Document:

Exhibit 10.18

 

SUBSCRIPTION
AGREEMENT

 

Thunder
Bridge Acquisition II, Ltd.

9912
Georgetown Pike, Suite D203

Great
Falls, Virginia 22066

December
14, 2020

 

Ladies
and Gentlemen:

 

In
connection with the proposed business combination (the “Transaction”) between Thunder Bridge Acquisition II,
Ltd., a Cayman Islands exempted company (including its successors pursuant to the Transaction, the “Company”),
and Ay Dee Kay LLC, a California limited liability company (“Indie Semiconductor”), pursuant to that certain
Master Transactions Agreement, dated as of December 14, 2020, among the Company, Indie Semiconductor and the other parties thereto
(as may be amended and/or restated, the “Transaction Agreement”), pursuant to which, among other things, the
Company will domesticate into a Delaware corporation, and upon consummation of the Transaction, become the wholly-owned subsidiary
of Thunder Bridge II Surviving Pubco, Inc., a Delaware corporation (“Surviving Pubco”), with Surviving Pubco
becoming the successor issuer and public company pursuant to the federal securities laws; the Company is seeking commitments to
purchase shares (subject to Section 6(d) and Section 9(n), the “Shares”) of common stock of the Company, par
value $0.0001 per share, for a purchase price of $10.00 per share (the “Purchase Price”). The Company is offering
the Shares in a private placement (the “Offering”) in which the Company expects to raise an aggregate of $150
million pursuant to subscription agreements (the “Other Subscription Agreements”) of even date herewith with
other investors (the “Other Subscribers”) on substantially the same terms hereof. In connection therewith,
the undersigned and the Company agree as follows:

 

1.
Subscription. As of the date written above, the undersigned hereby irrevocably subscribes for and agrees to purchase
from the Company such number of Shares as is set forth on the signature page of this Subscription Agreement at the Purchase Price
and on the terms provided for herein.

 

2.
Closing; Delivery of Shares.

 

a.
The closing of the sale of Shares contemplated hereby (the “Closing”) is contingent upon the substantially
concurrent consummation of the Transaction. The Closing shall occur on the date of, and immediately prior to, the consummation
of the Transaction. Upon (i) satisfaction of the conditions set forth in Section 3 below and (ii) not less than five (5) business
days’ written notice (which may be via email) from (or on behalf of) the Company to the undersigned (the “Closing
Notice”), which Closing Notice shall contain the Company’s wire instructions, that the Company reasonably expects
the closing of the Transaction to occur on a date that is not less than five (5) business days from the date of the Closing Notice,
the undersigned shall deliver to the Company on the closing date specified in the Closing Notice (the “Closing Date”)
the Purchase Price for the Shares subscribed by wire transfer of United States dollars in immediately available funds to the account
specified by the Company in the Closing Notice against delivery to the undersigned of the Shares, free and clear of any liens
or other restrictions whatsoever (other than those arising under state or federal securities laws), in book-entry form as set
forth in Section 2(b) below. This Subscription Agreement shall terminate and be of no further force or effect, without any liability
to either party hereto, if the Company notifies the undersigned in writing that it has abandoned its plans to move forward with
the Transaction prior to the Closing Date. If, within one business day following the Closing, the consummation of the Transaction
does not occur, the Company shall promptly (but not later than two business days thereafter) return the Purchase Price to the
undersigned, and the undersigned shall return its Shares to the Company for cancellation. For purposes of this Agreement, “business
day” shall mean any day other than (x) a Saturday or Sunday or (y) a day on which the banking institutions located in New
York, New York are permitted or required by law, executive order or governmental decree to remain closed.

 

     

     

    

 

b.
Immediately upon the Closing, the Company shall deliver (or cause the delivery of) the Shares in book-entry form with restrictive
legends in the amount as set forth on the signature page to each of the undersigned as indicated on the signature page or to a
custodian designated by such undersigned, as applicable, as indicated below.

 

3.
Closing Conditions. In addition to the condition set forth in the first sentence of Section 2(a) above:

 

a.
The Closing is also subject to satisfaction or valid waiver by each party of the conditions that, on the Closing Date:

 

(i)
no suspension of the qualification of the Shares for offering or sale or trading in any jurisdiction, or initiation or threatening
of any proceedings for any of such purposes, shall have occurred;

 

(ii)
no applicable governmental authority shall have enacted, issued, promulgated, enforced or entered any judgment, order, law, rule
or regulation (whether temporary, preliminary or permanent) which is then in effect and has the effect of making consummation
of the transactions contemplated hereby illegal or otherwise restraining or prohibiting consummation of the transactions contemplated
hereby, and no governmental authority shall have instituted or threatened in writing a proceeding seeking to impose any such restraint
or prohibition; and

 

(iii)
all conditions precedent to the closing of the Transaction set forth in the Transaction Agreement, including all necessary approvals
of the Company’s stockholders and regulatory approvals, if any, shall have been satisfied or waived (other than those conditions
which, by their nature, are to be satisfied at the closing of the Transaction) and the closing of the Transaction shall be scheduled
to occur concurrently with or immediately following the Closing.

 

b.
The obligations of the Company to consummate the Closing shall be subject to the satisfaction or valid waiver by the Company of
the additional conditions that, on the Closing Date:

 

(i)
all representations and warranties of the undersigned contained in this Subscription Agreement shall be true and correct in all
material respects (other than representations and warranties that are qualified as to materiality, which representations and warranties
shall be true in all respects) at and as of the Closing Date (except for representations and warranties made as of a specific
date, which shall be true and correct in all material respects (other than representations and warranties that are qualified as
to materiality, which representations and warranties shall be true in all respects) as of such date), and consummation of the
Closing shall constitute a reaffirmation by the undersigned of each of the representations, warranties and agreements of each
such party contained in this Subscription Agreement as of the Closing Date; and

 

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(ii)
the undersigned shall have performed, satisfied and complied in all material respects with all covenants, agreements and conditions
required by this Subscription Agreement to be performed, satisfied or complied with by it at or prior to Closing, including, without
limitation, receipt by the Placement Agents of a signed copy of an “investor representation letter” in substantially
the form attached as Schedule A hereto no later than the Closing Date.

 

c.
The obligation of the undersigned to consummate the Closing shall be subject to the satisfaction or valid waiver by the undersigned
of the additional conditions that, on the Closing Date:

 

(i)
all representations and warranties of the Company contained in this Subscription Agreement shall be true and correct in all material
respects (other than representations and warranties that are qualified as to materiality or Material Adverse Effect (as defined
herein), which representations and warranties shall be true in all respects) at and as of the Closing Date (except for representations
and warranties made as of a specific date, which shall be true and correct in all material respects (other than representations
and warranties that are qualified as to materiality or Material Adverse Effect, which representations and warranties shall be
true in all respects) as of such date), and consummation of the Closing shall constitute a reaffirmation by the Company of each
of the representations, warranties and agreements of each such party contained in this Subscription Agreement as of the Closing
Date;

 

(ii)
the Company shall have performed, satisfied and complied in all material respects with all covenants, agreements and conditions
required by this Subscription Agreement to be performed, satisfied or complied with by it at or prior to the Closing;

 

(iii)
the Company shall have delivered to the undersigned and the Placement Agents, a certificate of the Chief Executive Officer of
the Company, dated as of the Closing Date, certifying to the fulfillment of the conditions specified in Sections 3(a)(iii) and
3(c);

 

(iv)
at least $100,000,000 in the aggregate shall have been raised pursuant to this Subscription Agreement and the Other Subscription
Agreements on or prior to the Closing Date;

 

(v)
no amendment, waiver or modification of the Transaction Agreement (as the same exists on the date hereof as provided to the undersigned)
shall have occurred that would reasonably be expected to materially and adversely affect the undersigned, unless such amendment,
waiver or modification has been consented in writing to by the prior written consent of the undersigned; and

 

(vi)
there shall have been no amendment, waiver or modification to the Other Subscription Agreements that materially benefits the Other
Subscribers unless the undersigned has been offered substantially the same benefits.

 

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4.
Company Representations and Warranties. The Company represents and warrants to the undersigned and the Placement Agents
that:

 

a.
As of the date hereof, the Company is a Cayman Islands exempted company duly organized, validly existing and in good standing
under the laws of the Cayman Islands. Immediately following the closing of the Transaction under the Transaction Agreement, the
Company will be a Delaware corporation, validly existing and in good standing under the laws of the State of Delaware. The Company
has the corporate power and authority to own, lease and operate its properties and conduct its business as presently conducted
and to enter into, deliver and perform its obligations under this Subscription Agreement.

 

b.
The Shares have been duly authorized and, when issued and delivered to the undersigned against full payment therefor in accordance
with the terms of this Subscription Agreement, the Shares will be validly issued, fully paid and non-assessable and will not have
been issued in violation of or subject to any preemptive or similar rights created under the Company’s Amended and Restated
Memorandum and Articles of Association (as amended) or under the laws of the Cayman Islands.

 

c.
This Subscription Agreement has been duly authorized, executed and delivered by the Company and is enforceable against the Company
in accordance with its terms, except as may be limited or otherwise affected by (i) bankruptcy, insolvency, fraudulent conveyance,
reorganization, moratorium or other laws relating to or affecting the rights of creditors generally, and (ii) principles of equity,
whether considered at law or equity.

 

d.
Subject to approval by the Thunder Bridge II Equity Holders (as defined in the Transaction Agreement) to the extent required by
any applicable rules or regulations of Nasdaq, the issuance and sale of the Shares and the compliance by the Company with all
of the provisions of this Subscription Agreement and the consummation of the transactions herein will be done in accordance with
the Nasdaq marketplace rules and will not conflict with or result in a breach or violation of any of the terms or provisions of,
or constitute a default under, or result in the creation or imposition of any lien, charge or encumbrance upon any of the property
or assets of the Company or any of its subsidiaries pursuant to the terms of (i) any indenture, mortgage, deed of trust, loan
agreement, license, lease or any other agreement or instrument to which the Company or any of its subsidiaries is a party or by
which the Company or any of its subsidiaries is bound or to which any of the property or assets of the Company is subject, which
would have a material adverse effect on the business, properties, financial condition, stockholders’ equity or results of
operations of the Company or on the validity of the Shares or the legal authority of the Company to comply in all material respects
with the terms of this Subscription Agreement (a “Material Adverse Effect”); (ii) result in any violation of
the provisions of the organizational documents of the Company; or (iii) result in any violation of any statute or any judgment,
order, rule or regulation of any court or governmental agency or body, domestic or foreign, having jurisdiction over the Company
or any of its properties that would have a Material Adverse Effect or materially affect the validity of the Shares or the legal
authority of the Company to comply with this Subscription Agreement.

 

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e.
The Company has not entered into any agreement or arrangement entitling any agent, broker, investment banker, financial advisor
or other person to any broker’s or finder’s fee or any other commission or similar fee in connection with the transactions
contemplated by this Subscription Agreement for which the undersigned could become liable. Except for placement fees payable to
Morgan Stanley Co., LLC (“Morgan Stanley”) and Deutsche Bank Securities Inc. (“DB,” and
together with Morgan Stanley, the “Placement Agents,” and each a “Placement Agent”), the
Company has not paid and is not obligated to pay (directly or indirectly) remuneration for solicitation of purchasers in connection
with the sale of any Shares, including any brokerage, finder’s or other fee or commission in connection with its issuance
and sale of the Shares, including, for the avoidance of doubt, any fee or commission payable to any stockholder or affiliate of
the Company.

 

f.
The Company is not, and immediately after receipt of payment for the Shares, will not be, an “investment company”
within the meaning of the Investment Company Act of 1940, as amended.

 

g.
Assuming the accuracy of the subscriber representations and warranties set forth in Section 5, in connection with the offer, sale
and delivery of the Shares in the manner contemplated by this Subscription Agreement, it is not necessary to register the offer
and sale of the Shares by Company to the undersigned under the Securities Act.

 

h.
The Shares (i) were not offered by any form of general solicitation or general advertising and (ii) assuming the accuracy of the
subscriber representations and warranties set forth in Section 5, are not being offered in a manner involving a public offering
under, or in a distribution in violation of, the Securities Act of 1933, as amended (the “Securities Act”),
or any state securities laws. Furthermore, neither the Company, nor any person acting on its behalf has, directly or indirectly,
made any offers or sales of any Company security or solicited any offers to buy any security under circumstances that would adversely
affect reliance by the Company on Section 4(a)(2) of the Securities Act for the exemption from registration for the transactions
contemplated hereby or would require registration of the issuance of the Shares under the Securities Act.

 

i.
As of the date hereof and immediately prior to the Closing (and prior to giving effect to the consummation of the Transaction
and this Offering), the authorized capital of the Company consists of 200,000,000 Class A ordinary shares, (“Class A
Ordinary Shares”), of which 34,500,000 are outstanding, 20,000,000 Class B ordinary shares, (“Class B Ordinary
Shares” and, together with the Class A Ordinary Shares, “Ordinary Shares”), of which 8,625,000 are
outstanding, and 1,000,000 preferred shares (“Preferred Shares”), of which none are outstanding. All outstanding
Ordinary Shares have been duly authorized and validly issued, are fully paid and nonassessable and were not issued in violation
of (or subject to) any preemptive rights (including any preemptive rights set forth in the Organizational Documents (as such term
is defined in the Transaction Agreement) of the Company), rights of first refusal or similar rights. As of the date hereof (and,
prior to giving effect to the consummation of the Transaction and this Offering), the Company has issued 25,900,000 warrants (“Company
Warrants”), each such Company Warrant entitling the holder thereof to purchase one Class A Ordinary Share. Other than
the Company Warrants, there are no options, warrants, equity securities, calls, rights, commitments or agreements to which the
Company is a party or by which the Company is bound obligating the Company to issue, exchange, transfer, deliver or sell, or cause
to be issued, exchanged, transferred, delivered or sold, additional Ordinary Shares or other equity interests of the Company or
any security or rights convertible into or exchangeable or exercisable for any Ordinary Shares or other equity interests of the
Company, or obligating the Company to enter into any commitment or agreement containing such obligation.

 

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j.
The issued and outstanding Class A Ordinary Shares are registered pursuant to Section 12(b) of the Securities Exchange Act of
1934, as amended (the “Exchange Act”), and are listed for trading on the Nasdaq Capital Market under the symbol “THBR.”
There is no suit, action, proceeding or investigation pending or, to the knowledge of the Company, threatened against the Company
by Nasdaq or the United States Securities and Exchange Commission (the “SEC”) with respect to any intention
by such entity to deregister the Class A Ordinary Shares or prohibit or terminate the listing of the Class A Ordinary Shares on
Nasdaq, excluding, for the purposes of clarity, the customary ongoing review by Nasdaq of the Company’s listing application
with respect to the Transaction.

 

k.
As of their respective dates, all forms, reports, statements, schedules, proxies, registration statements and other documents
filed by the Company with the SEC prior to the date of this Subscription Agreement (the “SEC Reports”) complied
in all material respects with the applicable requirements of the Securities Act, the Exchange Act and the rules and regulations
of the SEC promulgated thereunder, and none of the SEC Reports, when filed, contained any untrue statement of a material fact
or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein, in the
light of the circumstances under which they were made, not misleading. The financial statements of the Company included in the
SEC Reports comply in all material respects with applicable accounting requirements and the rules and regulations of the SEC with
respect thereto as in effect at the time of filing and fairly present in all material respects the financial position of the Company
as of and for the dates thereof and the results of operations and cash flows for the periods then ended, subject, in the case
of unaudited statements, to normal, year-end audit adjustments. A copy of each SEC Report is available to the undersigned via
the SEC’s EDGAR system. There are no outstanding or unresolved comments in comment letters received by the Company from
the staff of the Division of Corporation Finance of the SEC with respect to any of the SEC Reports.

 

l.
The Company is in compliance with all applicable laws, except where such non-compliance would not reasonably be expected to have
a Material Adverse Effect. The Company has not received any written communication from a governmental entity that alleges that
the Company is not in compliance with or is in default or violation of any applicable law, except where such non-compliance, default
or violation would not, individually or in the aggregate, be reasonably expected to have a Material Adverse Effect.

 

m.
The Company is not required to obtain any consent, waiver, authorization or order of, give any notice to, or make any filing or
registration with, any court or other federal, state, local or other governmental authority, self-regulatory organization or other
person in connection with the execution, delivery and performance by the Company of this Subscription Agreement (including, without
limitation, the issuance of the Shares), other than (i) the filing with the SEC of the Registration Statement (as defined below),
(ii) filings required by applicable state securities laws, (iii) the filing of a Notice of Exempt Offering of Securities on Form
D with the SEC under Regulation D of the Securities Act (if any), (iv) those required by Nasdaq, including with respect to obtaining
approval of the Company’s stockholders; and (v) any filing, the failure of which to obtain would not be reasonably likely
to have, individually or in the aggregate, a Material Adverse Effect.

 

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n.
The Company has not entered into any side letter or similar agreement with any investor in connection with such investor’s
direct or indirect investment in the Company other than (i) the Transaction Agreement, and (ii) the Other Subscription Agreements.
The Other Subscription Agreements reflect the same per share Purchase Price and terms that are no more favorable to any such Other
Subscriber thereunder than the terms of this Subscription Agreement and, will not and, as of the Closing Date, have not, been
amended in any material respect following the date of this Subscription Agreement.

 

o.
The Company acknowledges and agrees that, notwithstanding anything herein to the contrary, the Shares may be pledged by undersigned
in connection with a bona fide margin agreement, which shall not be deemed to be a transfer, sale or assignment of the Shares
hereunder, and the undersigned effecting a pledge of Shares shall not be required to provide the Company with any notice thereof
or otherwise make any delivery to the Company pursuant to this Agreement. The Company hereby agrees to execute and deliver such
documentation as a pledgee of the Shares may reasonably request in connection with a pledge of the Shares to such pledgee by the
undersigned.

 

p.
The Company is not, and has not been during the applicable period specified in Section 897(c)(1)(A)(ii) of the Internal Revenue
Code of 1986, as amended (the “Code”), a “United States real property holding corporation” within
the meaning of Section 897(c)(2) of the Code.

 

q.
Except as provided in the Transaction Agreement, to the knowledge of the Company no additional payments or consideration are anticipated
to be made or paid to the equityholders of Indie Semiconductor in connection with the Transaction.

 

r.
The Company understands that the foregoing representations and warranties shall be deemed material and to have been relied upon
by the undersigned.

 

5.
Subscriber Representations, Warranties and Covenants. The undersigned represents and warrants to the Company and the
Placement Agents that:

 

a.
At the time the undersigned was offered the Shares, it was, and as of the date hereof, the undersigned is (i) a “qualified
institutional buyer” (as defined in Rule 144A under the Securities Act) or an institutional “accredited investor”
(within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act, in each case, satisfying the requirements set
forth on Schedule A hereto), and (ii) is acquiring the Shares only for his, her or its own account or for an account over
which it exercises sole discretion for another qualified institutional buyer or accredited investor and (iii) not for the account
of others, and not on behalf of any other account or person or with a view to, or for offer or sale in connection with, any distribution
thereof in violation of the Securities Act (and shall provide the requested information on Schedule A following the signature
page hereto). The undersigned is not an entity formed for the specific purpose of acquiring the Shares. The undersigned understands
and acknowledges that the purchase and sale of the Shares hereunder meets the exemptions from filing under FINRA Rule 5123(b)(1)(C)
or (J).

 

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b.
The undersigned understands that the Shares are being offered in a transaction not involving any public offering within the meaning
of the Securities Act and that the Shares delivered at the Closing have not been registered under the Securities Act. The undersigned
understands that the Shares may not be resold, transferred, pledged or otherwise disposed of by the undersigned absent an effective
registration statement under the Securities Act except (i) to the Company or a subsidiary thereof, (ii) to non-U.S. persons pursuant
to offers and sales that occur outside the United States within the meaning of Regulation S under the Securities Act or (iii)
pursuant to another applicable exemption from the registration requirements of the Securities Act, and in each of cases (i) and
(iii) in accordance with any applicable securities laws of the states and other jurisdictions of the United States, and that any
certificates representing the Shares delivered at the Closing shall contain a legend to such effect. The undersigned acknowledges
that the Shares will not be eligible for resale pursuant to Rule 144A promulgated under the Securities Act. The undersigned understands
and agrees that the Shares, until registered under an effective registration statement, will be subject to transfer restrictions
and, as a result of these transfer restrictions, the undersigned may not be able to readily resell the Shares and may be required
to bear the financial risk of an investment in the Shares for an indefinite period of time. The undersigned understands that it
has been advised to consult legal counsel prior to making any offer, resale, pledge or transfer of any of the Shares.

 

c.
The undersigned understands and agrees that the undersigned is purchasing Shares directly from the Company. The undersigned further
acknowledges that there have been no representations, warranties, covenants and agreements made to the undersigned by the Company,
or any of its officers or directors, expressly (other than those representations, warranties, covenants and agreements included
in this Subscription Agreement) or by implication.

 

d.
The undersigned’s acquisition and holding of the Shares will not constitute or result in a non-exempt prohibited transaction
under Section 406 of the Employee Retirement Income Security Act of 1974, as amended, Section 4975 of the Internal Revenue Code
of 1986, as amended, or any applicable similar law.

 

e.
The undersigned acknowledges and agrees that the undersigned has received such information as the undersigned deems necessary
in order to make an investment decision with respect to the Shares. Without limiting the generality of the foregoing, the undersigned
acknowledges that it has reviewed (i) the SEC Reports, (ii) the Transaction Agreement, a copy of which will be filed by the Company
with the SEC, and (iii) the investor presentation by the Company and Indie Semiconductor, a copy of which will be furnished by
the Company to the SEC ((i), (ii) and (iii) together, the “Investor Disclosure Package”). The undersigned represents
and agrees that the undersigned and the undersigned’s professional advisor(s), if any, have had the full opportunity to
ask the Company’s management questions, receive such answers and obtain such information as the undersigned and such undersigned’s
professional advisor(s), if any, have deemed necessary to make an investment decision with respect to the Shares. The undersigned
further acknowledges that the information contained in the Investor Disclosure Package is preliminary and subject to change, and
that any changes to the information contained in the Investor Disclosure Package, including, without limitation, any changes based
on updated information or changes in terms of the Transaction, shall in no way affect the undersigned’s obligation to purchase
the Shares hereunder, except as otherwise provided herein.

 

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f.
The undersigned became aware of this Offering of the Shares solely by means of direct contact between the undersigned and the
Company, the Placement Agents or a representative of the Company or Placement Agents, and the Shares were offered to the undersigned
solely by direct contact between the undersigned and the Company, the Placement Agents or a representative of the Company or Placement
Agents. The undersigned acknowledges that the Company represents and warrants that the Shares (i) were not offered by any form
of general solicitation or general advertising and (ii) are not being offered in a manner involving a public offering under, or
in a distribution in violation of, the Securities Act, or any state securities laws. The undersigned has a substantive pre-existing
relationship with the Company, Indie Semiconductor or its affiliates or a Placement Agent for the Offering of the Shares.

 

g.
The undersigned acknowledges that it is aware that there are substantial risks incident to the purchase and ownership of the Shares,
including those set forth in the Investor Disclosure Package and in the SEC Reports. The undersigned has such knowledge and experience
in financial and business matters as to be capable of evaluating the merits and risks of an investment in the Shares, and the
undersigned has sought such accounting, legal and tax advice as the undersigned has considered necessary to make an informed investment
decision.

 

h.
Alone, or together with any professional advisor(s), the undersigned has adequately analyzed and fully considered the risks of
an investment in the Shares and determined that the Shares are a suitable investment for the undersigned and that the undersigned
is able at this time and in the foreseeable future to bear the economic risk of a total loss of the undersigned’s investment
in the Company. The undersigned acknowledges specifically that a possibility of total loss exists.

 

i.
In making its decision to purchase the Shares, the undersigned has relied solely upon independent investigation made by the undersigned
and the representations and warranties set forth herein. Without limiting the generality of the foregoing, the undersigned has
not relied on any statements or other information provided by the Placement Agents concerning the Company or the Shares or the
offer and sale of the Shares.

 

j.
The undersigned understands and agrees that no federal or state agency has passed upon or endorsed the merits of the Offering
of the Shares or made any findings or determination as to the fairness of this investment or the accuracy or adequacy of the Investor
Disclosure Package or the SEC Reports.

 

k.
The undersigned has been duly formed or incorporated and is validly existing in good standing under the laws of its jurisdiction
of incorporation or formation.

 

l.
The execution, delivery and performance by the undersigned of this Subscription Agreement are within the powers of the undersigned,
have been duly authorized and will not constitute or result in a breach or default under or conflict with any order, ruling or
regulation of any court or other tribunal or of any governmental commission or agency, or any agreement or other undertaking,
to which the undersigned is a party or by which the undersigned is bound, and, if the undersigned is not an individual, will not
violate any provisions of the undersigned’s charter documents, including, without limitation, its incorporation or formation
papers, bylaws, indenture of trust or partnership or operating agreement, as may be applicable, which would reasonably be expected
to materially affect the legal authority of the undersigned to comply in all material respects with the terms of this Subscription
Agreement. The signature on this Subscription Agreement is genuine, and the signatory, if the undersigned is an individual, has
legal competence and capacity to execute the same or, if the undersigned is not an individual the signatory has been duly authorized
to execute the same, and this Subscription Agreement constitutes a legal, valid and binding obligation of the undersigned, enforceable
against the undersigned in accordance with its terms, except as may be limited or otherwise affected by (i) bankruptcy, insolvency,
fraudulent conveyance, reorganization, moratorium or other laws relating to or affecting the rights of creditors generally, and
(ii) principles of equity, whether considered at law or equity.

 

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m.
Neither the due diligence investigation conducted by the undersigned in connection with making its decision to acquire the Shares
nor any representations and warranties made by the undersigned herein shall modify, amend or affect the undersigned’s right
to rely on the truth, accuracy and completeness of the Company’s representations and warranties contained herein.

 

n.
The undersigned is not (i) a person or entity named on the List of Specially Designated Nationals and Blocked Persons administered
by the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) or in any Executive Order
issued by the President of the United States and administered by OFAC (“OFAC List”), or a person or entity
prohibited by any OFAC sanctions program, (ii) a Designated National as defined in the Cuban Assets Control Regulations, 31 C.F.R.
Part 515, or (iii) a non-U.S. shell bank or providing banking services indirectly to a non-U.S. shell bank (collectively, a “Prohibited
Investor”). The undersigned agrees to provide law enforcement agencies, if requested thereby, such records as required
by applicable law, provided that the undersigned is permitted to do so under applicable law. If the undersigned is a financial
institution subject to the Bank Secrecy Act (31 U.S.C. Section 5311 et seq.) (the “BSA”), as amended by the
USA PATRIOT Act of 2001 (the “PATRIOT Act”), and its implementing regulations (collectively, the “BSA/PATRIOT
Act”), the undersigned maintains policies and procedures reasonably designed to comply with applicable obligations under
the BSA/PATRIOT Act. To the extent required, it maintains policies and procedures reasonably designed for the screening of its
investors against the OFAC sanctions programs, including the OFAC List. To the extent required, it maintains policies and procedures
reasonably designed to ensure that the funds held by the undersigned and used to purchase the Shares were legally derived.

 

o.
No disclosure or offering document has been prepared by any Placement Agent in connection with the offer and sale of the Shares.

 

p.
None of the Placement Agents nor any of their respective members, directors, officers, employees, representatives and controlling
persons have made any independent investigation with respect to the Company or the Shares or the accuracy, completeness or adequacy
of any information supplied to the undersigned by the Company.

 

q.
In connection with the issue and purchase of the Shares, no Placement Agent has acted as the undersigned’s financial advisor
or fiduciary.

 

r.
The undersigned will deliver on the Closing Date a signed copy of the “investor representation letter” in substantially
the form attached as Schedule A hereto.

 

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6.
Registration Rights.

 

a.
The Company agrees that, prior to the date that is 30 calendar days after the consummation of the Transaction (the “Filing
Date”), the Company (or its successor) will file with the SEC (at the Company’s sole cost and expense) a registration
statement registering the resale of the Shares (the “Registration Statement”), and the Company shall use its
commercially reasonable efforts to have the Registration Statement declared effective as soon as practicable after the filing
thereof, but not later than the earlier of (i) 90 calendar days (or 120 calendar days if the SEC notifies the Company that it
will “review” the Registration Statement) following the Closing and (ii) five (5) business days after the date the
Company is notified (orally or in writing, whichever is earlier) by the SEC that the Registration Statement will not be “reviewed”
or will not be subject to further comments from the SEC (the “Effectiveness Date”). The Company agrees that
the Company will cause such Registration Statement or another registration statement (which may be a “shelf” registration
statement) to remain effective until the earlier of (i) two years from the issuance of the Shares, or (ii) on the first date on
which the undersigned can sell all of its Shares (or shares received in exchange therefor) under Rule 144 of the Securities Act
without limitation as to the manner of sale or the amount of such securities that may be sold (the “Registration Period”).
The undersigned agrees to disclose its beneficial ownership, as determined in accordance with Rule 13d-3 of the Exchange Act,
of Shares to the Company (or its successor) upon request to assist the Company in making the determination described above. The
Company’s obligations to include the Shares in the Registration Statement are contingent upon the undersigned furnishing
in writing to the Company such information regarding the undersigned, the securities of the Company held by the undersigned and
the intended method of disposition of the Shares as shall be reasonably requested by the Company to effect the registration of
the Shares, and shall execute such documents in connection with such registration as the Company may reasonably request that are
customary of a selling stockholder in similar situations, provided that the undersigned shall not in connection with the foregoing
be required to execute any lock-up or similar agreement or otherwise be subject to any contractual restriction on the ability
to transfer the Shares. Any failure by the Company to file the Registration Statement by the Filing Date or to effect such Registration
Statement by the Effectiveness Date shall not otherwise relieve the Company of its obligations to file or effect the Registration
Statement as set forth in this Section 6.

 

b.
In the case of the registration, qualification, exemption or compliance effected by the Company pursuant to this Agreement, the
Company shall, upon reasonable request, inform the undersigned as to the status of such registration, qualification, exemption
and compliance. At its expense, the Company shall:

 

i.
except for such times as the Company is permitted hereunder to suspend the use of the prospectus forming part of a Registration
Statement, use its commercially reasonable efforts to keep such registration, and any qualification, exemption or compliance under
state securities laws which the Company determines to obtain, continuously effective with respect to the undersigned, and to keep
the applicable Registration Statement or any subsequent shelf registration statement free of any material misstatements or omissions
for the Registration Period;

 

    11

     

    

 

ii.
advise the undersigned within five (5) business days: (A) when a Registration Statement or any amendment thereto has been filed
with the SEC and when such Registration Statement or any post-effective amendment thereto has become effective; (B) of the issuance
by the SEC of any stop order suspending the effectiveness of any Registration Statement or the initiation of any proceedings for
such purpose; (C) of the receipt by the Company of any notification with respect to the suspension of the qualification of the
Shares included therein for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; and
(D) subject to the other provisions of this Agreement, of the occurrence of any event that requires the making of any changes
in any Registration Statement or prospectus so that, as of such date, the statements therein are not misleading and do not omit
to state a material fact required to be stated therein or necessary to make the statements therein (in the case of a prospectus,
in the light of the circumstances under which they were made) not misleading; provided, however, that the Company shall not, when
so advising the undersigned of such events, provide the undersigned with any material, nonpublic information regarding the Company
other than to the extent that providing notice to the undersigned of the occurrence of the events listed in (A) through (D) above
constitutes material, nonpublic information regarding the Company;

 

iii.
use its commercially reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of any Registration
Statement as soon as reasonably practicable;

 

iv.
upon the occurrence of any event contemplated above, except for such times as the Company is permitted hereunder to suspend, and
has suspended, the use of a prospectus forming part of a Registration Statement, the Company shall use its commercially reasonable
efforts to prepare as soon as reasonably practicable a post-effective amendment to such Registration Statement or a supplement
to the related prospectus, or file any other required document so that, as thereafter delivered to purchasers of the Shares included
therein, such prospectus will not include any untrue statement of a material fact or omit to state any material fact necessary
to make the statements therein, in the light of the circumstances under which they were made, not misleading;

 

v.
use its commercially reasonable efforts to cause all Shares to be listed on each securities exchange or market, if any, on which
the shares of Class A Ordinary Shares have been listed; and

 

vi.
use its commercially reasonable efforts (x) to take all other steps necessary to effect the registration of the Shares contemplated
herein and (y) for so long as the undersigned holds Shares, to file all reports and other materials required to be filed by the
Exchange Act so long as the Company remains subject to such requirements and the filing of such reports and other documents is
required for the applicable provisions of Rule 144 to enable the undersigned to sell the Shares under Rule 144.

 

    12

     

    

 

c.
The Company may delay filing or suspend the use of any such registration statement if it determines that in order for the registration
statement to not contain a material misstatement or omission, an amendment thereto would be needed, or if such filing or use could
materially affect a bona fide business or financing transaction of the Company or would require premature disclosure of information
that could materially adversely affect the Company (each such circumstance, a “Suspension Event”); provided,
that, (i) the Company shall not so delay filing or so suspend the use of the Registration Statement for a period of more than
sixty (60) consecutive days or more than two (2) times in any three hundred and sixty (360) day period and (ii) the Company shall
use commercially reasonable efforts to make such registration statement available for the sale by the undersigned of such securities
as soon as practicable thereafter. Upon receipt of any written notice from the Company (which notice shall not contain any material
non-public information regarding the Company) of the happening of any Suspension Event during the period that the Registration
Statement is effective or if as a result of a Suspension Event the Registration Statement or related prospectus contains any untrue
statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements
therein, in light of the circumstances under which they were made (in the case of the prospectus) not misleading, the undersigned
agrees that it will immediately discontinue offers and sales of the Shares under the Registration Statement (excluding, for the
avoidance of doubt, sales conducted pursuant to Rule 144) until the undersigned receives copies of a supplemental or amended prospectus
(which the Company agrees to promptly prepare) that corrects the misstatement(s) or omission(s) referred to above and receives
notice that any post-effective amendment has become effective or unless otherwise notified by the Company that it may resume such
offers and sales. If so directed by the Company, the undersigned will deliver to the Company or, in the undersigned’s sole
discretion destroy, all copies of the prospectus covering the Shares in the undersigned’s possession; provided, however,
that this obligation to deliver or destroy all copies of the prospectus covering the Shares shall not apply (i) to the extent
the undersigned is required to retain a copy of such prospectus (a) in order to comply with applicable legal, regulatory, self-regulatory
or professional requirements or (b) in accordance with a bona fide pre-existing document retention policy or (ii) to copies stored
electronically on archival servers as a result of automatic data back-up. Not less than three (3) business days prior to filing
the Registration Statement (or any amendment thereto), the Company will provide the undersigned an opportunity to review and comment
on the disclosure regarding the undersigned.

 

d.
For purposes of this Section 6, “Shares” shall mean, as of any date of determination, the Shares purchased by the
undersigned pursuant to this Agreement and any other equity security issued or issuable with respect to the Shares by way of share
split, dividend, distribution, recapitalization, merger, exchange, replacement or similar event, including any equity securities
of Surviving Pubco received with respect to the Shares pursuant to the Transaction.

 

e.
The Company shall, notwithstanding any termination of this Subscription Agreement, indemnify, defend and hold harmless the undersigned
(to the extent a seller under the Registration Statement), the officers, directors, agents, partners, members, managers, stockholders,
affiliates, employees and investment advisers of the undersigned, each person who controls the undersigned (within the meaning
of Section 15 of the Securities Act or Section 20 of the Exchange Act) and the officers, directors, partners, members, managers,
stockholders, agents, affiliates, employees and investment advisers of each such controlling person, to the fullest extent permitted
by applicable law, from and against any and all losses, claims, damages, liabilities, costs (including, without limitation, reasonable
external attorneys’ fees) and expenses (collectively, “Losses”), as incurred, that arise out of or are
based upon (i) any untrue or alleged untrue statement of a material fact contained in the Registration Statement, any prospectus
included in the Registration Statement or any form of prospectus or in any amendment or supplement thereto or in any preliminary
prospectus, or arising out of or relating to any omission or alleged omission to state a material fact required to be stated therein
or necessary to make the statements therein (in the case of any prospectus or form of prospectus or supplement thereto, in light
of the circumstances under which they were made) not misleading, or (ii) any violation or alleged violation by the Company of
the Securities Act, Exchange Act or any state securities law or any rule or regulation thereunder, in connection with the performance
of its obligations under this Section 6, except to the extent, but only to the extent, that such untrue statements, alleged untrue
statements, omissions or alleged omissions are based upon information regarding the undersigned furnished in writing to the Company
by the undersigned expressly for use therein. The Company shall notify the undersigned promptly of the institution, threat or
assertion of any proceeding arising from or in connection with the transactions contemplated by this Section 6 of which the Company
is aware. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of an indemnified
party and shall survive the transfer of the Shares by the undersigned. Notwithstanding the forgoing, the Company’s indemnification
obligations shall not apply to amounts paid in settlement of any Losses or action if such settlement is effected without the prior
written consent of the Company (which consent shall not be unreasonably withheld or delayed).

 

    13

     

    

 

f.
The undersigned shall, severally and not jointly with any other subscriber in the Offering, indemnify and hold harmless the Company,
its directors, officers, agents and employees, each person who controls the Company (within the meaning of Section 15 of the Securities
Act and Section 20 of the Exchange Act), and the directors, officers, agents or employees of such controlling persons, to the
fullest extent permitted by applicable law, from and against all Losses, as incurred, arising out of or are based upon any untrue
or alleged untrue statement of a material fact contained in any Registration Statement, any prospectus included in the Registration
Statement, or any form of prospectus, or in any amendment or supplement thereto or in any preliminary prospectus, or arising out
of or relating to any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements
therein (in the case of any prospectus, or any form of prospectus or supplement thereto, in light of the circumstances under which
they were made) not misleading to the extent, but only to the extent, that such untrue statements or omissions are based upon
information regarding the undersigned furnished in writing to the Company by the undersigned expressly for use therein. In no
event shall the liability of the undersigned be greater in amount than the dollar amount of the net proceeds received by the undersigned
upon the sale of the Shares giving rise to such indemnification obligation. Notwithstanding the forgoing, the undersigned’s
indemnification obligations shall not apply to amounts paid in settlement of any Losses or action if such settlement is effected
without the prior written consent of the undersigned (which consent shall not be unreasonably withheld or delayed).

 

7.
Termination. This Subscription Agreement shall terminate and be void and of no further force and effect, and all rights
and obligations of the parties hereunder shall terminate without any further liability on the part of any party in respect thereof,
upon the earlier to occur of (a) such date and time as the Transaction Agreement is terminated in accordance with its terms, (b)
upon the mutual written agreement of each of the parties hereto to terminate this Subscription Agreement or (c) the transactions
contemplated by this Subscription Agreement are not consummated prior to June 30, 2021; provided that nothing herein will
relieve any party from liability for any willful breach hereof prior to the time of termination, and each party will be entitled
to any remedies at law or in equity to recover reasonable and documented out-of-pocket losses, liabilities or damages arising
from such breach. The Company shall promptly notify the undersigned of the termination of the Transaction Agreement promptly after
the termination of such agreement.

 

    14

     

    

 

8.
Trust Account Waiver. Reference is made to the final prospectus of the Company, filed with the SEC (File No. 333-232688)
(the “Prospectus”), and dated as of August 8, 2019. The Company shall provide the undersigned with a copy of
the Prospectus upon request and the undersigned hereby represents and warrants that it understands that the Company has established
a trust account (the “Trust Account”) containing the proceeds of its initial public offering (the “IPO”)
and from certain private placements occurring simultaneously with the IPO (including interest accrued from time to time thereon)
for the benefit of the Company’s public stockholders (including overallotment shares acquired by the Company’s underwriters,
the “Public Stockholders”), and that, except as otherwise described in the Prospectus, the Company may disburse
monies from the Trust Account only: (a) to the Public Stockholders in the event they elect to redeem their Company shares in connection
with the consummation of the Company’s initial business combination (as such term is used in the Prospectus) (the “Business
Combination”) or in connection with an extension of the deadline to consummate a Business Combination, (b) to the Public
Stockholders if the Company fails to consummate a Business Combination within twenty-four (24) months after the closing of the
IPO, (c) with respect to any interest earned on the amounts held in the Trust Account, as necessary to pay any franchise or income
taxes or (d) to the Company after or concurrently with the consummation of a Business Combination. For and in consideration of
the Company entering into this Subscription Agreement, and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the undersigned, on behalf of itself and its controlling persons acting on its behalf, hereby
agrees that, notwithstanding anything to the contrary in this Subscription Agreement, (i) it and its controlling persons acting
on its behalf do not now and shall not at any time hereafter have any right, title, interest or claim of any kind in or to any
assets held in the Trust Account (including distributions directly or indirectly to public stockholders therefrom (“Public
Distributions”)) arising from, as a result of or in connection with this Subscription Agreement, any ancillary documents
entered in connection herewith, the transactions contemplated hereby or thereby, or any discussions in connection therewith, (ii)
agrees that it shall not make any claim against the Trust Account (including Public Distributions) arising from, as a result of
or in connection with this Subscription Agreement, any ancillary documents entered in connection herewith, the transactions contemplated
hereby or thereby, or any discussions in connection therewith, regardless of whether such claim arises based on contract, tort,
equity or any other theory of legal liability (collectively, the “Released Claims”), (iii) it and its controlling
persons acting on its behalf shall not make any claim against the Trust Account (including Public Distributions) for any Released
Claims, (iv) it and its controlling persons acting on its behalf hereby irrevocably waive any Released Claims that it or its controlling
persons acting on its behalf may have against the Trust Account (including any Public Distributions) now or in the future, (v)
it and its controlling persons acting on its behalf will not seek recourse against the Trust Account (including Public Distributions)
in respect of any Released Claims, and (vi) such irrevocable waiver set forth herein is material to this Subscription Agreement
and specifically relied upon by the Company and its affiliates to induce the Company to enter in this Subscription Agreement,
and the undersigned further intends and understands such waiver to be valid, binding and enforceable under applicable law against
the undersigned and each of its controlling persons acting on its behalf, except as may be limited or otherwise affected by (i)
bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or other laws relating to or affecting the rights of
creditors generally, and (ii) principles of equity, whether considered at law or equity. For the avoidance of doubt, the parties
acknowledge that the undersigned and its controlling persons acting on its behalf are not releasing or waiving any rights that
they may have as Public Stockholders to receive funds from the Trust Account in their capacity as Public Stockholders upon the
redemption of their shares of the Company or the liquidation of the Company, as described in the Prospectus or any other right,
title, interest or claim to the Trust Account by virtue of undersigned’s record or beneficial ownership of securities of
the Company acquired by any means other than pursuant to this Subscription Agreement. Notwithstanding anything to the contrary
contained in this Subscription Agreement, the provisions of this Section 8 shall survive the Closing or any termination of this
Subscription Agreement and last indefinitely.

 

    15

     

    

 

9.
Miscellaneous.

 

a.
Neither this Subscription Agreement nor any rights that may accrue to the undersigned hereunder (other than the Shares acquired
hereunder, if any) may be transferred or assigned; provided that the undersigned may assign its rights and obligations hereunder
pursuant to a joinder to this Subscription Agreement in form and substance reasonably satisfactory to the Company, to one or more
funds or investment vehicles advised or managed by the undersigned or its affiliates, but such assignment shall not relieve the
undersigned from any of its obligations or liabilities hereunder. At the Closing, the number of Shares delivered pursuant to this
Subscription Agreement by the Company to the undersigned and its permitted assignees shall equal, in the aggregate, the number
of Shares set forth on the undersigned’s signature page hereto.

 

b.
The Company may request from the undersigned such additional information as the Company may deem necessary to evaluate the eligibility
of the undersigned to acquire the Shares, and the undersigned shall provide such information as may reasonably be requested to
the Company promptly upon such request, to the extent readily available and to the extent consistent with its internal policies
and procedures; provided, that the Company agrees to keep such information confidential.

 

c.
The undersigned acknowledges that the Company, the Placement Agents and others will rely on the acknowledgments, understandings,
agreements, representations and warranties contained in this Subscription Agreement. Prior to the Closing, the undersigned agrees
to promptly notify the Company if any of the acknowledgments, understandings, agreements, representations and warranties of the
undersigned set forth herein are no longer accurate. The parties further acknowledge and agree that the Placement Agents are third-party
beneficiaries of the representations and warranties of the parties contained in this Subscription Agreement.

 

d.
The Company and the undersigned are entitled to rely upon this Subscription Agreement and is irrevocably authorized to produce
this Subscription Agreement or a copy hereof to any interested party in any administrative or legal proceeding or official inquiry
with respect to the matters covered hereby. The undersigned shall consult with the Company in issuing any press release or making
any other similar public statement with respect to the transactions contemplated hereby, and the undersigned shall not issue any
such press release or make any such public statement without the prior consent (such consent not to be unreasonably withheld or
delayed) of the Company, provided that the consent of the Company shall not be required if such disclosure is required by law,
in which case the undersigned shall promptly provide the other party with prior notice of such disclosure. Notwithstanding the
foregoing, the Company shall not publicly disclose the name of the undersigned or any affiliate or investment adviser of the undersigned
without the prior written consent (including by e-mail) of the undersigned, except as required by the federal securities laws,
rules or regulations and to the extent such disclosure is required by other laws, rules or regulations, at the request of the
staff of the Commission or regulatory agency or under Nasdaq regulations, in which case the Company shall provide the undersigned
with prior written notice (including by e-mail) of such permitted disclosure, and shall reasonably consult with the undersigned
regarding such disclosure. The undersigned hereby consents to the Company issuing a press release in the form attached hereto
as Schedule B.

 

    16

     

    

 

e.
All the agreements, representations and warranties made by each party hereto in this Subscription Agreement shall survive the
Closing.

 

f.
The Company shall, by 9:00 a.m., New York City time, on the first (1st) business day immediately following the date of this Subscription
Agreement, issue one or more press releases or file with the SEC a Current Report on Form 8-K (collectively, the “Disclosure
Document”) disclosing, to the extent not previously publicly disclosed, all material terms of the transactions contemplated
hereby (and of the Other Subscription Agreements entered into prior to the release or filing of such Disclosure Document in connection
with the Offering), the Transaction and any other material, nonpublic information that the Company has, directly or indirectly
through the Placement Agents, provided to the undersigned at any time prior to the filing of the Disclosure Document. Upon the
issuance of the Disclosure Document, the undersigned shall not be in possession of any material, non-public information received
directly from the Company or any of its officers, directors or employees or indirectly from the Placement Agents and the undersigned
shall no longer be subject to any confidentiality or similar obligations under any current agreement, whether written or oral
with the Company, the Placement Agents or any of their respective affiliates.

 

g.
This Subscription Agreement may not be modified, waived or terminated except by an instrument in writing, signed by the party
against whom enforcement of such modification, waiver, or termination is sought.

 

h.
This Subscription Agreement constitutes the entire agreement, and supersedes all other prior agreements, understandings, representations
and warranties, both written and oral, among the parties, with respect to the subject matter hereof. This Subscription Agreement
shall not confer any rights or remedies upon any person other than the parties hereto, and their respective successor and assigns.

 

i.
This Subscription 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, and the agreements, representations, warranties, covenants
and acknowledgments contained herein shall be deemed to be made by, and be binding upon, such heirs, executors, administrators,
successors, legal representatives and permitted assigns.

 

j.
If any provision of this Subscription Agreement shall be invalid, illegal or unenforceable, the validity, legality or enforceability
of the remaining provisions of this Subscription Agreement shall not in any way be affected or impaired thereby and shall continue
in full force and effect.

 

k.
This Subscription Agreement may be executed in one or more counterparts (including by facsimile or electronic mail or in .pdf)
and by different parties in separate counterparts, with the same effect as if all parties hereto had signed the same document.
All counterparts so executed and delivered shall be construed together and shall constitute one and the same agreement.

 

    17

     

    

 

l.
The parties hereto agree that irreparable damage would occur in the event that any of the provisions of this Subscription Agreement
were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the parties
shall be entitled to an injunction or injunctions to prevent breaches of this Subscription Agreement and to enforce specifically
the terms and provisions of this Subscription Agreement, this being in addition to any other remedy to which such party is entitled
at law, in equity, in contract, in tort or otherwise.

 

m.
THIS SUBSCRIPTION AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT
REGARD TO THE PRINCIPLES OF CONFLICTS OF LAWS THAT WOULD OTHERWISE REQUIRE THE APPLICATION OF THE LAW OF ANY OTHER STATE. EACH
PARTY HERETO HEREBY WAIVES ANY RIGHT TO A JURY TRIAL IN CONNECTION WITH ANY LITIGATION PURSUANT TO THIS SUBSCRIPTION AGREEMENT
AND THE TRANSACTIONS CONTEMPLATED HEREBY.

 

n.
If any change in the Class A Ordinary Shares shall occur between the date hereof and immediately prior to the Closing by reason
of any reclassification, recapitalization, stock split (including reverse stock split) or combination, exchange or readjustment
of shares, or any stock dividend, the number and type of Shares issued to the undersigned and the Purchase Price shall be appropriately
adjusted to reflect such change.

 

o.
All notices and other communications hereunder shall be in writing and shall be deemed to have been duly given if mailed or transmitted
and confirmed by any standard form of telecommunication.

 

Notice
to the Company shall be given to:

 

Thunder
Bridge Acquisition II, Ltd.

9912
Georgetown Pike, Suite D203

Great
Falls, Virginia 22066

Attn.:
Gary A. Simanson

 

with
a copy to (which shall not constitute notice):

 

Nelson
Mullins Riley & Scarborough LLP

101
Constitution Ave NW, Suite 900

Washington,
DC 20001

Attn.:
Jonathan Talcott and E. Peter Strand

jon.talcott@nelsonmullins.com
and peter.strand@nelsonmullins.com

 

and

 

Ellenoff
Grossman & Schole LLP

1345
Avenue of the Americas, 11th Floor

New
York, New York 10105

Attn.:
Douglas Ellenoff, Esq. and Matthew A. Gray, Esq.

ellenoff@egsllp.com
and mgray@egsllp.com

 

    18

     

    

 

Notice
to the Placement Agents shall be given to:

 

Morgan
Stanley & Co, LLC

1585
Broadway

New
York, New York 10036

Attention:
Paul Wasinger and Taylor Wright

 

Deutsche
Bank Securities Inc.

60
Wall Street

New
York, New York 10005

Attention:
Benjamin Darsney

with a copy to (which shall not constitute notice):

 

Ropes
& Gray LLP

1211
Avenue of the Americas

New
York, New York 10036

Attention:
Paul D. Tropp, Esq. and Christopher J. Capuzzi, Esq.

Paul.tropp@ropesgray.com

 

Notice
to Indie Semiconductor shall be given to:

 

indie
Semiconductor

32
Journey

Aliso
Viejo, California 92656

Attn.:
Tom Schiller, CFO

tom@indiesemi.com

 

With
a required copy to (which shall not constitute notice):

 

Loeb
& Loeb LLP

345
Park Avenue

New
York, New York 10154

Attn.:
Mitchell Nussbaum and Giovanni Caruso

mnussbaum@loeb.com
and gcaruso@loeb.com

 

10.
Non-Reliance and Exculpation. The undersigned acknowledges that it is not relying upon, and has not relied upon, any
statement, representation or warranty made by any person, firm or corporation (including, without limitation, the Placement Agents,
any of its affiliates or any of its or their control persons, officers, directors and employees), other than the statements, representations
and warranties contained in this Subscription Agreement, in making its investment or decision to invest in the Company. The undersigned
agrees that, without limiting the Company’s obligations hereunder, neither (i) any other purchaser pursuant to this Subscription
Agreement or any other Subscription Agreement related to the private placement of the Shares (including the respective controlling
persons, members, officers, directors, partners, agents, or employees of any purchaser) nor (ii) absent their own gross negligence,
fraud or willful misconduct, Placement Agents, their respective affiliates or any of their control persons, officers, directors
or employees, shall be liable to any other purchaser pursuant to this Subscription Agreement or any other Subscription Agreement
related to the private placement of the Shares for any action heretofore or hereafter taken or omitted to be taken by any of them
in connection with the purchase of the Shares.

 

    19

     

    

 

11.
Additional Agreements.

 

a.
Neither the Company nor any of its affiliates and subsidiaries (if any) (collectively, the “Company Group”)
shall identify, or permit any of its employees, agents or representatives to identify, the undersigned (whether in connection
with the Company or in the undersigned’s capacity as an investor in the Company) in any written or oral public communications
or issue any press release or other disclosure of the undersigned’s name or the name of any of its affiliates, or any derivative
of any of the foregoing names (collectively, the “Investor Names”), in each case except (i) as authorized in
writing by the undersigned in each such instance (electronic mail to suffice) or (ii) as required by applicable law, legal process
or regulatory request (“Applicable Law”); provided, that such disclosing member of the Company Group as soon
as practicable notifies the undersigned of such requirement (except where prohibited by Applicable Law ) so that the undersigned
(or its applicable affiliate) may seek a protective order or other appropriate remedy prior to such disclosure. Notwithstanding
the foregoing, the Company may make disclosures to an auditor or governmental or regulatory authority pursuant to any routine
investigation, inspection, examination or inquiry without providing the undersigned with any notification thereof, unless the
undersigned is the subject of any such investigation, inspection, examination or inquiry (in which case the preceding sentence
shall govern).

 

b.
Reference is made to the PPP Loan of $1,868,700.00 received by Indie Semiconductor from East West Bank on April 10, 2020 (the
“Loan”). Notwithstanding anything otherwise permitted under applicable law, Indie Semiconductor shall not seek
forgiveness of the Loan or any other waiver or reduction of payment of the Loan. Indie Semiconductor agrees to repay the Loan
in full with all applicable owed interest and other payments in accordance with the terms of the Loan within 5 days of the Closing.

 

[SIGNATURE
PAGES FOLLOW]

 

    20

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Subscription Agreement to be duly executed by their respective authorized
signatories as of the date first indicated above.

 

	THUNDER
BRIDGE ACQUISITION II, LTD.	 	Address
for Notice: 
	 	 	 
	 	 	Thunder Bridge Acquisition II, Ltd.
	 	 	9912 Georgetown Pike, Suite D203
	 	 	Great Falls, Virginia 22066
	 	 	 
	By:	 	 	 
	 	Name: Gary Simanson	 	 
	 	Title: Chief Executive Officer	 	 

 

[Subscription Agreement]

 

     

     

    

 

[PURCHASER
SIGNATURE PAGES TO SUBSCRIPTION AGREEMENT]

 

IN
WITNESS WHEREOF, the undersigned have caused this Subscription Agreement to be duly executed by their respective authorized signatories
as of the date first indicated above.

 

Name(s)
of Subscriber: ________________________________________________________

 

Signature
of Authorized Signatory of Subscriber: __________________________________

 

Name
of Authorized Signatory: ____________________________________________________

 

Title
of Authorized Signatory: _____________________________________________________

 

Email
Address of Authorized Signatory: ______________________________________________

 

Facsimile
Number of Authorized Signatory: _____________________________________________

 

Address
for Notice to Subscriber:

 

_____________________________________________

 

_____________________________________________

 

_____________________________________________

 

Address
for Delivery of Shares to Subscriber (if not same as address for notice):

 

_____________________________________________

 

_____________________________________________

 

_____________________________________________

 

Subscription
Amount: $_________________

 

Shares:
_________________

 

EIN
Number: _______________________

 

[SIGNATURE
PAGES CONTINUE]

 

     

     

    

 

SCHEDULE
A

 

INVESTOR
REPRESENTATION LETTER

 

     

     

    

 

Morgan
Stanley & Co, LLC

1585
Broadway

New
York, New York 10036

 

Deutsche
Bank Securities Inc.

60
Wall Street

New
York, New York 10005

 

		Re:	Purchase
                                         of shares of common stock (the “Securities”) issued by the successor
                                         to Thunder Bridge Acquisition II, Ltd. (the “Company”)

 

Ladies
and Gentlemen:

 

In
connection with the offer and sale of the Securities to be issued by the Company, we represent, warrant, agree and acknowledge
as follows:

 

		1.	No
                                         disclosure or offering document has been prepared in connection with the offer and sale
                                         of the Securities by Morgan Stanley & Co, LLC or any of its affiliates (“Morgan
                                         Stanley”) or Deutsche Bank Securities, Inc. or any of its affiliates (“DB”).

 

		2.	(a)
                                         We have relied solely upon our independent investigation and we have not relied on any
                                         statements or other information provided by Morgan Stanley concerning the Company or
                                         the Securities or the offer and sale of the Securities; (b) we have received such information
                                         as we deem necessary in order to make an investment decision with respect to the Securities;
                                         (c) we have had the full opportunity to ask the Company’s management questions,
                                         receive such answers, and obtain such information as we and our professional advisor(s),
                                         if any, have deemed necessary to make an investment decision with respect to the Securities;
                                         and (d) we have sought such accounting, legal and tax advice as we have considered necessary
                                         to make an informed investment decision.

 

		3.	None
                                         of Morgan Stanley, DB and their directors, officers, employees, representatives and controlling
                                         persons have made any independent investigation with respect to the Company or the Securities
                                         or the accuracy, completeness or adequacy of any information supplied to us by the Company.

 

		4.	In
                                         connection with the issue and purchase of the Securities, neither Morgan Stanley nor
                                         DB has acted as our financial advisor or fiduciary.

 

		5.	We
                                         are (x) a “qualified institutional buyer” (as defined in Rule 144A of the
                                         Securities Act of 1933 as amended (the “Securities Act”)), or (y)
                                         an institutional “accredited investor” (as defined in Rule 501(a)(1), (2),
                                         (3) or (7) under the Securities Act). Accordingly, we understand that and acknowledge
                                         that the purchase and sale of the Securities hereunder meets the exemptions from filing
                                         under FINRA Rule 5123(b)(1)(C) or (J).

 

     

     

    

 

		6.	We
                                         are acquiring the Securities only for our own account or for an account over which we
                                         exercise sole discretion for another qualified institutional buyer or accredited investor
                                         (each as defined above) and not on the account of others, and not on behalf of any other
                                         account or person or with a view to, or for offer or sale in connection with, any distribution
                                         thereof in violation of the Securities Act.

 

		7.	We
                                         have such knowledge and experience in financial and business matters as to be capable
                                         of evaluating the merits and risks of our prospective investment in the Securities; and
                                         we are able to, at this time and in the foreseeable future, bear the economic risk of
                                         a total loss of our investment in the Company.

 

		8.	The
                                         Securities have not been registered under the Securities Act or any other applicable
                                         securities laws, are being offered for resale in transactions not requiring registration
                                         under the Securities Act, and unless so registered, may not be offered, sold or otherwise
                                         transferred except in compliance with the registration requirements of the Securities
                                         Act or any other applicable securities laws, pursuant to any exemption therefrom or in
                                         a transaction not subject thereto.

 

	Very
    truly yours,	 
	 	 
	[NAME
    OF INVESTOR]	 
	 	 
	By:	    	 
	Name:	 
	Title:	 
	 	 
	Date:	 

 

     

     

    

 

SCHEDULE
B

 

APPROVED
PRESS RELEASEExhibit
4.1

 

WARRANT
AGENT AGREEMENT

 

This
WARRANT AGENT AGREEMENT (this “Warrant Agreement”) dated as of March 23, 2021 (the “Issuance
Date”) is between NuZee, Inc., a company incorporated under the laws of the State of Nevada (the “Company”),
and VStock Transfer, LLC (the “Warrant Agent”).

 

WHEREAS,
pursuant to the terms of that certain Underwriting Agreement (“Underwriting Agreement”), dated March 19, 2021,
by and among the Company and Aegis Capital Corp., as representatives of the underwriters set forth therein, the Company is engaged
in a public offering of up to 3,194,443 Units, each Unit consisting of one (1) share of common stock, par value $0.00001
per share (the “Common Stock”) of the Company, a Series A Warrant of the Company to purchase one (1) share
of Common Stock (the “Warrants”), and a Series B Warrant of the Company to purchase one-half (1/2) of a share
of Common Stock;

 

WHEREAS,
the Company has filed with the Securities and Exchange Commission (the “Commission”) a Registration Statement
on Form S-3 (File No. 333-248531) (as the same may be amended from time to time, the “Registration Statement”),
for the registration under the Securities Act of 1933, as amended (the “Securities Act”), of up to $100,000,000
aggregate public offering price of its Common Stock, preferred stock, debt securities, warrants or any combination of the foregoing,
either individually or as units composed of one or more of the other securities, or rights to purchase such securities, and such
Registration Statement was declared effective on October 2, 2020; and

 

WHEREAS,
the Company has filed with the Commission a prospectus supplement and the accompanying prospectus contained in the Registration
Statement relating to the offering and sale of the Units; and

 

WHEREAS,
the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in accordance
with the terms set forth in this Warrant Agreement in connection with the issuance, registration, transfer, exchange and exercise
of the Warrants;

 

WHEREAS,
the Company desires to provide for the provisions of the Warrants, the terms upon which they shall be issued and exercised, and
the respective rights, limitation of rights, and immunities of the Company, the Warrant Agent, and the holders of the Warrants;
and

 

WHEREAS,
all acts and things have been done and performed which are necessary to make the Warrants the valid, binding and legal obligations
of the Company, and to authorize the execution and delivery of this Warrant Agreement.

 

NOW,
THEREFORE, in consideration of the mutual agreements herein contained, the parties hereto agree as follows:

 

1.
Appointment of Warrant Agent. The Company hereby appoints the Warrant Agent to act as agent for the Company with respect
to the Warrants, and the Warrant Agent hereby accepts such appointment and agrees to perform the same in accordance with the express
terms and conditions set forth in this Warrant Agreement (and no implied terms or conditions).

 

    	 

    	 

    

 

2.
Warrants.

 

2.1.
Form of Warrants. The Warrants shall be registered securities and shall be evidenced by a global warrant (“Global
Warrant”) in the form of Exhibit A to this Warrant Agreement, which shall be deposited on behalf of the Company
with a custodian for The Depository Trust Company (“DTC”) and registered in the name of Cede & Co., a nominee
of DTC. The terms of the Global Warrant are incorporated herein by reference. If DTC subsequently ceases to make its book-entry
settlement system available for the Warrants, the Company may instruct the Warrant Agent regarding making other arrangements for
book-entry settlement. In the event that the Warrants are not eligible for, or it is no longer necessary to have the Warrants
available in, book-entry form, the Company may instruct the Warrant Agent to provide written instructions to DTC to deliver to
the Warrant Agent for cancellation the Global Warrant, and the Company shall instruct the Warrant Agent to deliver to DTC separate
certificates evidencing Warrants (“Definitive Certificates” and, together with the Global Warrant, “Warrant
Certificates”) registered as requested through the DTC system.

 

2.2.
Issuance and Registration of Warrants.

 

2.2.1.
Warrant Register. The Warrant Agent shall maintain books (“Warrant Register”) for the registration of
original issuance and the registration of transfer of the Warrants.

 

2.2.2.
Issuance of Warrants. Upon the initial issuance of the Warrants, the Warrant Agent shall issue the Global Warrant and deliver
the Warrants in the DTC book-entry settlement system in accordance with written instructions delivered to the Warrant Agent by
the Company. Ownership of security entitlements in the Warrants shall be shown on, and the transfer of such ownership shall be
effected through, records maintained (i) by DTC and (ii) by institutions that have accounts with DTC (each, a “Participant”).

 

2.2.3.
Beneficial Owner; Holder. Prior to due presentment for registration of transfer of any Warrant, the Company and the Warrant
Agent may deem and treat the person in whose name that Warrant shall be registered on the Warrant Register (the “Holder”)
as the absolute owner of such Warrant for purposes of any exercise thereof, and for all other purposes, and neither the Company
nor the Warrant Agent shall be affected by any notice to the contrary. Notwithstanding the foregoing, nothing herein shall prevent
the Company, the Warrant Agent or any agent of the Company or the Warrant Agent from giving effect to any written certification,
proxy or other authorization furnished by DTC governing the exercise of the rights of a holder of a beneficial interest in any
Warrant. The rights of beneficial owners in a Warrant evidenced by the Global Warrant shall be exercised by the Holder or a Participant
through the DTC system, except to the extent set forth herein or in the Global Warrant.

 

    	 

    	 

    

 

2.2.4.
Delivery of Warrant Certificate. A Holder has the right to elect at any time or from time to time a Warrant Exchange (as
defined below) pursuant to a Warrant Certificate Request Notice (as defined below). Upon written notice by a Holder to the Warrant
Agent for the exchange of some or all of such Holder’s Global Warrants for a Warrant Certificate evidencing the same number
of Warrants, which request shall be in the form attached hereto as Exhibit B (a “Warrant Certificate Request Notice”
and the date of delivery of such Warrant Certificate Request Notice by the Holder, the “Warrant Certificate Request Notice
Date” and the deemed surrender upon delivery by the Holder of a number of Global Warrants for the same number of Warrants
evidenced by a Warrant Certificate, a “Warrant Exchange”), the Warrant Agent shall promptly effect the Warrant
Exchange and shall promptly issue and deliver to the Holder a Warrant Certificate for such number of Warrants in the name set
forth in the Warrant Certificate Request Notice. Such Warrant Certificate shall be dated the date of issuance of the Warrant Certificate,
shall include the initial exercise date of the Warrants, shall be executed by an authorized signatory of the Company and shall
be reasonably acceptable in all respects to such Holder. In connection with a Warrant Exchange, the Company agrees to deliver,
or to direct the Warrant Agent to deliver, the Warrant Certificate to the Holder within three (3) Business Days of the Warrant
Certificate Request Notice pursuant to the delivery instructions in the Warrant Certificate Request Notice (“Warrant
Certificate Delivery Date”). If the Company fails for any reason to deliver to the Holder the Warrant Certificate subject
to the Warrant Certificate Request Notice by the Warrant Certificate Delivery Date, the Company shall pay to the Holder, in cash,
as liquidated damages and not as a penalty, for each $1,000 of shares of Common Stock issuable upon exercise of the Warrants (the
“Warrant Shares”) evidenced by such Warrant Certificate (based on the VWAP (as defined in the Warrants) of
the Common Stock on the Warrant Certificate Request Notice Date), $10 per Business Day for each Business Day after such Warrant
Certificate Delivery Date until such Warrant Certificate is delivered or, prior to delivery of such Warrant Certificate, the Holder
rescinds such Warrant Exchange. The Company covenants and agrees that, upon the date of delivery of the Warrant Certificate Request
Notice, the Holder shall be deemed to be the holder of the Warrant Certificate and, notwithstanding anything to the contrary set
forth herein, the Warrant Certificate shall be deemed for all purposes to contain all of the terms and conditions of the Warrants
evidenced by such Warrant Certificate and the terms of this Agreement.

 

2.2.5.
Execution. The Warrant Certificates shall be executed on behalf of the Company by any authorized officer of the Company
(an “Authorized Officer”), which need not be the same authorized signatory for all of the Warrant Certificates,
either manually or by facsimile signature. The Warrant Certificates shall be countersigned by an authorized signatory of the Warrant
Agent, which need not be the same signatory for all of the Warrant Certificates, and no Warrant Certificate shall be valid for
any purpose unless so countersigned. In case any Authorized Officer of the Company that signed any of the Warrant Certificates
ceases to be an Authorized Officer of the Company before countersignature by the Warrant Agent and issuance and delivery by the
Company, such Warrant Certificates, nevertheless, may be countersigned by the Warrant Agent, issued and delivered with the same
force and effect as though the person who signed such Warrant Certificates had not ceased to be such officer of the Company; and
any Warrant Certificate may be signed on behalf of the Company by any person who, at the actual date of the execution of such
Warrant Certificate, shall be an Authorized Officer of the Company authorized to sign such Warrant Certificate, although at the
date of the execution of this Warrant Agreement any such person was not such an Authorized Officer.

 

    	 

    	 

    

 

2.2.6.
Registration of Transfer. At any time at or prior to the Expiration Date (as defined below), a transfer of any Warrants
may be registered and any Warrant Certificate or Warrant Certificates may be split up, combined or exchanged for another Warrant
Certificate or Warrant Certificates evidencing the same number of Warrants as the Warrant Certificate or Warrant Certificates
surrendered. Any Holder desiring to register the transfer of Warrants or to split up, combine or exchange any Warrant Certificate
shall make such request in writing delivered to the Warrant Agent, and shall surrender to the Warrant Agent the Warrant Certificate
or Warrant Certificates evidencing the Warrants the transfer of which is to be registered or that is or are to be split up, combined
or exchanged and, in the case of registration of transfer, shall provide a signature guarantee. Thereupon, the Warrant Agent shall
countersign and deliver to the person entitled thereto a Warrant Certificate or Warrant Certificates, as the case may be, as so
requested. The Company and the Warrant Agent may require payment, by the Holder requesting a registration of transfer of Warrants
or a split-up, combination or exchange of a Warrant Certificate (but, for purposes of clarity, not upon the exercise of the Warrants
and issuance of Warrant Shares to the Holder), of a sum sufficient to cover any tax or governmental charge that may be imposed
in connection with such registration of transfer, split-up, combination or exchange, together with reimbursement to the Company
and the Warrant Agent of all reasonable expenses incidental thereto.

 

2.2.7.
Loss, Theft and Mutilation of Warrant Certificates. Upon receipt by the Company and the Warrant Agent of evidence reasonably
satisfactory to them of the loss, theft, destruction or mutilation of a Warrant Certificate, and, in case of loss, theft or destruction,
of indemnity or security in customary form and amount, and reimbursement to the Company and the Warrant Agent of all reasonable
expenses incidental thereto, and upon surrender to the Warrant Agent and cancellation of the Warrant Certificate if mutilated,
the Warrant Agent shall, on behalf of the Company, countersign and deliver a new Warrant Certificate of like tenor to the Holder
in lieu of the Warrant Certificate so lost, stolen, destroyed or mutilated. The Warrant Agent may charge the Holder an administrative
fee for processing the replacement of lost Warrant Certificates. The Warrant Agent may receive compensation from the surety companies
or surety agents for administrative services provided to them.

 

2.2.8.
Proxies. The Holder of a Warrant may grant proxies or otherwise authorize any person, including the Participants and beneficial
holders that may own interests through the Participants, to take any action that a Holder is entitled to take under this Agreement
or the Warrants; provided, however, that at all times that Warrants are evidenced by a Global Warrant, exercise
of those Warrants shall be effected on their behalf by Participants through DTC in accordance the procedures administered by DTC.

 

3.
Terms and Exercise of Warrants.

 

3.1.
Exercise Price. Each Warrant shall entitle the Holder, subject to the provisions of the applicable Warrant Certificate
and of this Warrant Agreement, to purchase from the Company the number of shares of Common Stock stated therein, at the price
of $4.50 per whole share, subject to the subsequent adjustments provided in the Global Warrant. The term “Exercise
Price” as used in this Warrant Agreement refers to the price per share at which shares of Common Stock may be purchased
at the time a Warrant is exercised.

 

    	 

    	 

    

 

3.2.
Duration of Warrants. A Warrant may be exercised only during the period (“Exercise Period”) commencing
on the date of issuance and ending on the Termination Date. For purposes of this Warrant Agreement, the “Termination
Date” shall have the meaning set forth in the Global Warrant. Each Warrant not exercised on or before the Termination
Date shall become void, and all rights thereunder and all rights in respect thereof under this Agreement shall cease at the close
of business on the Termination Date.

 

3.3.
Exercise of Warrants.

 

3.3.1.
Exercise. Subject to the provisions of the Global Warrant, a Holder (or a Participant or a designee of a Participant acting
on behalf of a Holder) may exercise Warrants by delivering to the Warrant Agent, not later than 5:00 P.M., Eastern Standard Time,
on any business day during the Exercise Period a notice of exercise of the Warrants to be exercised (i) in the form attached to
the Global Warrant or (ii) via an electronic warrant exercise through the DTC system (each, an “Election to Purchase”).
All other requirements for the exercise of a Warrant shall be as set forth in the Warrant.

 

3.3.2.
The Warrant Agent shall, by 5:00 p.m., New York City time, on the Trading Day following the Exercise Date of any Warrant, advise
the Company, the transfer agent and registrar for the Company’s Common Stock, in respect of (i) the number of Warrant Shares
indicated on the Notice of Exercise as issuable upon such exercise with respect to such exercised Warrants, (ii) the instructions
of the Holder or Participant, as the case may be, provided to the Warrant Agent with respect to the delivery of the Warrant Shares
and the number of Warrants that remain outstanding after such exercise and (iii) such other information as the Company or such
transfer agent and registrar shall reasonably request. The Company shall issue the Warrant Shares in compliance with the terms
of the Warrant.

 

3.3.3.
Valid Issuance. All Warrant Shares issued by the Company upon the proper exercise of a Warrant in conformity with this
Warrant Agreement shall be validly issued, fully paid and non-assessable.

 

3.3.4.
No Fractional Exercise. Notwithstanding any provision contained in this Warrant Agreement to the contrary, no fractional
shares or scrip representing fractional shares shall be issued upon the exercise of the Warrant. As to any fraction of a share
which the Holder would otherwise be entitled to purchase upon such exercise, the Company shall, at its election, either pay a
cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the Exercise Price or round
up to the next whole share.

 

3.3.5.
No Transfer Taxes. The Company shall not be required to pay any stamp or other tax or governmental charge required to be
paid in connection with any transfer involved in the issue of the Warrant Shares upon the exercise of Warrants; and in the event
that any such transfer is involved, the Company shall not be required to issue or deliver any Warrant Shares until such tax or
other charge shall have been paid or it has been established to the Company’s satisfaction that no such tax or other charge
is due.

 

    	 

    	 

    

 

3.3.6.
Date of Issuance. The Company will treat an exercising Holder as a beneficial owner of the Warrant Shares as of the Exercise
Date, and for purposes of Regulation SHO, a holder whose interest in this Warrant is a beneficial interest in certificate(s) representing
this Warrant held in book-entry form through DTC shall be deemed to have exercised its interest in this Warrant upon instructing
its broker that is a DTC participant to exercise its interest in this Warrant, except that, if the Exercise Date is a date when
the stock transfer books of the Company are closed, such person shall be deemed to have become the holder of such shares at the
open of business on the next succeeding date on which the stock transfer books are open.

 

4.
Adjustments. Upon every adjustment of the Exercise Price or the number of Warrant Shares issuable upon exercise of a Warrant,
the Company shall give written notice thereof to the Warrant Agent, which notice shall state the Exercise Price resulting from
such adjustment and the increase or decrease, if any, in the number of Warrant Shares purchasable at such price upon the exercise
of a Warrant, setting forth in reasonable detail the method of calculation and the facts upon which such calculation is based.
Upon the occurrence of any event specified in Section 3 of the Warrant, then, in any such event, the Company shall give written
notice to the Warrant Agent. Failure to give such notice, or any defect therein, shall not affect the legality or validity of
such event. The Warrant Agent shall be entitled to rely conclusively on, and shall be fully protected in relying on, any certificate,
notice or instructions provided by the Company with respect to any adjustment of the Exercise Price or the number of shares issuable
upon exercise of a Warrant, or any related matter, and the Warrant Agent shall not be liable for any action taken, suffered or
omitted to be taken by it in accordance with any such certificate, notice or instructions or pursuant to this Warrant Agreement.
The Warrant Agent shall not be deemed to have knowledge of any such adjustment unless and until it shall have received written
notice thereof from the Company.

 

5.
Restrictive Legends; Fractional Warrants. In the event that a Warrant Certificate surrendered for transfer bears a restrictive
legend, the Warrant Agent shall not register that transfer until the Warrant Agent has received an opinion of counsel for the
Company stating that such transfer may be made and indicating whether the Warrants must also bear a restrictive legend upon that
transfer. The Warrant Agent shall not be required to effect any registration of transfer or exchange which will result in the
transfer of or delivery of a Warrant Certificate for a fraction of a Warrant.

 

6.
Other Provisions Relating to Rights of Holders of Warrants.

 

6.1.
No Rights as Stockholder. Except as otherwise specifically provided herein, a Holder, solely in its capacity as a holder
of Warrants, shall not be entitled to vote or receive dividends or be deemed the holder of share capital of the Company for any
purpose, nor shall anything contained in this Warrant Agreement be construed to confer upon a Holder, solely in its capacity as
the registered holder of Warrants, any of the rights of a stockholder of the Company or any right to vote, give or withhold consent
to any corporate action (whether any reorganization, issue of stock, reclassification of share capital, consolidation, merger,
conveyance or otherwise), receive notice of meetings, receive dividends or subscription rights or rights to participate in new
issues of shares, or otherwise, prior to the issuance to the Holder of the Warrant Shares which it is then entitled to receive
upon the due exercise of Warrants.

 

    	 

    	 

    

 

6.2.
Reservation of Common Stock. The Company shall at all times reserve and keep available a number of its authorized but unissued
shares of Common Stock that will be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to this
Warrant Agreement.

 

7.
Concerning the Warrant Agent and Other Matters.

 

7.1.
Any instructions given to the Warrant Agent orally, as permitted by any provision of this Warrant Agreement, shall be confirmed
in writing by the Company as soon as practicable. The Warrant Agent shall not be liable or responsible and shall be fully authorized
and protected for acting, or failing to act, in accordance with any oral instructions which do not conform with the written confirmation
received in accordance with this Section 7.1.

 

7.2.
(a) Whether or not any Warrants are exercised, for the Warrant Agent’s services as agent for the Company hereunder, the
Company shall pay to the Warrant Agent such fees as may be separately agreed between the Company and Warrant Agent and the Warrant
Agent’s out of pocket expenses in connection with this Warrant Agreement, including, without limitation, the fees and expenses
of the Warrant Agent’s counsel. While the Warrant Agent endeavors to maintain out-of-pocket charges (both internal and external)
at competitive rates, these charges may not reflect actual out-of-pocket costs, and may include handling charges to cover internal
processing and use of the Warrant Agent’s billing systems. (b) All amounts owed by the Company to the Warrant Agent under
this Warrant Agreement are due within 30 days of the invoice date. Delinquent payments are subject to a late payment charge of
one and one-half percent (1.5%) per month commencing 45 days from the invoice date. The Company agrees to reimburse the Warrant
Agent for any attorney’s fees and any other costs associated with collecting delinquent payments. (c) No provision of this
Warrant Agreement shall require Warrant Agent to expend or risk its own funds or otherwise incur any financial liability in the
performance of any of its duties under this Warrant Agreement or in the exercise of its rights.

 

    	 

    	 

    

 

7.3.
As agent for the Company hereunder the Warrant Agent: (a) shall have no duties or obligations other than those specifically set
forth herein or as may subsequently be agreed to in writing by the Warrant Agent and the Company; (b) shall be regarded as making
no representations and having no responsibilities as to the validity, sufficiency, value, or genuineness of the Warrants or any
Warrant Shares; (c) shall not be obligated to take any legal action hereunder; if, however, the Warrant Agent determines to take
any legal action hereunder, and where the taking of such action might, in its judgment, subject or expose it to any expense or
liability it shall not be required to act unless it has been furnished with an indemnity reasonably satisfactory to it; (d) may
rely on and shall be fully authorized and protected in acting or failing to act upon any certificate, instrument, opinion, notice,
letter, telegram, telex, facsimile transmission or other document or security delivered to the Warrant Agent and believed by it
to be genuine and to have been signed by the proper party or parties; (e) shall not be liable or responsible for any recital or
statement contained in the Registration Statement or any other documents relating thereto; (f) shall not be liable or responsible
for any failure on the part of the Company to comply with any of its covenants and obligations relating to the Warrants, including
without limitation obligations under applicable securities laws; (g) may rely on and shall be fully authorized and protected in
acting or failing to act upon the written, telephonic or oral instructions with respect to any matter relating to its duties as
Warrant Agent covered by this Warrant Agreement (or supplementing or qualifying any such actions) of officers of the Company,
and is hereby authorized and directed to accept instructions with respect to the performance of its duties hereunder from the
Company or counsel to the Company, and may apply to the Company, for advice or instructions in connection with the Warrant Agent’s
duties hereunder, and the Warrant Agent shall not be liable for any delay in acting while waiting for those instructions; any
applications by the Warrant Agent for written instructions from the Company may, at the option of the Agent, set forth in writing
any action proposed to be taken or omitted by the Warrant Agent under this Warrant Agreement and the date on or after which such
action shall be taken or such omission shall be effective; the Warrant Agent shall not be liable for any action taken by, or omission
of, the Warrant Agent in accordance with a proposal included in such application on or after the date specified in such application
(which date shall not be less than five business days after the date such application is sent to the Company, unless the Company
shall have consented in writing to any earlier date) unless prior to taking any such action, the Warrant Agent shall have received
written instructions in response to such application specifying the action to be taken or omitted; (h) may consult with counsel
satisfactory to the Warrant Agent, including its in-house counsel, and the advice of such counsel shall be full and complete authorization
and protection in respect of any action taken, suffered, or omitted by it hereunder in good faith and in accordance with the advice
of such counsel; (i) may perform any of its duties hereunder either directly or by or through nominees, correspondents, designees,
or subagents, and it shall not be liable or responsible for any misconduct or negligence on the part of any nominee, correspondent,
designee, or subagent appointed with reasonable care by it in connection with this Warrant Agreement; (j) is not authorized, and
shall have no obligation, to pay any brokers, dealers, or soliciting fees to any person; and (k) shall not be required hereunder
to comply with the laws or regulations of any country other than the United States of America or any political subdivision thereof.

 

7.4.
(a) In the absence of gross negligence or willful or illegal misconduct on its part, the Warrant Agent shall not be liable for
any action taken, suffered, or omitted by it or for any error of judgment made by it in the performance of its duties under this
Warrant Agreement. Anything in this Warrant Agreement to the contrary notwithstanding, in no event shall Warrant Agent be liable
for special, indirect, incidental, consequential or punitive losses or damages of any kind whatsoever (including but not limited
to lost profits), even if the Warrant Agent has been advised of the possibility of such losses or damages and regardless of the
form of action. Any liability of the Warrant Agent will be limited in the aggregate to the amount of fees paid by the Company
hereunder. The Warrant Agent shall not be liable for any failures, delays or losses, arising directly or indirectly out of conditions
beyond its reasonable control including, but not limited to, acts of government, exchange or market ruling, suspension of trading,
work stoppages or labor disputes, fires, civil disobedience, riots, rebellions, storms, electrical or mechanical failure, computer
hardware or software failure, communications facilities failures including telephone failure, war, terrorism, insurrection, earthquakes,
floods, acts of God or similar occurrences. (b) In the event any question or dispute arises with respect to the proper interpretation
of the Warrants or the Warrant Agent’s duties under this Warrant Agreement or the rights of the Company or of any Holder,
the Warrant Agent shall not be required to act and shall not be held liable or responsible for its refusal to act until the question
or dispute has been judicially settled (and, if appropriate, it may file a suit in interpleader or for a declaratory judgment
for such purpose) by final judgment rendered by a court of competent jurisdiction, binding on all persons interested in the matter
which is no longer subject to review or appeal, or settled by a written document in form and substance satisfactory to Warrant
Agent and executed by the Company and each such Holder. In addition, the Warrant Agent may require for such purpose, but shall
not be obligated to require, the execution of such written settlement by all the Holders and all other persons that may have an
interest in the settlement.

 

    	 

    	 

    

 

7.5.
The Company covenants to indemnify the Warrant Agent and hold it harmless from and against any loss, liability, claim or expense
(“Loss”) arising out of or in connection with the Warrant Agent’s duties under this Warrant Agreement,
including the costs and expenses of defending itself against any Loss, unless such Loss shall have been determined by a court
of competent jurisdiction to be a result of the Warrant Agent’s gross negligence or willful misconduct.

 

7.6.
Unless terminated earlier by the parties hereto, this Agreement shall terminate 90 days after the earlier of the Expiration Date
and the date on which no Warrants remain outstanding (the “Termination Date”). On the business day following
the Termination Date, the Agent shall deliver to the Company any entitlements, if any, held by the Warrant Agent under this Warrant
Agreement. The Agent’s right to be reimbursed for fees, charges and out-of-pocket expenses as provided in this Section 8
shall survive the termination of this Warrant Agreement.

 

7.7.
If any provision of this Warrant Agreement shall be held illegal, invalid, or unenforceable by any court, this Warrant Agreement
shall be construed and enforced as if such provision had not been contained herein and shall be deemed an Agreement among the
parties to it to the full extent permitted by applicable law.

 

7.8.
The Company represents and warrants that: (a) it is duly incorporated and validly existing under the laws of its jurisdiction
of incorporation; (b) the offer and sale of the Warrants and the execution, delivery and performance of all transactions contemplated
thereby (including this Warrant Agreement) have been duly authorized by all necessary corporate action and will not result in
a breach of or constitute a default under the articles of association, bylaws or any similar document of the Company or any indenture,
agreement or instrument to which it is a party or is bound; (c) this Warrant Agreement has been duly executed and delivered by
the Company and constitutes the legal, valid, binding and enforceable obligation of the Company; (d) the Warrants will comply
in all material respects with all applicable requirements of law; and (e) to the best of its knowledge, there is no litigation
pending or threatened as of the date hereof in connection with the offering of the Warrants.

 

7.9.
In the event of inconsistency between this Warrant Agreement and the descriptions in the Warrant, as it may from time to time
be amended, the terms of this Warrant shall control.

 

7.10.
Set forth in Exhibit C hereto is a list of the names and specimen signatures of the persons authorized to act for the Company
under this Warrant Agreement (the “Authorized Representatives”). The Company shall, from time to time, certify
to you the names and signatures of any other persons authorized to act for the Company under this Warrant Agreement.

 

    	 

    	 

    

 

7.11.
Except as expressly set forth elsewhere in this Warrant Agreement, all notices, instructions and communications under this Agreement
shall be in writing, shall be effective upon receipt and shall be addressed, if to the Company, to its address set forth beneath
its signature to this Agreement, or, if to the Warrant Agent, to VStock Transfer, LLC 18 Lafayette Place, Woodmere, New York 11598,
or to such other address of which a party hereto has notified the other party.

 

7.12.
(a) This Warrant Agreement shall be governed by and construed in accordance with the laws of the State of New York. All actions
and proceedings relating to or arising from, directly or indirectly, this Warrant Agreement may be litigated in courts located
within the Borough of Manhattan in the City and State of New York. The Company hereby submits to the personal jurisdiction of
such courts and consents that any service of process may be made by certified or registered mail, return receipt requested, directed
to the Company at its address last specified for notices hereunder. Each of the parties hereto hereby waives the right to a trial
by jury in any action or proceeding arising out of or relating to this Warrant Agreement. (b) This Warrant Agreement shall inure
to the benefit of and be binding upon the successors and assigns of the parties hereto. This Warrant Agreement may not be assigned,
or otherwise transferred, in whole or in part, by either party without the prior written consent of the other party, which the
other party will not unreasonably withhold, condition or delay; except that (i) consent is not required for an assignment or delegation
of duties by Warrant Agent to any affiliate of Warrant Agent and (ii) any reorganization, merger, consolidation, sale of assets
or other form of business combination by Warrant Agent or the Company shall not be deemed to constitute an assignment of this
Warrant Agreement. (c) No provision of this Warrant Agreement may be amended, modified or waived, except in a written document
signed by both parties. The Company and the Warrant Agent may amend or supplement this Warrant Agreement without the consent of
any Holder for the purpose of curing any ambiguity, or curing, correcting or supplementing any defective provision contained herein
or adding or changing any other provisions with respect to matters or questions arising under this Agreement as the parties may
deem necessary or desirable and that the parties determine, in good faith, shall not adversely affect the interest of the Holders.
All other amendments and supplements shall require the vote or written consent of Holders of at least 50.1% of the then outstanding
Warrants, provided that adjustments may be made to the Warrant terms and rights in accordance with Section 4 without the consent
of the Holders.

 

7.13.
Payment of Taxes. The Company will from time to time promptly pay all taxes and charges that may be imposed upon the Company
or the Warrant Agent in respect of the issuance or delivery of Warrant Shares upon the exercise of Warrants, but the Company may
require the Holders to pay any transfer taxes in respect of the Warrants or such shares. The Warrant Agent may refrain from registering
any transfer of Warrants or any delivery of any Warrant Shares unless or until the persons requesting the registration or issuance
shall have paid to the Warrant Agent for the account of the Company the amount of such tax or charge, if any, or shall have established
to the reasonable satisfaction of the Company and the Warrant Agent that such tax or charge, if any, has been paid.

 

    	 

    	 

    

 

7.14.
Resignation of Warrant Agent.

 

7.14.1.
Appointment of Successor Warrant Agent. The Warrant Agent, or any successor to it hereafter appointed, may resign its duties
and be discharged from all further duties and liabilities hereunder after giving thirty (30) days’ notice in writing to
the Company, or such shorter period of time agreed to by the Company. The Company may terminate the services of the Warrant Agent,
or any successor Warrant Agent, after giving thirty (30) days’ notice in writing to the Warrant Agent or successor Warrant
Agent, or such shorter period of time as agreed. If the office of the Warrant Agent becomes vacant by resignation, termination
or incapacity to act or otherwise, the Company shall appoint in writing a successor Warrant Agent in place of the Warrant Agent.
If the Company shall fail to make such appointment within a period of 30 days after it has been notified in writing of such resignation
or incapacity by the Warrant Agent, then the Warrant Agent or any Holder may apply to any court of competent jurisdiction for
the appointment of a successor Warrant Agent at the Company’s cost. Pending appointment of a successor to such Warrant Agent,
either by the Company or by such a court, the duties of the Warrant Agent shall be carried out by the Company. Any successor Warrant
Agent (but not including the initial Warrant Agent), whether appointed by the Company or by such court, shall be a person organized
and existing under the laws of any state of the United States of America, in good standing, and authorized under such laws to
exercise corporate trust powers and subject to supervision or examination by federal or state authority. After appointment, any
successor Warrant Agent shall be vested with all the authority, powers, rights, immunities, duties, and obligations of its predecessor
Warrant Agent with like effect as if originally named as Warrant Agent hereunder, without any further act or deed, and except
for executing and delivering documents as provided in the sentence that follows, the predecessor Warrant Agent shall have no further
duties, obligations, responsibilities or liabilities hereunder, but shall be entitled to all rights that survive the termination
of this Warrant Agreement and the resignation or removal of the Warrant Agent, including but not limited to its right to indemnity
hereunder. If for any reason it becomes necessary or appropriate or at the request of the Company, the predecessor Warrant Agent
shall execute and deliver, at the expense of the Company, an instrument transferring to such successor Warrant Agent all the authority,
powers, and rights of such predecessor Warrant Agent hereunder; and upon request of any successor Warrant Agent the Company shall
make, execute, acknowledge, and deliver any and all instruments in writing for more fully and effectually vesting in and confirming
to such successor Warrant Agent all such authority, powers, rights, immunities, duties, and obligations.

 

7.14.2.
Notice of Successor Warrant Agent. In the event a successor Warrant Agent shall be appointed, the Company shall give notice
thereof to the predecessor Warrant Agent and the transfer agent for the Common Stock not later than the effective date of any
such appointment.

 

7.14.3.
Merger or Consolidation of Warrant Agent. Any person into which the Warrant Agent may be merged or converted or with which
it may be consolidated or any person resulting from any merger, conversion or consolidation to which the Warrant Agent shall be
a party or any person succeeding to the shareowner services business of the Warrant Agent or any successor Warrant Agent shall
be the successor Warrant Agent under this Warrant Agreement, without any further act or deed. For purposes of this Warrant Agreement,
“person” shall mean any individual, firm, corporation, partnership, limited liability company, joint venture, association,
trust or other entity, and shall include any successor (by merger or otherwise) thereof or thereto.

 

    	 

    	 

    

 

8.
Miscellaneous Provisions.

 

8.1.
Persons Having Rights under this Warrant Agreement. Nothing in this Warrant Agreement expressed and nothing that may be
implied from any of the provisions hereof is intended, or shall be construed, to confer upon, or give to, any person or corporation
other than the parties hereto any right, remedy, or claim under or by reason of this Warrant Agreement or of any covenant, condition,
stipulation, promise, or agreement hereof.

 

8.2.
Examination of the Warrant Agreement. A copy of this Warrant Agreement shall be available at all reasonable times at the
office of the Warrant Agent designated for such purpose for inspection by any Holder. Prior to such inspection, the Warrant Agent
may require any such holder to provide reasonable evidence of its interest in the Warrants.

 

8.3.
Counterparts. This Warrant Agreement may be executed in any number of original, facsimile or electronic 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.

 

8.4.
Effect of Headings. The Section headings herein are for convenience only and are not part of this Warrant Agreement and
shall not affect the interpretation thereof.

 

9.
Certain Definitions. As used herein, the following terms shall have the following meanings:

 

(a)
“Trading Day” means any day on which the Common Stock is traded on the Trading Market, or, if the Trading Market
is not the principal trading market for the Common Stock, then on the principal securities exchange or securities market in the
United States on which the Common Stock is then traded, provided that “Trading Day” shall not include any day on which
the Common Stock is are scheduled to trade on such exchange or market for less than 4.5 hours or any day that the Common Stock
is suspended from trading during the final hour of trading on such exchange or market (or if such exchange or market does not
designate in advance the closing time of trading on such exchange or market, then during the hour ending at 4:00 P.M., Eastern
Standard Time).

 

(b)
“Trading Market” means NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global
Select Market or the New York Stock Exchange.

 

[Signature
Page Follows]

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, this Warrant Agent Agreement has been duly executed by the parties hereto as of the day and year first above
written.

 

	 	NUZEE,
    INC.
	 	 	 
	 	By:	                              
	 	Name: 	 
	 	Title:	 
	 	 	 
	 	VSTOCK
    TRANSFER, LLC
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

    	 

    	 

    

 

EXHIBIT
A

 

[GLOBAL
WARRANT]

 

    	 

    	 

    

 

EXHIBIT
A

 

COMMON
STOCK PURCHASE WARRANT

 

 

 

	Warrant
    Shares: _______	Initial
    Exercise Date: March 23, 2021
	 	Issue
    Date: Mach 23, 2021

 

CUSIP:

 

ISIN:

 

THIS
COMMON STOCK PURCHASE WARRANT (the “Warrant”) certifies that, for value received, _____________ or its assigns
(the “Holder”) is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter
set forth, at any time on or after the date hereof (the “Initial Exercise Date”) and on or prior to 5:00 p.m.
(New York City time) on March 23, 2026 (the “Termination Date”) but not thereafter, to subscribe for and purchase
from NuZee, Inc., a Nevada corporation (the “Company”), up to ______ shares (as subject to adjustment hereunder,
the “Warrant Shares”) of Common Stock. The purchase price of one share of Common Stock under this Warrant shall
be equal to the Exercise Price, as defined in Section 2(b). This Warrant shall initially be issued and maintained in the form
of a security held in book-entry form and the Depository Trust Company or its nominee (“DTC”) shall initially
be the sole registered holder of this Warrant, subject to a Holder’s right to elect to receive a Warrant in certificated
form pursuant to the terms of the Warrant Agency Agreement, in which case this sentence shall not apply.

 

Section
1. Definitions. In addition to the terms defined elsewhere in this Warrant, the following terms have the meanings indicated
in this Section 1:

 

“Affiliate”
means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common
control with a Person, as such terms are used in and construed under Rule 405 under the Securities Act.

 

“Bid
Price” means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common
Stock is then listed or quoted on a Trading Market, the bid price of the Common Stock for the time in question (or the nearest
preceding date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based
on a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if OTCQB or OTCQX is not a Trading
Market, the volume weighted average price of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX
as applicable, (c) if the Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common
Stock are then reported on the Pink Open Market (or a similar organization or agency succeeding to its functions of reporting
prices), the most recent bid price per share of the Common Stock so reported, or (d) in all other cases, the fair market value
of a share of Common Stock as determined by an independent appraiser selected in good faith by the Holders of a majority in interest
of the Warrants then outstanding and reasonably acceptable to the Company, the fees and expenses of which shall be paid by the
Company.

 

    	1

     

    

 

“Board
of Directors” means the board of directors of the Company.

 

“Business
Day” means any day other than Saturday, Sunday or other day on which commercial banks in The City of New York are authorized
or required by law to remain closed; provided, however, for clarification, commercial banks shall not be deemed
to be authorized or required by law to remain closed due to “stay at home”, “shelter-in-place”, “non-essential
employee” or any other similar orders or restrictions or the closure of any physical branch locations at the direction of
any governmental authority so long as the electronic funds transfer systems (including for wire transfers) of commercial banks
in The City of New York generally are open for use by customers on such day.

 

“Commission”
means the United States Securities and Exchange Commission.

 

“Common
Stock” means the common stock of the Company, par value $0.00001 per share, and any other class of securities into which
such securities may hereafter be reclassified or changed.

 

“Common
Stock Equivalents” means any securities of the Company or the Subsidiaries which would entitle the holder thereof to
acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument
that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive,
Common Stock.

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

“Person”
means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

“Registration
Statement” means the Company’s registration statement on Form S-3 (File No. 248531).

 

“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

“Subsidiary”
means any subsidiary of the Company and shall, where applicable, also include any direct or indirect subsidiary of the Company
formed or acquired after the date hereof.

 

“Trading
Day” means a day on which the Common Stock is traded on a Trading Market.

 

    	2

     

    

 

“Trading
Market” means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on
the date in question: the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market,
the New York Stock Exchange, OTCQB or OTCQX (or any successors to any of the foregoing).

 

“Transfer
Agent” means VStock Transfer Agency LLC, the current transfer agent of the Company, with a mailing address of 18 Lafayette
PL., Woodmere, NY 11598 and a facsimile number of 646-536-3179, and any successor transfer agent of the Company.

 

“Underwriting
Agreement” means the underwriting agreement, dated as of March 19, 2021 among the Company and Aegis Capital Corp. as
representative of the underwriters named therein, as amended, modified or supplemented from time to time in accordance with its
terms.

 

“VWAP”
means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then
listed or quoted on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest
preceding date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based
on a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if OTCQB or OTCQX is not a Trading
Market, the volume weighted average price of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX
as applicable, (c) if the Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common
Stock are then reported on the Pink Open Market (or a similar organization or agency succeeding to its functions of reporting
prices), the most recent bid price per share of the Common Stock so reported, or (d) in all other cases, the fair market value
of a share of Common Stock as determined by an independent appraiser selected in good faith by the holders of a majority in interest
of the Warrants then outstanding and reasonably acceptable to the Company, the fees and expenses of which shall be paid by the
Company.

 

“Warrant
Agency Agreement” means that certain warrant agency agreement, dated on or about the Initial Exercise Date, between
the Company and the Warrant Agent.

 

“Warrant
Agent” means the Transfer Agent and any successor warrant agent of the Company.

 

“Warrants”
means this Warrant and other Common Stock purchase warrants issued by the Company pursuant to the Registration Statement.

 

Section
2. Exercise.

 

a)
Exercise of Warrant. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any
time or times on or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company of a duly
executed facsimile copy or PDF copy submitted by e-mail (or e-mail attachment) of the Notice of Exercise in the form annexed hereto
(the “Notice of Exercise”). Within the earlier of (i) two (2) Trading Days and (ii) the number of Trading Days
comprising the Standard Settlement Period (as defined in Section 2(d)(i) herein) following the date of exercise as aforesaid,
the Holder shall deliver the aggregate Exercise Price for the shares specified in the applicable Notice of Exercise by wire transfer
or cashier’s check drawn on a United States bank unless the cashless exercise procedure specified in Section 2(c) below
is specified in the applicable Notice of Exercise. No ink-original Notice of Exercise shall be required, nor shall any medallion
guarantee (or other type of guarantee or notarization) of any Notice of Exercise be required. Notwithstanding anything herein
to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company until the Holder has purchased
all of the Warrant Shares available hereunder and the Warrant has been exercised in full, in which case, the Holder shall surrender
this Warrant to the Company for cancellation within three (3) Trading Days of the date on which the final Notice of Exercise is
delivered to the Company. Partial exercises of this Warrant resulting in purchases of a portion of the total number of Warrant
Shares available hereunder shall have the effect of lowering the outstanding number of Warrant Shares purchasable hereunder in
an amount equal to the applicable number of Warrant Shares purchased. The Holder and the Company shall maintain records showing
the number of Warrant Shares purchased and the date of such purchases. The Company shall deliver any objection to any Notice of
Exercise within one (1) Business Day of receipt of such notice. The Holder and any assignee, by acceptance of this Warrant,
acknowledge and agree that, by reason of the provisions of this paragraph, following the purchase of a portion of the Warrant
Shares hereunder, the number of Warrant Shares available for purchase hereunder at any given time may be less than the amount
stated on the face hereof.

 

    	3

     

    

 

Notwithstanding
the foregoing in this Section 2(a), a holder whose interest in this Warrant is a beneficial interest in certificate(s) representing
this Warrant held in book-entry form through DTC (or another established clearing corporation performing similar functions), shall
effect exercises made pursuant to this Section 2(a) by delivering to DTC (or such other clearing corporation, as applicable) the
appropriate instruction form for exercise, complying with the procedures to effect exercise that are required by DTC (or such
other clearing corporation, as applicable), subject to a Holder’s right to elect to receive a Warrant in certificated form
pursuant to the terms of the Warrant Agency Agreement, in which case this sentence shall not apply.

 

b)
Exercise Price. The exercise price per share of Common Stock under this Warrant shall be $4.50, subject to adjustment hereunder
(the “Exercise Price”).

 

c)
Cashless Exercise. If at the time of exercise hereof there is no effective registration statement registering, or the prospectus
contained therein is not available for the issuance of the Warrant Shares to the Holder, then this Warrant may also be exercised,
in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive
a number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

 

	 	(A) =	 as applicable: (i) the VWAP on the Trading Day immediately
preceding the date of the applicable Notice of Exercise if such Notice of Exercise is (1) both executed and delivered pursuant to Section
2(a) hereof on a day that is not a Trading Day or (2) both executed and delivered pursuant to Section 2(a) hereof on a Trading Day prior
to the opening of “regular trading hours” (as defined in Rule 600(b)(68) of Regulation NMS promulgated under the federal
securities laws) on such Trading Day, (ii) at the option of the Holder, either (y) the VWAP on the Trading Day immediately preceding
the date of the applicable Notice of Exercise or (z) the Bid Price of the Common Stock on the principal Trading Market as reported by
Bloomberg L.P. as of the time of the Holder’s execution of the applicable Notice of Exercise if such Notice of Exercise is executed
during “regular trading hours” on a Trading Day and is delivered within two (2) hours thereafter (including until two (2)
hours after the close of “regular trading hours” on a Trading Day) pursuant to Section 2(a) hereof or (iii) the VWAP on the
date of the applicable Notice of Exercise if the date of such Notice of Exercise is a Trading Day and such Notice of Exercise is both
executed and delivered pursuant to Section 2(a) hereof after the close of “regular trading hours” on such Trading Day;

 

    	4

     

    

 

	 	(B) =	 the Exercise Price of this Warrant, as adjusted hereunder;
and

 

	 	(X) =	 the number of Warrant Shares that would be issuable upon
exercise of this Warrant in accordance with the terms of this Warrant if such exercise were by means of a cash exercise rather than a
cashless exercise.

 

If
Warrant Shares are issued in such a cashless exercise, the parties acknowledge and agree that in accordance with Section 3(a)(9)
of the Securities Act, the Warrant Shares shall take on the registered characteristics of the Warrants being exercised. The Company
agrees not to take any position contrary to this Section 2(c).

 

Notwithstanding
anything herein to the contrary, on the Termination Date, this Warrant shall be automatically exercised via cashless exercise
pursuant to this Section 2(c).

 

d)
Mechanics of Exercise.

 

i.
Delivery of Warrant Shares Upon Exercise. The Company shall cause the Warrant Shares purchased hereunder to be transmitted
by the Transfer Agent to the Holder by crediting the account of the Holder’s or its designee’s balance account with
The Depository Trust Company through its Deposit or Withdrawal at Custodian system (“DWAC”) if the Company
is then a participant in such system and either (A) there is an effective registration statement permitting the issuance of the
Warrant Shares to or resale of the Warrant Shares by Holder or (B) this Warrant is being exercised via cashless exercise, and
otherwise by physical delivery of a certificate, registered in the Company’s share register in the name of the Holder or
its designee, for the number of Warrant Shares to which the Holder is entitled pursuant to such exercise to the address specified
by the Holder in the Notice of Exercise by the date that is the earliest of (i) two (2) Trading Days after the delivery to the
Company of the Notice of Exercise, (ii) one (1) Trading Day after delivery of the aggregate Exercise Price to the Company and
(iii) the number of Trading Days comprising the Standard Settlement Period after the delivery to the Company of the Notice of
Exercise (such date, the “Warrant Share Delivery Date”). Upon delivery of the Notice of Exercise, the Holder
shall be deemed for all corporate purposes to have become the holder of record of the Warrant Shares with respect to which this
Warrant has been exercised, irrespective of the date of delivery of the Warrant Shares, provided that payment of the aggregate
Exercise Price (other than in the case of a cashless exercise) is received within the earlier of (i) two (2) Trading Days and
(ii) the number of Trading Days comprising the Standard Settlement Period following delivery of the Notice of Exercise. If the
Company fails for any reason to deliver to the Holder the Warrant Shares subject to a Notice of Exercise by the Warrant Share
Delivery Date, the Company shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of Warrant
Shares subject to such exercise (based on the VWAP of the Common Stock on the date of the applicable Notice of Exercise), $10
per Trading Day (increasing to $20 per Trading Day on the fifth Trading Day after such liquidated damages begin to accrue) for
each Trading Day after such Warrant Share Delivery Date until such Warrant Shares are delivered or Holder rescinds such exercise.
The Company agrees to maintain a transfer agent that is a participant in the FAST program so long as this Warrant remains outstanding
and exercisable. As used herein, “Standard Settlement Period” means the standard settlement period, expressed
in a number of Trading Days, on the Company’s primary Trading Market with respect to the Common Stock as in effect on the
date of delivery of the Notice of Exercise.

 

    	5

     

    

 

ii.
Delivery of New Warrants Upon Exercise. If this Warrant shall have been exercised in part, the Company shall, at the request
of a Holder and upon surrender of this Warrant certificate, at the time of delivery of the Warrant Shares, deliver to the Holder
a new Warrant evidencing the rights of the Holder to purchase the unpurchased Warrant Shares called for by this Warrant, which
new Warrant shall in all other respects be identical with this Warrant.

 

iii.
Rescission Rights. If the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares pursuant
to Section 2(d)(i) by the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise.

 

iv.
Compensation for Buy-In on Failure to Timely Deliver Warrant Shares Upon Exercise. In addition to any other rights available
to the Holder, if the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares in accordance with
the provisions of Section 2(d)(i) above pursuant to an exercise on or before the Warrant Share Delivery Date, and if after such
date the Holder is required by its broker to purchase (in an open market transaction or otherwise) or the Holder’s brokerage
firm otherwise purchases, shares of Common Stock to deliver in satisfaction of a sale by the Holder of the Warrant Shares which
the Holder anticipated receiving upon such exercise (a “Buy-In”), then the Company shall (A) pay in cash to
the Holder the amount, if any, by which (x) the Holder’s total purchase price (including brokerage commissions, if any)
for the shares of Common Stock so purchased exceeds (y) the amount obtained by multiplying (1) the number of Warrant Shares that
the Company was required to deliver to the Holder in connection with the exercise at issue times (2) the price at which the sell
order giving rise to such purchase obligation was executed, and (B) at the option of the Holder, either reinstate the portion
of the Warrant and equivalent number of Warrant Shares for which such exercise was not honored (in which case such exercise shall
be deemed rescinded) or deliver to the Holder the number of shares of Common Stock that would have been issued had the Company
timely complied with its exercise and delivery obligations hereunder. For example, if the Holder purchases Common Stock having
a total purchase price of $11,000 to cover a Buy-In with respect to an attempted exercise of shares of Common Stock with an aggregate
sale price giving rise to such purchase obligation of $10,000, under clause (A) of the immediately preceding sentence the Company
shall be required to pay the Holder $1,000. The Holder shall provide the Company written notice indicating the amounts payable
to the Holder in respect of the Buy-In and, upon request of the Company, evidence of the amount of such loss. Nothing herein shall
limit a Holder’s right to pursue any other remedies available to it hereunder, at law or in equity including, without limitation,
a decree of specific performance and/or injunctive relief with respect to the Company’s failure to timely deliver shares
of Common Stock upon exercise of the Warrant as required pursuant to the terms hereof.

 

    	6

    	 

    

 

v.
No Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise
of this Warrant. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise, the
Company shall, at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction
multiplied by the Exercise Price or round up to the next whole share.

 

vi.
Charges, Taxes and Expenses. Issuance of Warrant Shares shall be made without charge to the Holder for any issue or transfer
tax or other incidental expense in respect of the issuance of such Warrant Shares, all of which taxes and expenses shall be paid
by the Company, and such Warrant Shares shall be issued in the name of the Holder or in such name or names as may be directed
by the Holder; provided, however, that, in the event that Warrant Shares are to be issued in a name other than the
name of the Holder, this Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly
executed by the Holder and the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it for
any transfer tax incidental thereto. The Company shall pay all Transfer Agent fees required for same-day processing of any Notice
of Exercise and all fees to the Depository Trust Company (or another established clearing corporation performing similar functions)
required for same-day electronic delivery of the Warrant Shares.

 

    	7

     

    

 

vii.
Closing of Books. The Company will not close its stockholder books or records in any manner which prevents the timely exercise
of this Warrant, pursuant to the terms hereof.

 

e)
Holder’s Exercise Limitations. The Company shall not effect any exercise of this Warrant, and a Holder shall not
have the right to exercise any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that after giving effect
to such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s
Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons,
“Attribution Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined
below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its
Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise of this Warrant with
respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be issuable
upon (i) exercise of the remaining, nonexercised portion of this Warrant beneficially owned by the Holder or any of its Affiliates
or Attribution Parties and (ii) exercise or conversion of the unexercised or nonconverted portion of any other securities of the
Company (including, without limitation, any other Common Stock Equivalents) subject to a limitation on conversion or exercise
analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties.
Except as set forth in the preceding sentence, for purposes of this Section 2(e), beneficial ownership shall be calculated in
accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder, it being acknowledged
by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of
the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent
that the limitation contained in this Section 2(e) applies, the determination of whether this Warrant is exercisable (in relation
to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of this Warrant
is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be
the Holder’s determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder together
with any Affiliates and Attribution Parties) and of which portion of this Warrant is exercisable, in each case subject to the
Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination.
In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d)
of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 2(e), in determining the
number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected
in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be, (B) a more recent
public announcement by the Company or (C) a more recent written notice by the Company or the Transfer Agent setting forth the
number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company shall within one Trading
Day confirm orally and in writing to the Holder the number of shares of Common Stock then outstanding. In any case, the number
of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the
Company, including this Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number
of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or,
upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding
immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise of this Warrant. The Holder,
upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 2(e), provided
that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately
after giving effect to the issuance of shares of Common Stock upon exercise of this Warrant held by the Holder and the provisions
of this Section 2(e) shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until
the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and
implemented in a manner otherwise than in strict conformity with the terms of this Section 2(e) to correct this paragraph (or
any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained
or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained
in this paragraph shall apply to a successor holder of this Warrant.

 

    	8

     

    

 

Section
3. Certain Adjustments.

 

a)
Stock Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a stock dividend or
otherwise makes a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities
payable in shares of Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company
upon exercise of this Warrant), (ii) subdivides outstanding shares of Common Stock into a larger number of shares, (iii) combines
(including by way of reverse stock split) outstanding shares of Common Stock into a smaller number of shares, or (iv) issues by
reclassification of shares of the Common Stock any shares of capital stock of the Company, then in each case the Exercise Price
shall be multiplied by a fraction of which the numerator shall be the number of shares of Common Stock (excluding treasury shares,
if any) outstanding immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding
immediately after such event, and the number of shares issuable upon exercise of this Warrant shall be proportionately adjusted
such that the aggregate Exercise Price of this Warrant shall remain unchanged. Any adjustment made pursuant to this Section 3(a)
shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend
or distribution and shall become effective immediately after the effective date in the case of a subdivision, combination or re-classification.

 

b)
Reserved.

 

c)
Subsequent Rights Offerings. In addition to any adjustments pursuant to Section 3(a) above, if at any time the Company
grants, issues or sells any Common Stock Equivalents or rights to purchase stock, warrants, securities or other property pro rata
to the record holders of any class of shares of Common Stock (the “Purchase Rights”), then the Holder will
be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could
have acquired if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without
regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before
the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the
date as of which the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase
Rights (provided, however, that, to the extent that the Holder’s right to participate in any such Purchase Right would result
in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Purchase
Right to such extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right to such extent)
and such Purchase Right to such extent shall be held in abeyance for the Holder until such time, if ever, as its right thereto
would not result in the Holder exceeding the Beneficial Ownership Limitation).

 

d)
Pro Rata Distributions. During such time as this Warrant is outstanding, if the Company shall declare or make any dividend
or other distribution of its assets (or rights to acquire its assets) to holders of shares of Common Stock, by way of return of
capital or otherwise (including, without limitation, any distribution of cash, stock or other securities, property or options
by way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction)
(a “Distribution”), at any time after the issuance of this Warrant, then, in each such case, the Holder shall
be entitled to participate in such Distribution to the same extent that the Holder would have participated therein if the Holder
had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to any limitations
on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date of which a
record is taken for such Distribution, or, if no such record is taken, the date as of which the record holders of shares of Common
Stock are to be determined for the participation in such Distribution (provided, however, that, to the extent that
the Holder’s right to participate in any such Distribution would result in the Holder exceeding the Beneficial Ownership
Limitation, then the Holder shall not be entitled to participate in such Distribution to such extent (or in the beneficial ownership
of any shares of Common Stock as a result of such Distribution to such extent) and the portion of such Distribution shall be held
in abeyance for the benefit of the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding
the Beneficial Ownership Limitation).

 

    	9

     

    

 

e)
Fundamental Transaction. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in
one or more related transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company
or any Subsidiary, directly or indirectly, effects any sale, lease, license, assignment, transfer, conveyance or other disposition
of all or substantially all of its assets in one or a series of related transactions, (iii) any, direct or indirect, purchase
offer, tender offer or exchange offer (whether by the Company or another Person) is completed pursuant to which holders of Common
Stock are permitted to sell, tender or exchange their shares for other securities, cash or property and has been accepted by the
holders of 50% or more of the outstanding Common Stock, (iv) the Company, directly or indirectly, in one or more related transactions
effects any reclassification, reorganization or recapitalization of the Common Stock or any compulsory share exchange pursuant
to which the Common Stock is effectively converted into or exchanged for other securities, cash or property, or (v) the Company,
directly or indirectly, in one or more related transactions consummates a stock or share purchase agreement or other business
combination (including, without limitation, a reorganization, recapitalization, spin-off, merger or scheme of arrangement) with
another Person or group of Persons whereby such other Person or group acquires more than 50% of the outstanding shares of Common
Stock (not including any shares of Common Stock held by the other Person or other Persons making or party to, or associated or
affiliated with the other Persons making or party to, such stock or share purchase agreement or other business combination) (each
a “Fundamental Transaction”), then, upon any subsequent exercise of this Warrant, the Holder shall have the
right to receive, for each Warrant Share that would have been issuable upon such exercise immediately prior to the occurrence
of such Fundamental Transaction, at the option of the Holder (without regard to any limitation in Section 2(e) on the exercise
of this Warrant), the number of shares of Common Stock of the successor or acquiring corporation or of the Company, if it is the
surviving corporation, and any additional consideration (the “Alternate Consideration”) receivable as a result
of such Fundamental Transaction by a holder of the number of shares of Common Stock for which this Warrant is exercisable immediately
prior to such Fundamental Transaction (without regard to any limitation in Section 2(e) on the exercise of this Warrant). For
purposes of any such exercise, the determination of the Exercise Price shall be appropriately adjusted to apply to such Alternate
Consideration based on the amount of Alternate Consideration issuable in respect of one share of Common Stock in such Fundamental
Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration in a reasonable manner reflecting
the relative value of any different components of the Alternate Consideration. If holders of Common Stock are given any choice
as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder shall be given the same choice
as to the Alternate Consideration it receives upon any exercise of this Warrant following such Fundamental Transaction. The Company
shall cause any successor entity in a Fundamental Transaction in which the Company is not the survivor (the “Successor
Entity”) to assume in writing all of the obligations of the Company under this Warrant in accordance with the provisions
of this Section 3(e) pursuant to written agreements in form and substance reasonably satisfactory to the Holder and approved by
the Holder (without unreasonable delay) prior to such Fundamental Transaction and shall, at the option of the Holder, deliver
to the Holder in exchange for this Warrant a security of the Successor Entity evidenced by a written instrument substantially
similar in form and substance to this Warrant which is exercisable for a corresponding number of shares of capital stock of such
Successor Entity (or its parent entity) equivalent to the shares of Common Stock acquirable and receivable upon exercise of this
Warrant (without regard to any limitations on the exercise of this Warrant) prior to such Fundamental Transaction, and with an
exercise price which applies the exercise price hereunder to such shares of capital stock (but taking into account the relative
value of the shares of Common Stock pursuant to such Fundamental Transaction and the value of such shares of capital stock, such
number of shares of capital stock and such exercise price being for the purpose of protecting the economic value of this Warrant
immediately prior to the consummation of such Fundamental Transaction), and which is reasonably satisfactory in form and substance
to the Holder. Upon the occurrence of any such Fundamental Transaction, the Successor Entity shall succeed to, and be substituted
for (so that from and after the date of such Fundamental Transaction, the provisions of this Warrant referring to the “Company”
shall refer instead to the Successor Entity), and may exercise every right and power of the Company and shall assume all of the
obligations of the Company under this Warrant with the same effect as if such Successor Entity had been named as the Company herein.

 

    	10

     

    

 

f)
Calculations. All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share,
as the case may be. For purposes of this Section 3, the number of shares of Common Stock deemed to be issued and outstanding as
of a given date shall be the sum of the number of shares of Common Stock (excluding treasury shares, if any) issued and outstanding.

 

g)
Notice to Holder.

 

i.
Adjustment to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the
Company shall promptly deliver to the Holder by facsimile or email a notice setting forth the Exercise Price after such adjustment
and any resulting adjustment to the number of Warrant Shares and setting forth a brief statement of the facts requiring such adjustment.

 

ii.
Notice to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever
form) on the Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common
Stock, (C) the Company shall authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or
purchase any shares of capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall
be required in connection with any reclassification of the Common Stock, any consolidation or merger to which the Company (or
any of its Subsidiaries) is a party, any sale or transfer of all or substantially all of its assets, or any compulsory share exchange
whereby the Common Stock is converted into other securities, cash or property, or (E) the Company shall authorize the voluntary
or involuntary dissolution, liquidation or winding up of the affairs of the Company, then, in each case, the Company shall cause
to be delivered by facsimile or email to the Holder at its last facsimile number or email address as it shall appear upon the
Warrant Register of the Company, at least 20 calendar days prior to the applicable record or effective date hereinafter specified,
a notice stating (x) the date on which a record is to be taken for the purpose of such dividend, distribution, redemption, rights
or warrants, or if a record is not to be taken, the date as of which the holders of the Common Stock of record to be entitled
to such dividend, distributions, redemption, rights or warrants are to be determined or (y) the date on which such reclassification,
consolidation, merger, sale, transfer or share exchange is expected to become effective or close, and the date as of which it
is expected that holders of the Common Stock of record shall be entitled to exchange their shares of the Common Stock for securities,
cash or other property deliverable upon such reclassification, consolidation, merger, sale, transfer or share exchange; provided
that the failure to deliver such notice or any defect therein or in the delivery thereof shall not affect the validity of the
corporate action required to be specified in such notice. To the extent that any notice provided in this Warrant constitutes,
or contains, material, non-public information regarding the Company or any of the Subsidiaries, the Company shall simultaneously
file such notice with the Commission pursuant to a Current Report on Form 8-K. The Holder shall remain entitled to exercise this
Warrant during the period commencing on the date of such notice to the effective date of the event triggering such notice except
as may otherwise be expressly set forth herein.

 

    	11

    	 

    

 

h)
Voluntary Adjustment By Company. Subject to the rules and regulations of the Trading Market, the Company may at any time
during the term of this Warrant, subject to the prior written consent of the Holder, reduce the then current Exercise Price to
any amount and for any period of time deemed appropriate by the board of directors of the Company.

 

Section
4. Transfer of Warrant.

 

a)
Transferability. This Warrant and all rights hereunder (including, without limitation, any registration rights) are transferable,
in whole or in part, upon surrender of this Warrant at the principal office of the Company or its designated agent, together with
a written assignment of this Warrant substantially in the form attached hereto duly executed by the Holder or its agent or attorney
and funds sufficient to pay any transfer taxes payable upon the making of such transfer. Upon such surrender and, if required,
such payment, the Company shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees, as applicable,
and in the denomination or denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant
evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly be cancelled. Notwithstanding anything
herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company unless the Holder
has assigned this Warrant in full, in which case, the Holder shall surrender this Warrant to the Company within three (3) Trading
Days of the date on which the Holder delivers an assignment form to the Company assigning this Warrant in full. The Warrant, if
properly assigned in accordance herewith, may be exercised by a new holder for the purchase of Warrant Shares without having a
new Warrant issued.

 

b)
New Warrants. If this Warrant is not held in global form through DTC (or any successor depositary), this Warrant may be
divided or combined with other Warrants upon presentation hereof at the aforesaid office of the Company, together with a written
notice specifying the names and denominations in which new Warrants are to be issued, signed by the Holder or its agent or attorney.
Subject to compliance with Section 4(a), as to any transfer which may be involved in such division or combination, the Company
shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined in accordance
with such notice. All Warrants issued on transfers or exchanges shall be dated the initial issuance date of this Warrant and shall
be identical with this Warrant except as to the number of Warrant Shares issuable pursuant thereto.

 

c)
Warrant Register. The Warrant Agent shall register this Warrant, upon records to be maintained by the Warrant Agent for
that purpose (the “Warrant Register”), in the name of the record Holder hereof from time to time. The Company
and the Warrant Agent may deem and treat the registered Holder of this Warrant as the absolute owner hereof for the purpose of
any exercise hereof or any distribution to the Holder, and for all other purposes, absent actual notice to the contrary.

 

Section
5. Miscellaneous.

 

a)
No Rights as Stockholder Until Exercise; No Settlement in Cash. This Warrant does not entitle the Holder to any voting
rights, dividends or other rights as a stockholder of the Company prior to the exercise hereof as set forth in Section 2(d)(i),
except as expressly set forth in Section 3. Without limiting any rights of a Holder to receive Warrant Shares on a “cashless
exercise” pursuant to Section 2(c) or to receive cash payments pursuant to Section 2(d)(i) and Section 2(d)(iv) herein,
in no event shall the Company be required to net cash settle an exercise of this Warrant.

 

b)
Loss, Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably
satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant
Shares, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case
of the Warrant, may require the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate,
if mutilated, the Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation,
in lieu of such Warrant or stock certificate.

 

    	12

     

    

 

c)
Saturdays, Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right
required or granted herein shall not be a Business Day, then such action may be taken or such right may be exercised on the next
succeeding Business Day.

 

d)
Authorized Shares.

 

The
Company covenants that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued Common
Stock a sufficient number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights
under this Warrant. The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers
who are charged with the duty of issuing the necessary Warrant Shares upon the exercise of the purchase rights under this Warrant.
The Company will take all such reasonable action as may be necessary to assure that such Warrant Shares may be issued as provided
herein without violation of any applicable law or regulation, or of any requirements of the Trading Market upon which the Common
Stock may be listed. The Company covenants that all Warrant Shares which may be issued upon the exercise of the purchase rights
represented by this Warrant will, upon exercise of the purchase rights represented by this Warrant and payment for such Warrant
Shares in accordance herewith, be duly authorized, validly issued, fully paid and nonassessable and free from all taxes, liens
and charges created by the Company in respect of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously
with such issue).

 

Except
and to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation,
amending its certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution,
issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the
terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all
such actions as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against impairment.
Without limiting the generality of the foregoing, the Company will (i) not increase the par value of any Warrant Shares above
the amount payable therefor upon such exercise immediately prior to such increase in par value, (ii) take all such action as may
be necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares
upon the exercise of this Warrant and (iii) use commercially reasonable efforts to obtain all such authorizations, exemptions
or consents from any public regulatory body having jurisdiction thereof, as may be, necessary to enable the Company to perform
its obligations under this Warrant.

 

Before
taking any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or
in the Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be
necessary from any public regulatory body or bodies having jurisdiction thereof.

 

    	13

     

    

 

e)
Governing Law. All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall
be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the
principles of conflicts of law thereof. Each party agrees that all legal proceedings concerning the interpretations, enforcement
and defense of the transactions contemplated by this Warrant (whether brought against a party hereto or their respective affiliates,
directors, officers, shareholders, partners, members, employees or agents) shall be commenced exclusively in the state and federal
courts sitting in the City of New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal
courts sitting in the City of New York, Borough of Manhattan for the adjudication of any dispute hereunder or in connection herewith
or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any
suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit,
action or proceeding is improper or is an inconvenient venue for such proceeding. Each party hereby irrevocably waives personal
service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof via registered
or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under
this Warrant and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing
contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by law. If either
party shall commence an action, suit or proceeding to enforce any provisions of this Warrant, the prevailing party in such action,
suit or proceeding shall be reimbursed by the other party for their reasonable attorneys’ fees and other costs and expenses
incurred with the investigation, preparation and prosecution of such action or proceeding.

 

f)
Restrictions. The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered,
and the Holder does not utilize cashless exercise, will have restrictions upon resale imposed by state and federal securities
laws.

 

g)
Nonwaiver and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder
shall operate as a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies. Without limiting
any other provision of this Warrant, if the Company willfully and knowingly fails to comply with any provision of this Warrant,
which results in any material damages to the Holder, the Company shall pay to the Holder such amounts as shall be sufficient to
cover any costs and expenses including, but not limited to, reasonable attorneys’ fees, including those of appellate proceedings,
incurred by the Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies
hereunder.

 

    	14

    	 

    

 

h)
Notices. Any and all notices or other communications or deliveries to be provided by the Holders hereunder including, without
limitation, any Notice of Exercise, shall be in writing and delivered personally, by facsimile or e-mail, or sent by a nationally
recognized overnight courier service, addressed to the Company, at 1401 Capital Avenue, Suite B, Plano, TX, 75074, Attention:
Chief Financial Officer, facsimile number: _________, email address: shanoop@nuzeeusa.com, or such other
facsimile number, email address or address as the Company may specify for such purposes by notice to the Holders. Any and all
notices or other communications or deliveries to be provided by the Company hereunder shall be in writing and delivered personally,
by facsimile or e-mail, or sent by a nationally recognized overnight courier service addressed to each Holder at the facsimile
number, e-mail address or address of such Holder appearing on the books of the Company. Any notice or other communication or deliveries
hereunder shall be deemed given and effective on the earliest of (i) the time of transmission, if such notice or communication
is delivered via facsimile at the facsimile number or via e-mail at the e-mail address set forth in this Section prior to 5:30
p.m. (New York City time) on any date, (ii) the next Trading Day after the time of transmission, if such notice or communication
is delivered via facsimile at the facsimile number or via e-mail at the e-mail address set forth in this Section on a day that
is not a Trading Day or later than 5:30 p.m. (New York City time) on any Trading Day, (iii) the second Trading Day following the
date of mailing, if sent by U.S. nationally recognized overnight courier service, or (iv) upon actual receipt by the party to
whom such notice is required to be given. To the extent that any notice provided hereunder constitutes, or contains, material,
non-public information regarding the Company or any Subsidiaries, the Company shall simultaneously file such notice with the Commission
pursuant to a Current Report on Form 8-K.

 

i)
Limitation of Liability. No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant
to purchase Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability
of the Holder for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted
by the Company or by creditors of the Company.

 

j)
Remedies. The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages,
will be entitled to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not
be adequate compensation for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees
to waive and not to assert the defense in any action for specific performance that a remedy at law would be adequate.

 

k)
Successors and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby
shall inure to the benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted
assigns of Holder. The provisions of this Warrant are intended to be for the benefit of any Holder from time to time of this Warrant
and shall be enforceable by the Holder or holder of Warrant Shares.

 

l)
Amendment. This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company,
on the one hand, and the Holder, on the other hand.

 

    	15

    	 

    

 

m)
Severability. Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective
and valid under applicable law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such
provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions
or the remaining provisions of this Warrant.

 

n)
Headings. The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be
deemed a part of this Warrant.

 

o)
Warrant Agency Agreement. If this Warrant is held in global form through DTC (or any successor depositary), this Warrant
is issued subject to the Warrant Agency Agreement. To the extent any provision of this Warrant conflicts with the express provisions
of the Warrant Agency Agreement, the provisions of this Warrant shall govern and be controlling.

 

********************

 

(Signature
Page Follows)

 

    	16

     

    

 

IN
WITNESS WHEREOF, the Company has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first
above indicated.

 

	 	NUZEE, INC.
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

    	17

     

    

 

NOTICE
OF EXERCISE

 

To:
nuzee, inc.

 

(1)
The undersigned hereby elects to purchase ________ Warrant Shares of the Company pursuant to the terms of the attached Warrant
(only if exercised in full), and tenders herewith payment of the exercise price in full, together with all applicable transfer
taxes, if any.

 

(2)
Payment shall take the form of (check applicable box):

 

[  ]
in lawful money of the United States; or

 

[  ]
[if permitted the cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set forth in subsection
2(c), to exercise this Warrant with respect to the maximum number of Warrant Shares purchasable pursuant to the cashless exercise
procedure set forth in subsection 2(c).

 

(3)
Please issue said Warrant Shares in the name of the undersigned or in such other name as is specified below:

 

_______________________________

 

The
Warrant Shares shall be delivered to the following DWAC Account Number:

 

_______________________________

 

_______________________________

 

_______________________________

 

[SIGNATURE
OF HOLDER]

 

Name
of Investing Entity: ________________________________________________________________________

 

Signature
of Authorized Signatory of Investing Entity: _________________________________________________

 

Name
of Authorized Signatory: ___________________________________________________________________

 

Title
of Authorized Signatory: ____________________________________________________________________

 

Date:
________________________________________________________________________________________

 

    	18

     

    

 

ASSIGNMENT
FORM

 

(To
assign the foregoing Warrant, execute this form and supply required information. Do not use this form to purchase shares.)

 

FOR
VALUE RECEIVED, the foregoing Warrant and all rights evidenced thereby are hereby assigned to:

 

	Name:	 	______________________________________
	 	 	(Please
    Print)
	 	 	 
	Address:	 	______________________________________
	 	 	(Please
    Print)
	 	 	 
	Phone
    Number:	 	______________________________________
	 	 	 
	Email
    Address:	 	______________________________________
	 	 	 
	Dated:
    _______________ __, ______	 	 
	 	 	 
	Holder’s
    Signature:_______	 	 
	 	 	 
	Holder’s
    Address: _______	 	 
	 	 	 
	(Signature
    Guaranteed):	 	Date:
    ___________________, _____

 

Signature
to be guaranteed by an authorized officer of a chartered bank, trust company or medallion guaranteed by an investment dealer who
is a member of a recognized stock exchange.

 

    	19

     

    

 

EXHIBIT
B

 

WARRANT
CERTIFICATE REQUEST NOTICE

 

To:
___________ as Warrant Agent for __________ (the “Company”)

 

The
undersigned Holder of Common Stock Purchase Warrants (“Warrants”) in the form of Global Warrants issued by the Company
hereby elects to receive a Warrant Certificate evidencing the Warrants held by the Holder as specified below:

 

	 	1.	Name
    of Holder of Warrants in form of Global Warrants: _____________________________
	 	 	 
	 	2.	Name
    of Holder in Warrant Certificate (if different from name of Holder of Warrants in form of Global Warrants): ________________________________
	 	 	 
	 	3.	Number
    of Warrants in name of Holder in form of Global Warrants: ___________________
	 	 	 
	 	4.	Number
    of Warrants for which Warrant Certificate shall be issued: __________________
	 	 	 
	 	5.	Number
    of Warrants in name of Holder in form of Global Warrants after issuance of Warrant Certificate, if any: ___________
	 	 	 
	 	6.	Warrant
    Certificate shall be delivered to the following address:

 

______________________________

 

______________________________

 

______________________________

 

______________________________

 

The
undersigned hereby acknowledges and agrees that, in connection with this Warrant Exchange and the issuance of the Warrant Certificate,
the Holder is deemed to have surrendered the number of Warrants in form of Global Warrants in the name of the Holder equal to
the number of Warrants evidenced by the Warrant Certificate.

 

[SIGNATURE
OF HOLDER]

 

Name
of Investing Entity: ____________________________________________________

 

Signature
of Authorized Signatory of Investing Entity: ______________________________

 

Name
of Authorized Signatory: ________________________________________________

 

Title
of Authorized Signatory: _________________________________________________

 

Date:
_______________________________________________________________

 

    	 

    	 

    

 

EXHIBIT
C

 

[AUTHORIZED
REPRESENTATIVES]

 

	Name	 	Title	 	Signature
	 	 	 	 	 
	Masateru
    Higashida	 	Chief
    Executive Officer	 	 
	 	 	 	 	 
	Shanoop
    Kothari	 	Chief
    Financial Officer

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