Document:

Exhibit 10.01

 

EXCHANGE
AGREEMENT

 

This
EXCHANGE AGREEMENT (the “Agreement”) is made as of the __ day of December, 2021 by and between BIGtoken, Inc.,
a Florida corporation, with its address at 2629 Townsgate Rd., Suite 215, Westlake Village, CA 91361 (the “Company”), and
SRAX, Inc., (including its successors and assigns, “SRAX”), with its address at 2629 Townsgate Road, Suite 215, Westlake
Village, CA 91361.

 

WHEREAS,
on February 4, 2021, the Company (fka Force Protection Video Equipment Corp.) and SRAX completed a share exchange transaction (the “Share
Exchange”);

 

WHEREAS,
pursuant to the Share Exchange, SRAX exchanged 100% of the shares of its wholly owned subsidiary, BIG Token, Inc., a Delaware corporation,
for 149,562,566,584 shares of the Company’s common stock (“Common Shares”) and 5,000,000 shares of the Company’s
Series A Preferred Stock (“Preferred Shares”);

 

WHEREAS,
on November 30, 2021, the Company completed a merger transaction with BritePool, Inc. whereby BritePool, Inc. became a wholly owned subsidiary
of the Company (“Brite Merger”);

 

WHEREAS,
as a condition of the Brite Merger, SRAX agreed to: (i) exchange all of its Common Shares for the Company’s non-voting Series D
Preferred Stock (“Series D Preferred Stock”) having the rights and preferences as contained in the certificate of designation
(“COD”) attached hereto as Exhibit A and (ii) cancel all the Preferred Shares;

 

WHEREAS,
subject to the terms and conditions set forth in this Agreement, in fulfillment of the conditions related to the Brite Merger and pursuant
to Section 3(a)(9) of the Securities Act of 1933, as amended (the “Securities Act”), the Company and SRAX have agreed to
exchange the Common Shares for 242,078 shares of Series D Preferred Stock (“Series D Shares”) which are convertible into
149,562,566,584 shares of the Company’s common stock (“Conversion Shares”) and cancel the Preferred Shares; and

 

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

 

1.
Exchange. On the Closing Date (as defined below), subject to the terms and conditions of this Agreement, the Company agrees to
issue SRAX the Series D Shares in exchange for the Common Shares. Subject to the conditions set forth below, the Exchange shall take
place at the offices of the Silvestre Law Group, P.C. (“SLG”), or at such time and place as the Company and SRAX mutually
agree (the “Closing” and the “Closing Date”). At the Closing, the following transactions shall
occur (such transactions in this Section 1, the “Exchange”):

 

1.1
On the Closing Date, in exchange for the Common Shares, the Company shall deliver to SRAX the Series D Shares. Upon receipt of the Series
D Shares in accordance with this Section 1.1, all of the SRAX rights under the Common Shares shall be extinguished and the Common Shares
will be retired.

 

    	1

     

    

 

1.2
On the Closing Date, as further consideration for the Exchange and the Series D Shares, SRAX will cancel the Preferred Shares. Upon receipt
of such Series D Shares in accordance with this Section 1.2, all of the SRAX’s rights under the Preferred Shares shall be extinguished
and the Preferred Shares will be retired.

 

1.3
The Company and the SRAX shall execute and/or deliver such other documents and agreements as are customary and reasonably necessary to
effectuate the Exchange and the undertakings described in Sections 1.1 and 1.2.

 

2.
Closing Conditions.

 

2.1
Conditions to SRAX’s Obligations. The obligation of SRAX to consummate the Exchange is subject to the fulfillment of, prior
to or at the Closing, of each of the following conditions:

 

(a)
Representations and Warranties. The representations and warranties of the Company contained in this Agreement shall be true and
correct in all material respects on the date hereof and on and as of the Closing Date as if made on and as of such date.

 

(b)
No Actions. No action, proceeding, investigation, regulation or legislation shall have been instituted, threatened or proposed
before any court, governmental agency or authority or legislative body to enjoin, restrain, prohibit or obtain substantial damages in
respect of, this Agreement or the consummation of the transactions contemplated by this Agreement.

 

(c)
Proceedings and Documents. All proceedings in connection with the transactions contemplated hereby and all documents and instruments
incident to such transactions shall be satisfactory in substance and form to SRAX, and SRAX shall have received all such counterpart
originals or certified or other copies of such documents as they may reasonably request.

 

(d)
Issuance of Series D Shares. The Company shall have issued to SRAX, the Series D Shares.

 

2.2
Conditions to the Company’s Obligations. The obligation of the Company to consummate the Exchange is subject to the fulfillment
prior to or at the Closing, of each of the following conditions:

 

(a)
Representations and Warranties. The representations and warranties of SRAX contained in this Agreement shall be true and correct
in all material respects on the date hereof and on and as of the Closing Date as if made on and as of such date.

 

(b)
No Actions. No action, proceeding, investigation, regulation or legislation shall have been instituted, threatened or proposed
before any court, governmental agency or authority or legislative body to enjoin, restrain, prohibit, or obtain substantial damages in
respect of, this Agreement or the consummation of the transactions contemplated by this Agreement.

 

    	2

     

    

 

(c)
Proceedings and Documents. All proceedings in connection with the transactions contemplated hereby and all documents and instruments
incident to such transactions shall be satisfactory in substance and form to the Company and the Company shall have received all such
counterpart originals or certified or other copies of such documents as the Company may reasonably request.

 

(d)
Cancellation of Preferred Shares. SRAX shall have authorized the cancelation of the Preferred Shares.

 

3.
Representations and Warranties of the Company. Except as contained, disclosed or modified in the attached disclosure schedules,
the Company hereby represents and warrants to SRAX that:

 

3.1
Organization and Qualification. The Company and each of its subsidiaries (each, a “Subsidiary”) is an entity duly
incorporated or otherwise organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation or
organization, with the requisite power and authority to own and use its properties and assets and to carry on its business as currently
conducted. Neither the Company nor any Subsidiary is in violation nor default of any of the provisions of its respective certificate
or articles of incorporation, bylaws or other organizational or charter documents. Each of the Company and the Subsidiaries is duly qualified
to conduct business and is in good standing as a foreign corporation or other entity in each jurisdiction in which the nature of the
business conducted or property owned by it makes such qualification necessary, except where the failure to be so qualified or in good
standing, as the case may be, could not have or reasonably be expected to result in: (i) a material adverse effect on the legality, validity
or enforceability of this Agreement or the transactions contemplated therein, (ii) a material adverse effect on the results of operations,
assets, business, prospects or condition (financial or otherwise) of the Company and the Subsidiaries, taken as a whole, or (iii) a material
adverse effect on the Company’s ability to perform in any material respect on a timely basis its obligations under this Agreement,
including the transactions contemplated therein (any of (i), (ii) or (iii), a “Material Adverse Effect”) and no legal proceeding
has been instituted in any such jurisdiction revoking, limiting or curtailing or seeking to revoke, limit or curtail such power and authority
or qualification.

 

3.2
Authorization; Enforcement. The Company has the requisite corporate power and authority to enter into and to consummate the transactions
contemplated by this Agreement, including but not limited to the Exchange. The execution and delivery of this Agreement, the Series D
Shares by the Company and the consummation by it of the transactions contemplated hereby and thereby have been duly authorized by all
necessary action on the part of the Company and no further action is required by the Company, the Board of Directors or the Company’s
stockholders in connection herewith or therewith. This Agreement and the Series D Shares have been duly executed by the Company and,
when delivered in accordance with the terms hereof and thereof, will constitute the valid and binding obligation of the Company enforceable
against the Company in accordance with its terms, except (i) as limited by general equitable principles and applicable bankruptcy, insolvency,
reorganization, moratorium and other laws of general application, (ii) as limited by laws relating to the availability of specific performance,
injunctive relief or other equitable remedies and (iii) insofar as indemnification and contribution provisions may be limited by applicable
law.

 

    	3

     

    

 

3.3
No Conflicts. The execution, delivery and performance by the Company of this Agreement, the issuance of the Series D Shares, the
Conversion Shares and the consummation by it of the transactions contemplated hereby and thereby do not and will not (i) conflict with
or violate any provision of the Company’s or any Subsidiary’s certificate or articles of incorporation, bylaws or other organizational
or charter documents, or (ii) conflict with, or constitute a default (or an event that with notice or lapse of time or both would become
a default) under, result in the creation of any lien upon any of the properties or assets of the Company or any Subsidiary, or give to
others any rights of termination, amendment, acceleration or cancellation (with or without notice, lapse of time or both) of, any agreement,
credit facility, debt or other instrument (evidencing a Company or Subsidiary debt or otherwise) or other understanding to which the
Company or any Subsidiary is a party or by which any property or asset of the Company or any Subsidiary is bound or affected, or (iii)
subject to any required approvals, conflict with or result in a violation of any law, rule, regulation, order, judgment, injunction,
decree or other restriction of any court or governmental authority to which the Company or a Subsidiary is subject (including federal
and state securities laws and regulations), or by which any property or asset of the Company or a Subsidiary is bound or affected; except
in the case of each of clauses (ii) and (iii), such as could not have or reasonably be expected to result in a Material Adverse Effect

 

3.4
Valid Issuance of the Securities. The Series D Shares and Conversion Shares are duly authorized and, when issued and paid for
in accordance with this Agreement and the Series D Shares, will be duly and validly issued, fully paid and nonassessable, free and clear
of all liens imposed by the Company other than restrictions on transfer provided for in the Agreement. The Conversion Shares, when issued
in accordance with the terms of the Series D Shares, will be validly issued, fully paid and nonassessable, free and clear of all liens
imposed by the Company other than restrictions on transfer provided for in this Agreement or required under applicable law. The Company
has reserved from its duly authorized capital stock a number of shares of the Company’s common stock for issuance upon conversion
of the Series D Shares at least equal to the maximum aggregate number of Conversion Shares potentially issuable in the future pursuant
to the Series D Shares, ignoring any conversion limits and / or beneficial ownership limitations set forth in the COD.

 

3.5
Compliance With Laws. The Company has not violated any law or any governmental regulation or requirement which violation has had
or would reasonably be expected to have a Material Adverse Effect on its business, and the Company has not received written notice of
any such violation.

 

3.6
Consents; Waivers. No consent, waiver, approval or authority of any nature, or other formal action, by any individual or corporation,
partnership, trust, incorporated or unincorporated association, joint venture, limited liability company, joint stock company, government
(or an agency or subdivision thereof) or other entity of any kind (each a “Person”), not already obtained, is required in
connection with the execution and delivery of this Agreement by the Company or the consummation by the Company of the transactions provided
for herein and therein.

 

    	4

     

    

 

3.7
Absence of Litigation. There is no action, suit, proceeding, inquiry or investigation before or by any court, public board, government
agency, self-regulatory organization or body pending or, to the knowledge of the Company, threatened against or affecting the Company,
the Series D Shares or any of the Company’s officers or directors in their capacities as such.

 

3.8
No Group. The Company acknowledges that, to the Company’s knowledge, SRAX is acting independently in connection with this
Agreement and the transactions contemplated hereby, and is not acting as part of a “group” as such term is defined under
Section 13(d) of the Securities Act and the rules and regulations promulgated thereunder.

 

3.9
SEC Reports. The Company has filed all reports, schedules, forms, statements and other documents required to be filed by the Company
under the Securities Act and the Securities Exchange Act of 1934, as amended, including pursuant to Section 13(a) or 15(d) thereof, for
the two years preceding the date hereof (or such shorter period as the Company was required by law or regulation to file such material)
(the foregoing materials, including the exhibits thereto and documents incorporated by reference therein, being collectively referred
to herein as the “SEC Reports”).

 

4.
Representations and Warranties of SRAX. SRAX hereby represents, warrants and covenants that:

 

4.1
Authorization. SRAX has full power and authority to enter into this Agreement, to perform its obligations hereunder and to consummate
the transactions contemplated hereby and has taken all action necessary to authorize the execution and delivery of this Agreement, the
performance of its obligations hereunder and the consummation of the transactions contemplated hereby.

 

4.2
Information. SRAX and its advisors, if any, have been furnished with all materials relating to the business, finances and operations
of the Company and materials relating to the offer and issuance of the Series D Shares and Conversion Shares which have been requested.
SRAX has had the opportunity to review the Company’s filings with the Securities and Exchange Commission (“SEC”).
SRAX and its advisors, if any, have been afforded the opportunity to ask questions of the Company. Neither such inquiries nor any other
due diligence investigations conducted by SRAX or its advisors, if any, or its representatives shall modify, amend or affect SRAX’s
right to rely on the Company’s representations and warranties contained herein. SRAX understands that its investment in the Series
D Shares and Conversion Shares involves a high degree of risk. SRAX has sought such accounting, legal and tax advice as it has considered
necessary to make an informed investment decision with respect to its acquisition of the Series D Shares. SRAX is relying solely on its
own accounting, legal and tax advisors, and not on any statements of the Company or any of its agents or representatives, for such accounting,
legal and tax advice with respect to its acquisition of the Series D Shares and Conversion Shares and the transactions contemplated by
this Agreement and the Series D Shares and Conversion Shares.

 

    	5

     

    

 

4.3
No Governmental Review. SRAX understands that no United States federal or state agency or any other government or governmental
agency has passed on or made any recommendation or endorsement of the Series D Shares or Conversion Shares or the fairness or suitability
of the investment in securities nor have such authorities passed upon or endorsed the merits of the offering of the Series D Shares or
Conversion Shares.

 

4.4
Validity; Enforcement; No Conflicts. This Agreement has been duly and validly authorized, executed and delivered on behalf of
SRAX and shall constitute the legal, valid and binding obligations of SRAX enforceable against SRAX in accordance with their terms, except
as such enforceability may be limited by general principles of equity or to applicable bankruptcy, insolvency, reorganization, moratorium,
liquidation and other similar laws relating to, or affecting generally, the enforcement of applicable rights and remedies. The execution,
delivery and performance by SRAX of this Agreement and the consummation by the SRAX of the transactions contemplated hereby will not
(i) result in a violation of the organizational documents of SRAX or (ii) conflict with, or constitute a default (or an event which with
notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment, acceleration or
cancellation of, any agreement, indenture or instrument to which SRAX is a party, or (iii) result in a violation of any law, rule, regulation,
order, judgment or decree (including federal and state securities or “blue sky” laws) applicable to SRAX, except in the case
of clause (ii) above, for such conflicts, defaults or rights which would not, individually or in the aggregate, reasonably be expected
to have a Material Adverse Effect on the ability of SRAX to perform its obligations hereunder.

 

4.5
Ownership of the Common and Preferred Shares. SRAX owns and holds, beneficially and of record, the entire right, title, and interest
in and to the Common Shares and Preferred Shares free and clear of all rights and liens. SRAX has full power and authority to transfer
and dispose of the Common Shares and Preferred Shares to the Company free and clear of any right or lien. Other than the transactions
contemplated by this Agreement, there is no outstanding vote, plan, pending proposal, or other right, of any Person to acquire all or
any part of the Common Shares or Preferred Shares or the Conversion Shares.

 

4.6
Offer Exempt from Registration. SRAX acknowledges that the offer, sale, issuance and delivery of the Series D Shares and Conversion
Shares is intended to be exempt from registration under the Securities Act, by virtue of Section 3(a)(9) thereof and SRAX understands
that the Series D Shares and Conversion Shares may be sold or transferred only in compliance with all federal and applicable state securities
laws.

 

4.7
No Commission Paid. Neither SRAX nor any of its affiliates nor any Person acting on behalf of or for the benefit of any of the
foregoing, has paid or given, or agreed to pay or give, directly or indirectly, any commission or other remuneration (within the meaning
of Section 3(a)(9) of the Securities Act and the rules and regulations of the SEC promulgated thereunder) for soliciting the Exchange.

 

5.
Additional Covenants.

 

5.1
Disclosure. The Company shall, on or before 9:30 a.m., New York City time, on the fourth business day after the date of this Agreement,
file a Current Report on Form 8-K (the “8-K Filing”) disclosing all material terms of the transactions contemplated
hereby and including this Agreement as an exhibit thereto, with the SEC.

 

    	6

     

    

 

5.2
Characteristics. The parties acknowledge and agree that in accordance with Section 3(a)(9) of the Securities Act, the Series D
Shares issued in exchange for the Common Shares and the Conversion Shares, when issued, take on the characteristics of such Common Shares
and the Company agrees not to take a position to the contrary.

 

5.3
Tacking. Subject to the truth and accuracy of SRAX’s representations set forth in Section 4 of this Agreement, the parties
acknowledge and agree that in accordance with Section 3(a)(9) of the Securities Act, Series D Shares issued in exchange for the Common
Shares, and the Conversion Shares when issued, will tack back to the original issue date of Common Shares, pursuant to Rule 144 and the
Company agrees not to take a position to the contrary.

 

5.4
Cancelation of Preferred Shares. SRAX acknowledges that the cancellation of the Preferred Shares is a material to the transaction
contemplated in this Agreement. SRAX agrees to execute and/or deliver such other documents and agreements as are customary and reasonably
necessary to effectuate the cancelation of the Preferred Shares.

 

5.5
Blue Sky. The Company shall make all filings and reports relating to the Exchange required under applicable securities or “Blue
Sky” laws of the states of the United States following the date hereof, if any.

 

5.6
Fees and Expenses. Each party shall pay the fees and expenses of its advisers, counsel, accountants and other experts, if any,
and all other expenses incurred by such party incident to the negotiation, preparation, execution, delivery and performance of this Agreement.

 

6.
Miscellaneous.

 

6.1
Successors and Assigns. Except as otherwise provided herein, the terms and conditions of this Agreement shall inure to the benefit
of and be binding upon the parties hereto and the respective 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.

 

6.2
Governing Law; Jurisdiction; 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 California, without giving effect to any choice of law or conflict
of law provision or rule (whether of the State of California or any other jurisdictions) that would cause the application of the laws
of any jurisdictions other than the State of California. Each party hereby irrevocably submits to the exclusive jurisdiction of the state
or federal courts sitting in The City of Los Angeles, 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 PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE
ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

    	7

     

    

 

6.3
Titles and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered
in construing or interpreting this Agreement.

 

6.4
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: (i) upon receipt, when delivered personally; (ii) upon receipt, when sent
by facsimile (provided confirmation of transmission is mechanically or electronically generated and kept on file by the sending party)
or by electronic mail; or (iii) one Business Day after deposit with an overnight courier service, in each case properly addressed to
the party to receive the same. The addresses, facsimile numbers and email addresses for such communications shall be as set forth on
the signature pages or such other address, facsimile number and/or email address and/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 (A) given by the recipient of such notice, consent, waiver or other communication, (B) mechanically or electronically
generated by the sender’s facsimile machine or email containing the time, date, recipient facsimile number and an image of the
first page of such transmission or (C) provided by an overnight courier service shall be rebuttable evidence of personal service, receipt
by facsimile or receipt from an overnight courier service in accordance with clause (i), (ii) or (iii) above, respectively.

 

6.5
Finder’s Fees. Each party represents that it neither is nor will be obligated for any finders’ fee or commission in
connection with this transaction.

 

6.6
Amendments and Waivers. Any term of this Agreement may be amended and the observance of any term of this Agreement may be waived
(either generally or in a particular instance and either retroactively or prospectively), only with the written consent of the Company
and 50.1% or greater the Series D Shares. Any amendment or waiver effected in accordance with this paragraph shall be binding upon SRAX,
or its assign, and the Company, provided that no such amendment shall be binding on SRAX or its assign if such party does not consent
thereto to the extent such amendment treats such party differently than any party that does consent thereto.

 

6.7
Severability. If one or more provisions of this Agreement are held to be unenforceable under applicable law, such provision shall
be excluded from this Agreement and the balance of the Agreement shall be interpreted as if such provision were so excluded and shall
be enforceable in accordance with its terms.

 

    	8

     

    

 

6.8
Entire Agreement. This Agreement represents the entire agreement and understanding between the parties concerning the Exchange
and the other matters described herein and therein and supersedes and replaces any and all prior agreements and understandings solely
with respect to the subject matter hereof and thereof.

 

6.9
Counterparts. 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.

 

6.10
Interpretation. Unless the context of this Agreement clearly requires otherwise, (a) references to the plural include the singular,
the singular the plural, the part the whole, (b) references to any gender include all genders, (c) “including” has the inclusive
meaning frequently identified with the phrase “but not limited to” and (d) references to “hereunder” or “herein”
relate to this Agreement.

 

6.11
No Third Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective permitted
successors and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other Person.

 

6.12
Survival. The representations, warranties and covenants of the Company and SRAX contained herein shall survive the Closing and
delivery of the Series D Shares.

 

6.13
Further Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and things, and
shall execute and deliver all such other agreements, certificates, instruments and documents, as any other party may reasonably request
in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated
hereby.

 

6.14
No Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to express
their mutual intent, and no rules of strict construction will be applied against any party.

 

[SIGNATURES
ON THE FOLLOWING PAGES]

 

    	9

     

    

 

IN
WITNESS WHEREOF, the parties have caused this Agreement to be duly executed and delivered as of the date provided above.

 

	 	THE
    COMPANY
	 	 
	 	BIGtoken,
    Inc.
	 	 	 
	 	By:	     
	 	Name:
    	 
	 	Title:	 
	 	 	 
	 	Address
    for Notice to Company:
	 	 
	 	Authorized
    Notice Recipient: 
	 	 	 
	 	Email:	 
	 	 	 
	 	Address:	 
	 	 	 
	 	Phone:	 

 

    	10

     

    

 

[SRAX
SIGNATURE PAGES TO EXCHANGE AGREEMENT]

 

IN
WITNESS WHEREOF, the parties have caused this Agreement to be duly executed and delivered as of the date provided above.

 

SRAX,
INC.

 

Signature
of Authorized Signatory of SRAX: __________________________________

 

Name
of Authorized Signatory: ____________________________________________________

 

Title
of Authorized Signatory: _____________________________________________________

 

Email
Address of Authorized Signatory: _____________________________________________

 

Facsimile
Number of Authorized Signatory: __________________________________________

 

Address
for Notice to SRAX:

 

Address
for Delivery of Series D Shares (if not same as address for notice):

 

    	11

     

    

 

EXHIBIT
A

CERTIFICATE
OF DESIGNATIONEX-4.1

 Exhibit 4.1 

SPECIMEN UNIT CERTIFICATE 
  

			
	 NUMBER U–[        ]
	  	[         ] UNITS
		
	 SEE REVERSE FOR CERTAIN DEFINITIONS
	  	CUSIP [         ]

 C5 ACQUISITION CORPORATION 

UNITS CONSISTING OF ONE SHARE OF CLASS A COMMON STOCK AND 

ONE-HALF OF ONE REDEEMABLE PUBLIC WARRANT, EACH WHOLE PUBLIC 

WARRANT ENTITLING THE HOLDER TO PURCHASE ONE SHARE OF 

CLASS A COMMON STOCK 
 THIS
CERTIFIES THAT [    ] is the owner of Units. 
 Each unit (“Unit”) consists of one
(1) share of Class A common stock, par value $0.0001 per share (“Class A Common Stock”), of C5 Acquisition Corporation, a Delaware corporation (the
“Corporation”), and one-half (1/2) of one redeemable public warrant (each whole public warrant, a “Public Warrant”). Each whole Public Warrant entitles the
holder to purchase one (1) share (subject to adjustment) of the Class A Common Stock for $11.50 per share (subject to adjustment). Only whole Public Warrants are exercisable. Each whole Public Warrant will become exercisable on the later
of (i) thirty (30) days after the Corporation’s completion of a merger, consolidation, capital stock exchange, asset acquisition, stock purchase, reorganization or other similar business combination with one or more businesses or entities
(each, a “Business Combination”) and (ii) twelve (12) months from the closing of the Corporation’s initial public offering, and will expire unless exercised before 5:00 p.m., New York City time, on the date that is
five (5) years after the date on which the Corporation completes its initial Business Combination, or earlier upon redemption or liquidation (the “Expiration Date”). The Class A Common Stock and Public Warrants
comprising the Units represented by this certificate are not transferable separately prior to [     ], 2022, unless Cantor Fitzgerald & Co. and Moelis & Company LLC elect to allow earlier separate trading,
subject to the Corporation’s filing of a Current Report on Form 8-K with the Securities and Exchange Commission containing an audited balance sheet reflecting the Corporation’s receipt of the gross
proceeds of the Corporation’s initial public offering and issuing a press release announcing when separate trading will begin. No fractional Public Warrants will be issued upon separation of the Units and only whole Public Warrants will trade.
The terms of the Public Warrants are governed by that certain public warrant agreement, dated as of [ ], 2022 (as amended, supplemented or otherwise modified from time to time, the “Public Warrant Agreement”), by and between
the Corporation and Continental Stock Transfer & Trust Company, as warrant agent (in such capacity, the “Warrant Agent”), and are subject to the terms and provisions contained therein, all of which terms and
provisions the holder of this certificate consents to by acceptance hereof. Copies of the Public Warrant Agreement are on file at the office of the Warrant Agent at One State Street, 30th Floor,
New York, New York 10004, and are available to any holder of a Public Warrant on written request and without cost. 

 Upon the consummation of an initial Business Combination, the Units represented by this
certificate will automatically separate into the shares of the Class A Common Stock and the Public Warrants comprising such Units. 

This certificate is not valid unless countersigned by Continental Stock Transfer & Trust Company, in its capacity as the transfer
agent, and registered by the registrar of the Corporation. 
 This certificate shall be governed by, and construed in accordance with, the
internal laws of the State of New York. 
 Witness the facsimile signature of its duly authorized officers. 

 

							
				
	By:	 	 	 	By:	 	 
		 	Name:	 		 	 Name:

		 	Title:	 		 	Title:

  
 2 

 C5 ACQUISITION CORPORATION 

The Corporation will furnish without charge to each holder of the Units who so requests a statement of the powers, designations, preferences
and relative, participating, optional or other special rights of each class of stock or series thereof of the Corporation and the qualifications, limitations or restrictions of such preferences and/or rights. 

The following abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they were written out
in full according to applicable laws or regulations: 
  

															
	 TEN COM
	  	 	—	 	  	 as tenants in common
	  	 UNIF GIFT MIN ACT —
	  	Custodian
	 TEN ENT
	  	 	—	 	  	 as tenants by the entireties
	  		  	 (Cust)
	 	 	  	(Minor)
	 JT TEN
	  	 	—	 	  	as joint tenants with right of survivorship and not as tenants in common	  		  	 
under Uniform Gifts to Minors Act

(State)

 Additional abbreviations may also be used though not in the above list. 

For value received, hereby sells, assigns and transfers unto 

(PLEASE INSERT SOCIAL SECURITY OR 
 OTHER IDENTIFYING NUMBER(S) OF
ASSIGNEE(S)) 
 (PLEASE PRINT OR TYPEWRITE NAME(S) AND ADDRESS(ES), INCLUDING ZIP 

CODE, OF ASSIGNEE(S)) 
 Units represented by the
within certificate, and does hereby irrevocably constitute and appoint 
 Attorney to transfer the said Units on the books of the within named
Corporation with full power of substitution in the premises. 
 Dated: _____________________ 

 

			
	Notice: The signature(s) to this assignment must correspond with the name as written upon the face of the certificate in every particular, without alteration or enlargement or any change whatsoever.

  
 3 

			
	Signature(s) Guaranteed:
		
		 	 
		 	THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO
S.E.C. RULE 17Ad-15 UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED (OR ANY SUCCESSOR RULE).

 As more fully described in the Corporation’s final prospectus, dated
[            ], 2022, the holder(s) of the Class A Common Stock shall be entitled to receive a pro rata portion of certain funds held in the trust account established in connection
with the Corporation’s initial public offering only in the event that (i) the holder(s) seek(s) to redeem for cash his, her or its respective shares of the Class A Common Stock in connection with a tender offer (or proxy solicitation,
solely in the event the Corporation seeks stockholder approval of the proposed initial business combination) setting forth the details of a proposed initial business combination, (ii) the Corporation redeems the shares of the Class A
Common Stock sold in its initial public offering in connection with a stockholder vote to amend the Corporation’s amended and restated certificate of incorporation (as further amended, supplemented or otherwise modified from time to time, the
“Certificate of Incorporation”) to modify the substance or timing of the Corporation’s obligation to allow redemptions in connection with an initial business combination or to redeem
one-hundred percent (100%) of the Class A Common Stock if it does not consummate an initial business combination by [             ] (or a later
date, if such period is extended pursuant to, and in accordance with, the Certificate of Incorporation) or with respect to any other material provision relating to stockholders’ rights or pre-initial
business combination activity or (iii) the Corporation redeems the shares of the Class A Common Stock sold in its initial public offering and liquidates because it does not consummate an initial business combination by
[            ] (or a later date, if such period is extended pursuant to, and in accordance with, the Certificate of Incorporation). In no other circumstances shall the holder(s) have any
right or interest of any kind in or to the trust account. 

  
 4

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