Document:

Exhibit 10.3

 

THIS WARRANT AND THE COMMON STOCK ISSUABLE
UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THIS WARRANT AND THE COMMON
STOCK ISSUABLE UPON EXERCISE OF THIS WARRANT MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE
REGISTRATION STATEMENT AS TO THIS WARRANT OR ANY SHARES ISSUABLE THEREUNDER UNDER SUCH ACT AND ANY APPLICABLE STATE SECURITIES
LAW OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO MYECHECK, INC. THAT SUCH REGISTRATION IS NOT REQUIRED.

 

MYECHECK, INC.

 

WARRANT #1 TO PURCHASE SHARES OF COMMON
STOCK

 

1.                 
Issuance. For good and valuable consideration as set forth in the Purchase Agreement (as defined below), including
without limitation the Initial Cash Purchase Price (as defined in the Purchase Agreement), the receipt and sufficiency of which
are hereby acknowledged by My ECheck, Inc., a Wyoming corporation (“Company”);
Typenex Co-Investment, LLC, a Utah limited liability company, its successors and/or
registered assigns (“Investor”), is hereby granted the right to purchase at any time on or after the Issue Date
(as defined below) until the date which is the last calendar day of the month in which the fifth anniversary of the Issue Date
occurs (the “Expiration Date”), a number of fully paid and non-assessable shares (the “Warrant Shares”)
of Company’s common stock, par value $0.00001 per share (the “Common Stock”), equal to $140,000.00 divided
by the Market Price (as of the Issue Date), as such number may be adjusted from time to time pursuant to the terms and conditions
of this Warrant #1 to Purchase Shares of Common Stock (this “Warrant”).

 

This Warrant is being
issued pursuant to the terms of that certain Securities Purchase Agreement dated October 29, 2015, to which Company and Investor
are parties (as the same may be amended from time to time, the “Purchase Agreement”). Certain capitalized terms
used herein are defined in Attachment 1 attached hereto and incorporated herein by this reference. Moreover, to the extent
any defined terms herein are defined in any other Transaction Document (as so noted herein), such defined term shall remain applicable
in this Warrant even if the other Transaction Document has been released, satisfied, or is otherwise cancelled. This Warrant was
issued to Investor on October 29, 2015 (the “Issue Date”). For the avoidance of doubt, the Initial Cash Purchase
Price constitutes payment in full for this Warrant.

 

2.                 
Exercise of Warrant.

 

2.1.           
General.

 

(a)               
This Warrant is exercisable in whole or in part at any time and from time to time commencing on the Issue Date and ending
on the Expiration Date. Such exercise shall be effectuated by submitting to Company (either by delivery to Company or by email
or facsimile transmission) a completed and signed Notice of Exercise substantially in the form attached to this Warrant as Exhibit
A (the “Notice of Exercise”). The date a Notice of Exercise is either faxed, emailed or delivered to Company
shall be the “Exercise Date,” provided that, if such exercise represents the full exercise of the outstanding
balance of this Warrant, Investor shall tender this Warrant to Company within five (5) Trading Days thereafter, but only if the
Delivery Shares to be delivered pursuant to the Notice of Exercise have been delivered to Investor as of such date. The Notice
of Exercise shall be executed by Investor and shall indicate (i) the number of Delivery Shares to be issued pursuant to such exercise,
and (ii) if applicable (as provided below), whether the exercise is a cashless exercise.

 

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(b)              
Notwithstanding any other provision contained herein or in any other Transaction Document to the contrary, at any time prior
to the Expiration Date, Investor may elect a “cashless” exercise of this Warrant for any Warrant Shares whereby Investor
shall be entitled to receive a number of shares of Common Stock equal to (i) the excess of the Current Market Value over the aggregate
Exercise Price of the Exercise Shares, divided by (ii) the Adjusted Price.

 

(c)               
If the Notice of Exercise form elects a “cash” exercise, the Exercise Price per share of Common Stock for the
Delivery Shares shall be payable, at the election of Investor, in cash or by certified or official bank check or by wire transfer
in accordance with instructions provided by Company at the request of Investor.

 

(d)              
Upon the appropriate payment to Company, if any, of the Exercise Price for the Delivery Shares, Company shall promptly,
but in no case later than the date that is three (3) Trading Days following the date the Exercise Price is paid to Company (or
with respect to a “cashless exercise,” the date that is three (3) Trading Days following the Exercise Date) (the “Delivery
Date”), deliver or cause Company’s Transfer Agent to deliver the applicable Delivery Shares electronically via
the DWAC system to the account designated by Investor on the Notice of Exercise. If for any reason Company is not able to so deliver
the Delivery Shares via the DWAC system, notwithstanding its best efforts to do so, such shall constitute a breach of this Warrant,
and Company shall instead, on or before the applicable date set forth above in this subsection, issue and deliver to Investor or
its broker (as designated in the Notice of Exercise), via reputable overnight courier, a certificate, registered in the name of
Investor or its designee, representing the applicable number of Delivery Shares. For the avoidance of doubt, Company has not met
its obligation to deliver Delivery Shares within the required timeframe set forth above unless Investor or its broker, as applicable,
has actually received the Delivery Shares (whether electronically or in certificated form) no later than the close of business
on the latest possible delivery date pursuant to the terms set forth above.

 

(e)               
If Delivery Shares are delivered later than as required under subsection (d) immediately above, Company agrees to pay, in
addition to all other remedies available to Investor in the Transaction Documents, a late charge equal to the greater of (i) $500.00
and (ii) 2% of the product of (1) the sum of the number of shares of Common Stock not issued to Investor on a timely basis
and to which Investor is entitled multiplied by (2) the Closing Trade Price of the Common Stock on the Trading Day immediately
preceding the last possible date which Company could have issued such shares of Common Stock to Investor without violating this
Warrant, rounded to the nearest multiple of $100.00 (such resulting amount, the “Warrant Share Value”) (but
in any event the cumulative amount of such late fees for each exercise shall not exceed 200% of the Warrant Share Value), per Trading
Day until such Warrant Shares are delivered (the “Late Fees”). Company acknowledges and agrees that the failure
to timely deliver Delivery Shares hereunder is a material breach of this Warrant and that the Late Fees are properly charged as
liquidated damages to compensate Investor for such breach. Company shall pay any Late Fees incurred under this subsection in immediately
available funds upon demand; provided, however, that, so long as the Note is outstanding, at the option of Investor, such
amount owed may be added to the principal amount of the Note. Furthermore, in the event that Company fails for any reason to effect
delivery of the Delivery Shares as required under subsection (d) immediately above, Investor may revoke all or part of the relevant
Warrant exercise by delivery of a notice to such effect to Company, whereupon Company and Investor shall each be restored to their
respective positions immediately prior to the exercise of the relevant portion of this Warrant, except that the Late Fees described
above shall be payable through the date notice of revocation or rescission is given to Company. Finally, in the event Company fails
to deliver any Delivery Shares to Investor for a period of ninety (90) days from the Delivery Date, Investor may elect, in its
sole discretion, to stop the accumulation of the Late Fees as of such date and require Company to pay to Investor a cash amount
equal to (i) the total amount of all Late Fees that have accumulated prior to the date of Investor’s election, plus (ii)
the product of the number of Delivery Shares deliverable to Investor on such date if it were to exercise this Warrant with respect
to the remaining number of Exercise Shares as of such date multiplied by the Closing Trade Price of the Common Stock on the Delivery
Date (the “Cash Settlement Amount”). At such time as Investor makes an election to require Company to pay to
it the Cash Settlement Amount, such obligation of Company shall be a valid and binding obligation of Company and shall for all
purposes be deemed to be a debt obligation of Company owed to Investor as of the date it makes such election. Upon Company’s
payment of the Cash Settlement Amount to Investor, this Warrant shall be deemed to have been satisfied. In addition, and for the
avoidance of doubt, even if Company could not deliver the number of Delivery Shares deliverable to Investor if it were to exercise
this Warrant with respect to the remaining number of Exercise Shares on the date of repayment due to the provisions of Section
2.2, the provisions of Section 2.2 will not apply with respect to Company’s payment of the Cash Settlement Amount.

 

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(f)               
Investor shall be deemed to be the holder of the Delivery Shares (not including any Ownership Limitation Shares (defined
below)) issuable to it in accordance with the provisions of this Section 2.1 on the Exercise Date.

 

2.2.           
Ownership Limitation. Notwithstanding anything to the contrary contained in this Warrant or the other Transaction
Documents, if at any time Investor shall or would be issued shares of Common Stock, but such issuance would cause Investor (together
with its affiliates) to own a number of shares exceeding 4.99% of the number of shares of Common Stock outstanding on such date
(the “Maximum Percentage”), Company must not issue to Investor shares of Common Stock which would exceed the
Maximum Percentage. The shares of Common Stock issuable to Investor that would cause the Maximum Percentage to be exceeded are
referred to herein as the “Ownership Limitation Shares”. In such event, Company shall reserve
the Ownership Limitation Shares for the exclusive benefit of Investor. From time to time, Investor may notify Company in writing
of the number of the Ownership Limitation Shares that may be issued to Investor without causing Investor to exceed the Maximum
Percentage. Upon receipt of such notice, Company shall be unconditionally obligated to immediately issue such designated shares
to Investor, with a corresponding reduction in the number of the Ownership Limitation Shares. Notwithstanding the foregoing, the
term “4.99%” above shall be replaced with “9.99%” at such time as the Market Capitalization is less than
$10,000,000.00. Notwithstanding any other provision contained herein, if the term “4.99%” is replaced with “9.99%”
pursuant to the preceding sentence, such change to “9.99%” shall be permanent. By written notice to Company, Investor
may increase, decrease or waive the Maximum Percentage as to itself but any such waiver will not be effective until the 61st day
after delivery thereof. The foregoing 61-day notice requirement is enforceable, unconditional and non-waivable and shall apply
to all affiliates and assigns of Investor.

 

3.                 
Mutilation or Loss of Warrant. Upon receipt by Company of evidence satisfactory to it of the loss, theft, destruction
or mutilation of this Warrant, and (in the case of loss, theft or destruction) receipt of reasonably satisfactory indemnification,
and (in the case of mutilation) upon surrender and cancellation of this Warrant, Company will execute and deliver to Investor a
new Warrant of like tenor and date and any such lost, stolen, destroyed or mutilated Warrant shall thereupon become void.

 

4.                 
Rights of Investor. Investor shall not, by virtue of this Warrant alone, be entitled to any rights of a stockholder
in Company, either at law or in equity, and the rights of Investor with respect to or arising under this Warrant are limited to
those expressed in this Warrant and are not enforceable against Company except to the extent set forth herein.

 

5.                 
Protection Against Dilution and Other Adjustments.

 

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5.1.           
Capital Adjustments. If Company shall at any time prior to the expiration of this Warrant subdivide the Common Stock,
by split-up or stock split, or otherwise, or combine its Common Stock, or issue additional shares of its Common Stock as a dividend,
the number of Warrant Shares issuable upon the exercise of this Warrant shall forthwith be automatically increased proportionately
in the case of a subdivision, split or stock dividend, or proportionately decreased in the case of a combination. Appropriate adjustments
shall also be made to the Exercise Price and other applicable amounts, but the aggregate purchase price payable for the total number
of Warrant Shares purchasable under this Warrant (as adjusted) shall remain the same. Any adjustment under this Section 5.1
shall become effective automatically at the close of business on the date the subdivision or combination becomes effective, or
as of the record date of such dividend, or in the event that no record date is fixed, upon the making of such dividend.

 

5.2.           
Reclassification, Reorganization and Consolidation. In case of any reclassification, capital reorganization, or change
in the capital stock of Company (other than as a result of a subdivision, combination, or stock dividend provided for in Section 5.1
above), then Company shall make appropriate provision so that Investor shall have the right at any time prior to the expiration
of this Warrant to purchase, at a total price equal to that payable upon the exercise of this Warrant, the kind and amount of shares
of stock and other securities and property receivable in connection with such reclassification, reorganization, or change by a
holder of the same number of shares of Common Stock as were purchasable by Investor immediately prior to such reclassification,
reorganization, or change. In any such case appropriate provisions shall be made with respect to the rights and interest of Investor
so that the provisions hereof shall thereafter be applicable with respect to any shares of stock or other securities and property
deliverable upon exercise hereof, and appropriate adjustments shall be made to the purchase price per Warrant Share payable hereunder,
provided the aggregate purchase price shall remain the same.

 

5.3.           
Subsequent Equity Sales. If Company or any subsidiary thereof, as applicable, at any time and from time to time while
this Warrant is outstanding, shall sell or grant any option to purchase, or sell or grant any right to reprice, or otherwise dispose
of, sell or issue (or announce any offer, sale, grant or any option to purchase or other disposition of) any Common Stock (including
any Common Stock issued under the Note, whether upon any type of conversion or any Deemed Issuance), preferred shares convertible
into Common Stock, or debt, warrants, options or other instruments or securities which are convertible into or exercisable for
shares of Common Stock (together herein referred to as “Equity Securities”), at an effective price per share
less than the Exercise Price (such lower price, the “Base Share Price”, and any such issuance, a “Dilutive
Issuance”) (if the holder of the Common Stock or Equity Securities so issued shall at any time, whether by operation
of purchase price adjustments, reset provisions, floating conversion, exercise or exchange prices or otherwise, or due to warrants,
options, or rights per share which are issued in connection with such issuance, be entitled to receive shares of Common Stock at
an effective price per share that is less than the Exercise Price, such issuance shall be deemed to have occurred for less than
the Exercise Price on such date of the Dilutive Issuance), then (a) the Exercise Price shall be reduced and only reduced to equal
the Base Share Price, and (b) the number of Warrant Shares issuable upon the exercise of this Warrant shall be increased to an
amount equal to the number of Warrant Shares Investor could purchase hereunder for an aggregate Exercise Price, as reduced pursuant
to subsection (a) above, equal to the aggregate Exercise Price payable immediately prior to such reduction in Exercise Price, provided
that the increase in the number of Exercise Shares issuable under this Warrant made pursuant to this Section 5.3 shall not at any
time exceed a number equal to three (3) times the number of Exercise Shares issuable under this Warrant as of the Issue Date (for
the avoidance of doubt, the foregoing cap on the number of Exercise Shares issuable hereunder shall only apply to adjustments made
pursuant to this Section 5.3 and shall not apply to adjustments made pursuant to Sections 5.1, 5.2 or any other section of this
Warrant). Such adjustments shall be made whenever such Common Stock or Equity Securities are issued. Company shall notify Investor,
in writing, no later than the Trading Day following the issuance of any Common Stock or Equity Securities subject to this Section
5.3, indicating therein the applicable issuance price, or applicable reset price, exchange price, conversion price, or other pricing
terms (such notice, the “Dilutive Issuance Notice”). Dilutive Issuance Notices shall be in the form set
forth in Section 6 below. For purposes of clarification, whether or not Company provides a Dilutive Issuance Notice pursuant to
this Section 5.3, upon the occurrence of any Dilutive Issuance, after the date of such Dilutive Issuance, Investor is entitled
to receive the increased number of Warrant Shares provided for in subsection (b) above at an Exercise Price equal to the Base Share
Price regardless of whether Investor accurately refers to the Base Share Price in the Notice of Exercise. Additionally, following
the occurrence of a Dilutive Issuance, all references in this Warrant to “Warrant Shares” shall be a reference to the
Warrant Shares as increased pursuant to subsection (b) above, and all references in this Warrant to “Exercise Price”
shall be a reference to the Exercise Price as reduced pursuant to subsection (a) above, as the same may occur from time to time
hereunder.

 

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5.4.           
Exceptions to Adjustment. Notwithstanding the provisions of Sections 5.3, no adjustment to the Exercise Price shall
be effected as a result of an Excepted Issuance.

 

6.                 
Certificate as to Adjustments. In each case of any adjustment or readjustment in the number or kind of shares issuable
on the exercise of this Warrant, or in the Exercise Price, pursuant to the terms hereof, Company at its expense will promptly cause
its Chief Financial Officer or other appropriate designee to compute such adjustment or readjustment in accordance with the terms
of this Warrant and prepare a certificate setting forth such adjustment or readjustment and showing in detail the facts upon which
such adjustment or readjustment is based, including a statement of (a) the consideration received or receivable by Company for
any additional shares of Common Stock issued or sold or deemed to have been issued or sold, (b) the number of shares of Common
Stock outstanding or deemed to be outstanding, and (c) the Exercise Price and the number of shares of Common Stock to be received
upon exercise of this Warrant, in effect immediately prior to such adjustment or readjustment and as adjusted or readjusted as
provided in this Warrant. Nothing in this Section 6 shall be deemed to limit any other provision contained herein.

 

7.                 
Transfer to Comply with the Securities Act. This Warrant and the Warrant Shares have not been registered under the
Securities Act of 1933, as amended (the “1933 Act”). Neither this Warrant nor the Warrant Shares may be sold,
transferred, pledged or hypothecated without (a) an effective registration statement under the 1933 Act relating to such security
or (b) an opinion of counsel reasonably satisfactory to Company that registration is not required under the 1933 Act; provided,
however, that the foregoing restrictions on transfer shall not apply to the transfer of the Warrant to an affiliate of Investor.
Until such time as registration has occurred under the 1933 Act, each certificate for this Warrant and any Warrant Shares shall
contain a legend, in form and substance satisfactory to counsel for Company, setting forth the restrictions on transfer contained
in this Section 7; provided, however, that Company acknowledges and agrees that any such legend shall be removed from all
certificates for DTC Eligible Common Stock delivered hereunder as such Common Stock is cleared and converted into electronic shares
by the DTC, and nothing contained herein shall be interpreted to the contrary. Upon receipt of a duly executed assignment of this
Warrant, Company shall register the transferee thereon as the new holder on the books and records of Company and such transferee
shall be deemed a “registered holder” or “registered assign” for all purposes hereunder, and shall have
all the rights of Investor under this Warrant. Until this Warrant is transferred on the books of Company, Company may treat Investor
as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

 

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8.                 
Notices. Any notice required or permitted hereunder shall be given in the manner provided in the subsection titled
“Notices” in the Purchase Agreement, the terms of which are incorporated herein by reference.

 

9.                 
Supplements and Amendments; Whole Agreement. This Warrant may be amended or supplemented only by an instrument in
writing signed by the parties hereto. This Warrant, together with the Purchase Agreement, contains the full understanding of the
parties hereto with respect to the subject matter hereof and thereof and there are no representations, warranties, agreements or
understandings with respect to the subject matter hereof and thereof other than as expressly contained herein and therein.

 

10.             
Purchase Agreement; Arbitration of Disputes; Calculation Disputes. This Warrant is subject to the terms, conditions
and general provisions of the Purchase Agreement, including without limitation the Arbitration Provisions (as defined in the Purchase
Agreement) set forth as an exhibit to the Purchase Agreement. In addition, notwithstanding the Arbitration Provisions, in the case
of a dispute as to any Calculation (as defined in the Purchase Agreement), such dispute will be resolved in the manner set forth
in the Purchase Agreement.

 

11.             
Governing Law; Venue. This Warrant shall be construed and enforced in accordance with, and all questions concerning
the construction, validity, interpretation and performance of this Warrant shall be governed by, the internal laws of the State
of Utah, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of Utah or any other
jurisdictions) that would cause the application of the laws of any jurisdictions other than the State of Utah. The provisions set
forth in the Purchase Agreement to determine the proper venue for any disputes are incorporated herein by this reference.

 

12.             
Waiver of Jury Trial. COMPANY IRREVOCABLY WAIVES ANY AND ALL RIGHTS IT MAY HAVE TO DEMAND THAT ANY ACTION, PROCEEDING
OR COUNTERCLAIM ARISING OUT OF OR IN ANY WAY RELATED TO THIS WARRANT OR THE RELATIONSHIPS OF THE PARTIES HERETO BE TRIED BY JURY.
THIS WAIVER EXTENDS TO ANY AND ALL RIGHTS TO DEMAND A TRIAL BY JURY ARISING UNDER COMMON LAW OR ANY APPLICABLE STATUTE, LAW, RULE
OR REGULATION. FURTHER, COMPANY ACKNOWLEDGES THAT IT IS KNOWINGLY AND VOLUNTARILY WAIVING ITS RIGHT TO DEMAND TRIAL BY JURY.

 

13.             
Remedies. The remedies at law of Investor under this Warrant in the event of any default or threatened default by
Company in the performance of or compliance with any of the terms of this Warrant are not and will not be adequate and, without
limiting any other remedies available to Investor in the Transaction Documents, at law or equity, to the fullest extent permitted
by law, such terms may be specifically enforced by a decree for the specific performance of any agreement contained herein or by
an injunction against a violation of any of the terms hereof or otherwise without the obligation to post a bond.

 

14.             
Liquidated Damages. Company and Investor agree that in the event Company fails to comply with any of the terms or
provisions of this Warrant, Investor’s damages would be uncertain and difficult (if not impossible) to accurately estimate
because of the parties’ inability to predict future interest rates, future share prices, future trading volumes and other
relevant factors. Accordingly, Investor and Company agree that any fees or other charges assessed under this Warrant are not penalties
but instead are intended by the parties to be, and shall be deemed, liquidated damages (under Investor’s and Company’s
expectations that any such liquidated damages will tack back to the Purchase Price Date for purposes of determining the holding
period under Rule 144 (as defined in the Purchase Agreement)).

 

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15.             
Counterparts. This Warrant may be executed in any number of counterparts and each of such counterparts shall for
all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.
Signatures delivered via facsimile or email shall be considered original signatures for all purposes hereof.

 

16.             
Attorneys’ Fees. In the event of any arbitration, litigation or dispute arising from this Warrant, the parties
agree that the party who is awarded the most money (which, for the avoidance of doubt, shall be determined without regard to any
statutory fines, penalties, fees, or other charges awarded to any party) shall be deemed the prevailing party for all purposes
and shall therefore be entitled to an additional award of the full amount of the attorneys’ fees and expenses paid by
said prevailing party in connection with arbitration or litigation without reduction or apportionment based upon the individual
claims or defenses giving rise to the fees and expenses. Nothing herein shall restrict or impair an arbitrator’s
or a court’s power to award fees and expenses for frivolous or bad faith pleading.

 

17.             
Severability. Whenever possible, each provision of this Warrant shall be interpreted in such a manner as to be effective
and valid under applicable law, but if any provision of this Warrant shall be invalid or unenforceable in any jurisdiction, such
provision shall be modified to achieve the objective of the parties to the fullest extent permitted and such invalidity or unenforceability
shall not affect the validity or enforceability of the remainder of this Warrant or the validity or enforceability of this Warrant
in any other jurisdiction.

 

18.             
Time is of the Essence. Time is expressly made of the essence with respect to each and every provision of this Warrant.

 

19.             
Descriptive Headings. Descriptive headings of the sections of this Warrant are inserted for convenience only and
shall not control or affect the meaning or construction of any of the provisions hereof.

 

[Remainder of page intentionally left
blank; signature page follows]

 

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IN WITNESS WHEREOF,
Company has caused this Warrant to be duly executed by an officer thereunto duly authorized as of the Issue Date.

 

	 	COMPANY:
	 	 	 
	 	MyECheck, Inc.
	 	 	 
	 	 	 
	 	By: 	/s/ Edward R. Starrs
	 	Printed Name:  	Edward R. Starrs
	 	Title: 	President

 

 

[Signature Page to Warrant #1]

 

     

     

    

 

ATTACHMENT 1

DEFINITIONS

 

For purposes
of this Warrant, the following terms shall have the following meanings:

 

A1.              
“Adjusted Price” means the lower of (i) the Exercise Price (as such Exercise Price may be adjusted from
time to time pursuant to the terms of this Warrant), and (ii) the Market Price.

 

A2.              
 “Approved Stock Plan” means any stock option plan which has been approved by the board of directors
of Company and is in effect as of the Issue Date, pursuant to which Company’s securities may be issued to any employee, officer
or director for services provided to Company.

 

A3.              
 “Bloomberg” means Bloomberg L.P. (or if that service is not then reporting the relevant information
regarding the Common Stock, a comparable reporting service of national reputation selected by Investor and reasonably satisfactory
to Company).

 

A4.              
“Closing Bid Price” and “Closing Trade Price” means the last closing bid price and
last closing trade price, respectively, for the Common Stock on its principal market, as reported by Bloomberg, or, if its principal
market begins to operate on an extended hours basis and does not designate the closing bid price or the closing trade price (as
the case may be) then the last bid price or last trade price, respectively, of the Common Stock prior to 4:00:00 p.m., New
York time, as reported by Bloomberg, or, if its principal market is not the principal securities exchange or trading market for
the Common Stock, the last closing bid price or last trade price, respectively, of the Common Stock on the principal securities
exchange or trading market where the Common Stock is listed or traded as reported by Bloomberg, or if the foregoing do not apply,
the last closing bid price or last trade price, respectively, of the Common Stock in the over-the-counter market on the electronic
bulletin board for the Common Stock as reported by Bloomberg, or, if no closing bid price or last trade price, respectively, is
reported for the Common Stock by Bloomberg, the average of the bid prices, or the ask prices, respectively, of any market makers
for the Common Stock as reported by OTC Markets Group, Inc., and any successor thereto. If the Closing Bid Price or the Closing
Trade Price cannot be calculated for the Common Stock on a particular date on any of the foregoing bases, the Closing Bid Price
or the Closing Trade Price (as the case may be) of the Common Stock on such date shall be the fair market value as mutually determined
by Investor and Company. If Investor and Company are unable to agree upon the fair market value of the Common Stock, then such
dispute shall be resolved in accordance with the procedures in the Purchase Agreement governing Calculations. All such determinations
shall be appropriately adjusted for any stock dividend, stock split, stock combination or other similar transaction during such
period.

 

A5.              
 “Conversion Factor” means 70%, subject to the following adjustments. If at any time the average
of the three (3) lowest Closing Bid Prices in the twenty (20) Trading Days immediately preceding any date of measurement is below
$0.01, then in such event the then-current Conversion Factor shall be permanently reduced by 10% (subject to other reductions set
forth in this section). Additionally, if at any time after the Issue Date, the Delivery Shares are not DWAC Eligible, then the
then-current Conversion Factor will automatically be permanently reduced by 5%. If at any time after the Issue Date, the Delivery
Shares are not DTC Eligible, then the then-current Conversion Factor will automatically be permanently reduced by 5%. For example,
the first time the Delivery Shares are not DWAC Eligible, the Conversion Factor for future exercises thereafter will be reduced
from 70% to 65% for purposes of this example. If, thereafter, the Delivery Shares are not DTC Eligible, the Conversion Factor for
all future exercises will automatically be permanently reduced from 65% to 60% for purposes of this example.

 

A6.              
“Current Market Value” means an amount equal to the Trade Price multiplied by the number of Exercise
Shares specified in the applicable Notice of Exercise.

 

A7.              
“Deemed Issuance” means an issuance of Common Stock that shall be deemed to have occurred on the latest
possible permitted date pursuant to the terms of this Warrant or the Note in the event Company fails to deliver shares of Common
Stock as and when required.

 

A8.              
“Delivery Shares” means those shares of Common Stock issuable and deliverable upon the exercise or partial
exercise, as the case may be, of this Warrant.

 

A9.              
“DTC” means the Depository Trust Company or any successor thereto.

 

     

     

    

 

A10.          
“DTC Eligible” means, with respect to the Common Stock, that such Common Stock is eligible to be deposited
in certificate form at the DTC, cleared and converted into electronic shares by the DTC and held in the name of the clearing firm
servicing Investor’s brokerage firm for the benefit of Investor.

 

A11.          
“DTC/FAST Program” means the DTC’s Fast Automated Securities Transfer program.

 

A12.          
 “DWAC” means the DTC’s Deposit/Withdrawal at Custodian System.

 

A13.          
“DWAC Eligible” means that (a) Company’s Common Stock is eligible at DTC for full services pursuant
to DTC’s operational arrangements, including without limitation transfer through DTC’s DWAC system, (b) Company has
been approved (without revocation) by the DTC’s underwriting department, (c) Company’s transfer agent is approved as
an agent in the DTC/FAST Program, (d) the Conversion Shares are otherwise eligible for delivery via DWAC; (e) Company has previously
delivered all Conversion Shares to Lender via DWAC; and (f) Company’s transfer agent does not have a policy prohibiting or
limiting delivery of the Conversion Shares via DWAC.

 

A14.          
“Excepted Issuances” means any shares of Common Stock, options, or convertible securities issued or issuable
in connection with any Approved Stock Plan; provided that the option term, exercise price or similar provisions of any issuance
pursuant to such Approved Stock Plan are not amended, modified or changed on or after the Purchase Price Date.

 

A15.          
“Exercise Price” means $0.03 per share of Common Stock, as the same may be adjusted from time to time
pursuant to the terms and conditions of this Warrant.

 

A16.          
“Exercise Shares” means those Warrant Shares subject to an exercise of this Warrant by Investor. By way
of illustration only and without limiting the foregoing, if (i) this Warrant is initially exercisable for 4,180,000 Warrant Shares
and Investor has not previously exercised this Warrant, and (ii) Investor were to make a cashless exercise with respect to 5,000
Warrant Shares pursuant to which 6,000 Delivery Shares would be issuable to Investor, then (1) this Warrant shall be deemed to
have been exercised with respect to 5,000 Exercise Shares, (2) this Warrant would remain exercisable for 4,175,000 Warrant Shares,
and (3) this Warrant shall be deemed to have been exercised with respect to 6,000 Delivery Shares.

 

A17.          
“Market Capitalization” means the product equal to (a) the average VWAP of the Common Stock for the immediately
preceding fifteen (15) Trading Days, multiplied by (b) the aggregate number of outstanding shares of Common Stock as reported on
Company’s most recently filed Form 10-Q or Form 10-K.

 

A18.          
 “Market Price” means the Conversion Factor multiplied by the average of the three (3) lowest Closing
Bid Prices in the twenty (20) Trading Days immediately preceding the applicable date of determination. By way of example only,
if the Conversion Factor were 75% and the average of the three lowest Closing Bid Prices in the twenty (20) Trading Days immediately
preceding the applicable date of conversion were $1.00 then the Market Price would be $0.75 (75% * $1.00).

 

A19.          
“Note” means that certain Convertible Promissory Note issued by Company to Investor pursuant to the Purchase
Agreement, as the same may be amended from time to time, and including any promissory note(s) that replace or are exchanged for
such referenced promissory note.

 

A20.          
“Trade Price” means mean the higher of: (i) the Closing Trade Price of the Common Stock on the Issue
Date; and (ii) the VWAP of the Common Stock for the Trading Day that is two (2) Trading Days prior to the Exercise Date.

 

A21.          
“Trading Day” means any day on the New York Stock Exchange is open for trading.

 

A22.          
“Transaction Documents” means the Purchase Agreement, the Note, this Warrant, and all other documents,
certificates, instruments and agreements entered into or delivered in conjunction therewith, as the same may be amended from time
to time.

 

A23.          
“VWAP” means the volume weighted average price of the Common stock on the principal market for a particular
Trading Day or set of Trading Days, as the case may be, as reported by Bloomberg.

 

     

     

    

 

EXHIBIT A

 

NOTICE OF EXERCISE OF WARRANT

 

		TO:	MYECHECK, INC.

ATTN: _______________

VIA FAX TO: (     )______________
EMAIL: ______________

 

The undersigned hereby
irrevocably elects to exercise the right, represented by the Warrant to Purchase Shares of Common Stock dated as of October 29,
2015 (the “Warrant”), to purchase shares of the common stock, $0.00001 par value (“Common Stock”),
of MyECheck, Inc., and tenders herewith payment in accordance with Section 2 of the Warrant, as follows:

 

		_______	CASH: $__________________________ = (Exercise Price x
Delivery Shares)

 

		_______	Payment is being made by:

		_____	enclosed check

		_____	wire transfer

		_____	other

 

		_______	CASHLESS EXERCISE:

 

Net number of Delivery
Shares to be issued to Investor: ______*

 

	* based on:	 	Current Market Value - (Exercise Price x Exercise Shares)	 
	 	 	Adjusted Price	 

 

	Where:	 	 	 
	Trade Price [“TP”] 	 =	$____________	 
	Exercise Shares	 =	_____________	 
	Current Market Value [TP x Exercise Shares] 	 =	$____________	 
	Exercise Price	 =	$____________	 
	Adjusted Price	 =	$____________	 

 

Capitalized terms
used but not otherwise defined herein shall have the meanings ascribed to them in the Warrant.

 

It is the intention
of Investor to comply with the provisions of Section 2.2 of the Warrant regarding certain limits on Investor’s right to receive
shares thereunder. Investor believes this exercise complies with the provisions of such Section 2.2. Nonetheless, to the extent
that, pursuant to the exercise effected hereby, Investor would receive more shares of Common Stock than permitted under Section
2.2, Company shall not be obligated and shall not issue to Investor such excess shares until such time, if ever, that Investor
could receive such excess shares without violating, and in full compliance with, Section 2.2 of the Warrant.

 

As contemplated by
the Warrant, this Notice of Exercise is being sent by email or by facsimile to the fax number and officer indicated above.

 

If this Notice of
Exercise represents the full exercise of the outstanding balance of the Warrant, Investor will surrender (or cause to be surrendered)
the Warrant to Company at the address indicated above by express courier within five (5) Trading Days after the Warrant Shares
to be delivered pursuant to this Notice of Exercise have been delivered to Investor.

 

 

Exhibit A to Warrant #1, Page 1

 

     

     

    

 

To the extent the
Delivery Shares are not able to be delivered to Investor via the DWAC system, please deliver certificates representing the Delivery
Shares to Investor via reputable overnight courier after receipt of this Notice of Exercise (by facsimile transmission or otherwise)
to:

 

_____________________________________

_____________________________________

_____________________________________

 

Dated: _____________________

 

___________________________

[Name of Investor]

 

By:________________________

 

 

Exhibit A to Warrant #1, Page 2EX-4.2

 Exhibit 4.2 

REGISTRATION RIGHTS AGREEMENT 
 THIS
REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made and entered into as of                      by and between
                     (the “Company”), a company incorporated under the laws of Singapore, and Kenon Holdings Ltd., a company
incorporated under the laws of Singapore (“Kenon”). The Company and Kenon are referred to collectively herein as the “Parties.” 

WHEREAS, the Company is a power generation holding company that is intending to register its outstanding ordinary shares under the U.S. Securities Act
of 1933 (the “Securities Act”) with the U.S. Securities and Exchange Commission (the “Commission”) and list them for trading on the New York Stock Exchange
(“NYSE”) under the symbol “ICP”; 
 WHEREAS, unless the context otherwise requires,
capitalized terms used and not otherwise defined herein shall have the meanings ascribed in Section 1; 
 WHEREAS, following the initial
public offering and sale of the Company’s ordinary shares (the “Ordinary Shares”) by the Company in its initial public offering, Kenon expects to own
                     Ordinary Shares, constituting approximately
                    % of the Ordinary Shares to be outstanding following this offering; 

WHEREAS, the Parties intend that the registration rights set forth in this Agreement be applicable to all outstanding Ordinary Shares which are or may
be owned by Kenon and by any of its Affiliates at any time during the term of this Agreement, and to all of the Ordinary Shares that may be issued or granted at any time in the future on account or by virtue of such Ordinary Shares, as set out in
the definition of Registrable Securities below; 
 NOW, THEREFORE, IN CONSIDERATION of the mutual covenants and agreements contained in this
Agreement, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Parties hereby agree as follows: 
  

	1.	Definitions 

 As used in this Agreement, the following terms shall have the respective
meanings set forth in this Section 1: 
 “Affiliate” of any specified Person means any other person
which, directly or indirectly, is in control of, is controlled by, or is under common control with, such specified Person. For purposes of this definition, control of a Person means the power, direct or indirect, to direct or cause the direction of
the management and policies of such Person, whether through ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 

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

“Automatic Shelf Registration Statement” means an “automatic shelf registration statement” as defined under
Rule 405. 

 “Business Day” means any day other than a Saturday, a Sunday or a day on
which commercial banks in New York, New York, Singapore, London, United Kingdom or Lima, Peru, are required or authorized to be closed. 

“Commission” has the meaning set forth in the recitals. 

“Company” has the meaning set forth in the preamble, and includes any successor thereto. 

“Demand Notice” has the meaning set forth in Section 2(a). 

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

“Effective Date” means the time and date that a Registration Statement is first declared effective by the Commission or
otherwise becomes effective. 
 “Effectiveness Period” has the meaning set forth in Section 2(a). 

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

“Indemnified Persons” has the meaning set forth in Section 5. 

“Kenon” has the meaning set forth in the recitals, and includes any transferee or assignee to whom Kenon assigns its
rights, in whole or in part, and any transferee or assignee thereof to whom a transferee or assignee assigns its rights, in accordance with Section 7. 

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

“NYSE” has the meaning set forth in the recitals. 

“Ordinary Shares” has the meaning set forth in the recitals. 

“Parties” has the meaning set forth in the preamble. 

“Person” means an individual or group, 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. 

“Piggyback Notice” has the meaning set forth in Section 2(b). 

“Piggyback Registration” has the meaning set forth in Section 2(b). 

“Piggyback Request” has the meaning set forth in Section 2(b). 

“Pledge Holder” has the meaning set forth in Section 7(e)(ii). 

“Proceeding” means any action, claim, suit, proceeding or investigation (including a preliminary investigation or
partial proceeding, such as a deposition) pending or known to the Company to be threatened. 

  
 2 

 “Prospectus” means the prospectus included in a Registration Statement
(including a prospectus that includes any information previously omitted from a prospectus filed as part of an effective Registration Statement in reliance upon Rule 430A promulgated under the Securities Act), as amended or supplemented by any
prospectus supplement, with respect to the terms of the offering of any portion of the Registrable Securities covered by a Registration Statement and all other amendments and supplements to the Prospectus, including post-effective amendments, and
all material incorporated by reference or deemed to be incorporated by reference in such Prospectus. 
 “Registrable
Securities” means (i) any Ordinary Shares owned by Kenon during the term of this Agreement, and (ii) any shares issued or issuable with respect to such Ordinary Shares as a result of any stock split, stock dividend, rights
offering, recapitalization, merger, exchange or similar event or otherwise. 
 “Registration Expenses” has the
meaning set forth in Section 4. 
 “Registration Statement” means a registration statement in the form
required to register the resale of the Registrable Securities under the Securities Act and other applicable law, and including any Prospectus, amendments and supplements to each such registration statement or Prospectus, including pre- and
post-effective amendments, all exhibits thereto, and all material incorporated by reference or deemed to be incorporated by reference in such registration statement. 

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

“Rule 405” means Rule 405 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended
from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 

“Rule 415” means Rule 415 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended
from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 

“Rule 424” means Rule 424 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended
from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 

“Rule 433” means Rule 433 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended
from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 

“Securities Act” has the meaning set forth in the recitals. 

  
 3 

 “Selling Expenses” means all underwriting discounts, selling commissions
and stock transfer taxes applicable to the sale of Registrable Securities and fees and disbursements of counsel for Kenon. 

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

“Suspension Period” has the meaning set forth in Section 2(a). 

“Trading Day” means a day during which trading in the Ordinary Shares generally occurs on the NYSE. 

“Unaffiliated Board Members” has the meaning set forth in Section 2(a)(iii). 

“WKSI” means a “well known seasoned issuer” as defined under Rule 405. 

Unless the context requires otherwise: (a) any pronoun used in this Agreement shall include the corresponding masculine, feminine or
neuter forms; (b) references to Articles and Sections refer to Articles and Sections of this Agreement; (c) the terms “include”, “includes”, “including” or words of like import shall be deemed to be followed
by the words “without limitation”; (d) the terms “hereof”, “herein” or “hereunder” refer to this Agreement as a whole and not to any particular provision of this Agreement; (e) unless the context
otherwise requires, the term “or” is not exclusive and shall have the inclusive meaning of “and/or”; (f) defined terms herein will apply equally to both the singular and plural forms and derivative forms of defined terms
will have correlative meanings; (g) references to any law or statute shall include all rules and regulations promulgated thereunder, and references to any law or statute shall be construed as including any legal and statutory provisions
consolidating, amending, succeeding or replacing the applicable law or statute; (h) references to any Person include such Person’s successors and permitted assigns; and (i) references to “days” are to calendar days unless
otherwise indicated. 
  

	2.	Registration 

  

	 	(a)	Demand Registration 

  

	 	(i)	Kenon shall have the option and right, exercisable by delivering a written notice to the Company (a “Demand Notice”), to require the Company to, pursuant to the terms of and subject to the
limitations contained in this Agreement, prepare and file with the Commission a Registration Statement registering the offering and sale of the number and type of Registrable Securities on the terms and conditions specified in the Demand Notice in
accordance with the intended timing and method or methods of distribution thereof specified in the Demand Notice, which may include sales on a delayed or continuous basis pursuant to Rule 415 (the “Demand Registration”).

  

	 	(ii)	 Following receipt of a Demand Notice, the Company shall file a Registration Statement as promptly as practicable covering all of the Registrable
Securities that Kenon requests on such Demand Notice to be included in such Demand Registration in accordance with the terms 

  
 4 

	 	
and conditions of this Agreement and shall use its reasonable best efforts to cause such Registration Statement to become effective under the Securities Act and remain effective under the
Securities Act for not less than twenty four (24) months following the Effective Date or such shorter period when all Registrable Securities covered by such Registration Statement have been sold (the “Effectiveness
Period”); provided, however, (i) that the Company shall not be required to effect the registration of Registrable Securities pursuant to this Section 2(a) unless the Registrable Securities are offered at an
aggregate proposed offering price of not less than $25 million and (ii) the Effectiveness Period shall be extended by one (1) day for each additional day during any Suspension Period in effect following the Effective Date applicable
thereto pursuant to Section 2(a)(iii). Subject to the other limitations contained in this Agreement, the Company is not obligated hereunder to effect more than three (3) Demand Registrations in any twelve (12) month period. A
registration will not count as a requested registration under this Section 2(a) until the Registration Statement relating to such registration has been declared effective by the Commission and unless Kenon was able to register all the
Registrable Securities requested by it to be included in such registration. 

  

	 	(iii)	Notwithstanding any other provision of this Section 2(a), the Company shall: 

(A) not be required to file a Registration Statement pursuant to this Section 2(a) during the period starting with the date
thirty (30) days prior to a good faith estimate by the majority of the members of the board of directors of the Company (excluding any members of the board of directors that are employees or Affiliates of Kenon (other than directors that are
“independent” under NYSE standards)) (the “Unaffiliated Board Members”), of the date of filing of, and ending on a date ninety (90) days after the effective date of, a Company initiated registration;
provided that the Company is actively employing its reasonable best efforts to cause such registration statement to become effective; 

(B) not be required to effect a registration or file a Registration Statement for a period of up to one hundred twenty (120) days
after the date of a Demand Notice for registration pursuant to this Section 2(a) if at the time of such request (1) the Company is engaged, or has plans to engage, within thirty (30) days of the time of such Demand Notice, in a
firm commitment underwritten public offering of Ordinary Shares, or (2) the Company is currently engaged in a self-tender or exchange offer and the filing of a Registration Statement would cause a violation of the Exchange Act; 

(C) not be required to effect a registration or file a Registration Statement for a period of up to ninety (90) days, if
(1) the Unaffiliated Board Members determine such registration would render the Company unable to comply with applicable securities laws or (2) the 

  
 5 

 
Unaffiliated Board Members determine such registration would require premature disclosure of material information that the Company has a bona fide business purpose for preserving as confidential;
or 
 (D) if the Company has filed a “shelf” registration statement pursuant to a Demand Notice under this
Section 2(a) and has included Registrable Securities therein (each such Registration Statement, a “Shelf Registration Statement”), be entitled to suspend, for a reasonable period of time not in excess of 45
consecutive days and not more than 90 days in any 12-month period (except as a result of a review of any post-effective amendment by the Commission before declaring any post-effective amendment to the Registration Statement effective;
provided, that the Company has used its reasonable best efforts to cause such post-effective amendment to be declared effective), the offer or sale of Registrable Securities pursuant to such registration statement by any holder of Registrable
Securities if: 
 (1) a “road show” is not then in progress with respect to a proposed offering of Registrable Securities by
such holder; and, 
 (2) either 

(A) the Unaffiliated Board Members, in good faith, determine that (i) the offer or sale of any shares of Ordinary Shares would
materially impede, delay or interfere with a significant transaction under negotiation by the Company, including any proposed financing, offer or sale of securities, acquisition, merger, tender offer, business combination, corporate reorganization,
or consolidation, (ii) after the advice of counsel, the sale of Ordinary Shares covered by the Shelf Registration Statement would require disclosure of non-public material information not otherwise required to be disclosed under applicable law,
and (iii) either (x) the Company has a bona fide business purpose for preserving the confidentiality of the proposed transaction, (y) disclosure would have a material adverse effect on the Company or the Company’s ability to
consummate the proposed transaction, or (z) the proposed transaction renders the Company unable to comply with requirements of the Commission; or 

(B) the Unaffiliated Board Members, in good faith, determine that the Company is required by law, rule or regulation to supplement the
Shelf Registration Statement or file a post-effective amendment to the Shelf Registration Statement in order to incorporate information into the Shelf Registration Statement for the purpose of (i) including in the Shelf Registration Statement
any Prospectus required under Section 10(a)(3) of the Securities Act or (ii) reflecting in the Prospectus included in the Shelf Registration Statement any facts or events arising after the effective date of the Shelf

  
 6 

 
Registration Statement (or the most recent post-effective amendment) that, individually or in the aggregate, represents a fundamental change in the information set forth in the Prospectus 

(any such period referred to in this Section 2(a)(iii), a “Suspension Period”); provided, however,
that in the event the Company postpones, defers or suspends any Demand Registration pursuant to Section 2(a)(iii)(C)(1) or (2) or Section 2(a)(iii)(D), then during such Suspension Period, the Company shall not engage in
any transaction involving the offer, issuance, sale, or purchase of Ordinary Shares (whether for the benefit of the Company or a third Person), except transactions involving the issuance or purchase of Ordinary Shares as contemplated by Company
employee benefit plans or employee or director arrangements. 
 In order to suspend the use of the registration statement pursuant to this
Section 2(a)(iii)(D), the Company shall promptly upon determining to seek such suspension, deliver to the holders of Registrable Securities included in such registration statement, a certificate signed by the Chief Executive Officer of
the Company stating that the Company is suspending use of such registration statement pursuant to Section 2(a)(iii)(D), the basis therefor in reasonable detail and a good faith estimate as to the anticipated duration of such suspension.

  

	 	(iv)	The Company may include in any such Demand Registration other Ordinary Shares for sale for its own account or for the account of any other Person; provided that if the managing underwriter for the offering
determines that the number of Ordinary Shares proposed to be offered in such offering would likely have an adverse effect in any material respect on the price, timing or distribution of the Ordinary Shares proposed to be included in such offering or
the market for the Ordinary Shares, then the Registrable Securities to be sold by Kenon shall be included in such registration before any Ordinary Shares proposed to be sold for the account of the Company or any other Person. 

 

	 	(v)	 Subject to the limitations contained in this Agreement, the Company shall effect any Demand Registration on Form F-3 (except if the Company is
not then eligible to register for resale the Registrable Securities on Form F-3, in which case such Demand Registration shall be effected on another appropriate form for such purpose pursuant to the Securities Act) and if the Company becomes, and is
at the time of its receipt of a Demand Notice, a WKSI, the Demand Registration for any offering and selling of Registrable Securities through a firm commitment underwriting shall be effected pursuant to an Automatic Shelf Registration Statement,
which shall be on Form F-3 or any equivalent or successor form under the Securities Act (if available to the Company); provided, however, that if at any time a Registration Statement on Form F-3 is effective and Kenon provides written
notice 

  
 7 

	 	
to the Company that it intends to effect an offering of all or part of the Registrable Securities included on such Registration Statement, the Company will amend or supplement such Registration
Statement as may be necessary in order to enable such offering to take place. 

  

	 	(vi)	Without limiting Section 3, in connection with any Demand Registration pursuant to and in accordance with this Section 2(a), the Company shall, (A) promptly prepare and file or cause to be
prepared and filed (1) such additional forms, amendments, supplements, prospectuses, certificates, letters, opinions and other documents, as may be necessary or advisable to register or qualify the securities subject to such Demand
Registration, including under the securities laws of such states as Kenon shall reasonably request; provided, however, that no such qualification shall be required in any jurisdiction where, as a result thereof, the Company would
become subject to general service of process or to taxation or qualification to do business in such jurisdiction solely as a result of registration and (2) such forms, amendments, supplements, prospectuses, certificates, letters, opinions and
other documents as may be necessary to apply for listing or to list the Registrable Securities subject to such Demand Registration on the NYSE and (B) do any and all other acts and things that may be necessary or appropriate or reasonably
requested by Kenon to enable Kenon to consummate a public sale of such Registrable Securities in accordance with the intended timing and method or methods of distribution thereof. 

 

	 	(b)	Piggyback Registration 

  

	 	(i)	If the Company shall at any time propose to file a Registration Statement, other than pursuant to any Demand Registration, for an offering of Ordinary Shares for cash (whether in connection with a public offering of
Ordinary Shares by the Company, a public offering of Ordinary Shares by shareholders, or both, but excluding an offering relating solely to an employee benefit plan, an offering relating to a transaction on Form F-4 or an offering on any
registration statement form that does not permit secondary sales), the Company shall promptly notify Kenon of such proposal reasonably in advance of (and in any event at least five (5) Trading Days before) the anticipated filing date (the
“Piggyback Notice”). The Piggyback Notice shall offer Kenon the opportunity to include for registration in such Registration Statement the number of Registrable Securities as it may request (a “Piggyback
Registration”). The Company shall include in each such Piggyback Registration such Registrable Securities for which the Company has received written requests within five (5) days after delivery to Kenon of the Piggyback Notice
(“Piggyback Request”) for inclusion therein. If Kenon decides not to include all of its Registrable Securities in any Registration Statement thereafter filed by the Company, Kenon shall nevertheless continue to have the right
to include any Registrable Securities in any subsequent registration statement or registration statements as may be filed by the Company with respect to offerings of Ordinary Shares, all upon the terms and conditions set forth herein.

  
 8 

	 	(ii)	If the Registration Statement under which the Company gives notice under this Section 2(b) is for an underwritten offering, the Company shall so advise Kenon. In such event, the right of Kenon to be included
in a registration pursuant to this Section 2(b) shall be conditioned upon Kenon’s participation in such underwriting and the inclusion of Kenon’s Registrable Securities in the underwriting to the extent provided herein. In the
event Kenon proposes to distribute its Registrable Securities through such underwriting, it shall enter into an underwriting agreement in customary form with the underwriter or underwriters selected for such underwriting by the Company. If the
managing underwriter or managing underwriters of such offering advise the Company and Kenon in writing that in their reasonable opinion that the inclusion of all of Kenon’s Registrable Securities in the subject Registration Statement (or any
other Ordinary Shares proposed to be included in such offering) would likely have an adverse effect in any material respect on the price, timing or distribution of the Ordinary Shares proposed to be included in such offering or the market for the
Ordinary Shares, the Company shall include in such offering only that number or amount, if any, of Ordinary Shares proposed to be included in such offering that, in the reasonable opinion of the managing underwriter or managing underwriters, will
not have such effect, with such number to be allocated as follows: (i) first, to the Company or the Person or Persons demanding such underwritten offering and (ii) if there remains availability for additional Ordinary Shares to be included
in such registration, second, to all other holders of Ordinary Shares (including Kenon) who are contractually entitled to “piggyback” registration rights that are equivalent to those described in this Section 2(b) and who may be
seeking to register such Ordinary Shares, pro-rata among them, based on the number of Ordinary Shares such other holders are entitled to include in such registration. If Kenon disapproves of the terms of any such underwriting, it may elect to
withdraw therefrom by written notice to the Company and the managing underwriter(s) delivered on or prior to the time of pricing of such offering. Any Registrable Securities withdrawn from such underwriting shall be excluded and withdrawn from the
registration. 

  

	 	(iii)	The Company shall have the right to terminate or withdraw any registration initiated by it under this Section 2(b) prior to the Effective Date of such Registration Statement whether or not Kenon has elected
to include Registrable Securities in such Registration Statement. The registration expenses of such withdrawn registration shall be borne by the Company in accordance with Section 4 hereof. 

 

	 	(c)	Subject to Section 2(a)(ii), all registration rights granted under this Section 2 shall continue to be applicable with respect to Kenon for so long as may be required for Kenon to sell all of the
Registrable Securities held by Kenon (without any limitation on volume, timing, recipients or intended method or methods of distribution, including through the use of an underwriter, that would not be applicable with a registration under the
Securities Act). 

  
 9 

	 	(d)	Any Demand Notice or Piggyback Request shall (i) specify the Registrable Securities intended to be offered and sold by Kenon, (ii) express Kenon’s present intent to offer such Registrable Securities for
distribution, (iii) describe the nature or method of the proposed offer and sale of Registrable Securities, which may include sales on a delayed or continuous basis and (iv) contain the undertaking of Kenon to provide all such information
and materials and take all action as may reasonably be required in order to permit the Company to comply with all applicable requirements in connection with the registration of such Registrable Securities. 

 

	 	(e)	Kenon shall not have any right to obtain or seek an injunction restraining or otherwise delaying any such registration as the result of any controversy that might arise with respect to the interpretation or
implementation of this Section 2. 

  

	 	(f)	The Company will not enter into any agreement during the term of this Agreement which would allow any holder of Ordinary Shares to include Ordinary Shares in any Registration Statement filed by the Company in a manner
that would violate or restrict in any material respect the rights granted to Kenon hereunder. 

  

	 	(g)	Any Registrable Security will cease to be an Registrable Security when (a) it has been sold or otherwise transferred by Kenon (other than a transfer by Kenon to an Affiliate or in conjunction with an assignment of
this Agreement permitted under Section 7) or (b) it is eligible for sale pursuant to Rule 144 (or any successor provision) under the Securities Act without restriction pursuant to such rule on the volume of securities that may be
sold in any single transaction. 

  

	3.	Registration Procedures 

 The procedures to be followed by the Company and Kenon in a
Registration Statement pursuant to this Agreement, and the respective rights and obligations of the Company and Kenon, with respect to the preparation, filing and effectiveness of such Registration Statement, are as follows: 

 

	 	(a)	The Company will, at least five (5) Business Days prior to the anticipated filing of a Registration Statement or any related Prospectus or any amendment or supplement thereto (other than amendments and supplements
that do nothing more than name Kenon and provide information with respect thereto), (i) unless available to Kenon through public filings with the Commission, furnish to Kenon and its underwriters, if any, copies of all such documents proposed
to be filed and (ii) use its reasonable efforts to address in each such document when so filed with the Commission such comments as Kenon reasonably shall propose within three (3) Business Days of the delivery of such copies to Kenon.

  
 10 

	 	(b)	The Company will use reasonable best efforts to as promptly as reasonably possible (i) prepare and file with the Commission such amendments, including post-effective amendments, and supplements to each Registration
Statement and the Prospectus used in connection therewith as may be necessary under applicable law to keep such Registration Statement continuously effective with respect to the disposition of all Registrable Securities covered thereby for its
Effectiveness Period and, subject to the limitations contained in this Agreement, prepare and file with the Commission such additional Registration Statements in order to register for resale under the Securities Act all of the Registrable Securities
held by Kenon; (ii) cause the related Prospectus to be amended or supplemented by any required prospectus supplement, and as so supplemented or amended to be filed pursuant to Rule 424; and (iii) respond to any comments received from the
Commission with respect to each Registration Statement or any amendment thereto and, as promptly as reasonably possible provide Kenon true and complete copies of all correspondence from and to the Commission relating to such Registration.

  

	 	(c)	The Company will comply in all material respects with the provisions of the Securities Act and the Exchange Act with respect to the Registration Statements and the disposition of all Registrable Securities covered by
each Registration Statement. 

  

	 	(d)	 The Company will notify Kenon as promptly as reasonably practicable: (i)(A) when a Prospectus or any prospectus supplement or post-effective amendment
to a Registration Statement is proposed to be filed; (B) when the Commission notifies the Company whether there will be a “review” of such Registration Statement and whenever the Commission comments in writing on such
Registration Statement; and (C) with respect to each Registration Statement or any post-effective amendment thereto, when the same has been declared effective; (ii) of any request by the Commission or any other federal or state
governmental authority for amendments or supplements to a Registration Statement or Prospectus or for additional information that pertains to Kenon as sellers of Registrable Securities; (iii) of the issuance by the Commission of any stop order
suspending the effectiveness of a Registration Statement covering any or all of the Registrable Securities or the initiation of any Proceedings for that purpose; (iv) of the receipt by the Company of any notification with respect to the
suspension of the qualification or exemption from qualification of any of the Registrable Securities for sale in any jurisdiction, or the initiation or threatening of any Proceeding for such purpose; and (v) of the occurrence of (but not the
nature or details concerning) any event or passage of time that makes any statement made in such Registration Statement or Prospectus or any document incorporated or deemed to be incorporated therein by reference untrue in any material respect or
that requires any revisions to such Registration Statement, Prospectus or other documents so that, in the case of such Registration Statement or the Prospectus, as the case may be, it will not contain any untrue statement of a material fact or omit
to state any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading (provided, however, that no

  
 11 

	 	
notice by the Company shall be required pursuant to this clause (v) in the event that the Company either promptly files a prospectus supplement to update the Prospectus or a Form 6-K or
other appropriate Exchange Act report that is incorporated by reference into the Registration Statement, which in either case, contains the requisite information that results in such Registration Statement no longer containing any untrue statement
of material fact or omitting to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading). 

 

	 	(e)	The Company will use its reasonable best efforts to avoid the issuance of, or, if issued, obtain the withdrawal of (i) any order suspending the effectiveness of a Registration Statement, or (ii) any suspension
of the qualification (or exemption from qualification) of any of the Registrable Securities for sale in any jurisdiction, at the earliest practicable moment, or if any such order or suspension is made effective during any Suspension Period, at the
earliest practicable moment after the Suspension Period is over. 

  

	 	(f)	During the Effectiveness Period, the Company will furnish to Kenon and its underwriter(s), if any, without charge, at least one conformed copy of each Registration Statement and each amendment thereto and all exhibits
to the extent requested by Kenon (including those incorporated by reference) promptly after the filing of such documents with the Commission; provided, that the Company will not have any obligation to provide any document pursuant to this
clause that is available on the Commission’s EDGAR system. 

  

	 	(g)	The Company will promptly deliver to Kenon and its underwriter(s), if any, without charge, as many copies of each Prospectus or Prospectuses (including each form of prospectus) and each amendment or supplement thereto
as Kenon and its underwriter(s), if any, may reasonably request during the Effectiveness Period. The Company consents to the use of such Prospectus and each amendment or supplement thereto by Kenon in connection with the offering and sale of the
Registrable Securities covered by such Prospectus and any amendment or supplement thereto. 

  

	 	(h)	The Company will facilitate the timely preparation and delivery of certificates representing Registrable Securities to be delivered to a transferee pursuant to a Registration Statement, which certificates shall be free
of all restrictive legends indicating that the Registrable Securities are unregistered or unqualified for resale under the Securities Act, Exchange Act or other applicable securities laws, and to enable such Registrable Securities to be in such
denominations and registered in such names as Kenon may request in writing. In connection therewith, if required by the Company’s transfer agent, the Company will promptly, after the Effective Date of the Registration Statement, cause an
opinion of counsel as to the effectiveness of the Registration Statement to be delivered to and maintained with its transfer agent, together with any other authorizations, certificates and directions required by the transfer agent which authorize
and direct the transfer agent to issue such Registrable Securities without any such legend upon sale by Kenon of such Registrable Securities under the Registration Statement. 

  
 12 

	 	(i)	Upon the occurrence of any event contemplated by Section 3(d)(v), subject to Section 2(a)(iii), as promptly as reasonably possible, the Company will prepare a supplement or amendment, including a
post-effective amendment, if required by applicable law, to the affected Registration Statement or a supplement to the related Prospectus or any document incorporated or deemed to be incorporated therein by reference, and file any other required
document so that, as thereafter delivered, no Registration Statement nor any Prospectus will contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein,
in the light of the circumstances under which they were made, not misleading. 

  

	 	(j)	Kenon may distribute the Registrable Securities by means of an underwritten offering; provided that (i) Kenon provide written notice to the Company of their intention to distribute Registrable Securities by
means of an underwritten offering, (ii) the managing underwriter or managing underwriters thereof shall be designated by Kenon in the case of a Demand Registration (provided, however, that such designated managing underwriter or
managing underwriters shall be reasonably acceptable to the Company) or by the Company in the case of a registration initiated by the Company, (iii) Kenon agrees to enter into an underwriting agreement in customary form and sell Kenon’s
Registrable Securities on the basis provided in any underwriting arrangements approved by the Persons entitled to select the managing underwriter or managing underwriters hereunder and (v) Kenon will complete and execute all questionnaires,
powers of attorney, indemnities and other documents reasonably required under the terms of such underwriting arrangements. The Company hereby agrees with Kenon that, in connection with any underwritten offering in accordance with the terms hereof,
it will negotiate in good faith and execute all indemnities, underwriting agreements and other documents reasonably required under the terms of such underwriting arrangements, including using all reasonable best efforts to procure customary legal
opinions and auditor “comfort” letters at the Company’s expense. 

  

	 	(k)	In the event Kenon seek to complete an underwritten offering, for a reasonable period prior to the filing of any Registration Statement and throughout the Effectiveness Period, the Company will make available upon
reasonable notice at the Company’s principal place of business or such other reasonable place for inspection by the managing underwriter or managing underwriters selected in accordance with Section 3(j) such financial and other
information and books and records of the Company, and cause the officers, employees, counsel and independent certified public accountants of the Company to respond to such inquiries, as shall be reasonably necessary (and in the case of counsel, not
violate an attorney-client privilege in such counsel’s reasonable belief) to conduct a reasonable investigation within the meaning of Section 11 of the Securities Act. 

 

	 	(l)	In connection with any registration of Registrable Securities pursuant to this Agreement, the Company will take all commercially reasonable actions as are necessary or advisable in order to expedite or facilitate the
disposition of Registrable Securities by Kenon, including causing appropriate officers and employees to be available, on a customary basis and upon reasonable notice, to meet with prospective investors in presentations, meetings and road shows.

  
 13 

	4.	Registration Expenses 

 All Registration Expenses incident to the Parties’
performance of or compliance with their respective obligations under this Agreement or otherwise in connection with any Demand Registration or Piggyback Registration (excluding any Selling Expenses) shall be borne by the Company, whether or not any
Registrable Securities are sold pursuant to a Registration Statement. “Registration Expenses” shall include, without limitation, (i) all registration and filing fees (including fees and expenses (A) with respect to
filings required to be made with the NYSE and (B) in compliance with applicable state securities or “Blue Sky” laws), (ii) printing expenses (including expenses of printing certificates for Ordinary Shares and of printing
prospectuses if the printing of prospectuses is reasonably requested by Kenon), (iii) messenger, telephone and delivery expenses, (iv) fees and disbursements of counsel, auditors and accountants for the Company, (v) Securities Act
liability insurance, if the Company so desires such insurance and (vi) fees and expenses of all other Persons retained by the Company in connection with the consummation of the transactions contemplated by this Agreement. In addition, the
Company shall be responsible for all of its expenses incurred in connection with the consummation of the transactions contemplated by this Agreement (including expenses payable to third parties and including all salaries and expenses of their
officers and employees performing legal or accounting duties), the expense of any annual audit and the fees and expenses incurred in connection with the listing of the Registrable Securities on the NYSE. 

 

	5.	Indemnification 

 If requested by Kenon, the Company shall indemnify and hold harmless
each underwriter, if any, engaged in connection with any registration referred to in Section 2 and provide representations, covenants, opinions and other assurances to any underwriter in form and substance reasonably satisfactory to such
underwriter and the Company. 
 Further, the Company shall indemnify and hold harmless Kenon, its Affiliates and each of their respective
officers and directors and any Person who controls Kenon (within the meaning of the Securities Act) and any agent thereof (collectively, “Indemnified Persons”), to the fullest extent permitted by applicable law, from and
against any and all losses, claims, damages, liabilities, joint or several, costs (including reasonable costs of preparation and reasonable attorneys’ fees) and expenses, judgments, fines, penalties, interest, settlements or other amounts
arising from any and all claims, demands, actions, suits or proceedings, whether civil, criminal, administrative or investigative, in which any Indemnified Person may be involved, or is threatened to be involved, as a party or otherwise, under the
Securities Act or otherwise (collectively, “Losses”), as incurred, arising out of or relating to any untrue or alleged untrue statement of a material fact contained in any Registration Statement under which any Registrable
Securities were registered, in any preliminary prospectus (if used prior to the Effective Date of such Registration Statement), or in any summary or final prospectus or free writing prospectus or in any amendment or supplement thereto (if used
during the period the Company is required to keep the 

  
 14 

 
Registration Statement current), or arising out of, based upon or resulting from the omission or alleged omission to state therein a material fact required to be stated therein or necessary to
make the statements made therein, in the light of the circumstances in which they were made, not misleading; provided, however, that the Company shall not be liable to any Indemnified Person to the extent that any such claim arises out of, is
based upon or results from an untrue or alleged untrue statement or omission or alleged omission made in such Registration Statement, such preliminary, summary or final prospectus or free writing prospectus or such amendment or supplement, in
reliance upon and in conformity with written information furnished to the Company by or on behalf of such Indemnified Person specifically for use in the preparation thereof. The Company shall notify Kenon promptly of the institution, threat or
assertion of any Proceeding of which the Company is aware in connection with the transactions contemplated by this Agreement. Notwithstanding anything to the contrary herein, this Section 5 shall survive any termination or expiration of
this Agreement indefinitely. 
 Promptly after receipt by any Indemnified Persons under this Section 5 of notice of the
commencement of any action or proceeding (including any governmental action or proceeding) involving a Loss, such Indemnified Persons shall, if a Loss in respect thereof is to be claimed against any indemnifying party under this
Section 5, deliver to the indemnifying party a written notice of the commencement thereof, and the indemnifying party shall have the right to participate in, and, to the extent the indemnifying party so desires, jointly with any other
indemnifying party similarly noticed, to assume control of the defense thereof with counsel mutually satisfactory to the indemnifying party and the Indemnified Persons; provided, however, that the Indemnified Persons shall have the right to
retain their own counsel with the fees and expenses of not more than one counsel for such Indemnified Persons to be paid by the indemnifying party if the representation by such counsel of the Indemnified Persons and the indemnifying party would be
inappropriate due to actual or potential differing interests between such Indemnified Persons and any other party represented by such counsel in such proceeding. In the case of Indemnified Persons, legal counsel referred to in the immediately
preceding sentence shall be selected by Kenon. The Indemnified Persons shall cooperate with the indemnifying party in connection with any negotiation or defense of any such Losses by the indemnifying party and shall furnish to the indemnifying party
all information reasonably available to the Indemnified Persons which relates to such Losses. The failure to deliver written notice to the indemnifying party within a reasonable time of the commencement of any such action shall not relieve such
indemnifying party of any liability to the Indemnified Persons under this Section 5, except to the extent that the indemnifying party is prejudiced in its ability to defend such action but the omission to so notify the indemnifying party
will not relieve such indemnifying party of any liability that it may have to any Indemnified Persons otherwise than under this Section 5. 
  

	6.	Facilitation of Sales Pursuant to Rule 144 

 To the extent it shall be required to do so
under the Exchange Act, the Company shall timely file the reports required to be filed by it under the Exchange Act or the Securities Act (including the reports under Sections 13 and 15(d) of the Exchange Act referred to in subparagraph (c)(1) of
Rule 144), and shall take such further action as Kenon may reasonably request, all to the extent required from time to time to enable 

  
 15 

 
Kenon to sell Registrable Securities without registration under the Securities Act within the limitations of the exemption provided by Rule 144. Upon the request Kenon in connection with
Kenon’s sale pursuant to Rule 144, the Company shall deliver to Kenon a written statement as to whether it has complied with such requirements. 
  

	7.	Miscellaneous 

  

	 	(a)	Remedies 

 In the event of a breach by the Company of any of its obligations under this
Agreement, Kenon, in addition to being entitled to exercise all rights granted by law and under this Agreement, including recovery of damages, will be entitled to specific performance of its rights under this Agreement. The Company agrees that
monetary damages would not provide adequate compensation for any losses incurred by reason of a breach by it of any of the provisions of this Agreement and further agrees that, in the event of any action for specific performance in respect of such
breach, it shall waive the defense that a remedy at law would be adequate. 
  

	 	(b)	Discontinued Disposition 

 Kenon agrees by its acquisition of such Registrable Securities that,
upon receipt of a notice from the Company of the occurrence of any event of the kind described in clauses (ii) through (v) of Section 3(d), Kenon will forthwith discontinue disposition of such Registrable Securities under the
Registration Statement until Kenon’s receipt of the copies of the supplemental Prospectus or amended Registration Statement or until it is advised in writing by the Company that the use of the applicable Prospectus may be resumed, and, in
either case, has received copies of any additional or supplemental filings that are incorporated or deemed to be incorporated by reference in such Prospectus or Registration Statement. The Company may provide appropriate stop orders to enforce
the provisions of this Section 7(b). 
  

	 	(c)	Amendments and Waivers 

 No provision of this Agreement may be waived or amended except in a
written instrument signed by the Company and Kenon. No waiver of any default with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing waiver in the future or a waiver of any subsequent default or a
waiver of any other provision, condition or requirement hereof, nor shall any delay or omission of any Party to exercise any right hereunder in any manner impair the exercise of any such right. 

 

	 	(d)	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 (i) the date of transmission, if such notice or communication is delivered via facsimile or electronic mail as specified in

  
 16 

 
this Section 7(d) prior to 5:00 p.m. (Eastern Standard Time) on a Business Day, (ii) the Business Day after the date of transmission, if such notice or communication is delivered
via facsimile or electronic mail as specified in this Agreement later than 5:00 p.m. (Eastern Standard Time) on any date and earlier than 11:59 p.m. (Eastern Standard Time) on such date, (iii) the Business Day following the date of mailing, if
sent by nationally recognized overnight courier service or (iv) 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 follows: 

 

					
	If to the Company:	 		 	[Company]
		 		 	 Av. Santo Toribio 115, Piso 7
 San Isidro

Lima, Peru
 Attention: Daniel Urbina

                 General Counsel

		 		 	Phone: +51 1 708 2200
		 		 	E-Mail: daniel.urbina@icpower.com
			
	If to Kenon or any of its Affiliates:	 		 	Kenon Holdings Ltd.
		 		 	 1 Temasek Avenue #36-01
 Millenia Tower

Singapore 039192
 Attention: Robert Rosen

                 General Counsel

		 		 	Phone: +65 6351 1780
		 		 	E-Mail: robertr@kenon-holdings.com

  

	 	(e)	Successors and Assigns 

  

	 	(i)	This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their heirs, executors, administrators, successors, legal representatives and permitted assigns. Except as provided below in
Section 7(e)(ii) and any transfers to Affiliates of Kenon, this Agreement, and any rights or obligations hereunder, may not be assigned without the prior written consent of the Company and Kenon. 

 

	 	(ii)	The rights under this Agreement shall be freely assignable by Kenon, in whole or in part at any time and from time to time during the Registration Period, to any transferee or recipient of all or any portion of
Kenon’s Registrable Securities if: (i) the transferee or recipient is, or will become immediately following the transfer from Kenon, the holder of at least five percent (5%) of the Company’s issued and outstanding share capital
at that time, and (ii) Kenon agrees in writing with the transferee or recipient to assign such rights and the transferee or recipient agrees in writing with the Company to be bound by all of the provisions contained herein in the form attached
as Appendix A hereto. 

  
 17 

	 	(iii)	In order to assign any number of Demand Registrations, the holder of the right to such Demand Registrations shall expressly assign any number of Demand Registrations that it may hold pursuant to an agreement in the form
attached as Appendix A hereto and such assignment shall correspondingly reduce the number of Demand Registrations held by Kenon or any other assignor. 

At the transferee’s or recipient’s request, the Company shall promptly prepare and file any required prospectus supplement under
Rule 424(b)(3) of the Securities Act or other applicable provision of the Securities Act to appropriately amend the list of selling shareholders thereunder to include such transferee or recipient. 

 

	 	(iv)	In the event Kenon transfers Registrable Securities included on a Registration Statement in connection with the foreclosure of a pledge of such Registrable Securities and, following the transfer, such Registrable
Securities would not be eligible for sale pursuant to Rule 144 (or any successor provision) under the Securities Act without restriction pursuant to such rule on the volume of securities that may be sold in any single transaction, then (A) at
the request of the new holder of such Registrable Securities (the “Pledge Holder” ), the Company shall amend or supplement such Registration Statement as may be necessary in order to enable such Pledge Holder to offer and
sell such Registrable Securities pursuant to such Registration Statement; provided that in no event shall the Company be required to file a post-effective amendment to the Registration Statement unless (X) such Registration Statement
includes only Registrable Securities held by the Pledge Holder, Affiliates of the Pledge Holder or transferees of the Pledge Holder or (Y) the Company has received a written consent therefor from every Person for whom Ordinary Shares have been
registered on (but not yet sold under) such Registration Statement, other than the Pledge Holder, Affiliates of the Pledge Holder or transferees of the Pledge Holder and (B) all of the rights and obligations of the Company and the Pledge Holder
with respect to such Registrable Securities granted under Sections 2, 3, 4, 5, 6 and 7 shall continue to be applicable with respect to such Registrable Securities until the earlier of (X) the time required for the Pledge Holder to sell
all of the Registrable Securities held by the Pledge Holder or (Y) the end of the Effectiveness Period of the Registration Statement relating to such Registrable Securities. 

 

	 	(f)	Third Party Beneficiaries 

 This Agreement is intended for the benefit of the Parties hereto and
their respective successors and permitted assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other person 

  
 18 

	 	(g)	Execution and Counterparts 

 This Agreement may be executed in any number of counterparts, each
of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same Agreement. In the event that any signature is delivered by facsimile or electronic mail transmission, such signature shall
create a valid binding obligation of the Party executing (or on whose behalf such signature is executed) the same with the same force and effect as if such signature delivered by facsimile or electronic mail transmission were the original thereof.

  

	 	(h)	Governing Law 

 This Agreement shall be governed by and construed in accordance with the laws of
the State of New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the courts of the State of New York located in New York County and the United States District Court for the Southern District of New York for the purpose
of any suit, action, proceeding or judgment relating to or arising out of this Agreement and the Transactions contemplated hereunder. EACH OF THE PARTIES HERETO WAIVES ANY RIGHT TO REQUEST A TRIAL BY JURY IN ANY LITIGATION WITH RESPECT TO THE
AGREEMENT. 
  

	 	(i)	Cumulative Remedies 

 The remedies provided herein are cumulative and not exclusive of any
remedies provided by law. Failure of any party to exercise any right or remedy under this Agreement or otherwise, or delay by a party in exercising such right or remedy, shall not operate as a waiver thereof. 

 

	 	(j)	Severability 

 If any term, provision, covenant or restriction of this Agreement is held by a
court of competent jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be affected, impaired or
invalidated, and the Parties shall use their reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision, covenant or restriction. It is hereby
stipulated and declared to be the intention of the Parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or
unenforceable. 
  

	 	(k)	Entire Agreement 

 This Agreement constitutes the entire agreement among the Parties with
respect to the subject matter hereof and supersede all prior contracts or agreements with respect to the subject matter hereof and the matters addressed or governed hereby, whether oral or written. 

  
 19 

	 	(l)	Headings; Section References; Mutual Drafting 

 The headings in this Agreement are for
convenience of reference only and shall not limit or otherwise affect the meaning hereof. Unless otherwise stated, references to Sections, Schedules and Exhibits are to the Sections, Schedules and Exhibits of this Agreement. 

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. 
  

	 	(m)	Other Listings 

 To the extent that the Company lists its shares on any stock exchange outside
of the United States, the provisions of this Agreement shall apply, mutatis mutandis, to such listing. 
 [THIS SPACE LEFT BLANK
INTENTIONALLY] 

  
 20 

 IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first written above. 

 

			
	 [COMPANY]

		
	By:	 	
	Name:	 	
	Title:	 	
	
	KENON HOLDINGS LTD.
		
	By:	 	
	Name:	 	
	Title:	 	

  
 21 

 Appendix A 

  
 22 

 Tripartite Transfer and Amendment Agreement 

THIS TRIPARTITE TRANSFER AND AMENDMENT AGREEMENT (the “Transfer Agreement”) is made on this [●] day of [●] 20[●] by
and between [●] (the “New Shareholder”),
                                 (the “Company”) and [●]
(the “Transferor”) and is supplemental to and an amendment of the Registration Rights Agreement (the “Agreement”) dated [●], 2015, as amended from time to time, and made by and between the
Company and Kenon Holdings Ltd. (“Kenon”). 
  

	1.	The New Shareholder hereby confirms that it has been supplied with a copy of the Agreement and hereby covenants with the Company to observe, perform and be bound by all the terms of the Agreement which are capable of
applying to the Transferor as a holder of Registrable Securities (as defined in the Agreement) and which have not been performed at the date of this Transfer Agreement to the intent and effect that the New Shareholder shall be deemed with effect
from the date hereof to be a Party to the Agreement. 

  

	2.	The Transferor hereby confirms that it has transferred [● percent (●%)] of the Company’s issued and outstanding share capital to the New Shareholder (the “Share Transfer”) and
thereby also wishes to and hereby does assign to the New Shareholder an equal pro-rata share of its rights as a holder of Registrable Securities under the Agreement (the “Assignment of Rights”). 

 

	3.	The Transferor hereby expressly assigns [●] number of Demand Registrations in any twelve (12) month period to the New Shareholder and agrees that this assignment shall correspondingly decrease the number of
Demand Registrations in any twelve (12) month period available to the Transferor under the Agreement. 

  

	4.	The Company hereby confirms and acknowledges the Share Transfer and Assignment of Rights on the terms set forth herein. 

  

	5.	The New Shareholder confirms that its details for Section 7(d) (Notices) are as follows: [●]. 

  

	6.	This Transfer Agreement shall be governed by and construed in accordance with the laws of the State of New York, without regard to the choice of law principles thereof. 

[THIS SPACE LEFT BLANK INTENTIONALLY] 

  
 23 

 IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first written above. 

 

			
	[NEW SHAREHOLDER]
		
	By:	 	
	Name:	 	
	Title:	 	
	
	 [COMPANY]

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

  
 24

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