Document:

EX-4.10

  Exhibit 4.10

  EXECUTION COP|Y

  SECURITIES PURCHASE AGREEMENT

   

  This SECURITIES PURCHASE AGREEMENT (the “Agreement”), dated as of January 31, 2022, by and between KORE Power, Inc., a Nevada corporation, with headquarters located at 1875 N. Lakewood Drive, Suite 200, Coeur d’Alene, ID 83814 (“KORE”), and Novonix Limited, an Australian corporation, with its address at Brisbane, QLD, Australia  (“Novonix”).

   

  WHEREAS:

   

  A.KORE and the Novonix are executing and delivering this Agreement in reliance upon the exemption from securities registration afforded by Section 4(a)(2) of the Securities Act of 1933, as amended (the “1933 Act”) and Rule 506(b) promulgated by the United States Securities and Exchange Commission (the “SEC”) under the 1933 Act;

   

  B.Novonix desires to purchase from KORE, and KORE desires to issue and sell to Novonix, upon the terms and conditions set forth in this Agreement, three million three hundred thirty-three thousand three hundred thirty-three (3,333,333) shares of KORE Common Stock (as defined below) (the “KORE Shares”), upon the terms and subject to the limitations and conditions set forth in this Agreement;

   

  C.Novonix wishes to purchase the KORE Shares upon the terms and conditions stated in this Agreement;

   

  NOW THEREFORE, in consideration of the foregoing and of the agreements and covenants herein contained, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, KORE and Novonix hereby agree as follows:

   

  1.Purchase and Sale of KORE Shares.

   

  a.Purchase of KORE Shares. On the Closing Date (as defined below), KORE shall issue and sell to Novonix, and Novonix agrees to purchase from KORE, the KORE Shares, as further provided herein.  “Common Stock” shall mean the Common Stock of the KORE,US $0.001 par value per share.

   

  b.Form of Payment. On the Closing Date: 

  (i) Novonix shall pay the purchase price of US$25,000,000 (the “Purchase Price”) for the KORE Shares, being US $7.50 per share, to be issued and sold to it at the Closing (as defined below), by a combination of US $12,500,003 in cash (delivered via wire transfer in accordance with KORE’s written wiring instructions), and issue 1,974,723 fully paid ordinary shares of Novonix (the “Novonix Shares”) equal in value in aggregate to US $12,499,997, at Closing, calculated based upon a per share price of $6.33 (“Issue Price”) which is the US dollar equivalent of ninety five percent (95%) of the volume weighted average trading price, of the Novonix Shares, on the Australian Securities Exchange for the twenty (20) trading days ending on January 25, 2022; and

   

  (ii)  KORE shall deliver the KORE Shares on behalf of KORE, to Novonix, against delivery of such Purchase Price. This Agreement serves as an application by KORE for the allotment on the Closing Date of the Novonix Shares and accordingly it will not be necessary for KORE to provide a separate (additional) application on or prior to the Closing Date in respect of the Novonix Shares. KORE (a) irrevocably directs Novonix to discharge its obligation to issue the Novonix Shares by allotting and issuing the Novonix Shares to KORE at the Issue Price and credited as fully paid; and (b) agrees to become a member of Novonix and to be bound by the constitution of Novonix and consents to the entry of its name on Novonix's register of members, in each case, upon the issue of the Novonix Shares. As soon as reasonably practicable following the Closing Date, Novonix shall use its reasonable efforts to ensure official quotation of the Novonix Shares is obtained in accordance with the official listing rules of the Australian Securities Exchange ("ASX Listing Rules"). Novonix shall, within 5 business days of the Closing Date, provide to KORE, a holding statement issued by or on behalf of Novonix in the name of KORE for the Novonix Shares and issue a cleansing notice pursuant to section 708A(5) of the Corporations Act that complies with section 708A(6) of the Corporations Act in relation to the Novonix Shares.

   

  

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  (iii) The US$/AUS$ exchange rate for the payment set out herein shall be equal to 0.7137803253 US$/AUS$. 

   

  c.Closing Date. Subject to the satisfaction (or written waiver) of the conditions thereto set forth in Section 5 and Section 6 below, the date and time of the issuance and sale of the KORE Shares pursuant to this Agreement (the “Closing Date”) shall be on the date hereof.

   

  d.Closing. The closing of the transactions contemplated by this Agreement (the “Closing”) shall occur on the Closing Date at such location as may be agreed to by the parties (including via exchange of electronic signatures).

   

  2.Novonix’s Representations and Warranties. Novonix represents and warrants to KORE as of the Closing Date that:

   

  a.Investment Purpose. Novonix is purchasing the KORE Shares for its own account and not with a present view towards the public sale or distribution thereof, except pursuant to sales registered or exempted from registration under the 1933 Act; provided, however, that by making the representations herein, Novonix does not agree to hold any of the KORE Shares for any minimum or other specific term and reserves the right to dispose of the KORE Shares at any time in accordance with or pursuant to a registration statement or an exemption under the 1933 Act.

   

  b.Accredited Investor Status. Novonix is an “accredited investor” as that term is defined in Rule 501(a) of Regulation D (an “Accredited Investor”).

   

  c.Reliance on Exemptions. Novonix understands that the KORE Shares are being offered and sold to it in reliance upon specific exemptions from the registration requirements of United States federal and state securities laws and that KORE is relying upon the truth and accuracy of, and Novonix’s compliance with, the representations, warranties, agreements, acknowledgments and understandings of Novonix set forth herein in order to determine the availability of such exemptions and the eligibility of Novonix to acquire the KORE Shares.

   

  d.Information. Novonix and its advisors, if any, have been, furnished with all materials relating to the business, finances and operations of KORE and materials relating to the offer and sale of the KORE Shares which have been requested by Novonix or its advisors. Novonix and its advisors, if any, have been, afforded the opportunity to ask questions of KORE regarding its business and affairs. Neither such inquiries nor any other due diligence investigation conducted by Novonix or any of its advisors or representatives shall modify, amend or affect Novonix’s right to rely on KORE’s representations and warranties contained in Section 3 below.

   

  e.Governmental Review. Novonix understands that no United States federal or state agency or any other government or governmental agency has passed upon or made any recommendation or endorsement of the KORE Shares.

   

  f.Transfer or Re-sale. Novonix understands that (i) the KORE Shares have not been and are not being registered under the 1933 Act or any applicable state securities laws, and the KORE Shares may not be transferred unless (a) the KORE Shares are sold pursuant to an effective registration statement under the 1933 Act, (b) If requested by KORE, Novonix shall have delivered to KORE, at the cost of Novonix, an opinion of counsel  that shall be in form, substance and scope customary for opinions of counsel in comparable transactions to the effect that the KORE Shares to be sold or transferred may be sold or transferred pursuant to an exemption from such registration, (c) the KORE Shares are sold or transferred to an “affiliate” (as defined in Rule 144 promulgated under the 1933 Act (or a successor rule) (“Rule 144”)) of Novonix who agrees to sell or otherwise transfer the KORE Shares only in accordance with this Section 2(f) and who is an Accredited Investor, (d) the KORE Shares are sold pursuant to Rule 144 or other applicable exemption, or (e) the KORE Shares are sold pursuant to Regulation S under the 1933 Act (or a successor rule) (“Regulation S”), and Novonix shall have delivered to KORE, at the cost of KORE, an opinion of counsel that shall be in form, substance and scope customary for opinions of counsel in corporate transactions; (ii) any sale of such KORE Shares made in reliance on Rule 144 may be made only in accordance with the terms of said Rule and further, if said Rule is not applicable, any re-sale of such KORE Shares under circumstances in which the seller (or the person through whom the sale is made) may be deemed to be an underwriter (as that term is defined in 

   

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  the 1933 Act) may require compliance with some other exemption under the 1933 Act or the rules and regulations of the SEC thereunder; and (iii) except as set forth in the Shareholders Rights Agreement, neither the KORE nor any other person is under any obligation to register such KORE Shares under the 1933 Act or any state securities laws or to comply with the terms and conditions of any exemption thereunder (in each case). Notwithstanding the foregoing or anything else contained herein to the contrary, the KORE Shares may be pledged in connection with a bona fide margin account or other lending arrangement secured by the KORE Shares, and such pledge of KORE Shares shall not be deemed to be a transfer, sale or assignment of the KORE Shares hereunder, and Novonix in effecting such pledge of the KORE Shares shall be not required to provide KORE with any notice thereof or otherwise make any delivery to KORE pursuant to this Agreement or otherwise.

   

  g.Legends. Novonix understands that until such time as the KORE Shares have been registered under the 1933 Act or may be sold pursuant to Rule 144, Rule 144A under the 1933 Act, Regulation S, or other applicable exemption without any restriction as to the number of securities as of a particular date that can then be immediately sold, the KORE Shares may bear a restrictive legend in substantially the following form (and a stop-transfer order may be placed against transfer of such KORE Shares):

   

  “NEITHER THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144, RULE 144A, REGULATION S, OR OTHER APPLICABLE EXEMPTION UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.”

   

  The legend set forth above shall be removed and KORE shall issue a certificate or book entry statement for the applicable shares of KORE Common Stock without such legend to the holder of any KORE Shares upon which it is stamped or (as requested by such holder) issue the applicable shares of KORE Common Stock to such holder by electronic delivery by crediting the account of such holder’s broker with DTC, if, unless otherwise required by applicable state securities laws, (a) such KORE Shares are registered for sale under an effective registration statement filed under the 1933 Act or otherwise may be sold pursuant to Rule 144, Rule 144A, Regulation S, or other applicable exemption without any restriction as to the number of securities as of a particular date that can then be immediately sold, or (b) KORE or Novonix provides an opinion of legal counsel to the effect that a public sale or transfer of such KORE Shares may be made without registration under the 1933 Act. Novonix agrees to sell all KORE Shares, including those represented by a certificate(s) from which the legend has been removed, in compliance with applicable prospectus delivery requirements, if any. 

   

  h.Authorization; Enforcement. (i) Novonix has all requisite corporate power and authority to enter into and perform this Agreement and to consummate the transactions contemplated herein and to issue the Novonix Shares, in accordance with the terms hereof and thereof, (ii) the execution and delivery, by Novonix, of this Agreement and the delivery of the Novonix Shares and the consummation by Novonix of the transactions contemplated hereby and thereby (including without limitation, the issuance of the Novonix Shares have been duly authorized by Novonix’s Board of Directors and no further consent or authorization of Novonix, its Board of Directors, its shareholders, or its debt holders is required, (iii) this Agreement, and all other documentation executed in connection herewith or therewith have been duly executed and delivered by Novonix by its authorized representative, and such authorized representative is the true and official representative with authority to sign this Agreement, and all other documentation executed in connection herewith or therewith and bind Novonix accordingly, and (iv) assuming due execution and delivery by KORE, this Agreement constitutes, and upon execution and delivery by Novonix each of such instruments will constitute, a legal, valid and binding obligation of Novonix, enforceable against Novonix in accordance with their terms.

   

   

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  i. Absence of Certain Changes. Since the effective date of the filing of the most recent amendment of Form 20-F with the SEC (the “US Filing”), there has been no material adverse change and no material adverse development in the assets, liabilities, business, properties, operations, financial condition, results of operations or prospects of Novonix or any of its Subsidiaries that has not been publicly disclosed by Novonix.

   

  j.  No Integrated Offering. Neither Novonix, nor any of its affiliates, nor any person acting on its or their behalf, has directly or indirectly made any offers or sales in any security or solicited any offers to buy any security under circumstances that would require registration under the 1933 Act of the issuance of the Novonix Shares to KORE. The issuance of the Novonix Shares to KORE will not be integrated with any other issuance of Novonix’s securities (past, current or future) for purposes of any shareholder approval provisions applicable to Novonix or its securities.

   

  k.  No Brokers; No Solicitation. Novonix has taken no action which would give rise to any claim by any person for brokerage commissions, transaction fees or similar payments relating to this Agreement or the transactions contemplated hereby.  Novonix acknowledges and agrees that neither Novonix nor its employee(s), member(s), beneficial owner(s), or partner(s) solicited KORE to enter into this Agreement and consummate the transactions described in this Agreement.

   

  l.  No Investment Company. Novonix is not, and upon the issuance and delivery of the Novonix Shares as contemplated by this Agreement will not be an “investment company” required to be registered under the Investment Company Act of 1940 (an “Investment Company”). Novonix is not controlled by an Investment Company.

   

  m.  No Disqualification Events. None of Novonix, any of its predecessors, any affiliated issuer, any director, executive officer, other officer of Novonix participating in the offering hereunder, any beneficial owner of 20% or more of Novonix’s outstanding voting equity securities, calculated on the basis of voting power, nor any promoter (as that term is defined in Rule 405 under the 1933 Act) connected with Novonix in any capacity at the time of sale (each, an “Issuer Covered Person”) is subject to any of the “Bad Actor” disqualifications described in Rule 506(d)(1)(i) to (viii) under the 1933 Act (a “Disqualification Event”), except for a Disqualification Event covered by Rule 506(d)(2) or (d)(3). Novonix has exercised reasonable care to determine whether any Issuer Covered Person is subject to a Disqualification Event.

   

  n.  Bank Holding Company Act. Neither Novonix nor any of its Subsidiaries is subject to the Bank Holding Company Act of 1956, as amended (the “BHCA”) and to regulation by the Board of Governors of the Federal Reserve System (the “Federal Reserve”). Neither Novonix nor any of its Subsidiaries or affiliates owns or controls, directly or indirectly, five percent (5%) or more of the outstanding shares of any class of voting securities or twenty-five percent (25%) or more of the total equity of a bank or any entity that is subject to the BHCA and to regulation by the Federal Reserve. Neither Novonix nor any of its Subsidiaries or affiliates exercises a controlling influence over the management or policies of a bank or any entity that is subject to the BHCA and to regulation by the Federal Reserve.

   

   (o) Public Listings. The currently issued and outstanding ordinary shares of Novonix are listed and posted for trading on ‎the Australian Securities Exchange, and are currently quoted on the OTC Markets — OTCQX Best Market (the “OTC Market”). No order ceasing or suspending trading in any securities of Novonix or prohibiting the distribution of the Novonix Shares or the trading of any of the issued securities of Novonix has been issued and, to the knowledge of Novonix, no proceedings for such purpose have been threatened or are pending. Novonix (i) has not taken any action which would reasonably be expected to result in the ‎delisting or suspension of the Novonix Shares on or from the ASX and (ii) is ‎currently in compliance, in all material respects, with the applicable material rules and regulations of the ASX. As of the date of its filing, the US Filing complied in all material respects with the requirements of the Securities and Exchange Act of 1934, as amended, and the rules and regulations of the SEC promulgated thereunder with respect to the US Filing.  Novonix has not, in the 12 months preceding the date hereof, received notice from the OTC Market that Novonix is not in compliance with any listing or maintenance requirements of such OTC Market applicable to Novonix.  

   

  (p) Status. Novonix has at all times complied, in all material respects, with its obligations to ‎make timely disclosure of all material changes relating to it and there is no material ‎change relating to Novonix which has occurred and with respect to which the ‎requisite news release has not been disseminated or material change report has not ‎been filed in accordance with the ASX Listing Rules.

   

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  (q) Public Record. The representations, warranties and other statements made by Novonix in this Agreement and any Novonix disclosure schedules attached hereto, together with the information and statements set out in the US Filing, and Novonix’s filings with the ASX, from January 1, 2020 through the Closing Date (except with respect to forecasts, projections and other forward-looking information, in respect of which no representation or warranty is provided under this subsection), taken as a whole, were true and correct in all material respects as of the respective dates of such information or statements and Novonix has not omitted to state any material fact necessary in order to make such information and statements, in light of the circumstances in which they were made, not misleading.

    ‎ 

  3.Representations and Warranties of KORE. KORE represents and warrants to Novonix as of the Closing Date that:

   

  a.Organization and Qualification. KORE and each of its Subsidiaries (as defined below), if any, is a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction in which it is incorporated, with full power and authority (corporate and other) to own, lease, use and operate its properties and to carry on its business as and where now owned, leased, used, operated and conducted. Schedule 3(a), hereto, sets forth a list of all of the Subsidiaries of KORE and the jurisdiction in which each is incorporated. KORE and each of its Subsidiaries is duly qualified as a foreign corporation to do business and is in good standing in every jurisdiction in which its ownership or use of property or the nature of the business conducted by it makes such qualification necessary except where the failure to be so qualified or in good standing would not have a Material Adverse Effect. “Material Adverse Effect” means any material adverse effect on the business, operations, assets, financial condition or prospects of KORE or its Subsidiaries, if any, taken as a whole, or on the transactions contemplated hereby or by the agreements or instruments to be  entered into in connection herewith. “Subsidiaries” means any corporation or other organization, whether incorporated or unincorporated, in which KORE owns, directly or indirectly, any equity or other ownership interest.

   

  b.Authorization; Enforcement. (i) KORE has all requisite corporate power and authority to enter into and perform this Agreement and to consummate the transactions contemplated hereby and thereby and to issue the KORE Shares, in accordance with the terms hereof and thereof, (ii) the execution and delivery, by KORE, of this Agreement and the delivery of the KORE Shares and the consummation by KORE of the transactions contemplated hereby and thereby (including without limitation, the issuance of the KORE Shares have been duly authorized by KORE’s Board of Directors and no further consent or authorization of KORE, its Board of Directors, its shareholders, or its debt holders is required, (iii) this Agreement, and all other documentation executed in connection herewith or therewith have been duly executed and delivered by KORE by its authorized representative, and such authorized representative is the true and official representative with authority to sign this Agreement, and all other documentation executed in connection herewith or therewith and bind KORE accordingly, and (iv) this Agreement constitutes, and upon execution and delivery by KORE each of such instruments will constitute, a legal, valid and binding obligation of KORE, enforceable against KORE in accordance with their terms.

   

  c.Capitalization; Governing Documents. As of January 24, 2022, the authorized capital stock of KORE consists of: 250,000,000 authorized shares of Common Stock, of which 61,228,852 shares were issued and outstanding, and zero authorized shares of Preferred Stock. All of such outstanding shares of capital stock of KORE, are, or upon issuance will be, duly authorized, validly issued, fully paid and non-assessable. Other than is set forth on Schedule 3(c) hereto, no shares of capital stock of KORE are subject to preemptive rights or any other similar rights of the shareholders of KORE or any liens or encumbrances imposed through the actions or failure to act of KORE. As of the effective date of this Agreement and other than is set forth on Schedule 3(c) hereto (i) there are outstanding options to purchase 4,774,173 shares of Common Stock of KORE (“Options”), 19,962,926 warrants to purchase 19,962,926 shares of Common Stock of KORE (“Warrants”) and 1,748,224 restricted stock units of KORE, (ii) no other scrip, rights to subscribe for, puts, calls, rights of first refusal, agreements, understandings, claims or other commitments or rights of any character whatsoever relating to, or securities or rights convertible into or exchangeable for any shares of capital stock of KORE or any of its Subsidiaries, or arrangements by which KORE or any of its Subsidiaries is or may become bound to issue additional shares of capital stock of KORE or any of its Subsidiaries, (iii) there are no agreements or arrangements under which KORE or any of its Subsidiaries is obligated to register the sale of any of its or their securities under the 1933 Act and (iv) there are no anti-dilution or price adjustment provisions contained in  any security issued by KORE (or in any agreement providing rights to security holders)  that  will  be triggered by the issuance of any of the KORE Shares. KORE has furnished to Novonix true and correct copies of KORE’s Certificate of Incorporation as in effect on the date hereof (“Certificate of 

   

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  Incorporation”), KORE’s Bylaws, as in effect on the date hereof (“Bylaws”), and the terms of all securities convertible into or exercisable for Common Stock of KORE and the material rights of the holders thereof in respect thereto.

  d.No Conflicts. The execution, delivery and performance of this Agreement by KORE and the consummation by KORE of the transactions contemplated hereby will not (i) conflict with or result in a violation of any provision of its Certificate of Incorporation or Bylaws, or (ii) violate or conflict with, or result in a breach of any provision of, or constitute a default (or an event which with notice or lapse of time or both could become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement, note, evidence of indebtedness, indenture, patent, patent license or instrument to  which KORE or any of its Subsidiaries is a party, or (iii) result in a violation of any law, rule, regulation, order, judgment or decree (including federal and state securities laws and regulations and regulations of any self-regulatory organizations to which KORE or its securities is subject) applicable to KORE or any of its Subsidiaries or by which any property or asset of KORE or any of its Subsidiaries is bound or affected (except for such conflicts, defaults, terminations, amendments, accelerations, cancellations and violations as would not, individually or in the aggregate, have a Material Adverse Effect), or (iv) other than is set forth on Schedule 3(d) hereto, trigger any anti-dilution and/or ratchet provision contained in any other contract in which KORE is a party thereto or any security issued by KORE. Neither KORE nor any of its Subsidiaries is in violation of its Certificate of Incorporation, Bylaws or other organizational documents and neither KORE nor any of its Subsidiaries is in default (and no event has occurred which with notice or lapse of time or both could put KORE or any of its Subsidiaries in default) under, and neither KORE nor any of its Subsidiaries has taken any action or failed to take any action that would give to others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument to which KORE or any of its Subsidiaries is a party or by which any property or assets of KORE or any of its Subsidiaries is bound or affected, except for possible defaults as would not, individually or in the aggregate, have a Material Adverse Effect. The businesses of KORE and its Subsidiaries, if any, are not being conducted, and shall not be conducted so long as Novonix owns any of the KORE Shares, in violation of any law, ordinance or regulation of any governmental entity. Except as specifically contemplated by this Agreement and as required under the 1933 Act and any applicable state securities laws, KORE is not required to obtain any consent, authorization or order of, or make any filing or registration with, any court, governmental agency, regulatory agency, self-regulatory organization or stock market or any third party in order for it to execute, deliver or perform any of its obligations under this Agreement in accordance with the terms hereof or to issue and sell the KORE Shares in accordance with the terms hereof. All consents, authorizations, orders, filings and registrations which KORE is required to obtain pursuant to the preceding sentence have been obtained or effected on or prior to the date hereof.

   

  e.Financial Statements. As of their respective dates, the financial statements of KORE complied as to form in all material respects with applicable accounting requirements with respect thereto. Such financial statements have been prepared in accordance with United States generally accepted accounting principles, consistently applied, during the periods involved and fairly present in all material respects the consolidated financial position of KORE and its consolidated Subsidiaries as of the dates thereof and the consolidated results of their operations and cash flows for the periods then ended (subject, in the case of unaudited statements, to normal year-end audit adjustments). Except as set forth in the financial statements of KORE, KORE has no liabilities, contingent or otherwise, other than (i) liabilities incurred in the ordinary course of business subsequent to December 31, 2020, and (ii) obligations under contracts and commitments incurred in the ordinary course of business and not required under generally accepted accounting principles to be reflected in such financial statements, which, individually or   in the aggregate, are not material to the financial condition or operating results of KORE.

   

  f.Absence of Certain Changes. Since December 31, 2020, there has been no material adverse change and no material adverse development in the assets, liabilities, business, properties, operations, financial condition, results of operations or prospects of KORE or any of its Subsidiaries.

   

  g.Absence of Litigation. There is no action, suit, claim, proceeding, inquiry or investigation before or by any court, public board, government agency, self-regulatory organization or body pending or, to the knowledge of KORE or any of its Subsidiaries, threatened against or affecting KORE or any of its Subsidiaries, or their officers or directors in their capacity as such, that could have a Material Adverse Effect. KORE and its Subsidiaries are unaware of any facts or circumstances which might give rise to any of the foregoing.

   

  h.Intellectual Property. KORE and each of its Subsidiaries owns or possesses the requisite licenses or rights to use all patents, patent applications, patent rights, inventions, know-how, trade secrets, trademarks, trademark applications, service marks, service names, trade names and copyrights (“Intellectual Property”) necessary to enable it to conduct its business as now operated (and, as presently contemplated to be 

   

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  operated in the future); there is no claim or action by any person pertaining to, or proceeding pending, or to KORE’s knowledge threatened, which challenges the right of KORE or of a Subsidiary with respect to any Intellectual Property necessary to enable it to conduct its business as now operated (and, as presently contemplated to be operated in the future); to the best of KORE’s knowledge, KORE’s or its Subsidiaries’ current and intended products, services and processes do not infringe on any Intellectual Property or other rights held by any person; and KORE is unaware of any facts or circumstances which might give rise to any of the foregoing. KORE and each of its Subsidiaries have taken reasonable security measures to protect the secrecy, confidentiality and value of their Intellectual Property.

   

  i.No Materially Adverse Contracts, Etc. Neither KORE nor any of its Subsidiaries is subject to any charter, corporate or other legal restriction, or any judgment, decree, order, rule or regulation which in the judgment of KORE’s officers has or is expected in the future to have a Material Adverse Effect. Neither KORE nor any of its Subsidiaries is a party to any contract or agreement which in the judgment of KORE’s officers has or is expected to have a Material Adverse Effect.

   

  j.Tax Status. KORE and each of its Subsidiaries has made or filed all federal, state and foreign income and all other tax returns, reports and declarations required by any jurisdiction to which it is subject (unless and only to the extent that KORE and each of its Subsidiaries has set aside on its books provisions  reasonably adequate for the payment of all unpaid and unreported taxes) and has paid all taxes and other governmental assessments and charges that are material in amount, shown or determined to be due on such returns, reports and declarations, except those being contested in good faith and has set aside on its books provisions reasonably adequate for the payment of all taxes for periods subsequent to the periods to which such returns, reports or declarations apply. There are no unpaid taxes in any material amount claimed to be due by the taxing authority of any jurisdiction, and the officers of KORE know of no basis for any such claim. KORE has not executed a waiver with respect to the statute of limitations relating to the assessment or collection of any foreign, federal, state or local tax. None of KORE’s tax returns is presently being audited by any taxing authority.

   

  k.Transactions with Affiliates. Except for arm’s length transactions pursuant to which KORE or any of its Subsidiaries makes payments in the ordinary course of business upon terms no less favorable than KORE or any of its Subsidiaries could obtain from third parties and other than the grant of stock options, restricted share units or outstanding warrants to purchase Common Stock of KORE, none of the officers, directors, or employees of KORE is presently a party to any transaction with KORE or any of its Subsidiaries (other than for services as employees, officers and directors), including any contract, agreement or other arrangement providing for the furnishing of services to or by, providing for rental of real or personal property to or from, or otherwise requiring payments to or from any officer, director or such employee or, to the knowledge of KORE, any corporation, partnership, trust or other entity in which any officer, director, or any  such  employee  has  a  substantial interest or is an officer, director, trustee or partner, other than as set out in Schedule 3(k).

   

  l.Disclosure. All information relating to or concerning KORE or any of its Subsidiaries set forth in this Agreement and provided to Novonix pursuant to Section 2(d) hereof and otherwise in connection with the transactions contemplated hereby is true and correct in all material respects and KORE has not omitted to state any material fact necessary in order to make the statements made herein or therein, in light of the circumstances under which they were made, not misleading. 

   

  m.No Integrated Offering. Neither KORE, nor any of its affiliates, nor any person acting on its or their behalf, has directly or indirectly made any offers or sales in any security or solicited any offers to buy any security under circumstances that would require registration under the 1933 Act of the issuance of the KORE Shares to Novonix. The issuance of the KORE Shares to Novonix will not be integrated with any other issuance of KORE’s securities (past, current or future) for purposes of any shareholder approval provisions applicable to KORE or its securities.

   

  n.No Brokers; No Solicitation. KORE has taken no action which would give rise to any claim by any person for brokerage commissions, transaction fees or similar payments relating to this Agreement, or the transactions contemplated hereby.  KORE acknowledges and agrees that neither Novonix nor its employee(s), member(s), beneficial owner(s), or partner(s) solicited KORE to enter into this Agreement and consummate the transactions described in this Agreement.

   

  o.Permits Compliance. KORE and each of its Subsidiaries is in possession of all franchises, 

   

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  grants, authorizations, licenses, permits, easements, variances, exemptions, consents, certificates, approvals and orders necessary to own, lease and operate its properties and to carry on its business as it is now being conducted (collectively, the “KORE Permits”), and there is no action pending or, to the knowledge of KORE, threatened regarding suspension or cancellation of any of the KORE Permits. Neither KORE nor any of its Subsidiaries is in conflict with, or in default or violation of, any of KORE Permits, except for any such conflicts, defaults or violations which, individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect. Since December 31, 2020, neither KORE nor any of its Subsidiaries has received any notification with respect to possible conflicts, defaults or violations of applicable laws, except for notices relating to possible conflicts, defaults or violations, which conflicts, defaults or violations would not have a Material Adverse Effect.

   

  p. Environmental Matters.

   

  (i)There are, to KORE’s knowledge, with respect to KORE or any of its Subsidiaries or any predecessor of KORE, no past or present violations of Environmental Laws (as defined below), releases of any material into the environment, actions, activities, circumstances, conditions, events, incidents, or contractual obligations which may give rise to any common law environmental liability or any liability under the Comprehensive Environmental Response, Compensation and Liability Act of 1980 or similar federal, state, local or foreign laws and neither KORE nor any of its Subsidiaries has received any notice with respect to any of the foregoing, nor is any action pending or, to KORE’s knowledge, threatened in connection with any of the foregoing. The term ”Environmental Laws” means all federal, state, local or foreign laws relating to pollution or protection of human health or the environment (including, without limitation, ambient air, surface  water, groundwater, land surface or subsurface strata), including, without limitation, laws relating to emissions, discharges, releases or threatened releases of chemicals, pollutants contaminants,  or  toxic  or  hazardous  substances or wastes (collectively, “Hazardous Materials”) into the environment, or otherwise relating to the manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling of Hazardous Materials, as well as all authorizations, codes, decrees, demands or demand letters, injunctions,  judgments,  licenses, notices or notice letters, orders, permits, plans or regulations issued, entered, promulgated or approved thereunder.

   

  (ii)Other than those that are or were stored, used or disposed of in compliance with applicable law, no Hazardous Materials are contained on or about any real property currently owned, leased or used by KORE or any of its Subsidiaries, and no Hazardous Materials were released on or about any real property previously owned, leased or used by KORE or any of its Subsidiaries during the period the property was owned, leased or used by KORE or any of its Subsidiaries, except in the normal course of KORE’s or any of its Subsidiaries’ business.

   

  (iii)There are no underground storage tanks on or under any real property owned, leased or used by KORE or any of its Subsidiaries that are not in compliance with applicable law.

   

  q.Title to Property. KORE and its Subsidiaries have good and marketable title in fee simple to all real property and good and marketable title to all personal property owned by them which is material to the business of KORE and its Subsidiaries, in each case free and clear of all liens, encumbrances and defects except such as are described in Schedule 3(q), if attached hereto, or such as would not have a Material Adverse Effect. Any real property and facilities held under lease by KORE and its Subsidiaries are held by them under valid, subsisting and enforceable leases with such exceptions as would not have a Material Adverse Effect.

   

  r.Insurance. KORE and each of its Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as management of KORE believes to be prudent and customary in the businesses in which KORE and its Subsidiaries are engaged. Neither KORE nor any such Subsidiary has any reason to believe that it will not be able to renew   its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business at a cost that would not have a Material Adverse Effect. Upon written request KORE will provide to Novonix true and correct copies of all policies relating to directors’ and officers’ liability coverage, errors and omissions coverage, and commercial general liability coverage.

   

  s.Internal Accounting Controls. KORE and each of its Subsidiaries maintain a system of internal accounting controls sufficient, in the judgment of KORE’s board of directors, to provide reasonable assurance that (i) transactions are executed in accordance with management’s general or specific authorizations, (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted 

   

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  accounting principles and to maintain asset accountability, (iii) access to assets is permitted only in accordance with management’s general or specific authorization and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences.

   

  t.Foreign Corrupt Practices. Neither KORE, nor any of its Subsidiaries, nor any director, officer, agent, employee or other person acting on behalf of KORE or any Subsidiary has, in the course of his actions for, or on behalf of, KORE, used any corporate funds for any unlawful contribution, gift, entertainment or other unlawful expenses relating to political activity; made any direct or indirect unlawful payment to any foreign or domestic government official or employee from corporate funds; violated or is in violation of any provision of the U.S. Foreign Corrupt Practices Act of 1977, as amended, or made any bribe, rebate, payoff, influence payment, kickback or other unlawful payment to any foreign or domestic government official or  employee.

   

  u.Solvency. KORE (after giving effect to the transactions contemplated by this Agreement) is solvent (i.e., its assets have a fair market value in excess of the amount required to pay its probable liabilities on its existing debts as they become absolute and matured) and currently KORE has no information that would lead it to reasonably conclude that KORE would not, after giving effect to the transaction contemplated by this Agreement, have the ability to, nor does it intend to take any action that would impair its ability to, pay its debts from time to time incurred in connection therewith as such debts mature. KORE’s financial statements for its most recent fiscal year end and interim financial statements have been prepared assuming KORE will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business.

   

  v.No Investment Company. KORE is not, and upon the issuance and sale of the KORE Shares as contemplated by this Agreement will not be an “investment company” required to be registered under the Investment Company Act of 1940 (an “Investment Company”). KORE is not controlled by an Investment Company.

   

  w. No Off-Balance Sheet Arrangements. There is no transaction, arrangement, or other relationship between KORE or any of its Subsidiaries and an unconsolidated or other off balance sheet entity.

   

  x.  No Disqualification Events. None of KORE, any of its predecessors, any affiliated issuer, any director, executive officer, other officer of KORE participating in the offering hereunder, any beneficial owner of 20% or more of KORE’s outstanding voting equity securities, calculated on the basis of voting power, nor any promoter (as that term is defined in Rule 405 under the 1933 Act) connected with KORE in any capacity at the time of sale (each, an “Issuer Covered Person”) is subject to any of the “Bad Actor” disqualifications described in Rule 506(d)(1)(i) to (viii) under the 1933 Act (a “Disqualification Event”), except for a Disqualification Event covered by Rule 506(d)(2) or (d)(3). KORE has exercised reasonable care to determine whether any Issuer Covered Person is subject to a Disqualification Event.

   

  y. Bank Holding Company Act. Neither KORE nor any of its Subsidiaries is subject to the Bank Holding Company Act of 1956, as amended (the “BHCA”) and to regulation by the Board of Governors of the Federal Reserve System (the “Federal Reserve”). Neither KORE nor any of its Subsidiaries or affiliates owns or controls, directly or indirectly, five percent (5%) or more of the outstanding shares of any class of voting securities or twenty-five percent (25%) or more of the total equity of a bank or any entity that is subject to the BHCA and to regulation by the Federal Reserve. Neither KORE nor any of its Subsidiaries or affiliates exercises a controlling influence over the management or policies of a bank or any entity that is subject to the BHCA and to regulation by the Federal Reserve.

   

  aa. Illegal or Unauthorized Payments; Political Contributions. Neither KORE nor any of its Subsidiaries nor, to KORE’s knowledge, any of the officers, directors, employees, agents or other representatives of KORE or any of its Subsidiaries or any other business entity or enterprise with which KORE or any Subsidiary is or has been affiliated or associated, has, directly or indirectly, made or authorized any payment, contribution or gift of money, property, or services, whether or not in contravention of applicable law, (i) as a kickback or bribe to any person or (ii) to any political organization, or the holder of or any aspirant to any elective or appointive public office except for personal political contributions not involving the direct or indirect use of funds of KORE or any of its Subsidiaries.

   

  bb. Investment Purpose. KORE is acquiring the Novonix Shares for its own account and not with a present view towards the public sale or distribution thereof, except pursuant to sales registered or exempted from registration under the 1933 Act; provided, however, that by making the representations herein, KORE does not 

   

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  agree to hold any of the Novonix Shares for any minimum or other specific term and reserves the right to dispose of the Novonix Shares at any time in accordance with or pursuant to a registration statement or an exemption under the 1933 Act.

   

  cc. Accredited Investor Status. KORE is an “accredited investor” as that term is defined in Rule 501(a) of Regulation D (an “Accredited Investor”).  KORE understands and acknowledges that the Novonix Shares under this document are being offered to KORE in reliance on the sophisticated investor exemption under section 708(8) of the Corporations Act 2001 (Commonwealth of Australia) ("Corporations Act") and the sale offer exemption under section 708A of the Corporations Act.

   

  dd.  Reliance on Exemptions. KORE understands that the Novonix Shares are being issued and delivered to it in reliance upon specific exemptions from the registration requirements of the Australia and United States federal and state securities laws and that Novonix is relying upon the truth and accuracy of, and KORE’s compliance with, the representations, warranties, agreements, acknowledgments and understandings of KORE set forth herein in order to determine the availability of such exemptions and the eligibility of KORE to acquire the Novonix Shares.

   

  ee. Information. KORE and its advisors, if any, have been, furnished with all materials relating to the business, finances and operations of Novonix and materials relating to the issuance of the Novonix Shares which have been requested by KORE or its advisors. KORE and its advisors, if any, have been, afforded the opportunity to ask questions of Novonix regarding its business and affairs. Neither such inquiries nor any other due diligence investigation conducted by KORE or any of its advisors or representatives shall modify, amend or affect KORE’s right to rely on Novonix’s representations and warranties contained in Section 2 above.

   

  ff. Governmental Review. KORE understands that no United States federal or state agency or any other government or governmental agency has passed upon or made any recommendation or endorsement of the Novonix Shares.

   

  gg. Transfer or Re-sale. KORE understands that (i) the Novonix Shares have not been and are not being registered under the 1933 Act or any applicable state securities laws, and the Novonix Shares may not be transferred unless (a) the Novonix Shares are sold pursuant to an effective registration statement under the 1933 Act, (b) KORE shall have delivered to Novonix, at the cost of KORE, an opinion of counsel that shall be in form, substance and scope customary for opinions of counsel in comparable transactions and reasonably acceptable to Novonix to the effect that the Novonix Shares to be sold or transferred may be sold or transferred pursuant to an exemption from such registration under Rule 144 promulgated under the 1933 Act (or a successor rule) (“Rule 144”), pursuant to Regulation S under the 1933 Act (or a successor rule) (“Regulation S”), or other applicable exemption, or (c) the Novonix Shares are sold or transferred to an “affiliate” (as defined in Rule 144 ) of KORE who agrees to sell or otherwise transfer the Novonix Shares only in accordance with this Section 3(gg) and who is an Accredited Investor,; (ii) any sale of such Novonix Shares made in reliance on Rule 144 may be made only in accordance with the terms of said Rule and further, if said Rule is not applicable, any re-sale of such Novonix Shares under circumstances in which the seller (or the person through whom the sale is made) may be deemed to be an underwriter (as that term is defined in the 1933 Act) may require compliance with some other exemption under the 1933 Act or the rules and regulations of the SEC thereunder; (iii) neither Novonix nor any other person is under any obligation to register such Novonix Shares under the 1933 Act or any state securities laws or to comply with the terms and conditions of any exemption thereunder (in each case), and (iv) to the extent applicable, in the event the Novonix Shares are in the future issued in certificated form, may bear a restrictive legend in substantially the form (and a stop-transfer order may be placed against transfer of such Novonix Shares) as set forth in Section 2(g) above with respect to the KORE Shares.. Notwithstanding the foregoing, or anything else contained herein to the contrary, the Novonix Shares may be pledged or otherwise form part of the encumbered collateral provided by KORE in ‎connection with an arrangement secured by the assets of KORE, and such ‎pledge of Novonix Shares, or encumbrance in respect of the Novonix Shares, shall not be deemed to be a transfer, sale or assignment of the Novonix Shares hereunder, ‎and KORE in effecting such pledge or encumbrance shall be not required to provide Novonix with any notice ‎thereof or otherwise make any delivery to Novonix pursuant to this Agreement or otherwise.‎

   

  hh. Restricted Period. KORE agrees that the Novonix Shares will be held on the Novonix's Issuer Sponsored Subregister or CHESS Subregister (at the Novonix's absolute discretion) and agrees to the application of a Holding Lock (as that term is defined in the ASX Listing Rules) on the Novonix Shares during the until such time as the Novonix Shares have been registered under the 1933 Act or may otherwise be sold in the US. 

   

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  ii. Australian Foreign Investment Approval. KORE is not a 'foreign government investor' (as defined in the Foreign Acquisitions and Takeovers Act 1975 (Commonwealth of Australia) ("FATA") or an 'associate' (as defined in the FATA) of a 'foreign government investor'. 

   

  jj. Sophisticated or Professional Investor. KORE is a Sophisticated or Professional Investor, being an investor to whom offers of securities can be made under section 708 of the Corporations Act. 

  	 

  4.ADDITIONAL COVENANTS, AGREEMENTS AND ACKNOWLEDGEMENTS.

   

  a.Best Efforts. The parties shall use their commercially reasonable best efforts to satisfy timely each of the conditions described in Section 5 and 6 of this Agreement.

   

  b.KORE Form D; Blue Sky Laws. KORE agrees to file a Form D with respect to the KORE Shares if required under Regulation D and to provide a copy thereof to Novonix promptly after such filing. KORE shall, on or before the Closing Date, take such action as KORE shall reasonably determine is necessary to qualify the KORE Shares for sale to Novonix at the applicable closing pursuant to this Agreement under applicable securities or “blue sky” laws of the states of the United States (or to obtain an exemption from such qualification), and shall provide evidence of any such action so taken to Novonix on or prior to the Closing Date.

   

  c.Novonix Form D; Blue Sky Laws. Novonix agrees to file a Form D with respect to the Novonix Shares if required under Regulation D and to provide a copy thereof to KORE promptly after such filing. Novonix shall, on or before the Closing Date, take such action as Novonix shall reasonably determine is necessary to qualify the Novonix Shares for issuance and delivery to KORE at the applicable closing pursuant to this Agreement under applicable securities or “blue sky” laws of the states of the United States (or to obtain an exemption from such qualification), and shall provide evidence of any such action so taken to KORE on or prior to the Closing Date.

   

  d.Use of Proceeds. KORE shall use the cash proceeds for engineering and pre-construction costs related to its proposed Buckeye, Arizona manufacturing facility as well as for general corporate purposes, and not for the repayment of any indebtedness owed to officers, directors or employees of KORE or their affiliates or in violation or contravention of any applicable law, rule or regulation.

   

  5.Conditions to KORE’s Obligation to Sell. The obligation of KORE hereunder to issue and sell the KORE Shares to Novonix at the Closing is subject to the satisfaction, at or before the Closing Date, of each of the following conditions thereto, provided that these conditions are for KORE’s sole benefit and may be waived by KORE at any time in its sole discretion:

   

  a.Novonix shall have executed this Agreement and delivered the same to KORE.

   

  b.Novonix shall have delivered the Purchase Price in accordance with Section 1(b)

  above.

   

  c.Novonix shall have executed a shareholders rights agreement (the “Shareholders Rights Agreement”) in form and substance satisfactory to KORE and delivered the same to KORE.

    

  d.The representations and warranties of Novonix shall be true and correct in all material respects as of the date when made and as of the Closing Date, as though made at that time (except for representations and warranties that speak as of a specific date), and Novonix shall have performed, satisfied and complied in all material respects with the covenants, agreements and conditions required by this Agreement to be performed, satisfied or complied with by Novonix at or prior to the Closing Date.

   

  e.No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having authority over the matters contemplated hereby which prohibits the consummation of any of the transactions contemplated by this Agreement.

   

  f.No event shall have occurred which could reasonably be expected to have a Material 

   

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  Adverse Effect on Novonix.

   

  g.Novonix shall have delivered to KORE a certified copy of resolutions adopted by Novonix’s Board of Directors at a duly called meeting or by unanimous written consent authorizing this Agreement and all other documents, instruments and transactions contemplated hereby. 

   

  6.Conditions to Novonix’s Obligation to Purchase. The obligation of Novonix hereunder to purchase the KORE Shares, on the Closing Date, is subject to the satisfaction, at or before the Closing Date, of each of the following conditions, provided that these conditions are for Novonix’s sole benefit and may be waived by Novonix at any time in its sole discretion:

   

  a.KORE shall have executed this Agreement and delivered the same to Novonix.

   

  b.KORE shall have delivered the KORE Shares to Novonix.

   

  c.KORE shall have executed the Shareholders Rights Agreement in form and substance satisfactory to Novonix and shall have delivered same to Novonix.

    

  d.KORE shall have executed a supply agreement in form and substance satisfactory to Novonix and KORE and delivered the same to Novonix.

   

  e.The representations and warranties of KORE shall be true and correct in all material respects as of the date when made and as of Closing Date, as though made at such time (except for representations and warranties that speak as of a specific date) and KORE shall have performed, satisfied and complied in all material respects with the covenants, agreements and conditions required by this Agreement to be performed, satisfied or complied with by KORE at or prior to the Closing Date.

   

  f.No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having authority over the matters contemplated hereby which prohibits the consummation of any of the transactions contemplated by this Agreement.

   

  g.No event shall have occurred which could reasonably be expected to have a Material Adverse Effect on KORE.

   

  h.KORE shall have delivered to Novonix (i) a certificate evidencing the formation and good standing of KORE and each of its Subsidiaries in such entity’s jurisdiction of formation issued by the Secretary of State (or comparable office) of such jurisdiction, as of a date within ten (10) days of the Closing Date and (ii) a certified copy of resolutions adopted by KORE’s Board of Directors at a duly called meeting or by unanimous written consent authorizing this Agreement and all other documents, instruments and transactions contemplated hereby.

   

  7.Governing Law; Miscellaneous.

   

  a.Governing Law; Venue. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware without regard to principles of conflicts of laws. Any action brought by either party against the other concerning the transactions contemplated by this Agreement, or any other agreement, certificate, instrument or document contemplated hereby shall be brought only in the state courts located in Delaware or in the federal courts located in Delaware. The parties to this Agreement hereby irrevocably waive any objection to jurisdiction and venue of any action instituted hereunder and shall not assert any defense based on lack of jurisdiction or venue or based upon forum non conveniens. 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 TRANSACTIONS CONTEMPLATED HEREBY. The prevailing party shall be entitled to recover from the other party its reasonable attorney’s fees and costs. Each party hereby irrevocably waives personal service of process and consents to process being served in any suit, action or proceeding in connection with this Agreement, or any other agreement, certificate, instrument or document contemplated hereby or thereby by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the 

   

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  address in effect for 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 other manner permitted by law.

   

  b.Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original but all of which shall constitute one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party. A facsimile or .pdf signature shall be considered due execution and shall be binding upon the signatory thereto with the same force and effect as if the signature were an original, not a facsimile or .pdf signature. Delivery of a counterpart signature hereto by facsimile or email/.pdf transmission shall be deemed validly delivery thereof.

   

  c.Construction; Headings. This Agreement shall be deemed to be jointly drafted by KORE and Novonix and shall not be construed against any person as the drafter hereof. The headings of this Agreement are for convenience of reference only and shall not form part of, or affect the interpretation of, this Agreement.

   

  d.Severability. In the event that any provision of this Agreement, or any other agreement or instrument delivered in connection herewith is invalid or unenforceable under any applicable statute or rule of law, then such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform with such statute or rule of law. Any such provision which may prove invalid or unenforceable under any law shall not affect the validity or enforceability of any other provision of this Agreement, or any other agreement, certificate, instrument or document contemplated hereby or thereby.

   

  e.Entire Agreement; Amendments. This Agreement, and the instruments referenced herein contain the entire understanding of the parties with respect to the matters covered herein and therein and, except as specifically set forth herein or therein, neither KORE nor Novonix makes any representation, warranty, covenant or undertaking with respect to such matters. No provision of this Agreement or any agreement or instrument contemplated hereby may be waived or amended other than by an instrument in writing signed by Novonix.

   

  f.Notices. All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall be in writing and, unless otherwise specified herein, shall be

  (i) personally served, or (ii)  delivered by reputable overnight courier service with charges prepaid, addressed as set forth below or to such other address as such party shall have specified most recently by written notice. Any notice or other communication required or permitted to be given hereunder shall be deemed effective (a) upon hand delivery, or (b) on the second business day following the date of mailing by overnight courier service, fully prepaid, addressed to such address. The addresses for such communications shall be:

   

  If to KORE, to:

   

  KORE POWER, INC.

  1875 N. Lakewood Drive, Suite 200

  Coeur d’Alene, ID. 83814

  Attention: Lindsay Gorrill

  e-mail: lgorrill@korepower.com

   

  with a copy to:

   

  DLA Piper (Canada) LLP

  Attention: Daniel Kenney

  1000, 250-2nd Street S.W.

  Calgary, Alberta, Canada T2P OC1 

   

   

  If to Novonix, to:

   

  NOVONIX Limited

  177 Bluewater Road, Bedford

  Nova Scotia, Canada, B4B 1H1 

   

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  Attention:  Dr. Chris Burns 

   

  with a copy to:

   

  NOVONIX Limited

  c/o Rashda Buttar

  44 Broadview Drive

  St. Louis, Missouri 63105 USA

   

  g.Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and assigns. Neither KORE nor Novonix shall assign this Agreement or any rights or obligations hereunder without the prior written consent of the other.

   

  h.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.

   

  i.Survival. The representations and warranties of KORE and the agreements and covenants set forth in this Agreement shall survive the closing hereunder notwithstanding any due diligence investigation conducted by or on behalf of Novonix. 

   

  j.Publicity. KORE and Novonix shall have the right to review a reasonable period of time before issuance of any press releases or any other public statements with respect to the transactions contemplated hereby; provided, however, that Novonix shall be entitled, without the prior approval of KORE, to make any press release with respect to such transactions as is required by applicable law and regulations (although to the extent practicable KORE shall be consulted by Novonix in connection with any such press release prior to its release and shall be provided with a copy thereof and be given an opportunity to comment thereon).

   

  k.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.

   

  l.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.

   

  m.Indemnification. In consideration of Novonix’s execution and delivery of this Agreement and acquiring the KORE Shares hereunder, and in addition to all of KORE’s other obligations under this Agreement, KORE shall defend, protect, indemnify and hold harmless Novonix and its stockholders, partners, members, officers, directors, employees and direct or indirect investors and any of the foregoing persons’ agents or other representatives (including, without limitation, those retained in connection with the transactions contemplated by this Agreement) (collectively, the “Novonix Indemnitees”) from and against any and all actions, causes of action, suits, claims, losses, costs, penalties, fees, liabilities and damages, and expenses in connection therewith (irrespective of whether any such Novonix Indemnitee is a party to the action for which indemnification hereunder is sought), and including reasonable attorneys’ fees and disbursements (the “Novonix Indemnified Liabilities”), incurred by any Novonix Indemnitee as a result of, or arising out of, or relating to (a) any misrepresentation or breach of any representation or warranty made by KORE in this Agreement or any other agreement, certificate, instrument or document contemplated hereby or thereby, (b) any breach of any covenant, agreement or obligation of KORE contained in this Agreement, or any other agreement, certificate, instrument or document contemplated hereby or thereby or (c) any cause of action, suit or claim brought or made against such Novonix Indemnitee by a third party (including for these purposes a derivative action brought on behalf of KORE) and arising out of or resulting from (i) the execution, delivery, performance or enforcement of this Agreement or any other agreement, certificate, instrument or document contemplated hereby or thereby, (ii) any transaction financed or to be financed in whole or in part, directly or indirectly, with the proceeds of the issuance of the KORE Shares, or (iii) the status of Novonix or holder of the KORE Shares as an investor in KORE pursuant to the transactions contemplated by this Agreement. To the extent that the foregoing undertaking by KORE 

   

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  may be unenforceable for any reason, KORE shall make the maximum contribution to the payment and satisfaction of each of the Novonix Indemnified Liabilities that is permissible under applicable law.

   

   

  n.Payment Set Aside. To the extent that any party makes a payment or payments to the other party hereunder or under any other agreement, certificate, instrument or document contemplated hereby or thereby, or such party enforces or exercises its rights hereunder or thereunder, and such payment or payments or the proceeds of such enforcement or exercise or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, recovered from, disgorged by or are required to be refunded, repaid or otherwise restored to the paying party, or a trustee, receiver or any other person or entity under any law (including, without limitation, any bankruptcy law, foreign, state or federal law, common law or equitable cause of action), then to the extent of any such restoration the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such enforcement or setoff had not occurred.

   

  o.Failure or Indulgence Not Waiver. No failure or delay on the part of Novonix in the exercise of any power, right or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege preclude other or further exercise thereof or of any other right, power or privileges. All rights and remedies of Novonix existing hereunder are cumulative to, and not exclusive of, any rights or remedies otherwise available.

   

   

  [Signature Page Follows]

   

   

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  Exhibit 4.10

  EXECUTION COP|Y

  IN WITNESS WHEREOF, the undersigned Novonix and KORE have caused this Agreement to be duly executed as of the date first above written.

   

  KORE POWER, INC.

   

   

   

  	
	By:_________________________________

	Name: LINDSAY E. GORRILL

	Title: CHIEF EXECUTIVE OFFICER

   

   

  NOVONIX

   

   

   

  	
	By: _________________________________

	Name: Robert Natter

	Title: Chairman of Board

	 
 
    By: ______________________________

	Name: Suzanne Yeats

	Title: Corporate SecretaryEX-4.11

  Exhibit 4.11

  Execution Copy

   

  INVESTORS’ RIGHTS AGREEMENT

   

  THIS INVESTORS’ RIGHTS AGREEMENT (this “Agreement”), is made as of the 31st day of January, 2022 by and among KORE POWER, INC., a Nevada corporation (the “Company”) and NOVONIX LIMITED, a corporation incorporated in Australia under the Corporations Act, 2001 (cth) (the “Investor”).

   

  RECITALS

   

  WHEREAS, the Company and the Investor have entered into that certain Securities Purchase Agreement of even date herewith (the “Purchase Agreement”), which provides for among other things, the purchase by the Investor of shares (the “Shares”) of Company Common Stock, par value $0.001 per share (the “Common Stock”);

   

  WHEREAS, in order to induce the Company to enter into the Purchase Agreement and to induce the Investor to invest funds in the Company pursuant to the Purchase Agreement, the Investor and the Company desire to enter into this Agreement.

   

  NOW, THEREFORE, the parties hereby agree as follows:

   

  1.Definitions. For purposes of this Agreement:

   

  1.1“Affiliate” means, with respect to any specified Person, any other Person who, directly or indirectly, controls, is controlled by, or is under common control with such Person, including without limitation any general partner (or member thereof), managing member, officer, director or trustee of such Person; provided, however, that solely for the purposes of this Agreement, notwithstanding anything to the contrary set forth herein, neither the Company nor any of its controlled Affiliates shall be deemed an Affiliate of Investor by virtue of the beneficial ownership by Investor the Registrable Securities or other shares of the Company’s Common Stock.

   

  1.2“Articles of Incorporation” means the Company’s Articles of Incorporation, as amended and/or restated from time to time.

   

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

   

  1.4“Common Stock” has the meaning set forth in the recitals.

   

  1.5“Damages” means any loss, damage, claim or liability (joint or several) to which a party hereto may become subject under the Securities Act, the Exchange Act, or other federal or state law, insofar as such loss, damage, claim or liability (or any action in respect thereof) arises out of or is based upon: (i) any untrue statement or alleged untrue statement of a material fact contained in any registration statement of the Company, including any preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto; (ii) an omission or alleged omission to state therein a material fact required to be stated therein, or necessary to make the statements therein not misleading; or (iii) any violation or alleged violation by the indemnifying party (or any of its agents or Affiliates) of the Securities Act, the Exchange Act, any

   

   

  

   

  1

   

   

  

   

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  state securities law, or any rule or regulation promulgated under the Securities Act, the Exchange Act, or any state securities law.

   

  1.6“Direct Listing” means the Company’s initial listing of its Common Stock by means of a registration statement on Form S-1 filed by the Company with the SEC that registers shares of existing capital stock of the Company for resale. For the avoidance of doubt, a Direct Listing shall not be deemed to be an underwritten offering and shall not involve any underwriting services. Any and all mentions of an underwritten offering or underwriters contained herein shall not apply to a Direct Listing.

   

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

   

  1.8“Excluded Registration” means (i) a registration on Form S-8 or otherwise relating to the sale or grant of securities to employees of the Company or a subsidiary pursuant to a stock option, stock purchase, equity incentive or similar plan; (ii) a registration relating to an SEC Rule 145 transaction; (iii) a registration on any form that does not include substantially the same information as would be required to be included in a registration statement covering the sale of the Registrable Securities; or (iv) a registration in which the only Common Stock being registered is Common Stock issuable upon conversion of debt securities that are also being registered.

   

  1.9“Form S-1” means such form under the Securities Act as in effect on the date hereof or any successor registration form under the Securities Act subsequently adopted by the SEC.

   

  1.10“Form S-3” means such form under the Securities Act as in effect on the date hereof or any registration form under the Securities Act subsequently adopted by the SEC that permits forward incorporation of substantial information by reference to other documents filed by the Company with the SEC.

   

  1.11“Form S-8” means such form under the Securities Act as in effect on the date hereof or any successor registration form under the Securities Act subsequently adopted by the SEC.

   

  1.12“GAAP” means generally accepted accounting principles in the United States as in effect from time to time.

   

  1.13“Holder” means Investor and any Person who acquires any of the Shares to which the applicable rights under this Agreement apply pursuant to Section 6.1.

   

  1.14“IPO” means, only if a Direct Listing has not occurred, the Company’s first underwritten public offering of its Common Stock under the Securities Act.

   

  1.15“New Securities” means, collectively, equity securities of the Company, 

   

  2

  

   

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  whether or not currently authorized, as well as rights, options, or warrants to purchase such equity securities, or securities of any type whatsoever that are, or may become, convertible or exchangeable into or exercisable for such equity securities.

   

   

  3

  

   

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  1.16“Person” means any individual, corporation, partnership, trust, limited liability company, association or other entity.

   

  “Purchase Agreement” has the meaning set forth in the recitals.

   

  1.17“Registrable Securities” means (i) the Shares, (ii) any shares of Common Stock, or any Common Stock issued or issuable (directly or indirectly) upon conversion and/or exercise of any other securities of the Company, acquired by Investor after the date hereof and (iii) any shares of Common Stock issued as (or issuable upon the conversion or exercise of any warrant, right, or other security that is issued as) a dividend or other distribution with respect to, or in exchange for or in replacement of, the Shares. As to any particular Registrable Securities, once issued such securities shall cease to be Registrable Securities when (A) a registration statement with respect to the sale of such securities shall have become effective under the Securities Act and such securities shall have been disposed of in accordance with such registration statement, (B) such securities shall have been sold in reliance upon Rule 144 under the Securities Act, (C) such securities shall have been sold by a Person in a transaction in which the applicable rights under this Agreement are not assigned pursuant to Section 6.1, (D) registration rights for such securities have terminated pursuant to this Agreement or (E) such securities shall have ceased to be outstanding..

   

  1.18“Registrable Securities then outstanding” means the number of shares determined by adding the number of shares of outstanding Common Stock that are Registrable Securities and the number of shares of Common Stock issuable (directly or indirectly) pursuant to then exercisable and/or convertible securities that are Registrable Securities.

   

  1.19“SEC” means the Securities and Exchange Commission.

   

  1.20“SEC Rule 144” means Rule 144 promulgated by the SEC under the

   

   

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  Securities Act. Securities Act.

  

   

  5

  

   

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  1.21“SEC Rule 145” means Rule 145 promulgated by the SEC under the

   

  1.22“Securities Act” means the Securities Act of 1933, as amended, and the

   

   

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  rules and regulations promulgated thereunder.

   

  1.23“Selling Expenses” means all underwriting discounts, selling commissions, and stock transfer taxes applicable to the sale of Registrable Securities, and fees and disbursements of counsel for the Investor, except for the fees and disbursements of the Investor Counsel borne and paid by the Company as provided in Section 2.5.

   

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

   

  2.Registration Rights. The Company covenants and agrees as follows:

   

  2.1Company Registration. If the Company proposes to register (including for this purpose in a Direct Listing involving the registration of securities held by shareholders of the Company other than the Investor under the Securities Act in connection with the public offering

   

   

  7

  

   

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  of such securities solely for cash or, in the case of a Direct Listing, the registration of shares for sale on a national securities exchange (other than in an Excluded Registration), the Company shall, at such time, promptly give the Investor notice of such registration. Upon the request of the Investor given within 20 days after such notice is given by the Company, the Company shall, subject to the provisions of Section 2.2, cause to be registered all of the Registrable Securities that the Investor has requested to be included in such registration. The Company shall have the right to terminate or withdraw any registration initiated by it under this Section 2.1 before the effective date of such registration, whether or not the Investor has elected to include Registrable Securities in such registration. The expenses (other than Selling Expenses) of such withdrawn registration shall be borne by the Company in accordance with Section 2.5.

   

  2.2Underwriting Requirements.

   

  (a)If, pursuant to Section 2.1, the Company intends to distribute the Registrable Securities covered by the request of Investor by means of an underwriting, they shall so advise the Investor upon receipt of the request made pursuant to Section 2.1. The underwriter(s) will be selected by the Company and shall be reasonably acceptable to the Investor. In such event, the right of the Investor to include the Investor’s Registrable Securities in such registration shall be conditioned upon the Investor’s participation in such underwriting and the inclusion of the Investor’s Registrable Securities in the underwriting to the extent provided herein. The Investor, proposing to distribute their securities through such underwriting, shall (together with the Company as provided in Section 2.4(e)) enter into an underwriting agreement in customary form with the underwriter(s) selected for such underwriting; provided, however, that Investor (and its assignees) shall not be required to make any representations, warranties or indemnities except as they relate to such Holder’s ownership of shares and authority to enter into the underwriting agreement and to such Holder’s intended method of distribution, and the liability of such Holder shall be several and not joint, and limited to an amount equal to the net proceeds from the offering received by such Holder. Notwithstanding any other provision of this Section 2.2, if the underwriter(s) advise(s) Investor in writing that marketing factors require a limitation on the number of shares to be underwritten, then the Investor shall so advise all Holders of Registrable Securities that otherwise would be underwritten pursuant hereto, and the number of Registrable Securities that may be included in the underwriting shall be allocated among such Holders of Registrable Securities, including the Investor, in proportion (as nearly as practicable) to the number of Registrable Securities owned by each Holder or in such other proportion as shall mutually be agreed to by all such selling Holders; provided, however, that the number of Registrable Securities held by the Holders to be included in such underwriting shall not be reduced unless all other securities are first entirely excluded from the underwriting. To facilitate the allocation of shares in accordance with the above provisions, the Company or the underwriters may round the number of shares allocated to any Holder to the nearest one hundred (100) shares.

   

  (b)In connection with any offering involving an underwriting of shares of the Company’s capital stock pursuant to Section 2.1, the Company shall not be required to include any of the Holders’ Registrable Securities in such underwriting unless the Holders accept the terms of the underwriting as agreed upon between the Company and its underwriters, and then only in such quantity as the underwriters in their sole discretion determine will not jeopardize the success of 

   

  8

  

   

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  the offering by the Company. If the total number of securities, including Registrable Securities, requested by stockholders to be included in such offering exceeds the number of securities to be

   

   

  9

  

   

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  sold (other than by the Company) that the underwriters in their reasonable discretion determine is compatible with the success of the offering, then the Company shall be required to include in the offering only that number of such securities, including Registrable Securities, which the underwriters and the Company in their sole discretion determine will not jeopardize the success of the offering. If the underwriters determine that less than all of the Registrable Securities requested to be registered can be included in such offering, then the Registrable Securities that are included in such offering shall be allocated among the selling Holders in proportion (as nearly as practicable) to the number of Registrable Securities owned by each selling Holder or in such other proportions as shall mutually be agreed to by all such selling Holders. To facilitate the allocation of shares in accordance with the above provisions, the Company or the underwriters may round the number of shares allocated to any Holder to the nearest one hundred (100) shares. Notwithstanding the foregoing, in no event shall (i) the number of Registrable Securities included in the offering be reduced unless all other securities (other than securities to be sold by the Company) are first entirely excluded from the offering, or (ii) the number of Registrable Securities included in the offering be reduced below twenty percent (20%) of the total number of securities included in such offering, unless such offering is the IPO, in which case the selling Holders may be excluded further if the underwriters make the determination described above and no other stockholder’s securities are included in such offering. For purposes of the provision in this Section 2.2(b) concerning apportionment, for any selling Holder that is a partnership, limited liability company, or corporation, the partners, members, retired partners, retired members, stockholders, and Affiliates of such Holder, or the estates and Immediate Family Members of any such partners, retired partners, members, and retired members and any trusts for the benefit of any of the foregoing Persons, shall be deemed to be a single “selling Holder,” and any pro rata reduction with respect to such “selling Holder” shall be based upon the aggregate number of Registrable Securities owned by all Persons included in such “selling Holder,” as defined in this sentence.

   

  (c)For purposes of Section2.1, a registration shall not be counted as “effected” if, as a result of an exercise of the underwriter’s cutback provisions in Section 2.2(a), fewer than fifty percent (50%) of the total number of Registrable Securities that Holders have requested to be included in such registration statement are actually included.

   

  2.3Obligations of the Company. Whenever required under this Section 2 to effect the registration of any Registrable Securities, the Company shall, as expeditiously as reasonably possible:

   

  (a)prepare and file with the SEC a registration statement with respect to such Registrable Securities and use its commercially reasonable efforts to cause such registration statement to become effective and keep such registration statement effective for a period of up to one hundred twenty (120) days or, if earlier, until the distribution contemplated in the registration statement has been completed; provided, however, that (i) such one hundred twenty

  (120) day period shall be extended for a period of time equal to the period the Investor refrains, at the request of an underwriter of Common Stock (or other securities) of the Company, from selling any securities included in such registration and (ii) in the case of any registration of Registrable Securities on Form S-3 that are intended to be offered on a continuous or delayed basis, subject to compliance with applicable SEC rules, such one hundred twenty (120) day period shall be 

   

  10

  

   

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  extended for up to sixty (60) days, if necessary, to keep the registration statement effective until all such Registrable Securities are sold;

   

   

  11

  

   

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  (b)prepare and file with the SEC such amendments and supplements to such registration statement, and the prospectus used in connection with such registration statement, as may be necessary to comply with the Securities Act in order to enable the disposition of all securities covered by such registration statement;

   

  (c)furnish to the Investor such numbers of copies of a prospectus, including a preliminary prospectus, as required by the Securities Act, and such other documents as the Investor may reasonably request in order to facilitate its disposition of its Registrable Securities;

   

  (d)use its commercially reasonable efforts to register and qualify the securities covered by such registration statement under such other securities or blue sky laws of such jurisdictions as shall be reasonably requested by the Investor; provided that the Company shall not be required to qualify to do business or to file a general consent to service of process in any such states or jurisdictions, unless the Company is already subject to service in such jurisdiction and except as may be required by the Securities Act;

   

  (e)in the event of any underwritten public offering, enter into and perform its obligations under an underwriting agreement, in usual and customary form, with the underwriter(s) of such offering;

   

  (f)use its commercially reasonable efforts to cause all such Registrable Securities covered by such registration statement to be listed on a national securities exchange or trading system and each securities exchange and trading system (if any) on which similar securities issued by the Company are then listed;

   

  (g)provide a transfer agent and registrar for all Registrable Securities registered pursuant to this Agreement and provide a CUSIP number for all such Registrable Securities, in each case not later than the effective date of such registration;

   

  (h)promptly make available for inspection by the Investor, any managing underwriter(s) participating in any disposition pursuant to such registration statement, and any attorney or accountant or other agent retained by any such underwriter or selected by the Investor, all financial and other records, pertinent corporate documents, and properties of the Company, and cause the Company’s officers, directors, employees, and independent accountants to supply all information reasonably requested by any such seller, underwriter, attorney, accountant, or agent, in each case, as necessary or advisable to verify the accuracy of the information in such registration statement and to conduct appropriate due diligence in connection therewith;

   

  (i)notify the Investor, promptly after the Company receives notice thereof, of the time when such registration statement has been declared effective or a supplement to any prospectus forming a part of such registration statement has been filed; and

   

  (j)after such registration statement becomes effective, notify the 

   

  12

  

   

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  Investor of any request by the SEC that the Company amend or supplement such registration statement or prospectus.

   

   

  13

  

   

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  In addition, the Company shall ensure that, at all times after any registration statement covering a public offering of securities of the Company under the Securities Act shall have become effective, its insider trading policy shall provide that the Company’s directors may implement a trading program under Rule 10b5-1 of the Exchange Act.

   

  2.4Furnish Information. It shall be a condition precedent to the obligations of the Company to take any action pursuant to this Section 2 with respect to the Registrable Securities of the Investor that the Investor shall furnish to the Company such information regarding itself, the Registrable Securities held by it, and the intended method of disposition of such securities as is reasonably required to effect the registration of the Investor’s Registrable Securities.

   

  2.5Expenses of Registration. All expenses (other than Selling Expenses) incurred in connection with registrations, filings, or qualifications pursuant to Section 2 and all expenses incurred by the Company in connection with a Direct Listing, including all registration, filing, and qualification fees; printers’ and accounting fees; fees and disbursements of counsel for the Company; and the reasonable fees and disbursements, not to exceed $50,000, of one counsel for the Investor (“Investor Counsel”), shall be borne and paid by the Company. All Selling Expenses relating to Registrable Securities registered pursuant to this Section 2 shall be borne and paid by the Investor pro rata on the basis of the number of Registrable Securities registered on its behalf.

   

  2.6Delay of Registration. The Investor shall not have any right to obtain or seek an injunction restraining or otherwise delaying any registration pursuant to this Agreement as the result of any controversy that might arise with respect to the interpretation or implementation of this Section 2.

   

  2.7Indemnification. If any Registrable Securities are included in a registration statement under this Section 2 or in connection with a Direct Listing:

   

  (a)To the extent permitted by law, the Company will indemnify and hold harmless the Investor, and the partners, members, officers, directors, and stockholders of Investor; legal counsel and accountants for the Investor; any underwriter (as defined in the Securities Act) for the Investor; and each Person, if any, who controls the Investor or underwriter within the meaning of the Securities Act or the Exchange Act, against any Damages, and the Company will pay to the Investor, underwriter, controlling Person, or other aforementioned Person any legal or other expenses reasonably incurred thereby in connection with investigating or defending any claim or proceeding from which Damages may result, as such expenses are incurred; provided, however, that the indemnity agreement contained in this Section 2.7(a) shall not apply to amounts paid in settlement of any such claim or proceeding if such settlement is effected without the consent of the Company, which consent shall not be unreasonably withheld, nor shall the Company be liable for any Damages or expenses to the extent that they arise out of or are based upon actions or omissions made in reliance upon and in conformity with written information furnished by or on behalf of the Investor, underwriter, controlling Person, or other aforementioned Person expressly for use in connection with such registration.

   

  (b)To the extent permitted by law, the Investor will indemnify and hold 

   

  14

  

   

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  harmless the Company, and each of its directors, each of its officers who has signed the registration

   

   

  15

  

   

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  statement, each Person (if any), who controls the Company within the meaning of the Securities Act, legal counsel and accountants for the Company, and any underwriter (as defined in the Securities Act), against any Damages, in each case only to the extent that such Damages arise out of or are based upon actions or omissions made in reliance upon and in conformity with written information furnished by or on behalf of the Company expressly for use in connection with such registration; provided, however, that the indemnity agreement contained in this Section 2.7(b) shall not apply to amounts paid in settlement of any such claim or proceeding if such settlement is effected without the consent of the Investor, which consent shall not be unreasonably withheld; and provided further that in no event shall the aggregate amounts payable by Investor by way of indemnity or contribution under Section 2.7(b) and 2.7(d) exceed the proceeds from the offering received by the Investor (net of any Selling Expenses paid by the Investor), except in the case of fraud or willful misconduct by the Investor.

   

  (c)Promptly after receipt by an indemnified party under this Section 2.7 of notice of the commencement of any action (including any governmental action) for which a party may be entitled to indemnification hereunder, such indemnified party will, if a claim in respect thereof is to be made against any indemnifying party under this Section 2.7, give the indemnifying party notice of the commencement thereof. The indemnifying party shall have the right to participate in such action and, to the extent the indemnifying party so desires, participate jointly with any other indemnifying party to which notice has been given, and to assume the defense thereof with counsel mutually satisfactory to the parties; provided, however, that an indemnified party (together with all other indemnified parties that may be represented without conflict by one counsel) shall have the right to retain one separate counsel, with the fees and expenses to be paid by the indemnifying party, if representation of such indemnified party by the counsel retained by the indemnifying party would be inappropriate due to actual or potential differing interests between such indemnified party and any other party represented by such counsel in such action. The failure to give notice to the indemnifying party within a reasonable time of the commencement of any such action shall relieve such indemnifying party of any liability to the indemnified party under this Section 2.7, to the extent that such failure materially prejudices the indemnifying party’s ability to defend such action. The failure to give notice to the indemnifying party will not relieve it of any liability that it may have to any indemnified party otherwise than under this Section 2.7.

   

  (d)To provide for just and equitable contribution to joint liability under the Securities Act in any case in which either: (i) any party otherwise entitled to indemnification hereunder makes a claim for indemnification pursuant to this Section 2.7 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case, notwithstanding the fact that this Section 2.7 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of any party hereto for which indemnification is provided under this Section 2.7, then, and in each such case, such parties will contribute to the aggregate losses, claims, damages, liabilities, or expenses to which they may be subject (after contribution from others) in such proportion as is appropriate to reflect the relative fault of each of the indemnifying party and the indemnified party in connection with the statements, omissions, or other actions that resulted in such loss, claim, 

   

  16

  

   

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  damage, liability, or expense, as well as to reflect any other relevant equitable considerations. The relative fault of the indemnifying party and of the indemnified party shall be determined by

   

   

  17

  

   

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  reference to, among other things, whether the untrue or allegedly untrue statement of a material fact, or the omission or alleged omission of a material fact, relates to information supplied by the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such statement or omission; provided, however, that, in any such case (x) no Holder will be required to contribute any amount in excess of the public offering price of all such Registrable Securities offered and sold by such Holder pursuant to such registration statement, and (y) no Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) will be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation; and provided further that in no event shall the Investor’s liability pursuant to this Section 2.7(d), when combined with the amounts paid or payable by the Investor pursuant to Section 2.7(b), exceed the proceeds from the offering received by the Investor (net of any Selling Expenses paid by the Investor), except in the case of willful misconduct or fraud by the Investor.

   

  (e)Notwithstanding the foregoing, to the extent that the provisions on indemnification and contribution contained in the underwriting agreement entered into in connection with the underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement shall control; provided, however, that any matter expressly provided for or addressed by the foregoing provisions that is not expressly provided for or addressed by the underwriting agreement shall be controlled by the foregoing provisions.

   

  (f)Unless otherwise superseded by an underwriting agreement entered into in connection with the underwritten public offering, the obligations of the Company and the Investor under this Section 2.7 shall survive the completion of any offering of Registrable Securities in a registration under this Section 2, and otherwise shall survive the termination of this Agreement or any provision(s) of this Agreement.

   

  2.8Reports Under Exchange Act. With a view to making available to the Investor the benefits of SEC Rule 144 and any other 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 or pursuant to a registration on Form S-3, the Company shall:

   

  (a)make and keep available adequate current public information, as those terms are understood and defined in SEC Rule 144, at all times after the earlier of the (i) effective date of the registration statement filed by the Company for the IPO or (ii) effective date of the registration statement filed by the Company for a Direct Listing;

   

  (b)use commercially reasonable efforts to 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 (at any time after the Company has become subject to such reporting requirements); and

   

  (c)furnish to the Investor, so long as the Investor owns any Registrable Securities, forthwith upon request (i) to the extent accurate, a written statement by the Company that it has complied with the reporting requirements of SEC Rule 144 (at any time after 90 days 

   

  18

  

   

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  after the effective date of the registration statement filed by the Company for the IPO or a Direct Listing), the Securities Act, and the Exchange Act (at any time after the Company has become

   

   

  19

  

   

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  subject to such reporting requirements), or that it qualifies as a registrant whose securities may be resold pursuant to Form S-3 (at any time after the Company so qualifies); and (ii) such other information as may be reasonably requested in availing the Investor of any rule or regulation of the SEC that permits the selling of any such securities without registration (at any time after the Company has become subject to the reporting requirements under the Exchange Act) or pursuant to Form S-3 (at any time after the Company so qualifies to use such form).

   

  2.9“Market Stand-off” Agreement. Each Holder hereby agrees that it will not, without the prior written consent of the managing underwriter, during the period commencing on the date of the final prospectus relating to the registration by the Company of shares of its Common Stock or any other equity securities under the Securities Act on a registration statement on Form S-1 or Form S-3, and ending on the date specified by the Company and the managing underwriter (such period not to exceed one hundred eighty (180) days in the case of the IPO or ninety (90) days in the case of any registration other than the IPO, (i) lend; offer; pledge; sell; contract to sell; sell any option or contract to purchase; purchase any option or contract to sell; grant any option, right, or warrant to purchase; or otherwise transfer or dispose of, directly or indirectly, any shares of Common Stock or any securities convertible into or exercisable or exchangeable (directly or indirectly) for Common Stock held immediately before the effective date of the registration statement for such offering or (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of such securities, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of Common Stock or other securities, in cash, or otherwise. The foregoing provisions of this Section

  2.9 shall apply only to the IPO, shall not apply to the sale of any shares to an underwriter pursuant to an underwriting agreement or to the establishment of a trading plan pursuant to Rule 10b5-1, provided that such plan does not permit transfers during the restricted period, or the transfer of any shares to any trust for the direct or indirect benefit of the Holder or the immediate family of the Holder, provided that the trustee of the trust agrees to be bound in writing by the restrictions set forth herein, and provided further that any such transfer shall not involve a disposition for value, and shall be applicable to the Holders only if all officers and directors are subject to the same restrictions and the Company uses commercially reasonable efforts to obtain a similar agreement from all stockholders individually owning more than three percent (3%) of the Company’s outstanding Common Stock. The underwriters in connection with such registration are intended third-party beneficiaries of this Section 2.9 and shall have the right, power and authority to enforce the provisions hereof as though they were a party hereto. Each Holder further agrees to execute such agreements as may be reasonably requested by the underwriters in connection with such registration that are consistent with this Section 2.9 or that are necessary to give further effect thereto.

   

  2.10Termination of Registration Rights. The right of the Investor to inclusion of Registrable Securities in any registration pursuant to Section 2.1 shall terminate upon the earliest to occur of:

   

  (a)such time after consummation of the IPO or a Direct Listing as SEC Rule 144 or another similar exemption under the Securities Act is available for the sale of all of such the Investor’s Common Stock without limitation during a three (3) month period without registration;

   

   

  20

  

   

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  (b)the earlier of the fifth (5th) anniversary of the IPO or the fifth (5th) anniversary of a Direct Listing.

   

  3.Information Rights.

   

  3.1Delivery of Financial Statements.	The Company shall deliver to the

  Investor:

   

  (a)as soon as practicable, but in any event within forty-five (45) days

  after the end of each fiscal year of the Company (i) a balance sheet as of the end of such year and

  (ii) statements of income and of cash flows for such year, all prepared in accordance with GAAP as consistently applied by the Company (except that such financial statements may (x) be subject to normal year-end audit adjustments; and (y) not contain all notes thereto that may be required in accordance with GAAP);

   

  (b)as soon as practicable, but in any event within forty five (45) days after the end of each quarter of each fiscal year of the Company, unaudited statements of income and cash flows for such fiscal quarter, and an unaudited balance sheet as of the end of such fiscal quarter, all prepared in accordance with GAAP as consistently applied by the Company (except that such financial statements may (i) be subject to normal year-end audit adjustments; and (ii) not contain all notes thereto that may be required in accordance with GAAP); and

   

  (c)if requested, but no more frequently than once per calendar year, a statement showing the number of shares of each class and series of capital stock and securities convertible into or exercisable for shares of capital stock outstanding at the end of the period, the Common Stock issuable upon conversion or exercise of any outstanding securities convertible or exercisable for Common Stock and the exchange ratio or exercise price applicable thereto, and the number of shares of issued stock options and stock options not yet issued but reserved for issuance, if any, all in sufficient detail as to permit the Investor to calculate their respective percentage equity ownership in the Company; and

   

  (d)as soon as practicable, but in any event thirty (30) days before the end of each fiscal year, a summary budget and financial forecast for the next fiscal year sufficient for Investor to value its investment in the Company for its financial reporting compliance, and at such other times as any other budgets or revised budgets are prepared by the Company, the same information. Notwithstanding the foregoing, the budget and financial forecast for fiscal year 2022 shall be delivered by March 31, 2022.

   

  If, for any period, the Company has any subsidiary whose accounts are consolidated with those of the Company, then in respect of such period the financial statements delivered pursuant to the foregoing sections shall be the consolidated and consolidating financial statements of the Company and all such consolidated subsidiaries.

   

  Notwithstanding anything else in this Section 3.1 to the contrary, the Company may cease providing the information set forth in this Section 3.1 during the period starting with the date 

   

  21

  

   

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  sixty (60) days before the Company’s good-faith estimate of the date of filing of a registration statement if it reasonably concludes it must do so to comply with the SEC rules applicable to such registration statement and related offering; provided that the Company’s covenants under this

   

   

  22

  

   

  DocuSign Envelope ID: 56AB6408-9B5D-4237-B130-D82A44DFCA8F

  DocuSign Envelope ID: 4460DB1A-C9E3-45EB-A068-2125D01354BF

   

   

   

  Section 3.1 shall be reinstated at such time as the Company is no longer actively employing its commercially reasonable efforts to cause such registration statement to become effective.

   

  3.2Observer Rights. Notwithstanding any other representation the Investor may have on the Board of Directors, the Company shall invite one (1) representative of the Investor (the “Observer”) to attend all meetings of the Board of Directors in a nonvoting observer capacity and, in this respect, shall give such representative copies of all notices, minutes, consents, and other materials that it provides to its directors at the same time and in the same manner as provided to such directors; provided, however, that such representative shall agree to hold in confidence all information so provided; and provided further, that the Company reserves the right to withhold any information and to exclude such representative from any meeting or portion thereof if the Board of Directors determines in good faith, upon advice of counsel, that such exclusion is reasonably necessary to preserve the attorney-client privilege, to protect highly confidential proprietary information, because such information is materially competitively sensitive with regard to the commercial or business relationship between Investor and the Company or would result in disclosure of trade secrets or a conflict of interest. The individual to serve as an Observer shall be to the mutual agreement of the Company and Investor. The initial Observer (to which both the Company and Investor consent) shall be Chris Burns.

   

  3.3Termination of Information and Observer Rights. The covenants set forth in Section 3.1 and Section 3.2 shall terminate and be of no further force or effect (i) immediately before the consummation of the IPO, (ii) when the Company first becomes subject to the periodic reporting requirements of Section 12(g) or 15(d) of the Exchange Act, or (iii) when the number of Shares owned by the Investor represents less than four (4%) of the issued and outstanding shares of Common Stock, whichever event occurs first.

   

  3.4Confidentiality. The Investor agrees that it will keep confidential and will not disclose, divulge, or use for any purpose (other than to monitor or make decisions with respect to its investment in the Company) any confidential information obtained from the Company pursuant to the terms of this Agreement (including notice of the Company’s intention to file a registration statement), unless such confidential information (a) is known or becomes known to the public in general (other than as a result of a breach of this Section 3.4 by the Investor), (b) is or has been independently developed or conceived by the Investor without use of the Company’s confidential information, or (c) is or has been made known or disclosed to the Investor by a third party without a breach of any obligation of confidentiality such third party may have to the Company; provided, however, that the Investor may disclose confidential information (i) to its attorneys, accountants, consultants, and other professionals to the extent reasonably necessary to obtain their services in connection with monitoring its investment in the Company; (ii) to any prospective purchaser of any Registrable Securities from the Investor, if such prospective purchaser agrees to be bound by the provisions of this Section 3.4; (iii) to any Affiliate, partner, limited partner, member, stockholder, or wholly owned subsidiary of the Investor in the ordinary course of business, provided that the Investor informs such Person that such information is confidential and directs such Person to maintain the confidentiality of such information; or (iv) as may otherwise be required by law, regulation, rule, court order or subpoena, provided that the Investor promptly notifies the Company of such disclosure and takes reasonable steps to minimize the extent of any 

   

  23

  

   

  DocuSign Envelope ID: 56AB6408-9B5D-4237-B130-D82A44DFCA8F

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  such required disclosure.

   

   

  24

  

  Exhibit 4.11

   

   

   

  4.Rights to Future Stock Issuances; Anti-Dilution Protection.

   

  4.1Right of First Offer.

   

  (a)Subject to the terms and conditions of this Section 4.1 and applicable securities laws, if the Company proposes to offer or sell any New Securities for cash, the Company shall first offer such New Securities to the Investor. The right of first offer in this Section 4 shall not be applicable with respect to the Investor, if at the time of such subsequent securities issuance, the Investor is not an “accredited investor,” as that term is then defined in Rule 501(a) under the Securities Act.

   

  (b)The Company shall give notice (the “Offer Notice”) to the Investor, stating (i) its bona fide intention to offer such New Securities, (ii) the number of such New Securities to be offered, and (iii) the price and terms, if any, upon which it proposes to offer such New Securities.

   

  (c)By notification to the Company within twenty (20) days after the Offer Notice is given, the Investor may elect to purchase or otherwise acquire, at the price and on the terms specified in the Offer Notice, up to that portion of such New Securities which equals the proportion that the Common Stock then held by Investor bears to the total Common Stock of the Company then outstanding on a fully-diluted basis. The closing of any sale pursuant to this Section 4.1(c) shall occur within the later of ninety (90) days of the date that the Offer Notice is given and the date of initial sale of New Securities pursuant to Section 4.1(d).

   

  (d)If all New Securities referred to in the Offer Notice are not elected to be purchased or acquired as provided in Section 4.1(c), the Company may, during the ninety

  (90) day period following the expiration of the period provided in Section 4.1(c), offer and sell the remaining unsubscribed portion of such New Securities to any Person or Persons at a price not less than, and upon terms no more favorable to the offeree than, those specified in the Offer Notice. If the Company does not enter into an agreement for the sale of the New Securities within such period, or if such agreement is not consummated within thirty (30) days of the execution thereof, the right provided hereunder shall be deemed to be revived and such New Securities shall not be offered unless first reoffered to the Investor in accordance with this Section 4.1.

   

  (e)The right of first offer in this Section 4.1 shall not be applicable to

  (i) the sale of shares of Common Stock by the Company at the price of $7.50 per share currently being undertaken on a private placement for proceeds of $50,000,000; or (ii) shares of Common Stock issued in the IPO; or (iii) shares of Common Stock issued in partial consideration for the purchase of lands located in Buckeye, Arizona.

   

  4.2Anti-Dilution. In the event that the Company issues and sells Common Stock for cash consideration (a “DFD Share Sale”) to Slip Technology Royalty Company, Do- Fluoride (Jiaozuo) New Energy Trading Co., Ltd. (“DFD”) pursuant to that certain Amended and Restated Sublicense Agreement, dated October 23, 2019, by and between the Company and DFD), or any amendment thereto, and the price per share of such Common Stock shares sold in such DFD Share Sale (the “Per Share Price”) is less than $7.50 per share (the “Anti-Dilution Price”) (as adjusted for stock splits, dividends, recapitalizations and the like), the Company shall issue to

   

   

  

   

  DocuSign Envelope ID: 56AB6408-9B5D-4237-B130-D82A44DFCA8F

  DocuSign Envelope ID: 4460DB1A-C9E3-45EB-A068-2125D01354BF

   

   

   

  Investor such additional number of Shares equal to (i) the aggregate Purchase Price paid by the Investor pursuant to the Purchase Agreement, divided by (ii) the price that Common Stock was sold at in the DFD Shares Sale, minus (iii) the total aggregate Shares issued to the Investor pursuant to the Purchase Agreement.

   

  4.3Termination. The covenants set forth in Section 4.1 and Section 4.2 shall terminate and be of no further force or effect (i) immediately before the consummation of the IPO or Direct Listing, (ii) when the Company first becomes subject to the periodic reporting requirements of Section 12(g) or 15(d) of the Exchange Act, or (iii) when the number of Shares owned by the Investor represents less than four (4%) of the issued and outstanding shares of Common Stock, whichever event occurs first.

   

  5.Additional Covenants.

   

  5.1Transfer Assistance. Notwithstanding anything to the contrary, at any time on or after the seventh anniversary of the date of the Closing Date, as defined in the Purchase Agreement, upon a written notice from the Investor, that the Investor intends to transfer some or all of its shares of Common Stock, the Company shall consent to and permit such proposed transfer, and, subject to third-persons executing and delivering to Company a customary confidentiality and nondisclosure agreement, provide all reasonable assistance requested by the Investor in connection with such proposed transaction, including, but not limited to, providing access to due diligence materials concerning the Company in an electronic data room or otherwise, entering into confidentiality or similar agreements with potential purchasers of the Common Stock and making Company personnel reasonably available to meet with potential purchasers to discuss the Company’s business, in each case in a manner substantially the same as would be reasonably expected if the entire Company is being sold through a traditional auction process managed by an investment bank.

   

  5.2Termination of Covenants. The covenants set forth in this Section 5, other than Section 5.2 shall terminate and be of no further force or effect (i) immediately before the consummation of the IPO or Direct Listing, or (ii) when the Company first becomes subject to the periodic reporting requirements of Section 12(g) or 15(d) of the Exchange Act, whichever event occurs first.

   

  6.Miscellaneous.

   

  6.1Successors and Assigns. The rights under this Agreement may be assigned (but only with all related obligations) by the Investor to a transferee of Registrable Securities that

  (i) is an Affiliate of the Investor; or (ii) after such transfer, holds at least 500,000 shares of Registrable Securities (subject to appropriate adjustment for stock splits, stock dividends, combinations, and other recapitalizations); provided, however, that (x) the Company is, within a reasonable time after such transfer, furnished with written notice of the name and address of such transferee and the Registrable Securities with respect to which such rights are being transferred; and (y) such transferee agrees in a written instrument delivered to the Company to be bound by and subject to the terms and conditions of this Agreement. For the purposes of determining the 

   

  26

  

   

  DocuSign Envelope ID: 56AB6408-9B5D-4237-B130-D82A44DFCA8F

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  number of shares of Registrable Securities held by a transferee, the holdings of a transferee that is an Affiliate or stockholder of the Investor shall be aggregated together and with those of the

   

   

  27

  

   

  DocuSign Envelope ID: 56AB6408-9B5D-4237-B130-D82A44DFCA8F

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  Investor; provided further that all transferees who would not qualify individually for assignment of rights shall, as a condition to the applicable transfer, have a single attorney-in-fact for the purpose of exercising any rights, receiving notices, or taking any action under this Agreement. The terms and conditions of this Agreement inure to the benefit of and are binding upon the respective successors and permitted assignees of the parties. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and permitted assignees any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided herein.

   

  6.2Governing Law. This Agreement shall be governed by the internal law of the State of Delaware, without regard to conflict of law principles that would result in the application of any law other than the law of the State of Delaware (provided that where required the corporation law of Nevada shall apply to the Company).

   

  6.3Counterparts. This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic signature complying with the U.S. ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

   

  6.4Titles and Subtitles. The titles and subtitles used in this Agreement are for convenience only and are not to be considered in construing or interpreting this Agreement.

   

  6.5Notices.

   

  (a)All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively given upon the earlier of actual receipt or (i) personal delivery to the party to be notified; (ii) when sent, if sent by electronic mail or facsimile during the recipient’s normal business hours, and if not sent during normal business hours, then on the recipient’s next business day; (iii) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid; or (iv) one (1) business day after the business day of deposit with a nationally recognized overnight courier, freight prepaid, specifying next-day delivery, with written verification of receipt. All communications shall be sent to the respective parties at their addresses as set forth on Schedule A hereto, or to the principal office of the Company and to the attention of the Chief Executive Officer, in the case of the Company, or to such email address, facsimile number, or address as subsequently modified by written notice given in accordance with this Section 6.5. If notice is given to the Investor, a copy shall also be sent to Bryan Cave Leighton Paisner LLP, One Metropolitan Square, 211 North Broadway, Saint Louis, MO 63102-2726, Attention: Robert L. Newmark (rlnewmark@bclplaw.com), and if notice is given to the Company, a copy shall also be sent to KORE Power, Inc., 1875 N Lakewood Dr. Suite 200, Coeur d’Alene ID 83814 Attn.: Lindsay Gorrill, CEO (lgorrill@korepower.com).

   

  (b)Consent to Electronic Notice. Each Investor consents to the delivery 

   

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  of any stockholder notice pursuant to the Delaware General Corporation Law (the “DGCL”), as amended or superseded from time to time, by electronic transmission pursuant to Section 232 of

   

   

  29

  

  Exhibit 4.11

   

   

   

  the DGCL (or any successor thereto) at the electronic mail address as on the books of the Company. To the extent that any notice given by means of electronic transmission is returned or undeliverable for any reason, the foregoing consent shall be deemed to have been revoked until a new or corrected electronic mail address has been provided, and such attempted electronic notice shall be ineffective and deemed to not have been given. Each Investor agrees to promptly notify the Company of any change in such stockholder’s electronic mail address, and that failure to do so shall not affect the foregoing.

   

  6.6Amendments and Waivers. Any term of this Agreement may be amended, modified or terminated and the observance of any term of this Agreement may be waived (either generally or in a particular instance, and either retroactively or prospectively) only with the written consent of the Company (which is conditioned upon receiving approval of the Company’s Board of Directors) and the Investor; provided that any provision hereof may be waived by any waiving party on such party’s own behalf, without the consent of any other party. Notwithstanding the foregoing, (a) this Agreement may not be amended, modified or terminated and the observance of any term hereof may not be waived with respect to the Investor without the written consent of the Investor; and (b) Sections 3.1 and Section 4 and any other section of this Agreement applicable to the Investor (including this clause (b) of this Section 6.6) may not be amended, modified, terminated or waived without the written consent of the Investor. Any amendment, modification, termination, or waiver effected in accordance with this Section 6.6 shall be binding on all parties hereto, regardless of whether any such party has consented thereto. No waivers of or exceptions to any term, condition, or provision of this Agreement, in any one or more instances, shall be deemed to be or construed as a further or continuing waiver of any such term, condition, or provision.

   

  6.7Severability. In case any one or more of the provisions contained in this Agreement is for any reason held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provision of this Agreement, and such invalid, illegal, or unenforceable provision shall be reformed and construed so that it will be valid, legal, and enforceable to the maximum extent permitted by law.

   

  6.8Aggregation of Stock. All shares of Registrable Securities held or acquired by Affiliates shall be aggregated together for the purpose of determining the availability of any rights under this Agreement and such Affiliated persons may apportion such rights as among themselves in any manner they deem appropriate.

   

  6.9Entire Agreement. This Agreement (including any Schedules and Exhibits hereto) constitutes the full and entire understanding and agreement among the parties with respect to the subject matter hereof, and any other written or oral agreement relating to the subject matter hereof existing between the parties is expressly canceled.

   

  6.10Dispute Resolution. The parties (a) hereby irrevocably and unconditionally submit to the jurisdiction of the state courts of Delaware and to the jurisdiction of the United States District Court for the District of Delaware for the purpose of any suit, action or other proceeding arising out of or based upon this Agreement, (b) agree not to commence any suit, action or other proceeding arising out of or based upon this Agreement except in the state courts of Delaware or the United States District Court for the District of Delaware, and (c) hereby waive, and agree not

   

   

  

  Exhibit 4.11

   

   

   

  to assert, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution, that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not be enforced in or by such court. The prevailing party shall be entitled to reasonable attorney’s fees, costs, and necessary disbursements in addition to any other relief to which such party may be entitled

   

  WAIVER OF JURY TRIAL: EACH PARTY HEREBY WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT, THE OTHER TRANSACTION DOCUMENTS, THE SECURITIES OR THE SUBJECT MATTER HEREOF OR THEREOF. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS (INCLUDING NEGLIGENCE), BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. THIS SECTION HAS BEEN FULLY DISCUSSED BY EACH OF THE PARTIES HERETO AND THESE PROVISIONS WILL NOT BE SUBJECT TO ANY EXCEPTIONS. EACH PARTY HERETO HEREBY FURTHER WARRANTS AND REPRESENTS THAT SUCH PARTY HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL, AND THAT SUCH PARTY KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL.

   

  6.11Delays or Omissions. No delay or omission to exercise any right, power, or remedy accruing to any party under this Agreement, upon any breach or default of any other party under this Agreement, shall impair any such right, power, or remedy of such nonbreaching or nondefaulting party, nor shall it be construed to be a waiver of or acquiescence to any such breach or default, or to any similar breach or default thereafter occurring, nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. All remedies, whether under this Agreement or by law or otherwise afforded to any party, shall be cumulative and not alternative.

   

  (Signature page follows)

   

   

  

   

  DocuSign Envelope ID: 56AB6408-9B5D-4237-B130-D82A44DFCA8F

  DocuSign Envelope ID: 4460DB1A-C9E3-45EB-A068-2125D01354BF

   

   

   

  IN WITNESS WHEREOF, the parties have executed this Investors’ Rights Agreement as of the date first above written.

   

  COMPANY:

   

   

  KORE POWER, INC.,

  a Nevada corporation

   

   

  By:	 Name: LINDSAY E. GORRILL

  Title: CHIEF EXECUTIVE OFFICER

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

  

   

  DocuSign Envelope ID: 56AB6408-9B5D-4237-B130-D82A44DFCA8F

  DocuSign Envelope ID: 4460DB1A-C9E3-45EB-A068-2125D01354BF

   

   

   

   

   

   

   

   

   

  Signature Page to Investors’ Rights Agreement

   

   

  

   

  DocuSign Envelope ID: 56AB6408-9B5D-4237-B130-D82A44DFCA8F

  DocuSign Envelope ID: 4460DB1A-C9E3-45EB-A068-2125D01354BF

   

   

   

  IN WITNESS WHEREOF, the parties have executed this Investors’ Rights Agreement as of the date first above written.

   

  INVESTOR:

   

   

  NOVONIX LIMITED,

   

   

  By:	 Name: ROBERT NATTER

  Title: CHAIRMAN OF THE BOARD

   

   

  By:	 Name: SUZANNE YEATS

  Title: CORPORATE SECRETARY

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