Document:

Exhibit 10.3

 

LOCK-UP AGREEMENT

 

September ___,
2022

 

		Re:	Securities Purchase Agreement, dated as of September 11,
2022, between T Stamp Inc., a Delaware corporation (the “Company”) and the purchaser signatory thereto (the “Purchaser”)

 

Ladies and Gentlemen:

 

Defined terms not otherwise
defined in this letter agreement (the “Letter Agreement”) shall have the meanings set forth in the Securities Purchase
Agreement (the “Purchase Agreement”), dated as of September 11, 2022. Pursuant to Section 2.2(a) of the Purchase
Agreement and in satisfaction of a condition of the Company’s obligations under the Purchase Agreement, the undersigned irrevocably
agrees with the Company that, from the date hereof until sixty (60) days after the Effective Date (such period, the “Restricted
Period”), the undersigned will not offer, sell, contract to sell, lend, hypothecate, pledge or otherwise dispose of (or enter
into any transaction which is designed to, or might reasonably be expected to, result in the disposition, whether by actual disposition
or effective economic disposition due to cash settlement or otherwise, by the undersigned or any Affiliate of the undersigned or any person
in privity with the undersigned or any Affiliate of the undersigned), directly or indirectly, or establish or increase a put equivalent
position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Securities Exchange Act of 1934,
as amended (the “Exchange Act”), with respect to, any shares of Common Stock of the Company or securities convertible,
exchangeable or exercisable into, shares of Common Stock of the Company beneficially owned, held or hereafter acquired by the undersigned
(the “Securities”). Beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange
Act. In order to enforce this covenant, the Company shall impose irrevocable stop-transfer instructions preventing the transfer agent
of the Company from effecting any actions in violation of this Letter Agreement.

 

Notwithstanding the foregoing,
and subject to the conditions below, the undersigned may transfer the Securities provided that (i) the Company receives a signed
lock-up letter agreement (in the form of this Letter Agreement) for the balance of the Restricted Period from each donee, trustee, distributee,
or transferee, as the case may be, prior to such transfer (ii) any such transfer shall not involve a disposition for value, (iii) such
transfer is not required to be reported with the Securities and Exchange Commission in accordance with the Exchange Act and no report
of such transfer shall be made voluntarily, and (iv) neither the undersigned nor any donee, trustee, distributee or transferee, as
the case may be, otherwise voluntarily effects any public filing or report regarding such transfers, with respect to transfer:

 

	 	i)	as a bona fide gift or gifts;

 

	 	ii)	to any immediate family member or to any trust for the direct or indirect benefit of the undersigned or the immediate family of the undersigned (for purposes of this Letter Agreement, “immediate family” shall mean any relationship by blood, marriage or adoption, not more remote than first cousin);

 

     

     

    

 

	 	iii)	to any corporation, partnership, limited liability company, or other business entity, all of the equity holders of which consist of the undersigned and/or the immediate family of the undersigned;

 

	 	iv)	if the undersigned is a corporation, partnership, limited liability company, trust or other business entity, (a) to another corporation, partnership, limited liability company, trust or other business entity that is an Affiliate of the undersigned or (b) in the form of a distribution to limited partners, limited liability company members or stockholders of the undersigned;

 

	 	v)	if the undersigned is a trust, to the beneficiary of such trust;

 

	 	vi)	by will, other testamentary document or intestate succession to the legal representative, heir, beneficiary or a member of the immediate family of the undersigned; or

 

	 	vii)	of securities purchased
in open market transactions after the Closing Date.

 

In addition, notwithstanding
the foregoing, this Letter Agreement shall not restrict the delivery of shares of Common Stock to the undersigned upon (i) exercise
any options granted under any employee benefit plan of the Company; provided that any shares of Common Stock or Securities acquired in
connection with any such exercise will be subject to the restrictions set forth in this Letter Agreement, or (ii) the exercise of
warrants; provided that such shares of Common Stock delivered to the undersigned in connection with such exercise are subject to the restrictions
set forth in this Letter Agreement.

 

Furthermore, the undersigned
may enter into any new plan established in compliance with Rule 10b5-1 of the Exchange Act; provided that (i) such plan may
only be established if no public announcement or filing with the Securities and Exchange Commission, or other applicable regulatory authority,
is made (or required to be made) in connection with the establishment of such plan during the Restricted Period, and (ii) no sale
of shares of Common Stock are made pursuant to such plan during the Restricted Period.

 

The undersigned acknowledges
that the execution, delivery and performance of this Letter Agreement is a material inducement to the Purchaser to complete the transactions
contemplated by the Purchase Agreement and the Company shall be entitled to specific performance of the undersigned’s obligations
hereunder. The undersigned hereby represents that the undersigned has the power and authority to execute, deliver and perform this Letter
Agreement, that the undersigned has received adequate consideration therefor and that the undersigned will indirectly benefit from the
closing of the transactions contemplated by the Purchase Agreement.

 

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This
Letter Agreement may not be amended or otherwise modified in any respect without the written consent of each of the Company and the undersigned.
This Letter Agreement shall be construed and enforced in accordance with the laws of the State of New York without regard to the principles
of conflict of laws. The undersigned hereby irrevocably submits to the exclusive jurisdiction of the United States District Court
sitting in the Southern District of New York and the courts of the State of New York located in Manhattan, for the purposes of any suit,
action or proceeding arising out of or relating to this Letter Agreement, and hereby waives, and agrees not to assert in any such suit,
action or proceeding, any claim that (i) it is not personally subject to the jurisdiction of such court, (ii) the suit, action
or proceeding is brought in an inconvenient forum, or (iii) the venue of the suit, action or proceeding is improper. The undersigned
hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by receiving
a copy thereof sent to the Company at the address in effect for notices to it under the Purchase Agreement and agrees that such service
shall constitute good and sufficient service of process and notice thereof. The undersigned hereby waives any right to a trial by jury.
Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. The undersigned
agrees and understands that this Letter Agreement does not intend to create any relationship between the undersigned and the Purchaser,
but that the Purchaser is a third-party beneficiary of this Letter Agreement.

 

This Letter Agreement shall
be binding on successors and assigns of the undersigned with respect to the Securities and any such successor or assign shall enter into
a similar agreement for the benefit of the Purchaser.

 

*** SIGNATURE PAGE FOLLOWS***

 

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This Letter Agreement may
be executed in two or more counterparts, all of which when taken together may be considered one and the same agreement.

 

	 	 

Signature

 

	 	 

Print Name

 

	 	 

Position in Company, if any

 

Address for Notice:

 

	 	 
	 	 
	 	 

 

By signing below, the Company
agrees to enforce the restrictions on transfer set forth in this Letter Agreement.

 

	T STAMP Inc.	 
	 	 
	By:	 	 
	Name:	 	 
	Title:	 	 

 

    4Exhibit 10.4

 

September 11, 2022

 

Mr. Gareth Genner

Chief Executive Officer

T Stamp Inc.

3017 Bolling Way NE, Floors 1 and 2

Atlanta, GA 30305

 

Dear Mr. Genner:

 

This letter (the “Agreement”)
constitutes the agreement between Maxim Group LLC (“Maxim” or the “Placement Agent”) and T Stamp
Inc., a Delaware corporation (the “Company”), that Maxim shall serve as the exclusive placement agent for the Company,
on a “commercially reasonable efforts” basis, in connection with the proposed private placement (the “Placement”)
of shares (the “Shares”) of the Company’s common stock, par value $0.01 (the “Common Stock”),
pre-funded warrants to purchase Common Stock (the “Pre-Funded Warrants”) and warrants to purchase Common Stock (collectively
with the Pre-Funded Warrants, the “Warrants,” and the shares issuable upon exercise of the Warrants, the “Warrant
Shares” and the Shares, Warrants and Warrant Shares, collectively, the “Securities”). The terms of the Placement
shall be mutually agreed upon by the Company, Maxim and the purchasers of the Securities (each, a “Purchaser” and collectively,
the “Purchasers”) and nothing herein constitutes that Maxim would have the power or authority to bind the Company or
any Purchaser or an obligation for the Company to issue any Securities or complete the Placement. This Agreement and the documents executed
and delivered by the Company and the Purchasers in connection with the Placement, including the Purchase Agreement (as hereinafter defined)
shall be collectively referred to herein as the “Transaction Documents.” Each date on which there is a closing (each
a “Closing”) of the Placement shall be referred to herein as a “Closing Date.” The Company expressly
acknowledges and agrees that Maxim’s obligations hereunder are on a commercially reasonable efforts basis only and that the execution
of this Agreement does not constitute a legal or binding commitment by Maxim to purchase the Securities or introduce the Company to investors
and does not ensure the successful placement of the Securities or any portion thereof or the success of Maxim with respect to securing
any other financing on behalf of the Company. The Placement Agent may retain other brokers or dealers to act as sub-agents or selected-dealers
on its behalf in connection with the Placement. The sale of the Securities to any Purchaser will be evidenced by a securities purchase
agreement (the “Purchase Agreement”) between the Company and such Purchaser in a form reasonably acceptable to the
Company and Maxim. Prior to the signing of the Purchase Agreement, officers of the Company will be available to answer inquiries from
prospective Purchasers.

 

Notwithstanding anything herein
to the contrary, in the event Maxim determines that any of the terms provided for hereunder shall not comply with a FINRA rule, including
but not limited to FINRA Rule 5110, then the Company shall agree to amend this Agreement in writing upon the request of Maxim to
comply with any such rules; provided that any such amendments shall not provide for terms that are less favorable to the Company.

 

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Unless otherwise provided,
all dollar amounts in this Agreement shall be U.S. dollars.

 

SECTION 1.
       COMPENSATION. As compensation for the services provided by Maxim hereunder, the Company
agrees to pay to Maxim:

 

(A)      A
cash fee payable in U.S. dollars equal to six percent (6%) of the gross proceeds received by the Company from Purchasers at each Closing
(the “Cash Compensation”). The Cash Compensation shall be paid by wire transfer on the date of each Closing of the
Placement from the gross proceeds of the Securities sold.

 

(B)       The
Company also agrees to reimburse Maxim at each Closing for all of Maxim’s reasonable accountable expenses, including, without limitation,
fees and disbursements of Maxim’s counsel and all travel and other out-of-pocket expenses, incurred by Maxim in connection with
the Placement, up to a maximum aggregate amount of $50,000. In the event this Agreement shall terminate prior to the consummation of the
Placement, Maxim shall be entitled to reimbursement of its actual, out-of-pocket accountable expenses (including legal fees) incurred
by the Placement Agent in connection with the Placement; provided, however, that such expenses shall not exceed $10,000, in the aggregate.
Expenses will be reimbursed on the date of the initial Closing or, if there is no Closing, on or prior to the Termination Date.

 

(C)       If
within twelve (12) months of the Closing, the Company completes any financing of equity or equity-linked capital-raising activity with,
or receives proceeds from, any of the investors that were contacted or introduced by the Placement Agent to the Company, then the Company
shall pay to the Placement Agent upon closing of such financing or receipt of such proceeds the compensation equivalent to that set forth
in Section 1(a) herein, provided, that, within five (5) business days of a written request from the Company following the
Termination Date, the Placement Agent provides a list to the Company of such investors.

 

SECTION 2.       REPRESENTATIONS
AND WARRANTIES OF THE COMPANY. Each of the representations and warranties (together with any related disclosures in any disclosure
schedules appended thereto) made by the Company to the Purchasers in the Transaction Documents, is hereby incorporated herein by reference
(as though fully restated herein) and is, as of the date of this Agreement, hereby made to, and in favor of, the Placement Agent. In addition
to the foregoing, the Company represents and warrants to the Placement Agent that:

 

(A)      (i) the
Company has full right, power and authority to enter into this Agreement and to perform all of its obligations hereunder; (ii) this
Agreement has been duly authorized and executed and constitutes a legal, valid and binding agreement of such party enforceable in accordance
with its terms; and (iii) the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby
does not conflict with or result in a breach of (y) the Company’s certificate of incorporation or by-laws or other charter
documents or (z) any agreement to which the Company is a party or by which any of its property or assets is bound.

 

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(B)       All
disclosure provided by the Company to the Placement Agent regarding the Company, its business and the transactions contemplated hereby,
taken together with all filings the Company has made with the Securities and Exchange Commission, is true and correct in all material
aspects and does not contain any untrue statement of a material fact or omit to state any material fact necessary in order to make the
statements made therein, in the light of the circumstances under which they were made, not misleading. Each filing made by the Company
with the Securities and Exchange Commission since January 1, 2022 did not at the time of release contain any untrue statement of
a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in
the light of the circumstances under which they were made, not misleading. To the best of the Company's knowledge and belief, other than
the current capital raising (of which this Agreement forms a part), no event or circumstance has occurred or information exists with respect
to the Company or its business, properties, prospects, operations or financial conditions, which, under the applicable laws, rules or
regulations, requires public disclosure or announcement by the Company but which has not been so publicly announced or disclosed.

 

(C)       The
Company has not taken and will not take any action, directly or indirectly, so as to cause the Placement to fail to be entitled to rely
upon the exemption from registration afforded by Section 4(a)(2) of the Securities Act of 1933, as amended (the “Act”).
In effecting the Placement, the Company agrees to comply in all material respects with applicable provisions of the Act and any regulations
thereunder and any applicable laws, rules, regulations and requirements (including, without limitation, all U.S. state law and all national,
provincial, city or other legal requirements).

 

(D)       The
Company has the power to submit, and pursuant to Section 10 of this Agreement, has legally, validly, effectively and irrevocably
submitted, to the non-exclusive personal jurisdiction of the New York State Supreme Court, County of New York, and the United States District
Court for the Southern District of New York (each, a “New York Court”). The Company has the power to designate, appoint
and authorize, and pursuant to Section 10 of this Agreement, has legally, validly, effectively and irrevocably designated, appointed
an authorized agent for service of process in any action arising out of or relating to this Agreement or the Placement in any New York
Court, and service of process effected on such authorized agent will be effective to confer valid personal jurisdiction over the Company
as provided in Section 10 of this Agreement.

 

SECTION 3.
      REPRESENTATIONS OF MAXIM. Maxim represents and warrants that it (i) is a member in good
standing of FINRA, (ii) is registered as a broker/dealer under the Securities Exchange Act of 1934, as amended, (iii) is licensed
as a broker/dealer under the laws of the states applicable to the offers and sales of the Securities by Maxim, (iv) is and will be
a body corporate validly existing under the laws of its place of incorporation; (v) has full power and authority to enter into and
perform its obligations under this Agreement, (vi) the Placement Agent has not taken and will not take any action, directly or indirectly,
so as to cause the Placement to fail to be entitled to rely upon the exemption from registration afforded by Section 4(a)(2) of
the Act; (vii) in effecting the Placement, the Placement Agent agrees to comply in all material respects with applicable provisions
of the Act and any regulations thereunder and any applicable laws, rules, regulations and requirements (including, without limitation,
all U.S. state law and all national, provincial, city or other legal requirements), (viii) this Agreement has been duly authorized
and executed and constitutes a legal, valid and binding agreement of Maxim enforceable in accordance with its terms, and (ix) neither
the Placement Agent, any person compensated for soliciting investors in the Placement, nor any general partner, managing member, executive
officer, director or officer of the Placement Agent participating in the Placement is subject to any of the “Bad Actor” disqualifications
described in Rule 506(d)(1)(i) to (viii) under the Securities Act (a “Disqualification Event”), except
for a Disqualification Event covered by Rule 506(d)(2). Maxim will immediately notify the Company in writing of any change in its
status as such. Maxim covenants that it will use its reasonable best efforts to conduct the Transaction hereunder in compliance with the
provisions of this Agreement and the requirements of applicable law.

 

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SECTION 4.       INDEMNIFICATION.
The Company agrees to the indemnification and other agreements set forth in the Indemnification Provisions (the “Indemnification”)
attached hereto as Addendum A, the provisions of which are incorporated herein by reference and shall survive the termination or
expiration of this Agreement.

 

SECTION 5.       ENGAGEMENT
TERM.

 

(A)      The
Placement Agent’s engagement hereunder shall be until the earlier of (i) the final Closing Date of the Placement and (ii) the
date a party terminates the engagement according to the terms of the next sentence (such date, the “Termination Date”).
The engagement will remain in effect for three (3) months, after which it may be terminated at any time by either party upon 10 days
written notice to the other party, effective upon receipt of written notice to that effect by the other party. The engagement hereunder
may also be earlier terminated for Cause. “Cause,” for the purpose of this Agreement, shall mean, as determined by
a court of competent jurisdiction, the Placement Agent’s gross negligence, willful misconduct, or material breach of this Agreement,
after being notified in writing of such conduct, and not curing such alleged conduct within ten (10) days of notification.

 

(B)       Notwithstanding
anything herein to the contrary, Section 1, Section 4, this Section 5, Sections 10, 11 and 12 and all of Addendum A
attached hereto (the terms of which are incorporated by reference hereto), will survive any termination or expiration of this Agreement.
The termination of this Agreement shall not affect the Company's obligation to pay fees to the extent provided for in Section 1 herein
and shall not affect the Company's obligation to reimburse the expenses accruing prior to such Termination Date to the extent provided
for herein. All such accrued fees and reimbursements due shall be paid to the Placement Agent on or before the Termination Date (in the
event such fees and reimbursements are earned or owed as of the Termination Date) or upon the Closing of the Placement or any applicable
portion thereof (in the event such fees are due pursuant to the terms of Section 1 hereof).

 

SECTION 6.       MAXIM
INFORMATION. The Company agrees that any information or advice rendered by Maxim in connection with this engagement is for the confidential
use of the Company only in their evaluation of the Placement and, except as otherwise required by law, the Company will not disclose or
otherwise refer to the advice or information in any manner without Maxim’s prior written consent.

 

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SECTION 7.       NO
FIDUCIARY RELATIONSHIP; SECURITIES AND OTHER LAW COMPLIANCE.

 

(A)      This
Agreement does not create, and shall not be construed as creating rights enforceable by any person or entity not a party hereto, except
those entitled hereto by virtue of the Indemnification Provisions hereof. The Company acknowledges and agrees that Maxim is not and shall
not be construed as a fiduciary of the Company and shall have no duties or liabilities to the equity holders or the creditors of the Company
or any other person by virtue of this Agreement or the retention of Maxim hereunder, all of which are hereby expressly waived.

 

(B)       The
Company, at its own expense, will use its best efforts to obtain any registration, qualification or approval required to sell any Securities
under the laws (including U.S. state "blue sky" laws) of any applicable jurisdictions.

 

SECTION 8.       CLOSING.
The obligations of the Placement Agent hereunder, and the closing of the sale of the Securities pursuant to the Purchase Agreement are
subject to the accuracy, when made and on each Closing Date, of the representations and warranties on the part of the Company and its
subsidiaries contained herein and in the Purchase Agreement, to the accuracy of the statements of the Company and its subsidiaries made
in any certificates pursuant to the provisions hereof, to the performance by the Company and its subsidiaries of their obligations hereunder,
and to each of the following additional terms and conditions:

 

(A)      All
corporate proceedings and other legal matters incident to the authorization, form, execution, delivery and validity of each of this Agreement,
the Securities and all other legal matters relating to this Agreement and the transactions contemplated hereby shall be reasonably satisfactory
in all material respects to counsel for the Placement Agent, and the Company shall have furnished to such counsel all documents and information
that they may reasonably request to enable them to pass upon such matters.

 

(B)       The
Placement Agent shall have received as of each Closing Date the favorable opinions of each of Company Counsel (as defined in the Purchase
Agreement) and intellectual property counsel to the Company, dated as of such Closing Date, addressed to the Placement Agent in form and
substance satisfactory to the Placement Agent.

 

(C)       (i) Neither
the Company nor any of its subsidiaries shall have sustained, since the date of the latest audited or unaudited financial statements included
or incorporated by reference in its reports publicly filed with the Securities and Exchange Commission, any material loss or interference
with its business from fire, explosion, flood, terrorist act or other calamity, whether or not covered by insurance, or from any labor
dispute or court or governmental action, order or decree, otherwise than as set forth in or contemplated by the Purchase Agreement and
disclosure schedules thereto and (ii) since such date there shall not have been any change in the capital stock or long-term debt
of the Company or any of its subsidiaries or any change, or any development involving a prospective change, in or affecting the business,
general affairs, management, financial position, shareholders’ equity, results of operations or prospects of the Company and its
subsidiaries, otherwise as set forth in or contemplated by the Purchase Agreement and disclosure schedules thereto, the effect of which,
in any such case described in clause (i) or (ii), is, in the reasonable judgment of the Placement Agent, so material and adverse
as to make it impracticable or inadvisable to proceed with the sale or delivery of the Securities on the terms and in the manner contemplated
by the Purchase Agreement and disclosure schedules thereto.

 

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(D)      Subsequent
to the execution and delivery of this Agreement and up to the Closing Date, there shall not have occurred any of the following: (i) trading
in the Company’s securities generally on the applicable trading market shall have been suspended or minimum or maximum prices or
maximum ranges for prices shall have been established on any such exchange or such market by the Securities and Exchange Commission or
by such exchange or by any other regulatory body or governmental authority having jurisdiction, (ii) a banking moratorium shall have
been declared by federal or state authorities or a material disruption has occurred in commercial banking or securities settlement or
clearance services in the United States, (iii) the United States shall have become engaged in hostilities in which it is not currently
engaged, the subject of an act of terrorism, there shall have been an escalation in hostilities involving the United States, or there
shall have been a declaration of a national emergency or war by the United States, or (iv) there shall have occurred any other calamity
or crisis or any change in general economic, political or financial conditions in the United States or elsewhere, if the effect of any
such event in clause (iii) or (iv) that makes it, in the sole and reasonable judgment of the Placement Agent, impracticable
or inadvisable to proceed with the sale or delivery of the Securities on the terms and in the manner contemplated by the Purchase Agreement.

 

(E)       No
action shall have been taken and no statute, rule, regulation or order shall have been enacted, adopted or issued by any governmental
agency or body which would, as of the Closing Date, prevent the issuance or sale of the Securities or materially and adversely affect
the business or operations of the Company; and no injunction, restraining order or order of any other nature by any federal or state court
of competent jurisdiction shall have been issued as of the Closing Date which would prevent the issuance or sale of the Securities or
materially and adversely affect the business or operations of the Company.

 

(F)       The
Company shall have entered into a Purchase Agreement with each of the Purchasers and such agreements shall be in full force and effect
and shall contain representations, warranties and covenants of the Company as agreed between the Company and the Purchasers.

 

(G)       On
or prior to the Closing Date, the Company shall have furnished to the Placement Agent such further information, certificates and documents
as the Placement Agent may reasonably request, including a secretary certificate and officer certificate in form and substance reasonably
acceptable to the Placement Agent.

 

All opinions, letters, evidence
and certificates mentioned above or elsewhere in this Agreement shall be deemed to be in compliance with the provisions hereof only if
they are in form and substance reasonably satisfactory to counsel for the Placement Agent.

 

SECTION 9.      [RESERVED].

 

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SECTION 10.     GOVERNING
LAW. This Agreement will be governed by, and construed in accordance with, the laws of the State of New York applicable to agreements
made and to be performed entirely in such State. This Agreement may not be assigned by either party without the prior written consent
of the other party. This Agreement shall be binding upon and inure to the benefit of the parties hereto, and their respective successors
and permitted assigns. Any right to trial by jury with respect to any dispute arising under this Agreement or any transaction or conduct
in connection herewith is waived. Each of the Placement Agent and the Company: (i) agrees that any legal suit, action or proceeding
arising out of or relating to this Agreement and/or the transactions contemplated hereby shall be instituted exclusively in New York Supreme
Court, County of New York, or in the United States District Court for the Southern District of New York, (ii) waives any objection
which it may have or hereafter to the venue of any such suit, action or proceeding, and (iii) irrevocably consents to the jurisdiction
of the New York Supreme Court, County of New York, and the United States District Court for the Southern District of New York in any such
suit, action or proceeding. Each of the Placement Agent and the Company further agrees to accept and acknowledge service of any and all
process which may be served in any such suit, action or proceeding in the New York Supreme Court, County of New York, or in the United
States District Court for the Southern District of New York and agrees that service of process upon the Company mailed by certified mail
or private carrier (Federal Express, UPS or equivalent) to the Company’s address shall be deemed in every respect effective service
of process upon the Company, in any such suit, action or proceeding, and service of process upon the Placement Agent mailed by certified
mail or private carrier (Federal Express, UPS or equivalent) to the Placement Agent’s address shall be deemed in every respect effective
service process upon the Placement Agent, in any such suit, action or proceeding. Nothing contained herein shall be deemed to limit in
any way any right to serve process in any manner permitted by law. If either party shall commence an action or proceeding to enforce any
provisions of a Transaction Document, the prevailing party in such action or proceeding shall be reimbursed by the other party for its
attorney’s fees and other costs and expenses incurred with the investigation, preparation and prosecution of such action or proceeding.

 

SECTION 11.     ENTIRE
AGREEMENT/MISC. This Agreement (including the attached Indemnification Provisions) embodies the entire agreement and understanding
between the parties hereto, and supersedes all prior agreements and understandings, relating to the subject matter hereof. If any provision
of this Agreement is determined to be invalid or unenforceable in any respect, such determination will not affect such provision in any
other respect or any other provision of this Agreement, which will remain in full force and effect. This Agreement may not be amended
or otherwise modified or waived except by an instrument in writing signed by both Maxim and the Company. The representations, warranties,
agreements and covenants contained herein shall survive the closing of the Placement and delivery of the Securities, as applicable. This
Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one and the same agreement
and shall become effective when counterparts have been signed by each party and delivered to the other party, it being understood that
both parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission or a .pdf format
file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed)
with the same force and effect as if such facsimile or .pdf signature page were an original thereof. The Company agrees that the
Placement Agent may rely upon, and is a third party beneficiary of, the representations and warranties, and applicable covenants set forth
in any such purchase, subscription or other agreement with the Purchasers in the Placement.

 

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SECTION 12.     NOTICES.
Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and shall
be deemed given and effective on the earliest of (a) the date of transmission, if such notice or communication is sent via facsimile
or email transmission to the email address specified on the signature pages attached hereto, (b) the date of mailing, if sent
by certified mail or by private carrier (Federal Express, UPS or equivalent), or (c) upon actual receipt by the party to whom such
notice is required to be given. The address for such notices and communications shall be as set forth on the signature pages hereto.

 

SECTION 13.
    SECURITIES AND OTHER LAW COMPLIANCE. The Company, at its own expense, will use its best efforts to obtain any registration, qualification
or approval required to sell any securities under the laws (including U.S. state “blue-sky” laws) of any applicable jurisdictions
or any instrumentality thereof.

 

SECTION 14.     PRESS
ANNOUNCEMENTS. The Company agrees that the Placement Agent shall, from and after any Closing, have the right to reference the Placement
and the Placement Agent’s role in connection therewith in the Placement Agent’s marketing materials and on its website and
to place advertisements in financial and other newspapers and journals, in each case at its own expense.

 

[The remainder of this page has been intentionally left blank.]

 

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Please confirm that the foregoing
correctly sets forth our agreement by signing and returning to Maxim the enclosed copy of this Agreement.

 

	 	Very truly yours,
	 	 
	 	Maxim GROUP LLC
	 	 
	 	 	By:	/s/ Clifford A. Teller
	 	 	Name:	Clifford A. Teller
	 	 	Title:	Executive Managing Director, IB

 

Accepted and Agreed to as of the date first
written above:

 

	T STAMP Inc.	 
	 	 
	 	By:	/s/ Gareth Genner	 
	 	Name:	Gareth Genner	 
	 	Title:	Chief Executive Officer	 

 

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ADDENDUM A

 

INDEMNIFICATION PROVISIONS

 

Capitalized terms used in
this Addendum shall have the meanings ascribed to such terms in the Agreement to which this Addendum is attached:

 

In addition to and without
limiting any other right or remedy available to the Placement Agent and the Indemnified Parties (as hereinafter defined), the Company
agrees to indemnify and hold harmless Placement Agent and each of the other Indemnified Parties from and against any and all losses, claims,
damages, obligations, penalties, judgments, awards, liabilities, costs, expenses and disbursements, and any and all actions, suits, proceedings
and investigations in respect thereof and any and all legal and other costs, expenses and disbursements in giving testimony or furnishing
documents in response to a subpoena or otherwise (including, without limitation, the reasonable costs, expenses and disbursements, as
and when incurred, of investigating, preparing, pursing or defending any such action, suit, proceeding or investigation (whether or not
in connection with litigation in which any Indemnified Party is a party)) (collectively, "Losses"), directly or indirectly,
caused by, relating to, based upon, arising out of, or in connection with, Placement Agent's acting for the Company, including, without
limitation, any act or omission by Placement Agent in connection with its acceptance of or the performance or non-performance of its obligations
under the Agreement between the Company and Placement Agent to which these indemnification provisions are attached and form a part, any
breach by the Company of any representation, warranty, covenant or agreement contained in the Agreement (or in any instrument, document
or agreement relating thereto, including any agency agreement), or the enforcement by Placement Agent of its rights under the Agreement
or these indemnification provisions, except to the extent that any such Losses are found in a final judgment by a court of competent jurisdiction
(not subject to further appeal) to have resulted primarily and directly from the gross negligence or willful misconduct of the Indemnified
Party seeking indemnification hereunder.

 

The Company also agrees that
no Indemnified Party shall have any liability (whether direct or indirect, in contract or tort or otherwise) to the Company for or in
connection with the engagement of Placement Agent by the Company or for any other reason, except to the extent that any such liability
is found in a final judgment by a court of competent jurisdiction (not subject to further appeal) to have resulted primarily and directly
from such Indemnified Party's gross negligence or willful misconduct.

 

These Indemnification Provisions
shall extend to the following persons (collectively, the "Indemnified Parties"): Placement Agent, its present and former affiliated
entities, managers, members, officers, employees, legal counsel, agents and controlling persons (within the meaning of the federal securities
laws), and the officers, directors, partners, stockholders, members, managers, employees, legal counsel, agents and controlling persons
of any of them. These indemnification provisions shall be in addition to any liability, which the Company may otherwise have to any Indemnified
Party.

 

     

     

    

 

If any action, suit, proceeding
or investigation is commenced, as to which an Indemnified Party proposes to demand indemnification, it shall notify the Company with reasonable
promptness; provided, however, that any failure by an Indemnified Party to notify the Company shall not relieve the Company from its obligations
hereunder. An Indemnified Party shall have the right to retain counsel of its own choice to represent it, and the fees, expenses and disbursements
of such counsel shall be borne by the Company. Any such counsel shall, to the extent consistent with its professional responsibilities,
cooperate with the Company and any counsel designated by the Company. The Company shall be liable for any settlement of any claim against
any Indemnified Party made with the Company's written consent. The Company shall not, without the prior written consent of Placement Agent,
settle or compromise any claim, or permit a default or consent to the entry of any judgment in respect thereof, unless such settlement,
compromise or consent (i) includes, as an unconditional term thereof, the giving by the claimant to all of the Indemnified Parties
of an unconditional release from all liability in respect of such claim, and (ii) does not contain any factual or legal admission
by or with respect to an Indemnified Party or an adverse statement with respect to the character, professionalism, expertise or reputation
of any Indemnified Party or any action or inaction of any Indemnified Party.

 

In order to provide for just
and equitable contribution, if a claim for indemnification pursuant to these indemnification provisions is made but it is found in a final
judgment by a court of competent jurisdiction (not subject to further appeal) that such indemnification may not be enforced in such case,
even though the express provisions hereof provide for indemnification in such case, then the Company shall contribute to the Losses to
which any Indemnified Party may be subject (i) in accordance with the relative benefits received by the Company and its stockholders,
subsidiaries and affiliates, on the one hand, and the Indemnified Party, on the other hand, and (ii) if (and only if) the allocation
provided in clause (i) of this sentence is not permitted by applicable law, in such proportion as to reflect not only the relative
benefits, but also the relative fault of the Company, on the one hand, and the Indemnified Party, on the other hand, in connection with
the statements, acts or omissions which resulted in such Losses as well as any relevant equitable considerations. No person found liable
for a fraudulent misrepresentation shall be entitled to contribution from any person who is not also found liable for fraudulent misrepresentation.
The relative benefits received (or anticipated to be received) by the Company and its stockholders, subsidiaries and affiliates shall
be deemed to be equal to the aggregate consideration payable or receivable by such parties in connection with the transaction or transactions
to which the Agreement relates relative to the amount of fees actually received by Placement Agent in connection with such transaction
or transactions. Notwithstanding the foregoing, in no event shall the amount contributed by all Indemnified Parties exceed the amount
of fees previously received by Placement Agent pursuant to the Agreement.

 

Neither termination nor completion
of the Agreement shall affect these Indemnification Provisions which shall remain operative and in full force and effect. The Indemnification
Provisions shall be binding upon the Company and its successors and assigns and shall inure to the benefit of the Indemnified Parties
and their respective successors, assigns, heirs and personal representatives.

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