controls, is controlled by or is under common control with any Purchaser shall be aggregated
together with respect to such Purchaser for the purpose of determining the availability of any rights under this Agreement.


 


 


 


[Signature Page to Follow]


 


 


 




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IN WITNESS WHEREOF, the Parties have caused
this Agreement to be executed as of the day and year first above written.


 





	 	COMPANY
	 	 
	 	CINEDIGM CORP.
	 	 
	 	 
	 	By: 	/s/ Gary Loffredo
	 	 	Name: Gary Loffredo
	 	 	Title: Secretary


 





    	 	17	 



    	 



    


 





	 	PURCHASER
	 	 
	 	BISON ENTERTAINMENT INVESTMENT LIMITED
	 	 
	 	 
	 	By: 	/s/ Peixin Xu
	 	 	Name: Peixin Xu
	 	 	Title: President and Director



 



    	 	18	 



    	 



    


 





	 	PURCHASER
	 	 
	 	CHRISTOPHER AND JAMIE MCGURK LIVING TRUST
	 	 
	 	 
	 	By: 	/s/ Christopher
McGurk
	 	 	Name: Christopher
McGurk
	 	 	Title: Trustee



 



    	 	19	 



    	 



    


 


SCHEDULE 1


 


PURCHASERS


 


 


	Name	Initial Number of Registrable Securities
	Bison Entertainment Investment Limited	19,666,667
	Christopher and Jamie McGurk Living Trust	333,333



 



    	 	20	 



    	 



    

 


SCHEDULE 2


 


ADDRESSES AND FAX NUMBERS FOR NOTIFICATION


 


	1.	Name : 	Bison Entertainment Investment Limited
	 	Address:	
        Unit 1501-2, 15/F, Sino Plaza

        255 Gloucester Road

        Causeway Bay, Hong Kong

	 	Attention:	Mr. Peng Jin
	 	Email:	Pengjin@bisonholding.com
	 	 	 
	 	With a copy to:
	 	Name:	Jones Day
	 	Address:	
        1755 Embarcadero Road

        Palo Alto, California 94303

        United States of America

	 	Attention:	Alan Seem
	 	Email: 	aseem@jonesday.com
	 	Fax No.:	650-739-3900
	 	 	 
	2.	Name:	Cinedigm Corp. 
	 	Address:	
        15301 Ventura Boulevard, Bldg.
B, Suite 420

        Sherman Oaks, CA 91403

	 	Attention:	Christopher J. McGurk
	 	Email: 	cmcgurk@cinedigm.com
	 	Fax No.:	 
	 	 	 
	 	With a copy to:
	 	Name:	Kelley Drye & Warren LLP
	 	Address:	
        101 Park Avenue

        New York, New York
10178

	 	Attention:	Jonathan Cooperman and Merrill B. Stone
	 	Email:	jcooperman@kelleydrye.com; mstone@kelleydrye.com
	 	Fax No.:	212-808-7897
	 	 	 
	3.	Name : 	Christopher and Jamie McGurk Living Trust
	 	Address:	
        c/o Cinedigm Corp

        15301 Ventura Boulevard, Bldg.
B, Suite 420

        Sherman Oaks, CA 91403

	 	Attention:	Christopher J. McGurk
	 	Email:	cmcgurk@cinedigm.com
	 	Fax No.:	 



 



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