Exhibit 10.2


 


Execution Version


 


COMPANY COMMON STOCK PURCHASE AGREEMENT


 


This COMPANY COMMON STOCK PURCHASE AGREEMENT
is made and entered into as of May 17, 2022 (this “Agreement”), by and between CF Principal Investments
LLC, a Delaware limited liability company (the “Investor”) and Lionheart Acquisition Corporation II, a Delaware
corporation (to be renamed MSP Recovery, Inc.) (the “Company”). For purposes of this Agreement, references to
the “Company” shall also include any successor entity to the Company by any Fundamental Transaction (as defined below), but
only from and after the closing of such Fundamental Transaction, including but not limited to, the resulting publicly listed company pursuant
to the transactions contemplated by the Membership Interest Purchase Agreement, dated as of July 11, 2021 (as it may be amended, supplemented
or otherwise modified from time to time in accordance with its terms, the “Merger Agreement”), by and among
the Company, Lionheart II Holdings, LLC, a newly formed wholly owned subsidiary of the Company, the MSP Purchased Companies (as defined
in the Merger Agreement) (collectively, “MSP”), the members of MSP (the “Members”),
and John H. Ruiz, in his capacity as the representative of the Members.


 


RECITALS


 


WHEREAS, the parties desire that, upon the
terms and subject to the conditions and limitations set forth herein, the Company may issue and sell to the Investor, from time to time
as provided herein, and the Investor shall purchase from the Company up to the lesser of (i) $1,000,000,000 in aggregate gross purchase
price of newly issued Class A common stock, par value $0.0001 per share, of the Company (the “Common Stock”),
and (ii) the Exchange Cap (to the extent applicable under Section 3.3);


 


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


 


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


 


WHEREAS, in consideration for the Investor’s
execution and delivery of this Agreement, the Company hereby agrees to pay the Commitment Fee to the Investor, by wire transfer of immediately
available funds in accordance with Section 10.1(ii);


 


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


 






     


     


    

 


Article
I

DEFINITIONS


 


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


 


Article
II

PURCHASE AND SALE OF COMMON STOCK


 


Section 2.1          
Purchase and Sale of Stock. Upon the terms and subject to the conditions of this Agreement, during the Investment Period,
the Company, in its sole discretion, shall have the right, but not the obligation, to issue and sell to the Investor, and the Investor
shall purchase from the Company up to the lesser of (i) $1,000,000,000 (the “Total Commitment”) in aggregate
gross purchase price of duly authorized, validly issued, fully paid and non-assessable shares of Common Stock and (ii) the Exchange Cap,
to the extent applicable under Section 3.3 (such lesser amount of shares of Common Stock, the “Aggregate Limit”),
by the delivery to the Investor of VWAP Purchase Notices as provided in Article III.


 


Section 2.2          
Closing Date; Settlement Dates. This Agreement shall become effective and binding (the “Closing”)
upon the delivery of counterpart signature pages of this Agreement and the Registration Rights Agreement executed by each of the parties
hereto and thereto. In consideration of and in express reliance upon the representations, warranties and covenants contained in, and upon
the terms and subject to the conditions of, this Agreement, during the Investment Period, the Company, at its sole option and discretion,
may issue and sell to the Investor, and, if the Company elects to so issue and sell, the Investor shall purchase from the Company, the
Shares in respect of each VWAP Purchase. The delivery of Shares in respect of each VWAP Purchase, and the payment for such Shares, shall
occur in accordance with Section 3.2, provided that all of the conditions precedent in Article VII shall have been fulfilled at
the applicable times set forth in Article VII.


 


Section 2.3          
Initial Public Announcements and Required Filings. The Company shall, not later than 5:00 p.m., New York City time,
on the next business day following the date of this Agreement, file with the Commission a Current Report on Form 8-K disclosing the execution
of this Agreement and the Registration Rights Agreement by the Company and the Investor and describing the material terms thereof, including,
without limitation, the Commitment Fee payable by the Company to the Investor in accordance with Section 10.1(ii), and attaching as exhibits
thereto copies of each of this Agreement and the Registration Rights Agreement and if applicable, any press release issued by the Company
disclosing the execution of this Agreement and the Registration Rights Agreement by the Company (including all exhibits thereto, the “Current
Report”). The Company shall provide the Investor and its legal counsel a reasonable opportunity to comment on a draft of
the Current Report prior to filing the Current Report with the Commission and shall give due consideration to all such comments. From
and after the filing of the Current Report with the Commission, the Company shall have publicly disclosed all material, nonpublic information
delivered to the Investor (or the Investor’s representatives or agents) by the Company or any of its Subsidiaries, or any of their
respective officers, directors, employees, agents or representatives (if any) in connection with the transactions contemplated by the
Transaction Documents. The Company shall use its commercially reasonable efforts to prepare and, as soon as practicable, file with the
Commission the Initial Registration Statement and any New Registration Statement covering only the resale by the Investor of the Registrable
Securities in accordance with the Securities Act and the Registration Rights Agreement. At or before 8:30 a.m. (New York City time) on
the second (2nd) Trading Day immediately following the Effective Date of the Initial Registration Statement and any New Registration Statement
(or any post-effective amendment thereto), the Company shall use its commercially reasonable efforts to file with the Commission in accordance
with Rule 424(b) under the Securities Act the final Prospectus to be used in connection with sales pursuant to such Registration Statement
(or post-effective amendment thereto).


 






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Article
III

PURCHASE TERMS


 


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


 


Section 3.1          
VWAP Purchases. Upon the initial satisfaction of all of the conditions set forth in Section 7.2 (the “Commencement”
and the date of initial satisfaction of all of such conditions, the “Commencement Date”) and from time to time
thereafter, subject to the satisfaction of all of the conditions set forth in Section 7.3, the Company shall have the right, but not the
obligation, to direct the Investor, by its timely delivery to the Investor of a VWAP Purchase Notice, in substantially the form attached
hereto as Exhibit D, after 6:00 a.m., New York City time, but prior to 9:00 a.m., New York City time, on a VWAP Purchase Date,
to purchase the applicable VWAP Purchase Share Amount, not to exceed the applicable VWAP Purchase Maximum Amount, at the applicable VWAP
Purchase Price therefor on such VWAP Purchase Date in accordance with this Agreement (each such purchase, a “VWAP Purchase”).
The Company may timely deliver a VWAP Purchase Notice to the Investor as often as every Trading Day, so long as all Shares subject to
all prior VWAP Purchases theretofore required to have been received by the Investor as DWAC Shares under this Agreement have been delivered
to the Investor as DWAC Shares in accordance with this Agreement. The Investor is obligated to accept each VWAP Purchase Notice prepared
and delivered by the Company in accordance with the terms of and subject to the satisfaction of the conditions contained in this Agreement.
If the Company delivers any VWAP Purchase Notice directing the Investor to purchase a VWAP Purchase Share Amount in excess of the applicable
VWAP Purchase Maximum Amount, such VWAP Purchase Notice shall be void ab initio to the extent of the amount by which the VWAP Purchase
Share Amount set forth in such VWAP Purchase Notice exceeds such applicable VWAP Purchase Maximum Amount, and the Investor shall have
no obligation to purchase such excess Shares in respect of such VWAP Purchase Notice; provided, however, that the Investor
shall remain obligated to purchase the applicable VWAP Purchase Maximum Amount in such VWAP Purchase. Notwithstanding anything in this
paragraph to the contrary, in the case where the Sale Price falls below the Threshold Price during a Trading Day, the VWAP Purchase Amount
shall be calculated using (i) the VWAP Purchase Share Percentage of the aggregate shares traded on the Principal Market for such portion
of the VWAP Purchase Date the Sale Price is not below the Threshold Price and (ii) a VWAP Purchase Price calculated using the volume weighted
average price of Common Stock sold during such portion of the VWAP Purchase Date the Sale Price is not below the Threshold Price. Each
VWAP Purchase Notice must be include a VWAP Purchase Share Estimate. Each VWAP Purchase Notice must be accompanied by instructions to
the Company’s Transfer Agent to immediately issue to the Investor an amount of Common Stock equal to the VWAP Purchase Share Estimate,
a good faith estimate by the Company of the number of Shares constituting the applicable VWAP Purchase Share Amount that the Investor
shall have the obligation to buy pursuant to the VWAP Purchase Notice. In no event shall the Investor, pursuant to any VWAP Purchase,
purchase a number of Shares constituting the applicable VWAP Purchase Share Amount that exceeds the VWAP Purchase Share Estimate issued
on the VWAP Purchase Date in connection with such VWAP Purchase Notice; however, the Investor will immediately return to the Company any
amount of Common Stock issued pursuant to the VWAP Purchase Share Estimate that exceeds the number of Shares constituting the applicable
VWAP Purchase Share Amount the Investor actually purchases in connection with such VWAP Purchase. In no event shall the Investor, pursuant
to any VWAP Purchase, purchase a number of Shares that exceeds the VWAP Purchase Share Estimate issued on the VWAP Purchase Date in connection
with such VWAP Purchase Notice provided, however, that the Company shall have the right, upon delivery of written notice to the Investor
at any time, to request that the Investor return all or a portion of such Excess Shares to the Company. At or prior to 5:30 p.m., New
York City time, on the VWAP Purchase Date for each VWAP Purchase, the Investor shall provide to the Company a written confirmation for
such VWAP Purchase (each, a “VWAP Purchase Confirmation”) setting forth the applicable VWAP Purchase Price per
Share to be paid by the Investor in such VWAP Purchase, and the total aggregate VWAP Purchase Price to be paid by the Investor for the
total VWAP Purchase Share Amount purchased by the Investor in such VWAP Purchase. Notwithstanding the foregoing, the Company shall not
deliver any VWAP Purchase Notices to the Investor during the Post-Effective Amendment Period.


 






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Section 3.2          
Settlement. The Shares constituting the applicable VWAP Purchase Share Amount purchased by the Investor in each VWAP
Purchase shall be delivered to the Investor as DWAC Shares not later than 1:00 p.m., New York City time, on the Trading Day immediately
following the applicable VWAP Purchase Date for such VWAP Purchase (the “VWAP Purchase Share Delivery Date”)
(it being acknowledged and agreed that the Company may not deliver any additional VWAP Purchase Notice to the Investor until all such
Shares subject to such VWAP Purchase, and all Shares subject to all prior VWAP Purchase Notices, have been received by the Investor as
DWAC Shares in accordance with this Agreement). For each VWAP Purchase, the Investor shall pay to the Company an amount in cash equal
to the product of (a) the total number of Shares purchased by the Investor in such VWAP Purchase and (b) the applicable VWAP Purchase
Price for such Shares (the “VWAP Purchase Amount”), as full payment for such Shares purchased by the Investor
in such VWAP Purchase, via wire transfer of immediately available funds, not later than 5:00 p.m., New York City time, on the Trading
Day immediately following the applicable VWAP Purchase Share Delivery Date for such VWAP Purchase, provided the Investor shall have timely
received, as DWAC Shares, all of such Shares purchased by the Investor in such VWAP Purchase on such VWAP Purchase Share Delivery Date
in accordance with the first sentence of this Section 3.2, or, if any of such Shares are received by the Investor after 1:00 p.m., New
York City time, then the Company’s receipt of such funds in its designated accounts may occur on the Trading Day next following
the Trading Day on which the Investor shall have received all of such Shares as DWAC Shares, but not later than 5:00 p.m., New York City
time, on such next Trading Day. If the Investor fails to pay the VWAP Purchase Amount when due, the Investor will return the DWAC Shares
to the Company. If the Company or the Transfer Agent shall fail for any reason to deliver to the Investor, as DWAC Shares, any Shares
purchased by the Investor in a VWAP Purchase prior to 10:30 a.m., New York City time, on the Trading Day immediately following the applicable
VWAP Purchase Share Delivery Date for such VWAP Purchase, and if on or after such Trading Day the Investor purchases (in an open market
transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by the Investor of such Shares that the Investor
anticipated receiving from the Company on such VWAP Purchase Share Delivery Date in respect of such VWAP Purchase, then the Company shall,
within one (1) Trading Day after the Investor’s request, either (i) pay cash to the Investor in an amount equal to the Investor’s
total purchase price (including brokerage commissions, if any) for the shares of Common Stock so purchased (the “Cover Price”),
at which point the Company’s obligations to deliver such Shares as DWAC Shares shall terminate, or (ii) promptly honor its obligations
to deliver to the Investor such Shares as DWAC Shares and pay cash to the Investor in an amount equal to the excess (if any) of the Cover
Price over the total purchase price paid by the Investor pursuant to this Agreement for all of the Shares purchased by the Investor in
such VWAP Purchase provided, however, that the Investor agrees to use its commercially reasonable efforts to purchase shares of Common
Stock in respect of the Cover Price only in normal brokerage transactions at the prevailing price per share of Common Stock then available.
The Company shall not issue any fraction of a share of Common Stock to the Investor in connection with any VWAP Purchase effected pursuant
to this Agreement. If the issuance would result in the issuance of a fraction of a share of Common Stock, the Company shall round such
fraction of a share of Common Stock up or down to the nearest whole share. All payments to be made by the Investor pursuant to this Agreement
shall be made by wire transfer of immediately available funds to such account as the Company may from time to time designate by written
notice to the Investor in accordance with the provisions of this Agreement.


 






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Section 3.3          
Compliance with Rules of Principal Market.


 


(a)              
Exchange Cap. The Company shall not issue or sell any shares of Common Stock pursuant to this Agreement, and the
Investor shall not purchase or acquire any shares of Common Stock pursuant to this Agreement, to the extent that after giving effect thereto,
the aggregate number of shares of Common Stock that would be issued pursuant to this Agreement and the transactions contemplated hereby
would exceed 120,000,000 shares of Common Stock (or, if less, 19.99% of the voting power or number of shares of combined Common Stock
and Class V Common Stock of the Company (“Class V Common Stock”) issued and outstanding immediately prior to
the execution of this Agreement), which number of shares shall be reduced, on a share-for-share basis, by the number of shares of Common
Stock issued or issuable pursuant to any transaction or series of transactions that may be aggregated with the transactions contemplated
by this Agreement under applicable rules of the Principal Market (such maximum number of shares, the “Exchange Cap”),
unless the Company’s stockholders have approved the issuance of Common Stock pursuant to this Agreement in excess of the Exchange
Cap in accordance with the applicable rules of the Principal Market. For the avoidance of doubt, the Company may, but shall be under no
obligation to, request its stockholders to approve the issuance of Common Stock pursuant to this Agreement; provided, that if such
stockholder approval is not obtained, the Exchange Cap shall be applicable for all purposes of this Agreement and the transactions contemplated
hereby at all times during the term of this Agreement (except as set forth in Section 3.3(b)).


 


(b)              
At Market Transaction. Notwithstanding Section 3.3(a) above, the Exchange Cap shall not be applicable for any purpose
of this Agreement and the transactions contemplated hereby, solely to the extent that (and only for so long as) the Average Price shall
equal or exceed the Base Price (it being hereby acknowledged and agreed that the Exchange Cap shall be applicable for all purposes of
this Agreement and the transactions contemplated hereby at all other times during the term of this Agreement, unless the stockholder approval
referred to in Section 3.3(a) is obtained). Notwithstanding the foregoing, the Company may not deliver any VWAP Purchase Notice if the
VWAP Purchase effected thereby would result in the Investor owning 19.99% of the voting power or number of shares of issued and outstanding
combined Common Stock and Class V Common Stock, in each case, calculated in accordance with the applicable rules of the Principal Market.
The parties acknowledge and agree that the Minimum Price used to determine the Base Price hereunder represents the lower of (i) the Nasdaq
official closing price of the Common Stock on the Principal Market (as reflected on Nasdaq.com) on the Trading Day immediately prior to
the date of this Agreement and (ii) the average Nasdaq official closing price of the Common Stock on the Principal Market (as reflected
on Nasdaq.com) for the five (5) consecutive Trading Days ending on the Trading Day immediately prior to the date of this Agreement (the
 “Minimum Price”).


 






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


 


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


 


Section 3.5Suspension of Purchase Obligations.
The Investor’s obligations under this Agreement shall be suspended immediately if, on the seventh (7th) Trading Day following the
closing of the Merger, the aggregate market value of the outstanding voting and non-voting common equity (as defined in Securities Act
Rule 405) of the Company, is less than $100 million (calculated by multiplying (x) the price at which the common equity of the Company
closes on the Principal Market on such date by (y) the number of outstanding shares as of such date) as of that date, until such time
as the aggregate market value of the aggregate market value of the outstanding voting and non-voting common equity (as defined in Securities
Act Rule 405) of the Company equals or exceeds $100 million (calculated by multiplying (x) the price at which the Common Stock of the
Company closes on the Principal Market on a particular date by (y) the number of outstanding shares of combined Common Stock and Class
V Common Stock as of such date).


 






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Article
IV

REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE INVESTOR


 


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


 


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


 


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


 


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


 






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


 


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


 


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


 


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


 






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


 


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


 


Section 4.10      
Not an Affiliate. The Investor is not an officer, director or an Affiliate of the Company. During the Investment Period,
the Investor will not acquire for its own account any shares of Common Stock or securities exercisable for or convertible into shares
of Common Stock, other than pursuant to this Agreement; provided, however, that nothing in this Agreement shall prohibit
or be deemed to prohibit the Investor from purchasing, in an open market transaction or otherwise, shares of Common Stock necessary to
make delivery by the Investor in satisfaction of a sale by the Investor of Shares that the Investor anticipated receiving from the Company
in connection with the settlement of a VWAP Purchase if the Company or its transfer agent shall have failed for any reason (other than
a failure of Investor or its Broker-Dealer (as defined below) to set up a DWAC and required instructions) to electronically transfer all
of the Shares subject to such VWAP Purchase to the Investor on the applicable VWAP Purchase Share Delivery Date by crediting the Investor’s
or its designated Broker-Dealer’s account at DTC through its DWAC delivery system in compliance with Section 3.2 of this Agreement.
For the avoidance of doubt, the foregoing restriction does not apply to any affiliate of the Investor, provided that any such purchases
do not cause the Investor to violate any applicable Exchange Act requirement, including Regulation M.


 


Section 4.11      
No Prior Short Sales. At no time prior to the date of this Agreement has the Investor engaged in or effected, in any
manner whatsoever, directly or indirectly, for its own principal account, any (i) “short sale” (as such term is defined in
Rule 200 of Regulation SHO of the Exchange Act) of the Common Stock or (ii) hedging transaction, which establishes a net short position
with respect to the Common Stock that remains in effect as of the date of this Agreement.


 


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


 


Section 4.13      
Resales of Shares. The Investor represents, warrants and covenants that it will resell such Shares only pursuant to
the Registration Statement in which the resale of such Shares is registered under the Securities Act, in a manner described under the
caption “Plan of Distribution” in such Registration Statement, and in a manner in compliance with all applicable U.S. federal
and state securities laws, rules and regulations.


 






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Section 4.14      
Residency. The Investor is a resident of the State of Delaware.


 


Article
V

REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE COMPANY


 


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


 


Section 5.1          
Organization, Good Standing and Power. The Company and each of its subsidiaries that are significant subsidiaries (as
defined in Rule 1-02 of Regulation S-X) (“Subsidiaries”) are duly organized, validly existing as an entity and
in good standing under the laws of their respective jurisdictions of organization. The Company and each of its Subsidiaries are duly licensed
or qualified as a foreign entity for transaction of business and in good standing under the laws of each other jurisdiction in which their
respective ownership or lease of property or the conduct of their respective businesses requires such license or qualification, and have
all entity power and authority necessary to own or hold their respective properties and to conduct their respective businesses as described
in the Commission Documents, except where the failure to be so qualified or in good standing or have such power or authority would not,
individually or in the aggregate, have a material adverse effect or would reasonably be expected to have a material adverse effect on
or affecting the assets, business, operations, earnings, properties, condition (financial or otherwise), prospects, stockholders’
equity or results of operations of the Company and the Subsidiaries taken as a whole, or prevent or materially interfere with consummation
of the transactions contemplated hereby (a “Material Adverse Effect”).


 


Section 5.2          
Subsidiaries. As of the Company’s filing of each annual report on Form 10-K, the subsidiaries set forth on Exhibit
21.1 of such filing are the Company’s only significant subsidiaries (as such term is defined in Rule 1-02 of Regulation S-X
promulgated by the Commission). Except as set forth in the Commission Documents, the Company owns, directly or indirectly, all of the
equity interests of the Subsidiaries free and clear of any lien, charge, security interest, encumbrance, right of first refusal or other
restriction, and all the equity interests of the Subsidiaries are validly issued and are fully paid, nonassessable and free of preemptive
and similar rights. Each Subsidiary of the Company has been duly formed or organized, is validly existing under the applicable laws of
its jurisdiction of incorporation or organization and has the organizational power and authority to own, lease and operate its assets
and properties and to conduct its business as it is now being conducted. Each of the Company’s Subsidiaries is duly licensed or
qualified and in good standing (or equivalent status as applicable) as a foreign corporation (or other entity, if applicable) in each
jurisdiction in which the assets owned or leased by it or the character of its activities require it to be licensed or qualified or in
good standing (or equivalent status as applicable), except where the failure to be so licensed or qualified, individually or in the aggregate,
has not had and would not be expected to have a Material Adverse Effect.


 






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Section 5.3          
Authorization, Enforcement. The Company has the requisite corporate power and authority to enter into and perform its
obligations under each of the Transaction Documents to which it is a party and to issue the Shares in accordance with the terms hereof
and thereof. Except for approvals of the Company’s Board of Directors or a committee thereof as may be required in connection with
any issuance and sale of Shares to the Investor hereunder (which approvals shall be obtained prior to the delivery of any VWAP Purchase
Notice), the execution, delivery and performance by the Company of each of the Transaction Documents to which it is a party and the consummation
by it of the transactions contemplated hereby and thereby have been duly and validly authorized by all necessary corporate action, and
no further consent or authorization of the Company, its Board of Directors or its stockholders is required. Each of the Transaction Documents
to which the Company is a party has been duly executed and delivered by the Company and constitutes a valid and binding obligation of
the Company enforceable against the Company in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium, liquidation, conservatorship, receivership or similar laws relating to, or affecting generally
the enforcement of, creditor’s rights and remedies or by other equitable principles of general application (including any limitation
of equitable remedies).


 


Section 5.4          
Capitalization. The authorized capital stock of the Company and the shares thereof issued and outstanding were
as set forth in the Commission Documents as of the dates reflected therein. All of the outstanding shares of Common Stock have been duly
authorized and validly issued and are fully paid and non-assessable. Except as set forth in the Commission Documents, this Agreement and
the Registration Rights Agreement, there are no agreements or arrangements under which the Company is obligated to register the sale of
any securities under the Securities Act. Except as set forth in the Commission Documents, no shares of Common Stock are entitled to preemptive
rights and there are no outstanding debt securities and no contracts, commitments, understandings, or arrangements by which the Company
is or may become bound to issue additional shares of the capital stock of the Company or options, warrants, scrip, rights to subscribe
to, calls or commitments of any character whatsoever relating to, or securities or rights convertible into or exchangeable for, any shares
of capital stock of the Company other than those issued or granted in the ordinary course of business pursuant to the Company’s
equity incentive and/or compensatory plans or arrangements. Except for customary transfer restrictions contained in agreements entered
into by the Company to sell restricted securities or as set forth in the Commission Documents, the Company is not a party to, and it has
no Knowledge of, any agreement restricting the voting or transfer of any shares of the capital stock of the Company. Except as set forth
in the Commission Documents, there are no securities or instruments containing anti-dilution or similar provisions that will be triggered
by this Agreement or any of the other Transaction Documents or the consummation of the transactions described herein or therein. The Company
has filed with the Commission true and correct copies of the Company’s Second Amended and Restated Charter in the form proposed
to be in effect on the Closing Date (the “Charter”), and the Company’s Amended and Restated Bylaws in
the form proposed to be in effect on the Closing Date (the “By laws”).


 


Section 5.5          
Issuance of Shares. The Shares to be issued under this Agreement have been, or will be, prior to the delivery to the
Investor hereunder of such VWAP Purchase Notice, duly and validly authorized by all necessary corporate action on the part of the Company.
The Shares, if and when issued and sold against payment therefor in accordance with this Agreement, shall be validly issued and outstanding,
fully paid and non-assessable and free from all liens, charges, taxes, security interests, encumbrances, rights of first refusal, preemptive
or similar rights and other encumbrances with respect to the issue thereof, and the Investor shall be entitled to all rights accorded
to a holder of Common Stock. At or prior to Commencement, the Company shall have duly authorized and reserved a number of shares of Common
Stock equal to the Exchange Cap for issuance and sale as Shares to the Investor pursuant to VWAP Purchases that may be effected by the
Company, in its sole discretion, from time to time from and after the Commencement Date, pursuant to this Agreement.


 






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Section 5.6          
No Conflicts. The execution, delivery and performance by the Company of each of the Transaction Documents to which it
is a party and the consummation by the Company of the transactions contemplated hereby and thereby do not and shall not (i) result in
a violation of any provision of the Company’s Charter or Bylaws, (ii) conflict with or constitute a material default (or an event
which, with notice or lapse of time or both, would become a material default) under, or give rise to any rights of termination, amendment,
acceleration or cancellation of, any material agreement, mortgage, deed of trust, indenture, note, bond, license, lease agreement, instrument
or obligation to which the Company or any of its Subsidiaries is a party or is bound, (iii) create or impose a lien, charge or encumbrance
on any property or assets of the Company or any of its Subsidiaries under any agreement or any commitment to which the Company or any
of its Subsidiaries is a party or by which the Company or any of its Subsidiaries is bound or to which any of their respective properties
or assets is subject, or (iv) result in a violation of any federal, state, local or foreign statute, rule, regulation, order, judgment
or decree applicable to the Company or any of its Subsidiaries or by which any property or asset of the Company or any of its Subsidiaries
are bound or affected (including federal and state securities laws and regulations and the rules and regulations of the Principal Market
or applicable Principal Market), except, in the case of clauses (ii) and (iii), for such conflicts, defaults, terminations, amendments,
acceleration, cancellations, liens, charges, encumbrances and violations as would not, individually or in the aggregate, reasonably be
expected to result in a Material Adverse Effect or that have been waived. Except as specifically contemplated by this Agreement or the
Registration Rights Agreement and as required under the Securities Act, any applicable state securities laws and applicable rules of the
Principal Market, the Company is not required under any federal, state or local rule or regulation to obtain any consent, authorization
or order of, or make any filing or registration with, any court or governmental agency (including, without limitation, the Principal Market)
in order for it to execute, deliver or perform any of its obligations under the Transaction Documents to which it is a party, or to issue
the Shares to the Investor in accordance with the terms hereof and thereof (other than such consents, authorizations, orders, filings
or registrations as have been obtained or made prior to the Closing Date); provided, however, that, for purposes of the
representation made in this sentence, the Company is assuming and relying upon the accuracy of the representations and warranties of the
Investor in this Agreement and the compliance by it with its covenants and agreements contained in this Agreement and the Registration
Rights Agreement.


 


Section 5.7          
Commission Documents, Financial Statements; Disclosure Controls and Procedures; Internal Controls Over Financial Reporting;
Accountants.


 


(a)              
As of the date of this Agreement, no Subsidiary of the Company is required to file or furnish any report, schedule, registration,
form, statement, information or other document with the Commission. As of its filing date (or, if amended or superseded by a filing prior
to the Closing Date, on the date of such amended or superseded filing), each Commission Document filed with or furnished to the Commission
prior to the Closing Date complied in all material respects with the requirements of the Securities Act or the Exchange Act, as applicable,
and other federal, state and local laws, rules and regulations applicable to it, and, as of its filing date (or, if amended or superseded
by a filing prior to the Closing Date, on the date of such amended or superseded filing). Each Registration Statement, on the date it
is filed with the Commission, on the date it is declared effective by the Commission and on each VWAP Purchase Date shall comply in all
material respects with the requirements of the Securities Act (including, without limitation, Rule 415 under the Securities Act) and shall
not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order
to make the statements therein not misleading, except that this representation and warranty shall not apply to statements in or omissions
from such Registration Statement made in reliance upon and in conformity with information relating to the Investor furnished to the Company
in writing by or on behalf of the Investor expressly for use therein. The Prospectus and each Prospectus Supplement required to be filed
pursuant to this Agreement or the Registration Rights Agreement after the Closing Date, when taken together, on its date and on each VWAP
Purchase Date shall comply in all material respects with the requirements of the Securities Act (including, without limitation, Rule 424(b)
under the Securities Act) and shall not contain any untrue statement of a material fact or omit to state a material fact required to be
stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not
misleading, except that this representation and warranty shall not apply to statements in or omissions from the Prospectus or any Prospectus
Supplement made in reliance upon and in conformity with information relating to the Investor furnished to the Company in writing by or
on behalf of the Investor expressly for use therein. The statistical, demographic and market-related data included in the Registration
Statement and Prospectus are based on or derived from sources that the Company believes to be reliable and accurate or represent the Company’s
good faith estimates that are made on the basis of data derived from such sources. Each Commission Document (other than the Initial Registration
Statement or any New Registration Statement, or the Prospectus included therein or any Prospectus Supplement thereto) to be filed with
or furnished to the Commission after the Closing Date and incorporated by reference in the Initial Registration Statement or any New Registration
Statement, or the Prospectus included therein or any Prospectus Supplement thereto required to be filed pursuant to this Agreement or
the Registration Rights Agreement (including, without limitation, the Current Report), when such document is filed with or furnished to
the Commission and, if applicable, when such document becomes effective, as the case may be, shall comply in all material respects with
the requirements of the Securities Act or the Exchange Act, as applicable, and other federal, state and local laws, rules and regulations
applicable to it. The Company has delivered or made available to the Investor via EDGAR or otherwise true and complete copies of all comment
letters and substantive correspondence received by the Company from the Commission relating to the Commission Documents filed with or
furnished to the Commission as of the Closing Date, together with all written responses of the Company thereto in the form such responses
were filed via EDGAR. There are no outstanding or unresolved comments or undertakings in such comment letters received by the Company
from the Commission. The Commission has not issued any stop order or other order suspending the effectiveness of any registration statement
filed by the Company under the Securities Act or the Exchange Act.


 






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(b)              
The consolidated financial statements of the Company included or incorporated by reference in the Commission Documents, together
with the related notes and schedules, present fairly, in all material respects, the consolidated financial position of the Company and
its then consolidated subsidiaries as of the dates indicated, and the consolidated results of operations, cash flows and changes in stockholders’
equity of the Company and its then consolidated subsidiaries for the periods specified and have been prepared in compliance with the published
requirements of the Securities Act and the Exchange Act, as applicable, and in conformity with generally accepted accounting principles
in the United States (“GAAP”) applied on a consistent basis. The summary consolidated financial data included
or incorporated by reference in the Commission Documents present fairly the information shown therein and have been compiled on a basis
consistent with that of the financial statements included or incorporated by reference in the Commission Documents, as of and at the dates
indicated. The pro forma condensed combined financial statements and the pro forma combined financial statements and any other pro forma
financial statements or data included or incorporated by reference in the Commission Documents comply with the requirements of Regulation
S-X of the Securities Act, including, without limitation, Article 11 thereof, and the assumptions used in the preparation of such pro
forma financial statements and data are reasonable, the pro forma adjustments used therein are appropriate to give effect to the circumstances
referred to therein and the pro forma adjustments have been properly applied to the historical amounts in the compilation of those statements
and data. There are no financial statements (historical or pro forma) that are required to be included or incorporated by reference in
the Commission Documents that are not included or incorporated by reference as required. The Company and the Subsidiaries do not have
any material liabilities or obligations, direct or contingent (including any off-balance sheet obligations or any “variable interest
entities” as that term is used in Accounting Standards Codification Paragraph 810-10-25-20), not described in Commission Documents
which are required to be described in the Commission Documents. All disclosures contained or incorporated by reference in the Commission
Documents, if any, regarding “non-GAAP financial measures” (as such term is defined by the rules and regulations of the Commission)
comply in all material respects with Regulation G of the Exchange Act and Item 10 of Regulation S-K under the Securities Act, to the extent
applicable. The interactive data in eXtensible Business Reporting Language included in the Commission Documents fairly presents the information
called for in all material respects and has been prepared in accordance with the Commission’s rules and guidelines applicable thereto.


 


(c)              
Deloitte & Touche LLP, (“Deloitte”) whose report on the consolidated financial statements of MSP
Recovery, LLC, as of December 31, 2021 and 2020, and for each of the two years in the period ended December 31, 2021 included in the Company’s
registration statement on Form S-4 (File No. 333-260969), are and, during the periods covered by their report, were an independent public
accounting firm within the meaning of the Securities Act and the Public Company Accounting Oversight Board (United States). To the Company’s
knowledge, Deloitte is not in violation of the auditor independence requirements of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley
Act”) with respect to the Company.


 


(d)              
Marcum LLP, (“Marcum”) whose report on the consolidated financial statements of the Company as of December
31, 2021 and for the period from December 23, 2019 (inception) through December 31, 2021 included in the Company’s registration
statement on Form S-4 (No. 333-260969), are and, during the periods covered by their report, were an independent public accounting firm
within the meaning of the Securities Act and the Public Company Accounting Oversight Board (United States). To the Company’s knowledge,
Marcum is not in violation of the auditor independence requirements of the Sarbanes-Oxley Act with respect to the Company.


 






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(e)              
Except as disclosed in the Commission Documents, there is and has been no failure on the part of the Company or any of the Company’s
directors or officers, in their capacities as such, to comply in all material respects with any applicable provisions of the Sarbanes-Oxley
Act and the rules and regulations promulgated thereunder. Each of the principal executive officer and the principal financial officer
of the Company (or each former principal executive officer of the Company and each former principal financial officer of the Company as
applicable) has made all certifications required by Sections 302 and 906 of the Sarbanes-Oxley Act with respect to all reports, schedules,
forms, statements and other documents required to be filed by it or furnished by it to the Commission. For purposes of the preceding sentence,
 “principal executive officer” and “principal financial officer” shall have the meanings given to such terms in
the Sarbanes-Oxley Act. The Company and the Subsidiaries will maintain and keep accurate books and records reflecting their assets and
the Company will maintain internal accounting controls in a manner designed to provide reasonable assurance regarding the reliability
of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles and including those policies and procedures that pertain to the maintenance of records that in reasonable detail accurately
and fairly reflect the transactions and dispositions of the assets of the Company, (ii) provide reasonable assurance that transactions
are recorded as necessary to permit the preparation of the Company’s consolidated financial statements in accordance with generally
accepted accounting principles, (iii) that receipts and expenditures of the Company are being made only in accordance with management’s
and the Company’s directors’ authorization, and (iv) provide reasonable assurance regarding prevention or timely detection
of unauthorized acquisition, use or disposition of the Company’s assets that could have a material effect on its financial statements.
The Company will maintain such controls and other procedures, including, without limitation, those required by Sections 302 and 906 of
the Sarbanes-Oxley Act, and the applicable regulations thereunder that are designed to ensure that information required to be disclosed
by the Company in the reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported, within
the time periods specified in the Commission’s rules and forms, including, without limitation, controls and procedures designed
to ensure that information required to be disclosed by the Company in the reports that it files or submits under the Exchange Act is accumulated
and communicated to the Company’s management, including its principal executive officer and principal financial officer, or persons
performing similar functions, as appropriate to allow timely decisions regarding required disclosure and to ensure that material information
relating to the Company or the Subsidiaries is made known to them by others within those entities, particularly during the period in which
such periodic reports are being prepared.


 


Section 5.8          
No Material Adverse Effect; Absence of Certain Changes. Subsequent to the respective dates as of which information is
given in the Commission Documents (including any document deemed incorporated by reference therein), there has not been (i) any Material
Adverse Effect or the occurrence of any development that the Company reasonably expects will result in a Material Adverse Effect, (ii)
any transaction which is material to the Company and the Subsidiaries taken as a whole, (iii) any obligation or liability, direct or contingent
(including any off-balance sheet obligations), incurred by the Company or any Subsidiary, which is material to the Company and the Subsidiaries
taken as a whole, (iv) any material change in the capital stock (other than (A) the grant of additional awards under the Company’s
existing equity incentive plans, (B) changes in the number of outstanding Common Stock of the Company due to the issuance of shares upon
the exercise or conversion of securities exercisable for, or convertible into, Common Stock outstanding on the date hereof, (C) as described
in a proxy statement filed on Schedule 14A or a Registration Statement on Form S-4, or (D) otherwise publicly announced on a Form 8-K
or Company press release) or outstanding long-term indebtedness of the Company or any of its Subsidiaries, taken as a whole, or (v) any
dividend or distribution of any kind declared, paid or made on the capital stock of the Company or any Subsidiary (other than dividends
or distributions paid solely to the Company or another Subsidiary), other than in each of clauses (i) through (iv) above in the ordinary
course of business or as otherwise disclosed in the Commission Documents (including any document deemed incorporated by reference therein).


 






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Section 5.9          
No Material Defaults. Neither the Company nor any of its Subsidiaries has defaulted on any installment on indebtedness
for borrowed money or on any rental on one or more long-term leases, which defaults, individually or in the aggregate, would have a Material
Adverse Effect. The Company has not filed a report pursuant to Section 13(a) or 15(d) of the Exchange Act indicating that it (i) has failed
to pay any dividend or sinking fund installment on preferred shares or (ii) has defaulted on any installment on indebtedness for borrowed
money or on any rental on one or more long-term leases, which defaults, individually or in the aggregate, would have a Material Adverse
Effect. Neither the Company nor any of its Subsidiaries is (i) in violation of its charter or by-laws or similar organizational documents;
(ii) in default, and no event has occurred that, with notice or lapse of time or both, would constitute such a default, in the due performance
or observance of any term, covenant or condition contained in any indenture, mortgage, deed of trust, loan agreement or other agreement
or instrument to which the Company or any of its Subsidiaries is a party or by which the Company or any of its Subsidiaries is bound or
to which any of the property or assets of the Company or any of its Subsidiaries are subject; or (iii) in violation of any law or statute
or any judgment, order, rule or regulation of any Governmental Authority, except, in the case of each of clauses (ii) and (iii) above,
for any such violation or default that would not, individually or in the aggregate, have a Material Adverse Effect.


 


Section 5.10      
No Preferential Rights. Except as set forth in the Commission Documents or provided hereunder, (i) no Person, has the
right, contractual or otherwise, to cause the Company to issue or sell to such Person any Common Stock or shares of any other capital
stock or other securities of the Company, (ii) no Person has any preemptive rights, resale rights, rights of first refusal, rights of
co-sale, or any other rights (whether pursuant to a “poison pill” provision or otherwise) to purchase any Common Stock or
shares of any other capital stock or other securities of the Company, (iii) no Person has the right to act as an underwriter or as a financial
advisor to the Company in connection with the offer and sale of the Common Stock offered hereunder, and (iv) no Person has the right,
contractual or otherwise, to require the Company to register under the Securities Act any Common Stock or shares of any other capital
stock or other securities of the Company, or to include any such shares or other securities in the Registration Statement or the offering
contemplated thereby, whether as a result of the filing or effectiveness of the Registration Statement or the sale of the Shares as contemplated
thereby or otherwise.


 






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Section 5.11      
Material Contracts. Neither the Company nor any of its Subsidiaries is in material breach of or default in any respect
under the terms of any Material Contract and, to the Knowledge of the Company, as of the date hereof, no other party to any Material Contract
is in material breach of or default under the terms of any Company Material Contract. Each agreement between the Company and a third party
is in full force and effect and is a valid and binding obligation of the Company or the Subsidiary of the Company that is party thereto
and, to the Knowledge of the Company, is a valid and binding obligation of each other party thereto. The Company has not received any
written notice of the intention of any other party to a Material Contract to terminate for default, convenience or otherwise, or not renew,
any Material Contract.


 


Section 5.12      
Solvency. The Company has not taken any steps, and does not currently expect to take any steps, to seek protection pursuant
to Title 11 of the United States Code or any similar federal or state bankruptcy law or law for the relief of debtors, nor does the Company
have any Knowledge that its creditors intend to initiate involuntary bankruptcy, insolvency, reorganization or liquidation proceedings
or other proceedings for relief under Title 11 of the United States Code or any other federal or state bankruptcy law or any law for the
relief of debtors. The Company is financially solvent and is generally able to pay its debts as they become due. For the purposes of this
Agreement, “Indebtedness” shall mean (a) any liabilities for borrowed money or amounts owed in excess of $100,000 (other than
trade accounts payable incurred in the ordinary course of business), (b) all guaranties, endorsements, indemnities and other contingent
obligations in respect of Indebtedness of others in excess of $100,000, whether or not the same are or should be reflected in the Company’s
balance sheet (or the notes thereto), except guaranties by endorsement of negotiable instruments for deposit or collection or similar
transactions in the ordinary course of business; and (c) the present value of any lease payments in excess of $100,000 due under leases
required to be capitalized in accordance with GAAP. There is no existing or continuing default or event of default in respect of any Indebtedness
of the Company or any of its Subsidiaries.


 


Section 5.13      
Real Property; Intellectual Property.


 


(a)              
Except as set forth in the Commission Documents, the Company and its Subsidiaries have good and marketable title in fee simple
to all items of real property owned by them, good and valid title to all personal property described in the Commission Documents as being
owned by them that are material to their businesses, in each case free and clear of all liens, encumbrances and claims, except those matters
that (i) do not materially interfere with the use made and proposed to be made of such property by the Company and any of its Subsidiaries
or (ii) would not, individually or in the aggregate, have a Material Adverse Effect. Any real or personal property described in the Commission
Documents as being leased by the Company and any of its Subsidiaries is held by them under valid, existing and enforceable leases, except
those that (A) do not materially interfere with the use made or proposed to be made of such property by the Company or any of its Subsidiaries
or (B) would not be reasonably expected, individually or in the aggregate, to have a Material Adverse Effect. Each of the properties of
the Company and its Subsidiaries complies with all applicable codes, laws and regulations (including, without limitation, building and
zoning codes, laws and regulations and laws relating to access to such properties), except if and to the extent disclosed in the Commission
Documents or except for such failures to comply that would not, individually or in the aggregate, reasonably be expected to interfere
in any material respect with the use made and proposed to be made of such property by the Company and its Subsidiaries or otherwise have
a Material Adverse Effect. None of the Company or its subsidiaries has received from any Governmental Authorities any notice of any condemnation
of, or zoning change affecting, the properties of the Company and its Subsidiaries, and the Company knows of no such condemnation or zoning
change which is threatened, except for such that would not reasonably be expected to interfere in any material respect with the use made
and proposed to be made of such property by the Company and its Subsidiaries or otherwise have a Material Adverse Effect, individually
or in the aggregate.






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(b)              
Except as disclosed in the Commission Documents, the Company and its Subsidiaries own, possess, license or have other rights to
use all foreign and domestic patents, patent applications, trade and service marks, trade and service mark registrations, trade names,
copyrights, licenses, inventions, trade secrets, technology, Internet domain names, know-how and other intellectual property (collectively,
the “Intellectual Property”), necessary for the conduct of their respective businesses as now conducted except
to the extent that the failure to own, possess, license or otherwise hold adequate rights to use such Intellectual Property would not,
individually or in the aggregate, have a Material Adverse Effect. Except as disclosed in the Commission Documents (i) there are no rights
of third parties to any such Intellectual Property owned by the Company and its Subsidiaries; (ii) to the Company’s knowledge, there
is no infringement by third parties of any such Intellectual Property; (iii) there is no pending or, to the Company’s knowledge,
threatened action, suit, proceeding or claim by others challenging the Company’s and its Subsidiaries’ rights in or to any
such Intellectual Property, and the Company is unaware of any facts which could form a reasonable basis for any such action, suit, proceeding
or claim; (iv) there is no pending or, to the Company’s knowledge, threatened action, suit, proceeding or claim by others challenging
the validity or scope of any such Intellectual Property; (v) there is no pending or, to the Company’s knowledge, threatened action,
suit, proceeding or claim by others that the Company and its Subsidiaries infringe or otherwise violate any patent, trademark, copyright,
trade secret or other proprietary rights of others; (vi) to the Company’s knowledge, there is no third-party U.S. patent or published
U.S. patent application which contains claims for which an Interference Proceeding (as defined in 35 U.S.C. § 135) has been commenced
against any patent or patent application described in the Commission Documents as being owned by or licensed to the Company; and (vii)
the Company and its Subsidiaries have complied with the terms of each agreement pursuant to which Intellectual Property is currently licensed
to the Company or such Subsidiary, and all such agreements are in full force and effect, except, in the case of any of clauses (i)-(vii)
above, for any such rights infringement by third parties or any such pending or threatened suit, action, proceeding or claim as would
not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect. The Company and its Subsidiaries
have taken commercially reasonable efforts in accordance with normal industry practice to maintain the confidentiality of all material
trade secrets and other material confidential information of the Company and its Subsidiaries and any confidential information owned by
any Person to whom the Company or any of its Subsidiaries has a written confidentiality obligation.


 


Section 5.14      
Actions Pending. Except as disclosed in the Commission Documents, there are no actions, suits or proceedings by or before
any Governmental Authority pending, nor, to the Company’s knowledge, any audits or investigations by or before any Governmental
Authority to which the Company or a Subsidiary is a party or to which any property of the Company or any of its Subsidiaries is the subject
that, individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect and, to the Company’s knowledge,
no such actions, suits, proceedings, audits or investigations are threatened or contemplated by any Governmental Authority or threatened
by others; and (i) there are no current or pending audits or investigations, actions, suits or proceedings by or before any Governmental
Authority that are required under the Securities Act to be described in the Commission Documents that are not so described; and (ii) there
are no contracts or other documents that are required under the Securities Act to be filed as exhibits to the Commission Documents that
are not so filed.


 






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Section 5.15      
Compliance with Law. The Company and each of its Subsidiaries are in compliance with all applicable laws, regulations
and statutes (including all Environmental Laws and regulations, which are the subject of Section 5.22) in the jurisdictions in which it
carries on business, except where failure to be so in compliance would not reasonably be expected to result in a Material Adverse Effect;
the Company has not received a notice of non-compliance, nor knows of, nor has reasonable grounds to know of, any facts that could give
rise to a notice of non-compliance with any such laws, regulations and statutes, and is not aware of any pending change or contemplated
change to any applicable law or regulation or governmental position; in each case that would reasonably be expected to materially adversely
affect the business of the Company or the business or legal environment under which the Company operates.


 


Section 5.16      
Certain Fees. Except as disclosed to the Investors, neither the Company nor any of its Subsidiaries has incurred any
liability for any finder’s fees, brokerage commissions or similar payments in connection with the transactions herein contemplated.


 


Section 5.17      
Disclosure. The Company confirms that neither it nor any other Person acting on its behalf has provided the Investor
or any of its agents, advisors or counsel with any information that constitutes or could reasonably be expected to constitute material,
nonpublic information concerning the Company or any of its Subsidiaries, other than the existence of the transactions contemplated by
the Transaction Documents. The Company understands and confirms that the Investor will rely on the foregoing representations in effecting
resales of Shares under the Registration Statement.


 


Section 5.18      
Broker/Dealer Relationships. Neither the Company nor any of the Subsidiaries (i) is required to register as a “broker”
or “dealer” in accordance with the provisions of the Exchange Act or (ii) directly or indirectly through one or more intermediaries,
controls or is a “person associated with a member” or “associated person of a member” (within the meaning set
forth in the FINRA Manual).


 


Section 5.19      
Disclosure Controls. The Company and each of its Subsidiaries maintain systems of internal accounting controls sufficient
to provide reasonable assurance that (i) transactions are executed in accordance with management’s general or specific authorizations;
(ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting
principles and to maintain asset accountability; (iii) access to assets is permitted only in accordance with management’s general
or specific authorization; and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals
and appropriate action is taken with respect to any differences. The Company’s internal control over financial reporting is effective
and the Company is not aware of any material weaknesses in its internal control over financial reporting (other than as set forth in the
Commission Documents). Since the date of the latest audited financial statements of the Company included in the Commission Documents,
there has been no change in the Company’s internal control over financial reporting that has materially and adversely affected,
or is reasonably likely to materially and adversely affect, the Company’s internal control over financial reporting (other than
as set forth in the Commission Documents). The Company has established disclosure controls and procedures (as defined in Exchange Act
Rules 13a-15 and 15d-15) for the Company and designed such disclosure controls and procedures to ensure that material information relating
to the Company and each of its Subsidiaries is made known to the certifying officers by others within those entities, particularly during
the period in which the Company’s Annual Report on Form 10-K or Quarterly Report on Form 10-Q, as the case may be, is being prepared.
The Company’s certifying officers have evaluated the effectiveness of the Company’s disclosure controls and procedures as
of a date within 90 days prior to the filing date of the Form 10-K for the fiscal year most recently ended (such date, the “Evaluation
Date”). The Company presented in its Form 10-K for the fiscal year most recently ended the conclusions of the certifying
officers about the effectiveness of the disclosure controls and procedures based on their evaluations as of the Evaluation Date and the
disclosure controls and procedures are effective. Since the Evaluation Date, except as disclosed in Commission Documents, there have been
no significant changes in the Company’s internal controls (as such term is defined in Item 307(b) of Regulation S-K under the Securities
Act) or, to the Company’s Knowledge, in other factors that could significantly affect the Company’s internal controls.


 






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Section 5.20      
Permits. Except as disclosed in the Commission Documents, the Company and its Subsidiaries have made all filings, applications
and submissions required by, possesses and is operating in compliance with, all approvals, licenses, certificates, certifications, clearances,
consents, grants, exemptions, marks, notifications, orders, permits and other authorizations issued by, the appropriate federal, state
or foreign Governmental Authority necessary for the ownership or lease of their respective properties or to conduct its businesses as
described in the Commission Documents (collectively, “Permits”), except for such Permits the failure of which
to possess, obtain or make the same would not reasonably be expected to have a Material Adverse Effect; the Company and its Subsidiaries
are in compliance with the terms and conditions of all such Permits, except where the failure to be in compliance would not have a Material
Adverse Effect; all of the Permits are valid and in full force and effect, except where any invalidity, individually or in the aggregate,
would not be reasonably expected to have a Material Adverse Effect; and neither the Company nor any of its Subsidiaries has received any
written notice relating to the limitation, revocation, cancellation, suspension, modification or non-renewal of any such Permit which,
singly or in the aggregate, if the subject of an unfavorable decision, ruling or finding, would reasonably be expected to have a Material
Adverse Effect, or has any reason to believe that any such license, certificate, permit or authorization will not be renewed in the ordinary
course except where the failure to obtain any such renewal would not, individually or in the aggregate, have a Material Adverse Effect.
This Section 5.20 does not relate to environmental matters, such items being the subject of Section 5.21.


 


Section 5.21      
Environmental Compliance. Except as set forth in the Commission Documents, the Company and its Subsidiaries (i) are
in compliance with any and all applicable federal, state, local and foreign laws, rules, regulations, decisions and orders relating to
the protection of human health and safety, the environment or hazardous or toxic substances or wastes, pollutants or contaminants (collectively,
 “Environmental Laws”); (ii) have received and are in compliance with all permits, licenses or other approvals
required of them under applicable Environmental Laws to conduct their respective businesses as described in the Commission Documents;
and (iii) have not received notice of any actual or potential liability for the investigation or remediation of any disposal or release
of hazardous or toxic substances or wastes, pollutants or contaminants, except, in the case of any of clauses (i), (ii) or (iii) above,
for any such failure to comply or failure to receive required permits, licenses, other approvals or liability as would not, individually
or in the aggregate, reasonably be expected to have a Material Adverse Effect.


 


Section 5.22      
No Improper Practices. (i) Neither the Company nor the Subsidiaries, nor any director, officer, or employee of the Company
or any Subsidiary nor, to the Company’s Knowledge, any agent, affiliate or other person acting on behalf of the Company or any Subsidiary
has, in the past five years, made any unlawful contributions to any candidate for any political office (or failed fully to disclose any
contribution in violation of applicable law) or made any contribution or other payment to any official of, or candidate for, any federal,
state, municipal, or foreign office or other person charged with similar public or quasi-public duty in violation of any applicable law
or of the character required to be disclosed in the Commission Documents; (ii) no relationship, direct or indirect, exists between or
among the Company or any Subsidiary or any affiliate of any of them, on the one hand, and the directors, officers and stockholders of
the Company or any Subsidiary, on the other hand, that is required by the Securities Act to be described in the Commission Documents that
is not so described; (iii) no relationship, direct or indirect, exists between or among the Company or the Subsidiaries or any affiliate
of them, on the one hand, and the directors, officers, or stockholders of the Company or any Subsidiary, on the other hand, that is required
by the rules of FINRA to be described in the Commission Documents that is not so described; (iv) except as described in the Commission
Documents, there are no material outstanding loans or advances or material guarantees of indebtedness by the Company or any Subsidiary
to or for the benefit of any of their respective officers or directors or any of the members of the families of any of them; and (v) the
Company has not offered, or caused any placement agent to offer, Common Stock to any person with the intent to influence unlawfully (A)
a customer or supplier of the Company or the Subsidiaries to alter the customer’s or supplier’s level or type of business
with the Company or any Subsidiary or (B) a trade journalist or publication to write or publish favorable information about the Company
or the Subsidiaries or any of their respective products or services, and, (vi) neither the Company nor the Subsidiaries nor any director,
officer or employee of the Company nor, to the Company’s Knowledge, any agent, affiliate or other person acting on behalf of the
Company or any Subsidiary has (A) violated or is in violation of any applicable provision of the U.S. Foreign Corrupt Practices Act of
1977, as amended, or any other applicable anti-bribery or anti-corruption law (collectively, “Anti-Corruption Laws”),
(B) promised, offered, provided, attempted to provide or authorized the provision of anything of value, directly or indirectly, to any
person for the purpose of obtaining or retaining business, influencing any act or decision of the recipient, or securing any improper
advantage; or (C) made any payment of funds of the Company or any Subsidiary or received or retained any funds in violation of any Anti-Corruption
Laws.


 






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Section 5.23      
AML Compliance. The operations of the Company and its Subsidiaries are and have been conducted at all times in compliance
with applicable financial record keeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as
amended, the money laundering statutes of all jurisdictions to which the Company or its Subsidiaries are subject, the rules and regulations
thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any Governmental Authority
(collectively, the “Money Laundering Laws”); and no action, suit or proceeding by or before any Governmental
Authority involving the Company or any of its Subsidiaries with respect to the Money Laundering Laws is pending or, to the knowledge of
the Company, threatened.


 


Section 5.24      
Transactions With Affiliates. No relationship, direct or indirect, exists between or among the Company or any of its
Subsidiaries on the one hand, and the directors, officers, trustees, managers, stockholders, partners, customers or suppliers of the Company
or any of the Subsidiaries on the other hand, which would be required by the Securities Act or the Exchange Act to be disclosed in the
Commission Documents, which is not so disclosed.


 


Section 5.25      
Labor Disputes. None of the Company nor any of its Subsidiaries is bound by or subject to any collective bargaining
or similar agreement with any labor union, and, to the Knowledge of the Company, none of the employees, representatives or agents of the
Company or any of its Subsidiaries is represented by any labor union. The Company and its Subsidiaries have complied with all employment
laws applicable to employees of the Company and its Subsidiaries, except where non-compliance with any such employment laws would not
have a Material Adverse Effect. No labor disturbance by or dispute with employees of the Company or any of its Subsidiaries exists or,
to the knowledge of the Company, is threatened which would result in a Material Adverse Effect.


 


Section 5.26      
Use of Proceeds. The proceeds from the sale of the Shares by the Company to the Investor shall be used by the Company
in the manner as will be set forth in the Prospectus included in any Registration Statement (and any post-effective amendment thereto)
and any Prospectus Supplement thereto filed pursuant to the Registration Rights Agreement.


 


Section 5.27      
Investment Company Act Status. The Company is not, and as a result of the consummation of the transactions contemplated
by the Transaction Documents and the application of the proceeds from the sale of the Shares as will be set forth in the Prospectus included
in any Registration Statement (and any post-effective amendment thereto) and any Prospectus Supplement thereto filed pursuant to the Registration
Rights Agreement the Company will not be an “investment company” within the meaning of the Investment Company Act of 1940,
as amended.


 


Section 5.28      
Margin Rules. Neither the issuance, sale and delivery of the Shares nor the application of the proceeds thereof by the
Company as described in the Commission Documents will violate Regulation T, U or X of the Board of Governors of the Federal Reserve System
or any other regulation of such Board of Governors.


 


Section 5.29      
Taxes. The Company and each of its Subsidiaries have filed all federal, state, local and foreign tax returns which have
been required to be filed and paid all taxes shown thereon through the date hereof, to the extent that such taxes have become due and
are not being contested in good faith, except where the failure to so file or pay would not have a Material Adverse Effect. Except as
otherwise disclosed in or contemplated by the Commission Documents, no tax deficiency has been determined adversely to the Company or
any of its Subsidiaries which has had, or would have, individually or in the aggregate, reasonably expected to be a Material Adverse Effect.
The Company has no knowledge of any federal, state or other governmental tax deficiency, penalty or assessment which has been or might
be asserted or threatened against it which would reasonably have a Material Adverse Effect.


 






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Section 5.30      
ERISA. To the knowledge of the Company, (i) each material employee benefit plan, within the meaning of Section 3(3)
of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), that is maintained, administered
or contributed to by the Company or any of its affiliates for employees or former employees of the Company and any of its Subsidiaries
has been maintained in material compliance with its terms and the requirements of any applicable statutes, orders, rules and regulations,
including but not limited to ERISA and the Internal Revenue Code of 1986, as amended (the “Code”); and (ii)
no prohibited transaction, within the meaning of Section 406 of ERISA or Section 4975 of the Code, has occurred which would result in
a material liability to the Company with respect to any such plan excluding transactions effected pursuant to a statutory or administrative
exemption other than in the case of and (ii) above as would not have a Material Adverse Effect.


 


Section 5.31      
Stock Transfer Taxes. All stock transfer or other taxes (other than income taxes) which are required to be paid in connection
with the sale and transfer of the Shares to be sold hereunder will be, or will have been, fully paid or provided for by the Company and
all laws imposing such taxes will be or will have been fully complied with.


 


Section 5.32      
Insurance. The Company and each of its Subsidiaries carry, or are covered by, insurance in such amounts and covering
such risks as the Company and each of its Subsidiaries reasonably believe are adequate for the conduct of their properties and as is customary
for companies engaged in similar businesses in similar industries.


 


Section 5.33      
Exemption from Registration. Subject to, and in reliance on, the representations, warranties and covenants made herein
by the Investor, the offer and sale of the Shares in accordance with the terms and conditions of this Agreement is exempt from the registration
requirements of the Securities Act pursuant to Section 4(a)(2) and/or Rule 506(b) of Regulation D; provided, however, that
at the request of and with the express agreements of the Investor (including, without limitation, the representations, warranties and
covenants of Investor set forth in Section 4.9 through 4.13), the Shares to be issued from and after Commencement to or for the benefit
of the Investor pursuant to this Agreement shall be issued to the Investor or its designee only as DWAC Shares and will not bear legends
noting restrictions as to resale of such securities under federal or state securities laws, nor will any such securities be subject to
stop transfer instructions.


 


Section 5.34      
No General Solicitation or Advertising. Neither the Company, nor any of its Subsidiaries or Affiliates, nor any Person
acting on its or their behalf, has engaged in any form of general solicitation or general advertising (within the meaning of Regulation
D) in connection with the offer or sale of the Shares.


 






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Section 5.35      
No Integrated Offering. None of the Company, its Subsidiaries or any of their Affiliates, nor any Person acting on their
behalf has, directly or indirectly, made any offers or sales of any security or solicited any offers to buy any security, under circumstances
that would require registration of the issuance of any of the Shares under the Securities Act, whether through integration with prior
offerings or otherwise, or cause this offering of the Shares to require approval of stockholders of the Company under any applicable stockholder
approval provisions, including, without limitation, under the rules and regulations of the Principal Market. None of the Company, its
Subsidiaries, their Affiliates nor any Person acting on their behalf will take any action or steps referred to in the preceding sentence
that would require registration of the issuance of any of the Shares under the Securities Act or cause the offering of any of the Shares
to be integrated with other offerings.


 


Section 5.36      
Dilutive Effect. The Company is aware and acknowledges that issuance of the Shares could cause dilution to existing
stockholders and could significantly increase the outstanding number of shares of Common Stock. The Company further acknowledges that
its obligation to issue the Shares to be purchased by the Investor pursuant to a VWAP Purchase is, upon the Company’s delivery to
the Investor of a VWAP Purchase Notice for a VWAP Purchase in accordance with this Agreement, absolute and unconditional following the
delivery of such VWAP Purchase Notice to the Investor, regardless of the dilutive effect that such issuance may have on the ownership
interests of other stockholders of the Company.


 


Section 5.37      
Manipulation of Price. Neither the Company nor any of its officers, directors or Affiliates has, and, to the Knowledge
of the Company, no Person acting on their behalf has, (i) taken, directly or indirectly, any action designed or intended to cause or to
result in the stabilization or manipulation of the price of any security of the Company, or which caused or resulted in, or which would
in the future reasonably be expected to cause or result in, the stabilization or manipulation of the price of any security of the Company,
in each case to facilitate the sale or resale of any of the Shares, (ii) sold, bid for, purchased, or paid any compensation for soliciting
purchases of, any of the Shares, or (iii) paid or agreed to pay to any Person any compensation for soliciting another to purchase any
other securities of the Company. Neither the Company nor any of its officers, directors or Affiliates will during the term of this Agreement,
and, to the Knowledge of the Company, no Person acting on their behalf will during the term of this Agreement, take any of the actions
referred to in the immediately preceding sentence.


 


Section 5.38      
Listing and Maintenance Requirements; DTC Eligibility. After the closing of the Business Combination (as defined below),
the Common Stock will be registered pursuant to Section 12(b) of the Exchange Act, and the Company shall have taken no action designed
to, or which to its Knowledge is likely to have the effect of, terminating the registration of the Common Stock under the Exchange Act,
nor has the Company received any notification that the Commission is contemplating terminating such registration, except as has been disclosed
in the Commission Documents. The Company has not received notice from the Principal Market to the effect that the Company is not in compliance
with the listing or maintenance requirements of the Principal Market, except as has been disclosed in the Commission Documents. The Common
Stock shall be eligible for participation in the DTC book entry system and shall have shares on deposit at DTC for transfer electronically
to third parties via DTC through its Deposit/Withdrawal at Custodian (“DWAC”) delivery system. The Company has
not received notice from DTC to the effect that a suspension of, or restriction on, accepting additional deposits of the Common Stock,
electronic trading or book-entry services by DTC with respect to the Common Stock is being imposed or is contemplated.


 






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Section 5.39      
Application of Takeover Protections. The Company and its Board of Directors have taken all necessary action, if any,
in order to render inapplicable any control share acquisition, business combination, poison pill (including any distribution under a rights
agreement) or other similar anti-takeover provision under the Company’s Charter or the laws of its state of incorporation that is
or could become applicable to the Investor as a result of the Investor and the Company fulfilling their respective obligations or exercising
their respective rights under the Transaction Documents (as applicable), including, without limitation, as a result of the Company’s
issuance of the Shares and the Investor’s ownership of the Shares.


 


Section 5.40      
OFAC. Neither the Company nor any of its Subsidiaries (collectively, the “Entity”), nor any
director, officer, employee, agent, affiliate or representative of the Company, is a Person that is, or is owned or controlled by a Person
that is (i) the subject of any sanctions administered or enforced by the Office of Foreign Asset Control (“OFAC”),
the United Nations Security Council, the European Union, Her Majesty’s Treasury, or other relevant sanctions authorities, including,
without limitation, designation on OFAC’s Specially Designated Nationals and Blocked Persons List or OFAC’s Foreign Sanctions
Evaders List or other relevant sanctions authority (collectively, “Sanctions”), nor (ii) located, organized
or resident in a country or territory that is the subject of Sanctions that broadly prohibit dealings with that country or territory (including,
without limitation, the Crimea, Donetsk People’s Republic or Luhansk People’s Republic regions of Ukraine, Cuba, Iran, North
Korea and Syria (the “Sanctioned Countries”)). The Entity will not, directly or indirectly, use the proceeds
from the sale of Shares, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other
Person (a) to fund or facilitate any activities or business of or with any Person or in any country or territory that, at the time of
such funding or facilitation, is the subject of Sanctions or is a Sanctioned Country, or (b) in any other manner that will result in a
violation of Sanctions by any Person (including any Person participating in the transactions contemplated by this agreement, whether as
underwriter, advisor, investor or otherwise). For the past five years, the Entity has not engaged in, and is now not engaged in, any dealings
or transactions with any Person, or in any country or territory, that at the time of the dealing or transaction is or was the subject
of Sanctions or was a Sanctioned Country.


 


Section 5.41      
Information Technology; Compliance with Data Privacy Laws. The Company and its Subsidiaries comply in all respects with
(i) all applicable Privacy/Data Security Laws, (ii) any applicable privacy or other policies of the Company or any of its Subsidiaries,
respectively, concerning the collection, dissemination, storage or use of Personal Information or other Business Data, (iii) industry
standards to which the Company or any of its Subsidiaries, respectively, purports to adhere, and (iv) all contractual commitments that
the Company or any of its Subsidiaries has entered into with respect to privacy and/or data security (collectively, the “Data
Security Requirements”), except where the failure to so comply would not reasonably be expected to have a Material Adverse
Effect. The Company and its Subsidiaries have implemented commercially reasonable data security safeguards designed to protect the security
and integrity of the Business Systems and Business Data. Except as has not resulted in a Material Adverse Effect, to the Company’s
Knowledge, neither the Company nor any Subsidiary has experienced any data security breaches, unauthorized access or use of any of the
Business Systems, or unauthorized acquisition, destruction, damage, disclosure, loss, corruption, alteration, or use of any Business Data;
or been subject to or received written notice of any audits, proceedings or investigations by any Governmental Authority or any customer,
or received any material claims or complaints regarding the collection, dissemination, storage or use of Personal Information, or the
violation of any applicable Data Security Requirements.


 






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Section 5.42      
Acknowledgement Regarding Investor’s Acquisition of Shares; Affiliate Relationships. The Company acknowledges
and agrees, to the fullest extent permitted by law, that the Investor is acting solely in the capacity of an arm’s-length purchaser
with respect to this Agreement and the transactions contemplated by the Transaction Documents, and Cantor Fitzgerald & Co. (“CF&CO”)
is acting as a representative of the Investor in connection with the transactions contemplated by the Transaction Documents, and of no
other party, including the Company. The Company further acknowledges that while the Investor will be deemed to be a statutory “underwriter”
with respect to the transactions contemplated by the Transaction Documents in accordance with interpretive positions of the Staff of the
Commission, the Investor has represented it is a “trader” that is not required to register with the Commission as a broker-dealer
under Section 15(a) of the Securities Exchange Act of 1934. The Company further acknowledges that the Investor and its representatives
are not acting as a financial advisor or fiduciary of the Company (or in any similar capacity, except as noted above) with respect to
this Agreement and the transactions contemplated by the Transaction Documents, and any advice given by the Investor or any of its representatives
(including CF&CO) or agents in connection therewith is merely incidental to the Investor’s acquisition of the Shares. The Company
further represents to the Investor that the Company’s decision to enter into the Transaction Documents to which it is a party has
been based solely on the independent evaluation of the transactions contemplated thereby by the Company and its representatives. The Company
acknowledges and agrees that the Investor has not made and does not make any representations or warranties with respect to the transactions
contemplated by the Transaction Documents other than those specifically set forth in Article IV. Affiliates of the Investor, including
CF&CO, engage in a wide range of activities for their own accounts and the accounts of customers, including corporate finance, mergers
and acquisitions, merchant banking, equity and fixed income sales, trading and research, derivatives, foreign exchange, futures, asset
management, custody, clearance and securities lending. In the course of its business, affiliates of Investor may, directly or indirectly,
hold long or short positions, trade and otherwise conduct such activities in or with respect to debt or equity securities and/or bank
debt of, and/or derivative products relating to, the Company. Any such position will be created, and maintained, independently of the
position Investor takes in the Company. In addition, at any given time affiliates of Investor, including CF&CO, may have been and/or
be engaged by one or more entities that may be competitors with, or otherwise adverse to, the Company in matters unrelated to the transactions
contemplated by the Transaction Documents, and affiliates of Investor, including CF&CO may have or may in the future provide investment
banking or other services to the Company in matters unrelated to the transactions contemplated by the Transaction Documents. Activities
of any of Investor’s affiliates performed on behalf of the Company may give rise to actual or apparent conflicts of interest given
Investor’s potentially competing interests with those of the Company. The Company expressly acknowledges the benefits it receives
from Investor’s participation in the transactions contemplated by the Transaction Documents, on the one hand, and Investor’s
affiliates’ activities, if any, on behalf of the Company unrelated to the transactions contemplated by the Transaction Documents,
on the other hand, and understands the conflict or potential conflict of interest that may arise in this regard, and has consulted with
such independent advisors as it deems appropriate in order to understand and assess the risks associated with these potential conflicts
of interest. Consistent with applicable legal and regulatory requirements, applicable affiliates of the Investor have adopted policies
and procedures to establish and maintain the independence of their research departments and personnel from their investment banking groups
and Investor. As a result, research analysts employed by affiliates of the Investor may hold views, make statements or investment recommendations
and/or publish research reports with respect to the Company or the transactions contemplated by the Transaction Documents that differ
from the views of Investor.


 






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Section 5.43      
Emerging Growth Company Status. From the time of the initial filing of the Company’s first registration statement
with the Commission through the date hereof, the Company has been and is an “emerging growth company,” as defined in Section
2(a) of the Securities Act (an “Emerging Growth Company”).


 


Article
VI

ADDITIONAL COVENANTS


 


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


 


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


 


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


 






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


 


Section 6.4          
Compliance with Laws.


 


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


 


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


 


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


 


(i)                
The Investor and the Company shall each maintain records showing the remaining Total Commitment, the remaining Aggregate Limit
and the dates and VWAP Purchase Share Amount for each VWAP Purchase.


 


(ii)             
Subject to the requirements of Section 6.12, from time to time from and after the Closing Date, the Company shall make available
for inspection and review by the Investor during normal business hours and after reasonable notice, customary documentation reasonably
requested by the Investor and/or its appointed counsel or advisors to conduct due diligence; provided, however, that after
the Closing Date, the Investor’s continued due diligence shall not be a condition precedent to the Company’s right to deliver
to the Investor any VWAP Purchase Notice or the settlement thereof except to the extent expressly contemplated by this Agreement.


 






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Section 6.6          
No Frustration; No Variable Rate Transactions.


 


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


 


(ii)             
No Variable Rate Transactions. The Company shall not effect or enter into an agreement to effect any issuance by
the Company or any of its Subsidiaries of Common Stock or Common Stock Equivalents (or a combination of units thereof) involving a Variable
Rate Transaction, other than in connection with an Exempt Issuance. The Investor shall be entitled to seek injunctive relief against the
Company and its Subsidiaries to preclude any such issuance, which remedy shall be in addition to any right to collect damages, without
the necessity of showing economic loss and without any bond or other security being required.


 


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


 


Section 6.8          
Fundamental Transaction. If a VWAP Purchase Notice has been delivered to the Investor and the transactions contemplated
therein have not yet been fully settled in accordance with the terms and conditions of this Agreement, the Company shall not effect any
Fundamental Transaction until the expiration of five (5) Trading Days following the date of full settlement thereof and the issuance to
the Investor of all of the Shares issuable pursuant to the VWAP Purchase to which such VWAP Purchase Notice relates.


 


Section 6.9          
Selling Restrictions.


 


(i)                
Except as expressly set forth below, the Investor covenants that from and after the Closing Date through and including the Trading
Day next following the expiration or termination of this Agreement as provided in Article VIII (the “Restricted Period”),
none of the Investor, any of its officers, or any entity managed or controlled by the Investor (collectively, the “Restricted
Persons” and each of the foregoing is referred to herein as a “Restricted Person”) shall, directly
or indirectly, (i) engage in any Short Sales of the Common Stock or (ii) hedging transaction, which establishes a net short position with
respect to the Common Stock, with respect to each of clauses (i) and (ii) hereof, either for its own principal account or for the principal
account of any other Restricted Person. Notwithstanding the foregoing, it is expressly understood and agreed that nothing contained herein
shall (without implication that the contrary would otherwise be true) prohibit any Restricted Person during the Restricted Period from:
(1) selling “long” (as defined under Rule 200 promulgated under Regulation SHO) the Shares; or (2) selling a number of shares
of Common Stock equal to the number of Shares that such Restricted Person is unconditionally obligated to purchase under a pending VWAP
Purchase Notice but has not yet received from the Company or the Transfer Agent pursuant to this Agreement, so long as (X) such Restricted
Person (or the Broker-Dealer, as applicable) delivers the Shares purchased pursuant to such VWAP Purchase Notice to the purchaser thereof
or the applicable Broker- Dealer promptly upon such Restricted Person’s receipt of such Shares from the Company in accordance with
Section 3.2 of this Agreement and (Y) neither the Company or the Transfer Agent shall have failed for any reason to deliver such Shares
to the Investor or its Broker-Dealer so that such Shares are received by the Investor as DWAC Shares on the applicable VWAP Purchase Share
Delivery Date in accordance with Section 3.2 of this Agreement, including, without limitation, within the time period specified for receipt
of such Shares by the Investor or its Broker-Dealer as DWAC Shares from the Company or the Transfer Agent.


 






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


 


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


 


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


 


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


 






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


 


Section 6.14      
Disclosure Schedule.


 


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


 


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


 






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Section 6.15      
Delivery of Bring Down Opinions and Compliance Certificates Upon Occurrence of Certain Events. Following the Commencement,
within three (3) Trading Days immediately following each time the Company files (i) an annual report on Form 10-K under the Exchange Act
(including any Form 10-K/A containing amended financial information or a material amendment to the previously filed Form 10-K); (ii) a
quarterly report on Form 10-Q under the Exchange Act; (iii) a current report on Form 8-K containing amended financial information (other
than information “furnished” pursuant to Items 2.02 or 7.01 of Form 8-K or to provide disclosure pursuant to Item 8.01 of
Form 8-K relating to the reclassification of certain properties as discontinued operations in accordance with Statement of Financial Accounting
Standards No. 144) under the Exchange Act; or (iv) the Initial Registration Statement, any New Registration Statement, or any supplement
or post-effective amendment thereto, and in any case, not more than once per calendar quarter (each, a “Representation Date”),
the Company shall (1) deliver to the Investor a Compliance Certificate in the form attached hereto as Exhibit B, dated such date, (2)
cause to be furnished to the Investor an opinion from outside counsel to the Company substantially in the form mutually agreed to by the
Company and the Investor prior to the date of this Agreement (each such opinion, a “Bring- Down Opinion”) and
(3) cause to be furnished to the Investor a comfort letter from each and any independent registered public accounting firm of the Company
or its predecessors (in the case of a post-effective amendment, only if such amendment contains amended or new financial information),
modified, as necessary, to relate to such Registration Statement or post-effective amendment, or the Prospectus contained therein as then
amended or supplemented by such Prospectus Supplement, as applicable (each such comfort letter, a “Bring Down Comfort Letter”);
provided, however, that no Bring Down Comfort Letter shall be required of any accountant whose report on the consolidated financial
statements of the Company is no longer incorporated in any such Registration Statement or the Prospectus contained therein (as amended
or supplemented by any such Prospectus Supplement). The requirement to provide the documents identified in clauses (1), (2) and (3) of
this Section 6.15 (collectively, the “Bring-Down Documents”) shall be waived for any Representation Date if
the Company or the Investor has given notice to the other party in writing (including by email correspondence to the individual(s) of
the other party set forth in Section 10.4 hereto, if receipt of such correspondence is actually acknowledged by any individual to whom
the notice is sent, other than via auto-reply) or by telephone (confirmed immediately by verifiable facsimile transmission or email correspondence
to the individual(s) of the other party set forth in Section 10.4 hereto) of the suspension of VWAP Purchases (a “Suspension”),
which waiver shall continue until the earlier to occur of the date the Company gives notice of the cessation of the Suspension and the
date the Company delivers a VWAP Purchase Notice hereunder (in each case, which for such calendar quarter shall be considered a Representation
Date). Notwithstanding the foregoing, if the Company subsequently decides to deliver a VWAP Purchase Notice following a Representation
Date when a Suspension was in effect and did not provide the Investor with the Bring-Down Documents, then before the Investor accepts
such VWAP Purchase Notice, the Company shall provide the Investor with the Bring-Down Documents, dated as of the date that the VWAP Purchase
Notice is accepted by the Investor.


 






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Article
VII

CONDITIONS TO CLOSING AND CONDITIONS TO THE SALE AND

PURCHASE OF THE SHARES


 


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


 


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


 


(ii)             
Accuracy of the Company’s Representations and Warranties. The representations and warranties of the Company
contained in this Agreement shall be true and correct as of the Closing Date, except to the extent such representations and warranties
are as of another date, in which case, such representations and warranties shall be true and correct as of such other date.


 


(iii)           
Closing Deliverables. At the Closing, counterpart signature pages of this Agreement and the Registration Rights Agreement
executed by each of the parties hereto shall be delivered as provided in Section 2.2. Simultaneously with the execution and delivery of
this Agreement and the Registration Rights Agreement, the Investor’s counsel shall have agreed to the forms of opinions to be delivered
to the Investor on the Commencement Date.


 


Section 7.2          
Conditions Precedent to Commencement. The right of the Company to commence delivering VWAP Purchase Notices under this
Agreement, and the obligation of the Investor to accept VWAP Purchase Notices delivered to the Investor by the Company under this Agreement,
are subject to the initial satisfaction, at Commencement, of each of the conditions set forth in this Section 7.2.


 


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


 






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


 


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


 


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


 


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


 






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


 


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


 


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


 


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


 


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


 






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


 


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


 


(xiii)       
[Reserved].


 


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


 


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


 


(xvi)        
Opinions of Company Counsel. On the Commencement Date, the Investor shall have received the opinions and negative
assurances from outside counsel to the Company, dated the Commencement Date, in the forms mutually agreed to by the Company and the Investor
prior to the date of this Agreement.


 


(xvii)     
Comfort Letter of Accountant. On the Commencement Date, the Investor shall have received from each of Deloitte and
Marcum or a successor independent registered public accounting firm for the Company, a customary letter dated the date of the filing of
the Registration Statement addressed to the Investor, in form and substance reasonably satisfactory to the Investor with respect to the
audited and unaudited financial statements and certain financial information contained in the Registration Statement and the Prospectus,
and any Prospectus Supplement, except that the specific date referred to therein for the carrying out of procedures shall be no more than
three Business Days prior to the Commencement Date.


 


(xviii)   
Completion of Due Diligence. The Investor shall have completed
a due diligence investigation of the Company satisfactory to the Investor prior to the filing of the Initial Registration Statement.


 






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


 


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


 


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


 


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


 






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


 


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


 


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


 






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


 


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


 






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


 


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


 


(xi)         Bring-Down Opinions of Company Counsel, Bring-Down Comfort Letters and Compliance Certificates. The Investor shall
have received (a) all Bring-Down Opinions from outside counsel to the Company for which the Company was obligated to instruct its outside
counsel to deliver to the Investor prior to the applicable VWAP Purchase Condition Satisfaction Time for the applicable VWAP Purchase,
(b) all Bring-Down comfort letters provided by the Company’s auditors and delivered to the Investor prior to the applicable VWAP
Purchase Condition Satisfaction Time for the applicable VWAP Purchase and (c) all Compliance Certificates from the Company that the Company
was obligated to deliver to the Investor prior to the applicable VWAP Purchase Condition Satisfaction Time for the applicable VWAP Purchase,
in each case in accordance with Section 6.15.


 


(xii)         
Material Non-Public Information. Neither the Company nor, in the Investor’s sole discretion, the Investor,
shall be in possession of any material non-public information concerning the Company.


 


(xiii)       
Payment of Expenses. The Company shall be in compliance with its obligations pursuant to Section 10.1(i) of this
Agreement and invoices for reimbursement the fees and disbursements of legal counsel to the Investor shall not be more than 30 days in
arrears.


 


Article
VIII

TERMINATION


 


Section 8.1          
Automatic Termination. Unless earlier terminated as provided hereunder, this Agreement shall terminate automatically
on the earliest to occur of (i) the first day of the month next following the 36-month anniversary of the Effective Date of the Initial
Registration Statement (it being hereby acknowledged and agreed that such term may be extended by the parties hereto), (ii) the date on
which the Investor shall have purchased the Total Commitment worth of Shares pursuant to this Agreement, (iii) the date on which the Common
Stock shall have failed to be listed or quoted on the Principal Market or any other Principal Market for a period of 60 consecutive days,
and (iv) the date on which, pursuant to or within the meaning of any Bankruptcy Law, the Company commences a voluntary case or any Person
commences a proceeding against the Company, a Custodian is appointed for the Company or for all or substantially all of its property,
or the Company makes a general assignment for the benefit of its creditors.


 






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Section 8.2          
Other Termination. Subject to Section 8.3, the Company may terminate this Agreement after the Commencement Date effective
upon three (3) Trading Days’ prior written notice to the Investor in accordance with Section 10.4; provided, however,
that (i) the Company shall remain obligated with respect to all due and payable Commitment Fee amounts to the Investor required to be
paid pursuant to Section 10.1(ii) of this Agreement, and (ii) prior to issuing any press release, or making any public statement or announcement,
with respect to such termination, the Company shall consult with the Investor and its counsel on the form and substance of such press
release or other disclosure. Subject to Section 8.3, this Agreement may be terminated at any time by the mutual written consent of the
parties, effective as of the date of such mutual written consent unless otherwise provided in such written consent. Subject to Section
8.3, the Investor shall have the right to terminate this Agreement effective upon three (3) Trading Days’ prior written notice to
the Company, which notice shall be made in accordance with Section 10.4, if: (a) any condition, occurrence, state of facts or event constituting
a Material Adverse Effect has occurred and is continuing or constituting a failure of a condition section forth in Section 7.2, which
cannot be cured within 10 business days; (b) a Fundamental Transaction shall have occurred (excluding the Business Combination, if applicable);
(c) the Company is in breach or default in any material respect of any of its covenants and agreements the Registration Rights Agreement,
and, if such breach or default is capable of being cured, such breach or default is not cured within fifteen (15) Trading Days after notice
of such breach or default is delivered to the Company pursuant to Section 10.4 of this Agreement; (d) while a Registration Statement,
or any post-effective amendment thereto, is required to be maintained effective pursuant to the terms of the Registration Rights Agreement
and the Investor holds any Registrable Securities, the effectiveness of such Registration Statement, or any post- effective amendment
thereto, lapses for any reason (including, without limitation, the issuance of a stop order by the Commission) or such Registration Statement
or any post-effective amendment thereto, the Prospectus contained therein or any Prospectus Supplement thereto otherwise becomes unavailable
to the Investor for the resale of all of the Registrable Securities included therein in accordance with the terms of the Registration
Rights Agreement, and such lapse or unavailability continues for a period of forty-five (45) consecutive Trading Days or for more than
an aggregate of ninety (90) Trading Days in any three hundred and sixty-five (365)-day period, other than due to acts of the Investor;
(e) trading in the Common Stock on the Principal Market (or if the Common Stock is then listed on an Principal Market, trading in the
Common Stock on such Principal Market) shall have been suspended and such suspension continues for a period of five (5) consecutive Trading
Days; or (f) the Company is in material breach or default of any of its covenants and agreements contained in this Agreement, and, if
such breach or default is capable of being cured, such breach or default is not cured within fifteen (15) Trading Days after notice of
such breach or default is delivered to the Company pursuant to Section 10.4 of this Agreement. Notwithstanding anything to the contrary
in this Agreement, no obligation, including the obligation to pay to Investor the Commitment Fee, shall arise until the consummation of
the business combination (the “Business Combination”). If the Merger Agreement is terminated, other than in
connection with the consummation of the Business Combination, then this Agreement shall be terminated and of no further effect, without
any liability of any party hereunder. Unless notification thereof is required elsewhere in this Agreement (in which case such notification
shall be provided in accordance with such other provision), the Company shall promptly (but in no event later than twenty-four (24) hours)
notify the Investor (and, if required under applicable law, including, without limitation, Regulation FD promulgated by the Commission,
or under the applicable rules and regulations of the Principal Market (or if the Common Stock is then listed on an Principal Market, under
the applicable rules and regulations of such Principal Market), the Company shall publicly disclose such information in accordance with
Regulation FD and the applicable rules and regulations of the Principal Market (or such Principal Market, as applicable)) upon becoming
aware of any of the events set forth in the immediately preceding sentence.


 






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Section 8.3          
Effect of Termination. In the event of termination by the Company or the Investor (other than by mutual termination)
pursuant to Section 8.2, written notice thereof shall forthwith be given to the other party as provided in Section 10.4 and the transactions
contemplated by this Agreement shall be terminated without further action by either party. If this Agreement is terminated as provided
in Section 8.1 or Section 8.2, this Agreement shall become void and of no further force and effect, except that (i) the provisions of
Article V (Representations, Warranties and Covenants of the Company), Article IX (Indemnification), Article X (Miscellaneous) and this
Article VIII (Termination) shall remain in full force and effect indefinitely notwithstanding such termination, and, (ii) so long as the
Investor owns any Shares, the covenants and agreements of the Company contained in Article VI (Additional Covenants) shall remain in full
force and notwithstanding such termination for a period of thirty (30) days following such termination. Notwithstanding anything in this
Agreement to the contrary, no termination of this Agreement by any party shall (i) become effective prior to the second (2nd) Trading
Day immediately following the date on which the purchase of Shares by the Investor pursuant to any pending VWAP Purchase has been fully
settled, including, without limitation, the delivery by the Company to the Investor of all Shares purchased by the Investor pursuant to
such pending VWAP Purchase as DWAC Shares on the applicable VWAP Purchase Share Delivery Date therefor, and the delivery by the Investor
to the Company of the aggregate VWAP Purchase Price payable by the Investor for such Shares, in each case in accordance with the settlement
procedures set forth in Section 3.2 of this Agreement (it being hereby acknowledged and agreed that no termination of this Agreement shall
limit, alter, modify, change or otherwise affect any of the Company’s or the Investor’s rights or obligations under the Transaction
Documents with respect to any pending VWAP Purchase that has not fully settled, and that the parties shall fully perform their respective
obligations with respect to any such pending VWAP Purchase under the Transaction Documents), (ii) limit, alter, modify, change or otherwise
affect the Company’s or the Investor’s rights or obligations under the Registration Rights Agreement, all of which shall survive
any such termination, or (iii) affect any Commitment Fee payable to the Investor (once the Investor has confirmed that the due diligence
condition set forth in Section 7.2(xviii) has been satisfied) pursuant to Section 10.1(ii), it being hereby acknowledged and agreed that
the entire amount of the Commitment Fee shall be fully earned by the Investor and shall be non-refundable, regardless of whether any VWAP
Purchases are made or settled hereunder or any subsequent termination of this Agreement, except as provided herein. Nothing in this Section
8.3 shall be deemed to release the Company or the Investor from any liability for any breach or default under this Agreement, the Registration
Rights Agreement or any of the other Transaction Documents to which it is a party, or to impair the rights of the Company and the Investor
to compel specific performance by the other party of its obligations under this Agreement, the Registration Rights Agreement or any of
the other Transaction Documents to which it is a party.


 






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Article
IX

INDEMNIFICATION


 


Section 9.1          
Indemnification of Investor. In consideration of the Investor’s execution and delivery of this Agreement and acquiring
the Shares hereunder and in addition to all of the Company’s other obligations under the Transaction Documents to which it is a
party, subject to the provisions of this Section 9.1, the Company shall indemnify and hold harmless the Investor, its affiliates, each
of their respective directors, officers, shareholders, members, partners, employees, representatives and agents (and any other Persons
with a functionally equivalent role of a Person holding such titles notwithstanding the lack of such title or any other title), each Person,
if any, who controls the Investor (within the meaning of Section 15 of the Securities Act or Section 20(a) of the Exchange Act), and the
respective directors, officers, shareholders, members, partners, employees, representatives and agents (and any other Persons with a functionally
equivalent role of a Person holding such titles notwithstanding the lack of such title or any other title) of such controlling Persons
(each, an “Investor Party”) each of which shall be an express third-party beneficiary of this Article IX, from
and against all losses, liabilities, obligations, claims, contingencies, damages, costs and expenses (including all judgments, amounts
paid in settlement, court costs, reasonable attorneys’ fees and costs of defense and investigation) (collectively, “Damages”)
that any Investor Party may suffer or incur (c) as a result of, relating to or arising out of or based upon any untrue statement or alleged
untrue statement of a material fact contained in any Commission Document (or any amendment thereto), or the omission or alleged omission
therefrom of a material fact required to be stated therein or necessary to make the statements therein not misleading, or arising out
of any untrue statement or alleged untrue statement of a material fact included in any Commission Document, or the omission or alleged
omission therefrom of a material fact necessary in order to make the statements therein, in the light of the circumstances under which
they were made, not misleading; provided, however, that this indemnity in (a) shall not apply to any loss, liability, claim,
damage or expense to the extent arising out of an untrue statement or omission, or alleged untrue statement or omission in a Commission
Document, made in reliance upon and in conformity with information furnished in writing to the Company by the Investor for the Investor
expressly for use in connection with the preparation of the Registration Statement, Prospectus or Prospectus Supplement or any such amendment
thereof or supplement thereto (it being hereby acknowledged and agreed that the written information set forth on Exhibit C to the
Registration Rights Agreement is the only written information furnished to the Company by or on behalf of the Investor expressly for use
in any Registration Statement, Prospectus or Prospectus Supplement), (b) to the extent of the aggregate amount paid in settlement of any
litigation, or any investigation or proceeding by any Governmental Authority, commenced or threatened, or of any claim whatsoever based
upon any such untrue statement or omission, or any such alleged untrue statement or omission; provided that any such settlement
is effected with the written consent of the Company, which consent shall not unreasonably be delayed, conditioned or withheld, (c) in
investigating, preparing or defending against any litigation, or any investigation or proceeding by any Governmental Authority, commenced
or threatened, or any claim whatsoever based upon any such untrue statement or omission, or any such alleged untrue statement or omission
(whether or not a party), to the extent that any such expense is not paid under (a) or (b) above, (d) as a result of, relating to or arising
out of any breach by the Company of its representations, warranties, covenants or agreements under this Agreement, or (e) as a result
of, relating to or arising out of any other action, suit, claim or proceeding against an Investor Party arising out of or otherwise in
connection with the Transaction Documents (except solely to the extent in the case of this subsection (e), to the extent any Damage is
determined by a court of competent jurisdiction, not subject to further appeal, to have resulted primarily and directly from the bad faith
or gross negligence, or willful misconduct of such Investor Party).


 






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


 


To the extent that the foregoing undertakings by the Company set forth
in this Section 9.1 may be unenforceable for any reason, the Company shall make the maximum contribution to the payment and satisfaction
of each of the Damages which is permissible under applicable law, provided that in no event shall the Investor be obligated to contribute
any amount in excess of the fees it actually receives pursuant to this Agreement.


 


Section 9.2        Indemnification Procedures.


 


(a)        Promptly
after an Investor Party receives notice of a claim or the commencement of an action for which the Investor Party intends to seek indemnification
under Section 9.1, the Investor Party will notify the Company in writing of the claim or commencement of the action, suit or proceeding;
provided, however, that failure to notify the Company will not relieve the Company from liability under Section 9.1, unless and
solely to the extent it has been materially prejudiced by the failure to give such notice as evidenced by the forfeiture of by the Company
of substantive rights or defenses. The Company will be entitled to participate in the defense of any claim, action, suit or proceeding
as to which indemnification is being sought, and if the Company acknowledges in writing the obligation to indemnify the Investor Party
against whom the claim or action is brought, the Company may (but will not be required to) assume the defense against the claim, action,
suit or proceeding with counsel satisfactory to it. After the Company notifies the Investor Party that the Company wishes to assume the
defense of a claim, action, suit or proceeding, the Company will not be liable for any further legal or other expenses incurred by the
Investor Party in connection with the defense against the claim, action, suit or proceeding unless (1) the employment of counsel by the
Investor Party has been authorized in writing by the Company, (2) the Investor Party has reasonably concluded (based on advice of counsel)
that there may be legal defenses available to it or another Investor Party that are different from or in addition to those available
to the Company, (3) a conflict or potential conflict exists (based on advice of counsel to the Investor Party) between an Investor Party
and the Company (in which case the Company will not have the right to direct the defense of such action on behalf of the indemnified
party) or (4) the Company has not in fact employed counsel to assume the defense of such action or counsel reasonably satisfactory to
the indemnified party, in each case, within a reasonable time after receiving notice of the commencement of the action; in each of which
cases the reasonable fees, disbursements and other charges of counsel will be at the expense of the Company. It is understood that the
Company shall not, in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the reasonable fees,
disbursements and other charges of more than one separate firm (plus local counsel) admitted to practice in such jurisdiction at any
one time for all such similarly situated Investor Parties. The Company will not be liable for any settlement of any action effected without
its prior written consent, which consent shall not be unreasonably withheld, delayed or conditioned. The Company shall not, without the
prior written consent of each indemnified party, settle or compromise or consent to the entry of any judgment in any pending or threatened
claim, action or proceeding relating to the matters contemplated by this section (whether or not any indemnified party is a party thereto),
unless such settlement, compromise or consent (1) includes an express and unconditional release of each indemnified party, in form and
substance reasonably satisfactory to such indemnified party, from all liability arising out of such litigation, investigation, proceeding
or claim and (2) does not include a statement as to or an admission of fault, culpability or a failure to act by or on behalf of any
indemnified party.


 






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(b)        In order to provide for just and equitable contribution in circumstances in which the indemnification provided for in the foregoing
paragraphs of this Article IX for any reason is held to be unavailable or insufficient to hold an Investor Party harmless, the Company
and the Investor Party will contribute to the total losses, claims, liabilities, expenses and damages (including any investigative, legal
and other expenses reasonably incurred in connection with, and any amount paid in settlement of, any action, suit or proceeding or any
claim asserted) to which the Company and the Investor Party may be subject in such proportion as shall be appropriate to reflect the relative
benefits received by the Company on the one hand and the Investor on the other hand. The relative benefits received by the Company on
the one hand and the Investor Party on the other hand shall be deemed to be in the same proportion as the total net proceeds from the
aggregate of all VWAP Purchase Amounts (before deducting expenses) received by the Company bear to the total compensation received by
the Investor from the Company pursuant to this Agreement. If, but only if, the allocation provided by the foregoing sentence is not permitted
by applicable law, the allocation of contribution shall be made in such proportion as is appropriate to reflect not only the relative
benefits referred to in the foregoing sentence but also the relative fault of the Company, on the one hand, and the Investor Party, on
the other hand, with respect to the statements or omission that resulted in such loss, claim, liability, expense or damage, or action
in respect thereof, as well as any other relevant equitable considerations with respect to such offering. Such relative fault shall be
determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or omission or alleged
omission to state a material fact relates to information supplied by the Company or the Investor Party, the intent of the parties and
their relative knowledge, access to information and opportunity to correct or prevent such statement or omission. The Company and the
Investor Party agree that it would not be just and equitable if contributions pursuant to this Section 9.2(b) were to be determined by
pro rata allocation or by any other method of allocation that does not take into account the equitable considerations referred to herein.
The amount paid or payable by an indemnified party as a result of the loss, claim, liability, expense, or damage, or action in respect
thereof, referred to above in this Section 9.2(b) shall be deemed to include, for the purpose of this Section 9.2(b), any legal or other
expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim to the extent
consistent with Section 9.2(a) hereof. Notwithstanding the foregoing provisions of this Section 9.2(b), the Investor shall not be required
to contribute any amount in excess of the commissions received by it under this Agreement and no person found guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Securities Act) will be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation. For purposes of this Section 9.2(b), any person who controls a party to this Agreement within the meaning
of the Securities Act, any affiliates of the Investor Party and any officers, directors, partners, employees or agents of the Investor
Party or any of its affiliates, will have the same rights to contribution as that party, and each director of the Company and each officer
of the Company who signed the Registration Statement will have the same rights to contribution as the Company, subject in each case to
the provisions hereof. Any party entitled to contribution, promptly after receipt of notice of commencement of any action against such
party in respect of which a claim for contribution may be made under this Section 9.2(b), will notify any such party or parties from whom
contribution may be sought, but the omission to so notify will not relieve that party or parties from whom contribution may be sought
from any other obligation it or they may have under this Section 9.2(b) except to the extent that the failure to so notify such other
party materially prejudiced the substantive rights or defenses of the party from whom contribution is sought. No party will be liable
for contribution with respect to any action or claim settled without its written consent if such consent is required pursuant to Section
9.2(a) hereof.


 






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


 


Article
X

MISCELLANEOUS


 


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


 


(i)                
Certain Fees and Expenses. Each party shall bear its own fees and expenses related to the transactions contemplated
by this Agreement except that the Company will reimburse the fees and disbursements of legal counsel to the Investor in an amount not
to exceed $75,000 in connection with the entry into this Agreement and $25,000 per fiscal quarter in connection with the Investor’s
ongoing due diligence and review of deliverables subject to Section 6.15. The Company shall pay all U.S. federal, state and local stamp
and other similar transfer and other taxes and duties levied in connection with issuance of the Shares pursuant hereto.


 






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(ii)             
Commitment Fee. In consideration for the Investor’s execution and delivery of this Agreement, the Company shall
pay the Commitment Fee in full to the Investor, by wire transfer of immediately available funds not later than 4:00 p.m. (New York City
time) on the six-month anniversary of the Commencement Date (the “Commitment Fee Date”). The Company hereby
agrees to pay to the Investor no less than 12.5% of the proceeds to the Company with respect to any and all VWAP Purchases between the
Commencement Date and the Commitment Fee Date (up to the full amount of the Commitment Fee), and the payment of such amounts to the Investor
shall reduce, on a dollar-for-dollar basis the Commitment Fee payable on the Commitment Fee Date.


 


(iii)           
For the avoidance of doubt, once the Investor has confirmed that the due diligence condition set forth in Section 7.2(xviii) has
been satisfied, the entire Commitment Fee shall be fully earned by the Investor as of the consummation of the Business Combination and
shall be non-refundable, regardless of whether any VWAP Purchases are made or settled hereunder or any subsequent termination of this
Agreement, except as set forth in Section 2.2 or as a result of the objection of FINRA to the terms of the transactions contemplated by
the Transaction Documents.


 


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


 






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


 


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


 


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


 


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


 






    	 	46	 



     


    

 


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


 


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


 


If to the Company:


 


MSP Recovery, LLC

2701 Le Jeune Road, Floor 10, Coral Gables, FL 33134

Telephone Number: 305-614-2222

Email: aplasencia@msprecovery.com

Attention:

Alexandra Plasencia

General Counsel


 


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


 


Weil, Gotshal & Manges LLP

767 5th Avenue, New York, NY 10153

Telephone Number: 212-310-8000

Email: corey.chivers@weil.com

Attention: Corey Chivers


 


If to the Investor:


 


CF Principal Investments LLC

499 Park Avenue

New York, NY 10022


 






    	 	47	 



     


    

 


and:


 


CF Principal Investments LLC


499 Park Avenue, New York, NY 10022

Attention: General Counsel

Facsimile: 212-829-4708

Email: #legal-IBD@cantor.com


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


 


King & Spalding LLP

1185 Avenue of the Americas, Floor 34, New York, NY 10036

Telephone Number: 212-556-2100

Email: kmanz@kslaw.com


 


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


 




    	 	48	 



     


    


 


Section 10.5      
Waivers. No provision of this Agreement may be waived by the parties from and after the date that is one (1) Trading
Day immediately preceding the filing of the Initial Registration Statement with the Commission. Subject to the immediately preceding sentence,
no provision of this Agreement may be waived other than in a written instrument signed by the party against whom enforcement of such waiver
is sought. No failure or delay in the exercise of any power, right or privilege hereunder shall operate as a waiver thereof, nor shall
any single or partial exercise of any such power, right or privilege preclude other or further exercises thereof or of any other right,
power or privilege.


 


Section 10.6      
Amendments. No provision of this Agreement may be amended by the parties from and after the date that is one (1) Trading
Day immediately preceding the filing of the Initial Registration Statement with the Commission. Subject to the immediately preceding sentence,
no provision of this Agreement may be amended other than by a written instrument signed by both parties hereto.


 


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


 


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


 


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


 


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


 






    	 	49	 



     


    

 


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


 


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


 


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


 


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


 


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


 






    	 	50	 



     


    

 


Section 10.16  
Trust Account Waiver. Notwithstanding anything else in this Agreement, the Investor acknowledges that it has read the
Company’s prospectus dated August 13, 2020, and understands that the Company has established a trust account at J.P. Morgan Chase
Bank, N.A. (the “Trust Fund”) for the benefit of the Company’s public shareholders and that the Company may disburse
monies from the Trust Fund only (a) to the Company’s public shareholders in the event they elect to convert their ordinary shares
into cash in accordance with the Company’s amended and restated certificate of incorporation and/or the liquidation of the Company
or (b) to the Company after, or concurrently with, the consummation of a business combination. The Investor further acknowledges that,
if the transactions contemplated by the Merger Agreement, or, upon termination of the Merger Agreement, another business combination,
are not consummated by August 18, 2022, or such later date as shall be set forth in an amendment to the Company’s amended and restated
certificate of incorporation for the purpose of extending the date by which the Company must complete a business combination, the Company
will be obligated to return to its shareholders the amounts being held in the Trust Fund. Accordingly, the Investor, on behalf of itself
and its Affiliates, hereby waives all rights, title, interest or claim of any kind against the Company to collect from the Trust Fund
any monies that may be owed to them by the Company for any reason whatsoever (other than with respect to the deferred underwriting commission
pursuant to that certain Underwriting Agreement, dated August 13, 2020 by and among the Company and the underwriters named therein), including
but not limited to a breach of this Agreement by the Company or any negotiations, agreements or understandings with the Company (whether
in the past, present or future), and will not seek recourse against the Trust Fund at any time for any reason whatsoever. This paragraph
will survive the termination of this Agreement for any reason, but, notwithstanding anything set forth herein, will not limit the rights
of the Company or its shareholders at or following the Closing.


  


Section 10.17  
Further Assurances. From and after the Closing Date, upon the request of the Investor or the Company, each of the Company
and the Investor shall execute and deliver such instrument, documents and other writings as may be reasonably necessary or desirable to
confirm and carry out and to effectuate fully the intent and purposes of this Agreement.


 


[The remainder of this page
is intentionally left blank.]


 


 


 




    	 	51	 



     


    


 


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


 


	 	Lionheart Acquisition Corporation II
	 	 	 
	 	By:	/s/ Ophir Sternberg
	 	Name:	Ophir Sternberg
	 	Title:	Chairman, President and Chief
	 	 	Executive Officer
	 	 	 
	 	CF Principal Investments LLC
	 	 
	 	By:	/s/ Mark Kaplan
	 	Name:	Mark Kaplan
	 	Title:	Authorized Signatory


 


 


 







    [Signature Page to Equity Line Agreement]


     


    



 


 


	Acknowledged and agreed:	 
	 	 	 
	MSP Recovery, LLC	 
	 	 	 
	 	 	 
	 	 	 
	By:	/s/ John H. Ruiz	 
	Name: John H. Ruiz	 
	Title: Manager	 
	 	 	 
	 	 	 
	 	 	 
	By: 	/s/ Sandra Rodriguez	 
	Name: Sandra Rodriguez 	 
	Title: Manager	 





 




    [Signature Page to Equity Line Agreement]


     


    


 


ANNEX I TO THE

COMPANY COMMON STOCK PURCHASE AGREEMENT

DEFINITIONS


 


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


 


“Average Price” means
a price per Share (rounded to the nearest tenth of a cent) equal to the quotient obtained by dividing (i) the aggregate gross purchase
price paid by the Investor for all Shares purchased pursuant to this Agreement, by (ii) the aggregate number of Shares issued pursuant
to this Agreement.


 


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


 


“Base Price” means a
price per Share equal to the Minimum Price (subject to adjustment for any reorganization, recapitalization, non-cash dividend, stock split,
reverse stock split or other similar transaction that occurs on or after the date of this Agreement).


 


“Bloomberg” means Bloomberg,
L.P.


 


“Business Data” means
all business information and data, including Personal Information (whether of employees, contractors, consultants, customers, consumers,
or other persons and whether in electronic or any other form or medium) that is accessed, collected, used, stored, shared, distributed,
transferred, disclosed, destroyed, disposed of or otherwise processed by any of the Business Systems or otherwise in the course of the
conduct of the business of the Company and its Subsidiaries.


 


“Business Systems” means
all Software, computer hardware (whether general or special purpose), electronic data processors, databases, communications, telecommunications,
networks, interfaces, platforms, servers, peripherals, and computer systems, including any outsourced systems and processes, that are
owned or used in the conduct of the business of the Company and its Subsidiaries.


 


“Closing Date” means
the date of this Agreement.


 


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


 


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


 






     

     


    

 


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


 


“Commission Documents”
shall mean (1) the Company’s registration statement on Form S-4 initially filed with the Commission on November 10, 2021, including
any related prospectus or prospectuses, for the registration of the Common Stock to be issued pursuant to the agreement and plan of merger
by and among the parties listed in the Preamble, on file with the Commission at the time such registration statement became effective,
including the financial statements, schedules, exhibits and all other documents filed as a part thereof or incorporated therein and all
information deemed to be a part thereof as of the effective date of such registration statement under the Securities Act (the “Company
Form S-4 Registration Statement”), (2) the Company’s registration statement on Form S-1 (File No. 333-333-240130)
initially filed with the Commission on July 27, 2020, including any related prospectus or prospectuses (the “Company Form
S-1 Registration Statement”), (3) the proxy statement/prospectus, dated January 4, 2022, including all documents incorporated
or deemed incorporated therein by reference, included in the Registration Statement, as it may be supplemented, in the form in which such
proxy statement/prospectus has most recently been filed with the Commission pursuant to Rule 424(b) under the Securities Act (the “Company
Merger Proxy Statement/Prospectus”), (4) the Company’s 10-K, initially filed on March 8, 2022, and the Company’s
amended 10-K/A, dated April 7, 2022, (5) all reports, schedules, registrations, forms, statements, information and other documents filed
with or furnished to the Commission by the Company pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act since January 1,
2022, including, without limitation, the Current Report, (6) each Registration Statement, as the same may be amended from time to time,
the Prospectus contained therein and each Prospectus Supplement thereto and (7) all information contained in such filings and all documents
and disclosures that have been and heretofore shall be incorporated by reference therein.


 


“Commitment Fee” shall
mean an amount in cash equal to $7,500,000, payable in accordance with Section 10.1(ii).


 


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


 


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


 


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


 


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


 






     

     


    

 


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


 


“EDGAR” means the Commission’s
Electronic Data Gathering, Analysis and Retrieval System.


 


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


 


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


 


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


 


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


 


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


 






     

     


    

 


“Exempt Issuance” means
the issuance of (a) Common Stock, options or other equity incentive awards to employees, officers, directors or vendors of the Company
pursuant to any equity incentive plan duly adopted for such purpose, by the Company’s Board of Directors or a majority of the members
of a committee of the Board of Directors established for such purpose, (b)(1) any Shares issued to the Investor pursuant to this Agreement,
(2) any securities issued upon the exercise or exchange of or conversion of any shares of Common Stock or Common Stock Equivalents held
by the Investor at any time, or (3) any securities issued upon the exercise or exchange of or conversion of any Common Stock Equivalents
issued and outstanding on the date of this Agreement, provided that such securities referred to in this clause (3) have not been amended
since the date of this Agreement to increase the number of such securities or to decrease the exercise price, exchange price or conversion
price of such securities, (c) securities issued pursuant to acquisitions, divestitures, licenses, partnerships, collaborations or strategic
transactions approved by the Company’s Board of Directors or a majority of the members of a committee of directors established for
such purpose, which acquisitions, divestitures, licenses, partnerships, collaborations or strategic transactions can have a Variable Rate
Transaction component, provided that any such issuance shall only be to a Person (or to the equity holders of a Person) which is, itself
or through its subsidiaries, an operating company or an asset in a business synergistic with the business of the Company and shall provide
to the Company additional benefits in addition to the investment of funds, but shall not include a transaction in which the Company is
issuing securities primarily for the purpose of raising capital or to an entity whose primary business is investing in securities, (d)
Common Stock issued by the Company to the Investor or an Affiliate of the Investor in connection with any “equity line of credit”
or other continuous offering or similar offering of Common Stock pursuant to a written agreement between the Company and the Investor
or an Affiliate of the Investor, whereby the Company may sell Common Stock to the Investor or an Affiliate of the Investor at a future
determined price or (e) Common Stock issued by the Company by any method deemed to be an “at the market offering” as defined
in Rule 415(a)(4) under the Securities Act, exclusively to or through Cantor Fitzgerald & Co., as the Company’s sales agent,
pursuant to one or more written agreements between the Company and Cantor Fitzgerald & Co.


 


“FINRA” means the Financial
Industry Regulatory Authority.


 


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


 






     

     


    

 


“Governmental Authority”
means (i) any federal, provincial, state, local, municipal, national or international government or governmental authority, regulatory
or administrative agency, governmental commission, department, board, bureau, agency or instrumentality, court, tribunal, arbitrator or
arbitral body (public or private); (ii) any self-regulatory organization; or (iii) any political subdivision of any of the foregoing.


 


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


 


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


 


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


 


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


 


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


 


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


 


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


 






     

     


    

 


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


 


“Personal Information”
means (a) information related to an identified or identifiable individual (e.g., name, address telephone number, email address, financial
account number, government-issued identifier), (b) any other data used or intended to be used or which allows one to identify, contact,
or precisely locate an individual, including any internet protocol address or other persistent identifier, and (c) any other, similar
information or data regulated by Privacy/Data Security Laws.


 


“Principal Market” means
the Nasdaq Capital Market; provided however, that in the event the Company’s Common Stock is ever listed or traded on the New York
Stock Exchange, the NYSE American, the Nasdaq Global Select Market, or the Nasdaq Global Market, then the “Principal Market”
shall mean such other market or exchange on which the Company’s Common Stock is then listed or traded.


 


“Privacy/Data Security Laws”
means all laws governing the receipt, collection, use, storage, processing, sharing, security, disclosure, or transfer of Personal Information
or the security of the Business Systems or Business Data.


 


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


 


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


 


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


 


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


 


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


 


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


 


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


 






     

     


    

 


“Sale Price” means any
trade price for the shares of Common Stock on the Principal Market during normal trading hours, as reported by the Principal Market.


 


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


 


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


 


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


 


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


 


“Software” means all
computer software (in object code or source code format), data and databases, and related documentation and materials.


 


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


 


“Threshold Price” means
with respect to any particular VWAP Purchase Notice, the Sale Price on the VWAP Purchase Date equal to the greater of (i) 90% of the Closing
Sale Price on the Business Day immediately preceding the VWAP Purchase Date or (ii) such higher price as set forth by the Company in the
VWAP Purchase Notice.


 


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


 


“Trading Day” shall mean
any day on which the Principal Market or, if the Common Stock is then listed on a Principal Market, such Principal Market is open for
trading (regular way), including any day on which the Principal Market (or such Principal Market, as applicable) is open for trading (regular
way) for a period of time less than the customary time.


 


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


 


“Variable Rate Transaction”
means a transaction in which the Company (i) issues or sells any equity or debt securities that are convertible into, exchangeable or
exercisable for, or include the right to receive additional shares of Common Stock or Common Stock Equivalents either at a conversion
price, exercise price, exchange rate or other price that is based upon and/or varies with the trading prices of or quotations for the
Common Stock at any time after the initial issuance of such equity or debt securities, or (ii) issues or sells any equity or debt securities,
including without limitation, Common Stock or Common Stock Equivalents, either (A) at a price that is subject to being reset at some future
date after the initial issuance of such debt or equity security or upon the occurrence of specified or contingent events directly or indirectly
related to the business of the Company or the market for the Common Stock (other than standard anti- dilution protection for any reorganization,
recapitalization, non-cash dividend, stock split or other similar transaction), or (B) that are subject to or contain any put, call, redemption,
buy- back, price-reset or other similar provision or mechanism (including, without limitation, a “Black-Scholes” put or call
right, other than in connection with a “fundamental transaction”) that provides for the issuance of additional equity securities
of the Company or the payment of cash by the Company, or (iii) enters into any agreement, including, but not limited to, an “equity
line of credit” or “at the market offering” or other continuous offering or similar offering of Common Stock or Common
Stock Equivalents, whereby the Company may sell Common Stock or Common Stock Equivalents at a future determined price.


 



     

     


    




“VWAP” means, for the
Common Stock for a specified period, the dollar volume- weighted average price for the Common Stock on the Principal Market (or, if the
Common Stock is then listed on a Principal Market, on such Principal Market), for such period, as reported by Bloomberg through its “AQR”
function. All such determinations shall be appropriately adjusted for any stock dividend, stock split, stock combination, recapitalization
or other similar transaction during such period.


 


“VWAP Purchase Commencement Time”
means, with respect to a VWAP Purchase made pursuant to Section 3.1, 9:30:01 a.m., New York City time, on the applicable VWAP Purchase
Date, or such later time on such VWAP Purchase Date publicly announced by the Principal Market (or, if the Common Stock is then listed
on an Principal Market, by such Principal Market) as the official open (or commencement) of trading (regular way) on the Principal Market
(or such Principal Market, as applicable) on such VWAP Purchase Date..


 


“VWAP Purchase Date”
means, with respect to a VWAP Purchase made pursuant to Section 3.1, the Trading Day on which the Investor receives, after 6:00 a.m.,
New York City time, but prior to 9:00 a.m., New York City time, on such Trading Day, a valid VWAP Purchase Notice for such VWAP Purchase
in accordance with this Agreement.


 


“VWAP Purchase Maximum Amount”
means, with respect to a VWAP Purchase made pursuant to Section 3.1, a number of shares of Common Stock equal to the lesser of (i) a number
of shares of Common Stock, which, when aggregated with all other shares of Common Stock then beneficially owned by the Investor and its
affiliates (as calculated pursuant to Section 13(d) of the Exchange Act and Rule 13d-3 promulgated thereunder), would result in beneficial
ownership by the Investor of more than the Beneficial Ownership Limitation and (ii) a number of Shares equal to (A) the VWAP Purchase
Share Percentage multiplied by (B) the total number (or volume) of shares of Common Stock traded on the Principal Market (or, if the Common
Stock is then listed on an Principal Market, on such Principal Market) during the applicable VWAP Purchase Period on the applicable VWAP
Purchase Date for such VWAP Purchase and (ii) the VWAP Purchase Share Estimate.


 


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


 






     

     


    

 


“VWAP Purchase Period”
means, with respect to a VWAP Purchase made pursuant to Section 3.1, the period on the applicable VWAP Purchase Date for such VWAP Purchase
beginning at the applicable VWAP Purchase Commencement Time and ending at the applicable VWAP Purchase Termination Time.


 


“VWAP Purchase Price”
means the purchase price per Share to be purchased by the Investor in such VWAP Purchase on such VWAP Purchase Date equal to ninety-eight
percent (98.0%) of the VWAP over the applicable VWAP Purchase Period on such VWAP Purchase Date for such VWAP Purchase, to be appropriately
adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction.


 


“VWAP Purchase Share Amount”
means, with respect to a VWAP Purchase made pursuant to Section 3.1, the number of Shares to be purchased by the Investor in such VWAP
Purchase as specified by the Company in the applicable VWAP Purchase Notice, which number of Shares shall not exceed the applicable VWAP
Purchase Maximum Amount.


 


“VWAP Purchase Share Estimate”
means the number of shares of Common Stock constituting a good faith estimate by the Company of the number of Shares that the Investor
shall have the obligation to buy pursuant to the VWAP Purchase Notice.


 


“VWAP Purchase Share Percentage”
means, with respect to a VWAP Purchase made pursuant to Section 3.1, thirty-three percent (33%).


 


“VWAP Purchase Termination
Time” means, with respect to a VWAP Purchase made pursuant to Section 3.1, 4:00 p.m., New York City time, on the applicable
VWAP Purchase Date, or such earlier time publicly announced by the Principal Market (or, if the Common Stock is then listed on a Principal
Market, by such Principal Market) as the official close of trading (regular way) on the Principal Market on such applicable VWAP Purchase
Date.


 




     

     


    


 


EXHIBIT A

FORM OF REGISTRATION RIGHTS AGREEMENT


 


[TO BE FURNISHED SEPARATELY]


 




     

     


    


EXHIBIT B

CLOSING CERTIFICATE


 


[●], 202[●]


 


The undersigned, the [●] of Lionheart Acquisition Corporation
II, a Delaware corporation (the “Company”), delivers this certificate in connection with the Company Common
Stock Purchase Agreement, dated as of [●] (the “Agreement”), by and between the Company and , CF Principal
Investments LLC, a Delaware limited liability company (the “Investor”), and hereby certifies on the date hereof
that (capitalized terms used herein without definition have the meanings assigned to them in the Agreement):


 


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


 


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


 


3. The [Board of Directors] of the Company has approved the transactions
contemplated by the Transaction Documents; said approval has not been amended, rescinded or modified and remains in full force and effect
as of the date hereof. Attached hereto as Exhibit C are true, correct and complete copies of the resolutions approving the Agreement
duly adopted by the Board of Directors of the Company on [●], 202[●].


 


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


 


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


 


	 	 
	 	Name:
	 	Title:


 


 




     

     


    


 


EXHIBIT C



COMPLIANCE CERTIFICATE


 


The undersigned, the [●] of [●] (formerly known as Lionheart
Acquisition Corporation II, a Delaware corporation) (the “Company”), delivers this certificate in connection
with the Company Common Stock Purchase Agreement, dated as of [●] (the “Agreement”), by and between the
Company and CF Principal Investments LLC, a Delaware limited liability company (the “Investor”), and hereby
certifies on the date hereof that, to the best of his or her knowledge after reasonable investigation, on behalf of the Company (capitalized
terms used herein without definition have the meanings assigned to them in the Agreement):


 


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


 


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


 


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


 


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


 


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


 


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


 


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







     

     


    

 


 


The undersigned has executed this Certificate this [●] day of
[●], 202[●].


 


 


	 	By:	 
	 	Name:	 
	 	Title:	 


 


 




     

     


    


 


EXHIBIT D



FORM OF VWAP PURCHASE NOTICE


 


		From:	[Company Name]



		To:	CF Principal Investments LLC



		Attention:	Chief Operating Officer



Copy to:CFControlledEquityOffering@cantor.com


 


		Subject:	VWAP Purchase Notice



		Date:	[●], 202[●]



		Time:	[●]



 


Ladies and Gentlemen:


 


Pursuant to the terms and subject to the conditions contained in the
Company Common Stock Purchase Agreement (the “Agreement”) between MSP Recovery, Inc. (formerly known as Lionheart
Acquisition Corporation II, a Delaware corporation) (the “Company”) and CF Principal Investments LLC, a Delaware
limited liability company (the “Investor”) dated [●], 2022, the Company hereby directs the Investor to
purchase a VWAP Purchase Share Estimate equal to [●] shares of the Company’s common stock, par value $0.0001 per share, which
the Company represents is no greater than the VWAP Purchase Maximum Amount (as defined in the Agreement), at the relevant VWAP Purchase
Price (as defined in the Agreement). The Company represents that all conditions set forth in Section 7.3 of the Agreement have been satisfied.


 


	 	[ ]
	 	 	 
	 	By:	 
	 	Name:	[ ]
	 	Title:	[ ]