Document:

Exhibit 10.3

 

REGISTRATION RIGHTS AGREEMENT

 

THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”),
dated as of July 18, 2022, is made and entered into by and among Mondee Holdings, Inc., a Delaware corporation (the “Company”)
(formerly known as ITHAX Acquisition Corp., an exempted company incorporated in the Cayman Islands with limited liability), ITHAX Acquisition
Sponsor LLC, a Delaware limited liability company (the “Sponsor”) Mondee Holdings, LLC, a Delaware limited liability
company (“Mondee LLC”), each person listed on the signature pages under the caption “Third-Party
Investors” or who execute a Joinder as a “Third-Party Investor” and each person listed on the signature pages under
the caption “Earn-Out Holders” or who executes a Joinder as an “Earn-Out Holders” or who executes a Joinder as
an “Earn-Out Holder” (the Sponsor, Mondee LLC, Third-Party Investors (as defined below) and the Earn-Out Holders (as defined
below) are collectively referred to as “Holders” and each, a “Holder”).

 

RECITALS

 

WHEREAS,
the Company has entered into that certain Business Combination Agreement, dated as of December 20, 2021 (as it may be amended or
supplemented from time to time, the “Business Combination Agreement”), by and among the Company, Ithax Merger
Sub I, LLC, a Delaware limited liability company (“Merger Sub I”), Ithax Merger Sub II, LLC, a Delaware limited
liability company (“Merger Sub II”) and Mondee Holdings II, Inc., a Delaware corporation (“Mondee
Holdings”), by which (a) Merger Sub I will merge with and into Mondee Holdings, with Mondee Holdings surviving as a
wholly owned subsidiary of the Company; and (b) immediately following; Mondee Holdings will merge with and into Merger Sub II, with
Merger Sub II surviving as a wholly owned subsidiary of the Company;

 

WHEREAS,
on the date hereof, pursuant to the Business Combination Agreement, Mondee LLC received shares of Company Class A common stock, par
value $0.001 per share, (the “Common Stock”), of the Company;

 

WHEREAS,
on the date hereof, certain other investors (such other investors, collectively, the “Third-Party Investors”)
purchased an aggregate of 5,000,000 shares of Common Stock (the “Investor Shares”) in a transaction exempt from
registration under the Securities Act of 1933, as amended (the “Securities Act”) pursuant to the respective
Subscription Agreement, each dated as of December 20, 2021, entered into by and between the Company and each of the Third-Party Investors
(each, a “Subscription Agreement” and, collectively, the “Subscription Agreements”);

 

WHEREAS,
on the date hereof, the Company entered into the Earn-Out Agreement, pursuant to which up to 9,000,000 shares of Common Stock (the “Earn-Out
Shares”) shall be issued to management and other affiliates of the Company, subject to the terms and conditions set forth
in the Earn-Out Agreement (the “Earn-Out Holders”); and

 

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

 

ARTICLE I

 

DEFINITIONS

 

Section 1.1              
Definitions. The terms defined in this Article I shall, for all purposes of this Agreement, have the respective meanings
set forth below:

 

“Additional Holder”
shall have the meaning given in Section 6.10.

 

“Additional Holder Common Stock”
shall have the meaning given in Section 6.10.

 

“Adverse Disclosure”
shall mean any public disclosure of material non-public information, which disclosure, in the good faith judgment of the Chief Executive
Officer or the Chief Financial Officer of the Company, after consultation with counsel to the Company, (i) would be required to be
made in any Registration Statement or Prospectus in order for the applicable Registration Statement or Prospectus not to contain any untrue
statement of a material fact or omit to state a material fact necessary to make the statements contained therein (in the case of any prospectus
and any preliminary prospectus, in the light of the circumstances under which they were made) not misleading, (ii) would not be required
to be made at such time if the Registration Statement were not being filed, declared effective or used, as the case may be and (iii) the
Company has a bona fide business purpose for not making such information public.

 

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“Agreement” shall have
the meaning given in the Preamble hereto.

 

“Block Trade” shall
have the meaning given in Section 2.4.1.

 

“Board” shall mean the
Board of Directors of the Company.

 

“Business Combination Agreement”
shall have the meaning given in the Recitals hereto.

 

“Closing” shall have
the meaning given in the Business Combination Agreement.

 

“Closing Date” shall
have the meaning given in the Business Combination Agreement.

 

“Commission” shall mean
the Securities and Exchange Commission.

 

“Common Stock” shall
have the meaning given in the Recitals hereto.

 

“Company” shall have
the meaning given in the Preamble hereto and includes the Company’s successors by recapitalization, merger, consolidation, spin-off,
reorganization or similar transaction.

 

“Demanding Holder” shall
have the meaning given in Section 2.1.4.

 

“Earn-Out Agreement”
shall mean the Earn-Out Agreement dated December 20, 2021 by and among ITHAX Acquisition Corp., an exempted company incorporated
in the Cayman Islands with limited liability (and any successor thereto) and the certain persons listed on Schedule A thereto.

 

“Exchange Act” shall
mean the Securities Exchange Act of 1934, as it may be amended from time to time.

 

“Form S-1 Shelf”
shall have the meaning given in Section 2.1.1.

 

“Form S-3 Shelf”
shall have the meaning given in Section 2.1.1.

 

“Holder Information”
shall have the meaning given in Section 4.1.2.

 

“Holders” shall have
the meaning given in the Preamble hereto, for so long as such person or entity holds any Registrable Securities.

 

“Investor Shares” shall
have the meaning given in the Recitals hereto.

 

“Joinder” shall have
the meaning given in Section 6.10.

 

“Lock-up” shall have
the meaning given in Section 5.1.1.

 

“Lock-up Holders” shall
have the meaning given in Section 5.1.1.

 

“Lock-up Period” shall
mean the period beginning on the Closing Date and ending on the earlier to occur of (a) six (6) months after the Closing Date,
(b) such date that the closing price of Common Stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends,
reorganizations, recapitalizations and the like) for any twenty (20) trading days within any period of thirty (30) consecutive trading days
commencing at least ninety (90) calendar days following the Closing Date and (c) the date on which the Company consummates a
sale, merger, liquidation, exchange offer or other similar transaction after the Closing Date that results in the stockholders of Mondee
Holdings immediately prior to such transaction having beneficial ownership of less than fifty percent (50%) of the outstanding voting
securities of the Company.

 

“Lock-up Shares” shall
mean Common Stock beneficially owned (as such term is used in Rule 13d-3 of the 1934 Act), by a Lock-up Holder immediately following
the Closing Date or any other securities so owned convertible into or exercisable or exchangeable for such Common Stock immediately following
the Closing Date (other than shares of Common Stock acquired in the public market or pursuant to a transaction exempt from registration
under the 1933 Act pursuant to a subscription agreement where the issuance of Common Stock occurs on or after the Closing Date); provided,
that, for clarity, Common Stock issued to Third-Party Investors pursuant to the Subscription Agreements shall not constitute Lock-up Shares.

 

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“Maximum Number of Securities”
shall have the meaning given in Section 2.1.5.

 

“Minimum Takedown Threshold”
shall have the meaning given in Section 2.1.4.

 

“Misstatement” shall
mean an untrue statement of a material fact or an omission to state a material fact required to be stated in a Registration Statement
or Prospectus or necessary to make the statements in a Registration Statement or Prospectus (in the case of a Prospectus, in the light
of the circumstances under which they were made) not misleading.

 

“Other Coordinated Offering”
shall have the meaning given in Section 2.4.1.

 

“Permitted Transferees”
shall mean (i) any person or entity to whom such Holder is permitted to Transfer such Registrable Securities prior to the expiration
of the Lock-up Period pursuant to Section 5.1.1 and (ii) after the expiration of the Lock-up Period, any person or entity
to whom such Holder is not prohibited from transferring such Registrable Securities, subject to and in accordance with any applicable
agreement between such Holder and/or their respective Permitted Transferees and the Company and any transferee thereafter.

 

“Piggyback Registration”
shall have the meaning given in Section 2.2.1.

 

“Prospectus” shall mean
the prospectus included in any Registration Statement, as supplemented by any and all prospectus supplements and as amended by any and
all post-effective amendments and including all material incorporated by reference in such prospectus.

 

“Registrable Security”
shall mean (a) any outstanding shares of Common Stock or any other equity security (including warrants to purchase shares of Common
Stock and shares of Common Stock issued or issuable upon the exercise of any other equity security) of the Company held by a Holder immediately
following the Closing Date (including any securities distributable pursuant to the Business Combination Agreement or the Earn-Out Agreement);
(b) any Additional Holder Common Stock (including, for the avoidance of doubt, any Earn-Out Shares delivered pursuant to the Earn-Out
Agreement); and (c) any other equity security of the Company or any of its subsidiaries issued or issuable with respect to any securities
referenced in clause (a) or (b) above by way of a stock dividend or stock split or in connection with a recapitalization, merger,
consolidation, spin-off, reorganization or similar transaction; provided, however, that, as to any particular Registrable
Security, such securities shall cease to be Registrable Securities upon the earliest to occur of: (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 sold,
transferred, disposed of or exchanged in accordance with such Registration Statement by the applicable Holder; (B) (i) such
securities shall have been otherwise transferred (other than to Permitted Transferees), (ii) new certificates for such securities
not bearing (or book entry positions not subject to) a legend restricting further Transfer shall have been delivered by the Company and
(iii) subsequent public distribution of such securities shall not require registration under the Securities Act; (C) such securities
shall have ceased to be outstanding; (D) such securities may be sold without registration pursuant to Rule 144 or any successor
rule promulgated under the Securities Act (but with no volume or other restrictions or limitations including as to manner or timing
of sale); and (E) such securities have been sold to, or through, a broker, dealer or Underwriter in a public distribution or other
public securities transaction.

 

“Registration” shall
mean a registration, including any related Shelf Takedown, effected by preparing and filing a registration statement, Prospectus or similar
document in compliance with the requirements of the Securities Act, and the applicable rules and regulations promulgated thereunder,
and such registration statement becoming effective.

 

“Registration Expenses”
shall mean the documented, out-of-pocket expenses of a Registration, including, without limitation, the following:

 

(A)  
all registration and filing fees (including fees with respect to filings required to be made with the Financial Industry Regulatory
Authority, Inc.) and any national securities exchange on which the Common Stock is then listed;

 

(B)  
fees and expenses of compliance with securities or blue sky laws (including reasonable fees and disbursements of outside counsel
for the Underwriters in connection with blue sky qualifications of Registrable Securities);

 

(C)  
printing, messenger, telephone and delivery expenses;

 

(D)  
fees and disbursements of counsel for the Company;

 

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(E)   
 fees and disbursements of all independent registered public accountants of the Company incurred specifically in connection with
such Registration including the expenses of any special audits and/or “cold comfort” letters required by or incident to such
performance and compliance;

 

(F)   
reasonable and documented fees and disbursements of counsel (including local and special counsel, to the extent necessary) incurred
in connection with any registration statement or registered offering (including any Registration) covering Registrable Securities; and

 

(G)  
in an Underwritten Offering or Other Coordinated Offering, reasonable and documented fees and expenses not to exceed $50,000 in
the aggregate for each Registration of one (1) legal counsel selected by the majority-in-interest of the Demanding Holders.

 

“Registration Statement”
shall mean any registration statement that covers Registrable Securities pursuant to the provisions of this Agreement, including the Prospectus
included in such registration statement, amendments (including post-effective amendments) and supplements to such registration statement,
and all exhibits to and all material incorporated by reference in such registration statement.

 

“Securities Act” shall
mean the Securities Act of 1933, as amended from time to time.

 

“Shelf” shall mean the
Form S-1 Shelf, the Form S-3 Shelf or any Subsequent Shelf Registration Statement, as the case may be.

 

“Shelf Registration”
shall mean a registration of securities pursuant to a registration statement filed with the Commission in accordance with and pursuant
to Rule 415 promulgated under the Securities Act (or any successor rule then in effect).

 

“Shelf Takedown” shall
mean an Underwritten Shelf Takedown or any proposed Transfer or sale using a Registration Statement, including a Piggyback Registration.

 

“Sponsor” shall have
the meaning given in the Preamble hereto.

 

“Subsequent Shelf Registration Statement”
shall have the meaning given in Section 2.1.2.

 

“Third-Party Investors”
shall have the meaning set forth in the Recitals hereto.

 

“Transfer” shall mean
the (a) sale or assignment of, offer to sell, contract or agreement to sell, hypothecate, pledge, grant of any option to purchase
or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent position
or liquidation with respect to or decrease of a call equivalent position within the meaning of Section 16 of the Exchange Act with
respect to, any security, (b) entry into any swap or other arrangement that transfers to another, in whole or in part, any of the
economic consequences of ownership of any security, whether any such transaction is to be settled by delivery of such securities, in cash
or otherwise, or (c) public announcement of any intention to effect any transaction specified in clause (a) or (b).

 

“Underwriter” shall
mean a securities dealer who purchases any Registrable Securities as principal in an Underwritten Offering and not as part of such dealer’s
market-making activities.

 

“Underwritten Offering”
shall mean a Registration in which securities of the Company are sold to an Underwriter in a firm commitment underwriting for distribution
to the public.

 

“Underwritten Shelf Takedown”
shall have the meaning given in Section 2.1.4.

 

“Withdrawal Notice”
shall have the meaning given in Section 2.1.6.

 

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ARTICLE II

 

REGISTRATIONS AND OFFERINGS

 

Section 2.1              
Shelf Registration.

 

2.1.1          Filing.
Within thirty (30) calendar days following the Closing Date, the Company shall submit to or file with the Commission a
Registration Statement for a Shelf Registration on Form S-1 (the “Form S-1 Shelf”) or a
Registration Statement for a Shelf Registration on Form S-3 (the “Form S-3 Shelf”), if
the Company is then eligible to use a Form S-3 Shelf, in each case, covering the resale of all the Registrable Securities
(determined as of two (2) business days prior to such submission or filing) on a delayed or continuous basis and shall use
its commercially reasonable efforts to have such Shelf declared effective as soon as practicable after the filing thereof, but no
later than the earlier of (a) the ninetieth (90th) calendar day (or 120th calendar day if the Commission notifies
the Company that it will “review” the Registration Statement) following the Closing Date, and (b) the tenth (10th)
business day after the date the Company is notified (orally or in writing, whichever is earlier) by the Commission that the
Registration Statement will not be “reviewed” or will not be subject to further review. Such Shelf shall provide for the
resale of the Registrable Securities included therein pursuant to any method or combination of methods legally available to, and
requested by, any Holder named therein. The Company shall maintain a Shelf in accordance with the terms hereof, and shall prepare
and file with the Commission such amendments, including post-effective amendments, and supplements as may be necessary to keep a
Shelf continuously effective, available for use to permit the Holders named therein to sell their Registrable Securities included
therein and in compliance with the provisions of the Securities Act until such time as there are no longer any Registrable
Securities. In the event the Company files a Form S-1 Shelf, the Company shall use its commercially reasonable efforts to
(i) convert the Form S-1 Shelf (and any Subsequent Shelf Registration Statement) to a Form S-3 Shelf or
(ii) file a Form S-3 Shelf, as the case may be, in each case, as soon as practicable after the Company is eligible to
use Form S-3. The Company’s obligation under this Section 2.1.1, shall, for the avoidance of doubt, be
subject to Section 3.4.

 

2.1.2         
Subsequent Shelf Registration. If any Shelf ceases to be effective under the Securities Act for any reason at any time while Registrable
Securities are still outstanding, the Company shall, subject to Section 3.4, use its commercially reasonable efforts to as
promptly as is reasonably practicable cause such Shelf to again become effective under the Securities Act (including using its commercially
reasonable efforts to obtain the prompt withdrawal of any order suspending the effectiveness of such Shelf), and shall use its commercially
reasonable efforts to as promptly as is reasonably practicable amend such Shelf in a manner reasonably expected to result in the withdrawal
of any order suspending the effectiveness of such Shelf or file an additional registration statement as a Shelf Registration (a “Subsequent
Shelf Registration Statement”) registering the resale of all Registrable Securities (determined as of two (2) business days
prior to such filing), and pursuant to any method or combination of methods legally available to, and requested by, any Holder named therein.
If a Subsequent Shelf Registration Statement is filed, the Company shall use its commercially reasonable efforts to (i) cause such
Subsequent Shelf Registration Statement to become effective under the Securities Act as promptly as is reasonably practicable after the
filing thereof (it being agreed that the Subsequent Shelf Registration Statement shall be an automatic shelf registration statement (as
defined in Rule 405 promulgated under the Securities Act) if the Company is a well-known seasoned issuer (as defined in Rule 405
promulgated under the Securities Act) at the most recent applicable eligibility determination date) and (ii) keep such Subsequent
Shelf Registration Statement continuously effective, available for use to permit the Holders named therein to sell their Registrable Securities
included therein and in compliance with the provisions of the Securities Act until such time as there are no longer any Registrable Securities.
Any such Subsequent Shelf Registration Statement shall be on Form S-3 to the extent that the Company is eligible to use such
form. Otherwise, such Subsequent Shelf Registration Statement shall be on another appropriate form. The Company’s obligation under
this Section 2.1.2, shall, for the avoidance of doubt, be subject to Section 3.4.

 

2.1.3         
Additional Registrable Securities. Subject to Section 3.4, in the event that any Holder holds Registrable Securities
that are not registered for resale on a delayed or continuous basis, the Company, upon written request of a Holder, shall promptly use
its commercially reasonable efforts to cause the resale of such Registrable Securities to be covered by either, at the Company’s
option, any then available Shelf (including by means of a post-effective amendment) or by filing a Subsequent Shelf Registration Statement
and cause the same to become effective as soon as practicable after such filing and such Shelf or Subsequent Shelf Registration Statement
shall be subject to the terms hereof; provided, however, that the Company shall only be required to cause such Registrable
Securities to be so covered twice per calendar year for each of the Holders.

 

2.1.4         
Requests for Underwritten Shelf Takedowns. Subject to Section 3.4, at any time and from time to time when an effective
Shelf is on file with the Commission, a Holder (any of the Holders being in such case, a “Demanding Holder”)
may request to sell all or any portion of its Registrable Securities in an Underwritten Offering that is registered pursuant to the Shelf
(each, an “Underwritten Shelf Takedown”); provided that the Company shall only be obligated to effect
an Underwritten Shelf Takedown if such offering shall include Registrable Securities proposed to be sold by the Demanding Holder, either
individually or together with other Demanding Holders, with an anticipated gross aggregate offering price of at least $10 million (the
 “Minimum Takedown Threshold”). All requests for Underwritten Shelf Takedowns shall be made by giving written
notice to the Company, which shall specify the approximate number of Registrable Securities proposed to be sold in the Underwritten Shelf
Takedown. Subject to Section 2.4.4, the Company shall have the right to select the Underwriters for such offering (which shall
consist of one or more reputable nationally recognized investment banks), subject to the initial Demanding Holder’s prior approval
(which shall not be unreasonably withheld, conditioned or delayed). The Sponsor may demand not more than one (1) Underwritten Shelf
Takedown and the other Holders may demand not more than two (2) Underwritten Shelf Takedowns, in each case, pursuant to this Section 2.1.4
in any twelve (12) month period (such rights, in each such case, a “Demand”). Notwithstanding anything
to the contrary in this Agreement, the Company may effect any Underwritten Offering pursuant to any then effective Registration Statement,
including a Form S-3, which is then available for such offering.

 

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2.1.5          Reduction
of Underwritten Offering. If the Underwriter in an Underwritten Shelf Takedown advises the Demanding Holders in writing that
marketing factors require a limitation of the number of shares to be underwritten, then the Demanding Holders shall so advise all
Holders of Registrable Securities that would otherwise be underwritten pursuant hereto, and the number of shares of Registrable
Securities that may be included in the underwriting (such maximum number of such securities, the “Maximum Number of
Securities”) shall be allocated among all participating Holders thereof, including the Demanding Holders, in
proportion (as nearly as practicable) to the amount of Registrable Securities of the Company owned by each participating Holder; provided, however,
that the number of shares of Registrable Securities to be included in such underwriting shall not be reduced unless all other
securities are first entirely excluded from the underwriting.

 

2.1.6         
Withdrawal. Prior to the filing of the applicable “red herring” prospectus or prospectus supplement used for marketing
such Underwritten Shelf Takedown, a majority-in-interest of the Demanding Holders initiating an Underwritten Shelf Takedown shall have
the right to withdraw from such Underwritten Shelf Takedown for any or no reason whatsoever upon written notification (a “Withdrawal
Notice”) to the Company and the Underwriter or Underwriters (if any) of their intention to withdraw from such Underwritten
Shelf Takedown; provided that the Sponsor or the Holders, as applicable, may elect to have the Company continue an Underwritten
Shelf Takedown if the Minimum Takedown Threshold would still be satisfied by the Registrable Securities proposed to be sold in the Underwritten
Shelf Takedown by the Sponsor, the Holders or any of their respective Permitted Transferees, as applicable. If withdrawn, a Demand for
an Underwritten Shelf Takedown shall constitute a Demand for an Underwritten Shelf Takedown by the withdrawing Demanding Holder for purposes
of Section 2.1.4, unless either (i) such Demanding Holder has not previously withdrawn any Underwritten Shelf Takedown
or (ii) such Demanding Holder reimburses the Company for all Registration Expenses with respect to such Underwritten Shelf Takedown
(or, if there is more than one Demanding Holder, a pro rata portion of such Registration Expenses based on the respective number of Registrable
Securities that each Demanding Holder has requested be included in such Underwritten Shelf Takedown); provided that, if the Sponsor
or the Holders, as applicable, elect to continue an Underwritten Shelf Takedown pursuant to the proviso in the immediately preceding sentence,
such Underwritten Shelf Takedown shall instead count as an Underwritten Shelf Takedown demanded by the Sponsor or such Holder, as applicable,
for purposes of Section 2.1.4. Following the receipt of any Withdrawal Notice, the Company shall promptly forward such Withdrawal
Notice to any other Holders that had elected to participate in such Shelf Takedown. Notwithstanding anything to the contrary in this Agreement,
the Company shall be responsible for the Registration Expenses incurred in connection with a Shelf Takedown prior to its withdrawal under
this Section 2.1.6, other than if a Demanding Holder elects to pay such Registration Expenses pursuant to clause (ii) of
the second sentence of this Section 2.1.6.

 

Section 2.2              
Piggyback Registration.

 

2.2.1         
Piggyback Rights. If (but without any obligation to do so) the Company proposes to register (including for this purpose a registration
effected by the Company for holders of capital stock other than the Holders) any of its Common Stock under the Securities Act in connection
with the public offering of such securities solely for cash (other than (i) a registration relating solely to the sale of securities
to participants in a Company stock or other benefit plan, (ii) a transaction covered by Rule 145 under the Securities Act, (iii) a
registration in which the only stock being registered is Common Stock issuable upon conversion of debt securities which are also being
registered, (iv) for a dividend reinvestment plan or (v) any registration on any form which 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), then
the Company shall give written notice of such proposed offering to all of the Holders of Registrable Securities as soon as practicable
but not less than ten (10) days before the anticipated filing date of such Registration Statement or, in the case of an Underwritten
Offering pursuant to a Shelf Registration, the applicable “red herring” prospectus or prospectus supplement used for marketing
such offering, which notice shall (A) describe the amount and type of securities to be included in such offering, the intended method(s) of
distribution, and the name of the proposed managing Underwriter or Underwriters, if any, in such offering, and (B) offer to all of
the Holders of Registrable Securities the opportunity to include in such registered offering such number of Registrable Securities as
such Holders may request in writing within five (5) days after receipt of such written notice (such registered offering, a “Piggyback
Registration”). Subject to Section 2.2.2, the Company shall cause such Registrable Securities to be included
in such Piggyback Registration and, if applicable, shall use its commercially reasonable efforts to cause the managing Underwriter or
Underwriters of such Piggyback Registration to permit the Registrable Securities requested by the Holders pursuant to this Section 2.2.1
to be included therein on the same terms and conditions as any similar securities of the Company included in such registered offering
and to permit the sale or other disposition of such Registrable Securities in accordance with the intended method(s) of distribution
thereof. The inclusion of any Holder’s Registrable Securities in a Piggyback Registration shall be subject to such Holder agreement
to enter into an underwriting agreement in customary form with the Underwriter(s) selected for such Underwritten Offering.

 

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2.2.2          Reduction
of Piggyback Registration. If the total amount of securities, including Registrable Securities, requested by Holders of
Registrable Securities to be included in such offering exceeds the amount of securities sold other than by the Company that the
Underwriters determine in their reasonable discretion 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
determine in their reasonable discretion will not jeopardize the success of the offering (the securities so included to be
apportioned pro rata among the selling security holders according to the total amount of securities entitled to be included therein
owned by each selling security holder or in such other proportions as shall mutually be agreed to by such selling security holders).
For purposes of the preceding parenthetical concerning apportionment, for any selling security holder which is a Holder of
Registrable Securities and which is a partnership or corporation, the partners, retired partners and holders of capital stock of
such Holder, or the estates and family members of any such partners and retired partners and any trusts for the benefit of any of
the foregoing persons shall be deemed to be a single “selling security holder,” and any pro-rata reduction with respect
to such “selling security holder” shall be based upon the aggregate number of Registrable Securities owned by all
entities and individuals included in such “selling security holder,” as defined in this sentence.

 

2.2.3         
Piggyback Registration Withdrawal. Any Holder of Registrable Securities (other than a Demanding Holder, whose right to withdraw
from an Underwritten Shelf Takedown, and related obligations, shall be governed by Section 2.1.6) shall have the right to
withdraw from a Piggyback Registration for any or no reason whatsoever upon written notification to the Company and the Underwriter or
Underwriters (if any) of his, her or its intention to withdraw from such Piggyback Registration prior to the effectiveness of the Registration
Statement filed with the Commission with respect to such Piggyback Registration or, in the case of a Piggyback Registration pursuant to
a Shelf Registration, the filing of the applicable “red herring” prospectus or prospectus supplement with respect to such
Piggyback Registration used for marketing such transaction. The Company (whether on its own good faith determination or as the result
of a request for withdrawal by persons or entities pursuant to separate written contractual obligations) may withdraw a Registration Statement
filed with the Commission in connection with a Piggyback Registration (which, in no circumstance, shall include a Shelf) at any time prior
to the effectiveness of such Registration Statement. Notwithstanding anything to the contrary in this Agreement (other than Section 2.1.6),
the Company shall be responsible for the Registration Expenses incurred in connection with the Piggyback Registration prior to its withdrawal
under this Section 2.2.3.

 

2.2.4         
Unlimited Piggyback Registration Rights. For purposes of clarity, subject to Section 2.1.6, any Piggyback Registration
effected pursuant to Section 2.2 hereof shall not be counted as a Demand for an Underwritten Shelf Takedown under Section 2.1.4
hereof.

 

Section 2.3              
Market Stand-off. In connection with any Underwritten Offering of equity securities of the Company (other than a Block Trade or
Other Coordinated Offering), if requested by the managing Underwriters, each Holder that is an executive officer, director or Holder in
excess of five percent (5%) of the outstanding Common Stock (and for which it is customary for such a Holder to agree to a lock-up)
agrees that it shall not Transfer any shares of Common Stock or other equity securities of the Company (other than those included in such
offering pursuant to this Agreement), without the prior written consent of the Company, during the forty-five (45)-day period (or such
shorter time agreed to by the managing Underwriters) beginning on the date of pricing of such offering, except as expressly permitted
by such lock-up agreement or in the event the managing Underwriters otherwise agree by written consent; provided, however,
with respect to the first Underwritten Offering following the Closing, if the managing Underwriters, in their reasonable discretion, advise
the Company in writing that a lock-up restriction of a period of forty-five (45) or fewer days would have a material adverse impact
on such Underwritten Offering, then such lock-up restrictions shall be for the number of days such managing Underwriters so advise,
not to exceed a period of ninety (90) days from the date of the pricing of any such Underwritten Offering. Each such Holder agrees
to execute a customary lock-up agreement in favor of the Underwriters to such effect (in each case on substantially the same terms and
conditions as all such Holders).

 

Section 2.4              
Block Trades; Other Coordinated Offerings.

 

2.4.1         
Notwithstanding any other provision of this Article II, but subject to Section 3.4, at any time and from time
to time when an effective Shelf is on file with the Commission, if a Demanding Holder wishes to engage in (a) an underwritten registered
offering not involving a “roadshow,” an offer commonly known as a “block trade” (a “Block Trade”)
or (b) an “at the market” or similar registered offering through a broker, sales agent or distribution agent, whether
as agent or principal, (an “Other Coordinated Offering”), in each case, with an anticipated aggregate offering
price of, either (x) at least $50 million or (y) all remaining Registrable Securities held by the Demanding Holder, then such
Demanding Holder only needs to notify the Company of the Block Trade or Other Coordinated Offering at least five (5) business days
prior to the day such offering is to commence and the Company shall as expeditiously as possible use its commercially reasonable efforts
to facilitate such Block Trade or Other Coordinated Offering; provided that the Demanding Holders representing a majority of the
Registrable Securities wishing to engage in the Block Trade or Other Coordinated Offering shall use commercially reasonable efforts to
work with the Company and any Underwriters, brokers, sales agents or placement agents prior to making such request in order to facilitate
preparation of the registration statement, prospectus and other offering documentation related to the Block Trade or Other Coordinated
Offering.

 

2.4.2         
Prior to the filing of the applicable “red herring” prospectus or prospectus supplement used in connection with a Block Trade
or Other Coordinated Offering, a majority-in-interest of the Demanding Holders initiating such Block Trade or Other Coordinated Offering
shall have the right to submit a Withdrawal Notice to the Company, the Underwriter or Underwriters (if any) and any brokers, sale agents
or placement agents (if any) of their intention to withdraw from such Block Trade or Other Coordinated Offering. Notwithstanding anything
to the contrary in this Agreement, the Company shall be responsible for the Registration Expenses incurred in connection with a Block
Trade or Other Coordinated Offering prior to its withdrawal under this Section 2.4.2.

 

    	 	7	 

     

    

 

2.4.3         
Notwithstanding anything to the contrary in this Agreement, Section 2.2 shall not apply to a Block Trade or Other Coordinated
Offering initiated by a Demanding Holder pursuant to this Agreement.

 

2.4.4         
The Demanding Holder in a Block Trade or Other Coordinated Offering shall have the right to select the Underwriters and any brokers, sale
agents or placement agents (if any) for such Block Trade or Other Coordinated Offering (in each case, which shall consist of one or more
reputable nationally recognized investment banks).

 

2.4.5         
A Holder may demand no more than two (2) Block Trades or Other Coordinated Offerings pursuant to this Section 2.4 in
any twelve (12) month period. For the avoidance of doubt, any Block Trade or Other Coordinated Offering effected pursuant to this
Section 2.4 shall not be counted as a demand for an Underwritten Shelf Takedown pursuant to Section 2.1.4 hereof.

 

ARTICLE III

 

COMPANY PROCEDURES

 

Section 3.1              
General Procedures. In connection with any Shelf and/or Shelf Takedown, the Company shall use its commercially reasonable efforts
to effect such Registration to permit the sale of such Registrable Securities in accordance with the intended plan of distribution thereof
(and including all manners of distribution in such Registration Statement as Holders may reasonably request in connection with the filing
of such Registration Statement and as permitted by law, including distribution of Registrable Securities to a Holder’s members,
security holders or partners), and pursuant thereto the Company shall, as expeditiously as possible:

 

3.1.1         
prepare and file with the Commission as soon as practicable a Registration Statement with respect to such Registrable Securities and use
its commercially reasonable efforts to cause such Registration Statement to become effective and remain effective until all Registrable
Securities have ceased to be Registrable Securities, in each case, in accordance with Section 2.1.1;

 

3.1.2         
prepare and file with the Commission such amendments and post-effective amendments to the Registration Statement, and such supplements
to the Prospectus, as may be reasonably requested by any Holder that holds at least five percent (5%) of the Registrable Securities
registered on such Registration Statement or any Underwriter of Registrable Securities or as may be required by the rules, regulations
or instructions applicable to the registration form used by the Company or by the Securities Act or rules and regulations thereunder
to keep the Registration Statement effective until all Registrable Securities covered by such Registration Statement are sold;

 

3.1.3         
prior to filing a Registration Statement or Prospectus, or any amendment or supplement thereto, furnish without charge to the Underwriters,
if any, and the Holders of Registrable Securities included in such Registration, and such Holders’ legal counsel, copies of such
Registration Statement as proposed to be filed, each amendment and supplement to such Registration Statement (in each case including all
exhibits thereto and documents incorporated by reference therein), the Prospectus included in such Registration Statement (including each
preliminary Prospectus), and such other documents as the Underwriters and the Holders of Registrable Securities included in such Registration
or the legal counsel for any such Holders may request in order to facilitate the disposition of the Registrable Securities owned by such
Holders;

 

3.1.4         
prior to any public offering of Registrable Securities, use its commercially reasonable efforts to (i) register or qualify the Registrable
Securities covered by the Registration Statement under such securities or “blue sky” laws of such jurisdictions in the United
States as the Holders of Registrable Securities included in such Registration Statement (in light of their intended plan of distribution)
may request (or provide evidence satisfactory to such Holders that the Registrable Securities are exempt from such registration or qualification)
and (ii) take such action necessary to cause such Registrable Securities covered by the Registration Statement to be registered with
or approved by such other governmental authorities as may be necessary by virtue of the business and operations of the Company and do
any and all other acts and things that may be necessary or advisable to enable the Holders of Registrable Securities included in such
Registration Statement to consummate the disposition of such Registrable Securities in such jurisdictions; provided, however,
that the Company shall not be required to qualify generally to do business in any jurisdiction where it would not otherwise be required
to qualify or take any action to which it would be subject to general service of process or taxation in any such jurisdiction where it
is not then otherwise so subject;

 

3.1.5         
cause all such Registrable Securities to be listed on each national securities exchange on which similar securities issued by the Company
are then listed;

 

3.1.6         
provide a transfer agent or warrant agent, as applicable, and registrar for all such Registrable Securities no later than the effective
date of such Registration Statement;

 

    	 	8	 

     

    

 

3.1.7         
advise each seller of such Registrable Securities, promptly after it shall receive notice or obtain knowledge thereof, of the issuance
of any stop order by the Commission suspending the effectiveness of such Registration Statement or the initiation or threatening of any
proceeding for such purpose and promptly use its commercially reasonable efforts to prevent the issuance of any stop order or to obtain
its withdrawal if such stop order should be issued;

 

3.1.8         
at least five (5) days prior to the filing of any Registration Statement or Prospectus or any amendment or supplement to such Registration
Statement or Prospectus (or such shorter period of time as may be (a) necessary in order to comply with the Securities Act, the Exchange
Act, and the rules and regulations promulgated under the Securities Act or Exchange Act, as applicable or (b) advisable in order
to reduce the number of days that sales are suspended pursuant to Section 3.4), furnish a copy thereof to each seller
of such Registrable Securities or its counsel (excluding any exhibits thereto and any filing made under the Exchange Act that is to be
incorporated by reference therein);

 

3.1.9        
promptly notify the Holders in writing at any time when a Prospectus relating to such Registration Statement is required to be delivered
under the Securities Act, of the happening of any event as a result of which the Prospectus included in such Registration Statement, as
then in effect, includes a Misstatement, and then to correct such Misstatement as set forth in Section 3.4;

 

3.1.10       in
the event of an Underwritten Offering, a Block Trade, an Other Coordinated Offering, or sale by a broker, placement agent or sales agent
pursuant to such Registration, permit a representative of the Holders, the Underwriters or other financial institutions facilitating such
Underwritten Offering, Block Trade, Other Coordinated Offering or other sale pursuant to such Registration, if any, and any attorney,
consultant or accountant retained by such Holders or Underwriter to participate, at each such person’s or entity’s own expense,
in the preparation of the Registration Statement, and cause the Company’s officers, directors and employees to supply all information
reasonably requested by any such representative, Underwriter, financial institution, attorney, consultant or accountant in connection
with the Registration; provided, however, that such representatives, Underwriters or financial institutions agree to confidentiality
arrangements in form and substance reasonably satisfactory to the Company, prior to the release or disclosure of any such information;

 

3.1.11       obtain
a “cold comfort” letter from the Company’s independent registered public accountants in the event of an Underwritten
Offering, a Block Trade, an Other Coordinated Offering or sale by a broker, placement agent or sales agent pursuant to such Registration
(subject to such broker, placement agent or sales agent providing such certification or representation reasonably requested by the Company’s
independent registered public accountants and the Company’s counsel) in customary form and covering such matters of the type customarily
covered by “cold comfort” letters as the managing Underwriter may reasonably request, and reasonably satisfactory to a majority-in-interest
of the participating Holders;

 

3.1.12       in
the event of an Underwritten Offering, a Block Trade, an Other Coordinated Offering or sale by a broker, placement agent or sales agent
pursuant to such Registration, on the date the Registrable Securities are delivered for sale pursuant to such Registration, obtain an
opinion, dated such date, of counsel representing the Company for the purposes of such Registration, addressed to the participating Holders,
the broker, placement agents or sales agent, if any and the Underwriters, if any, covering such legal matters with respect to the Registration
in respect of which such opinion is being given as the participating Holders, broker, placement agent, sales agent or Underwriter may
reasonably request and as are customarily included in such opinions and negative assurance letters, as applicable;

 

3.1.13       in
the event of any Underwritten Offering, a Block Trade, an Other Coordinated Offering or sale by a broker, placement agent or sales agent
pursuant to such Registration, enter into and perform its obligations under an underwriting or other purchase or sales agreement, in usual
and customary form, with the managing Underwriter or the broker, placement agent or sales agent of such offering or sale;

 

3.1.14       make
available to its security holders, as soon as reasonably practicable, an earnings statement covering the period of at least twelve (12) months
beginning with the first day of the Company’s first full calendar quarter after the effective date of the Registration Statement
which satisfies the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder (or any successor rule then
in effect);

 

3.1.15       with
respect to an Underwritten Offering pursuant to Section 2.1.4, use its commercially reasonable efforts to make available senior
executives of the Company to participate in customary “road show” presentations that may be reasonably requested by the Underwriter
in such Underwritten Offering; and

 

3.1.16       
otherwise, in good faith, cooperate reasonably with, and take such customary actions as may reasonably be requested by the participating
Holders, consistent with the terms of this Agreement, in connection with such Registration.

 

    	 	9	 

     

    

 

Notwithstanding the foregoing, the Company shall
not be required to provide any documents or information to an Underwriter or broker, sales agent or placement agent if such Underwriter
or broker, sales agent or placement agent has not then been named with respect to the applicable Underwritten Offering or other offering
involving a registration as an Underwriter or broker, sales agent or placement agent, as applicable.

 

Section 3.2              
Registration Expenses. The Registration Expenses of all Registrations shall be borne by the Company. It is acknowledged by the
Holders that the Holders shall bear all incremental selling expenses relating to the sale of Registrable Securities, such as Underwriters’
commissions and discounts, brokerage fees, Underwriter marketing costs and, other than as set forth in the definition of “Registration
Expenses,” all fees and expenses of any legal counsel representing the Holders.

 

Section 3.3              
Requirements for Participation in Registration Statement in Offerings. Notwithstanding anything in this Agreement to the contrary,
if any Holder does not provide the Company with its requested Holder Information, the Company may exclude such Holder’s Registrable
Securities from the applicable Registration Statement or Prospectus if the Company determines, based on the advice of counsel, that such
information is necessary to effect the registration of the applicable Registration Statement or Prospectus and such Holder continues thereafter
to withhold such information. No person or entity may participate in any Underwritten Offering or other offering for equity securities
of the Company pursuant to a Registration initiated by the Company hereunder unless such person or entity (i) agrees to sell such
person’s or entity’s securities on the basis provided in any underwriting, sales, distribution or placement arrangements approved
by the Company and (ii) completes and executes all customary questionnaires, powers of attorney, indemnities, lock-up agreements,
underwriting or other agreements and other customary documents as may be reasonably required under the terms of such underwriting, sales,
distribution or placement arrangements. The exclusion of a Holder’s Registrable Securities as a result of this Section 3.3
shall not affect the registration of the other Registrable Securities to be included in such Registration.

 

Section 3.4              
Suspension of Sales; Adverse Disclosure; Restrictions on Registration Rights.

 

3.4.1         
Upon receipt of written notice from the Company that a Registration Statement or Prospectus contains a Misstatement, each of the Holders
shall forthwith discontinue disposition of Registrable Securities until it has received copies of a supplemented or amended Prospectus
correcting the Misstatement (it being understood that the Company hereby covenants to prepare and file such supplement or amendment as
soon as practicable after the time of such notice), or until it is advised in writing by the Company that the use of the Prospectus may
be resumed.

 

3.4.2         
If the filing, initial effectiveness or continued use of a Registration Statement in respect of any Registration at any time would (a) require
the Company to make an Adverse Disclosure, (b) require the inclusion in such Registration Statement of financial statements that
are unavailable to the Company for reasons beyond the Company’s control or (c) in the good faith judgment of the Board, be
seriously detrimental to the Company and its holders of capital stock and it is therefore essential to defer such filing, initial effectiveness
or continued use at such time, the Company shall have the right, upon giving prompt written notice of such action to the Holders (which
notice shall not specify the nature of the event giving rise to such delay or suspension), delay the filing or initial effectiveness of,
or suspend use of, such Registration Statement for the shortest period of time determined in good faith by the Company to be necessary
for such purpose. In the event the Company exercises its rights under this Section 3.4.2, the Holders agree to suspend, immediately
upon their receipt of the notice referred to above, their use of the Prospectus relating to any Registration in connection with any sale
or offer to sell Registrable Securities until such Holder receives written notice from the Company that such sales or offers of Registrable
Securities may be resumed, and in each case maintain the confidentiality of such notice and its contents.

 

3.4.3         
(a) During the period starting with the date ninety (90) days prior to the Company’s good faith estimate of the date of
the filing of, and ending on a date ninety (90) days after the effective date of, a Company-initiated Registration and provided that
the Company continues to actively employ, in good faith, all reasonable efforts to maintain the effectiveness of the applicable Shelf
Registration Statement, or (b) if, pursuant to Section 2.1.4, Holders have requested an Underwritten Shelf Takedown and
the Company and Holders are unable to obtain the commitment of Underwriters to firmly underwrite such offering, the Company may, upon
giving prompt written notice of such action to the Holders, delay any other registered offering pursuant to Section 2.1.4
or Section 2.4 for not more than ninety (90) consecutive calendar days or more than one hundred twenty (120) total calendar days
in each case during any twelve (12)-month period.

 

    	 	10	 

     

    

 

Section 3.5               Reporting
Obligations. As long as any Holder shall own Registrable Securities, the Company, at all times while it shall be a reporting
company under the Exchange Act, covenants to file timely (or obtain extensions in respect thereof and file within the applicable
grace period) all reports required to be filed by the Company after the date hereof pursuant to Sections 13(a) or 15(d) of
the Exchange Act and to promptly furnish the Holders with true and complete copies of all such filings; provided that any
documents publicly filed or furnished with the Commission pursuant to the Electronic Data Gathering, Analysis and Retrieval System
shall be deemed to have been furnished or delivered to the Holders pursuant to this Section 3.5. The Company further
covenants that it shall take such further action as any Holder may reasonably request, all to the extent required from time to time
to enable such Holder to sell the Registrable Securities held by such Holder without registration under the Securities Act within
the limitation of the exemptions provided by Rule 144 promulgated under the Securities Act (or any successor rule then in
effect). Upon the request of any Holder, the Company shall deliver to such Holder a written certification of a duly authorized
officer as to whether it has complied with such requirements.

 

ARTICLE IV

 

INDEMNIFICATION AND CONTRIBUTION

 

Section 4.1              
Indemnification.

 

4.1.1         
The Company agrees to indemnify, to the extent permitted by law, each Holder of Registrable Securities, its officers, managers, directors,
affiliates, and agents and each person or entity who controls such Holder (within the meaning of the Securities Act), against all losses,
claims, damages, liabilities and out-of-pocket expenses (including, without limitation, reasonable outside attorneys’ fees) caused
by, resulting from, arising out of or based upon any untrue or alleged untrue statement of material fact contained in or incorporated
by reference in any Registration Statement, Prospectus or preliminary Prospectus or any amendment thereof or supplement thereto or any
omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein, in the case
of the Prospectus or preliminary Prospectus in the light of the circumstances under which they were made, not misleading, except insofar
as the same are caused by or contained in any information or affidavit so furnished in writing to the Company by or on behalf of such
Holder expressly for use therein. The Company shall indemnify the Underwriters, their officers and directors and each person or entity
who controls such Underwriters (within the meaning of the Securities Act) to the same extent as provided in the foregoing with respect
to the indemnification of the Holder.

 

4.1.2         
In connection with any Registration Statement in which a Holder of Registrable Securities is participating, such Holder shall furnish
(or cause to be furnished) to the Company in writing such information and affidavits as the Company reasonably requests for use in connection
with any such Registration Statement, Prospectus or preliminary Prospectus (the “Holder Information”) and, to
the extent permitted by law, shall indemnify the Company, its officers, managers, directors, affiliates and agents and each person or
entity who controls the Company (within the meaning of the Securities Act) against all losses, claims, damages, liabilities and out-of-pocket
expenses (including, without limitation, reasonable outside attorneys’ fees) resulting from any untrue or alleged untrue statement
of material fact contained or incorporated by reference in any Registration Statement, Prospectus or preliminary Prospectus or any amendment
thereof or supplement thereto or any omission or alleged omission of a material fact required to be stated therein or necessary to make
the statements therein, in the case of the Prospectus or preliminary Prospectus in the light of the circumstances under which they were
made, not misleading, but only to the extent that such untrue statement or omission is contained in (or not contained in, in the case
of an omission) any information or affidavit so furnished in writing by or on behalf of such Holder expressly for use therein; provided,
however, that the obligation to indemnify shall be several, not joint and several, among such Holders of Registrable Securities,
and the liability of each such Holder of Registrable Securities shall be in proportion to and limited to the net proceeds received by
such Holder from the sale of Registrable Securities pursuant to such Registration Statement. The Holders of Registrable Securities shall
indemnify the Underwriters, their officers, directors and each person or entity who controls such Underwriters (within the meaning of
the Securities Act) to the same extent as provided in the foregoing with respect to indemnification of the Company.

 

4.1.3         
Any person or entity entitled to indemnification herein shall (i) give prompt written notice to the indemnifying party of any claim
with respect to which it seeks indemnification (provided that the failure to give prompt notice shall not impair any person’s or
entity’s right to indemnification hereunder to the extent such failure has not materially prejudiced the indemnifying party) and
(ii) unless in such indemnified party’s reasonable judgment a conflict of interest between such indemnified and indemnifying
parties may exist with respect to such claim, permit such indemnifying party to assume the defense of such claim with counsel reasonably
satisfactory to the indemnified party. If such defense is assumed, the indemnifying party shall not be subject to any liability for any
settlement made by the indemnified party without its consent (but such consent shall not be unreasonably withheld). An indemnifying party
who is not entitled to, or elects not to, assume the defense of a claim shall not be obligated to pay the fees and expenses of more than
one counsel for all parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment of any
indemnified party a conflict of interest may exist between such indemnified party and any other of such indemnified parties with respect
to such claim. No indemnifying party shall, without the consent of the indemnified party, consent to the entry of any judgment or enter
into any settlement which cannot be settled in all respects by the payment of money (and such money is so paid by the indemnifying party
pursuant to the terms of such settlement) or which settlement includes a statement or admission of fault and culpability on the part of
such indemnified party or which settlement does not include as an unconditional term thereof the giving by the claimant or plaintiff to
such indemnified party of a release from all liability in respect to such claim or litigation.

 

    	 	11	 

     

    

 

4.1.4         
The indemnification provided for under this Agreement shall remain in full force and effect regardless of any investigation made by
or on behalf of the indemnified party or any officer, director or controlling person or entity of such indemnified party and shall
survive the Transfer of securities. The Company and each Holder of Registrable Securities participating in an offering also agrees
to make such provisions as are reasonably requested by any indemnified party for contribution to such party in the event the
Company’s or such Holder’s indemnification is unavailable for any reason.

 

4.1.5         
If the indemnification provided under Section 4.1 from the indemnifying party is unavailable or insufficient to hold harmless
an indemnified party in respect of any losses, claims, damages, liabilities and out-of-pocket expenses referred to herein, then the indemnifying
party, in lieu of indemnifying the indemnified party, shall contribute to the amount paid or payable by the indemnified party as a result
of such losses, claims, damages, liabilities and out-of-pocket expenses in such proportion as is appropriate to reflect the relative fault
of the indemnifying party and the indemnified party, as well as any other relevant equitable considerations. The relative fault of the
indemnifying party and indemnified party shall be determined by reference to, among other things, whether any action in question, including
any untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact, was made by (or not
made by, in the case of an omission), or relates to information supplied by (or not supplied by in the case of an omission), such indemnifying
party or indemnified party, and the indemnifying party’s and indemnified party’s relative intent, knowledge, access to information
and opportunity to correct or prevent such action; provided, however, that the liability of any Holder under this Section 4.1.5
shall be limited to the amount of the net proceeds received by such Holder in such offering giving rise to such liability. The amount
paid or payable by a party as a result of the losses or other liabilities referred to above shall be deemed to include, subject to the
limitations set forth in Section 4.1.1, Section 4.1.2 and Section 4.1.3 above, any legal or other
fees, charges or out-of-pocket expenses reasonably incurred by such party in connection with any investigation or proceeding. The parties
hereto agree that it would not be just and equitable if contribution pursuant to this Section 4.1.5 were determined by pro
rata allocation or by any other method of allocation, which does not take account of the equitable considerations referred to in this
Section 4.1.5. No person or entity guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of
the Securities Act) shall be entitled to contribution pursuant to this Section 4.1.5 from any person or entity who was not
guilty of such fraudulent misrepresentation.

 

ARTICLE V

 

LOCK UP

 

5.1.1        
Subject to Section 5.1.2 below, the holders (the “Lock-up Holders”) of any shares of Common Stock
issued to the Sponsor prior to the Closing Date or to Mondee LLC in connection with the Business Combination Agreement or to Earn-Out
Holders in connection with the Earn-Out Agreement, may not Transfer any Lock-up Shares until the end of the Lock-up Period (the “Lock-up”).

 

5.1.2         
Notwithstanding the provisions set forth in Section 5.1.1 above, the Lock-up Holders may Transfer the Lock-up Shares during
the Lock-up Period (i) as a bona fide gift or charitable contribution; (ii) to a trust, or other entity formed for estate planning
purposes for the primary benefit of the spouse, domestic partner, parent, sibling, child or grandchild of such Lock-up Holder or any other
person with whom such Lock-up Holder has a relationship by blood, marriage or adoption not more remote than first cousin; (iii) by
will or intestate succession upon the death of the Lock-up Holder; (iv) pursuant to a qualified domestic order, court order or in
connection with a divorce settlement; (v) if such Lock-up Holder is a corporation, partnership (whether general, limited or otherwise),
limited liability company, trust or other business entity, (A) to another corporation, partnership, limited liability company, trust
or other business entity that controls, is controlled by or is under common control or management with the Lock-up Holder, or (B) to
partners, limited liability company members, Earn-Out Holders or stockholders of the Lock-up Holder, including, for the avoidance of doubt,
where the Lock-up Holder is a partnership, to its general partner or a successor partnership or fund, or any other funds managed by such
partnership; (C) by virtue of the laws of the state or jurisdiction of the entity’s organization and the entity’s organizational
documents upon dissolution of the entity; (vi) pursuant to transactions in the event of completion of a liquidation, merger, consolidation,
stock exchange, reorganization, tender offer or other similar transaction which results in all of the corporation’s security holders
having the right to exchange their shares of Common Stock for cash, securities or other property; (vii) to satisfy tax withholding
obligations in connection with the exercise of options or warrants to purchase shares of Common Stock of the corporation or the vesting
of stock-based awards; (viii) in payment on a “net exercise” or “cashless” basis of the exercise or purchase
price with respect to the exercise of options or warrants to purchase shares of Common Stock of the corporation; (ix) pursuant to
transactions relating to Common Stock or other securities convertible into or exercisable or exchangeable for Common Stock acquired in
open market transactions after the Closing Date, provided that no such transaction is required to be, or is, publicly announced
(whether on Form 4, Form 5 or otherwise, other than a required filing on Schedule 13F, 13G or 13G/A) during the Lock-up Period;
or (x) in connection with the grant and maintenance of a bona fide lien, security interest, pledge or other similar encumbrance to
a nationally or internationally recognized financial institution with assets of not less than $10 billion in connection with a loan; provided
that the Lock-up Holder shall provide the Company prior written notice informing them of any public filing, report or announcement made
by or on behalf of the Lock-up Holder with respect thereto.

 

    	 	12	 

     

    

 

ARTICLE VI

 

MISCELLANEOUS

 

Section 6.1              
Notices. Any notice or communication under this Agreement must be in writing and given by (i) deposit in the United States
mail, addressed to the party to be notified, postage prepaid and registered or certified with return receipt requested, (ii) delivery
in person or by courier service providing evidence of delivery, or (iii) transmission by hand delivery, electronic mail or facsimile.
Each notice or communication that is mailed, delivered, or transmitted in the manner described above shall be deemed sufficiently given,
served, sent, and received, in the case of mailed notices, on the third business day following the date on which it is mailed and, in
the case of notices delivered by courier service, hand delivery, electronic mail or facsimile, at such time as it is delivered to the
addressee (with the delivery receipt or the affidavit of messenger) or at such time as delivery is refused by the addressee upon presentation.
Any notice or communication under this Agreement must be addressed, if to the Company, to: Mondee Holdings, Inc., 951 Mariners Island
Blvd., Ste. 130, San Mateo, CA 94404 Attn: Dan Figenshu, and, if to any Holder, at such Holder’s address, electronic mail address
or facsimile number as set forth in the Company’s books and records. Any party may change its address for notice at any time and
from time to time by written notice to the other parties hereto, and such change of address shall become effective thirty (30) days
after delivery of such notice as provided in this Section 6.1.

 

Section 6.2              
Assignment; No Third-Party Beneficiaries.

 

6.2.1         
This Agreement and the rights, duties and obligations of the Company hereunder may not be assigned or delegated by the Company in whole
or in part.

 

6.2.2         
Subject to Section 6.2.4 and Section 6.2.5, this Agreement and the rights, duties and obligations of a Holder
hereunder may be assigned in whole or in part to such Holder’s Permitted Transferees; provided, that, with respect to the
Holders and the Sponsor, the rights hereunder that are personal to such Holders and may not be assigned or delegated in whole or in part,
except that (w) each of the Holders shall be permitted to transfer its rights hereunder as such Holders to one or more affiliates
or any direct or indirect partners, members or equity holders of such Holder (it being understood that no such transfer shall reduce any
rights of such Holder or such transferees) and (x) the Sponsor shall be permitted to transfer its rights hereunder as the Sponsor
to one or more Permitted Transferees of the Sponsor (it being understood that no such transfer shall reduce any rights of the Sponsor
or such transferees).

 

6.2.3         
This Agreement and the provisions hereof shall be binding upon and shall inure to the benefit of each of the parties and its successors
and the permitted assigns of the Holders, which shall include Permitted Transferees.

 

6.2.4         
This Agreement shall not confer any rights or benefits on any persons or entities that are not parties hereto, other than as expressly
set forth in this Agreement and Section 6.2.

 

6.2.5         
No assignment by any party hereto of such party’s rights, duties and obligations hereunder shall be binding upon or obligate the
Company unless and until the Company shall have received (i) written notice of such assignment as provided in Section 6.1
hereof and (ii) the written agreement of the assignee, in a form reasonably satisfactory to the Company, to be bound by the terms
and provisions of this Agreement (which may be accomplished by an addendum or certificate of joinder to this Agreement). Any transfer
or assignment made other than as provided in this Section 6.2 shall be null and void.

 

Section 6.3              
Counterparts. This Agreement may be executed in multiple counterparts (including facsimile or PDF counterparts), each of which
shall be deemed an original, and all of which together shall constitute the same instrument, but only one of which need be produced. The
words “execution,” “signed,” “signature,” “delivery,” and words of like import in or relating
to this Agreement or any document to be signed in connection with this Agreement shall be deemed to include electronic signatures, deliveries
or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually
executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be, and the parties hereto
consent to conduct the transactions contemplated hereunder by electronic means.

 

Section 6.4              
Governing Law; Venue. NOTWITHSTANDING THE PLACE WHERE THIS AGREEMENT MAY BE EXECUTED BY ANY OF THE PARTIES HERETO, THE PARTIES
EXPRESSLY AGREE THAT (1) THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED UNDER THE LAWS OF THE STATE OF NEW YORK AND (2) THE
VENUE FOR ANY ACTION TAKEN WITH RESPECT TO THIS AGREEMENT SHALL BE ANY STATE OR FEDERAL COURTS SITTING IN NEW YORK COUNTY IN THE STATE
OF NEW YORK.

 

    	 	13	 

     

    

 

Section 6.5               TRIAL
BY JURY. EACH PARTY HERETO ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY THAT MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO
INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND, THEREFORE, EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT TO ANY ACTION DIRECTLY
OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS
AGREEMENT. EACH OF THE PARTIES (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT, OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED,
EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THAT FOREGOING WAIVER AND
(B) ACKNOWLEDGES THAT IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY, BY AMONG OTHER
THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 6.5.

 

Section 6.6              
Amendments and Modifications. Upon the written consent of (a) the Company and (b) the Holders of a majority of the total
Registrable Securities, compliance with any of the provisions, covenants and conditions set forth in this Agreement may be waived, or
any of such provisions, covenants or conditions may be amended or modified; provided, however, that notwithstanding the
foregoing, any amendment hereto or waiver hereof shall also require the written consent of each Holder so long as such Holder and its
affiliates hold, in the aggregate, at least five percent (5%) of the outstanding shares of Common Stock of the Company; and provided,
further, that any amendment hereto or waiver hereof that adversely affects one Holder, solely in its capacity as a holder of the
shares of capital stock of the Company, in a manner that is materially different from the other Holders (in such capacity) shall require
the consent of the Holder so affected. No course of dealing between any Holder or the Company and any other party hereto or any failure
or delay on the part of a Holder or the Company in exercising any rights or remedies under this Agreement shall operate as a waiver of
any rights or remedies of any Holder or the Company. No single or partial exercise of any rights or remedies under this Agreement by a
party shall operate as a waiver or preclude the exercise of any other rights or remedies hereunder or thereunder by such party.

 

Section 6.7              
Other Registration Rights. Other than (i) the Third-Party Investors who have registration rights with respect to their Investor
Shares pursuant to their respective Subscription Agreements, the Company represents and warrants that no person or entity, other than
a Holder of Registrable Securities, has any right to require the Company to register any securities of the Company for sale or to include
such securities of the Company in any Registration Statement filed by the Company for the sale of securities for its own account or for
the account of any other person or entity. For so long as any Holder and such Holder’s affiliates hold, in the aggregate, at least
five percent (5%) of the outstanding shares of Common Stock of the Company, the Company hereby agrees and covenants that it will
not grant rights to register any Common Stock (or securities convertible into or exchangeable for Common Stock) under the Securities Act
pursuant to which such grantee would have more favorable Demands or treatment with respect to pro rata reduction than those granted to
the Holders hereunder without the prior written consent of such Holder.

 

Section 6.8             
Term. This Agreement shall terminate on the earlier of (a) the fifth anniversary of the date of this Agreement or (b) with
respect to any Holder, on the date that such Holder no longer holds any Registrable Securities. The provisions of Section 3.5
and Article IV shall survive any termination.

 

Section 6.9              
Holder Information. Each Holder agrees, if requested in writing, to represent to the Company the total number of Registrable Securities
held by such Holder in order for the Company to make determinations hereunder.

 

Section 6.10           
Additional Holders; Joinder. In addition to persons or entities who may become Holders pursuant to Section 6.2 hereof,
subject to the prior written consent of each of the Holders of a majority of the total Registrable Securities (in each case, so long as
such Holder and its affiliates hold, in the aggregate, at least five percent (5%) of the outstanding shares of Common Stock of the
Company), the Company may make any person or entity who acquires Common Stock or rights to acquire Common Stock after the date hereof
a party to this Agreement (each such person or entity, an “Additional Holder”) by obtaining an executed joinder
to this Agreement from such Additional Holder in the form of Exhibit A attached hereto (a “Joinder”).
Such Joinder shall specify the rights and obligations of the applicable Additional Holder under this Agreement. Upon the execution and
delivery and subject to the terms of a Joinder by such Additional Holder, the Common Stock of the Company then owned, or underlying any
rights then owned, by such Additional Holder (the “Additional Holder Common Stock”) shall be Registrable Securities
to the extent provided herein and therein and such Additional Holder shall be a Holder under this Agreement with respect to such Additional
Holder Common Stock.

 

Section 6.11           
Severability. It is the desire and intent of the parties that the provisions of this Agreement be enforced to the fullest extent
permissible under the laws and public policies applied in each jurisdiction in which enforcement is sought. Accordingly, if any particular
provision of this Agreement shall be adjudicated by a court of competent jurisdiction to be invalid, prohibited or unenforceable for any
reason, such provision, as to such jurisdiction, shall be ineffective, without invalidating the remaining provisions of this Agreement
or affecting the validity or enforceability of this Agreement or affecting the validity or enforceability of such provision in any other
jurisdiction. Notwithstanding the foregoing, if such provision could be more narrowly drawn so as not to be invalid, prohibited or unenforceable
in such jurisdiction, it shall, as to such jurisdiction, be so narrowly drawn, without invalidating the remaining provisions of this Agreement
or affecting the validity or enforceability of such provision in any other jurisdiction.

 

    	 	14	 

     

    

 

Section 6.12           
Entire Agreement. This Agreement constitutes the full and entire agreement and understanding between the parties with respect to
the subject matter hereof and supersedes all prior agreements and understandings relating to such subject matter.

 

[SIGNATURE PAGES FOLLOW]

 

    	 	15	 

     

    

 

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

 

	 	COMPANY:
	 	 
	 	Mondee Holdings, Inc.
	 	a Delaware corporation
	 	 
	 	By:	/s/ Prasad Gundumogula
	 	Name:	Prasad Gundumogula
	 	Title:	Chief Executive Officer
	 	 
	 	HOLDERS:
	 	 
	 	ITHAX Acquisition Sponsor LLC,
	 	a Delaware limited liability company
	 	 
	 	By: its managing member Ithaca Capital Partners 6 LLC
	 	 
	 	By:	/s/ Orestes Fintiklis
	 	Name:	Orestes Fintiklis
	 	Title:	Director
	 	 
	 	Mondee Holdings, LLC,
	 	a Delaware limited liability company
	 	 
	 	By:	/s/ Prasad Gundumogula
	 	Name:	Prasad Gundumogula
	 	Title:	Managing Member
	 	 
	 	THIRD-PARTY INVESTORS:
	 	 
	 	ARCPE 1 LLC
	 	 
	 	By:	/s/ John Olsen
	 	Name:	John Olsen
	 	Title:	Managing Member

 

	 	Asset Recovery Management
	 	 
	 	By:	 /s/ Daniel Coosemans

	 	Name:	 Daniel Coosemans

	 	Title:	 President

 

	 	Bobcat Private Holdings, LLC
	 	 
	 	By:	 /s/ Peter Berger

	 	Name:	Peter Berger

	 	Title:	 Authorized Signatory

 

     

     

    

 

	 	Cantor Fitzgerald Securities
	 	 
	 	By:	/s/ Mark Kaplan

	 	Name:	Mark Kaplan

	 	Title:	 

 

	 	Celier Investments Inc.
	 	 
	 	By:	 /s/ Sofia Ralli

	 	Name:	 Sofia Ralli

	 	Title:	 Director

 

	 	DH Deutsche Holdings Limited
	 	 
	 	By:	 /s/ Dimitris Ioannidis

	 	Name:	Dimitris Ioannidis

	 	Title:	Director

 

	 	Entertainment Benefits Group, LLC
	 	 
	 	By:	 /s/ Brett Reizen

	 	Name:	Brett Reizen

	 	Title:	CEO

 

	 	Fly OCP LLC
	 	 
	 	By:	/s/ Joelle Kellam

	 	Name:	 Joelle Kellam

	 	Title:	Authorized Signatory

 

	 	By:	/s/ Fokion Karavias

	 	Name:	Fokion Karavias

 

	 	By:	/s/ Evgenia Tzannini

	 	Name:	Evgenia Tzannini

 

	 	By:	/s/ George Chyrssikos

	 	Name:	George Chryssikos

 

	 	By:	/s/ Ryan Hetherington

	 	Name:	Ryan Hetherington

 

	 	ITHAX Acquisition Sponsor CY Ltd
	 	 
	 	By:	/s/ Notis Papageorgiou

	 	Name:	Notis Papageorgiou on behalf of NAP

	 	Directors Ltd

	 	Title:	Director of Sole Director

 

     

     

    

 

	 	By:	/s/ Konstantinos Karamanis

	 	Name:	 Konstantinos Karamanis

 

	 	By:	/s/ Kent Karpawich

	 	Name:	Kent Karpawich

 

	 	NH Credit Partners III Holdings L.P.
	 	 
	 	By:	/s/ Debra Abramovitz

	 	Name:	Debra Abramovitz

	 	Title:	Executive Director

 

	 	By:	/s/ Nigel Kneafsey

	 	Name:	 Nigel Kneafsey

 

	 	By:	 /s/ Odyssefs Athanasiou

	 	Name:	Odyssefs Athanasiou

 

	 	By:	/s/ Daniel Ostersehlte

	 	Name:	Daniel Ostersehlte

 

	 	Papaduck Investments Ltd
	 	 
	 	By:	 /s/ Marios Alexandrou

	 	Name:	Marios Alexandrou

	 	Title:	Director

 

	 	By:	/s/ Prasad Gundumogula

	 	Name:	Prasad Gundumogula

 

	 	Colby Trading Ltd.
	 	 
	 	By:	/s/ Aristeidis J. Pittas

	 	Name:	Aristeidis J. Pittas

	 	Title:	President/Director

 

	 	TRUEMAGIC TRADING LIMITED
	 	 
	 	By:	 /s/ Iliada Filaretou

	 	Name:	 Iliada Filaretou

	 	Title:	Director

 

[Signature Page to
Registration Rights Agreement]

 

    	 	16	 

     

    

 

Exhibit A

 

REGISTRATION RIGHTS AGREEMENT JOINDER

 

The undersigned is executing and delivering this
joinder (this “Joinder”) pursuant to the Registration Rights Agreement, dated as of [•], 2022 (as the
same may hereafter be amended, the “Registration Rights Agreement”), among Mondee Holdings, Inc., a Delaware
corporation (the “Company”), and the other persons or entities named as parties therein. Capitalized terms used
but not otherwise defined herein shall have the meanings provided in the Registration Rights Agreement.

 

By executing and delivering this Joinder to the
Company, and upon acceptance hereof by the Company upon the execution of a counterpart hereof, the undersigned hereby agrees to become
a party to, to be bound by, and to comply with the Registration Rights Agreement as a Holder of Registrable Securities in the same manner
as if the undersigned were an original signatory to the Registration Rights Agreement, and the undersigned’s shares of Common Stock
shall be included as Registrable Securities under the Registration Rights Agreement to the extent provided therein; provided, however,
that the undersigned and its permitted assigns (if any) shall not have any rights as Holders, and the undersigned’s (and its transferees’)
shares of Common Stock shall not be included as Registrable Securities, for purposes of the Excluded Sections.

 

For purposes of this Joinder, “Excluded
Sections” shall mean [                 ].

 

Accordingly, the undersigned
has executed and delivered this Joinder as of the                 
day of               , 2022.

 

	Signature of Stockholder	 
	 	 
	 	 
	Print Name of Stockholder	 
	 	 
	Its:	 
	Address:	 	 
	Agreed and Accepted as of	 

 

                    ,
20     

 

[                  ]

 

	By:	 	 
	Name:	 	 
	Its:	 	 

 

    	 	17Exhibit 10.4

 

INDEMNIFICATION AND ADVANCEMENT AGREEMENT

 

This Indemnification and Advancement
Agreement (“Agreement”) is made as of July 18, 2022, by and between Mondee Holdings, Inc., a Delaware corporation (the
 “Company”), and [Name], a member of the Board of Directors of the Company (“Indemnitee”). This Agreement
supersedes and replaces any and all previous Agreements between the Company and Indemnitee covering indemnification and advancement.

 

RECITALS

 

WHEREAS, the Board of Directors
of the Company (the “Board”) believes that highly competent persons have become more reluctant to serve publicly-held
corporations as directors, officers, or in other capacities unless they are provided with adequate protection through insurance or adequate
indemnification and advancement of expenses against inordinate risks of claims and actions against them arising out of their service to
and activities on behalf of the corporation;

 

WHEREAS, the Board has determined
that, in order to attract and retain qualified individuals, the Company will attempt to maintain on an ongoing basis, at its sole expense,
liability insurance to protect persons serving the Company and its subsidiaries from certain liabilities. Although the furnishing of such
insurance has been a customary and widespread practice among United States-based corporations and other business enterprises, the Company
believes that, given current market conditions and trends, such insurance may be available to it in the future only at higher premiums
and with more exclusions. At the same time, directors, officers, and other persons in service to corporations or business enterprises
are being increasingly subjected to expensive and time-consuming litigation relating to, among other things, matters that traditionally
would have been brought only against the Company or business enterprise itself. The bylaws of the Company (the “Bylaws”)
and amended and restated certificate of incorporation of the Company (the “Certificate of Incorporation”) require indemnification
of the officers and directors of the Company. Indemnitee may also be entitled to indemnification pursuant to the General Corporation Law
of the State of Delaware (the “DGCL”). The Bylaws, Certificate of Incorporation, and the DGCL expressly provide that
the indemnification provisions set forth therein are not exclusive, and thereby contemplate that contracts may be entered into between
the Company and members of the board of directors, officers and other persons with respect to indemnification and advancement of expenses;

 

WHEREAS, the uncertainties
relating to such insurance, to indemnification, and to advancement of expenses may increase the difficulty of attracting and retaining
such persons;

 

WHEREAS, the Board has determined
that the increased difficulty in attracting and retaining such persons is detrimental to the best interests of the Company and its stockholders
and that the Company should act to assure such persons that there will be increased certainty of such protection in the future;

 

WHEREAS, it is reasonable,
prudent and necessary for the Company contractually to obligate itself to indemnify, and to advance expenses on behalf of, such persons
to the fullest extent permitted by applicable law so that they will serve or continue to serve the Company free from undue concern that
they will not be so indemnified;

 

     

     

    

 

WHEREAS, this Agreement is
a supplement to and in furtherance of the Bylaws, Certificate of Incorporation and any resolutions adopted pursuant thereto, and is not
a substitute therefor, nor diminishes or abrogates any rights of Indemnitee thereunder; and

 

WHEREAS, Indemnitee does not
regard the protection available under the Bylaws, Certificate of Incorporation, DGCL and insurance as adequate in the present circumstances,
and may not be willing to serve or continue to serve as an officer or director without adequate additional protection, and the Company
desires Indemnitee to serve or continue to serve in such capacity. Indemnitee is willing to serve, continue to serve and to take on additional
service for or on behalf of the Company on the condition that Indemnitee be so indemnified and be advanced expenses.

 

NOW, THEREFORE, in consideration
of the premises and the covenants contained herein, the Company and Indemnitee do hereby covenant and agree as follows:

 

Section
1.              Services to the Company. Indemnitee agrees to serve as a director of the Company. Indemnitee may at any time and
for any reason resign from such position (subject to any other contractual obligation or any obligation imposed by operation of law).
This Agreement does not create any obligation on the Company to continue Indemnitee in such position and is not an employment contract
between the Company (or any of its subsidiaries or any Enterprise) and Indemnitee. Indemnitee specifically acknowledges that serving as
a director of the Company or any of its subsidiaries or Enterprise is at will and the Indemnitee may be discharged at any time for any
reason, with or without cause, except as may be otherwise provided in any written employment agreement between Indemnitee and the Company
(or any of its subsidiaries or Enterprise), other applicable formal severance policies duly adopted by the Board or, with respect to service
as a director or officer of the Company, by the Company's Bylaws or Certificate of Incorporation or Delaware law.

 

Section
2.              Definitions. As used in this Agreement:

 

(a)           “Agent” means any person who is authorized by the Company or an Enterprise to act for or represent the interests
of the Company or an Enterprise, respectively.

 

(b)           “Corporate Status” describes the status of a person who is or was acting as a director, officer, employee, fiduciary,
or Agent of the Company or an Enterprise.

 

(c)           “Disinterested Director” means a director of the Company who is not and was not a party to the Proceeding in
respect of which indemnification is sought by Indemnitee.

 

(d)           “Enterprise” means any other corporation, limited liability company, partnership, joint venture, trust, employee
benefit plan or other entity for which Indemnitee is or was serving at the request of the Company as a director, officer, employee, or
Agent.

 

(e)           “Exchange Act” means the Securities Exchange Act of 1934;

 

    2

     

    

 

(f)            “Expenses”
includes all reasonable attorneys’ fees, retainers, court costs, transcript costs, fees of experts and other professionals, witness
fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, any federal,
state, local or foreign taxes imposed on Indemnitee as a result of the actual or deemed receipt of any payments under this Agreement,
ERISA excise taxes and penalties, and all other disbursements or expenses of the types customarily incurred in connection with prosecuting,
defending, preparing to prosecute or defend, investigating, being or preparing to be a witness in, or otherwise participating in, a Proceeding.
Expenses also include (i) Expenses incurred in connection with any appeal resulting from any Proceeding, including without limitation
the premium, security for, and other costs relating to any cost bond, supersedeas bond, or other appeal bond or its equivalent, and (ii)
for purposes of Section 14(d) only, Expenses incurred by Indemnitee in connection with the interpretation, enforcement or defense
of Indemnitee’s rights under this Agreement, by litigation or otherwise. Expenses, however, do not include amounts paid in settlement
by Indemnitee or the amount of judgments or fines against Indemnitee.

 

(g)           “Independent Counsel” means a law firm, or a member of a law firm, that is experienced in matters of corporation
law and neither presently is, nor in the past five years has been, retained to represent: (i) the Company or Indemnitee in any matter
material to either such party (other than with respect to matters concerning the Indemnitee under this Agreement, or of other indemnitees
under similar indemnification agreements), or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder.
Notwithstanding the foregoing, the term “Independent Counsel” does not include any person who, under the applicable standards
of professional conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action
to determine Indemnitee’s rights under this Agreement.

 

(h)           The term “Proceeding” includes any threatened, pending or completed action, suit, claim, counterclaim, cross
claim, arbitration, mediation, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual,
threatened or completed proceeding, whether brought in the right of the Company or otherwise and whether of a civil, criminal, administrative,
legislative, or investigative (formal or informal) nature, including any appeal therefrom, in which Indemnitee was, is or will be involved
as a party, potential party, non-party witness or otherwise by reason of Indemnitee’s Corporate Status or by reason of any action
taken by Indemnitee (or a failure to take action by Indemnitee) or of any action (or failure to act) on Indemnitee’s part while
acting pursuant to Indemnitee’s Corporate Status, in each case whether or not serving in such capacity at the time any liability
or Expense is incurred for which indemnification, reimbursement, or advancement of Expenses can be provided under this Agreement. A Proceeding
also includes a situation the Indemnitee believes in good faith may lead to or culminate in the institution of a Proceeding.

 

Section
3.              Indemnity
in Third-Party Proceedings. The Company will indemnify Indemnitee in accordance with the provisions of this Section 3 if
Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding, other than a Proceeding by or in the
right of the Company to procure a judgment in its favor. Pursuant to this Section 3, the Company will indemnify Indemnitee to
the fullest extent permitted by applicable law against all Expenses, judgments, fines and amounts paid in settlement (including all
interest, assessments and other charges paid or payable in connection with or in respect of such Expenses, judgments, fines and
amounts paid in settlement) actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with such
Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed
to be in or not opposed to the best interests of the Company and, in the case of a criminal Proceeding had no reasonable cause to
believe that Indemnitee’s conduct was unlawful.

 

    3

     

    

 

Section
4.              Indemnity in Proceedings by or in the Right of the Company. The Company will indemnify Indemnitee in accordance with
the provisions of this Section 4 if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding by
or in the right of the Company to procure a judgment in its favor. Pursuant to this Section 4, the Company will indemnify Indemnitee
to the fullest extent permitted by applicable law against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s
behalf in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner Indemnitee
reasonably believed to be in or not opposed to the best interests of the Company. The Company will not indemnify Indemnitee for Expenses
under this Section 4 related to any claim, issue or matter in a Proceeding for which Indemnitee has been finally adjudged by a
court to be liable to the Company, unless, and only to the extent that, the Delaware Court of Chancery or any court in which the Proceeding
was brought determines upon application by Indemnitee that, despite the adjudication of liability but in view of all the circumstances
of the case, Indemnitee is fairly and reasonably entitled to indemnification.

 

Section
5.              Indemnification for Expenses of a Party Who is Wholly or Partly Successful. To the fullest extent permitted by applicable
law, the Company will indemnify Indemnitee against all Expenses actually and reasonably incurred by Indemnitee in connection with any
Proceeding the extent that Indemnitee is successful, on the merits or otherwise. If Indemnitee is not wholly successful in such Proceeding
but is successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Company
will indemnify Indemnitee against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection
with or related to each successfully resolved claim, issue or matter to the fullest extent permitted by law. For purposes of this Section
5 and without limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice,
will be deemed to be a successful result as to such claim, issue or matter.

 

Section
6.              Indemnification for Expenses of a Witness. To the fullest extent permitted by applicable law, the Company will indemnify
Indemnitee against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with any
Proceeding to which Indemnitee is not a party but to which Indemnitee is a witness, deponent, interviewee, or otherwise asked to participate.

 

Section
7.              Partial Indemnification. If Indemnitee is entitled under any provision of this Agreement to indemnification by the
Company for some or a portion of Expenses, but not, however, for the total amount thereof, the Company will indemnify Indemnitee for the
portion thereof to which Indemnitee is entitled.

 

    4

     

    

 

Section 8.              Additional
Indemnification. Notwithstanding any limitation in Sections 3, 4, or 5, the Company will indemnify Indemnitee
to the fullest extent permitted by applicable law (including but not limited to, the DGCL and any amendments to or replacements of the
DGCL adopted after the date of this Agreement that expand the Company’s ability to indemnify its officers and directors) if Indemnitee
is a party to or threatened to be made a party to any Proceeding (including a Proceeding by or in the right of the Company to procure
a judgment in its favor).

 

Section
9.              Exclusions. Notwithstanding any provision in this Agreement, the Company is not obligated under this Agreement to
make any indemnification payment to Indemnitee in connection with any Proceeding:

 

(a)            for which payment has actually been made to or on behalf of Indemnitee under any insurance policy or other indemnity provision,
except to the extent provided in Section 16(b) and except with respect to any excess beyond the amount paid under any insurance
policy or other indemnity provision; or

 

(b)           for (i) an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the
Company within the meaning of Section 16(b) of the Exchange Act or similar provisions of state statutory law or common law, (ii) any reimbursement
of the Company by the Indemnitee of any bonus or other incentive-based or equity-based compensation or of any profits realized by the
Indemnitee from the sale of securities of the Company, as required in each case under the Exchange Act (including any such reimbursements
that arise from an accounting restatement of the Company pursuant to Section 304 of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley
Act”), or the payment to the Company of profits arising from the purchase and sale by Indemnitee of securities in violation
of Section 306 of the Sarbanes-Oxley Act) or (iii) any reimbursement of the Company by Indemnitee of any compensation pursuant to any
compensation recoupment or clawback policy adopted by the Board or the compensation committee of the Board, including but not limited
to any such policy adopted to comply with stock exchange listing requirements implementing Section 10D of the Exchange Act; or

 

(c)           initiated by Indemnitee, including any Proceeding (or any part of any Proceeding) initiated by Indemnitee against the Company
or its directors, officers, employees or other indemnitees, unless (i) the Proceeding or part of any Proceeding is to enforce Indemnitee’s
rights to indemnification or advancement, of Expenses, including a Proceeding (or any part of any Proceeding) initiated pursuant to Section
14 of this Agreement, (ii) the Board authorized the Proceeding (or any part of any Proceeding) prior to its initiation or (iii) the
Company provides the indemnification, in its sole discretion, pursuant to the powers vested in the Company under applicable law.

 

Section
10.             Advances of Expenses.

 

(a)            The
Company will advance, to the extent not prohibited by law, the Expenses incurred by Indemnitee in connection with any Proceeding (or
any part of any Proceeding) not initiated by Indemnitee or any Proceeding (or any part of any Proceeding) initiated by Indemnitee if
(i) the Proceeding or part of any Proceeding is to enforce Indemnitee’s rights to obtain indemnification or advancement of
Expenses from the Company or Enterprise, including a proceeding initiated pursuant to Section 14 or (ii) the Board authorized
the Proceeding (or any part of any Proceeding) prior to its initiation. The Company will advance the Expenses within 45 days after
the receipt by the Company of a statement or statements requesting such advances from time to time, whether prior to or after final
disposition of any Proceeding.

 

    5

     

    

 

(b)           Advances will be unsecured and interest free. Indemnitee undertakes to repay the amounts advanced (without interest) to
the extent that it is ultimately determined that Indemnitee is not entitled to be indemnified by the Company, thus Indemnitee qualifies
for advances upon the execution of this Agreement and delivery to the Company. No other form of undertaking is required other than the
execution of this Agreement. The Company will make advances without regard to Indemnitee’s ability to repay the Expenses and without
regard to Indemnitee’s ultimate entitlement to indemnification under the other provisions of this Agreement.

 

Section
11.             Procedure for Notification of Claim for Indemnification or Advancement.

 

(a)            Indemnitee will notify the Company in writing of any Proceeding with respect to which Indemnitee intends to seek indemnification
or advancement of Expenses hereunder as soon as reasonably practicable following the receipt by Indemnitee of written notice thereof.
Indemnitee will include in the written notification to the Company a description of the nature of the Proceeding and the facts underlying
the Proceeding and provide such documentation and information as is reasonably available to Indemnitee and is reasonably necessary to
determine whether and to what extent Indemnitee is entitled to indemnification following the final disposition of such Proceeding. Indemnitee’s
failure to notify the Company will not relieve the Company from any obligation it may have to Indemnitee under this Agreement, and any
delay in so notifying the Company will not constitute a waiver by Indemnitee of any rights under this Agreement. The Secretary of the
Company will, promptly upon receipt of such a request for indemnification or advancement, advise the Board in writing that Indemnitee
has requested indemnification or advancement.

 

(b)           The Company will be entitled to participate in the Proceeding at its own expense.

 

Section
12.             Procedure Upon Application for Indemnification.

 

(a)           The determination of Indemnitee’s entitlement to indemnification will be made:

 

(i)            by a majority vote of the Disinterested Directors, even though less than a quorum of the Board;

 

(ii)           by a committee of Disinterested Directors designated by a majority vote of the Disinterested Directors, even though less
than a quorum of the Board;

 

    6

     

    

 

(iii)          if
there are no such Disinterested Directors or, if such Disinterested Directors so direct, by written opinion provided by Independent Counsel
selected by the Board; or

 

(iv)          if so directed by the Board, by the stockholders of the Company.

 

(b)           The party selecting Independent Counsel pursuant to subsection (a)(iii) of this Section 12 will provide written
notice of the selection to the other party. The notified party may, within ten days after receiving written notice of the selection of
Independent Counsel, deliver to the selecting party a written objection to such selection; provided, however, that such
objection may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of “Independent
Counsel” as defined in Section 2 of this Agreement, and the objection will set forth with particularity the factual basis
of such assertion. Absent a proper and timely objection, the person so selected will act as Independent Counsel. If such written objection
is so made and substantiated, the Independent Counsel so selected may not serve as Independent Counsel unless and until such objection
is withdrawn or the Delaware Court has determined that such objection is without merit. If, within 30 days after the later of submission
by Indemnitee of a written request for indemnification pursuant to Section 11(a) hereof and the final disposition of the Proceeding,
Independent Counsel has not been selected or, if selected, any objection to has not been resolved, either the Company or Indemnitee may
petition the Delaware Court for the appointment as Independent Counsel of a person selected by such court or by such other person as such
court designates. Upon the due commencement of any judicial proceeding or arbitration pursuant to Section 14(a) of this Agreement,
Independent Counsel will be discharged and relieved of any further responsibility in such capacity (subject to the applicable standards
of professional conduct then prevailing).

 

(c)           Indemnitee will cooperate with the person, persons or entity making the determination with respect to Indemnitee’s
entitlement to indemnification, including providing to such person, persons or entity upon reasonable advance request any documentation
or information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably
necessary to such determination. The Company will advance and pay any Expenses incurred by Indemnitee in so cooperating with the person,
persons or entity making the indemnification determination irrespective of the determination as to Indemnitee’s entitlement to indemnification
and the Company hereby indemnifies and agrees to hold Indemnitee harmless therefrom. The Company promptly will advise Indemnitee in writing
of the determination that Indemnitee is or is not entitled to indemnification, including a description of any reason or basis for which
indemnification has been denied and providing a copy of any written opinion provided to the Board by Independent Counsel.

 

(d)           If it is determined that Indemnitee is entitled to indemnification, the Company will make payment to Indemnitee within 30
days after such determination.

 

    7

     

    

 

Section
13.             Presumptions and Effect of Certain Proceedings.

 

(a)           In
making a determination with respect to entitlement to indemnification hereunder, the person or persons or entity making such determination
will, to the fullest extent not prohibited by law, presume Indemnitee is entitled to indemnification under this Agreement if Indemnitee
has submitted a request for indemnification in accordance with Section 11(a) of this Agreement, and the Company will, to the fullest
extent not prohibited by law, have the burden of proof to overcome that presumption. Neither the failure of the Company (including by
its directors or Independent Counsel) to have made a determination prior to the commencement of any action pursuant to this Agreement
that indemnification is proper in the circumstances because Indemnitee has met the applicable standard of conduct, nor an actual determination
by the Company (including by its directors or Independent Counsel) that Indemnitee has not met such applicable standard of conduct, will
be a defense to the action or create a presumption that Indemnitee has not met the applicable standard of conduct.

 

(b)           If the determination of the Indemnitee’s entitlement to indemnification has not made pursuant to Section 12
within 60 days after the later of (i) receipt by the Company of Indemnitee’s request for indemnification pursuant to Section
11(a) and (ii) the final disposition of the Proceeding for which Indemnitee requested Indemnification (the “Determination
Period”), the requisite determination of entitlement to indemnification will, to the fullest extent not prohibited by law, be
deemed to have been made and Indemnitee will be entitled to such indemnification, absent (i) a misstatement by Indemnitee of a material
fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading, in connection with the
request for indemnification, or (ii) a prohibition of such indemnification under applicable law. The Determination Period may be extended
for a reasonable time, not to exceed an additional 30 days, if the person, persons or entity making the determination with respect to
entitlement to indemnification in good faith requires such additional time for the obtaining or evaluating of documentation and/or information
relating thereto; and provided, further, the Determination Period may be extended an additional 15 days if the determination of entitlement
to indemnification is to be made by the stockholders pursuant to Section 12(a)(iv) of this Agreement.

 

(c)           The termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction,
or upon a plea of nolo contendere or its equivalent, will not (except as otherwise expressly provided in this Agreement) of itself
adversely affect the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and in a
manner which Indemnitee reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal
Proceeding, that Indemnitee had reasonable cause to believe that Indemnitee’s conduct was unlawful.

 

(d)           For
purposes of any determination of good faith, Indemnitee will be deemed to have acted in good faith if Indemnitee acted based on the
records or books of account of the Company, its subsidiaries, or an Enterprise, including financial statements, or on information
supplied to Indemnitee by the directors or officers of the Company, its subsidiaries, or an Enterprise in the course of their
duties, or on the advice of legal counsel for the Company, its subsidiaries, or an Enterprise or on information or records given or
reports made to the Company or an Enterprise by an independent certified public accountant or by an appraiser, financial advisor or
other expert selected with reasonable care by or on behalf of the Company, its subsidiaries, or an Enterprise. Further, Indemnitee
will be deemed to have acted in a manner “not opposed to the best interests of the Company,” as referred to in this
Agreement if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in the best interests of the
participants and beneficiaries of an employee benefit plan. The provisions of this Section 13(d) is not exclusive and does
not limit in any way the other circumstances in which the Indemnitee may be deemed to have met the applicable standard of conduct
set forth in this Agreement.

 

    8

     

    

 

(e)           The knowledge and/or actions, or failure to act, of any director, officer, trustee, partner, managing member, fiduciary,
agent or employee of the Enterprise may not be imputed to Indemnitee for purposes of determining Indemnitee’s right to indemnification
under this Agreement.

 

Section
14.             Remedies of Indemnitee.

 

(a)           Indemnitee may commence litigation against the Company in the Delaware Court of Chancery to obtain indemnification or advancement
of Expenses provided by this Agreement in the event that (i) a determination is made pursuant to Section 12 of this Agreement that
Indemnitee is not entitled to indemnification under this Agreement, (ii) the Company does not advance Expenses pursuant to Section
10 of this Agreement, (iii) the determination of entitlement to indemnification is not made pursuant to Section 12 of this Agreement
within the Determination Period, (iv) the Company does not indemnify Indemnitee pursuant to Section 5 or 6 or the second
to last sentence of Section 12(d) of this Agreement within 30 days after receipt by the Company of a written request therefor,
(v) the Company does not indemnify Indemnitee pursuant to Section 3, 4, 7, or 8 of this Agreement within 30
days after a determination has been made that Indemnitee is entitled to indemnification, or (vi) in the event that the Company or any
other person takes or threatens to take any action to declare this Agreement void or unenforceable, or institutes any litigation or other
action or Proceeding designed to deny, or to recover from, the Indemnitee the benefits provided or intended to be provided to the Indemnitee
hereunder. Indemnitee must commence such Proceeding seeking an adjudication or an award in arbitration within 180 days following the date
on which Indemnitee first has the right to commence such Proceeding pursuant to this Section 14(a); provided, however,
that the foregoing clause does not apply in respect of a Proceeding brought by Indemnitee to enforce Indemnitee’s rights under Section
5 of this Agreement. The Company will not oppose Indemnitee’s right to seek any such adjudication or award in arbitration.

 

(b)           If a determination is made pursuant to Section 12 of this Agreement that Indemnitee is not entitled to indemnification,
any judicial proceeding or arbitration commenced pursuant to this Section 14 will be conducted in all respects as a de novo
trial, or arbitration, on the merits and Indemnitee may not be prejudiced by reason of that adverse determination. In any judicial proceeding
or arbitration commenced pursuant to this Section 14 the Company will have the burden of proving Indemnitee is not entitled to
indemnification or advancement of Expenses, as the case may be, and will not introduce evidence of the determination made pursuant to
Section 12 of this Agreement.

 

    9

     

    

 

(c)           If
a determination is made pursuant to Section 12 of this Agreement that Indemnitee is entitled to indemnification, the Company will
be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 14, absent (i) a misstatement
by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading,
in connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable law.

 

(d)           The Company is, to the fullest extent not prohibited by law, precluded from asserting in any judicial proceeding or arbitration
commenced pursuant to this Section 14 that the procedures and presumptions of this Agreement are not valid, binding and enforceable
and will stipulate in any such court or before any such arbitrator that the Company is bound by all the provisions of this Agreement.

 

(e)           It is the intent of the Company that, to the fullest extent permitted by law, the Indemnitee not be required to incur legal
fees or other Expenses associated with the interpretation, enforcement or defense of Indemnitee’s rights under this Agreement by
litigation or otherwise because the cost and expense thereof would substantially detract from the benefits intended to be extended to
the Indemnitee hereunder. The Company, to the fullest extent permitted by law, will (within 30 days after receipt by the Company of a
written request therefor) advance to Indemnitee such Expenses which are incurred by Indemnitee in connection with any action concerning
this Agreement, Indemnitee’s right to indemnification or advancement of Expenses from the Company, or concerning any directors’
and officers’ liability insurance policies maintained by the Company, and will indemnify Indemnitee against any and all such Expenses
unless the court determines that each of the Indemnitee’s claims in such action were made in bad faith or were frivolous or are
prohibited by law.

 

Section
15.             Non-exclusivity; Survival of Rights; Insurance; Subrogation.

 

(a)           The indemnification and advancement of Expenses provided by this Agreement are not exclusive of any other rights to which
Indemnitee may at any time be entitled under applicable law, the Certificate of Incorporation, the Bylaws, any agreement, a vote of stockholders
or a resolution of directors, or otherwise. The indemnification and advancement of Expenses provided by this Agreement may not be limited
or restricted by any amendment, alteration or repeal of this Agreement in any way with respect to any action taken or omitted by Indemnitee
in Indemnitee’s Corporate Status occurring prior to any amendment, alteration or repeal of this Agreement. To the extent that a
change in Delaware law, whether by statute or judicial decision, permits greater indemnification or advancement of Expenses than would
be afforded currently under the Bylaws, Certificate of Incorporation, or this Agreement, it is the intent of the parties hereto that Indemnitee
enjoy by this Agreement the greater benefits so afforded by such change. No right or remedy herein conferred is intended to be exclusive
of any other right or remedy, and every other right and remedy is cumulative and in addition to every other right and remedy given hereunder
or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise,
will not prevent the concurrent assertion or employment of any other right or remedy.

 

    10

     

    

 

(b)           The
Company hereby acknowledges that Indemnitee may have certain rights to indemnification, advancement of Expenses and/or insurance provided
by one or more other Persons with whom or which Indemnitee may be associated. The relationship between the Company and such other Persons,
other than an Enterprise, with respect to the Indemnitee’s rights to indemnification, advancement of Expenses, and insurance is
described by this subsection, subject to the provisions of subsection (d) of this Section 16 with respect to a Proceeding concerning
Indemnitee’s Corporate Status with an Enterprise.

 

(i)            The Company hereby acknowledges and agrees:

 

(1)           the Company is the indemnitor of first resort with respect to any request for indemnification or advancement of Expenses
made pursuant to this Agreement concerning any Proceeding;

 

(2)           the Company is primarily liable for all indemnification and indemnification or advancement of Expenses obligations for any
Proceeding, whether created by law, organizational or constituent documents, contract (including this Agreement) or otherwise;

 

(3)           any obligation of any other Persons with whom or which Indemnitee may be associated to indemnify Indemnitee and/or advance
Expenses to Indemnitee in respect of any proceeding are secondary to the obligations of the Company’s obligations;

 

(4)           the Company will indemnify Indemnitee and advance Expenses to Indemnitee hereunder to the fullest extent provided herein
without regard to any rights Indemnitee may have against any other Person with whom or which Indemnitee may be associated or insurer of
any such Person; and

 

(ii)           the Company irrevocably waives, relinquishes and releases (A) any other Person with whom or which Indemnitee may be associated
from any claim of contribution, subrogation, reimbursement, exoneration or indemnification, or any other recovery of any kind in respect
of amounts paid by the Company to Indemnitee pursuant to this Agreement and (B) any right to participate in any claim or remedy of Indemnitee
against any Person, whether or not such claim, remedy or right arises in equity or under contract, statute or common law, including, without
limitation, the right to take or receive from any Person, directly or indirectly, in cash or other property or by set-off or in any other
manner, payment or security on account of such claim, remedy or right.

 

(iii)          In
the event any other Person with whom or which Indemnitee may be associated or their insurers advances or extinguishes any liability
or loss for Indemnitee, the payor has a right of subrogation against the Company or its insurers for all amounts so paid which would
otherwise be payable by the Company or its insurers under this Agreement. In no event will payment by any other Person with whom or
which Indemnitee may be associated or their insurers affect the obligations of the Company hereunder or shift primary liability for
the Company’s obligation to indemnify or advance of Expenses to any other Person with whom or which Indemnitee may be
associated.

 

    11

     

    

 

(iv)          Any indemnification or advancement of Expenses provided by any other Person with whom or which Indemnitee may be associated
is specifically in excess over the Company’s obligation to indemnify and advance Expenses or any valid and collectible insurance
(including but not limited to any malpractice insurance or professional errors and omissions insurance) provided by the Company.

 

(c)           To the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers,
employees, or agents of the Company, the Company will obtain a policy or policies covering Indemnitee to the maximum extent of the coverage
available for any such director, officer, employee or agent under such policy or policies, including coverage in the event the Company
does not or cannot, for any reason, indemnify or advance Expenses to Indemnitee as required by this Agreement. If, at the time of the
receipt of a notice of a claim pursuant to this Agreement, the Company has director and officer liability insurance in effect, the Company
will give prompt notice of such claim or of the commencement of a Proceeding, as the case may be, to the insurers in accordance with the
procedures set forth in the respective policies. The Company will thereafter take all necessary or desirable action to cause such insurers
to pay, on behalf of the Indemnitee, all amounts payable as a result of such Proceeding in accordance with the terms of such policies.
Indemnitee agrees to assist the Company efforts to cause the insurers to pay such amounts and will comply with the terms of such policies,
including selection of approved panel counsel, if required.

 

(d)           The Company’s obligation to indemnify or advance Expenses hereunder to Indemnitee for any Proceeding concerning Indemnitee’s
Corporate Status with an Enterprise will be reduced by any amount Indemnitee has actually received as indemnification or advancement of
Expenses from such Enterprise. The Company and Indemnitee intend that any such Enterprise (and its insurers) be the indemnitor of first
resort with respect to indemnification and advancement of Expenses for any Proceeding related to or arising from Indemnitee’s Corporate
Status with such Enterprise. The Company’s obligation to indemnify and advance Expenses to Indemnitee is secondary to the obligations
the Enterprise or its insurers owe to Indemnitee. Indemnitee agrees to take all reasonably necessary and desirable action to obtain from
an Enterprise indemnification and advancement of Expenses for any Proceeding related to or arising from Indemnitee’s Corporate Status
with such Enterprise.

 

(e)           In the event of any payment made by the Company under this Agreement, the Company will be subrogated to the extent of such
payment to all of the rights of recovery of Indemnitee from any Enterprise or insurance carrier. Indemnitee will execute all papers required
and take all action necessary to secure such rights, including execution of such documents as are necessary to enable the Company to bring
suit to enforce such rights.

 

    12

     

    

 

Section 16.            Duration
of Agreement. This Agreement continues until and terminates upon the later of: (a) ten years after the date that Indemnitee ceases
to have a Corporate Status or (b) one year after the final termination of any Proceeding then pending in respect of which Indemnitee
is granted rights of indemnification or advancement of Expenses hereunder and of any Proceeding commenced by Indemnitee pursuant to Section
14 of this Agreement relating thereto. The indemnification and advancement of Expenses rights provided by or granted pursuant to
this Agreement are binding upon and be enforceable by the parties hereto and their respective successors and assigns (including any direct
or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business or assets of the Company),
continue as to an Indemnitee who has ceased to be a director, officer, employee or agent of the Company or of any other Enterprise, and
inure to the benefit of Indemnitee and Indemnitee’s spouse, assigns, heirs, devisees, executors and administrators and other legal
representatives.

 

Section
17.           Severability. If any provision or provisions of this Agreement is held to be invalid, illegal or unenforceable for
any reason whatsoever: (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including without
limitation, each portion of any Section of this Agreement containing any such provision held to be invalid, illegal or unenforceable,
that is not itself invalid, illegal or unenforceable) will not in any way be affected or impaired thereby and remain enforceable to the
fullest extent permitted by law; (b) such provision or provisions will be deemed reformed to the extent necessary to conform to applicable
law and to give the maximum effect to the intent of the parties hereto; and (c) to the fullest extent possible, the provisions of this
Agreement (including, without limitation, each portion of any Section of this Agreement containing any such provision held to be invalid,
illegal or unenforceable, that is not itself invalid, illegal or unenforceable) will be construed so as to give effect to the intent manifested
thereby.

 

Section
18.            Interpretation. Any ambiguity in the terms of this Agreement will be resolved in favor of Indemnitee and in a manner
to provide the maximum indemnification and advancement of Expenses permitted by law. The Company and Indemnitee intend that this Agreement
provide to the fullest extent permitted by law for indemnification and advancement in excess of that expressly provided, without limitation,
by the Certificate of Incorporation, the Bylaws, vote of the Company stockholders or disinterested directors, or applicable law.

 

Section
19.             Enforcement.

 

(a)           The Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on
it hereby in order to induce Indemnitee to serve as a director or officer of the Company, and the Company acknowledges that Indemnitee
is relying upon this Agreement in serving or continuing to serve as a director or officer of the Company.

 

(b)           This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and
supersedes all prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject
matter hereof; provided, however, that this Agreement is a supplement to and in furtherance of the Certificate of Incorporation, the Bylaws
and applicable law, and is not a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder.

 

    13

     

    

 

Section 20.            Modification
and Waiver. No supplement, modification or amendment of this Agreement is binding unless executed in writing by the parties hereto.
No waiver of any of the provisions of this Agreement will be deemed or constitutes a waiver of any other provisions of this Agreement
nor will any waiver constitute a continuing waiver.

 

Section
21.            Notice by Indemnitee. Indemnitee agrees promptly to notify the Company in writing upon being served with any summons,
citation, subpoena, complaint, indictment, information or other document relating to any Proceeding or matter which may be subject to
indemnification or advancement of Expenses covered hereunder. The failure of Indemnitee to so notify the Company does not relieve the
Company of any obligation which it may have to the Indemnitee under this Agreement or otherwise.

 

Section
22.            Notices. All notices, requests, demands and other communications under this Agreement will be in writing and will
be deemed to have been duly given if (a) delivered by hand to the other party, (b) sent by reputable overnight courier to the other party
or (c) sent by facsimile transmission or electronic mail, with receipt of oral confirmation that such communication has been received:

 

(a)           If to Indemnitee, at the address indicated on the signature page of this Agreement, or such other address as Indemnitee
provides to the Company.

 

(b)           If to the Company to:

 

Name: Mondee Holdings, Inc.

Address: 10800 Pecan Park Blvd., Suite
315

Austin, Texas 78750

Attention: Chief Legal Officer

 

or to any other address as may have been furnished
to Indemnitee by the Company.

 

Section
23.           Contribution. To the fullest extent permissible under applicable law, if the indemnification provided for in this
Agreement is unavailable to Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, will contribute to
the amount incurred by Indemnitee, whether for judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or
for Expenses, in connection with any claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair
and reasonable in light of all of the circumstances of such Proceeding in order to reflect (i) the relative benefits received by the Company
and Indemnitee as a result of the event(s) and/or transaction(s) giving cause to such Proceeding; and/or (ii) the relative fault of the
Company (and its directors, officers, employees and agents) and Indemnitee in connection with such event(s) and/or transaction(s).

 

    14

     

    

 

Section
24.           Applicable
Law and Consent to Jurisdiction. This Agreement and the legal relations among the parties are governed by, and construed and
enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules. Except with respect to
any arbitration commenced by Indemnitee pursuant to Section 14(a) of this Agreement, the Company and Indemnitee hereby
irrevocably and unconditionally (i) agree that any action or Proceeding arising out of or in connection with this Agreement may be
brought only in the Delaware Court of Chancery and not in any other state or federal court in the United States of America or any
court in any other country, (ii) consent to submit to the exclusive jurisdiction of the Delaware Court for purposes of any action or
Proceeding arising out of or in connection with this Agreement, (iii) waive any objection to the laying of venue of any such action
or Proceeding in the Delaware Court, and (iv) waive, and agree not to plead or to make, any claim that any such action or Proceeding
brought in the Delaware Court has been brought in an improper or inconvenient forum.

 

Section
25.            Identical Counterparts. This Agreement may be executed in one or more counterparts, each of which will for all purposes
be deemed to be an original but all of which together constitutes one and the same Agreement. Only one such counterpart signed by the
party against whom enforceability is sought needs to be produced to evidence the existence of this Agreement.

 

Section
26.            Headings. The headings of this Agreement are inserted for convenience only and do not constitute part of this Agreement
or affect the construction thereof.

 

    15

     

    

 

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

 

	COMPANY	 	INDEMNITEE
	 	 	 
	By:	               	 	By:	                 
	 	Prasad Gundumogula	 	 	[Name]

	 	Chief Executive Officer	 	Address:	 
	 	 	 
	 	 	 

 

[Signature Page to Indemnification Agreement]

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