Document:

Exhibit 10.4

 

Execution
Version

 

AMENDMENT TO STOCK ESCROW AGREEMENT

 

THIS AMENDMENT TO STOCK
ESCROW AGREEMENT (this “Amendment”) is made and entered into as of June 17, 2019, by and among (i) MTech
Acquisition Corp., a Delaware corporation (together with its successors, the “Company”), (ii) MTech
Acquisition Holdings Inc., a Delaware corporation and, prior to the consummation of the transactions contemplated by the Merger
Agreement (as defined below) (the “Closing”), a wholly-owned subsidiary of the Company, and which will
be known after the Closing as “Akerna Corp.” (“Pubco”), (iii) MTech Sponsor LLC, a
Florida limited liability company (“Founder”), and (iv) Continental Stock Transfer & Trust Company,
a Delaware corporation, as escrow agent (“Escrow Agent”). Capitalized terms used but not otherwise defined
herein shall have the respective meanings assigned to such terms in the Stock Escrow Agreement (as defined below) (and if such
term is not defined in the Stock Escrow Agreement, then the Merger Agreement).

 

RECITALS

 

WHEREAS, the
Company, Founder and Escrow Agent are parties to that certain Stock Escrow Agreement, dated as of January 29, 2018 (the “Stock
Escrow Agreement”), pursuant to which Founder, as a condition to the Company’s underwriting agreement with
Early Bird Capital, Inc., agreed to deposit 1,437,500 shares of its Class F Common Stock of the Company (“Founder’s
Shares”) into escrow with the Escrow Agent;

 

WHEREAS, on
October 10, 2018, (i) Pubco, (ii) the Company, (iii) MTech Purchaser Merger Sub Inc., a Delaware corporation and a wholly-owned
subsidiary of Pubco (“Purchaser Merger Sub”), (iv) MTech Company Merger Sub LLC, a Colorado limited liability
company and a wholly-owned subsidiary of Pubco (“Company Merger Sub”), (v) Founder, in the capacity as
the Purchaser Representative thereunder, (vi) MJ Freeway LLC, a Colorado limited liability company (together with its successors,
“MJF”) and (vii) Jennifer Billingsley (as the successor to Harold Handelsman), in the capacity as Seller
Representative thereunder entered into that certain Agreement and Plan of Merger (as amended from time to time in accordance with
the terms thereof, including without limitation by the First Amendment to Merger Agreement, dated April 17, 2019, the “Merger
Agreement”);

 

WHEREAS, pursuant
to the Merger Agreement, subject to the terms and conditions thereof, among other matters, upon the Closing (a) Purchaser Merger
Sub will merge with and into the Company, with the Company continuing as the surviving entity (the “Purchaser Merger”),
and with security holders of the Company receiving substantially equivalent securities of Pubco, and (b) Company Merger Sub will
merge with and into MJF, with MJF continuing as the surviving entity (the “Company Merger”, and together
with the Purchaser Merger, the “Mergers” and, collectively with the other transactions contemplated by
the Merger Agreement, the “Transactions”), and with equity holders of MJF receiving shares of common
stock of Pubco, and as a result of which Mergers, among other matters, the Company and MJF will become wholly-owned subsidiaries
of Pubco and Pubco will become a publicly traded company, all upon the terms and subject to the conditions set forth in the Merger
Agreement and in accordance with the applicable provisions of the DGCL and the Colorado Act; and

 

WHEREAS, the
parties hereto desire to amend the Stock Escrow Agreement to add Pubco as a party to the Stock Escrow Agreement and to revise the
terms hereof in order to reflect the Transactions, including the issuance thereunder of shares of Pubco Common Stock in exchange
for the Company’s outstanding shares.

 

     

     

    

 

NOW,
THEREFORE, in consideration of the premises and the mutual promises herein made, and in consideration of the representations,
warranties and covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

1. Addition of Pubco as
a Party to the Stock Escrow Agreement. The parties hereby agree to add Pubco as a party to the Stock Escrow Agreement.
The parties further agree that, from and after the Closing, (i) all of the rights and obligations of the Company under the
Stock Escrow Agreement shall be, and hereby are, assigned and delegated to Pubco as if it were the original
“Company” party thereto, and (ii) all references to the Company under the Stock Escrow Agreement relating to
periods from and after the Closing shall instead be a reference to Pubco. By executing this Amendment, Pubco hereby agrees to
be bound by and subject to all of the terms and conditions of the Stock Escrow Agreement, as amended by this Amendment, from
and after the Closing as if it were the original “Company” party thereto.

 

2. Amendments to Stock Escrow Agreement. The
parties hereto hereby agree to the following amendments to the Stock Escrow Agreement:

 

(a) The
defined terms in this Amendment, including in the preamble and recitals hereto, and the definitions incorporated by reference
from the Merger Agreement, are hereby added to the Stock Escrow Agreement as if they were set forth therein.

 

(b) The parties
hereby agree that the term “Escrow Shares” as used in the Stock Escrow Agreement shall include any
and all shares of common stock of Pubco into which the Founder’s Shares on deposit with the Escrow Agent automatically
convert upon the effectiveness of the Mergers (and any other securities of Pubco or any successor entity issued in
consideration of (including as a stock split, dividend or distribution) or in exchange for any of such securities), which
shares of common stock of Pubco shall continue to be held as Escrow Shares after the Closing in accordance with the terms and
conditions of the Stock Escrow Agreement. The parties further agree that any reference in the Stock Escrow Agreement to
“Common Stock” or “Class B Common Stock” will instead refer to the shares of common stock of Pubco
(and any other securities of Pubco or any successor entity issued in consideration of (including as a stock split, dividend
or distribution) or in exchange for any of such securities).

 

(c) Section 6.6 of
the Stock Escrow Agreement is hereby amended to add the following address for notices to Pubco under the Stock Escrow
Agreement immediately after the address for the Company:

 

“If to Pubco, to:

 

Akerna Corp.

1601 Arapahoe Street, Suite 900

Denver, CO 80202

Attn: Chief Executive Officer

 

3. Effectiveness. Notwithstanding
anything to the contrary contained herein, this Amendment shall only become effective upon the Closing. In the event that the
Merger Agreement is terminated in accordance with its terms prior to the Closing, this Amendment and all rights and
obligations of the parties hereunder shall automatically terminate and be of no further force or effect.

 

4. Miscellaneous. Except as expressly
provided in this Amendment, all of the terms and provisions in the Stock Escrow Agreement are
and shall remain in full force and effect, on the terms and subject to the conditions set forth therein. This Amendment does
not constitute, directly or by implication, an amendment or waiver of any provision of the Stock Escrow Agreement, or any
other right, remedy, power or privilege of any party thereto, except as expressly set forth herein. Any reference to the
Stock Escrow Agreement in the Stock Escrow Agreement or any other agreement, document, instrument or certificate entered into
or issued in connection therewith shall hereinafter mean the Stock Escrow Agreement, as amended by this Amendment (or as the
Stock Escrow Agreement may be further amended or modified in accordance with the terms thereof). The terms of this Amendment
shall be governed by, enforced and construed and interpreted in a manner consistent with the provisions of the Stock Escrow
Agreement, including without limitation Section 6.1 thereof.

 

[REMAINDER OF
PAGE INTENTIONALLY LEFT BLANK; SIGNATURE PAGES FOLLOW] 

    2

     

    

 

IN
WITNESS WHEREOF, each party hereto has caused this Amendment to Stock Escrow Agreement to be signed and delivered by its respective
duly authorized officer as of the date first above written.

 

	 	The Company:
	 	 
	 	MTECH ACQUISITION CORP.
	 	 	 
	 	By:	/s/ Scott Sozio
	 	 	Name: Scott Sozio
	 	 	Title: CEO
	 	 	 
	 	Pubco:
	 	 
	 	MTECH ACQUISITION HOLDINGS INC.
	 	 	 
	 	By:	/s/ Scott Sozio
	 	 	Name: Scott Sozio
	 	 	Title: President
	 	 	 
	 	Founder:
	 	 
	 	MTECH SPONSOR LLC
	 	 	 
	 	By:	/s/ Scott Sozio
	 	 	Name: Scott Sozio
	 	 	Title: President
	 	 	 
	 	Escrow Agent:
	 	 
	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY
	 	 	 
	 	By:	/s/ Henry Farrell
	 	 	Name: Henry Farrell
	 	 	Title: Vice President

 

[Signature Page to Amendment to Stock
Escrow Agreement]

 

 

3Exhibit 10.5

 

EXECUTION VERSION

 

NON-COMPETITION
AND NON-SOLICITATION AGREEMENT

 

THIS
NON-COMPETITION AND NON-SOLICITATION AGREEMENT (this “Agreement”) is being executed and delivered as
of June 17, 2019, by the undersigned (“Seller”) in favor of and for the benefit of MTech Acquisition
Holdings Inc., a Delaware corporation which will be known after the consummation of the transactions contemplated by the Merger
Agreement (as defined below) (the “Closing”) as “Akerna Inc.” (together with its successors,
“Pubco”), MJ Freeway LLC, a Colorado limited liability company (together with its successors,
including the Company Surviving Subsidiary (as defined in the Merger Agreement, the “Company”), and
each of Pubco’s and the Company’s present and future Affiliates, successors and direct and indirect Subsidiaries (including
Purchaser) (collectively with Pubco and the Company, the “Covered Parties”). Any capitalized term used,
but not defined in this Agreement will have the meaning ascribed to such term in the Merger Agreement.

 

WHEREAS,
Pubco and the Company are parties to that certain that Agreement and Plan of Merger, dated as of October 10, 2018 (as amended,
including without limitation by the First Amendment to the Merger Agreement, dated April 17, 2019, the “Merger Agreement”),
by and among (i) MTech Acquisition Corp., a Delaware corporation and, prior to giving effect to the Closing, the parent entity
of Pubco (together with its successors, including the Purchaser Surviving Subsidiary, “Purchaser”),
(ii) Pubco, (iii) MTech Purchaser Merger Sub Inc., a Delaware corporation and a wholly-owned subsidiary of Pubco (”Purchaser
Merger Sub”), (iv) MTech Company Merger Sub LLC, a Colorado limited liability company and a wholly-owned subsidiary
of Pubco (“Company Merger Sub” and together with Pubco, Purchaser and Purchaser Merger Sub, the “Purchaser
Parties”), (v) MTech Sponsor LLC, a Florida limited liability company, in the capacity as the Purchaser Representative
thereunder (including any successor Purchaser Representative appointed in accordance therewith, the “Purchaser Representative”),
(vi) the Company and (vii) Jessica Billingsley (as successor to Harold Handelsman), in the capacity as Seller Representative thereunder,
pursuant to which, subject to the terms and conditions thereof, among other matters, (a) Purchaser Merger Sub will merge with
and into Purchaser, with Purchaser continuing as the surviving entity (the “Purchaser Merger”), and
with security holders of Purchaser receiving substantially equivalent securities of Pubco, and (b) Company Merger Sub will merge
with and into the Company, with the Company continuing as the surviving entity (the “Company Merger”,
and together with the Purchaser Merger, the “Mergers” and, collectively with the other transactions
contemplated by the Merger Agreement, the “Transactions”), and with equity holders of the Company, including
Seller, receiving shares of common stock of Pubco, and as a result of which Mergers, among other matters, Purchaser and the Company
will become wholly-owned subsidiaries of Pubco and Pubco will become a publicly traded company, all upon the terms and subject
to the conditions set forth in the Merger Agreement and in accordance with the applicable provisions of the DGCL and the Colorado
Act;

 

WHEREAS,
the Company (and after the Closing, Pubco), directly and indirectly through its Subsidiaries, creates and sells software, consulting
and data solutions for cannabis businesses, including cultivation management, point of sale, patient management and inventory
tracking systems (the “Business”);

 

WHEREAS,
in connection with, and as a condition to the Closing and to enable the Purchaser Parties and the Company to secure more fully
the benefits of the Transactions, including the protection and maintenance of the goodwill and confidential information of the
Company and its Subsidiaries and the other Covered Parties, the Purchaser Parties and the Company have required that Seller enter
into this Agreement;

 

WHEREAS,
Seller is entering into this Agreement in order to induce the Purchaser Parties and the Company to consummate the Transactions,
pursuant to which Seller will directly or indirectly receive a material benefit; and

 

     

     

    

 

WHEREAS,
Seller, as a former and/or current member, manager, officer and/or employee of the Company and/or its Subsidiaries, has contributed
to the value of the Company and its Subsidiaries and has obtained extensive and valuable knowledge and confidential information
concerning the business of the Company and its Subsidiaries.

 

NOW,
THEREFORE, in order to induce the Purchaser Parties and the Company to consummate the Transactions, and for other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, Seller hereby agrees as follows:

 

1. Restriction
on Competition.

 

(a)
Restriction. Seller hereby agrees that during the period from the Closing until the four (4) year anniversary of the Closing
(the “Restricted Period”), Seller will not, and will cause its Affiliates not to, without the prior
written consent of Pubco (which may be withheld in its sole discretion), anywhere within the United States, Australia, Canada,
Chile, Columbia, Denmark, New Zealand, South Africa, Spain, Switzerland, Uruguay or in any other markets in which the Covered
Parties are engaged, or are actively contemplating to become engaged, in the Business as of the Closing or during the Restricted
Period (the “Territory”), directly or indirectly engage in the Business (other than through a Covered
Party) or own, manage, finance or control, or participate in the ownership, management, financing or control of, or become engaged
or serve as an officer, director, member, partner, employee, agent, consultant, advisor or representative of, a business or entity
(other than a Covered Party) that engages in the Business (a “Competitor”). Notwithstanding the foregoing,
Seller and its Affiliates may own passive investments of not more than three percent (3%) beneficially ownership of any class
of outstanding equity interests in a Competitor that is publicly traded, so long as Seller and its Affiliates and their respective
equity holders, directors, officers, managers and employees who were involved with the business of any of the Covered Parties
are not involved in the management or control of such Competitor (“Permitted Ownership”).

 

(b)  Acknowledgment.
Seller acknowledges and agrees, based upon the advice of legal counsel and/or Seller’s own education, experience and
training, that (i) Seller possesses knowledge of confidential information of the Covered Parties and the Business, (ii)
Seller’s execution of this Agreement is a material inducement to the Purchaser Parties and the Company to
consummate the Transactions and to realize the goodwill of the Company and its Subsidiaries, for which Seller and/or its
Affiliates will receive a substantial direct or indirect financial benefit, and that the Purchaser Parties and the Company
would not have consummated the Transactions but for Seller’s agreements set forth in this Agreement; (iii) it would
impair the goodwill of the Covered Parties and reduce the value of the assets of the Covered Parties and cause serious and
irreparable injury if Seller and/or its Affiliates were to use their ability and knowledge by engaging in the Business in
competition with a Covered Party, and/or to otherwise breach the obligations contained herein and that the Covered Parties
would not have an adequate remedy at law because of the unique nature of the Business, (iv) Seller and its Affiliates have no
intention of engaging in the Business (other than through the Covered Parties) during the Restricted Period other than
through Permitted Ownership, (v) the relevant public policy aspects of restrictive covenants, covenants not to compete and
non-solicitation provisions have been discussed, and every effort has been made to limit the restrictions placed upon Seller
to those that are reasonable and necessary to protect the Covered Parties’ legitimate interests, (vi) the Covered
Parties conduct and intend to conduct the Business everywhere in the Territory (subject to applicable legal limitations) and
compete with other businesses that are or could be located in any part of the Territory (subject to applicable legal
limitations), (vii) the foregoing restrictions on competition are fair and reasonable in type of prohibited activity,
geographic area covered, scope and duration, (viii) the provisions of this Agreement will not prevent Seller from earning a
livelihood, (ix) the consideration provided to Seller under this Agreement and the Merger Agreement is not illusory, and
(x) such provisions do not impose a greater restraint than is necessary to protect the goodwill or other business interests
of the Covered Parties.

 

    2

     

    

 

2. No
Solicitation; No Disparagement.

 

(a)
No Solicitation of Employees and Consultants. Seller agrees that, during the Restricted Period, Seller will not, and will
not permit its Affiliates to, without the prior written consent of Pubco (which may be withheld in its sole discretion), either
on its own behalf or on behalf of any other Person (other than, if applicable, a Covered Party in the performance of its duties
on behalf of the Covered Parties), directly or indirectly: (i) hire or engage as an employee, independent contractor, consultant
or otherwise any Covered Personnel (as defined below); (ii) solicit, induce, encourage or otherwise knowingly cause (or attempt
to do any of the foregoing) any Covered Personnel to leave the service (whether as an employee, consultant or independent contractor)
of any Covered Party; or (iii) in any way interfere with or attempt to interfere with the relationship between any Covered Personnel
and any Covered Party; provided, however, Seller and its Affiliates will not be deemed to have violated this Section
2(a) if any Covered Personnel voluntarily and independently solicits an offer of employment from Seller or its Affiliate (or
other Person whom any of them is acting on behalf of) by responding to a general advertisement or solicitation program conducted
by or on behalf of Seller or its Affiliate (or such other Person whom any of them is acting on behalf of) that is not targeted
at such Covered Personnel or Covered Personnel generally, so long as such Covered Personnel is not hired. For purposes of this
Agreement, “Covered Personnel” means any Person who is or was an employee, consultant or independent
contractor of the Covered Parties as of the date of the relevant act prohibited by this Section 2(a) or during the one
(1) year period preceding such date.

 

(b)
Non-Solicitation of Customers and Suppliers. Seller agrees that, during the Restricted Period, Seller will not, and will
not permit its Affiliates to, without the prior written consent of Pubco (which may be withheld in its sole discretion), individually
or on behalf of any other Person (other than, if applicable, a Covered Party in the performance of its duties on behalf of the
Covered Parties), directly or indirectly: (i) solicit, induce, encourage or otherwise knowingly cause (or attempt to do any of
the foregoing) any Covered Customer (as defined below) to (A) cease being, or not become, a client or customer of any Covered
Party with respect to the Business or (B) reduce the amount of business of such Covered Customer with any Covered Party, or otherwise
alter such business relationship in a manner adverse to any Covered Party, in either case, with respect to or relating to the
Business; (ii) interfere with or disrupt (or attempt to interfere with or disrupt) the contractual relationship between any Covered
Party and any Covered Customer; (iii) divert any business with any Covered Customer relating to the Business from a Covered Party;
(iv) solicit for business, provide services to, engage in or do business with, any Covered Customer for products or services that
are part of the Business; or (v) interfere with or disrupt (or attempt to interfere with or disrupt), any Person that was a vendor,
supplier, distributor, agent or other service provider of a Covered Party at the time of such interference or disruption, for
a purpose competitive with a Covered Party as it relates to the Business. For purposes of this Agreement, a “Covered
Customer” means any Person who is or was an actual customer or client (or prospective customer or client with whom
a Covered Party actively marketed or made or took specific action to make a proposal) of a Covered Party as of the date of the
relevant act prohibited by this Section 2(b) or during the one (1) year period preceding such date.

 

(c)  Non-Disparagement.
Seller agrees that from and after the Closing until the Second (2nd) anniversary of the end of the Restricted
Period, Seller will not, and will not permit its Affiliates to, directly or indirectly engage in any conduct that involves
the making or publishing (including through electronic mail distribution or online social media) of any written or oral
statements or remarks (including the repetition or distribution of derogatory rumors, allegations, negative reports
or comments) that are disparaging, deleterious or damaging to the integrity, reputation or good will of one or more Covered
Parties or their respective management, officers, employees, independent contractors or consultants. Notwithstanding the
foregoing, subject to Section 3 below, the provisions of this Section 2(c) shall not restrict Seller from
providing truthful testimony or information in response to a subpoena or investigation by a Governmental Authority or in
connection with any legal action by Seller or its Affiliate against any Covered Party under this Agreement, the Merger
Agreement or any other Ancillary Document that is asserted by Seller or its Affiliate in good faith.

 

    3

     

    

 

3.
Confidentiality. From and after the Closing, Seller will, and will cause its Representatives to, keep confidential and
not (except, if applicable, in the performance of its duties on behalf of the Covered Parties) directly or indirectly use,
disclose, reveal, publish, transfer or provide access to, any and all Covered Party Information without the prior written
consent of Pubco (which may be withheld in its sole discretion). As used in this Agreement, “Covered Party
Information” means all material and information relating to the business, affairs and assets of any Covered
Party, including material and information that concerns or relates to such Covered Party’s bidding and proposal,
technical information, computer hardware or software, administrative, management, operational, data processing, financial,
marketing, customers, sales, vendors, human resources, employees, business development, planning and/or other business
activities, regardless of whether such material and information is maintained in physical, electronic, or other form, that
is: (A) gathered, compiled, generated, produced or maintained by such Covered Party through its Representatives, or provided
to such Covered Party by its suppliers, service providers or customers; and (B) intended and maintained by such Covered Party
or its Representatives, suppliers, service providers or customers to be kept in confidence. Covered Party Information also
includes information disclosed to any Covered Party by third parties to the extent that a Covered Party has an obligation of
confidentiality in connection therewith. The obligations set forth in this Section 3 will not apply to any Covered
Party Information where Seller can prove that such material or information: (i) is known or available through other lawful
sources not bound by a confidentiality agreement with, or other confidentiality obligation with respect to such material or
information; (ii) is or becomes publicly known through no violation of this Agreement or other non-disclosure obligation
of Seller or any of its Representatives; (iii) is already in the possession of Seller at the time of disclosure through
lawful sources not bound by a confidentiality agreement or other confidentiality obligation as evidenced by Seller’s
documents and records; or (iv) is required to be disclosed pursuant to an order of any administrative body or court of
competent jurisdiction (provided that (A) the applicable Covered Party is given reasonable prior written notice, (B) Seller
cooperates (and causes its Representatives to cooperate) with any reasonable request of any Covered Party to seek to prevent
or narrow such disclosure and (C) if after compliance with clauses (A) and (B) such disclosure is still required, Seller and
its Representatives only disclose such portion of the Covered Party Information that is expressly required by such order, as
it may be subsequently narrowed).

 

4.
Notification to Subsequent Employer. Seller agrees that, during the Restricted Period, any Covered Party may notify any
Person employing or otherwise retaining the services of Seller or evidencing an intention of employing or retaining the
services of Seller the existence and provisions of this Agreement.

 

5.
Representations and Warranties. Seller hereby represents and warrants, to and for the benefit of the Covered Parties, as
of the date of this Agreement and as of the Closing, that: (a) Seller has full power and capacity to execute and deliver, and
to perform all of Seller’s obligations under, this Agreement; and (b) neither the execution and delivery of this
Agreement nor the performance of Seller’s obligations hereunder will result directly or indirectly in a violation or
breach of any agreement or obligation by which Seller is a party or otherwise bound. By entering into this Agreement, Seller
certifies and acknowledges that Seller has carefully read all of the provisions of this Agreement, and that Seller
voluntarily and knowingly enters into this Agreement.

 

    4

     

    

 

6.
Remedies. The covenants and undertakings of Seller contained in this Agreement relate to matters which are of a special,
unique and extraordinary character and a violation of any of the terms of this Agreement may cause irreparable injury to the
Covered Parties, the amount of which may be impossible to estimate or determine and which cannot be adequately compensated.
Seller agrees that, in the event of any breach or threatened breach by Seller of any covenant or obligation contained in this
Agreement, each applicable Covered Party will be entitled to obtain the following remedies (in addition to, and not in lieu
of, any other remedy at law or in equity or pursuant to the Merger Agreement or the other Ancillary Documents that may be
available to the Covered Parties, including monetary damages), and a court of competent jurisdiction may award: (i) an
injunction, restraining order or other equitable relief restraining or preventing such breach or threatened breach, without
the necessity of proving actual damages or that monetary damages would be insufficient or posting bond or security, which
Seller expressly waives; and (ii) recovery of the Covered Party’s attorneys’ fees and costs incurred in enforcing
the Covered Party’s rights under this Agreement. Seller hereby consents to the award of any of the above remedies to
the applicable Covered Party in connection with any such breach or threatened breach. Seller hereby acknowledges and agrees
that in the event of any breach of this Agreement, any value attributed or allocated to this Agreement (or any other
non-competition agreement with Seller) under or in connection with the Merger Agreement shall not be considered a measure of,
or a limit on, the damages of the Covered Parties.

 

7.
Survival of Obligations. The expiration of the Restricted Period will not relieve Seller of any obligation or liability
arising from any breach by Seller of this Agreement during the Restricted Period. Seller further agrees that the time period
during which the covenants contained in Section 1 and Section 2 of this Agreement will be effective will be
computed by excluding from such computation any time during which Seller is in violation of any provision of such
Sections.

 

8.
Miscellaneous.

 

(a) Notices. All
notices, consents, waivers and other communications hereunder shall be in writing and shall be deemed to have been duly given
when delivered (i) in person, (ii) by facsimile or other electronic means, with affirmative confirmation of receipt, (iii)
one Business Day after being sent, if sent by reputable, nationally recognized overnight courier service or (iv) three
(3) Business Days after being mailed, if sent by registered or certified mail, pre-paid and return receipt requested, in each
case to the applicable party at the following addresses (or at such other address for a party as shall be specified by like
notice):

 

    5

     

    

 

	If
    to Pubco or any other Covered Party, to:	with
    a copy (that will not constitute notice) to:
	 	 
	Akerna,
    Inc.	Graubard
    Miller
	1601
    Arapahoe Street, Suite 900	The
    Chrysler Building
	Denver,
    CO 80202	405
    Lexington Avenue - 11th Floor
	Attn:
    Jessica Billingsley, CEO	New
    York, New York 10174 
	Facsimile
    No.: (888) 932-6537	Attn:
    David Alan Miller, Esq. 
	Telephone
    No.: (888) 932-6537	Facsimile
     No.: (212) 818-8881 
	Email:
    jessica@mjfreeway.com	Telephone
     No.: (212) 818-8661 
	 	Email:
    DMiller@graubard.comand
	and	 
	 	and
	MTech
    Sponsor LLC	 
	10124
    Foxhurst Court	Ellenoff
    Grossman & Schole LLP
	Orlando,
    Florida 32836	1345
    Avenue of the Americas, 11th Floor
	Attn:
    Scott Sozio	New
    York, New York 10105
	Facsimile
    No.: (407) 370-3097	Attn:
    	Stuart
    Neuhauser, Esq.
	Telephone
    No.: (407) 345-8332	 	Matthew
    A. Gray, Esq.
	Email:
    scott@vandykeholdings.com	Facsimile
    No.: (212) 370-7889
	 	Telephone
    No.: (212) 370-1300
	 	Email:
    	sneuhauser@egsllp.com
	 	 	mgray@egsllp.com

 

 

 

If to Seller, to:

the
address below Seller’s name on the signature page to this Agreement.

 

 

 

(b) Integration
and Non-Exclusivity. This Agreement, the Merger Agreement and the other Ancillary Documents contain the entire agreement
between Seller and the Covered Parties concerning the subject matter hereof. Notwithstanding the foregoing, the rights and
remedies of the Covered Parties under this Agreement are not exclusive of or limited by any other rights or remedies
which they may have, whether at law, in equity, by contract or otherwise, all of which will be cumulative (and not
alternative). Without limiting the generality of the foregoing, the rights and remedies of the Covered Parties, and the
obligations and liabilities of Seller and its Affiliates, under this Agreement, are in addition to their respective rights,
remedies, obligations and liabilities (i) under the laws of unfair competition, misappropriation of trade secrets, or other
requirements of statutory or common law, or any applicable rules and regulations and (ii) otherwise conferred by contract,
including the Merger Agreement and any other written agreement between Seller or its Affiliate and any of the Covered
Parties. Nothing in the Merger Agreement will limit any of the obligations, liabilities, rights or remedies of Seller or the
Covered Parties under this Agreement, nor will any breach of the Merger Agreement or any other agreement between Seller or
its Affiliate and any of the Covered Parties limit or otherwise affect any right or remedy of the Covered Parties under this
Agreement. If any term or condition of any other agreement between Seller or its Affiliate and any of the Covered Parties
conflicts or is inconsistent with the terms and conditions of this Agreement, the more restrictive terms will control as to
Seller or its Affiliate, as applicable.

 

(c)  Severability;
Reformation. Each provision of this Agreement is separable from every other provision of this Agreement. If any provision
of this Agreement is found or held to be invalid, illegal or unenforceable, in whole or in part, by a court of competent
jurisdiction, then (i) such provision will be deemed amended to conform to applicable laws so as to be valid, legal and
enforceable to the fullest possible extent, (ii) the invalidity, illegality or unenforceability of such provision will not
affect the validity, legality or enforceability of such provision under any other circumstances or in any other jurisdiction,
and (iii) the invalidity, illegality or unenforceability of such provision will not affect the validity, legality or
enforceability of the remainder of such provision or the validity, legality or enforceability of any other provision of this
Agreement. Seller and the Covered Parties will substitute for any invalid, illegal or unenforceable provision a suitable and
equitable provision that carries out, so far as may be valid, legal and enforceable, the intent and purpose of such invalid,
illegal or unenforceable provision. Without limiting the foregoing, if any court of competent jurisdiction determines that
any part hereof is unenforceable because of the duration, geographic area covered, scope of such provision, or otherwise,
such court will have the power to reduce the duration, geographic area covered or scope of such provision, as the case may
be, and, in its reduced form, such provision will then be enforceable. Seller will, at a Covered Party’s request, join
such Covered Party in requesting that such court take such action.

 

    6

     

    

 

(d)
Amendment; Waiver. This Agreement may not be amended or modified in any respect, except by a written agreement executed
by Seller, Pubco and the Purchaser Representative (or their respective permitted successors or assigns). No waiver will be effective
unless it is expressly set forth in a written instrument executed by the waiving party (and if such waiving party is a Covered
Party, the Purchaser Representative) and any such waiver will have no effect except in the specific instance in which it is given.
Any delay or omission by a party in exercising its rights under this Agreement, or failure to insist upon strict compliance with
any term, covenant, or condition of this Agreement will not be deemed a waiver of such term, covenant, condition or right, nor
will any waiver or relinquishment of any right or power under this Agreement at any time or times be deemed a waiver or relinquishment
of such right or power at any other time or times.

 

(e)  Dispute
Resolution. Any dispute, difference, controversy or claim arising in connection with or related or incidental to, or
question occurring under, this Agreement or the subject matter hereof (other than applications for a temporary
restraining order, preliminary injunction, permanent injunction or other equitable relief or application for enforcement of a
resolution under this Section 8(e)) (a “Dispute”) shall be governed by this Section
8(e). A party must, in the first instance, provide written notice of any Disputes to the other parties subject to such
Dispute, which notice must provide a reasonably detailed description of the matters subject to the Dispute. Any Dispute that
is not resolved may at any time after the delivery of such notice immediately be referred to and finally resolved by
arbitration pursuant to the then-existing Expedited Procedures (as defined in the AAA Procedures) of the Commercial
Arbitration Rules (the “AAA Procedures”) of the American Arbitration Association (the
“AAA”). Any party involved in such Dispute may submit the Dispute to the AAA to commence the
proceedings after the Resolution Period. To the extent that the AAA Procedures and this Agreement are in conflict, the terms
of this Agreement shall control. The arbitration shall be conducted by one arbitrator nominated by the AAA promptly (but in
any event within five (5) Business Days) after the submission of the Dispute to the AAA and reasonably acceptable to each
party subject to the Dispute, which arbitrator shall be a commercial lawyer with substantial experience arbitrating disputes
under acquisition agreements. The arbitrator shall accept his or her appointment and begin the arbitration process
promptly (but in any event within five (5) Business Days) after his or her nomination and acceptance by the parties subject
to the Dispute. The proceedings shall be streamlined and efficient. The arbitrator shall decide the Dispute in accordance
with the substantive law of the State of New York. Time is of the essence. Each party shall submit a proposal for resolution
of the Dispute to the arbitrator within twenty (20) days after confirmation of the appointment of the arbitrator. The
arbitrator shall have the power to order any party to do, or to refrain from doing, anything consistent with this Agreement,
the Ancillary Documents and applicable Law, including to perform its contractual obligation(s); provided, that the
arbitrator shall be limited to ordering pursuant to the foregoing power (and, for the avoidance of doubt, shall order) the
relevant party (or parties, as applicable) to comply with only one or the other of the proposals. The arbitrator's award
shall be in writing and shall include a reasonable explanation of the arbitrator's reason(s) for selecting one or the other
proposal. The seat of arbitration shall be in New York County, State of New York. The language of the arbitration shall be
English.

 

    7

     

    

 

(f) Governing
Law; Jurisdiction. This Agreement shall be governed by, construed and enforced in accordance with the Laws of the State
of New York without regard to the conflict of laws principles thereof. Subject to Section 8(e), all Actions
arising out of or relating to this Agreement shall be heard and determined exclusively in any state or federal court located
in New York, New York (or in any appellate courts thereof) (the “Specified Courts”). Subject to Section
8(e), each party hereto hereby (a) submits to the exclusive jurisdiction of any Specified Court for the purpose of any
Action arising out of or relating to this Agreement brought by any party hereto, (b) irrevocably waives, and agrees not to
assert by way of motion, defense or otherwise, in any such Action, any claim that it is not subject personally to the
jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution, that the Action
is brought in an inconvenient forum, that the venue of the Action is improper, or that this Agreement or the transactions
contemplated hereby may not be enforced in or by any Specified Court and (c) waives any bond, surety or other security that
might be required of any other party with respect thereto. Each party agrees that a final judgment in any Action shall be
conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by Law or in
equity. Each party irrevocably consents to the service of the summons and complaint and any other process in any other action
or proceeding relating to the transactions contemplated by this Agreement, on behalf of itself, or its property, by personal
delivery of copies of such process to such party at the applicable address set forth in Section 8(a). Nothing in this Section
8(f) shall affect the right of any party to serve legal process in any other manner permitted by Law.

 

(g)
WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT
IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY ACTION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS
AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE OF ANY OTHER PARTY HAS
REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF ANY ACTION, SEEK TO ENFORCE THAT FOREGOING
WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER
THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 8(g). ANY PARTY HERETO MAY FILE AN ORIGINAL COUNTERPART OR
A COPY OF THIS SECTION 8(g) WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF EACH SUCH PARTY TO THE WAIVER OF ITS RIGHT
TO TRIAL BY JURY.

 

(h)
Successors and Assigns; Third Party Beneficiaries. This Agreement will be binding upon Seller and Seller’s estate,
successors and assigns, and will inure to the benefit of the Covered Parties, and their respective successors and assigns. Each
Covered Party may freely assign any or all of its rights under this Agreement, at any time, in whole or in part, to any Person
which acquires, in one or more transactions, at least a majority of the equity securities (whether by equity sale, merger or otherwise)
of such Covered Party or all or substantially all of the assets of such Covered Party and its Subsidiaries, taken as a whole,
without obtaining the consent or approval of Seller. Seller agrees that the obligations of Seller under this Agreement are personal
and will not be assigned by Seller. Each of the Covered Parties are express third party beneficiaries of this Agreement and will
be considered parties under and for purposes of this Agreement.

 

    8

     

    

 

(i) Purchaser
Representative Authorized to Act on Behalf of Covered Parties. The parties acknowledge and agree that the Purchaser
Representative is authorized and shall have the sole right to act on behalf of Pubco and the other Covered Parties under this
Agreement, including the right to enforce Pubco’s and the other Covered Parties’ rights and remedies under this
Agreement. Without limiting the foregoing, in the event that Seller or its Affiliate serves as a director, officer, employee
or other authorized agent of a Covered Party, Seller or such Affiliate shall have no authority, express or implied, to act or
make any determination on behalf of a Covered Party in connection with this Agreement or any dispute or Action with respect
hereto.

 

(j) Construction.
Seller acknowledges that Seller has been represented by counsel, or had the opportunity to be represented by counsel of
Seller’s choice. Any rule of construction to the effect that ambiguities are to be resolved against the drafting party
will not be applied in the construction or interpretation of this Agreement. Neither the drafting history nor the
negotiating history of this Agreement will be used or referred to in connection with the construction or interpretation of
this Agreement. The headings and subheadings contained in this Agreement are for reference purposes only and shall not affect
in any way the meaning or interpretation of this Agreement. In this Agreement: (i) the words “include,”
“includes” and “including” when used herein shall be deemed in each case to be followed by the words
“without limitation”; (ii) the definitions contained herein are applicable to the singular as well as the plural
forms of such terms; (iii) whenever required by the context, any pronoun shall include the corresponding masculine, feminine
or neuter forms, and the singular form of nouns, pronouns and verbs shall include the plural and vice versa; (iv) the words
“herein,” “hereto,” and “hereby” and other words of similar import shall be deemed in
each case to refer to this Agreement as a whole and not to any particular Section or other subdivision of this Agreement; (v)
the word “if” and other words of similar import when used herein shall be deemed in each case to be followed by
the phrase “and only if”; (vi) the term “or” means “and/or”; and (vii) any agreement or
instrument defined or referred to herein or in any agreement or instrument that is referred to herein means such agreement or
instrument as from time to time amended, modified or supplemented, including by waiver or consent and references to all
attachments thereto and instruments incorporated therein.

 

(k)
Counterparts. This Agreement may be executed in one or more counterparts, and by the different parties hereto in separate
counterparts, each of which when executed shall be deemed to be an original but all of which taken together shall constitute one
and the same agreement. A photocopy, faxed, scanned and/or emailed copy of this Agreement or any signature page to this Agreement,
shall have the same validity and enforceability as an originally signed copy.

 

(l)  
Effectiveness. This Agreement shall be binding upon Seller upon Seller’s execution and delivery of this Agreement,
but this Agreement shall only become effective upon the Closing. In the event that the Merger Agreement is validly terminated
in accordance with its terms prior to the Closing, this Agreement shall automatically terminate and become null and void, and
the parties shall have no obligations hereunder.

 

[Remainder
of Page Intentionally Left Blank; Signature Page Follows]

 

    9

     

    

 

IN WITNESS WHEREOF, the undersigned
has duly executed and delivered this Non-Competition and Non-Solicitation Agreement as of the date first written above.

 

	 	/s/ Jessica Billingsley
	 	 
	 	JESSICA BILLINGSLEY
	 	 
	 	Address for Notice:
	 	 	 
	 	Address:	234 S. Downing St., Denver, CO 80209
	 	 	 
	 	 	 
	 	Facsimile No.:	 
	 	Telephone No.:	9707290372
	 	Email:	jessica@mjfreeway.com

 

(Signature Page
to Non-Competition Agreement]

 

    

     

    

 

	Acknowledged and accepted as of the date first written above:
	 	 
	Pubco:	 
	 	 
	MTECH ACQUISITION HOLDINGS INC.	 
	 	 	 
	By:	/s/ Scott Sozio	 
	Name:	Scott Sozio	 
	Title:	President	 
	 	 
	The Company:	 
	 	 
	MJ FREEWAY LLC	 
	 	 	 
	By:	/s/ Ruth Ann Kraemer	 
	Name:	Ruth Ann Kraemer	 
	Title:	CFO	 
	 	 
	The Purchaser Representative:	 
	 	 
	MTECH SPONSOR LLC,	 
	solely in its capacity as the Purchaser Representative	 
	 	 	 
	By:	/s/ Scott Sozio	 
	Name:	Scott Sozio	 
	Title:	President	 

 

(Signature Page to Non-Competition
Agreement)

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