Document:

Exhibit
10.3

 

REGISTRATION
RIGHTS AGREEMENT

 

This
REGISTRATION RIGHTS AGREEMENT (this “Agreement”), dated as of August 8, 2022, is entered into by and between
BIOPOWER OPERATIONS CORPORATION, a Nevada corporation (the “Company”), and PEAK ONE OPPORTUNITY FUND, L.P.,
a Delaware limited partnership (together with it permitted assigns, the “Investor”). Capitalized terms used herein
and not otherwise defined herein shall have the respective meanings set forth in the equity purchase agreement by and between the parties
hereto, dated as of the date hereof (as amended, restated, supplemented or otherwise modified from time to time, the “Purchase
Agreement”).

 

WHEREAS:

 

The
Company has agreed, upon the terms and subject to the conditions of the Purchase Agreement, to sell to the Investor up to Fifteen Million
Dollars ($15,000,000.00) of Put Shares (as defined in the Purchase Agreement) and to induce the Investor to enter into the Purchase Agreement,
the Company has agreed to provide certain registration rights under the Securities Act of 1933, as amended, and the rules and regulations
thereunder, or any similar successor statute (collectively, the “Securities Act”), and applicable state securities
laws.

 

NOW,
THEREFORE, in consideration of the promises and the mutual covenants contained herein and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Company and the Investor hereby agree as follows:

 

1.
DEFINITIONS.

 

As
used in this Agreement, the following terms shall have the following meanings:

 

a.
“Investor” shall have the meaning set forth above.

 

b.
“Person” means any individual or entity including but not limited to any corporation, a limited liability company,
an association, a partnership, an organization, a business, an individual, a governmental or political subdivision thereof or a governmental
agency.

 

c.
“Register,” “registered,” and “registration” refer to a registration effected
by preparing and filing one or more registration statements of the Company in compliance with the Securities Act and/or pursuant to Rule
415 under the Securities Act or any successor rule providing for offering securities on a continuous basis (“Rule 415”),
and the declaration or ordering of effectiveness of such registration statement(s) by the United States Securities and Exchange Commission
(the “SEC”).

 

d.
“Registrable Securities” means all of the Put Shares which have been, or which may, from time to time be issued, including
without limitation all of the shares of Common Stock which have been issued or will be issued to the Investor under the Purchase Agreement
(without regard to any beneficial ownership limitation therein), the Warrant Shares (as defined in the Purchase Agreement) (the “Warrant
Shares”) which have been issued or will be issued to Investments (as defined in the Purchase Agreement) (“Investments”)
under the Warrant (as defined in the Purchase Agreement) (the “Warrant”) without regard to any beneficial ownership
limitation therein, and shares of Common Stock issued to the Investor and Investments as a result of any stock split, stock dividend,
recapitalization, exchange or similar event or otherwise.

 

e.
“Registration Statement” means one or more registration statements of the Company covering only the sale of the Registrable
Securities.

 

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2.
REGISTRATION.

 

a.
Mandatory Registration. The Company shall, within sixty (60) calendar days from the date of this Agreement, file with the SEC
an initial Registration Statement covering the maximum number of Registrable Securities (beginning with the Warrant Shares with respect
to Investments) as shall be permitted to be included thereon in accordance with applicable SEC rules, regulations and interpretations
so as to permit the resale of such Registrable Securities by the Investor, including but not limited to under Rule 415 under the Securities
Act at then prevailing market prices (and not fixed prices), subject to the aggregate number of authorized shares of the Company’s
Common Stock then available for issuance in its Certificate of Incorporation. The initial Registration Statement shall register only
the Registrable Securities. The Investor and its counsel shall have a reasonable opportunity to review and comment upon such Registration
Statement and any amendment or supplement to such Registration Statement and any related prospectus prior to its filing with the SEC,
and the Company shall give due consideration to all reasonable comments. The Investor shall furnish all information reasonably requested
by the Company for inclusion therein. The Company shall use its reasonable best efforts to have the Registration Statement declared effective
by the SEC within one hundred eighty (180) calendar days from the date hereof (or at the earliest possible date if prior to one hundred
eighty (180) calendar days from the date hereof), and any amendment declared effective by the SEC at the earliest possible date. The
Company shall use reasonable best efforts to keep the Registration Statement effective, including but not limited to pursuant to Rule
415 promulgated under the Securities Act and available for the resale by the Investor of all of the Registrable Securities covered thereby
at all times until the earlier of (i) the date as of which the Investor may sell all of the Registrable Securities without restriction
pursuant to Rule 144 promulgated under the Securities and (ii) the date on which the Investor shall have sold all the Registrable Securities
covered thereby and the Maximum Commitment Amount (as defined in the Purchase Agreement) under the Purchase Agreement has been drawn
down by the Company pursuant to a Registration Statement (the “Registration Period”). The Registration Statement (including
any amendments or supplements thereto and prospectuses contained therein) shall not contain any untrue statement of a material fact or
omit to state a material fact required to be stated therein, or necessary to make the statements therein, in light of the circumstances
in which they were made, not misleading. In the event that the Registration Statement becomes stale, the Company shall immediately file
one or more post-effective amendments to obtain an effective Registration Statement.

 

b.
Rule 424 Prospectus. The Company shall, as required by applicable securities regulations, from time to time file (in each case,
at the earliest possible date) with the SEC, pursuant to Rule 424 promulgated under the Securities Act, the prospectus and prospectus
supplements, if any, to be used in connection with sales of the Registrable Securities under the Registration Statement. The Company
shall file such initial prospectus covering the Investor’s sale of the Registrable Securities on the same date that the Registration
Statement is declared effective by the SEC. The Investor and its counsel shall have a reasonable opportunity to review and comment upon
such prospectus prior to its filing with the SEC, and the Company shall give due consideration to all such comments. The Investor shall
use its reasonable best efforts to comment upon such prospectus within one (1) Business Day from the date the Investor receives the final
pre-filing version of such prospectus.

 

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c.
Sufficient Number of Shares Registered. In the event the number of shares available under the Registration Statement is insufficient
to cover all of the Registrable Securities, the Company shall amend the Registration Statement or file a new Registration Statement (a
“New Registration Statement”), so as to cover all of such Registrable Securities (subject to the limitations set forth
in Section 2(a)) as soon as practicable, but in any event not later than ten (10) Business Days after the necessity therefor arises,
subject to any limits that may be imposed by the SEC pursuant to Rule 415 under the Securities Act. The Company shall use it reasonable
best efforts to cause such amendment and/or New Registration Statement to become effective as soon as practicable following the filing
thereof. In the event that any of the Put Shares or Warrant Shares are not included in the Registration Statement, or have not been included
in any New Registration Statement and the Company files any other registration statement under the Securities Act (other than on Form
S-4, Form S-8, or with respect to other employee related plans or rights offerings) (“Other Registration Statement”)
then the Company shall include in such Other Registration Statement first all of such Warrant Shares that have not been previously registered,
second all of such Put Shares that not have been previously registered, and third any other securities the Company wishes to include
in such Other Registration Statement. The Company agrees that it shall not file any such Other Registration Statement unless all of the
Registrable Securities have been included in such Other Registration Statement or otherwise have been registered for resale as described
above.

 

d.
Offering. If the staff of the SEC (the “Staff”) or the SEC seeks to characterize any offering pursuant to a
Registration Statement filed pursuant to this Agreement as constituting an offering of securities that does not permit such Registration
Statement to become effective and be used for resales by the Investor under Rule 415 at then-prevailing market prices (and not fixed
prices), or if after the filing of the initial Registration Statement with the SEC pursuant to Section 2(a), the Company is otherwise
required by the Staff or the SEC to reduce the number of Registrable Securities included in such initial Registration Statement, then
the Company shall reduce the number of Registrable Securities to be included in such initial Registration Statement (with the prior consent,
which shall not be unreasonably withheld, of the Investor and its legal counsel as to the specific Registrable Securities to be removed
therefrom) until such time as the Staff and the SEC shall so permit such Registration Statement to become effective and be used as aforesaid.
In the event of any reduction in Registrable Securities pursuant to this paragraph, the Company shall file one or more New Registration
Statements in accordance with Section 2(c) until such time as all Registrable Securities have been included in Registration Statements
that have been declared effective and the prospectus contained therein is available for use by the Investor. Notwithstanding any provision
herein or in the Purchase Agreement to the contrary, the Company’s obligations to register Registrable Securities (and any related
conditions to the Investor’s obligations) shall be qualified as necessary to comport with any requirement of the SEC or the Staff
as addressed in this Section 2(d).

 

3.
RELATED OBLIGATIONS.

 

With
respect to the Registration Statement and whenever any Registrable Securities are to be registered pursuant to Section 2 including on
any New Registration Statement, the Company shall use its reasonable best efforts to effect the registration of the Registrable Securities
in accordance with the intended method of disposition thereof and, pursuant thereto, the Company shall have the following obligations:

 

a.
The Company shall prepare and file with the SEC such amendments (including post-effective amendments) and supplements to any registration
statement and the prospectus used in connection with such registration statement, which prospectus is to be filed pursuant to Rule 424
promulgated under the Securities Act, as may be necessary to keep the Registration Statement or any New Registration Statement effective
at all times during the Registration Period, and, during such period, comply with the provisions of the Securities Act with respect to
the disposition of all Registrable Securities of the Company covered by the Registration Statement or any New Registration Statement
until such time as all of such Registrable Securities shall have been disposed of in accordance with the intended methods of disposition
by the seller or sellers thereof as set forth in such registration statement.

 

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b.
The Company shall permit the Investor to review and comment upon the Registration Statement or any New Registration Statement and all
amendments and supplements thereto at least two (2) Business Days prior to their filing with the SEC, and not file any document in a
form to which Investor reasonably objects. The Investor shall use its reasonable best efforts to comment upon the Registration Statement
or any New Registration Statement and any amendments or supplements thereto within two (2) Business Days from the date the Investor receives
the final version thereof. The Company shall furnish to the Investor, without charge any correspondence from the SEC or the staff of
the SEC to the Company or its representatives relating to the Registration Statement or any New Registration Statement.

 

c.
Upon request of the Investor, the Company shall furnish to the Investor, (i) promptly after the same is prepared and filed with the SEC,
at least one copy of such registration statement and any amendment(s) thereto, including financial statements and schedules, all documents
incorporated therein by reference and all exhibits, (ii) upon the effectiveness of any registration statement, a copy of the prospectus
included in such registration statement and all amendments and supplements thereto (or such other number of copies as the Investor may
reasonably request) and (iii) such other documents, including copies of any preliminary or final prospectus, as the Investor may reasonably
request from time to time in order to facilitate the disposition of the Registrable Securities owned by the Investor. For the avoidance
of doubt, any filing available to the Investor via the SEC’s live EDGAR system shall be deemed “furnished to the Investor”
hereunder.

 

d.
The Company shall use reasonable best efforts to (i) register and qualify the Registrable Securities covered by a registration statement
under such other securities or “blue sky” laws of such jurisdictions in the United States as the Investor reasonably requests,
(ii) prepare and file in those jurisdictions, such amendments (including post-effective amendments) and supplements to such registrations
and qualifications as may be necessary to maintain the effectiveness thereof during the Registration Period, (iii) take such other actions
as may be necessary to maintain such registrations and qualifications in effect at all times during the Registration Period, and (iv)
take all other actions reasonably necessary or advisable to qualify the Registrable Securities for sale in such jurisdictions; provided,
however, that the Company shall not be required in connection therewith or as a condition thereto to (x) qualify to do business in any
jurisdiction where it would not otherwise be required to qualify but for this Section 3(d), (y) subject itself to general taxation in
any such jurisdiction, or (z) file a general consent to service of process in any such jurisdiction. The Company shall promptly notify
the Investor who holds Registrable Securities of the receipt by the Company of any notification with respect to the suspension of the
registration or qualification of any of the Registrable Securities for sale under the securities or “blue sky” laws of any
jurisdiction in the United States or its receipt of actual notice of the initiation or threatening of any proceeding for such purpose.

 

e.
As promptly as practicable after becoming aware of such event or facts, the Company shall notify the Investor in writing of the happening
of any event or existence of such facts as a result of which the prospectus included in any registration statement, as then in effect,
includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make
the statements therein, in light of the circumstances under which they were made, not misleading, and promptly prepare a supplement or
amendment to such registration statement to correct such untrue statement or omission, and deliver a copy of such supplement or amendment
to the Investor (or such other number of copies as the Investor may reasonably request). The Company shall also promptly notify the Investor
in writing (i) when a prospectus or any prospectus supplement or post-effective amendment has been filed, and when a registration statement
or any post-effective amendment has become effective (notification of such effectiveness shall be delivered to the Investor by email
or facsimile on the same day of such effectiveness and by overnight mail), (ii) of any request by the SEC for amendments or supplements
to any registration statement or related prospectus or related information, and (iii) of the Company’s reasonable determination
that a post-effective amendment to a registration statement would be appropriate.

 

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f.
The Company shall use its reasonable best efforts to prevent the issuance of any stop order or other suspension of effectiveness of any
registration statement, or the suspension of the qualification of any Registrable Securities for sale in any jurisdiction and, if such
an order or suspension is issued, to obtain the withdrawal of such order or suspension at the earliest possible moment and to notify
the Investor of the issuance of such order and the resolution thereof or its receipt of actual notice of the initiation or threat of
any proceeding for such purpose.

 

g.
The Company shall (i) cause all the Registrable Securities to be listed on each securities exchange on which securities of the same class
or series issued by the Company are then listed, if any, if the listing of such Registrable Securities is then permitted under the rules
of such exchange, or (ii) secure designation and quotation of all the Registrable Securities on the Principal Market (as defined in the
Purchase Agreement). The Company shall pay all fees and expenses in connection with satisfying its obligation under this Section.

 

h.
The Company shall cooperate with the Investor to facilitate the timely preparation and delivery of the Registrable Securities (not bearing
any restrictive legend) either by DWAC, DRS, or in certificated form if DWAC or DRS is unavailable, to be offered pursuant to any registration
statement and enable such Registrable Securities to be in such denominations or amounts as the Investor may reasonably request and registered
in such names as the Investor may request.

 

i.
The Company shall at all times provide a transfer agent and registrar with respect to its Common Stock.

 

j.
If reasonably requested by the Investor, the Company shall (i) immediately incorporate in a prospectus supplement or post-effective amendment
such information as the Investor believes should be included therein relating to the sale and distribution of Registrable Securities,
including, without limitation, information with respect to the number of Registrable Securities being sold, the purchase price being
paid therefor and any other terms of the offering of the Registrable Securities; (ii) make all required filings of such prospectus supplement
or post-effective amendment as soon as practicable upon notification of the matters to be incorporated in such prospectus supplement
or post-effective amendment; and (iii) supplement or make amendments to any registration statement.

 

k.
The Company shall use its reasonable best efforts to cause the Registrable Securities covered by any registration statement to be registered
with or approved by such other governmental agencies or authorities as may be necessary to consummate the disposition of such Registrable
Securities.

 

l.
Within one (1) Business Day after any registration statement which includes the Registrable Securities is ordered effective by the SEC,
the Company shall deliver, and shall cause legal counsel for the Company to deliver, to the transfer agent for such Registrable Securities
(with copies to the Investor) confirmation that such registration statement has been declared effective by the SEC in the form attached
hereto as Exhibit A. Thereafter, if requested by the Investor at any time, the Company shall require its counsel to deliver to
the Investor a written confirmation whether or not the effectiveness of such registration statement has lapsed at any time for any reason
(including, without limitation, the issuance of a stop order) and whether or not the registration statement is current and available
to the Investor for sale of all of the Registrable Securities.

 

m.
The Company shall take all other reasonable actions necessary to expedite and facilitate disposition by the Investor of Registrable Securities
pursuant to any registration statement.

 

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4.
OBLIGATIONS OF THE INVESTOR.

 

a.
The Company shall notify the Investor in writing of the information the Company reasonably requires from the Investor in connection with
any registration statement hereunder. The Investor shall furnish to the Company such information regarding itself, the Registrable Securities
held by it and the intended method of disposition of the Registrable Securities held by it as shall be reasonably required to effect
the registration of such Registrable Securities and shall execute such documents in connection with such registration as the Company
may reasonably request.

 

b.
The Investor agrees to cooperate with the Company as reasonably requested by the Company in connection with the preparation and filing
of any registration statement hereunder.

 

c.
The Investor agrees that, upon receipt of any notice from the Company of the happening of any event or existence of facts of the kind
described in Section 3(f) or the first sentence of 3(e), the Investor will immediately discontinue disposition of Registrable Securities
pursuant to any registration statement(s) covering such Registrable Securities until the Investor’s receipt of the copies of the
supplemented or amended prospectus contemplated by Section 3(f) or the first sentence of 3(e). Notwithstanding anything to the contrary,
the Company shall cause its transfer agent to promptly deliver shares of Common Stock without any restrictive legend in accordance with
the terms of the Purchase Agreement in connection with any sale of Registrable Securities with respect to which the Investor has entered
into a contract for sale prior to the Investor’s receipt of a notice from the Company of the happening of any event of the kind
described in Section 3(f) or the first sentence of Section 3(e) and for which the Investor has not yet settled.

 

5.
EXPENSES OF REGISTRATION.

 

All
reasonable expenses, other than sales or brokerage commissions, incurred in connection with registrations, filings or qualifications
pursuant to Sections 2 and 3, including, without limitation, all registration, listing and qualifications fees, printers and accounting
fees, and fees and disbursements of counsel for the Company, shall be paid by the Company.

 

6.
INDEMNIFICATION.

 

a.
To the fullest extent permitted by law, the Company will, and hereby does, indemnify, hold harmless and defend the Investor, each Person,
if any, who controls the Investor, the members, the directors, officers, partners, employees, agents, representatives of the Investor
and each Person, if any, who controls the Investor within the meaning of the Securities Act or the Securities Exchange Act of 1934, as
amended (the “Exchange Act”) (each, an “Indemnified Person”), against any losses, claims, damages,
liabilities, judgments, fines, penalties, charges, costs, attorneys’ fees, amounts paid in settlement or expenses, joint or several,
(collectively, “Claims”) incurred in investigating, preparing or defending any action, claim, suit, inquiry, proceeding,
investigation or appeal taken from the foregoing by or before any court or governmental, administrative or other regulatory agency, body
or the SEC, whether pending or threatened, whether or not an indemnified party is or may be a party thereto (“Indemnified Damages”),
to which any of them may become subject insofar as such Claims (or actions or proceedings, whether commenced or threatened, in respect
thereof) arise out of or are based upon: (i) any untrue statement or alleged untrue statement of a material fact in the Registration
Statement, any New Registration Statement or any post-effective amendment thereto or in any filing made in connection with the qualification
of the offering under the securities or other “blue sky” laws of any jurisdiction in which Registrable Securities are offered
(“Blue Sky Filing”), or the omission or alleged omission to state a material fact required to be stated therein or
necessary to make the statements therein not misleading, (ii) any untrue statement or alleged untrue statement of a material fact contained
in the final prospectus (as amended or supplemented, if the Company files any amendment thereof or supplement thereto with the SEC) or
the omission or alleged omission to state therein any material fact necessary to make the statements made therein, in light of the circumstances
under which the statements therein were made, not misleading, (iii) any violation or alleged violation by the Company of the Securities
Act, the Exchange Act, any other law, including, without limitation, any state securities law, or any rule or regulation thereunder relating
to the offer or sale of the Registrable Securities pursuant to the Registration Statement or any New Registration Statement or (iv) any
material violation by the Company of this Agreement (the matters in the foregoing clauses (i) through (iv) being, collectively, “Violations”).
The Company shall reimburse each Indemnified Person promptly as such expenses are incurred and are due and payable, for any reasonable
legal fees or other reasonable expenses incurred by them in connection with investigating or defending any such Claim. Notwithstanding
anything to the contrary contained herein, the indemnification agreement contained in this Section 6(a): (i) shall not apply to a Claim
by an Indemnified Person arising out of or based upon a Violation which occurs in reliance upon and in conformity with information about
the Investor furnished in writing to the Company by such Indemnified Person expressly for use in connection with the preparation of the
Registration Statement, any New Registration Statement or any such amendment thereof or supplement thereto, if such prospectus was timely
made available by the Company pursuant to Section 3(c) or Section 3(e); (ii) with respect to any superseded prospectus, shall not inure
to the benefit of any such person from whom the person asserting any such Claim purchased the Registrable Securities that are the subject
thereof (or to the benefit of any person controlling such person) if the untrue statement or omission of material fact contained in the
superseded prospectus was corrected in the revised prospectus, as then amended or supplemented, if such revised prospectus was timely
made available by the Company pursuant to Section 3(c) or Section 3(e), and the Indemnified Person was promptly advised in writing not
to use the incorrect prospectus prior to the use giving rise to a violation and such Indemnified Person, notwithstanding such advice,
used it; (iii) shall not be available to the extent such Claim is based on a failure of the Investor to deliver or to cause to be delivered
the prospectus made available by the Company, if such prospectus was timely made available by the Company pursuant to Section 3(c) or
Section 3(e); and (iv) shall not apply to amounts paid in settlement of any Claim if such settlement is effected without the prior written
consent of the Company, which consent shall not be unreasonably withheld. Such indemnity shall remain in full force and effect regardless
of any investigation made by or on behalf of the Indemnified Person and shall survive the transfer of the Registrable Securities by the
Investor pursuant to Section 9.

 

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b.
Promptly after receipt by an Indemnified Person or Indemnified Party under this Section 6 of notice of the commencement of any action
or proceeding (including any governmental action or proceeding) involving a Claim, such Indemnified Person or Indemnified Party shall,
if a Claim in respect thereof is to be made against any indemnifying party under this Section 6, deliver to the indemnifying party a
written notice of the commencement thereof, and the indemnifying party shall have the right to participate in, and, to the extent the
indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume control of the defense thereof
with counsel mutually satisfactory to the indemnifying party and the Indemnified Person or the Indemnified Party, as the case may be;
provided, however, that an Indemnified Person or Indemnified Party shall have the right to retain its own counsel with the fees and expenses
to be paid by the indemnifying party, if, in the reasonable opinion of counsel retained by the indemnifying party, the representation
by such counsel of the Indemnified Person or Indemnified Party and the indemnifying party would be inappropriate due to actual or potential
differing interests between such Indemnified Person or Indemnified Party and any other party represented by such counsel in such proceeding.
The Indemnified Party or Indemnified Person shall cooperate fully with the indemnifying party in connection with any negotiation or defense
of any such action or claim by the indemnifying party and shall furnish to the indemnifying party all information reasonably available
to the Indemnified Party or Indemnified Person which relates to such action or claim. The indemnifying party shall keep the Indemnified
Party or Indemnified Person fully apprised at all times as to the status of the defense or any settlement negotiations with respect thereto.
No indemnifying party shall be liable for any settlement of any action, claim or proceeding effected without its written consent, provided,
however, that the indemnifying party shall not unreasonably withhold, delay or condition its consent. No indemnifying party shall, without
the consent of the Indemnified Party or Indemnified Person, consent to entry of any judgment or enter into any settlement or other compromise
which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party or Indemnified
Person of a release from all liability in respect to such claim or litigation. Following indemnification as provided for hereunder, the
indemnifying party shall be subrogated to all rights of the Indemnified Party or Indemnified Person with respect to all third parties,
firms or corporations relating to the matter for which indemnification has been made. The failure to deliver written notice to the indemnifying
party within a reasonable time of the commencement of any such action shall not relieve such indemnifying party of any liability to the
Indemnified Person or Indemnified Party under this Section 6, except to the extent that the indemnifying party is prejudiced in its ability
to defend such action.

 

c.
The indemnification required by this Section 6 shall be made by periodic payments of the amount thereof during the course of the investigation
or defense, as and when bills are received or Indemnified Damages are incurred.

 

d.
The indemnity agreements contained herein shall be in addition to (i) any cause of action or similar right of the Indemnified Party or
Indemnified Person against the indemnifying party or others, and (ii) any liabilities the indemnifying party may be subject to pursuant
to the law.

 

7.
CONTRIBUTION.

 

To
the extent any indemnification by an indemnifying party is prohibited or limited by law, the indemnifying party agrees to make the maximum
contribution with respect to any amounts for which it would otherwise be liable under Section 6 to the fullest extent permitted by law;
provided, however, that: (i) no seller of Registrable Securities guilty of fraudulent misrepresentation (within the meaning of Section
11(f) of the Securities Act) shall be entitled to contribution from any seller of Registrable Securities who was not guilty of fraudulent
misrepresentation; and (ii) contribution by any seller of Registrable Securities shall be limited in amount to the net amount of proceeds
received by such seller from the sale of such Registrable Securities.

 

8.
REPORTS AND DISCLOSURE UNDER THE SECURITIES ACTS.

 

With
a view to making available to the Investor the benefits of Rule 144 promulgated under the Securities Act or any other similar rule or
regulation of the SEC that may at any time permit the Investor to sell securities of the Company to the public without registration (“Rule
144”), the Company agrees, at the Company’s sole expense, to:

 

a.
make and keep public information available, as those terms are understood and defined in Rule 144;

 

b.
file with the SEC in a timely manner all reports and other documents required of the Company under the Securities Act and 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;

 

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c.
furnish to the Investor so long as the Investor owns Registrable Securities, promptly upon request, (i) a written statement by the Company
that it has complied with the reporting and or disclosure provisions of Rule 144, the Securities Act and the Exchange Act, (ii) a copy
of the most recent annual or quarterly report of the Company and such other reports and documents so filed by the Company, and (iii)
such other information as may be reasonably requested to permit the Investor to sell such securities pursuant to Rule 144 without registration;
and

 

d.
take such additional action as is requested by the Investor to enable the Investor to sell the Registrable Securities pursuant to Rule
144, including, without limitation, delivering all such legal opinions, consents, certificates, resolutions and instructions to the Company’s
Transfer Agent as may be requested from time to time by the Investor and otherwise fully cooperate with Investor and Investor’s
broker to effect such sale of securities pursuant to Rule 144.

 

The
Company agrees that damages may be an inadequate remedy for any breach of the terms and provisions of this Section 8 and that Investor
shall, whether or not it is pursuing any remedies at law, be entitled to equitable relief in the form of a preliminary or permanent injunctions,
without having to post any bond or other security, upon any breach or threatened breach of any such terms or provisions.

 

9.
ASSIGNMENT OF REGISTRATION RIGHTS.

 

The
Company shall not assign this Agreement or any rights or obligations hereunder without the prior written consent of the Investor.

 

10.
AMENDMENT OF REGISTRATION RIGHTS.

 

No
provision of this Agreement may be amended or waived by the parties from and after the date that is one Business Day immediately preceding
the initial filing of the Registration Statement with the SEC. Subject to the immediately preceding sentence, no provision of this Agreement
may be (i) amended other than by a written instrument signed by both parties hereto or (ii) waived other than in a written instrument
signed by the party against whom enforcement of such waiver is sought. Failure of any party to exercise any right or remedy under this
Agreement or otherwise, or delay by a party in exercising such right or remedy, shall not operate as a waiver thereof.

 

11.
MISCELLANEOUS.

 

a.
A Person is deemed to be a holder of Registrable Securities whenever such Person owns or is deemed to own of record such Registrable
Securities. If the Company receives conflicting instructions, notices or elections from two or more Persons with respect to the same
Registrable Securities, the Company shall act upon the basis of instructions, notice or election received from the registered owner of
such Registrable Securities.

 

b.
Any notices, consents, waivers or other communications required or permitted to be given under the terms of this Agreement must be in
writing and will be deemed to have been delivered: (i) upon receipt, when delivered personally; (ii) upon receipt, when sent by email
(provided confirmation of transmission is mechanically or electronically generated and kept on file by the sending party); or (iii) one
(1) Business Day after deposit with a nationally recognized overnight delivery service, in each case properly addressed to the party
to receive the same. The addresses for such communications shall be:

 

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If
to the Company:

 

	 	BioPower
    Operations Corporation
	 	20801
    Biscayne Blvd., Suite 403
	 	Aventura,
    FL 33180
	 	Email:
    t.macdonald@hyfi-corp.com
	 	Attention:
    Troy MacDonald

 

If
to the Investor:

 

	 	Peak
    One Opportunity Fund, L.P.
	 	333
    South Hibiscus Drive
	 	Miami
    Beach, FL 33139
	 	Email:
    JGoldstein@PeakOneInvestments.com

 

or
at such other address and/or email address and/or to the attention of such other person as the recipient party has specified by written
notice given to each other party three (3) Business Days prior to the effectiveness of such change. Written confirmation of receipt (A)
given by the recipient of such notice, consent, waiver or other communication, (B) mechanically or electronically generated by the sender’s
email account containing the time, date, recipient email address, as applicable, and an image of the first page of such transmission
or (C) provided by a nationally recognized overnight delivery service, shall be rebuttable evidence of personal service, receipt by facsimile
or receipt from a nationally recognized overnight delivery service in accordance with clause (i), (ii) or (iii) above, respectively.

 

c.
The corporate laws of the State of Nevada shall govern all issues concerning this Agreement. All other questions concerning the construction,
validity, enforcement and interpretation of this Agreement shall be governed by the internal laws of the State of Nevada, without giving
effect to any choice of law or conflict of law provision or rule (whether of the State of Nevada or any other jurisdictions) that would
cause the application of the laws of any jurisdictions other than the State of Nevada. Each party hereby irrevocably submits to the exclusive
jurisdiction of the state courts sitting in the State of Florida, County of Miami-Dade and federal courts sitting in the State of Florida,
County of Miami-Dade, for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby
or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is
not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is brought in an inconvenient forum
or that the venue of such suit, action or proceeding is improper. Each party hereby irrevocably waives personal service of process and
consents to process being served in any such suit, action or proceeding by mailing a copy thereof to such party at the address for such
notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof.
Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. If any provision
of this Agreement shall be invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall not affect the validity
or enforceability of the remainder of this Agreement in that jurisdiction or the validity or enforceability of any provision of this
Agreement in any other jurisdiction.

 

d.
This Agreement and the Purchase Agreement constitute the entire agreement among the parties hereto with respect to the subject matter
hereof and thereof. There are no restrictions, promises, warranties or undertakings, other than those set forth or referred to herein
and therein. This Agreement and the Purchase Agreement supersede all prior agreements and understandings among the parties hereto with
respect to the subject matter hereof and thereof.

 

    	9

    	 

    

 

e.
Subject to the requirements of Section 9, this Agreement shall inure to the benefit of and be binding upon the successors and permitted
assigns of each of the parties hereto.

 

f.
The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof.

 

g.
This Agreement may be executed in identical counterparts, each of which shall be deemed an original but all of which shall constitute
one and the same agreement. This Agreement, once executed by a party, may be delivered to the other party hereto by facsimile transmission
or by e-mail in a “.pdf” format data file of a copy of this Agreement bearing the signature of the party so delivering this
Agreement.

 

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

 

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

 

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

 

*
* * * * *

 

    	10

    	 

    

 

IN
WITNESS WHEREOF, the parties have caused this Agreement to be duly executed as of day and year first above written.

 

	 	THE
    COMPANY:
	 	 
	 	BIOPOWER
    OPERATIONS CORPORATION
	 	 	 
	 	By:	/s/
    Troy MacDonald
	 	Name:	Troy
    MacDonald
	 	Title:	Chief
    Executive Officer
	 	 	 
	 	INVESTOR:
	 	 
	 	PEAK
    ONE OPPORTUNITY FUND, L.P.
	 	 	 
	 	By:	Peak
    One Investments, LLC,
	 	 	General
    Partner
	 	 	 
	 	By:	/s/
    Jason Goldstein
	 	Name:	Jason
    Goldstein
	 	Title:	Managing
    Member

 

[Signature
Page to registration rights agreement]

 

    	11

    	 

    

 

EXHIBIT
A

 

TO
REGISTRATION RIGHTS AGREEMENT

 

FORM
OF NOTICE OF EFFECTIVENESS

OF
REGISTRATION STATEMENT

 

______,
2022

 

Continental
Stock Transfer & Trust Company

1
State Street Plaza, 30th Floor

New
York, NY 10004

 

Re:
Effectiveness of Registration Statement

 

Ladies
and Gentlemen:

 

We
are counsel to BIOPOWER OPERATIONS CORPORATION, a Nevada corporation (the “Company”), and have represented
the Company in connection with that certain Purchase Agreement, dated as of August 8, 2022 (the “Purchase Agreement”),
entered into by and between the Company and Peak One Opportunity Fund, L.P., a Delaware limited partnership (the “Investor”)
pursuant to which the Company has agreed to issue to the Investor shares of the Company’s Common Stock, $0.0001 par value (the
“Common Stock”), in an amount up to Fifteen Million Dollars ($15,000,000.00) (the “Put Shares”),
in accordance with the terms of the Purchase Agreement. In connection with the transactions contemplated by the Purchase Agreement, the
Company has registered with the U.S. Securities & Exchange Commission the following shares of Common Stock:

 

	 	(1)	__________
    , which includes the Put Shares to be issued to the Investor upon purchase from the Company by the Investor from time to time in
    accordance with the Purchase Agreement; and
	 	 	 
	 	(2)	__________,
    which includes the Warrant Shares (as defined in the Purchase Agreement) (the “Warrant Shares”) to be issued to
    the Investments from time to time in accordance with the Warrant (as defined in the Purchase Agreement).

 

Pursuant
to the Purchase Agreement, the Company also has entered into a registration rights agreement, of even date with the Purchase Agreement
with the Investor (the “Registration Rights Agreement”) pursuant to which the Company agreed, among other things,
to register the Put Shares and Warrant Shares under the Securities Act of 1933, as amended (the “Securities Act”).
In connection with the Company’s obligations under the Purchase Agreement and the Registration Rights Agreement, on [_____], 2022,
the Company filed a Registration Statement (File No. 333-[_________]) (the “Registration Statement”) with the Securities
and Exchange Commission (the “SEC”) relating to the resale of the Put Shares and the Warrant Shares.

 

In
connection with the foregoing, we advise you that a member of the SEC’s staff has advised us by telephone that the SEC has entered
an order declaring the Registration Statement effective under the Securities Act at [_____] [A.M./P.M.] on [__________], 2022 and we
have no knowledge, after telephonic inquiry of a member of the SEC’s staff, that any stop order suspending its effectiveness has
been issued or that any proceedings for that purpose are pending before, or threatened by, the SEC and the Put Shares and Warrant Shares
are available for resale under the Securities Act pursuant to the Registration Statement and may be issued without any restrictive legend.

 

 

	 	 	Very
    truly yours,
	 	 	[Company
    Counsel]
	 	 	 	         
	 	 	By:	
	 	 	 	 
	cc:	Peak
    One Opportunity Fund, L.P.Exhibit  4.1

AMENDMENT AND WAIVER

This Amendment and Waiver (this “Agreement”) is entered into as of June 30, 2022, by and between Akerna Corp., a Delaware corporation (the “Company”), and the undersigned holder (the “Holder”), in accordance with that certain Securities Purchase Agreement between the Company and all of the investors listed on the Schedule of Buyers (the “Buyers”) dated October 5, 2021 (the “SPA”) with reference to the following facts:

A. On October 5, 2021, the Company and the Buyers entered into the SPA in relation to the issuance and sale by the Company and purchase by the Holders of that aggregate principal amount of senior secured convertible notes of the Company, in substantially the form attached to the SPA as Exhibit A (as amended or waived from time to time prior to the date hereof, the “Notes”), set forth opposite such Buyer's name on the Schedule of Buyers (which aggregate principal amount of Notes for all Buyers was $20,000,000). Capitalized terms not defined herein shall have the meaning as set forth in the Notes.

 

B. The issuance of the Notes occurred at a closing on October 5, 2021 (the “Closing Date”).

 

C. The Company desires to enter into a Dilutive Issuance pursuant to which the Company shall issue in a registered offering (the “New Offering”) of units (the “New Units”) and pre-funded units (the “New Pre-Funded Units”) for a purchase price of $0.23 per Unit or $0.2299 per Pre-Funded Unit (the “New Unit Price” and “New Pre-Funded Unit Price”, respectively) for aggregate gross proceeds of $10 million with an option granted to the underwriter of the New Offering (the “Underwriter”) for an additional 15% of the aggregate amount sold in the New Offering (the “Over-allotment Option”), each Unit consisting of one share of Common Stock along with a warrant in the form attached hereto as Exhibit A (the “New Warrants”) to purchase one share of Common Stock, each with an exercise price of $0.23 per Share (the “New Warrant Exercise Price”) and each Pre-Funded Unit consisting of one pre-funded warrant in the form attached hereto as Exhibit B (the “New Pre-Funded Warrants”) and one New Warrant with each Pre-Funded Warrant exercisable at $0.001 per Pre-Funded Warrant (the “New Pre-Funded Warrant Exercise Price”) to purchase one share of Common Stock. The Company will also grant to the Underwriter, Underwriter Warrants equal to 5% of the aggregate number of the shares of common stock (including shares underlying warrants and/or pre-funded warrants, but excluding shares issued upon the exercise of the underwriter’s over-allotment option) issued in this offering with the same terms as the New Warrants and in the form attached hereto as Exhibit C (the “New Underwriter Warrants”) exercisable at the New Warrant Exercise Price.

 

D. In connection with the New Offering, the Company desires (i) that the Holder waive, in part, (x) the adjustment to the Conversion Price pursuant to Section 7(a) of the Notes solely as a result of the issuance of the Units at the New Unit Price, New Pre-Funded Units at the Pre-Funded Unit Price and any issuances of shares of Common Stock upon exercise of either (i) the New Pre-Funded Warrants at the New Pre-Funded Warrant Exercise Price, (ii) the New Warrants at the New Exercise Price and/or (iii) the New Underwriter Warrants at the New Exercise Price, as applicable, such that upon consummation of the New Offering the Conversion Price shall be lowered to $0.3105 per share (equal to 135% of the New Unit Price) (as adjusted for stock splits, stock dividends, stock combinations, recapitalizations and similar events) (the “New  Offering Antidilution Waiver”) (y) clause (i) of the definition of Installment Amount solely for each of the Installment Dates of July 1, 2022, August 1, 2022, September 1, 2022, October 3, 2022, November 1, 2022 and December 1, 2022, such that such clause shall not include any Principal of the Notes for such Installment Dates (the “New Installment Waiver”), and (z) any acceleration of previously deferred Installment Amounts under Section 8(d) of the Notes pursuant to Section  8(e)of the Notes until January 1, 2023 (the “New Acceleration Waiver”) and (ii) to amend the SPA as described in Section 1 below.

 

NOW, THEREFORE, in consideration of the premises and the mutual covenants contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, this Agreement will become effective upon execution and delivery of this Agreement and substantially similar agreements (other than the identity of the Holder and any provisions with respect to legal fees reimbursement) (such other agreements, the “Other Amendment Agreements” and together with this Agreement, the “Amendment Agreements”) duly executed and delivered by each of the Buyers and the Company (the “Effective Time”), and the Company and the Holder hereby agree as follows:

 

1. Effective as of Effective Time, the SPA shall be hereby amended as follows (the “Amendments”:

(a) Section 4 of the SPA is hereby amended to add the following as Section 4(ff) thereof:

(ff) Daily Available Cash Test. At any time any Notes remain outstanding, the Company’s Available Cash at all times, commencing on July 5, 2022, shall equal or exceed $7 million (the “Daily Available Cash Test”), which amount shall be reduced by $1 million on each Required Release Date (as defined in Section 4(gg) below), subject all cases to a minimum of $5 million of Available Cash.

(b) Section 4 of the SPA is hereby amended to add the following as Section 4(gg) thereof:

(gg) On or prior to July 8, 2022, the Company shall establish and maintain a bank account for each holder of Notes (collectively, the “Master Restricted Accounts”, and each such holder, a “Holder”) at a bank or a financial institution satisfactory to such Holder (each, as applicable, a “Controlled Account Bank”), which Master Restricted Account applicable to a Holder shall be subject to deposit account control agreement in form and substance reasonably acceptable to such Holder (the “Controlled Account Agreement”). Each Controlled Account Agreement shall provide, among other things, that (A) the applicable Controlled Account Bank will solely comply with any and all instructions originated by such Holder directing the disposition of the funds in the Master Restricted Accounts without further consent by the Company or any such Subsidiaries, (B) such Controlled Account Bank waives, subordinates or agrees not to exercise any rights of setoff or recoupment or any other claim against the applicable Master Restricted Account other than for payment of its service fees and other charges directly related to the administration of such Master Restricted Account and for returned checks or other items of payment, and (C) such Controlled Account Bank shall not comply with any instructions, directions or orders of any form with respect to such Master Restricted Account other than instructions, directions or orders originated by the applicable Holder. On or prior to July 8, 2022, the Company shall deposit an aggregate of $7 million into the Master Restricted Accounts with $3,850,000 being deposited into the Master Restricted Account for High Trial Investments ON LLC and $3,150,000 being deposited into the Master Restricted Account for Alto Opportunity Master Fund, SPC – Segregated Master Portfolio B.

(i) Upon the occurrence of any Control Account Release Event (as defined below), such applicable Holder shall, as soon as commercially practicable, but in no event later than two (2) Trading Days thereafter, instruct the Control Account Bank to release such cash amount required to be released pursuant to such Control Account Release Event from the Master Restricted Account attributable to such Holder and deposited into an bank account specified in writing by the Company on or prior to such date (each a “Control Account Release”); provided, that if the Company fails to select a bank account in a writing delivered to such Holder on or prior to such second Trading Day, such Holder shall effect such Control Account Release as soon as commercially practicable after receipt of such bank account election from the Company.

(ii) The Company hereby grants and pledges to each Holder a continuing security interest in any cash or other assets, from time to time, in the Master Restricted Account attributable to such Holder’s Note (the “Collateral”) to secure prompt repayment of any and all amounts outstanding hereunder from time to time and to secure prompt performance by the Company of each of its covenants and duties under the Transaction Documents (as defined in the Securities Purchase Agreement). Such security interest constitutes a valid, first priority security interest in the presently existing Collateral, and will constitute a valid, first priority security interest in later-acquired Collateral. Notwithstanding any filings undertaken related to each Holder’s rights under the Delaware Uniform Commercial Code, each Holder’s Lien (as defined in the Notes) on the Collateral shall remain in effect for so long as any Notes remain outstanding. Notwithstanding the foregoing, upon any Control Account Release, but solely with respect to such cash amount from the Master Restricted Account attributable to such Holder that is subject to such Control Account Release (and not with respect to any other Holder) (each, a “Control Account Release Amount”), such Holder hereby automatically releases any lien hereunder on such Control Account Release Amount. The Company hereby (i) authorizes each Holder to file, one or more financing or continuation statements, and amendments thereto, relating to the Collateral and (ii) ratifies such authorization to the extent that a Holder has filed any such financing or continuation statements, or amendments thereto, prior to the date hereof.

(iii) Notwithstanding anything herein to the contrary, at the option of each Holder, such Holder may satisfy all, or any part, of any redemption or other cash payment obligation of the Company under the Note of such Holder (each, a “Cash Payment Obligation”) from the Collateral in the Master Restricted Account attributable to such Holder, including, without limitation, in connection with any Event of Default, Change of Control, Company Optional Redemption, Installment Redemption or payment due at the Maturity Date. In connection with any Cash Payment Obligation to a Holder, the Company hereby irrevocably consents to such Holder’s delivery of an instruction letter to the Controlled Account Bank to release Collateral from the Master Restricted Account attributable to such Holder in an amount not to exceed such Cash Payment Obligation to such Holder. Notwithstanding the foregoing, in the absence of any such election by such Holder, the Company shall remain obligated to pay such Cash Payment Obligation to such Holder without regard to any Collateral in the applicable Master Restricted Account. Upon the occurrence of any event which could reasonably be expected to result in a Cash Payment Obligation, a Holder may, at such Holder’s option, withdraw any Collateral in the Master Restricted Account attributable to such Holder; provided that (x) such withdrawn amount shall not exceed such amount which such Holder reasonably believes would be necessary to satisfy such Cash Payment Obligation, and (y) such withdrawal shall not constitute the delivery of a Redemption Notice or payment under the Note of such Holder unless such Holder specifies in writing to the Company that such Holder has applied such Collateral in satisfaction of such Cash Payment Obligation. 

(iv) If the Controlled Account Bank breaches any covenant or other term or condition of any Controlled Account Agreement or otherwise fails to promptly comply with the instructions of a Holder in connection with the Collateral, such Holder may, at its option, withdraw the Collateral from the Controlled Account Bank and hold such Collateral until such time as (x) the Company and such Holder have agreed upon a replacement Controlled Account Bank and (y) a Controlled Account Agreement with respect to such Collateral and a new account shall have been duly executed by the Company, such Holder and the replacement Controlled Account Bank. Notwithstanding anything herein to the contrary, if the Company or any of its Subsidiaries receives any of the Collateral in breach of any Controlled Account Agreement (or receives notice from any Holder that an amount was wired to the Company from a Master Restricted Account attributable to such Holder without the proper authorization of such Holder), the Company shall promptly cause such amounts to be returned to such applicable Master Restricted Account.

(v) For the purpose of this Agreement, “Control Account Release Event” means, as applicable, (I) the occurrence of each of (x) $14 million of aggregate principal of the Notes (or less) remaining outstanding and (y) $11 million of aggregate principal of the Notes (or less) remains outstanding (each, a “Required Release Date”), so long as no Equity Conditions Failure then exists, the Company may require (x) High Trial Investments ON LLC (or its registered assigns) to release to the Company an aggregate of $550,000 of cash from its Master Restricted Account and (y) Alto Opportunity Master Fund, SPC – Segregated Master Portfolio B (or its registered assigns) to release to the Company an aggregate of $450,000 of cash from its Master Restricted Account, in each case, in connection with such applicable Required Release Date and (II) the Company’s receipt of a notice by a Holder electing to effect a release of all, or any part, of cash in the Master Restricted Account attributable to such Holder to the Company, but only such amount set forth in such notice.

(c) the definition of “Transaction Documents” shall be amended to include this Agreement.

2. Waiver. Effective as of the Effective Time, the Company and the Holder hereby agree to New Offering Antidilution Waiver, the New Installment Waiver and the New Acceleration Waiver.

 

3. Acknowledgments. The Company hereby confirms and agrees that (i) except with respect to the Amendments, the Waiver and the Deferral that is effective as of the Effective Time, the Notes and the other Transaction Documents shall continue to be, in full force and effect; (ii) the execution, delivery and effectiveness of this Agreement shall not operate as an amendment, modification or waiver of any right, power or remedy of the Holder or any other Buyers except to the extent expressly set forth herein. 

 

4. No Material Information. The material terms of this Agreement having been disclosed in the Company’s registration statement on Form S-1/A as filed on June 29, 2022, the Holder is not be in possession of any material, nonpublic information received from the Company, any of its Subsidiaries or any of their respective officers, directors, employees, affiliates or agents. In addition, the Company acknowledges and agrees that any and all confidentiality or similar obligations under any agreement, whether written or oral, between the Company, any of its Subsidiaries or any of their respective officers, directors, affiliates, employees or agents on the one 

hand, and the Holder or any of its affiliates on the other hand, has terminated as of the date hereof and is of no further force or effect. The Company shall not, and shall cause each of its Subsidiaries and its and each of their respective officers, directors, affiliates, employees and agents, not to, provide any Holder with any material, non-public information regarding the Company or any of its Subsidiaries from and after the date hereof without the express prior written consent of the Holder. To the extent that the Company, any of its Subsidiaries or any of their respective officers, directors, affiliates employees or agents delivers any material, non-public information to any 

Holder without the Holder’s consent, the Company hereby covenants and agrees that the Holder shall not have any duty of confidentiality to the Company, any of its Subsidiaries or any of their respective officers, directors, affiliates, employees or agents with respect to, or a duty to the Company, any of its Subsidiaries or any of their respective officers, directors, affiliates, employees or agents not to trade on the basis of, such material, non-public information. The Company understands and confirms that the Holder will rely on the foregoing representations in effecting transactions in securities of the Company.

 

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

 

6. Counterparts. This Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed to be an original and all of which taken together shall constitute but one and the same instrument. In the event that any signature is delivered by facsimile transmission or by an email which contains a portable document format (.pdf) file of an executed signature page, such signature  page shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such signature page were an original thereof.

 

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

 

8. Headings. The headings of this Agreement are for convenience of reference and shall not form part of, or affect the interpretation of, this Agreement.

 

9. Severability. If any provision of this Agreement is prohibited by law or otherwise determined to be invalid or unenforceable by a court of competent jurisdiction, the provision that would otherwise be prohibited, invalid or unenforceable shall be deemed amended to apply to the broadest extent that it would be valid and enforceable, and the invalidity or unenforceability of such provision shall not affect the validity of the remaining provisions of this Agreement so long as this Agreement as so modified continues to express, without material change, the original intentions of the parties as to the subject matter hereof and the prohibited nature, invalidity or 

unenforceability of the provision(s) in question does not substantially impair the respective expectations or reciprocal obligations of the parties or the practical realization of the benefits that would otherwise be conferred upon the parties. The parties will endeavor in good faith negotiations to replace the prohibited, invalid or unenforceable provision(s) with a valid provision(s), the effect of which comes as close as possible to that of the prohibited, invalid or unenforceable provision(s).

 

10. Fees and Expenses. Except for a non-accountable amount of $25,000, which shall be paid by the Company to Kelley Drye & Warren LLP on behalf of the lead investor, each party shall pay the fees and expenses of its advisers, counsel, accountants and other experts, if any, and all other expenses incurred by such party incident to the negotiation, preparation, execution, delivery and performance of this Agreement. 

 

11. Amendments. No provision of this Agreement may be amended other than by an instrument in writing signed by the Company and the Holder.

 

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

 

13. Notice. Whenever notice is required to be given under this Agreement, unless otherwise provided herein, such notice shall be given in accordance with Section 9(f) of the SPA.

 

14. Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their respective successors and assigns.

 

15. Governing Law; Jurisdiction; Jury Trial. All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by the internal laws of the State of New York, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of New York or any other jurisdictions) that would cause the application of the laws of any jurisdictions other than the State 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 brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper. Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof to such party at the address for such notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE  HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

[Signature Pages Follow]

IN WITNESS WHEREOF, the undersigned and the Company have caused their respective signature page to this Agreement to be duly executed as of the date first written above.

	
	COMPANY:
	
	AKERNA CORP.
	
	By: /s/ Jessica Billingsley
	
	Name: Jessica Billingsley
	
	Title: Chief Executive Officer

 

IN WITNESS WHEREOF, the undersigned and the Company have caused their respective signature page to this Agreement to be duly executed as of the date first written above.

 

	
	HOLDER:
	
	HIGH TRAIL INVESTMENTS SA LLC
	
	By: /s/ Eric Helenek
	
	Name: Eric Helenek
	
	Title: Authorized Signatory

IN WITNESS WHEREOF, the undersigned and the Company have caused their respective signature page to this Agreement to be duly executed as of the date first written above.

 

	
	HOLDER:
	
	ALTO OPPORTUNITY MASTER FUND, SPC – SEGREGATED MASTER PORTFOLIO B
	
	By: /s/ Waqas Khatri
	
	Name: Waqas Khatri
	
	Title: Director

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