Document:

Exhibit 10.3

 

 

ACQUIROR
STOCKHOLDER SUPPORT AGREEMENT

 

This
ACQUIROR STOCKHOLDER SUPPORT AGREEMENT (this “Agreement”), dated as
of March 22, 2021 (the “Effective Date”), is made by and among Chardan Healthcare Acquisition 2 Corp., a Delaware
corporation (“Acquiror”), Renovacor, Inc., a Delaware corporation (the “Company”), and the
undersigned holder of shares of common stock of Acquiror, par value $0.0001 per share (such shares, “Acquiror Common
Stock” and the holders thereof, collectively, the “Acquiror Stockholder”) set forth on Annex A
to this Agreement. Acquiror, the Company and the Acquiror Stockholder shall be referred to herein from time to time collectively
as the “Parties”. Capitalized terms used but not otherwise defined herein shall have the meanings ascribed
to such terms in the Merger Agreement (as defined below).

 

WHEREAS,
Acquiror, the Company and CHAQ2 Merger Sub, Inc., a Delaware corporation (“Merger Sub”), entered into that
certain Merger Agreement, dated as of the date hereof (as it may be amended, restated or otherwise modified from time to time
in accordance with its terms, the “Merger Agreement”);

 

WHEREAS,
Annex A sets forth, as of the Effective Date, the number of shares of Acquiror Common Stock held of record and beneficially
owned by the Acquiror Stockholder; and

 

WHEREAS,
the Merger Agreement contemplates that the Parties will enter into this Agreement concurrently with the execution and delivery
of the Merger Agreement by the parties thereto, pursuant to which, among other things, (a) the Acquiror Stockholder will vote
in favor of approval of the Proposals and (b) the Acquiror Stockholder will agree not to redeem any shares of Acquiror Common
Stock in connection with the Transactions.

 

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

 

1. Agreement
to Vote. The Acquiror Stockholder hereby irrevocably and unconditionally agrees (a) to vote at the Special Meeting or any
other meeting of the Acquiror Stockholders, and in any action by written resolution of the Acquiror Stockholders, in each case,
during which the Proposals are presented to the Acquiror Stockholders for approval, all of the Acquiror Stockholder’s Acquiror
Common Stock (together with any other equity securities of Acquiror that the Acquiror Stockholder holds of record or beneficially,
as of the date of this Agreement, or acquires record or beneficial ownership of after the date hereof, collectively, the “Subject
Acquiror Equity Securities”) (i) in favor of the Proposals and (ii) against, and the undersigned Acquiror Stockholder
shall withhold consent with respect to, any other matter, action or proposal that would reasonably be expected to result in (x)
a breach of any of the Acquiror’s or Merger Sub’s covenants, agreements or obligations under the Merger Agreement
or (y) any of the conditions to the Closing set forth in Sections 9.01 or 9.03 of the Merger Agreement not being satisfied, (b)
if the Special Meeting or any other meeting of the Acquiror Stockholders is held in respect of the matters set forth in clause
(a), to appear at such meeting, in person or by proxy, or otherwise cause all of the Acquiror Stockholder’s Subject Acquiror
Equity Securities to be counted as present thereat for purposes of establishing a quorum and (c) not to redeem, elect to redeem
or tender or submit any of its Subject Acquiror Equity Securities for redemption in connection with the Acquiror Stockholder Approval,
the Merger or any other Transactions or otherwise prior to the termination of this Agreement pursuant to Section 6, and any attempt
to redeem the Subject Acquiror Equity Securities will be void ab initio and of no effect. Prior to any valid termination
of the Merger Agreement, the Acquiror Stockholder shall take, or cause to be taken, all actions and to do, or cause to be done,
all things reasonably necessary under applicable Laws to consummate the Merger and the other Transactions and on the terms and
subject to the conditions set forth therein. The obligations of the Acquiror Stockholder specified in this Section 1 shall apply
whether or not the Merger, any of the Transactions or any action described above is recommend by the Acquiror Board.

 

     

     

    

 

2. Appointment
of Proxy. The Acquiror Stockholder hereby appoints each of Jonas Grossman and Guy Barudin as its true and lawful proxies and
attorneys-in-fact, with full power of substitution, to vote all of its Subject Acquiror Equity Securities in accordance with the
terms of this Agreement. The proxy and power of attorney granted herein shall be deemed to be coupled with an interest, shall
be irrevocable during the term of this Agreement, and shall survive the death, disability, incompetency, bankruptcy, insolvency
or dissolution of the Acquiror Stockholder. Furthermore, the Acquiror Stockholder agrees to, from time to time execute and deliver
such further instruments, ancillary agreements or other documents or take such other actions as may be necessary or advisable
to give effect to, confirm, evidence or effectuate the purposes of the proxy granted by this Section 2. For the avoidance of doubt,
upon the termination of this Agreement, this Section 2 shall be of no further force and effect.

 

3. Transfer
of Shares.

 

a. The
Acquiror Stockholder hereby agrees that it shall not (i) sell, assign, transfer (including by operation of law), place a lien
on, pledge, hypothecate, grant an option to purchase, distribute, dispose of or otherwise encumber any of its Subject Acquiror
Equity Securities or otherwise enter into any contract, option or other arrangement or undertaking to do any of the foregoing
(each, a “Transfer”), (ii) deposit any of its Subject Acquiror Equity Securities into a voting trust or enter
into a voting agreement or arrangement or grant any proxy or power of attorney with respect to any of its Subject Acquiror Equity
Securities (other than as set forth in Section 2 herein) that conflicts with any of the covenants or agreements set forth in this
Agreement or (iii) take any action that could have the effect of preventing or materially delaying the performance of its obligations
hereunder; provided, however, that the foregoing shall not apply to any Transfer (A) to Acquiror’s officers
or directors or affiliates; or (B) by private sales or transfers made in connection with the transactions contemplated by,
and expressly permitted under, the Merger Agreement; provided, that any transferee of any Transfer of the types set forth
in clauses (A) and (B) must enter into a written agreement agreeing to be bound by this Agreement.

 

b. In
furtherance of the foregoing, Acquiror hereby agrees to (i) place a revocable stop order on all Subject Acquiror Equity Securities
subject to Section 3(a), including those which may be covered by a registration statement, and (ii) notify Acquiror’s
transfer agent in writing of such stop order and the restrictions on such Subject Acquiror Equity Securities under Section
3(a) and direct Acquiror’s transfer agent not to process any attempts by any Acquiror Stockholder to Transfer any Subject
Acquiror Equity Securities except in compliance with Section 3(a); for the avoidance of doubt, the obligations of Acquiror
under this Section 3(b) shall be deemed to be satisfied by the existence of any similar stop order and restrictions currently
existing on the Subject Acquiror Equity Securities.

 

4. Other
Covenants.

 

a. The
Acquiror Stockholder hereby agrees to be bound by and subject to (i) Section 8.04 (Confidentiality; Publicity) of the Merger Agreement
to the same extent as such provisions apply to the parties to the Merger Agreement, as if the Acquiror Stockholder is directly
a party thereto, and (ii) Section 7.10 (Exclusivity) and Section 8.01 (Support of Transaction) of the Merger Agreement to the
same extent as such provisions apply to Acquiror, as if the Acquiror Stockholder is directly party thereto.

 

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b. The
Acquiror Stockholder acknowledges and agrees that the Company and Acquiror are entering into the Merger Agreement in reliance
upon the Acquiror Stockholder entering into this Agreement and agreeing to be bound by, and perform, or otherwise comply with,
as applicable, the agreements, covenants and obligations contained in this Agreement and but for the Acquiror Stockholder entering
into this Agreement and agreeing to be bound by, and perform, or otherwise comply with, as applicable, the agreements, covenants
and obligations contained in this Agreement the Company and Acquiror would not have entered into, or agreed to consummate the
transactions contemplated by, the Merger Agreement.

 

5. Representations
and Warranties. The Acquiror Stockholder represents and warrants to the Company as follows: (i) this Agreement has been duly
executed and delivered by the Acquiror Stockholder and, assuming due authorization, execution and delivery by the other parties
to this Agreement, this Agreement constitutes a legally valid and binding obligation of the Acquiror Stockholder, enforceable
against the Acquiror Stockholder in accordance with the terms hereof (except as enforceability may be limited by bankruptcy Laws,
other similar Laws affecting creditors’ rights and general principles of equity affecting the availability of specific performance
and other equitable remedies); (ii) the Acquiror Stockholder has not entered into, and shall not enter into, any agreement that
would restrict, limit or interfere with the performance of the Acquiror Stockholder’s obligations hereunder; (iii) the Acquiror
Stockholder is the record and beneficial owner of all of its Subject Acquiror Equity Securities, and there exist no Liens or any
other limitation or restriction (including, without limitation, any restriction on the right to vote, sell or otherwise dispose
of such securities), other than pursuant to (A) this Agreement, (B) the Acquiror Organizational Documents, (C) the Merger Agreement,
or (D) any applicable securities Laws; (iv) the Acquiror Stockholder is sophisticated in financial matters and is able to evaluate
the risks and benefits of holding its Subject Acquiror Equity Securities; (v) the Acquiror Stockholder, in making the decision
to not redeem its Subject Acquiror Equity Securities, has not relied upon any oral or written representations or assurances from
Acquiror or any of its officers, directors or employees or any other representatives or agents of Acquiror other than as set forth
in this Agreement and the Acquiror Stockholder has had access to all of the filings made by Acquiror with the SEC; (vi) the Acquiror
Stockholder acknowledges that it has had the opportunity to review this Agreement and the transactions contemplated by this Agreement
with the Acquiror Stockholder’s own legal counsel, investment and tax advisors; and (vii) the Acquiror Stockholder is not
relying on any statements or representations of Acquiror or any of its representatives or agents for legal, tax or investment
advice with respect to this Agreement or the transactions contemplated by the Merger Agreement.

 

6. Termination.
This Agreement shall automatically terminate, without any notice or other action by any Party, and be void ab initio upon
the earlier of (a) the Effective Time and (b) the termination of the Merger Agreement in accordance with its terms. Upon termination
of this Agreement as provided in the immediately preceding sentence, none of the Parties shall have any further obligations or
liabilities under, or with respect to, this Agreement. Notwithstanding the foregoing or anything to the contrary in this Agreement,
(i) the termination of this Agreement pursuant to Section 6(b) shall not affect any liability on the part of any Party
for a Willful Breach of any covenant or agreement set forth in this Agreement prior to such termination or Fraud, (ii) Sections
4(b) and 11 (solely to the extent related to the foregoing Section 4(b)) shall each survive the termination
of this Agreement pursuant to Section 6(a) and (iii) Sections 7, 9, 10 and 11 (solely to the
extent related to the following Sections 7 or 10) shall survive any termination of this Agreement. For purposes
of this Section 6, (x) “Willful Breach” means a material breach that is a consequence of an act undertaken
or a failure to act by the breaching Party with the knowledge that the taking of such act or such failure to act would, or would
reasonably be expected to, constitute or result in a breach of this Agreement and (y) “Fraud” means an act or omission
by a Party, and requires: (i) a false or incorrect representation or warranty expressly set forth in this Agreement, (ii) with
actual knowledge (as opposed to constructive, imputed or implied knowledge) by the Party making such representation or warranty
that such representation or warranty expressly set forth in this Agreement is false or incorrect, (iii) an intention to deceive
another Party, to induce him, her or it to enter into this Agreement, (iv) another Party, in justifiable or reasonable reliance
upon such false or incorrect representation or warranty expressly set forth in this Agreement, causing such Party to enter into
this Agreement, and (v) causing such Party to suffer damage by reason of such reliance.

 

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7. No
Recourse. Except for claims pursuant to the Merger Agreement or any other Ancillary Agreement by any party(ies) thereto against
any other party(ies) thereto, each Party agrees that (a) this Agreement may only be enforced against, and any action for breach
of this Agreement may only be made against, the Parties, and no claims of any nature whatsoever (whether in tort, contract or
otherwise) arising under or relating to this Agreement, the negotiation hereof or its subject matter, or the transactions contemplated
hereby shall be asserted against any Affiliate of the Company or any Affiliate of Acquiror (other than the Acquiror Stockholder,
on the terms and subject to the conditions set forth herein), and (b) none of the Affiliates of the Company or the Affiliates
of Acquiror (other than the Acquiror Stockholder, on the terms and subject to the conditions set forth herein) shall have any
liability arising out of or relating to this Agreement, the negotiation hereof or its subject matter, or the transactions contemplated
hereby, including with respect to any claim (whether in tort, contract or otherwise) for breach of this Agreement or in respect
of any written or oral representations made or alleged to be made in connection herewith, as expressly provided herein, or for
any actual or alleged inaccuracies, misstatements or omissions with respect to any information or materials of any kind furnished
in connection with this Agreement, the negotiation hereof or the transactions contemplated hereby.

 

8. Waiver.

 

a. The
Acquiror Stockholder (i) acknowledges that Acquiror may possess or have access to material non-public information which has not
been communicated to Acquiror Stockholder; (ii) hereby waives any and all claims, whether at law, in equity or otherwise, that
he, she, or it may now have or may hereafter acquire, whether presently known or unknown, against Acquiror or any of its officers,
directors, employees, agents, affiliates, subsidiaries, successors or assigns relating to any failure to disclose any non-public
information in connection with the transactions contemplated by this Agreement, including without limitation, any such claims
arising under the securities or other laws, rules and regulations, and (iii) is aware that Acquiror is relying on the foregoing
acknowledgement and waiver in clauses (i) and (ii) above, respectively, in connection with the transactions contemplated by this
Agreement.

 

b. The
Acquiror Stockholder has read the Final Prospectus of Acquiror, dated April 23, 2020 (the “Acquiror Prospectus”)
and understands that Acquiror has established a “trust account,” initially in an amount of at least $85,000,000 for
the benefit of the “public stockholders” and the underwriters of Acquiror’s initial public offering and that,
except for (i) interest earned on the trust account that may be released to Acquiror to pay any taxes it incurs, and (ii) interest
earned by the trust account that may be released to Acquiror from time to time to fund Acquiror’s working capital and general
corporate requirements, proceeds in the trust account will not be released until (a) the consummation of a Business Combination
(as defined in the Acquiror Prospectus), or (b) the dissolution and liquidation of Acquiror if it is unable to consummate a Business
Combination within the allotted time. For and in consideration of Acquiror entering into this Agreement with the Acquiror Stockholder,
the Acquiror Stockholder hereby agrees that it does not have any right, title, interest or claim of any kind in or to any monies
in the trust account (other than in connection with redemption rights or the dissolution of Acquiror) (“Claim”)
and hereby waives any Claim it may have in the future as a result of, or arising out of, any negotiations, contracts or agreements
with Acquiror and will not seek recourse against the trust account for any reason whatsoever, other than in connection with redemption
rights or the dissolution of Acquiror.

 

9. Fiduciary
Duties. Notwithstanding anything in this Agreement to the contrary, (a) the Acquiror Stockholder makes no agreement or understanding
herein in any capacity other than in its capacity as a record holder and beneficial owner of the Subject Acquiror Equity Securities
and (b) nothing herein will be construed to limit or affect any action or inaction by any representative of the Sponsor in its
capacity as a member of the board of directors (or other similar governing body) of Acquiror or any of its Affiliates or as an
officer, employee or fiduciary of Acquiror or any of its Affiliates, in each case, acting in such person’s capacity as a
director, officer, employee or fiduciary of Acquiror or such Affiliate.

 

10. No
Third Party Beneficiaries. This Agreement shall be for the sole benefit of the Parties and their respective successors and
permitted assigns and is not intended, nor shall be construed, to give any Person, other than the Parties and their respective
successors and assigns, any legal or equitable right, benefit or remedy of any nature whatsoever by reason this Agreement. Nothing
in this Agreement, expressed or implied, is intended to or shall constitute the Parties, partners or participants in a joint venture.

 

11. Incorporation
by Reference. Sections 1.02 (Construction) 11.03 (Assignment), 11.06 (Governing Law), 11.07 (Captions; Counterparts), 11.09
(Entire Agreement), 11.10 (Amendments), 11.11 (Severability), 11.12 (Jurisdiction; Waiver of Jury Trial), 11.13 (Enforcement)
and 11.15 (Non-Survival of Representations, Warranties and Covenants) of the Merger Agreement are incorporated herein by reference
and shall apply to this Agreement mutatis mutandis.

 

[signature
page follows]

 

    4

     

    

 

IN
WITNESS WHEREOF, each of the Parties has caused this Agreement to be duly executed on its behalf as of the day and year first
above written.

 

	 	CHARDAN HEALTHCARE ACQUISITION 2 CORP.
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

[Signature
Page to Acquiror Stockholder Voting Agreement]

 

     

     

    

 

	 	RENOVACOR, INC.
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

[Signature
Page to Acquiror Stockholder Voting Agreement]

 

     

     

    

 

	 	[ACQUIROR STOCKHOLDER]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

[Signature
Page to Acquiror Stockholder Voting Agreement]

 

     

     

    

 

ANNEX
A

 

	Acquiror Stockholder	 	 	Shares of Acquiror Common Stock Held of Record	 
	[ ● ]	 	 	[ ● ]Exhibit 10.4

 

 

FORM
OF REGISTRATION RIGHTS AGREEMENT

 

THIS
REGISTRATION RIGHTS AGREEMENT (this “Agreement”), dated as of [●], 2021 (the “Effective Date”),
is made and entered into by and among Renovacor, Inc., a Delaware corporation (f/k/a Chardan Healthcare Acquisition 2 Corp.) (the
“Company”), and each of the stockholders set forth on the signature pages hereto (each, a “Stockholder”
collectively, the “Stockholders”).

 

WHEREAS,
on the Effective Date, certain Stockholders identified as the “Initial Stockholders” on Exhibit A hereto (the
“Initial Stockholders”) collectively hold 2,155,661 shares of Common Stock (the “Initial Shares”)
and warrants exercisable for 3,500,000 shares of Common Stock (the “Initial Warrants”), which were issued to
the Initial Stockholders prior to the consummation of the Company’s initial public offering;

 

WHEREAS,
on the Effective Date, certain of the Stockholders identified as the “Renovacor Stockholders” on Exhibit A
hereto (the “Renovacor Stockholders”) have acquired an aggregate of 6,500,000 shares of Common Stock (together
with any shares of Common Stock that may be issued to the Renovacor Stockholders as Earnout Consideration (as defined in the Merger
Agreement), if any, collectively, the “Merger Shares”) in connection with the consummation of the transactions
contemplated by that certain Agreement and Plan of Merger (the “Merger Agreement”), dated as of March 22, 2021,
by and among the Company, CHAQ2 Merger Sub, Inc., a Delaware corporation and wholly owned subsidiary of the Company (“Merger
Sub”), and [●] (f/k/a Renovacor, Inc.) (the “Acquired Company”), pursuant to which Merger Sub
merged with and into the Acquired Company (the “Merger”), with the Acquired Company surviving the Merger as
a wholly owned subsidiary of the Company; and

 

WHEREAS,
pursuant to the terms of the Merger Agreement and the Subscription Agreements, the Company has agreed to register (i) the Initial
Shares and all shares of Common Stock issuable pursuant to the exercise of the Initial Warrants, (ii) the Merger Shares and (iii)
the Investment Shares for resale under the 1934 Act, and the Stockholders and the Company desire to enter into this Agreement
to provide the Stockholders with certain rights relating to the registration of such securities from time to time after the Effective
Date.

 

NOW,
THEREFORE, IN CONSIDERATION of the mutual covenants and agreements set forth herein, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree
as follows:

 

1.
CERTAIN DEFINITIONS. As used in this Agreement, the following capitalized terms used herein shall have the following meanings:

 

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

 

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

 

“Acquired
Company” has the meaning set forth in the Recitals.

 

“Agreement”
has the meaning set forth in the Preamble.

 

“Allowed
Delay” has the meaning set forth in Section 2(c)(ii).

 

“Availability
Date” has the meaning set forth in Section 3(i).

 

     

     

    

 

“Block
Trade” means an offering and/or sale of Registrable Securities by any Stockholder on a block trade or underwritten basis
(whether firm commitment or otherwise) without substantial marketing efforts prior to pricing, including, without limitation,
a same day trade, overnight trade or similar transaction.

 

“Business
Day” means any day other than Saturday, Sunday or other day on which commercial banks in the City of New York are authorized
or required by law to remain closed.

 

“Common
Stock” means the Company’s common stock, par value $0.0001 per share.

 

“Company”
has the meaning set forth in the Preamble.

 

“Cut
Back Shares” has the meaning set forth in Section 2(d).

 

“Demand
Registration” has the meaning set forth in Section 2(e)(i).

 

“Demanding
Holders” has the meaning set forth in Section 2(e)(i).

 

“Demand
Requesting Holder” has the meaning set forth in Section 2(e)(i).

 

“Effective
Date” has the meaning set forth in the Preamble.

 

“Effectiveness
Period” has the meaning set forth in Section 3(a).

 

“Filing
Deadline” has the meaning set forth in Section 2(a)(i).

 

“Indemnified
Party” has the meaning set forth in Section 5(c).

 

“Indemnifying
Party” has the meaning set forth in Section 5(c).

 

“Initial
Registration Statement” has the meaning set forth in Section 2(a)(i).

 

“Initial
Shares” has the meaning set forth in the Recitals.

 

“Initial
Stockholders” has the meaning set forth in the Recitals.

 

“Investment
Shares” has the meaning set forth in the Recitals.

 

“Initial
Warrants” has the meaning set forth in the Recitals.

 

“Losses”
has the meaning set forth in Section 5(a).

 

“Maximum
Number of Shares” has the meaning set forth in Section 2(e)(v).

 

“Merger”
has the meaning set forth in the Recitals.

 

“Merger
Agreement” has the meaning set forth in the Recitals.

 

“Merger
Shares” has the meaning set forth in the Recitals.

 

“Merger
Sub” has the meaning set forth in the Recitals.

 

    -2-

     

    

 

“Misstatement”
has the meaning set forth in Section 3(h).

 

“Piggy-Back
Registration” has the meaning set forth in Section 2(f)(i).

 

“Prospectus”
means (i) the prospectus included in any Registration Statement, as amended or supplemented by any
prospectus supplement, with respect to the terms of the offering of any portion of the Registrable Securities covered by such
Registration Statement and by all other amendments and supplements to the prospectus, including post-effective amendments and
all material incorporated by reference in such prospectus, and (ii) any “free writing prospectus” as defined in Rule
405 under the 1933 Act.

 

“Register,”
“registered” and “registration” refer to a registration made by preparing and filing a Registration
Statement or similar document in compliance with the 1933 Act (as defined below), and the declaration or ordering of effectiveness
of such Registration Statement or document.

 

“Registrable
Securities” means (i) the Initial Shares, the Merger Shares and the Investment Shares and
(ii) any shares of Common Stock that are issued pursuant to the exercise of the Initial Warrants and any other securities issued
or issuable with respect to or in exchange for Initial Shares, Merger Shares or Investment Shares; provided, that, such
securities shall cease to be Registrable Securities when (i) a Registration Statement with respect to the sale of such securities
shall have become effective under the Securities Act and such securities shall have been sold, transferred, disposed of or exchanged
in accordance with such Registration Statement; (ii) such securities shall have been otherwise transferred, new certificates or
book entry positions for such securities not bearing a legend restricting further transfer shall have been delivered by the Company
and subsequent public distribution of such securities shall not require registration under the Securities Act; (iii) such securities
shall have ceased to be outstanding; (iv) such securities have been sold to, or through, a broker, dealer or underwriter in a
public distribution or other public securities transaction; or (v) with respect to a Stockholder, when all such securities held
by such Stockholder could be sold without restriction on volume or manner of sale in any three-month period without registration
under Rule 144 promulgated under the Securities Act (or any successor rule promulgated thereafter by the Commission).

 

“Registration
Statement” means any registration statement filed by the Company under the 1933 Act and the rules and regulations promulgated
thereunder that covers the resale of any of the Registrable Securities pursuant to the provisions of this Agreement, amendments
and supplements to such Registration Statement, including post-effective amendments, and all exhibits to and all material incorporated
by reference in such Registration Statement.

 

“Renovacor
Stockholders” has the meaning set forth in the Recitals.

 

“Required
Stockholders” means the Stockholders holding a majority of the Registrable Securities outstanding from time to time.

 

“Restriction
Termination Date” has the meaning set forth in Section 2(d).

 

“Rule
144” means Rule 144 promulgated by the SEC pursuant to the 1933 Act, as such rule may be amended from time to time,
or any similar rule or regulation hereafter adopted by the SEC having substantially the same effect as such rule.

 

“Rule
415” has the meaning set forth in Section 2(a)(i).

 

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

 

    -3-

     

    

 

“SEC
Restrictions” has the meaning set forth in Section 2(d).

 

“Selling
Stockholder” means any Stockholder electing to sell any of its Registrable Securities in a Registration.

 

“Selling
Stockholder Questionnaire” means a questionnaire in the form attached as Exhibit B hereto, or such other form
of questionnaire as may reasonably be adopted by the Company from time to time.

 

“Stockholder”
has the meaning set forth in the Preamble.

 

“Stockholder
Indemnified Party” has the meaning set forth in Section 5(a).

 

“Subscription
Agreements” has the meaning set forth in the Recitals.

 

“Trading
Day” means a day on which the Common Stock is listed or quoted and traded on the
NYSE American. 

 

“Underwriter”
means a securities dealer who purchases any Registrable Securities as principal in an Underwritten Offering and not as part of
such dealer’s market-making activities.

 

“Underwritten
Offering” has the meaning set forth in Section 2(e)(iii).

 

“Underwritten
Shelf Takedown” has the meaning set forth in Section 2(e)(iv).

 

2.
REGISTRATION RIGHTS.

 

(a)
Registration Statements.

 

(i)
Promptly following the Effective Date but no later than sixty (60) days after the Effective Date (the “Filing Deadline”),
the Company shall prepare and file with the SEC a Registration Statement covering the resale of all of the Registrable Securities
for an offering to be made on a continuous basis pursuant to Rule 415 promulgated under the 1933 Act
(“Rule 415”) or, if Rule 415 is not available for offers and sales of the Registrable
Securities, by such other means of distribution of Registrable Securities as the Stockholders may reasonably specify (the “Initial
Registration Statement”). The Initial Registration Statement shall be on Form S-1 and shall contain (except if otherwise
required pursuant to written comments received from the SEC upon review of such Registration Statement) a “Plan of Distribution”
substantially in the form attached hereto as Exhibit B (which may be modified to respond to comments, if any, provided
by the SEC); provided, however, that no Stockholder shall be named as an Underwriter in such Registration Statement
without the Stockholder’s prior written consent. The Company shall use commercially reasonable efforts to convert or replace
the Initial Registration Statement with a Registration Statement on Form S-3 promptly following confirmation that the Company
becomes eligible to use Form S-3 to register the Registrable Securities. 

 

(ii)
Such Registration Statement also shall cover, to the extent allowable under the 1933 Act and the rules promulgated thereunder
(including Rule 416), such indeterminate number of additional shares of Common Stock resulting from
stock splits, stock combinations, stock dividends or similar transactions with respect to the Registrable Securities. Such Registration
Statement (and each amendment or supplement thereto, and each request for acceleration of effectiveness thereof) shall be provided
in accordance with Section 3(c) to the Stockholders prior to its filing or other submission.

 

    -4-

     

    

 

(b)
Expenses. The Company will pay all expenses associated with each Registration Statement, including filing and printing
fees, the fees and expenses of the Company’s counsel and accounting fees and expenses, costs associated with clearing the
Registrable Securities for sale under applicable state securities laws and listing fees, but excluding discounts, commissions,
fees of underwriters, selling brokers, dealer managers or similar securities industry professionals with respect to the Registrable
Securities being sold.

 

(c)
Effectiveness.

 

(i)
The Company shall use commercially reasonable efforts to have each Registration Statement declared effective as soon as practicable
after the filing. The Company shall notify the Stockholders as promptly as practicable after the Registration Statement is declared
effective and shall simultaneously or prior thereto file with the SEC pursuant to Rule 424(b) promulgated under the 1933 Act,
and provide the Stockholders with copies of, any related Prospectus to be used in connection with the sale or other disposition
of the securities covered thereby.

 

(ii)
For not more than ninety (90) consecutive days or for a total of not more than one-hundred twenty
(120) days in any twelve (12) month period, the Company may suspend the use of any Prospectus included in any Registration Statement
contemplated by this Section 2 in the event that the Company determines in good faith that such suspension is necessary
to (A) delay the disclosure of material non-public information concerning the Company, the disclosure
of which at the time is not, in the good faith opinion of the Company, in the best interests of the Company or (B)
amend or supplement the affected Registration Statement or the related Prospectus so that such Registration Statement or Prospectus
shall not include any Misstatement (an “Allowed Delay”); provided, that the Company shall promptly (1)
notify each Stockholder in writing of the commencement of an Allowed Delay, but shall not (without the prior written consent of
a Stockholder) disclose to such Stockholder any material non-public information giving rise to an Allowed Delay, (2)
advise the Stockholders in writing to cease all sales under such Registration Statement until the end of the Allowed Delay (but
not, for the avoidance of doubt, any sale pursuant to Rule 144 or other applicable exemption under the 1933 Act) and (3) use commercially
reasonable efforts to terminate an Allowed Delay as promptly as practicable.

 

(d)
Rule 415; Cutback. If at any time the SEC takes the position that the offering of some or all
of the Registrable Securities in a Registration Statement is not eligible to be made on a delayed or continuous basis under the
provisions of Rule 415 or requires any Stockholder to be named as an Underwriter, the Company shall
use commercially reasonable efforts to persuade the SEC that the offering contemplated by such Registration Statement is a valid
secondary offering and not an offering “by or on behalf of the issuer” as defined in Rule 415
and that none of the Stockholders is an Underwriter. The Stockholders shall have the right to select one legal counsel to review
and oversee any registration or matters pursuant to this Section 2(d), including participation in any meetings or discussions
with the SEC regarding the SEC’s position and to comment on any written submission made to the SEC with respect thereto,
which counsel shall be designated by the Required Holders. No such written submission with respect to this matter shall be made
to the SEC to which such counsel so designated by the Required Holders reasonably objects. In the event that, despite the Company’s
commercially reasonable efforts and compliance with the terms of this Section 2(d), the SEC refuses to alter its position,
the Company shall (i) remove from such Registration Statement such portion of the Registrable Securities
(the “Cut Back Shares”) and/or (ii) agree to such restrictions and limitations on the registration and resale
of the Registrable Securities as the SEC may require to assure the Company’s compliance with the requirements of Rule 415
(collectively, the “SEC Restrictions”); provided, however, that the Company shall not agree to
name any Stockholder as an Underwriter in such Registration Statement without the prior written consent of such Stockholder. Any
cut-back imposed on the Stockholders pursuant to this Section 2(d) shall be allocated among the Stockholders on a pro rata
basis and shall be applied first to any of the Registrable Securities of such Stockholder as such Stockholder shall designate,
unless the SEC Restrictions otherwise require or provide or the Required Stockholders otherwise agree. From and after the first
date on which the Company is able to effect the registration of such Cut Back Shares (such date, the “Restriction Termination
Date”), all of the provisions of this Section 2 (including the Company’s obligations with respect to the
filing of a Registration Statement and its obligations to use commercially reasonable efforts to have such Registration Statement
declared effective within the time periods set forth herein) shall again be applicable to such Cut Back Shares; provided,
however, that (i) the Filing Deadline for such Registration Statement including such Cut Back
Shares shall be ten (10) Business Days after the Restriction Termination Date, and (ii) the date by which the Company is required
to obtain effectiveness with respect to such Cut Back Shares under Section 2(c) shall be the 30th day immediately after
the Restriction Termination Date (or the 90th day if the SEC reviews such Registration Statement).

 

    -5-

     

    

 

(e)
Demand Registration.

 

(i)
Request for Registration. At any time and from time to time when there is no valid Registration Statement in effect, the
Required Stockholders (the “Demanding Holders”) may make a written demand for registration under the 1933 Act
of all or part of their Registrable Securities (a “Demand Registration”). Any demand for a Demand Registration
shall specify the number of Registrable Securities proposed to be sold and the intended method(s) of distribution thereof. The
Company will within twenty (20) days of the Company’s receipt of the Demand Registration notify all holders of Registrable
Securities of the demand, and each holder of Registrable Securities who wishes to include all or a portion of such holder’s
Registrable Securities in the Demand Registration (each, a “Demand Requesting Holder”) shall so notify the
Company within five (5) days after the receipt by the holder of the notice from the Company. Upon any such request, the Demanding
Holders and the Demand Requesting Holders shall be entitled to have their Registrable Securities included in the Demand Registration,
subject to Section 2(e)(v) and Section 2(d), to be effected by the Company as soon as reasonably practicable, but in no event
later than sixty (60) days after receipt of such Demand Registration. The Company shall not be obligated to effect more than an
aggregate of two (2) Demand Registrations under this Section 2(e).

 

(ii)
Effective Registration. A Registration will not count as a Demand Registration until the Registration Statement filed with
the Commission with respect to such Demand Registration has been declared effective and the Company has complied with all of its
obligations under this Agreement with respect thereto; provided, however, that if, after such Registration Statement
has been declared effective, the offering of Registrable Securities pursuant to a Demand Registration is interfered with by any
stop order or injunction of the Commission or any other governmental agency or court, the Registration Statement with respect
to such Demand Registration will be deemed not to have been declared effective, unless and until (a) such stop order or injunction
is removed, rescinded or otherwise terminated, and (b) a majority-in-interest of the Demanding Holders who initiated such Demand
Registration thereafter affirmatively elect to continue the offering and notify the Company thereof in writing, but in no event
later than five (5) days of such election; provided, further, that the Company shall not be obligated or required to file
another Registration Statement until the Registration Statement that has been previously filed with respect to a Registration
pursuant to a Demand Registration becomes effective or is subsequently terminated.

 

    -6-

     

    

 

(iii)
Underwritten Offering. If a majority-in-interest of the Demanding Holders who initiate a Demand Registration so elect and
such holders so advise the Company as part of their written demand for a Demand Registration, the offering of such Registrable
Securities pursuant to such Demand Registration shall be in the form of an underwritten offering (which, for the avoidance of
doubt, may be an underwritten Block Trade) (an “Underwritten Offering”); provided that the Company
shall only be obligated to effect an Underwritten Offering if such Underwritten Offering shall include Registrable Securities
proposed to be sold by the Demanding Holders, either individually or together with other Demanding Holders, with a total offering
price reasonably expected to exceed, in the aggregate, $25 million. In such event, the right of any holder to include its Registrable
Securities in such Registration shall be conditioned upon such holder’s participation in such Underwritten Offering and
the inclusion of such holder’s Registrable Securities in the Underwritten Offering to the extent provided herein. All Demanding
Holders proposing to distribute their securities through such Underwritten Offering shall enter into an underwriting agreement
in reasonable and customary form with the Underwriter or Underwriters selected for such Underwritten Offering by a majority-in-interest
of the holders initiating the Demand Registration.

 

(iv)
Requests for Underwritten Shelf Takedowns. Subject to Section 2(c), at any time and from time to time when a valid Registration
Statement is then in effect, the Demanding Holders may request to sell all or any portion of their Registrable Securities in an
Underwritten Offering that is registered pursuant to the applicable Registration Statement (each, an “Underwritten Shelf
Takedown”); provided that the Company shall only be obligated to effect an Underwritten Shelf Takedown if
such Underwritten Shelf Takedown shall include Registrable Securities proposed to be sold by the Demanding Holders, either individually
or together with other Demanding Holders, with a total offering price reasonably expected to exceed, in the aggregate, $25 million,
but in no event less than $10 million in aggregate gross proceeds. All requests for Underwritten Shelf Takedowns shall be made
by giving written notice to the Company, which shall specify the approximate number of Registrable Securities proposed to be sold
in the Underwritten Shelf Takedown. The Company shall have the right to select the Underwriters for such Underwritten Offering
(which shall consist of one or more reputable nationally recognized investment banks). The Company shall not be obligated to effect
more than an aggregate of one (1) Underwritten Shelf Take-Down in any twelve (12) month period. Notwithstanding anything to the
contrary in this Agreement, the Company may effect any Underwritten Offering pursuant to any then effective Registration Statement,
including a Form S-3, that is then available for such Underwritten Offering.

 

(v)
Reduction of Offering. If the managing Underwriter or Underwriters for a Demand Registration that is to be an Underwritten
Offering, in good faith, advises the Company, the Demanding Holders and the Demand Requesting Holders that the dollar amount or
number of shares of Registrable Securities which the Demanding Holders and Demand Requesting Holders (if any) desire to sell,
taken together with all other shares of Common Stock or other securities which the Company desires to sell and the shares of Common
Stock, if any, as to which Underwritten Offering has been requested pursuant to registration rights held by other stockholders
of the Company who desire to sell, exceeds the maximum dollar amount or maximum number of shares that can be sold in such Underwritten
Offering without adversely affecting the proposed offering price, the timing, the distribution method, or the probability of success
of such offering (such maximum dollar amount or maximum number of shares, as applicable, the “Maximum Number of Shares”),
then the Company shall include in such Underwritten Offering: (i) the Registrable Securities as to which Demand Registration or
Underwritten Shelf Takedown has been requested by the Demanding Holders and Demand Requesting Holders (if any) on a pro rata basis
that can be sold without exceeding the Maximum Number of Shares; (ii) to the extent that the Maximum Number of Shares has not
been reached under the foregoing clause (i), the shares of Common Stock or other securities that the Company desires to sell that
can be sold without exceeding the Maximum Number of Shares and (iii) to the extent that the Maximum Number of Shares have not
been reached under the foregoing clauses (i) and (ii), the shares of Common Stock or other securities for the account of other
persons that the Company is obligated to Register pursuant to written contractual arrangements with such persons and that can
be sold without exceeding the Maximum Number of Shares.

 

    -7-

     

    

 

(f)
Piggy-Back Registration.

 

(i)
Piggy-Back Rights. If at any time from time to time when there is no valid Registration Statement in effect, the Company
proposes to file a Registration Statement under the 1933 Act with respect to an offering of equity securities, or securities or
other obligations exercisable or exchangeable for, or convertible into, equity securities, by the Company for its own account
or for stockholders of the Company for their account (or by the Company and by stockholders of the Company including, without
limitation, pursuant to Section 2(e)), other than a Registration Statement (i) filed in connection with any employee stock option
or other benefit plan, (ii) for an exchange offer or offering of securities solely to the Company’s existing stockholders,
(iii) for an offering solely of debt that is convertible into equity securities of the Company or (iv) for a dividend reinvestment
plan, then the Company shall (x) give written notice of such proposed filing to the holders of Registrable Securities as soon
as practicable but in no event less than five (5) days before the anticipated filing date, which notice shall describe the amount
and type of securities to be included in such offering, the intended method(s) of distribution, and the name of the proposed managing
Underwriter or Underwriters, if any, of the offering, and (y) offer to the holders of Registrable Securities in such notice the
opportunity to Register the sale of such number of shares of Registrable Securities as such holders may request in writing within
five (5) days following receipt of such notice (a “Piggy-Back Registration”). The Company shall, in good faith,
cause such Registrable Securities to be included in such Registration and shall use its commercially reasonable efforts to cause
the managing Underwriter or Underwriters of a proposed Underwritten Offering to permit the Registrable Securities requested to
be included in a Piggy-Back Registration on the same terms and conditions as any similar securities of the Company and to permit
the sale or other disposition of such Registrable Securities in accordance with the intended method(s) of distribution thereof.
All holders of Registrable Securities proposing to distribute their securities through a Piggy-Back Registration that involves
an Underwriter or Underwriters shall enter into an underwriting agreement in reasonable and customary form with the Underwriter
or Underwriters selected for such Piggy-Back Registration; provided, that no Stockholder including Registrable Securities
in any Underwritten Offering shall be required to make any representations or warranties to the Company or the Underwriters, other
than representations and warranties regarding such Stockholder or such Stockholder’s ownership of its Registrable Securities
to be sold in the offering or to undertake any indemnification obligations to the Company or the Underwriters with respect thereto
except to the extent expressly set forth in Section 5(b) hereof.

 

(ii)
Reduction of Offering. If the managing Underwriter or Underwriters for a Piggy-Back Registration that is to be an Underwritten
Offering advises the Company and the Holders of Registrable Securities that the dollar amount or number of shares of Common Stock
which the Company desires to sell, taken together with shares of Common Stock, if any, as to which such Underwritten Offering
has been demanded pursuant to separate written contractual arrangements with persons or entities other than the Holders of Registrable
Securities hereunder, the Registrable Securities as to which such Underwritten Offering has been requested under this Section
2(f), and the shares of Common Stock, if any, as to which such Underwritten Offering has been requested pursuant to the written
contractual piggy-back registration rights of other stockholders of the Company, exceeds the Maximum Number of Shares, then the
Company shall include in any such Underwritten Offering:

 

(1)
If the Registration is undertaken for the Company’s account: (A) the shares of Common Stock or other securities that the
Company desires to sell for its own account that can be sold without exceeding the Maximum Number of Shares; (B) to the extent
that the Maximum Number of Shares has not been reached under the foregoing clause (A), the shares of Common Stock or other securities,
if any, comprised of Registrable Securities, as to which Registration has been requested pursuant to the applicable written contractual
Piggy-Back Registration rights of the Stockholders pursuant to Section 2(f)(i), on a pro rata basis, that can be sold without
exceeding the Maximum Number of Shares; and (C) to the extent that the Maximum Number of Shares has not been reached under the
foregoing clauses (A), (B) and (C), the shares of Common Stock or other securities for the account of other persons that the Company
is obligated to Register pursuant to written contractual piggy-back registration rights with such persons and that can be sold
without exceeding the Maximum Number of Shares; and

 

    -8-

     

    

 

(2)
If the Registration is a “demand” registration undertaken at the demand of persons or entities other than the holders
of Registrable Securities, (A) the shares of Common Stock or other securities for the account of the demanding persons that can
be sold without exceeding the Maximum Number of Shares; (B) to the extent that the Maximum Number of Shares has not been reached
under the foregoing clause (A), the shares of Common Stock or other securities, if any, comprised of Registrable Securities, as
to which Registration has been requested pursuant to the applicable written contractual Piggy-Back Registration rights of Holders
under Section 2(f)(i), on a pro rata basis, that can be sold without exceeding the Maximum Number of Shares; (C) to the extent
that the Maximum Number of Shares has not been reached under the foregoing clauses (A) and (B), the shares of Common Stock or
other securities that the Company desires to sell for its own account that can be sold without exceeding the Maximum Number of
Shares; and (D) to the extent that the Maximum Number of Shares has not been reached under the foregoing clauses (A), (B) and
(C), the shares of Common Stock or other securities for the account of other persons that the Company is obligated to Register
pursuant to written contractual arrangements with such persons, that can be sold without exceeding the Maximum Number of Shares.

 

(iii)
Unlimited Piggy-Back Registration Rights. For purposes of clarity, any Registration effected pursuant to this Section 2(f)
shall not be counted as a Registration pursuant to a Demand Registration effected under Section 2(e) hereof.

 

3.
COMPANY OBLIGATIONS. The Company will use commercially reasonable efforts to effect the registration of the Registrable
Securities in accordance with the terms hereof, and pursuant thereto the Company will, as expeditiously as possible:

 

(a)
use commercially reasonable efforts to cause such Registration Statement to become effective and to remain continuously effective
for a period that will terminate upon the date on which all Registrable Securities covered by such Registration Statement may
be sold without restriction or limitation pursuant to Rule 144 and without the requirement to be in
compliance with Rule 144(c)(1) during any ninety (90) day period (the “Effectiveness Period”) and advise the
Stockholders promptly in writing when the Effectiveness Period has expired;

 

(b)
prepare and file with the SEC such amendments and post-effective amendments to such Registration Statement and the related Prospectus
as may be necessary to keep such Registration Statement effective for the Effectiveness Period and to comply with the provisions
of the 1933 Act and the 1934 Act with respect to the distribution of all of the Registrable Securities covered thereby;

 

(c)
provide copies to and permit the Stockholders to review each Registration Statement and all amendments and supplements thereto
not less than five (5) Trading Days prior to the filing of each Registration Statement and not less
than one (1) Trading Day prior to the filing of any related Prospectus or any amendment or supplement
thereto (except for Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K and any similar
or successor reports) and provide the Stockholders a reasonable opportunity to comment thereon, and the Company shall consider
such comments in good faith before filing any Registration Statement or amendment or supplement thereto;

 

(d)
furnish to each Stockholder whose Registrable Securities are included in any Registration Statement (i)
promptly after the same is prepared and filed with the SEC, if requested by the Stockholder, one (1)
copy of any Registration Statement and any amendment thereto (provided, that the Company shall have no obligation to provide
any document pursuant to this clause that is available on the SEC’s EDGAR system), each preliminary prospectus and Prospectus
and each amendment or supplement thereto, and (ii) such number of copies of a Prospectus, including a preliminary prospectus,
and all amendments and supplements thereto and such other documents as each Stockholder may reasonably request in order to facilitate
the disposition of the Registrable Securities owned by such Stockholder that are covered by such Registration Statement;

 

    -9-

     

    

 

(e)
use commercially reasonable efforts to (i) prevent the issuance of any stop order or other suspension
of effectiveness and (ii) if such order is issued, obtain the withdrawal of any such order at the earliest practical moment;

 

(f)
prior to any public offering of Registrable Securities, use commercially reasonable efforts to register or qualify or cooperate
with the Stockholders and their counsel in connection with the registration or qualification of such Registrable Securities for
the offer and sale under the securities or blue sky laws of such jurisdictions requested by the Stockholders and do any and all
other commercially reasonable acts or things necessary or advisable to enable the distribution in such jurisdictions of the Registrable
Securities covered by the Registration Statement; provided, however, that the Company shall not be required in connection
therewith or as a condition thereto to (i) qualify to do business in any jurisdiction where it would
not otherwise be required to qualify but for this Section 3(f), (ii) subject itself to general taxation in any jurisdiction
where it would not otherwise be so subject but for this Section 3(f), or (iii) file a general consent to service of process
in any such jurisdiction;

 

(g)
use commercially reasonable efforts to cause all Registrable Securities covered by a Registration Statement to be listed on each
securities exchange or other market on which similar securities issued by the Company are then listed or quoted;

 

(h)
promptly notify the Stockholders, at any time prior to the end of the Effectiveness Period, upon discovery that, or upon the happening
of any event as a result of which, the Prospectus includes an untrue statement of a material fact or omits to state any material
fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then
existing (a “Misstatement”), and promptly prepare, file with the SEC and furnish to such holder a supplement
to or an amendment of such Prospectus as may be necessary so that such Prospectus shall not include such Misstatement; and

 

(i)
otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the SEC under the 1933 Act
and the 1934 Act, including, without limitation, Rule 172 under the 1933 Act, file any final Prospectus,
including any supplement or amendment thereof, with the SEC pursuant to Rule 424 under the 1933 Act,
promptly inform the Stockholders in writing if, at any time during the Effectiveness Period, the Company does not satisfy the
conditions specified in Rule 172 and, as a result thereof, the Stockholders are required to deliver
a Prospectus in connection with any disposition of Registrable Securities and take such other actions as may be reasonably necessary
to facilitate the registration of the Registrable Securities hereunder; and make available to its security holders, as soon as
reasonably practicable, but not later than the Availability Date (as defined below), an earnings statement covering a period of
at least twelve (12) months, beginning after the effective date of each Registration Statement, which earnings statement shall
satisfy the provisions of Section 11(a) of the 1933 Act, including Rule 158
promulgated thereunder (for the purpose of this Section 3(i), “Availability Date” means the 45th day
following the end of the fourth fiscal quarter that includes the effective date of such Registration Statement, except that, if
such fourth fiscal quarter is the last quarter of the Company’s fiscal year, “Availability Date” means
the 90th day after the end of such fourth fiscal quarter). 

 

    -10-

     

    

 

With
a view to making available to the Stockholders the benefits of Rule 144 and any other rule or regulation
of the SEC that may at any time permit the Stockholders to sell shares of Common Stock to the public without registration, the
Company covenants and agrees to: (i) make and keep public information available, as those terms are
understood and defined in Rule 144, until the earlier of (A) six (6) months
after such date as all of the Registrable Securities may be sold without restriction by the holders thereof pursuant to Rule 144
or any other rule of similar effect or (B) such date as all of the Registrable Securities shall have
been resold pursuant to a Registration Statement or Rule 144; (ii) file with the SEC in a timely manner all reports and other
documents required of the Company under the 1934 Act; (iii) prior to the filing of any Registration Statement or any amendment
thereto (whether pre-effective or post-effective) and prior to the filing of any Prospectus, provide to each Stockholder copies
of all pages thereof (if any) that reference such Stockholders, and (iv) furnish to each Stockholder upon request, as long as
such Stockholder owns any Registrable Securities, (A) a written statement by the Company that it has
complied with the reporting requirements of the 1934 Act, (B) a copy of the Company’s most recent
Annual Report on Form 10-K or Quarterly Report on Form 10-Q, and (C) such other information as may
be reasonably requested in order to avail such Stockholder of any rule or regulation of the SEC that permits the selling of any
such Registrable Securities without registration.

 

4.
OBLIGATION OF THE INVESTORS.

 

(a)
Each Stockholder agrees to furnish to the Company a completed Selling Stockholder Questionnaire within ten (10) Trading Days after
the Effective Date. At least ten (10) Trading Days prior to the first anticipated filing date of a
Registration Statement for any registration under this Agreement, the Company will notify each Stockholder of the information
the Company reasonably requires from that Stockholder regarding itself, the Registrable Securities held by it and the intended
method of disposition of the Registrable Securities held by it, other than the information contained in the Selling Stockholder
Questionnaire, if any. Each Stockholder shall furnish such information to the Company in writing promptly upon receiving such
notification and, in any event, at least three (3) Trading Days prior to the applicable anticipated
filing date (unless such Stockholder has notified the Company in writing of its election to exclude all of its Registrable Securities
from such Registration Statement) and shall execute such documents in connection with such registration as the Company may reasonably
request. Each Stockholder further agrees that it shall not be entitled to be named as a selling securityholder in the Registration
Statement or use the Prospectus for offers and resales of Registrable Securities at any time, unless such Stockholder has returned
to the Company a completed and signed Selling Stockholder Questionnaire and a response to any reasonable requests for further
information as described in the previous sentence. If a Stockholder returns a Selling Stockholder Questionnaire or a request for
further information, in either case, after its respective deadline, the Company shall use its reasonable best efforts to take
such actions as are required to name such Stockholder as a selling security holder in the Registration Statement or any pre-effective
or post-effective amendment thereto and to include (to the extent not theretofore included) in the Registration Statement the
Registrable Securities identified in such late Selling Stockholder Questionnaire or request for further information. Each Stockholder
acknowledges and agrees that the information in the Selling Stockholder Questionnaire or request for further information as described
in this Section 4(a) will be used by the Company in the preparation of the Registration Statement and hereby consents to
the inclusion of such information in the Registration Statement.

 

(b)
Each Stockholder, by its acceptance of the Registrable Securities, agrees to cooperate with the Company as reasonably requested
by the Company in connection with the preparation and filing of a Registration Statement or in connection with any Underwritten
Offering hereunder, unless such Stockholder has notified the Company in writing of its election to exclude all of its Registrable
Securities from such Registration Statement or such Underwritten Offering.

 

(c)
Each Stockholder agrees that, upon receipt of any notice from the Company of either (i) the commencement
of an Allowed Delay pursuant to Section 2(c)(i) or (ii) the happening of an event pursuant to Section 3(h) hereof,
such Stockholder will immediately discontinue disposition of Registrable Securities pursuant to any Registration Statement covering
such Registrable Securities (but not, for the avoidance of doubt, pursuant to Rule 144 or other applicable exemption under the
1933 Act), until the Stockholder is advised by the Company that such dispositions may again be made pursuant to such Registration
Statement.

 

    -11-

     

    

 

(d)
Each Investor covenants and agrees that it will comply with the prospectus delivery requirements of the 1933 Act as applicable
to it or an exemption therefrom in connection with sales of Registrable Securities pursuant to any Registration Statement.

 

5.
INDEMNIFICATION.

 

(a)
 Indemnification by the Company. The Company agrees to indemnify and hold harmless each Stockholder, and each of its
officers, employees, Affiliates, directors, partners, members, managers, equityholders, attorneys, advisors and agents, and each
person or entity, if any, who controls (within the meaning of Section 15 of the 1933 Act or Section
20 of the 1934 Act) each Stockholder (each, an “Stockholder Indemnified Party”),
to the fullest extent permitted by applicable law, from and against any expenses, losses, judgments, actions, claims, proceedings
(whether commenced or threatened), damages, liabilities or costs (including, without limitation, reasonable attorneys’ fees),
whether joint or several (collectively, “Losses”), as incurred, arising out of or based upon any Misstatement
contained in any Registration Statement under which the sale of such Registrable Securities was registered under the 1933 Act,
any preliminary Prospectus, final Prospectus or summary Prospectus contained in such Registration Statement, any amendment or
supplement to such Registration Statement, preliminary Prospectus, final Prospectus or summary Prospectus, or any free writing
prospectus relating to such Registration Statement, or any violation by the Company of the 1933 Act or any rule or regulation
promulgated thereunder applicable to the Company or any state securities (or Blue Sky) law, rule or regulation and relating to
action or inaction required of the Company in connection with any such Registration; and the Company shall promptly reimburse
the Stockholder Indemnified Party for any reasonable, customary and documented out-of-pocket legal and any other expenses incurred,
as incurred, by such Stockholder Indemnified Party in connection with investigating and defending any such Losses, except, with
respect to any Stockholder of Registrable Securities, to the extent such Stockholder is liable to indemnify the Company for such
Losses pursuant to Section 5(b); provided, however, that the indemnity agreement contained in this Section 5(a)
shall not apply to amounts paid in settlement of any claim or proceeding if such settlement is effected without the consent of
the Company, which consent shall not be unreasonably withheld, and the Company will not be liable in any such case to the extent
that any such losses, judgments, claims, damages, liabilities or out-of-pocket expenses arises out of or is based upon any Misstatement
made in such Registration Statement in reliance upon and in conformity with information furnished to the Company, in writing,
by a Stockholder Indemnified Party expressly for use therein.

 

(b)
Indemnification by Stockholders. Each Selling Stockholder will, in the event that any Registration is being effected under
the 1933 Act pursuant to this Agreement of any Registrable Securities held by such Stockholder and the Company has required all
Selling Stockholders to provide such an undertaking on the same terms, indemnify and hold harmless the Company, each of its directors
and officers, legal counsel, accountants and each Underwriter (if any), and each other Selling Stockholder and each other person,
if any, who controls another Selling Stockholder or such underwriter within the meaning of the 1933 Act, against any Losses, insofar
as such Losses arise out of or are based upon any Misstatement contained in any Registration Statement under which the sale of
such Registrable Securities was Registered under the 1933 Act, any preliminary Prospectus, final Prospectus or summary Prospectus
contained in the Registration Statement, or any amendment or supplement thereto, if the Misstatement was made in reliance upon
and in conformity with information furnished in writing to the Company by such Selling Stockholder expressly for use therein,
and shall reimburse the Company, its directors and officers, and each other Selling Stockholder for any reasonable, customary
and documented out-of-pocket legal or other expenses incurred by any of them in connection with investigation or defending any
such Loss. Each Selling Stockholder’s indemnification obligations hereunder shall be several and not joint and shall be
proportional to and limited to the amount of any net proceeds (after payment of any underwriting fees, discounts, commissions
or taxes) actually received by such Selling Stockholder in connection with the sale of Registrable Securities under a Registration
Statement from which such Losses arise, except in the case of fraud or willful misconduct by such Selling Stockholder.

 

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(c)
Conduct of Indemnification Proceedings. Promptly after receipt by any person of any notice of any Loss in respect of which
indemnity may be sought pursuant to Section 5(a) or 5(b), such person (the “Indemnified Party”)
shall, if a claim in respect thereof is to be made against any other person for indemnification hereunder, notify such other person
(the “Indemnifying Party”) in writing of the Loss; provided, however, that the failure by the
Indemnified Party to notify the Indemnifying Party shall not relieve the Indemnifying Party from any liability which the Indemnifying
Party may have to such Indemnified Party hereunder, except and solely to the extent the Indemnifying Party is actually and materially
prejudiced by such failure. If the Indemnified Party is seeking indemnification with respect to any claim or action brought against
the Indemnified Party, then the Indemnifying Party shall be entitled to participate in such claim or action, and, to the extent
that it wishes, jointly with all other Indemnifying Parties, to assume control of the defense thereof with counsel reasonably
satisfactory to the Indemnified Party. After notice from the Indemnifying Party to the Indemnified Party of its election to assume
control of the defense of such claim or action, the Indemnifying Party shall not be liable to the Indemnified Party for any legal
or other expenses subsequently incurred by the Indemnified Party in connection with the defense thereof; provided, however,
that in any action in which both the Indemnified Party and the Indemnifying Party are named as defendants, the Indemnified Party
shall have the right to employ separate counsel (but no more than one such separate counsel, in addition to local counsel) to
represent the Indemnified Party and its controlling persons who may be subject to liability arising out of any claim in respect
of which indemnity may be sought by the Indemnified Party against the Indemnifying Party, with the reasonable and documented fees
and expenses of such counsel to be paid by such Indemnifying Party if, based upon the opinion of counsel of such Indemnified Party,
representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between
them. No Indemnifying Party shall, without the prior written consent of the Indemnified Party, consent to entry of judgment or
effect any settlement of any claim or pending or threatened proceeding in respect of any Losses for which the Indemnified Party
seeks indemnification hereunder if such settlement or judgment includes any non-monetary remedies binding on the Indemnified Party,
requires an admission of fault or culpability on the part of the Indemnified Party or does not include an unconditional release
from all liability of the Indemnified Party in respect of such Losses.

 

(d)
Contribution. If the indemnification provided for in the foregoing Sections 5(a) and 5(b) is unavailable
to any Indemnified Party in respect of any Loss referred to herein, then each such Indemnifying Party, in lieu of indemnifying
such Indemnified Party, shall contribute to the amount paid or payable by such Indemnified Party as a result of such Loss in such
proportion as is appropriate to reflect the relative fault of the Indemnified Parties and the Indemnifying Parties in connection
with the actions or omissions which resulted in such Loss. The relative fault of any Indemnified Party and any Indemnifying Party
shall be determined by reference to, among other things, whether the Misstatement relates to information supplied by such Indemnified
Party or such Indemnifying Party (in the case of a Stockholder, such Misstatement was made in reliance upon and in conformity
with information furnished in writing to the Company by such Stockholder expressly for use therein) and the parties’ relative
intent, knowledge, access to information and opportunity to correct or prevent such Misstatement. The parties hereto agree that
it would not be just and equitable if contribution pursuant to this Section 5(d) were determined by pro rata allocation
or by any other method of allocation which does not take account of the equitable considerations referred to in this Section
5(d). The amount paid or payable by an Indemnified Party as a result of any Loss referred to in this paragraph shall be deemed
to include, subject to the limitations set forth above, any legal or other expenses incurred by such Indemnified Party in connection
with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 5(d), no Stockholder
shall be required to contribute any amount in excess of the dollar amount of the net proceeds (after payment of any underwriting
fees, discounts, commissions or taxes) actually received by such Stockholder from the sale of Registrable Securities which gave
rise to such contribution obligation, less the aggregate amount of any damages or other amounts such Stockholder has otherwise
been required to pay (pursuant to Section 5(b) otherwise) as a result of the Misstatement. No person guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the 1933 Act) shall be entitled to contribution from any person who was not guilty of
such fraudulent misrepresentation.

 

    -13-

     

    

 

6.
MISCELLANEOUS.

 

(a)
Effective Date. This Agreement shall be effective as of the Effective Date.

 

(b)
Amendments and Waivers. This Agreement may be amended only by a writing signed by the Company and the Required Stockholders.
The Company may take any action herein prohibited, or omit to perform any act herein required to be performed by it, only if the
Company shall have obtained the written consent to such amendment, action or omission to act, of the Required Stockholders. Notwithstanding
the foregoing, this Agreement may not be amended and the observance of any term of this Agreement may not be waived with respect
to any Stockholder without the written consent of such Stockholder unless such amendment or waiver applies to all Stockholders
in the same fashion.

 

(c)
Notices. Any notices, consents, waivers or other communications required or permitted to be given under the terms of this
Agreement must be in writing and will be deemed to have been delivered upon receipt, when delivered personally or by a nationally
recognized overnight delivery service or by e-mail, in each case properly addressed to the party to receive the same. The addresses
for such communications shall be:

 

If
to the Company:

 

[______________]

[______________]

[______________]

 

With
copy (which shall not constitute notice) to:

 

Pepper
Hamilton, LLP

3000 Two Logan Square

Philadelphia, PA 19103-2799

Attention: Rachael M. Bushey and Jennifer Porter

Email: busheyr@pepperlaw.com; porterj@pepperlaw.com

 

If
to any Stockholder, to it at the address set forth under such Stockholder’s name on its signature page hereto, or, in the
case of a Stockholder or any other party named above, at such other address or to the attention of such other Person as the recipient
party has specified by written notice given to each other party five (5) days prior to the effectiveness of such change. Written
confirmation of receipt (i) given by the recipient of such notice, consent, waiver or other communication;
(ii) provided by affidavit of personal delivery by a delivery service selected by the Company; or
(iii) provided by a nationally recognized overnight delivery service shall be rebuttable evidence
of personal service, deposit with a nationally recognized overnight delivery service or electronic transmission.

 

    -14-

     

    

 

(d)
Assignments and Transfers by Stockholders. The provisions of this Agreement shall be binding upon and inure to the benefit
of the Stockholders and their respective successors and assigns. A Stockholder may transfer or assign, in whole or from time to
time in part, to one or more persons its rights hereunder in connection with the transfer of Registrable Securities by such Stockholder
to such person, provided that such Stockholder complies with all laws applicable thereto or the terms of any contract to which
such Stockholder is a party, and provides written notice of assignment to the Company promptly after such assignment is effected,
and such person agrees in writing to be bound by all of the provisions contained herein.

 

(e)
Assignments and Transfers by the Company. This Agreement may not be assigned by the Company (whether by operation of law
or otherwise) without the prior written consent of the Required Stockholders; provided, however, that in the event
that the Company is a party to a merger, consolidation, share exchange or similar business combination transaction in which the
Common Stock is converted into the equity securities of another Person, from and after the effective time of such transaction,
such Person shall, by virtue of such transaction, be deemed to have assumed the obligations of the Company hereunder, the term
“Company” shall be deemed to refer to such Person and the term “Registrable Securities” shall be deemed
to include the securities received by the Stockholders in connection with such transaction unless such securities are otherwise
freely tradable by the Stockholders after giving effect to such transaction.

 

(f)
Benefits of the Agreement. The terms and conditions of this Agreement shall inure to the benefit of and be binding upon
the respective permitted successors and assigns of the parties. Nothing in this Agreement, express or implied, is intended to
confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations,
or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement (including Section 5 hereof).

 

(g)
Counterparts; Execution. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original,
but all of which together shall constitute one and the same instrument. A PDF or other reproduction of this Agreement may be executed
by one or more parties hereto, and an executed copy of this Agreement may be delivered by one or more parties hereto by e-mail
or other electronic transmission device pursuant to which the signature of or on behalf of such party can be seen, and such execution
and delivery shall be considered legal, valid, binding and effective for all purposes. The parties hereto hereby agree that no
party shall raise the execution of a PDF or other reproduction of this Agreement, or the fact that any signature or document was
transmitted or communicated by e-mail or other electronic transmission device, as a defense to the formation of this Agreement.

 

(h)
Headings. The headings of this Agreement are for convenience of reference and shall not form part of, or affect the interpretation
of, this Agreement.

 

(i)
Severability. If any provision of this Agreement shall be invalid or unenforceable in any jurisdiction, such invalidity
or unenforceability shall not affect the validity or enforceability of the remainder of this Agreement in that jurisdiction or
the validity or enforceability of any provision of this Agreement in any other jurisdiction. The parties will endeavor in good
faith negotiations to replace the prohibited, invalid or unenforceable provision(s) with a valid provision(s), the effect of which
comes as close as possible to that of the prohibited, invalid or unenforceable provision(s).

 

(j)
Further Assurances. The parties shall execute and deliver all such further instruments and documents and take all such
other actions as may reasonably be required to carry out the transactions contemplated hereby and to evidence the fulfillment
of the agreements herein contained.

 

(k)
No Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties thereto
express their mutual intent, and no rules of strict construction will be applied against any party.

 

    -15-

     

    

 

(l)
Entire Agreement. This Agreement is intended by the parties as a final expression of their agreement and intended to be
a complete and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained
herein. This Agreement supersedes all prior agreements and understandings between the parties with respect to such subject matter.

 

(m)
Governing Law; Consent to Jurisdiction; Waiver of Jury Trial. All questions concerning the construction, validity, enforcement
and interpretation of this Agreement shall be governed by the internal laws of the State of New York, without giving effect to
any choice of law or conflict of law provision or rule (whether of the State of New York or any other jurisdiction) that would
cause the application of the laws of any jurisdiction other than the State of New York. Each party hereby irrevocably submits
to the exclusive jurisdiction of the courts of the State of New York for the adjudication of any dispute hereunder or in connection
herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert
in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such
suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper.
Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action
or proceeding by mailing a copy thereof to such party at the address for such notices to it under this Agreement and agrees that
such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed
to limit in any way any right to serve process in any manner permitted by law. EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES ANY
RIGHT TO REQUEST A TRIAL BY JURY FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION HEREWITH OR ARISING OUT OF THIS
AGREEMENT AND REPRESENTS THAT COUNSEL HAS BEEN CONSULTED SPECIFICALLY AS TO THIS WAIVER.

 

[remainder
of page intentionally left blank]

 

    -16-

     

    

 

IN
WITNESS WHEREOF, the parties have executed this Agreement or caused their duly authorized officers to execute this Agreement
as of the date first above written.

 

	 	COMPANY:
	 	 
	 	RENOVACOR, INC.
	 	 
	 	By:	             
	 	Name: 	 
	 	Title: 	 

 

[Signature
Page to Registration Rights Agreement]

 

     

     

    

 

STOCKHOLDER:

 

	 	 
	 	Name of Stockholder
	 	 
	 	 
	 	(Signature)
	 	 
	 	 
	 	Name of Signing Party
    (Please Print)
	 	 
	 	 
	 	Title of Signing
    Party (Please Print)
	 	 
	 	 
	 	Tax ID #
	 	 
	 	 
	 	Date
    Signed

 

 

 

 

[Signature
Page to Registration Rights Agreement]

 

     

     

    

 

EXHIBIT
A

 

Initial
Stockholders 

 

	Stockholder Name	 	Initial Shares	 	 	Initial Warrants	 
	Michael Rice	 	 	10,000	 	 	 	-	 
	Richard Giroux	 	 	10,000	 	 	 	-	 
	Matthew Rossen	 	 	10,000	 	 	 	-	 
	Isaac Manke	 	 	10,000	 	 	 	-	 
	R.A. Session II	 	 	10,000	 	 	 	-	 
	Chardan Investments 2, LLC	 	 	2,105,661	 	 	 	3,500,000	 
	Total:	 	 	2,155,661	 	 	 	3,500,000	 

 

Renovacor
Stockholders

 

	Stockholder Name	 	Merger Shares	 	 	Earnout Shares (%)	 
	[●]	 	 	[●]	 	 	 	[●]	%
	[●]	 	 	[●]	 	 	 	[●]	%

 

     

     

    

 

EXHIBIT
B

 

Plan
of Distribution

 

The
selling stockholders, which as used herein includes donees, pledgees, transferees or other successors-in-interest selling shares
of common stock or interests in shares of common stock received after the date of this prospectus from a selling stockholder as
a gift, pledge, partnership distribution or other transfer, may, from time to time, sell, transfer or otherwise dispose of any
or all of their shares of common stock or interests in shares of common stock on any stock exchange, market or trading facility
on which the shares are traded or in private transactions. These dispositions may be at fixed prices, at prevailing market prices
at the time of sale, at prices related to the prevailing market price, at varying prices determined at the time of sale, or at
negotiated prices.

 

The
selling stockholders may use any one or more of the following methods when disposing of shares or interests therein:

 

		●	ordinary
brokerage transactions and transactions in which the broker-dealer solicits purchasers;

 

		●	block
trades in which the broker-dealer will attempt to sell the shares as agent, but may position and resell a portion of the block
as principal to facilitate the transaction;

 

		●	purchases
by a broker-dealer as principal and resale by the broker-dealer for its account;

 

		●	an
exchange distribution in accordance with the rules of the applicable exchange;

 

		●	privately
negotiated transactions;

 

		●	short
sales effected after the date the registration statement of which this prospectus is a part is declared effective by the SEC;

 

		●	through
the writing or settlement of options or other hedging transactions, whether through an options exchange or otherwise;

 

		●	broker-dealers
may agree with the selling stockholders to sell a specified number of such shares at a stipulated price per share;

 

		●	a
combination of any such methods of sale; and

 

		●	any
other method permitted by applicable law.

 

The
selling stockholders may, from time to time, pledge or grant a security interest in some or all of the shares of common stock
owned by them and, if they default in the performance of their secured obligations, the pledgees or secured parties may offer
and sell the shares of common stock, from time to time, under this prospectus, or under an amendment or supplement to this prospectus
under Rule 424(b)(3) or other applicable provision of the 1933 Act amending the list of selling stockholders to include the pledgee,
transferee or other successors in interest as selling stockholders under this prospectus. The selling stockholders also may transfer
the shares of common stock in other circumstances, in which case the transferees, pledgees or other successors in interest will
be the selling beneficial owners for purposes of this prospectus.

 

     

     

    

 

In
connection with the sale of our common stock or interests therein, the selling stockholders may enter into hedging transactions
with broker-dealers or other financial institutions, which may in turn engage in short sales of the common stock in the course
of hedging the positions they assume. The selling stockholders may also sell shares of our common stock short and deliver these
securities to close out their short positions, or loan or pledge the common stock to broker-dealers that in turn may sell these
securities. The selling stockholders may also enter into option or other transactions with broker-dealers or other financial institutions
or the creation of one or more derivative securities which require the delivery to such broker-dealer or other financial institution
of shares offered by this prospectus, which shares such broker-dealer or other financial institution may resell pursuant to this
prospectus (supplemented or amended as necessary to reflect such transaction).

 

The
aggregate proceeds to the selling stockholders from the sale of the common stock offered by them will be the purchase price of
the common stock less discounts or commissions, if any. Each of the selling stockholders reserves the right to accept and, together
with their agents from time to time, to reject, in whole or in part, any proposed purchase of common stock to be made directly
or through agents. We will not receive any of the proceeds from this offering.

 

The
selling stockholders also may resell all or a portion of the shares in open market transactions in reliance upon Rule 144.

 

The
selling stockholders and any underwriters, broker-dealers or agents that participate in the sale of the common stock or interests
therein may be deemed to be “underwriters” within the meaning of Section 2(11) of the 1933 Act. Any discounts, commissions,
concessions or profit they earn on any resale of the shares may be underwriting discounts and commissions under the 1933 Act.
To the extent required, the shares of our common stock to be sold, the names of the selling stockholders, the respective purchase
prices and public offering prices, the names of any agents, dealer or underwriter, any applicable commissions or discounts with
respect to a particular offer will be set forth in an accompanying prospectus supplement or, if appropriate, a post-effective
amendment to the registration statement that includes this prospectus.

 

In
order to comply with the securities laws of some states, if applicable, the common stock may be sold in these jurisdictions only
through registered or licensed brokers or dealers. We have advised the selling stockholders that the anti-manipulation rules of
Regulation M under the 1934 Act may apply to sales of shares in the market and to the activities of the selling stockholders and
their Affiliates. In addition, to the extent applicable we will make copies of this prospectus (as it may be supplemented or amended
from time to time) available to the selling stockholders for the purpose of satisfying any prospectus delivery requirements of
the 1933 Act. The selling stockholders may indemnify any broker-dealer that participates in transactions involving the sale of
the shares against certain liabilities, including liabilities arising under the 1933 Act.

 

We
have agreed to indemnify the selling stockholders against liabilities, including liabilities under the 1933 Act and state securities
laws, relating to the registration of the shares offered by this prospectus.

 

We
have agreed with the selling stockholders to keep the registration statement of which this prospectus constitutes a part effective
until the earlier of (1) such time as all of the shares covered by this prospectus have been disposed
of pursuant to and in accordance with such registration statement or (2) the date on which all of
the shares may be sold by the selling stockholders without restriction (including any current public information requirement)
pursuant to Rule 144.

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