Document:

Exhibit
10.1

 

STOCK
PURCHASE AGREEMENT

between

 

THE
SELLERS NAMED HEREIN,

 

and

OCEAN POWER TECHNOLOGIES, INC.

dated as of

 

November
15, 2021

 

    	 

     

    

 

TABLE
OF CONTENTS

 

	ARTICLE
    I DEFINED TERMS; INTERPRETATION	1
	 	 	 
	Section
    1.01	Defined
    Terms	1
	Section
    1.02	Interpretation	1
	ARTICLE
    II PURCHASE AND SALE 	2
	 	 	 
	Section
    2.01	Purchase
    and Sale	2
	Section
    2.02	Purchase
    Price	2
	Section
    2.03	Contingent
    Additional Purchase Price	3
	Section
    2.04	Working
    Capital Injections	5
	ARTICLE
    III CLOSING	6
	 	 	 
	Section
    3.01	Closing	6
	Section
    3.02	Seller
    Closing Deliverables	6
	Section
    3.03	Buyer’s
    Deliveries	7
	ARTICLE
    IV REPRESENTATIONS AND WARRANTIES OF SELLERS 	8
	 	 	 
	Section
    4.01	Authority
    of the Sellers	8
	Section
    4.02	Ownership
    of Shares	8
	Section
    4.03	No
    Conflict	8
	Section
    4.04	Legal
    Proceedings	8
	Section
    4.05	Securities
    and Investment Matters	9
	Section
    4.06	Brokers	9
	ARTICLE
    V REPRESENTATIONS AND WARRANTIES REGARDING THE COMPANY 	9
	 	 	 
	Section
    5.01	Organization,
    Authority, and Qualification of the Company	10
	Section
    5.02	Capitalization	10
	Section
    5.03	No
    Subsidiaries	10
	Section
    5.04	No
    Conflicts or Consents	11
	Section
    5.05	Financial
    Statements	11
	Section
    5.06	Undisclosed
    Liabilities	11
	Section
    5.07	Absence
    of Certain Changes, Events, and Conditions	12
	Section
    5.08	Contracts	13
	Section
    5.09	Real
    Property; Title to Assets.	16
	Section
    5.10	Intellectual
    Property.	16
	Section
    5.11	Accounts
    Receivable	17
	Section
    5.12	Material
    Customers and Suppliers.	17
	Section
    5.13	Insurance.	18
	Section
    5.14	Legal
    Proceedings; Governmental Orders.	19
	Section
    5.15	Compliance
    with Laws; Permits.	19
	Section
    5.16	Environmental
    Matters.	20
	Section
    5.17	Employee
    Benefit Matters.	20
	Section
    5.18	Employment
    Matters.	22
	Section
    5.19	Taxes.	23
	Section
    5.20	Affiliate
    Transactions.	24

 

    	i

     

    

 

	Section
    5.21	OSHA
    Compliance	25
	Section
    5.22	Payments;
    Export Control and Antiboycott Laws.	25
	Section
    5.23	Books
    and Records	25
	Section
    5.24	Business
    Backlog and Proposals.	26
	Section
    5.25	Bank
    Accounts	26
	Section
    5.26	Brokers.
    No broker, finder, or investment banker is entitled to any brokerage, finder’s, or other fee or commission in connection
    with the transactions contemplated by this Agreement or any other Transaction Document based upon arrangements made by or on behalf
    of the Company.	26
	ARTICLE
    VI REPRESENTATIONS AND WARRANTIES OF BUYER	26
	 	 	 
	Section
    6.01	Organization
    and Authority of Buyer	26
	Section
    6.02	No
    Conflicts; Consents	27
	Section
    6.03	Investment
    Purpose	27
	Section
    6.04	Brokers	27
	Section
    6.05	OPT
    Shares as Consideration	27
	Section
    6.06	Buyer
    Reports and Financial Statements	27
	Section
    6.07	Independent
    Investigation	28
	ARTICLE
    VII COVENANTS	29
	 	 	 
	Section
    7.01	Confidentiality	29
	Section
    7.02	Business
    Relationships	29
	Section
    7.03	Non-Competition;
    Non-Solicitation	29
	Section
    7.04	Registration
    Rights; Share Ownership	30
	Section
    7.05	No
    Claim Against the Company	33
	Section
    7.06	Further
    Assurances	33
	ARTICLE
    VIII TAX MATTERS	33
	 	 	 
	Section
    8.01	Tax
    Covenants	33
	Section
    8.02	Straddle
    Period	34
	Section
    8.03	Termination
    of Existing Tax Sharing Agreements	34
	Section
    8.04	Tax
    Indemnification	34
	Section
    8.05	Cooperation
    and Exchange of Information	35
	Section
    8.06	Survival	35
	ARTICLE
    IX INDEMNIFICATION	35
	 	 	 
	Section
    9.01	Indemnification
    by Sellers	35
	Section
    9.02	Indemnification
    by Buyer	36
	Section
    9.03	Indemnification
    Procedures	36
	Section
    9.04	Survival;
    Indemnity Limits	36
	Section
    9.05	Tax
    Claims	37
	Section
    9.06	Cumulative
    Remedies	37
	ARTICLE
    X MISCELLANEOUS	38
	 	 	 
	Section
    10.01	Expenses	38
	Section
    10.02	Notices	38
	Section
    10.03	Interpretation;
    Headings	38
	Section
    10.04	Severability	39
	Section
    10.05	Entire
    Agreement	39
	Section
    10.06	Successors
    and Assigns	39
	Section
    10.07	Amendment
    and Modification; Waiver	39
	Section
    10.08	Governing
    Law; Submission to Jurisdiction	39
	Section
    10.09	Counterparts	39

 

    	ii

     

    

 

STOCK
PURCHASE AGREEMENT

 

This
Stock Purchase Agreement (this “Agreement”), dated as of November 15, 2021, is entered into between the parties listed
on Schedule A attached hereto (each, a “Seller,” and together, the “Sellers”) and Ocean
Power Technologies, Inc., a Delaware corporation (“Buyer”).

 

RECITALS

 

WHEREAS,
Sellers own all of the issued and outstanding shares of common stock, no par value and shares of preferred stock, no par value (the “Shares”)
of Marine Advanced Robotics, Inc., a California corporation (“Company”); and

 

WHEREAS,
Sellers wish to sell to Buyer, and Buyer wishes to purchase from Sellers, the Shares, subject to the terms and conditions set forth herein.

 

NOW,
THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

ARTICLE
I

DEFINED TERMS; INTERPRETATION

 

Section
1.01 Defined Terms. Capitalized terms used in this Agreement that are not otherwise defined in this Agreement are defined in Exhibit
A.

 

Section
1.02 Interpretation. As used in this Agreement, except as otherwise indicated in this Agreement or as the context may otherwise require:

 

(a)
the words “include”, “includes”, and “including” are deemed to be followed by “without limitation”
whether or not they are in fact followed by such words or words of similar import;

 

(b)
the word “or” is not exclusive, and the word “extent” in the phrase “to the extent” means the degree
or proportion to which a subject or other thing extends, and such phrase shall not mean simply “if”;

 

(c)
references to an “Article”, “Section”, “preamble”, “recital”, or any other subdivision,
or to an “Appendix”, “Exhibit”, or “Schedule”, are to an article, section, preamble, recital, or
subdivision of this Agreement, or to an appendix, exhibit, or schedule to this Agreement, respectively;

 

(d)
the words “this Agreement”, “hereby”, “hereof”, “herein”, “hereunder”, and
comparable words refer to all of this Agreement, including the Appendix, Exhibits, and Schedules to this Agreement, and not to any particular
Article, Section, preamble, recital, or other subdivision of this Agreement or Appendix, Exhibit, or Schedule to this Agreement;

 

    	1

     

     

(e)
any pronoun in masculine, feminine, or neuter form shall include each other gender;

 

(f)
any word in the singular form includes the plural and vice versa;

 

(g)
references to any agreement or other document are to such agreement or document as amended, modified, superseded, supplemented, and restated
now or from time to time after the date of this Agreement;

 

(h)
references to any Law are references to such Law as amended, modified, supplemented, and restated now or from time to time after the
date of this Agreement, and to any corresponding provisions of successor Laws, and, unless the context requires otherwise, any reference
to any statute shall be deemed also to refer to all rules and regulations promulgated and Orders issued thereunder;

 

(i)
references to any Person include such Person’s respective permitted successors and permitted assigns;

 

(j)
references to a “day” or number of “days” (without the explicit qualification of “Business”) refer
to a calendar day or number of calendar days; and

 

(k)
any financial or accounting term that is not otherwise defined in this Agreement shall have the meaning given such term under GAAP.

 

ARTICLE
II

PURCHASE AND SALE

 

Section
2.01 Purchase and Sale. Subject to the terms and conditions set forth herein, at the Closing, Sellers are selling to Buyer, and Buyer
is purchasing from Sellers, the Shares, free and clear of any mortgage, pledge, lien, charge, security interest, claim, community property
interest, option, equitable interest, restriction of any kind (including any restriction on use, voting, transfer, receipt of income,
or exercise of any other ownership attribute), or other encumbrance (each, an “Encumbrance”), for the consideration
specified in Section 2.02.

 

Section
2.02 Purchase Price. 

 

(a)
Purchase Price. The aggregate purchase consideration for the Shares and restrictive covenants set forth herein (collectively,
the “Purchase Price”) shall be equal to: (i) Four Million No/100 Dollars ($4,000,000) (the “Base Amount”),
plus (ii) 3,330,162 restricted shares (the “OPT Shares”) of Buyer’s common stock, par value $0.01 per
share (the “OPT Common Stock”) based on the 30-Day Trailing VWAP, having an aggregate value of Seven Million and No/100
Dollars ($7,000,000) (the “Closing OPT Shares”), plus (iii) the Earnout Payment (defined below), if any.

 

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(b)
Estimated Closing Statement. Prior to Closing, Sellers delivered to Buyer a statement (the “Estimated Closing Statement”)
setting forth in reasonable detail estimates of (i) the Closing Cash on Hand (the “Estimated Closing Cash on Hand”),
(ii) the Closing Seller Transaction Expenses (the “Estimated Closing Seller Transaction Expenses”), and (iii) the
Closing Payment (defined below) (the “Estimated Closing Payment”).

 

(c)
Closing Payment. At the Closing, the Buyer shall (A) pay in cash the aggregate amount of the Purchase Price which is equal to
(i) the Base Amount minus (ii) the Estimated Closing Seller Transaction Expenses, (B) cause the Company to pay the Estimated Closing
Cash on Hand to Mark Gundersen (“Gundersen”) and (C) pay in cash the balance, if any, of the Gundersen Debt to Gundersen,
to the extent the Estimated Closing Cash on Hand is less than the Gundersen Debt (collectively, the “Closing Payment”).

 

(d)
Payment of Remaining Specified Indebtedness. In the event the Gundersen Debt is paid in full, the Conti Debt shall be repaid (A)
first, using the remaining Estimated Closing Cash on Hand and (B) thereafter, using the cash received from the Existing Bookings. If
the Conti Debt has not been repaid in full by April 30, 2022 through the cash received from the Existing Bookings, Buyer will repay the
remaining balance of the Conti Debt.

 

Section
2.03 Contingent Additional Purchase Price.

 

(a)
In addition to the Purchase Price payable to Sellers at the Closing, Sellers may be entitled to additional cash and OPT Common Stock
consideration (the “Earnout Payment”), in an aggregate amount not to exceed $3,500,000. The Earnout Payment, if any,
shall be payable by Buyer to Sellers, on the following terms and subject to the following conditions:

 

(i)
(A) If the aggregate gross revenues of the Company that are attributable to New Bookings (as defined below) (“New Booking Revenue”)
for the First Earnout Period (as defined below), as determined in good faith by Buyer, is at least $2,500,000, then Buyer shall pay $500,000
in cash and (B) if such New Booking Revenue is greater than $2,500,000, then Buyer shall issue the number additional shares of OPT Common
Stock on a dollar for dollar basis up to a maximum value of $1,000,000 based on the amount that such New Booking Revenue exceeds $2,500,000
with the number of shares of OPT Common Stock based on the 30-Day Trailing VWAP as of the last day of the First Earnout Period; provided
that, to the extent New Booking Revenue exceeds $3,500,000, such excess amount up to $1,500,000 shall be credited on a dollar for dollar
basis and counted towards the calculation of the New Booking Revenue for the Second Earnout Period;

 

(ii)
(A) if the New Booking Revenue for the Second Earnout Period (as defined below), as determined in good faith by Buyer is at least or
to $5,700,000, then Buyer shall pay $500,000 in cash and (B) if such New Booking Revenue is greater than $5,700,000, then Buyer shall
issue in the number of additional shares of OPT Common Stock on a dollar for dollar basis up to a maximum value of $1,500,000 based on
the amount that such New Booking Revenue exceeds $5,700,000 with the number of shares of OPT Common Stock based on the 30-Day Trailing
VWAP as of the last of the Second Earnout Period.

 

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(b)
Definitions. For the purposes of this Section 2.03:

 

(i)
“New Booking” shall mean any customer contract entered into during the Earnout Period, by and between the Company
and any customer to provide products or services in the ordinary course of the business of the Company, as determined and verified in
good faith by Buyer; provided, that in the event such a contract or portion thereof is terminated or materially reduced at any
time during the Earnout Period, the terminated or reduced portion of the contract shall not constitute a New Booking for purposes of
this Agreement.

 

(ii)
“First Earnout Period” means the period commencing on the Closing Date and ending on April 30, 2023.

 

(iii)
“Second Earnout Period” means the period commencing on May 1, 2023 and ending on April 30, 2024.

 

(iv)
“Earnout Period” means the First Earnout Period and the Second Earnout Period.

 

(c)
Within forty-five (45) days following the last day of the First Earnout Period and the Second Earnout Period (as applicable), Buyer shall
deliver a written statement to Sellers of its determination of the total amount of (i) the New Booking Revenue, and (ii) the Earnout
Payment (if any) that is due to Sellers pursuant to this Section 2.03 (“Earnout Notice”). Such Earnout Notice shall
be delivered to each Seller at the email address provided by such Seller at Closing and each Seller shall have ten (10) days from the
delivery date of the Earnout Notice to contact the Company and confirm wiring instructions for payment of its portion of the Earnout
Payment (if any). For the avoidance of doubt, New Booking Revenue measures orders for goods or services placed, and the associated revenue
to be earned therefrom, rather than revenue actually received during a particular Earnout Period.

 

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(d)
If one or more Sellers dispute the Buyer’s determination of the New Booking Revenue and/or the amount (if any) of the Earnout Payment
that is payable by Buyer to Sellers pursuant to this Section 2.03, then such Sellers shall deliver a written dispute notice (an “Earnout
Dispute Notice”) to Buyer including a detailed explanation of the disputed amounts no later than ten (10) days after Sellers’
receipt of the Earnout Notice. Notwithstanding the Earnout Dispute Notice, if the Earnout Payments due to Sellers pursuant to Sections
2.03(a)(i)(A) or (a)(ii)(A) are undisputed (the “Undisputed Amount”), within ten (10) days of Sellers’ delivery
of the Earnout Dispute Notice to Buyer, each Seller shall confirm wiring instructions for payment of its portion of the Earnout Payment
with Buyer and Buyer shall pay to such Seller its portion of the Undisputed Amount by wire transfer of immediately available funds to
an account or accounts designated by such Seller in writing. The parties shall endeavor in good faith to resolve the disputed amount
of the Earnout Payment (the “Disputed Amount”) within twenty (20) days after Sellers deliver such Earnout Dispute
Notice to Buyer. If the parties are unable to resolve the Disputed Amount within such 20-day period after Sellers deliver such Earnout
Dispute Notice to Buyer, then either Buyer or Sellers may engage an Independent Accountant to resolve the Disputed Amount, and such determination
by the Independent Accountant shall be final and binding upon the parties. The Independent Accountant shall determine only the Disputed
Amount and may not assign a value to any Earnout Payment that is greater than the amount of the Earnout Payment as calculated by Sellers
or less than the amount of the Earnout Payment as calculated by Buyer. The Independent Accountant’s determination shall be set
forth in a written report which shall include an explanation of the reasons for its determination on the Earnout Payment and shall be
final, non-appealable, binding and conclusive on the parties, absent manifest calculation error. The fees and expenses of any such Independent
Accountant shall be paid by the party whose determination of the amount of the Earnout Payment (if any) differs from the final Earnout
Payment (as determined by the Independent Accountant) by a greater absolute amount (disregarding whether such difference is a positive
or a negative amount) than the determination of the other party, as determined by the Independent Accountant.

 

(e)
Within ten (10) days after the final determination of the amount of the Earnout Payment (if any) that is payable by Buyer to Sellers
pursuant to this Section 2.03, Buyer shall notify Sellers at the email addresses provided to Buyer of: (i) the aggregate cash portion
(if any) of the Earnout Payment and the proportionate number of shares of OPT Common Stock the Sellers are entitled with respect to the
Earnout Period. Each Seller shall have ten (10) days from the delivery date of the final determination notice to contact the Company
and confirm wiring instructions for payment of its portion of the Earnout Payment (if any); provided however, if a Seller does not confirm
wiring instructions within the applicable period, Buyer shall take reasonable steps to ensure delivery of the appropriate portion of
the Earnout Payment to Seller, including sending notice to such Seller in accordance with Section 10.02 and copying Sellers’ counsel,
Gundersen and Isabella Conti. In the event Seller fails to respond within one hundred twenty (120) days, Buyer shall have no obligation
to pay such Seller’s portion of the Earnout Payment. For avoidance of doubt, shares issued pursuant to this Section 2.03 shall
be unrestricted and freely tradeable.

 

Section
2.04 Working Capital Injections. In addition to the Purchase Price, Buyer shall provide $2,000,000 of working capital to the Company
at the Closing (the “Initial Working Capital Injection”) and such Initial Working Capital Injection shall be used
in accordance with the budget pre-approved by the Board of the Buyer prior to Closing. At a later date determined by Buyer, but in no
event later than January 1, 2023, Buyer shall provide an additional $1,000,000 of working capital to the Company (the “Additional
Working Capital Injection” and together with the Initial Working Capital Injection, the “Working Capital Injections”)
and such Additional Working Capital Injection shall be used in accordance with a budget pre-approved by the Board of the Buyer. For avoidance
of doubt, the calculations described in this Section 2.03 shall not include any Working Capital Injections provided by Buyer to the Company
from date of the Closing through the last day of the Second Earnout Period.

 

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ARTICLE
III

CLOSING

 

Section
3.01 Closing. The closing of the transactions contemplated by this Agreement (the “Closing”) shall take place
simultaneously with the execution of this Agreement on the date of this Agreement (the “Closing Date”) at such place
as the parties may mutually agree upon. The consummation of the transactions contemplated by this Agreement shall be deemed to occur
at 12:01 a.m. Central time on the Closing Date.

 

Section
3.02 Seller Closing Deliverables. Prior to or at the Closing, Sellers shall deliver, or cause to be delivered, to Buyer the following:

 

(a)
stock certificates evidencing the Shares, free and clear of all Encumbrances, duly endorsed in blank or accompanied by stock powers or
other instruments of transfer duly executed in blank (or an affidavit of lost certificate certifying the stock certificate issued to
Seller has been lost, stolen or destroyed);

 

(b)
a certificate of the Secretary (or other officer) of the Company certifying that attached thereto are true and complete copies of the
governing documents of the Company, including any amendments or restatements thereof, and that such governing documents are in full force
and effect;

 

(c)
the employment agreement between Buyer and Gundersen (the “Employment Agreement”), duly executed by Gundersen;

 

(d)
the consulting agreement between Buyer and Ugo Conti (the “Consulting Agreement”), duly executed by Ugo Conti;

 

(e)
the agreement between Buyer and Isabella Conti (“Observer”) allowing Observer to attend, in a non-voting observer
capacity, all meetings of the board of directors of Buyer (the “Board”) and any and all Committees for the purposes
of permitting Observer to have current information with respect to the affairs of Buyer and the actions taken by the Board and Observer
to provide input and advice with respect thereto, duly executed by Observer (the “Observer Agreement”);

 

(f)
resignations of the directors and officers of the Company, effective as of the Closing Date;

 

(g)
a certificate of good standing for the Company from the California Secretary of State or similar Governmental Authority of the jurisdiction
under the Laws in which the Company is organized;

 

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(h)
a certificate pursuant to Treasury Regulations Section 1.1445-2(c) from the Company is not, nor has it been, a United States real property
holding corporation (as defined in Section 897(c)(2) of the Code) during the applicable period specified in Section 897(c)(1)(a) of the
Internal Revenue Code (as amended, the “Code”);

 

(i)
an email address of each Seller for notices regarding Earnout Payments (if any) under Section 2.03;

 

(j)
signature cards to all of the Company’s bank accounts; and

 

(k)
such other instruments of sale, assignment or transfer reasonably required by Buyer.

 

Section
3.03 Buyer’s Deliveries. Prior to or at the Closing, Buyer shall deliver the following to Sellers:

 

(a)
a certificate of the Secretary (or other officer) of Buyer certifying (i) that attached thereto are true and complete copies of all resolutions
of the board of directors of Buyer authorizing the execution, delivery, and performance of this Agreement and the Transaction Documents
to which it is a party and the consummation of the transactions contemplated hereby and thereby, and that such resolutions are in full
force and effect, and (ii) the names, titles, and signatures of the officers of Buyer authorized to sign this Agreement and the other
Transaction Documents to which it is a party;

 

(b)
the Closing Payment in accordance with Section 2.02(c), in immediately available funds by wire transfer to an account or accounts of
each Seller as designated by such Seller prior to the Closing;

 

(c)
the amount owed, if any, in satisfaction of the Gundersen Debt and if available, the Conti Debt in accordance with Section 2.02(d), in
immediately available funds by wire transfer to an account or accounts of each payee as designated by such payee prior to the Closing;

 

(d)
the Initial Working Capital Injection;

 

(e)
evidence of the book entry position of each Seller at the transfer agent for the OPT Common Stock for their respective Closing OPT Shares;

 

(f)
the Employment Agreement, duly executed by Buyer;

 

(g)
the Consulting Agreement, duly executed Buyer;

 

(h)
the Observer Agreement, duly executed by Buyer;

 

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(i)
such other instruments of sale, assignment or transfer reasonably required by Sellers; and

 

(j)
in addition to the payments described in Section 3.03(b) and 3.03(c), Buyer shall make, or cause to be made, the following payments,
on behalf of Sellers and/or the Company, to the applicable payees of the Closing Seller Transaction Expenses, such amounts as set forth
in the Estimated Closing Statement.

 

ARTICLE
IV

REPRESENTATIONS AND WARRANTIES OF SELLERS

 

Each
Seller, solely with respect to himself or itself, represents and warrants to Buyer that the statements contained in this Article IV are
true and correct as of the date hereof. For purposes of this Article IV, “Seller’s knowledge,” “knowledge of
Seller,” and any similar phrases shall mean the actual knowledge of the Seller, after due inquiry.

 

Section
4.01 Authority of the Sellers. The execution and delivery by Seller of this Agreement and any other Transaction Document to which
Seller is a party, the performance by such Seller of its obligations hereunder and thereunder, and the consummation by Seller of the
transactions contemplated hereby and thereby have been duly authorized by all requisite corporate action on the part of Seller. This
Agreement and each Transaction Document to which Seller is a party constitute legal, valid, and binding obligations of Seller, enforceable
against such Seller in accordance with their respective terms, except as such enforcement may be limited by bankruptcy, insolvency, reorganization,
moratorium or other similar laws affecting enforcement of creditors’ rights generally and the availability of injunctive relief,
specific performance and other general principles of equity (whether applied in a proceeding at law or in equity).

 

Section
4.02 Ownership of Shares. Seller is the record owner of and has good and valid title to the Shares as set forth on Schedule A,
free and clear of all Encumbrances. Upon the transfer, assignment and delivery of the Shares and payment thereof in accordance with the
terms of this Agreement, Buyer shall own all of the Shares, free and clear of all Encumbrances.

 

Section
4.03 No Conflict. The execution, delivery and performance by Seller of this Agreement and the other Transaction Documents to which
such Seller is a party, and the consummation of the transactions contemplated hereby and thereby, do not conflict with or result in a
violation or breach of, or default under, any provision of the organizational documents of such Seller.

 

Section
4.04 Legal Proceedings. There are no Actions pending or, to Seller’s Knowledge, threatened (a) by or against such Seller or
any Affiliate of such Seller and relating to the Company; or (b) against such Seller or any Affiliate of such Seller that challenges
or seeks to prevent, enjoin or otherwise delay the transactions contemplated by this Agreement.

 

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Section
4.05 Securities and Investment Matters. Seller represents the following:

 

(a)
Seller has such knowledge, skill and experience in business, financial and investment matters that Seller is capable of evaluating the
merits and risks of an investment in the OPT Common Stock. With the assistance of Seller’s own professional advisors, to the extent
that Seller has deemed appropriate, Seller has made its own legal, tax, accounting and financial evaluation of the merits and risks of
an investment in the OPT Common Stock. Seller has considered the suitability of the OPT Common Stock as an investment in light of its
own circumstances and financial condition and Seller is able to bear the risks associated with an investment in the OPT Common Stock.

 

(b)
Seller is an “accredited investor” as defined in Rule 501(a) under the Securities Act. Seller agrees to furnish any additional
information requested by Buyer or any of its affiliates to assure compliance with applicable U.S. federal and state securities laws in
connection with the investment in the OPT Common Stock.

 

(c)
Seller is acquiring the OPT Shares solely for Seller’s own beneficial account, for investment purposes, and not with a view to,
or for resale in connection with, any distribution of the OPT Common Stock. Seller understands that the OPT Shares have not been registered
under the Securities Act or any securities, “blue sky” or other similar laws of such jurisdiction by reason of specific exemptions
under the provisions thereof which depend in part upon the investment intent of Seller and of the other representations made by Seller
in this Agreement. Seller understands that Buyer is relying upon the representations and agreements contained in this Agreement for the
purpose of determining whether this transaction meets the requirements for such exemptions.

 

(d)
Seller understands that the OPT Shares are “restricted securities” under applicable federal securities laws and that the
Securities Act and the rules of the SEC provide in substance that Seller may dispose of the OPT Shares only pursuant to an effective
registration statement under the Securities Act or an exemption therefrom Seller further understands that its ability to dispose of the
OPT Shares will be subject to the restrictions contained in Section 6.04 hereof.

 

Section
4.06 Brokers. No broker, finder, or investment banker is entitled to any brokerage, finder’s, or other fee or commission in
connection with the transactions contemplated by this Agreement or any other Transaction Document based upon arrangements made by or
on behalf of the Seller.

 

ARTICLE
V

REPRESENTATIONS AND WARRANTIES REGARDING THE COMPANY

 

The
Key Sellers represent and warrant to Buyer that the statements contained in this Article V are true and correct as of the date hereof.
For purposes of this Article V, “Key Sellers’ knowledge,” “knowledge of Key Seller,” and any similar phrases
shall mean the actual knowledge of each Key Seller. The term “Disclosure Schedules” means the disclosure schedules
delivered by Sellers concurrently with the execution, closing, and delivery of this Agreement.

 

    	9

     

     

Section
5.01 Organization, Authority, and Qualification of the Company. The Company is a corporation duly organized, validly existing, and
in good standing under the Laws of the state of California and has full corporate power and authority to own, operate, or lease the properties
and assets now owned, operated, or leased by it and to carry on its business as it has been and is currently conducted. Section 5.01
of the Disclosure Schedules sets forth each jurisdiction in which the Company is licensed or qualified to do business, and the Company
is duly licensed or qualified to do business and is in good standing in each jurisdiction in which the properties owned or leased by
it or the operation of its business as currently conducted makes such licensing or qualification necessary.

 

Section
5.02 Capitalization.

 

(a)
The authorized shares of the Company consist of 20,000,000 shares of common stock, no par value (the “Common Stock”)
and 5,000,000 shares of preferred stock, no par value (the “Preferred Stock”), of which 4,595,278 shares of Common
Stock and 2,250,000 shares of Preferred Stock are issued and outstanding and constitute the Shares. All of the Shares have been duly
authorized, are validly issued, and are owned of record and beneficially by Sellers, free and clear of all Encumbrances.

 

(b)
All of the Shares were issued in compliance with applicable Laws. None of the Shares were issued in violation of any agreement or commitment
to which any Seller or the Company is a party or is subject to or in violation of any preemptive or similar rights of any individual,
corporation, partnership, joint venture, limited liability company, Governmental Authority, unincorporated organization, trust, association,
or other entity (each, a “Person”).

 

(c)
There are no outstanding or authorized options, warrants, convertible securities or other rights,
agreements, arrangements or commitments of any character relating to the capital stock of the Company or obligating Seller or the Company
to issue or sell any shares of capital stock of, or any other interest in, the Company. The Company does not have outstanding or authorized
any stock appreciation, phantom stock, profit participation or similar rights. There are no voting trusts, stockholder agreements, proxies
or other agreements or understandings in effect with respect to the voting or transfer of any of the Shares.

 

Section
5.03 No Subsidiaries. The Company does not own, or have the right to acquire, an ownership interest in any other Person.

 

    	10

     

     

Section
5.04 No Conflicts or Consents. The execution, delivery, and performance by each Seller of this Agreement and the other Transaction
Documents to which it is a party, and the consummation of the transactions contemplated hereby and thereby, do not and will not: (a)
violate or conflict with any provision of the articles of incorporation, bylaws, or other governing documents of the Company; (b) violate
or conflict in any material respect with any provision of any statute, law, ordinance, regulation, rule, code, treaty, or other requirement
of any Governmental Authority (collectively, “Law”) or any order, writ, judgment, injunction, decree, determination,
penalty, or award entered by or with any Governmental Authority (“Governmental Order”) applicable to any Seller or
the Company; (c) require the consent, notice, or filing with or other action by any Person or require any Permit, license, or Governmental
Order; (d) violate or conflict with in any material respect, result in the acceleration of, or create in any party the right to accelerate,
terminate, or modify any contract, lease, deed, mortgage, license, instrument, note, indenture, joint venture, or any other agreement,
commitment, or legally binding arrangement, whether written or oral (collectively, “Contracts”), to which any Seller
or the Company is a party or by which any Seller or the Company is bound or to which any of their respective properties and assets are
subject; or (e) result in the creation or imposition of any Encumbrance on any properties or assets of the Company.

 

Section
5.05 Financial Statements. Complete copies of the Company’s financial statements consisting of the balance sheet of the Company
as at December 31 in each of the years 2020 and 2019 and the related statements of income and retained earnings, stockholders’
equity, and cash flow for the years then ended, as well as balance sheets as at September 30, 2021, and the related statements of income
and retained earnings, stockholders’ equity, and cash flow for the nine-month period then ended (the “Financial Statements”),
are included in Section 5.05 of the Disclosure Schedules. The Financial Statements are based on the books and records of the Company
and fairly present the financial condition of the Company as of the respective dates they were prepared and the results of the operations
of the Company for the periods indicated. The balance sheet of the Company as of December 31, 2020 is referred to herein as the “Balance
Sheet” and the date thereof as the “Balance Sheet Date” and the balance sheet of the Company as of September
30, 2021 is referred to herein as the “Interim Balance Sheet” and the date thereof as the “Interim Balance
Sheet Date”. The Financial Statements have been prepared on using the cash basis method of accounting.

 

Section
5.06 Undisclosed Liabilities. The Company has no liabilities, obligations, or commitments of any nature whatsoever, whether asserted,
known, absolute, accrued, matured, or otherwise (collectively, “Liabilities”) of a nature required to be included
on a balance sheet prepared in accordance with the Company’s past accounting practices, except (a) those which are adequately reflected
or reserved against in the Balance Sheet as of the Balance Sheet Date, or (b) those listed in Section 5.06 of the Disclosure Schedules.
Section 5.06 of the Disclosure Schedules also sets forth (i) all of the Company’s current outstanding Indebtedness, and
(ii) all of the Company’s current accounts payable. Each of the Company’s COVID-19 Economic Injury Disaster Loan and Payment
Protection Program Loan has been repaid or forgiven in its entirety.

 

    	11

     

     

Section
5.07 Absence of Certain Changes, Events, and Conditions. Since the Balance Sheet Date, and other than in the ordinary course of business
consistent with past practice, there has not been, with respect to the Company, any change, event, condition, or development that is,
or could reasonably be expected to be, individually or in the aggregate, materially adverse to the business, results of operations, condition
(financial or otherwise), or assets of the Company. Without limiting the generality or effect of the foregoing, from the Balance Sheet
Date through the Closing Date, except as disclosed in Section 5.07 of the Disclosure Schedules, neither the Company nor any Seller
has:

 

(a)
disposed of any of the Shares;

 

(b)
changed any salaries, sales commissions or other compensation of, or paid any bonuses or extraordinary compensation to, any current or
former director, officer, employee, sales representative, consultant or stockholder of the Company, or entered into any employment, severance
or similar agreement with any current or former director, officer, employee, sales representative, consultant or stockholder of the Company;

 

(c)
adopted or increased any benefits under any profit sharing, bonus, deferred compensation, savings, insurance, pension, retirement or
other Benefit Plan for or with any of its employees;

 

(d)
entered into any transaction, Contract or commitment outside of the ordinary course of business consistent with past practice, or canceled
or waived any claim or right outside the ordinary course of business consistent with past practice;

 

(e)
modified or amended in any material respect or terminated any Contract;

 

(f)
entered into, terminated, or received notice of termination of any Contract or transaction;

 

(g)
changed any of its accounting or tax methods, policies, practices, or principles, changed its reserve or accrual amounts or policies,
changed any depreciation or amortization policies or previously adopted rates, made or changed any Tax election, filed any amended Tax
Return, entered into any closing agreement, settled any Tax claim, consented to any extension or waiver of any limitation period applicable
to Taxes, changed any accounting period, or written-off as uncollectible any accounts receivables;

 

(h)
changed any working capital practice, including accelerated any collections of cash or accounts receivables or deferred or delayed payments
or failed to make timely accruals, including with respect to accounts payable and Liabilities incurred in the ordinary course of business
consistent with past practice;

 

(i)
amended the certificate of incorporation, bylaws or other organizational documents of the Company;

 

(j)
sold, leased or otherwise disposed of any material asset or property, including any Intellectual Property, in excess of Twenty-Five Thousand
Dollars ($25,000), outside the ordinary course of business consistent with past practice;

 

    	12

     

     

(k)
(A) issued any Company capital stock or issued or granted any option, warrant, registration right, convertible security or other right
to acquire or sell any Company capital stock, (B) retired, redeemed, purchased, withdrawn or otherwise acquired for value any Company
equity (including the purchase of warrants, rights, or other options to acquire such interests), or (C) declared or paid any dividends
or made any distributions or other payments with respect to any of Company capital stock;

 

(l)
delayed or postponed the payment of accounts payable and other Liabilities;

 

(m)
created, incurred, assumed or otherwise become liable for any capitalized lease obligations;

 

(n)
created, incurred, assumed or otherwise become liable for any indebtedness;

 

(o)
granted or suffered to exist any Encumbrance on any of its assets or the Shares;

 

(p)
terminated or closed any facility, business or operation of the Company;

 

(q)
settled, released or forgiven any claim or litigation or waived any right thereto that relates to the Shares or any of the assets of
the Company;

 

(r)
taken any action that decreased, removed, sold or otherwise disposed of, or pledged or granted any security interest in, any non-cash
assets; or

 

(s)
agreed, whether verbally or in writing, to do any of the foregoing.

 

In
addition, since the Balance Sheet Date, there has not occurred any material damage, destruction or casualty loss (whether or not covered
by insurance) with respect to any of the assets of the Company. Since the Balance Sheet Date, there has not been any event, occurrence,
development or circumstance that has had or could reasonably be expected to have a Material Adverse Effect on the Company.

 

Section
5.08 Contracts.

 

(a)
Section 5.08(a) of the Disclosure Schedules lists each Contract to which the Company is a party, including, without limitation,
the following:

 

(i)
any lease (whether of real or personal property), including all capitalized lease obligations;

 

    	13

     

     

(ii)
any agreement for the purchase of materials, supplies, goods, services, equipment or other assets that provides for aggregate payments
by the Company in excess of Ten Thousand Dollars ($10,000);

 

(iii)
any sales, distribution or other similar agreement providing for the sale by the Company of materials, supplies, goods, services, equipment
or other assets that provides for aggregate payments to the Company in excess of Ten Thousand Dollars ($10,000);

 

(iv)
any partnership, joint venture, strategic alliance or other similar agreement or arrangement;

 

(v)
any Contract pursuant to which any third party has rights to own or use any material asset of the Company, including any Company Intellectual
Property;

 

(vi)
any agreement relating to the acquisition or disposition of any business (whether by merger, sale of stock, sale of assets or otherwise)
or granting to any Person, by the Company or any Seller, a right of first refusal, first offer or other right to purchase any of the
Shares or other equity of the Company;

 

(vii)
any agreement relating to indebtedness (including performance, suretyship and other bonds and, in any case, whether incurred, assumed,
guaranteed or secured by any asset);

 

(viii)
any license, franchise or similar agreement;

 

(ix)
any agency, dealer, sales representative, marketing, or other similar agreement;

 

(x)
any Contract that may not be terminated by the Company without payment of penalty on less than ninety (90) days’ prior notice;

 

(xi)
any Contract or agreement with any stockholder, director, officer, employee or Affiliate of the Company, any Seller, or with any Affiliate
of the Company or any Seller;

 

(xii)
any management service, consulting, or any other similar type of agreement;

 

(xiii)
any warranty, guaranty, pledge, performance or completion bond or other similar undertaking with respect to any contractual performance
(or the Company’s standard forms of any of the foregoing) or agreement to indemnify any Person;

 

    	14

     

     

(xiv)
any employment, deferred compensation, severance, bonus, retirement or other similar agreement or Benefit Plan (including in respect
of any advances or loans to any employees);

 

(xv)
any collective bargaining agreement or Contract with any labor union;

 

(xvi)
any Contract containing covenants that (1) relate to the confidentiality or non-disclosure of certain information by the Company, (2)
restricts the Company’s ability to freely engage in any line of business or compete with any Person or hire any Person, (3) restricts
any Person from competing with the Company or soliciting employees or customers from the Company, (4) requires any Person to purchase
or sell a stated portion of its requirements or output from or to another Person or (5) imposes any exclusivity obligation with respect
to the Company’s sale or purchase of goods or services; or

 

(xvii)
to the extent not disclosed pursuant to clauses (i) through (xvi) above, any other Contract not made in the ordinary course of business
that is material to the Company or the business as currently conducted.

 

(b)
Each Contract disclosed in Section 5.08 of the Disclosure Schedules is a valid and binding agreement of the Company and, to the
Key Sellers’ Knowledge, each other party thereto, enforceable in accordance with its respective terms, except as such enforcement
may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting enforcement of creditors’
rights generally and by general principles of equity (whether applied in a proceeding at law or in equity). Neither the Company nor,
to the Key Sellers’ Knowledge, any other party to any such Contract is in default or breach (with or without due notice or lapse
of time or both) in any material respect under the terms of any such Contract. To the Key Sellers’ Knowledge, there is no
event, occurrence, condition or act which, individually or in the aggregate, with the giving of notice or the passage of time or both,
or the happening of any other event or condition, could reasonably be expected to become a material breach or event of default under
any such Contract. The Company has not given to or received from any other Person, at any time since the Balance Sheet Date, any notice
or other communication (whether oral or written) regarding any actual or alleged violation or breach of, or default in any material respect
under the terms of any such Contract. Sellers have delivered (or caused to be delivered) or made available to Buyer true and complete
originals or copies of all Contracts.

 

    	15

     

     

Section
5.09 Real Property; Title to Assets.

 

(a)
The Company does not own, and has never owned, any real property. Section 5.09(a) of the Disclosure Schedules lists all real property
in which the Company has a leasehold (or subleasehold) interest (together with all buildings, structures, and improvements located thereon,
the “Real Property”), including: (i) the street address of each parcel of Real Property; (ii) for Real Property that
is leased or subleased by the Company, the landlord under the lease, the rental amount currently being paid, and the expiration of the
term of such lease or sublease, and any termination or renewal rights of either party; and (iii) the current use of each parcel of Real
Property. Sellers have delivered (or caused to be delivered) or made available to Buyer true and complete originals or copies of all
Contracts relating to the Real Property.

 

(b)
The Company has good and valid leasehold interest in all Real Property and personal property and other assets reflected in the Financial
Statements or acquired after the Balance Sheet Date (other than properties and assets sold or otherwise disposed of in the ordinary course
of business consistent with past practice since the Balance Sheet Date). All Real Property and such personal property and other assets
are free and clear of Encumbrances.

 

(c)
The Company is not a sublessor or grantor under any sublease or other instrument granting to any other Person any right to possess, lease,
occupy, or use any leased Real Property. The use of the Real Property in the conduct of the Company’s business does not violate
in any material respect any Law, covenant, condition, restriction, easement, license, permit, or agreement and, to the Key Sellers’
Knowledge, no material improvements constituting a part of the Real Property encroach on real property owned or leased by a Person other
than the Company.

 

Section
5.10 Intellectual Property.

 

(a)
“Intellectual Property” means any and all of the following in any jurisdiction throughout the world: (i) issued patents
and patent applications; (ii) trademarks, service marks, trade names, and other similar indicia of source or origin, together with the
goodwill connected with the use of and symbolized by, and all registrations, applications for registration, and renewals of, any of the
foregoing; (iii) copyrights, including all applications and registrations; (iv) trade secrets, know-how, inventions (whether or not patentable),
technology, and other confidential and proprietary information and all rights therein; (v) internet domain names and social media accounts
and pages; and (vi) other intellectual or industrial property and related proprietary rights, interests, and protections.

 

(b)
Section 5.10(b) of the Disclosure Schedules lists all issued patents, registered trademarks, domain names and copyrights, and
pending applications for any of the foregoing and all material unregistered Intellectual Property that are owned by the Company and are
used or held for use in connection with the Company’s business as currently conducted (the “Company IP Registrations”).
The Company owns or has the valid and enforceable right to use all Intellectual Property used or held for use in or necessary for the
conduct of the Company’s business as currently conducted or proposed to be conducted (the “Company Intellectual Property”),
free and clear of all Encumbrances. All of the Company Intellectual Property is valid and enforceable, and all Company IP Registrations
are subsisting and in full force and effect. The Company has taken commercially reasonable steps to maintain and enforce the Company
Intellectual Property. All of the Intellectual Property necessary for or used in the conduct of the Company’s business as presently
conducted and as historically conducted during the twenty-four (24) month period immediately preceding the Closing Date are set forth
in Schedule 5.10(b) of the Disclosure Schedules.

 

    	16

     

     

(c)
To the knowledge of Key Sellers, the conduct of the Company’s business as currently and formerly conducted has not infringed, misappropriated,
or otherwise violated and will not infringe, misappropriate, or otherwise violate the Intellectual Property or other rights of any Person.
To the knowledge of Key Sellers, no Person has infringed, misappropriated, or otherwise violated any Company Intellectual Property. No
Intellectual Property listed or required to be listed in Section 5.10(b) of the Disclosure Schedules is subject to any outstanding
Order or agreement restricting the use thereof by the Company or restricting the licensing thereof by the Company to any Person, other
than with respect to standard and customary restrictions associated with commercially available third party software to which the Company
has a valid right to use in connection with its business.

 

Section
5.11 Accounts Receivable. The accounts receivable reflected on the Interim Balance Sheet and the accounts receivable arising after
the date thereof (a) have arisen from bona fide transactions entered into by the Company involving the sale of goods or the rendering
of services in the ordinary course of business consistent with past practice; (b) constitute only valid, undisputed claims of the Company
not subject to claims of set-off or other defenses or counterclaims other than normal cash discounts accrued in the ordinary course of
business consistent with past practice; and (c) subject to a reserve for bad debts shown on the Interim Balance Sheet or, with respect
to accounts receivable arising after the Interim Balance Sheet Date, on the accounting records of the Company, are collectible in full
within ninety (90) days after billing. The reserve for bad debts shown on the Interim Balance Sheet or, with respect to accounts receivable
arising after the Interim Balance Sheet Date, on the accounting records of the Company have been determined in accordance with the Company’s
past account practices consistently applied, subject to normal year-end adjustments and the absence of disclosures normally made in footnotes.
Section 5.11 of the Disclosure Schedules sets forth the accounts receivable of the Company as of the date hereof.

 

Section
5.12 Material Customers and Suppliers.

 

(a)
Section 5.12(a) of the Disclosure Schedules sets forth each customer who has paid aggregate consideration to the Company for goods
or services rendered in an amount greater than or equal to $50,000 for each of the years ended December 31, 2019 and 2020 (collectively,
the “Material Customers”). The Company has not received any written notice that any of its Material Customers has
ceased, or intends to cease after the Closing, to purchase or use its goods or services or to otherwise terminate or materially reduce
its relationship with the Company, and to the Key Sellers’ Knowledge, there has been no threat to cease purchasing or using its
goods or services or to otherwise terminate or materially reduce its relationship with the Company.

 

    	17

     

     

(b)
Section 5.12(b) of the Disclosure Schedules sets forth each supplier to whom the Company has paid consideration for goods or services
rendered in an amount greater than or equal to $5,000 for each of the years ended December 31, 2019 and 2020 (collectively, the “Material
Suppliers”). The Company has not received any written notice that any of its Material Suppliers has ceased, or intends to cease,
to supply goods or services to the Company or to otherwise terminate or materially reduce its relationship with the Company, and to the
Key Sellers’ Knowledge, there has been no threat to cease supplying goods or services or to otherwise terminate or materially reduce
its relationship with the Company.

 

Section
5.13 Insurance.

 

(a)
Section 5.13 of the Disclosure Schedules sets forth a true and complete list of all current policies or binders of insurance maintained
by Sellers or their Affiliates (including the Company) and relating to the assets, business, operations, employees, officers, and directors
of the Company (collectively, the “Insurance Policies”). Sellers have provided Buyer with true and correct copies
of all such Insurance Policies. Such Insurance Policies: (i) are in full force and effect; (ii) are valid and binding in accordance with
their terms; (iii) are provided by carriers who are financially solvent; and (iv) have not been subject to any lapse in coverage. The
Company has not received any written notice of cancellation of, premium increase with respect to, or alteration of coverage under, any
of such Insurance Policies. All premiums due on such Insurance Policies have been paid in the ordinary course of business consistent
with past practice. To the Key Sellers’ Knowledge, the Company is not in default under, or has not otherwise failed to comply with,
in any material respect, any provision contained in any Insurance Policy. The Insurance Policies are of the type and in the amounts customarily
carried by Persons conducting a business similar to the Company and are sufficient for compliance with all applicable Laws and Contracts
to which the Company is a party or by which it is bound. For purposes of this Agreement: (x) “Affiliate” of a Person
means any other Person that directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common
control with, such Person; and (y) the term “control” (including the terms “controlled by” and “under
common control with”) means the possession, directly or indirectly, of the power to direct or cause the direction of the management
and policies of a Person, whether through the ownership of voting securities, by contract, or otherwise.

 

(b)
Section 5.13 of the Disclosure Schedules sets forth, by year, for the current policy year and each of the three (3) preceding
policy years:

 

(i)
a summary of the terms of each policy of insurance, including its coverage, limits, deductibles, premiums and loss experience;

 

(ii)
a statement describing each claim retained by the Company or made under a policy of insurance for an amount in excess of $5,000, which
sets forth:

 

(A)
the name of the claimant;

 

    	18

     

     

(B)
a description of the policy by insurer, type of insurance, and period of coverage; and

 

(C)
the amount and a brief description of the claim; and

 

(iii)
a statement describing the loss experience for all claims that were self-insured, including the number and aggregate cost of such claims.

 

Section
5.14 Legal Proceedings; Governmental Orders.

 

(a)
Except as disclosed in Section 5.14 of the Disclosure Schedules, there are no claims (whether in contract or tort), actions, causes
of action, demands, lawsuits, arbitrations, inquiries, audits, notices of violation, proceedings, litigation, citations, summons, subpoenas,
or investigations of any nature, whether at law or in equity (collectively, “Actions”) pending or, to the Key Sellers’
Knowledge, threatened against or by the Company: (i) relating to or affecting the Company or any of the Company’s properties or
assets or (ii) that challenge or seek to prevent, enjoin, or otherwise delay the transactions contemplated by this Agreement.

 

(b)
There are no outstanding, and the Company is in compliance with, in all material respects, all Governmental Orders against, relating
to, or affecting the Company or any of its properties or assets.

 

Section
5.15 Compliance with Laws; Permits.

 

(a)
The Company has complied, and is now complying, in all material respects with all Laws applicable to it or its business, properties,
or assets. To the Key Sellers’ Knowledge, there is no fact, circumstance, condition or situation existing which, after notice or
lapse of time or both, would constitute material noncompliance with respect to any applicable Law. To the Key Sellers’ Knowledge,
there is not any present requirement of any applicable Law that is due to be imposed on the Company or its business and is reasonably
likely to increase the cost of complying with such applicable Law.

 

(b)
All material permits, licenses, franchises, approvals, registrations, certificates, variances, and similar rights obtained, or required
to be obtained from Governmental Authorities (collectively, “Permits”) that are required for the lawful operation
of the business of the Company as currently conducted, including, without limitation, owning or operating any of the Real Property, have
been obtained and are valid and in full force and effect. Section 5.15(b) of the Disclosure Schedules lists all current Permits
issued to the Company, and to the Key Sellers’ Knowledge, no event has occurred that would reasonably be expected to result in
the revocation or lapse of any such Permit.

 

    	19

     

     

Section
5.16 Environmental Matters.

 

(a)
To the Key Sellers’ Knowledge, the Company has complied, and is now complying, in all material respects with all Environmental
Laws. The Company has not received notice from any Person that the Company, its business or assets, or any real property currently or
formerly owned, leased, or used by the Company is or may be in violation of any Environmental Law or any applicable Law regarding Hazardous
Substances.

 

(b)
To the Key Sellers’ Knowledge, there has not been any spill, leak, discharge, injection, escape, leaching, dumping, disposal, or
release of any kind of any Hazardous Substances in material violation of any Environmental Law: (i) with respect to the business or assets
of the Company as currently conducted; or (ii) at, from, in, adjacent to, or on any real property currently or formerly owned, leased,
or used by the Company. To the Key Sellers’ Knowledge, there are no Hazardous Substances in, on, about, or migrating to any real
property currently or formerly owned, leased, or used by the Company, and such real property is not affected in any way by any Hazardous
Substances.

 

(c)
As used in this Agreement: (i) “Environmental Laws” means all Laws, now or hereafter in effect, in each case as amended
or supplemented from time to time, relating to the regulation and protection of human health, safety, the environment, and natural resources,
including any federal, state, or local transfer of ownership notification or approval statutes; and (ii) “Hazardous Substances”
means: (A) “hazardous materials,” “hazardous wastes,” “hazardous substances,” “industrial wastes,”
or “toxic pollutants,” as such terms are defined under any Environmental Laws; (B) any other hazardous or radioactive substance,
contaminant, or waste; and (C) any other substance with respect to which any Environmental Law or Governmental Authority requires environmental
investigation, regulation, monitoring, or remediation.

 

Section
5.17 Employee Benefit Matters.

 

(a)
Section 5.17(a) of the Disclosure Schedules contains a true and complete list of each “employee benefit plan” as defined
in Section 3(3) of the Employee Retirement Income Security Act of 1974 (as amended, and including the regulations thereunder, “ERISA”),
whether or not written and whether or not subject to ERISA, and each supplemental retirement, compensation, employment, consulting, profit-sharing,
deferred compensation, incentive, bonus, equity, change in control, retention, severance, salary continuation, and other similar agreement,
plan, policy, program, practice, or arrangement which is or has been established, maintained, sponsored, or contributed to by the Company
or under which the Company has or may have any Liability (each, a “Benefit Plan”).

 

(b)
For each Benefit Plan, Sellers have made available to Buyer accurate, current, and complete copies of each of the following: (i) the
plan document with all amendments, or if not reduced to writing, a written summary of all material plan terms; (ii) any written contracts
and arrangements related to such Benefit Plan, including trust agreements or other funding arrangements, and insurance policies, certificates,
and contracts; (iii) in the case of a Benefit Plan intended to be qualified under Section 401(a) of the Code, the most recent favorable
determination or national office approval letter issued by the Internal Revenue Service and any legal opinions issued thereafter with
respect to the Benefit Plan’s continued qualification; (iv) the most recent Form 5500 filed with respect to such Benefit Plan;
and (v) any material notices, audits, inquiries, or other correspondence from, or filings with, any Governmental Authority relating to
the Benefit Plan.

 

    	20

     

     

(c)
To the Key Sellers’ Knowledge, each Benefit Plan and related trust has been established, administered, and maintained in accordance
with its terms and in substantial compliance with all applicable Laws (including ERISA and the Code). To the Key Sellers’ Knowledge,
nothing has occurred with respect to any Benefit Plan that has subjected or could reasonably be expected to subject the Company or, with
respect to any period on or after the Closing Date, Buyer or any of its Affiliates, to a civil action, penalty, surcharge, or Tax under
applicable Law or which would jeopardize the previously-determined qualified status of any Benefit Plan. To the Key Sellers’ Knowledge,
all benefits, contributions, and premiums relating to each Benefit Plan have been timely paid in accordance with the terms of such Benefit
Plan and all applicable Laws and accounting principles. To the Key Sellers’ Knowledge, benefits accrued under any unfunded Benefit
Plan have been paid, accrued, or adequately reserved for to the extent required.

 

(d)
To the Key Sellers’ Knowledge, the Company has not incurred, and does not reasonably expect to incur: (i) any Liability under Title
I or Title IV of ERISA, any related provisions of the Code, or applicable Law relating to any Benefit Plan; or (ii) any Liability to
the Pension Benefit Guaranty Corporation. To the Key Sellers’ Knowledge, no complete or partial termination of any Benefit Plan
has occurred or is expected to occur.

 

(e)
The Company has not now or at any time within the previous six years contributed to, sponsored, or maintained: (i) any “multiemployer
plan” as defined in Section 3(37) of ERISA; (ii) any “single-employer plan” as defined in Section 4001(a)(15) of ERISA;
(iii) any “multiple employer plan” as defined in Section 413(c) of the Code; (iv) any “multiple employer welfare arrangement”
as defined in Section 3(40) of ERISA; (v) a leveraged employee stock ownership plan described in Section 4975 (e)(7) of the Code; or
(vi) any other Benefit Plan subject to required minimum funding requirements.

 

(f)
Other than as required under Sections 601 to 608 of ERISA or other applicable Law, no Benefit Plan provides post-termination or retiree
welfare benefits to any individual for any reason.

 

(g)
Neither the execution of this Agreement nor any of the transactions contemplated by this Agreement will, either alone or in combination
with any other event: (i) entitle any current or former director, officer, employee, independent contractor, or consultant of the Company
to any severance pay, increase in severance pay, or other payment; (ii) accelerate the time of payment, funding, or vesting, or increase
the amount of compensation (including stock-based compensation) due to any such individual; (iii) limit or restrict the right of the
Company to amend or terminate any Benefit Plan; (iv) increase the amount payable under any Benefit Plan; (v) result in any “excess
parachute payments” within the meaning of Section 280G(b) of the Code; or (vi) require a “gross-up” or other payment
to any “disqualified individual” within the meaning of Section 280G(c) of the Code.

 

    	21

     

     

Section
5.18 Employment Matters.

 

(a)
Section 5.18(a) of the Disclosure Schedules lists: (i) all employees, independent contractors, and consultants of the Company;
and (ii) for each individual described in clause (i), (A) the individual’s title or position, hire date, and compensation, (B)
any Contracts entered into between the Company and such individual, and (C) the fringe benefits provided to each such individual. All
compensation payable to all employees, independent contractors, or consultants of the Company for services performed on or prior to the
Closing Date have been paid in the ordinary course of business consistent with past practice.

 

(b)
The Company is not, and has not been, a party to or bound by any collective bargaining agreement or other Contract with a union or similar
labor organization (collectively, “Union”), and no Union has represented or purported to represent any employee of
the Company. There has never been, nor has there been any threat of, any strike, work stoppage, slowdown, picketing, or other similar
labor disruption or dispute affecting the Company or any of its employees.

 

(c)
To the Key Sellers’ Knowledge, the Company is, and has been at all times, in compliance in all material respects with all applicable
Laws and Orders regarding employment and employment practices, the terms and conditions of employment, non-discrimination, equal employment
opportunity, affirmative action, collective bargaining, payment of social security, occupational safety and health, wages and hours,
plant closing and workers compensation, including but not limited to the Immigration Reform and Control Act, Title VII of the Civil Rights
Act of 1964, as amended, the Fair Labor Standards Act, the Age Discrimination in Employment Act, the Americans with Disability Act, the
Family Medical & Leave Act, the National Labor Relations Act, the California Labor Code and regulations promulgated thereunder, the
WARN Act, ERISA, the Code and any other applicable Law governing, touching upon or concerning the employment relationship, including
any foreign Laws corresponding or similar to the foregoing. To the Key Sellers’ Knowledge, the Company has not engaged at any time
during the past three (3) years, and is not currently engaging, in any unfair labor practice. There are not any pending or, to the Key
Sellers’ Knowledge, threatened charges, claims, complaints, administrative complaints, or lawsuits alleging (i) breach of an employment
Contract (whether in fact, expressed or implied), (ii) a claim for workers’ compensation, (iii) any tort such as invasion of privacy,
defamation, or intentional infliction of emotional distress, or (iv) any violation of any employment Law, regulation or statute, including,
but not limited to, the statutes and Laws cited in this Section 5.18(a). The Company is not currently subject to any complaints,
charges, claims, consent decrees, judgments, arbitration awards, or Orders from any Governmental Authority concerning any applicable
Laws regarding employment and employment practices, the terms and conditions of employment, non-discrimination, equal employment opportunity,
affirmative action, collective bargaining, payment of social security, occupational safety and health, wages and hours, plant closing,
workers compensation, or any and all of the employment Laws, regulations or statutes cited above.

 

    	22

     

     

(d)
The Company is, and for the preceding three (3) years has been, in compliance in all material respects with all applicable Laws pertaining
to or relating to the migration of foreign nationals across borders, whether temporarily or permanently, and the Company’s employees
and contractors have verified their legal right to work in the applicable jurisdiction of their employment through documents consistent
with such Laws, including through Form I-9s.

 

(e)
To the Key Sellers’ Knowledge, no employee, officer or director of the Company is a party to, or is otherwise bound by, any confidentiality,
non-competition, proprietary rights agreement or similar agreement that would affect (i) the performance of his or her duties as an employee,
officer or director or (ii) the ability of Buyer to conduct the business of the Company as currently conducted after the Closing Date.

 

(f)
The Company has not incurred any Liability under the Worker Adjustment and Retraining Notification Act (the “WARN Act”)
or any similar local, state or foreign Law in the three year period preceding the Closing Date, and any requisite periods under the WARN
Act (or its local, state or foreign Law equivalent) have expired. During the ninety (90) day period ending on the Closing Date, the Company
has terminated zero employees.

 

Section
5.19 Taxes.

 

(a)
Except as disclosed in Section 5.19(a) of the Disclosure Schedules, all returns, declarations, reports, information returns and
statements, and other documents relating to Taxes (including amended returns and claims for refund) (collectively, “Tax Returns”)
required to be filed by the Company on or before the Closing Date have been timely filed. Such Tax Returns are true, correct, and complete
in all material respects. All Taxes due and owing by the Company (whether or not shown on any Tax Return) have been timely paid. No extensions
or waivers of statutes of limitations have been given or requested with respect to any Taxes of the Company. Section 5.19(a) of
the Disclosure Schedules includes copies of all Tax Returns and examination reports of the Company and statements of deficiencies assessed
against, or agreed to by, the Company for all Tax periods ending after 2016. The term “Taxes” means all federal, state,
local, foreign, and other income, gross receipts, sales, use, production, ad valorem, transfer, franchise, registration, profits, license,
lease, service, service use, withholding, payroll, employment, unemployment, estimated, excise, severance, environmental, stamp, occupation,
premium, property (real or personal), real property gains, windfall profits, customs, duties, or other taxes, fees, assessments, or charges
of any kind whatsoever, together with any interest, additions, or penalties with respect thereto.

 

(b)
The Company has not been a member of an affiliated, combined, consolidated, or unitary Tax group for Tax purposes. The Company has no
Liability for Taxes of any Person (other than the Company) under Treasury Regulations Section 1.1502-6 (or any corresponding provision
of state, local, or foreign Law), as transferee or successor, by contract, or otherwise.

 

    	23

     

    

 

(c)
There are no liens for Taxes (other than for current Taxes not yet due and payable) upon the assets of the Company.

 

(d)
The Company is not, nor has it been, a United States real property holding corporation (as defined in Section 897(c)(2) of the Code)
during the applicable period specified in Section 897(c)(1)(a) of the Code.

 

(e)
The Company is not a party to or bound by any Tax allocation or Tax-Sharing Agreement and has no contractual obligation to indemnify
any other person with respect to Taxes.

 

(f)
No adjustment for any Taxes has been (A) proposed, asserted or assessed in writing against the Company (or any affiliated, consolidated,
combined, unitary or similar group that includes the Company), or (B) to the Key Sellers’ Knowledge, proposed informally or threatened,
by any Tax authority with respect to the Company (or any affiliated, consolidated, combined, unitary or similar group that includes the
Company);

 

(g)
There are no pending or, to the Key Sellers’ Knowledge, threatened Tax proceedings or claims for the assessment or collection of
Taxes against the Company (or any affiliated, consolidated, combined, unitary or similar group that includes the Company).

 

(h)
There are no outstanding waivers or agreements (other than valid extensions) extending the statute of limitations for any period with
respect to any Tax to which the Company (or any affiliated, consolidated, combined, unitary or similar group that includes the Company)
may be subject nor have any such waivers or agreements been requested.

 

(i)
No power of attorney that is currently in force has been granted with respect to any matter relating to Taxes that could affect the Company
(or any affiliated, consolidated, combined, unitary or similar group that includes the Company).

 

Section
5.20 Affiliate Transactions.

 

(a)
Except as set forth in Section 5.20 of the Disclosure Schedules, there are no outstanding Contracts, payables, receivables, loans,
advances or other similar accounts between the Company, on the one hand, and any of its directors, officers, employees, stockholders
or other Affiliates, on the other hand;

 

(b)
To the Key Sellers’ Knowledge, no director, officer or employee of the Company possesses, directly or indirectly, any ownership
interest in, or is a manager, director, officer or employee of, any Person which is a supplier, customer, lessor, lessee, licensor, developer
or competitor of the Company; and

 

    	24

     

     

(c)
No shareholder, officer, employee or other Affiliate of the Company has any interest in any property or assets, real or personal, tangible
or intangible, used in or pertaining to the business of the Company as currently conducted.

 

Section
5.21 OSHA Compliance. To the Key Sellers’ Knowledge, the Company has duly complied with, and its facilities, business, assets,
and property are in compliance in all material respects with, the provisions of the federal Occupational Safety and Health Act, as amended
(or any corresponding or similar provision of state, local or foreign Law). The Company has not received any citations, notices, or orders
of noncompliance under the federal Occupational Safety and Health Act, as amended (or any corresponding or similar provision of state,
local or foreign Law), relating to the Company or the business.

 

Section
5.22 Payments; Export Control and Antiboycott Laws.

 

(a)
To the Key Sellers’ Knowledge, neither the Company nor any director, officer or employee of the Company, or, to Key Sellers’
Knowledge, agent of the Company or any other Person associated with or acting for or on behalf of the Company, has directly or indirectly
established or maintained any fund or asset for the benefit of the Company that has not been recorded in the books and records of the
Company; or

 

(b)
made any contribution, gift, bribe, rebate, payoff, influence payment, kickback, or other payment to any Person, regardless of form,
whether in money, property, or services (A) to obtain favorable treatment in securing business, (B) to pay for favorable treatment for
business secured, (C) to obtain special concessions or for special concessions already obtained, for or in respect of the Company or
any Affiliate of the Company, or (D) in violation of any Law.

 

(c)
To the Key Sellers’ Knowledge, the Company has at all times been in compliance in all material respects with all Laws relating
to export control and trade embargoes.

 

(d)
The Company has not violated the antiboycott prohibitions contained in 50 U.S.C. sect. 2401 et seq. (or any corresponding or similar
provision of state, local or foreign Law) or taken any action that can be penalized under Section 999 of the Code (or any corresponding
or similar provision of state, local or foreign Law).

 

Section
5.23 Books and Records. The minute books and stock record books of the Company, all of which have been made available to Buyer, are
complete and correct in all material respects and have been maintained in accordance with reasonable business practices. The minute books
of the Company contain accurate and materially complete records of all meetings, and actions taken by written consent of, the stockholders,
the board of directors and any committees of the board of directors of the Company, and no meeting, or material action taken by written
consent, of any such stockholders, board of directors or committee has been held for which minutes have not been prepared and are not
contained in such minute books. At the Closing, all of those books and records will be in the possession of the Company.

 

    	25

     

     

Section
5.24 Business Backlog and Proposals.

 

(a)
Section 5.24(a) of the Disclosure Schedules lists the true, correct and complete amounts of the Company’s backlog, work
in process and pipeline of business which is not completed or invoiced as of the date hereof. To the Key Sellers’ Knowledge, none
of such backlog, work in process and pipeline of business has been cancelled or materially reduced, and each is at a price and on terms
(including margin) consistent with the Company’s past practices. As of the date hereof, the Company has not been informed by any
customer or distributor that any material order included in the backlog, work in process and pipeline of business will be or is likely
to be canceled or terminated before its completion.

 

(b)
Section 5.24(b) of the Disclosure Schedules lists all of the Company’s proposals for business currently pending with customers
or any other counterparties, including the scope, dollar amount and other material terms of such proposals as of the date hereof.

 

Section
5.25 Bank Accounts. Section 5.25 of the Disclosure Schedules lists the details of each of the bank accounts of the Company.
As of the date hereof, the Company has an amount of cash in such bank accounts equal to $11,211.27.

 

Section
5.26 Brokers. No broker, finder, or investment banker is entitled to any brokerage, finder’s, or other fee or commission in
connection with the transactions contemplated by this Agreement or any other Transaction Document based upon arrangements made by or
on behalf of the Company.

 

ARTICLE
VI

REPRESENTATIONS AND WARRANTIES OF BUYER

 

Buyer
represents and warrants to Sellers that the statements contained in this Article VI are true and correct as of the date hereof.

 

Section
6.01 Organization and Authority of Buyer. Buyer is a corporation duly organized, validly existing, and in good standing under the
Laws of the state of Delaware. Buyer has full corporate power and authority to enter into this Agreement and the other Transaction Documents
to which Buyer is a party, to carry out its obligations hereunder and thereunder, and to consummate the transactions contemplated hereby
and thereby. The execution and delivery by Buyer of this Agreement and any other Transaction Document to which Buyer is a party, the
performance by Buyer of its obligations hereunder and thereunder, and the consummation by Buyer of the transactions contemplated hereby
and thereby have been duly authorized by all requisite corporate action on the part of Buyer. This Agreement and each Transaction Document
to which Buyer is a party constitute legal, valid, and binding obligations of Buyer enforceable against Buyer in accordance with their
respective terms.

 

    	26

     

     

Section
6.02 No Conflicts; Consents. The execution, delivery, and performance by Buyer of this Agreement and the other Transaction Documents
to which it is a party, and the consummation of the transactions contemplated hereby and thereby, do not and will not: (a) violate or
conflict with any provision of the certificate of formation, bylaws, or other governing documents of Buyer; (b) violate or conflict with
any provision of any Law or Governmental Order applicable to Buyer; or (c) require the consent, notice, declaration, or filing with or
other action by any Person or require any Permit, license, or Governmental Order.

 

Section
6.03 Investment Purpose. Buyer is acquiring the Shares solely for its own account for investment purposes and not with a view to,
or for offer or sale in connection with, any distribution thereof or any other security related thereto within the meaning of the Securities
Act of 1933, as amended (the “Securities Act”). Buyer acknowledges that Sellers have not registered the offer and
sale of the Shares under the Securities Act or any state securities laws, and that the Shares may not be pledged, transferred, sold,
offered for sale, hypothecated, or otherwise disposed of except pursuant to the registration provisions of the Securities Act or pursuant
to an applicable exemption therefrom and subject to state securities laws and regulations, as applicable.

 

Section
6.04 Brokers. No broker, finder, or investment banker is entitled to any brokerage, finder’s, or other fee or commission in
connection with the transactions contemplated by this Agreement or any other Transaction Document based upon arrangements made by or
on behalf of Buyer.

 

Section
6.05 OPT Shares as Consideration. The OPT Shares, when delivered pursuant to the terms of this Agreement, shall have been duly and
validly authorized and issued as fully-paid and non-assessable shares of OPT Common Stock in the capital of Buyer in accordance with
applicable Law, free and clear of any Encumbrances (other than those set forth in this Agreement and the Transaction Documents).

 

Section
6.06 Buyer Reports and Financial Statements.

 

(a)
The OPT Common Stock is listed and posted for trading on NYSE American and Buyer is a “reporting company” and is not in default
in any material respect in the performance of its obligations under the Securities Exchange Act of 1934, as amended (the “Exchange
Act”) and is in compliance, in all material respects, with the applicable rules, policies and regulations of the SEC. Buyer
has taken no action designed to, or likely to have the effect of, revoking its reporting company status in any jurisdiction where it
has such status nor has Buyer received any notification that any federal or state securities regulatory authority is contemplating revoking
Buyer’s reporting company status. No delisting of, suspension of trading in, or trading halt with respect to any securities of
Buyer is in effect or ongoing, and Buyer has not received any notification threatening any such delisting, suspension or trading halt.

 

    	27

     

     

(b)
No order, agreement or memorandum of understanding that contemplates ceasing or suspending trading in the securities of Buyer is outstanding
or in effect and no proceedings or agreement for this purpose have been instituted or, to the knowledge of Buyer, are pending, contemplated
or threatened.

 

(c)
Buyer has prepared and filed all documents required to be filed by it under the Exchange Act, and the rules of the SEC. All of the Buyer
Public Disclosure Documents were, as of their respective dates, in compliance in all material respects with the Exchange Act and the
rules of the SEC and did not, as of their respective dates, contain a misrepresentation or omit to state a material fact required to
be stated therein or necessary in order to make the statements made therein, in light of the circumstances under which they were made,
not misleading. “Buyer Public Disclosure Documents” means, collectively, all of the following documents: (a) Buyer’s
annual report for the fiscal year ended April 30, 2021 dated July 19, 2021; (b) the proxy statement of Buyer dated October 15, 2021 distributed
in connection with the annual meeting of shareholders held on December 13, 2021; (c) the audited consolidated financial statements of
Buyer for the fiscal years ended April 30, 2021 and April 30, 2020, and the notes thereto together with the report of the independent
auditors thereon, included in Buyer’s Annual Report on Form 10-K for the year ended April 30, 2021 (the “10-K”);
(d) management’s discussion and analysis of financial condition of Buyer included in the 10-K; (e) the unaudited consolidated
financial statements of Buyer for the fiscal quarters ended July 31, 2021 and July 31, 2020, and the notes thereto, included in Buyer’s
Quarterly Report on Form 10-Q for the quarter ended July 31, 2021 (the “10-Q”); and (f) management’s discussion
and analysis of financial condition of Buyer included in the 10-Q.

 

(d)
Other than the transactions contemplated by this Agreement, there has been no event, occurrence, incident, or circumstance which would
require the filing of a report or disclosure under the Securities Act and the rules of the SEC which has not been so reported or disclosed.

 

(e)
Since July 31, 2021, Buyer has (i) conducted its business in the ordinary course of business consistent with past practices (except as
disclosed in the Buyer Public Disclosure Documents) and (ii) used its commercially reasonable efforts to preserve the goodwill and organization
of its business and its relationships with its customers, vendors, employees and other Persons having business relations with Buyer.

 

Section
6.07 Independent Investigation. Buyer has conducted Buyer’s own independent investigation, review, and analysis of the Company
and the business, results of operations, prospects, condition (financial or otherwise), assets, and Liabilities of the Company, and acknowledges
(for itself and on behalf of its Affiliates and representatives) that Buyer has been provided adequate access to the personnel, premises
and properties, assets, books and records, and other documents and data of the Company for such purpose. Buyer acknowledges and agrees
that: (a) in making its decision to enter into this Agreement and to consummate the transactions contemplated hereby, Buyer has relied
solely upon its own investigation and the express representations and warranties of Sellers set forth in Article IV of this Agreement
(including the related portions of the Disclosure Schedules) and Company set forth in Article V of this Agreement (including the related
portions of the Disclosure Schedules); and (b) none of Sellers, the Company or any other Person has made any representation or warranty
as to Sellers, the Company or this Agreement, except as expressly set forth in Article IV and Articles V of this Agreement (including
the related portions of the Disclosure Schedules).

 

    	28

     

     

ARTICLE
VII

COVENANTS

 

Section
7.01 Confidentiality. From and after the Closing, each Seller shall, and shall cause its Affiliates and its and their respective
directors, officers, employees, consultants, counsel, accountants, and other agents (collectively, “Representatives”)
to hold, in confidence any and all information, in any form, concerning the Company, except to the extent that such Seller can show that
such information: (a) is generally available to and known by the public through no fault of such Seller, any of its Affiliates, or their
respective Representatives; or (b) is lawfully acquired by such Seller, any of its Affiliates, or their respective Representatives from
and after the Closing from sources which are not prohibited from disclosing such information by any obligation. If any Seller or any
of its Affiliates or their respective Representatives are compelled to disclose any information by Governmental Order or Law, such Seller
shall promptly notify Buyer in writing and shall disclose only that portion of such information which is legally required to be disclose;
provided that such Seller shall use reasonable best efforts to obtain as promptly as possible an appropriate protective order
or other reasonable assurance that confidential treatment will be accorded such information.

 

Section
7.02 Business Relationships. After the Closing, each Seller will, so long as he is serving as an employee of, or consultant to, the
Company or Buyer, use commercially reasonable efforts to cooperate with Buyer in its efforts to continue and maintain for the benefit
of Buyer those business relationships of the Company existing prior to the Closing and relating to the business of the Company including
relationships with lessors, employees, sales representatives, consultants, regulatory authorities, licensors, customers, suppliers and
others. Each Seller will refer to Buyer all inquiries relating to the business of the Company during the Restricted Period.

 

Section
7.03 Non-Competition; Non-Solicitation.

 

(a)
For a period of three years commencing on the Closing Date (the “Restricted Period”), each Seller shall not, and shall
not permit any of its Affiliates to, directly or indirectly: (i) engage in or assist others in engaging in competition with the business
of Buyer as of the date hereof (the “Restricted Business”) anywhere in the world (the “Territory”);
(ii) have an interest in any Person that engages directly or indirectly in the Restricted Business in the Territory in any capacity,
including as a partner, shareholder, director, officer, member, manager, employee, principal, agent, advisor, or consultant; provided
however, ownership of less than one percent (1%) of the outstanding stock of any publicly traded corporation shall not be deemed to violate
this restriction; or (iii) intentionally interfere in any material respect with the business relationships (whether formed prior to or
after the date of this Agreement) between the Company and customers or suppliers of the Company. For the avoidance of doubt, lines of
business that Sellers were engaged in at the Company prior to the Closing Date are not considered competitive with the business of Buyer.

 

    	29

     

     

(b)
During the Restricted Period, each Seller shall not, and shall not permit any of its Affiliates to, directly or indirectly, hire or solicit
any current or former employee of the Company or encourage any employee to leave the Company’s employment, except pursuant to a
general solicitation which is not directed specifically to any such employees; provided, that nothing in this Section 7.03(b)
shall prevent such Seller or any of its Affiliates from hiring: (i) any employee terminated by the Company; or (ii) after one hundred
eighty (180) days from the date of resignation, any employee that has resigned from the Company.

 

(c)
After the Closing Date, no Seller, its Affiliates or the officers, directors or employees of any such Affiliates will disparage the Business,
Buyer or any of the members, managers, officers, employees or agents of Buyer or the Company.

 

(d)
Each Seller acknowledges that a breach or threatened breach of this Section 7.03 would give rise to irreparable harm to Buyer, for which
monetary damages would not be an adequate remedy, and hereby agrees that in the event of a breach or a threatened breach by such Seller
of any such obligations, Buyer shall, in addition to any and all other rights and remedies that may be available to it in respect of
such breach, be entitled to equitable relief, including a temporary restraining order, an injunction, or specific performance (without
any requirement to post bond).

 

(e)
Each Seller acknowledges that the restrictions contained in this Section 6.03 are reasonable and necessary to protect the legitimate
interests of Buyer and constitute a material inducement to Buyer to enter into this Agreement and consummate the transactions contemplated
by this Agreement. In the event that any covenant contained in this Section 7.03 should ever be adjudicated to exceed the time, geographic,
product or service, or other limitations permitted by applicable Law in any jurisdiction or any Governmental Order, then any court is
expressly empowered to reform such covenant, and such covenant shall be deemed reformed, in such jurisdiction to the maximum time, geographic,
product or service, or other limitations permitted by applicable Law or such Governmental Order. The covenants contained in this Section
7.03 and each provision hereof are severable and distinct covenants and provisions. The invalidity or unenforceability of any such covenant
or provision as written shall not invalidate or render unenforceable the remaining covenants or provisions hereof, and any such invalidity
or unenforceability in any jurisdiction shall not invalidate or render unenforceable such covenant or provision in any other jurisdiction.
It shall not be a breach of this Section 7.03 for any Seller to provide services as an employee or consultant to Buyer or its Affiliates.

 

Section
7.04 Registration Rights; Share Ownership. Each Seller understands, acknowledges and agrees to the following:

 

(a)
Within five (5) Business Days of the Closing, Buyer shall file with (or confidentially submit to) the SEC a resale registration statement
to register the Closing OPT Shares issued to the Sellers and shall use its reasonable efforts to cause such registration statement to
be declared effective by the SEC as soon as practicable thereafter.

 

    	30

     

     

(b)
One-half of the shares of OPT Common Stock issued to Mark Gundersen will be restricted from trading for a twelve-month period from the
Closing Date. The remaining one-half of the shares of OPT Common Stock issued to Mark Gundersen and all other shares of OPT Common Stock
issued to Sellers who will provide services to Buyer post-Closing will be subject to a six-month holding period under Rule 144 of the
Securities Act (“Rule 144”) from the Closing Date. The shares of OPT Common Stock issued to Sellers who will not provide
employment services to Buyer post-Closing will be restricted from trading under the earlier of (i) registration of the OPT Shares with
the U.S. Securities and Exchange Commission (the “SEC”) or (ii) expiration of the six-month holding period under Rule
144 from the Closing Date.

 

(c)
Seller understands, acknowledges and agrees with Buyer as follows: (i) the issuance of the OPT Shares is intended to be exempt from registration
under the Securities Act, by virtue of Section 4(2) of the Securities Act, which is in part dependent upon the truth, completeness and
accuracy of the statements made by Seller herein; and (ii) there can be no assurance that Seller will be able to sell or dispose of any
of the OPT Shares.

 

(d)
Seller acknowledges and agrees that it has executed and will comply at all times while a stockholder of the Company with all applicable
policies, rules and regulations of Company, including, without limitation, its Insider Trading Policy.

 

(e)
Seller understands, acknowledges and agrees that, as a result of the acquisition of OPT Common Stock, it may be required to file with
the SEC a Schedule 13D (Information to Be Included in Statements Filed Pursuant to Rule 13d-1(a) and Amendments Thereto Filed Pursuant
to Rule 13d-2(a)) and a Form 3 (Initial Statement of Beneficial Ownership of Securities). Seller further understands, acknowledges and
agrees that it has the sole responsibility to amend these documents as necessary after they are filed and Buyer shall have no liability
or obligation to it with respect thereto.

 

(f)
Until the expiration of the Earnout Period, at any meeting of stockholders of Buyer or at any adjournment thereof or in any other circumstances
upon which a vote, consent or other approval (including by written consent) is sought, Seller shall, including by executing a written
consent or proxy if requested by Buyer, vote (or cause to be voted) its shares of OPT Common Stock in favor of each director nominated
by the board of directors of Buyer and in favor of any proposal which the board of directors of Buyer recommends to the other stockholders
of Buyer. For the avoidance of doubt, this Agreement is intended to constitute a voting agreement entered into under Section 218(c) of
the Delaware General Corporation Law.

 

    	31

     

     

(g)
Until the expiration of the Earnout Period, neither Seller nor any of its affiliates, shall, without the prior written consent of the
board of directors of Buyer, directly or indirectly, (a) effect or seek, offer or propose (whether publicly or otherwise) to effect,
or cause or participate in or in any way assist any other person to effect or seek, offer or propose (whether publicly or otherwise)
to effect or participate in, (i) any acquisition of any securities or rights to acquire any securities (or any other beneficial ownership
thereof) or assets of Buyer or any of its subsidiaries (provided that the foregoing shall not apply to any acquisition of securities
under the terms hereof); (ii) any merger or other business combination or tender or exchange offer involving Buyer or any of its subsidiaries;
(iii) any “solicitation” of “proxies” (as such terms are used in the proxy rules of the SEC) or consents to vote
with respect to any voting securities of the Buyer, or any communication exempted from the definition of “solicitation” by
Rule 14a-1(l)(2)(iv) under the Exchange Act; (b) form, join or in any way participate in a “group” (as defined under the
Exchange Act) with respect to Buyer; (c) have any discussions or enter into any arrangements, understandings or agreements (oral or written)
with, or advise, finance, assist or actively encourage, any third party with respect to any of the matters set forth in this Section
7.04(h), or make any investment in any other person that engages, or offers or proposes to engage, in any of such matters; (d) take any
action which might cause or require Buyer, Seller and/or their affiliates to make a public announcement regarding any of the types of
matters set forth in this Section 7.04(h); or (e) disclose any intention, plan or arrangement relating to any of the foregoing.

 

(h)
Each Seller acknowledges and agrees that the OPT Shares shall bear the following legend:

 

THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (“ACT”),
OR THE SECURITIES LAWS OF ANY STATE (“STATE ACT”) AND MAY NOT BE TRANSFERRED, SOLD, HYPOTHECATED OR OTHERWISE DISPOSED OF,
UNLESS (I) PURSUANT TO A REGISTRATION STATEMENT (AS SUCH TERM IS DEFINED IN THE ACT) WHICH HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE
COMMISSION AND HAS BECOME EFFECTIVE, AND PURSUANT TO ANY REGISTRATION REQUIRED PURSUANT TO ANY APPLICABLE STATE ACT, OR (II) AN EXEMPTION
FROM REGISTRATION UNDER THE ACT AND ANY APPLICABLE STATE ACT IS AVAILABLE AND THE ISSUER HAS RECEIVED AN OPINION OF COUNSEL, SATISFACTORY
TO THE ISSUER, THAT SUCH TRANSFER WILL NOT BE IN VIOLATION OF THE ACT OR ANY STATE ACT.

 

THE
ISSUER IS AUTHORIZED TO ISSUE SHARES OF MORE THAN ONE CLASS OF STOCK OR MORE THAN ONE SERIES OF A CLASS. THE ISSUER WILL FURNISH A STATEMENT
OF THE POWERS, DESIGNATIONS, PREFERENCES AND RELATIVE, PARTICIPATING, OPTIONAL OR OTHER SPECIAL RIGHTS OF EACH CLASS OF STOCK OR SERIES
THEREOF AND THE QUALIFICATIONS, LIMITATIONS OR RESTRICTIONS OF SUCH PREFERENCES AND/OR RIGHTS, WITHOUT CHARGE, TO THE HOLDER OF THIS
CERTIFICATE UPON RECEIPT BY THE ISSUER AT ITS PRINCIPAL PLACE OF BUSINESS OR REGISTERED OFFICE OF A WRITTEN REQUEST FROM THE HOLDER REQUESTING
SUCH COPY.

 

    	32

     

     

THE
SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO AN INDEMNIFICATION OBLIGATION SPECIFIED IN THE UNIT PURCHASE AGREEMENT BETWEEN
THE ISSUER AND THE HOLDER OF THIS CERTIFICATE, A COPY OF WHICH IS ON FILE AT THE PRINCIPAL OFFICE OF THE ISSUER. THE ISSUER WILL FURNISH
WITHOUT CHARGE A COPY OF SUCH UNIT PURCHASE AGREEMENT TO THE RECORD HOLDER OF THIS CERTIFICATE UPON RECEIPT BY THE ISSUER AT ITS PRINCIPAL
PLACE OF BUSINESS OR REGISTERED OFFICE OF A WRITTEN REQUEST FROM THE HOLDER REQUESTING SUCH COPY.

 

(i)
Seller agrees that for a period of three (3) months following the effective date of the resale registration statement contemplated by
Section 7.04(a) (the “Leak-Out Period”), Seller will not transfer, sell, contract to sell, devise, gift, assign, pledge,
hypothecate, distribute or grant any option to purchase or otherwise dispose of, the OPT Closing Shares, directly or indirectly, except
as provided in Section 7.04(i). During the Leak-Out Period, Seller shall not sell in one (1) Trading Day, directly or indirectly, an
aggregate number of shares of OPT Common Stock in excess of twenty (20%) of the shares of OPT Common Stock held by Seller.

 

Section
7.05 No Claim Against the Company. Effective as of the Closing, each Seller waives any and all rights of indemnification, contribution
and other similar rights against the Company (whether arising pursuant to the Company’s certificate of incorporation, bylaws or
other organizational documents, any Contract, any Law or otherwise) arising out of the representations, warranties, covenants and agreements
contained in the Transaction Documents and/or out of the negotiation, execution and performance of the Transaction Documents, and agrees
that any claim of any Buyer Indemnitee, whether for indemnity or otherwise, may be asserted directly against any Seller (to the extent
provided herein), without any need for any claim against, or joinder of, the Company.

 

Section
7.06 Further Assurances. Following the Closing, each of the parties hereto shall, and shall cause their respective Affiliates to,
execute and deliver such additional documents and instruments and take such further actions as may be reasonably required to carry out
the provisions hereof and give effect to the transactions contemplated by this Agreement and the other Transaction Documents.

 

ARTICLE
VIII

TAX MATTERS

 

Section
8.01 Tax Covenants.

 

(a)
Without the prior written consent of Buyer, no Seller shall, to the extent it may affect or related to the Company: (i) make, change,
or rescind any Tax election; (ii) amend any Tax Return; (iii) take any position on any Tax Return; or (iv) take any action, omit to take
any action, or enter into any other transaction that would have the effect of increasing the Tax liability or reducing any Tax asset
of Buyer or the Company, in respect of any taxable period that begins after the Closing Date or, in respect of any taxable period that
begins on or before and ends after the Closing Date (each such period, a “Straddle Period”), the portion of such Straddle
Period beginning after the Closing Date.

 

    	33

     

     

(b)
All transfer, documentary, sales, use, stamp, registration, value added, and other such Taxes and fees (including any penalties and interest)
incurred in connection with this Agreement and the other Transaction Documents shall be borne and paid one-half by Sellers and one-half
by Buyer when due. Each Party shall, at its own expense, timely file any Tax Return or other document with respect to such Taxes or fees
(and the Parties shall cooperate with respect thereto as necessary).

 

(c)
Buyer shall prepare, or cause to be prepared, at Buyer’s sole cost, all Tax Returns required to be filed by the Company after the
Closing Date with respect to any taxable period or portion thereof ending on or before the Closing Date and all Straddle Period Tax Returns.
Any such Tax Return shall be prepared in a manner consistent with past practice (unless otherwise required by Law) and without a change
of any election or any accounting method.

 

Section
8.02 Straddle Period. In the case of Taxes that are payable with respect to a Straddle Period, the portion of any such Taxes that
are allocated to Pre-Closing Tax Periods for purposes of this Agreement shall be: (a) in the case of Taxes (i) based upon, or related
to, income, receipts, profits, wages, capital, or net worth, (ii) imposed in connection with the sale, transfer, or assignment of property,
or (iii) required to be withheld, the amount of Taxes which would be payable if the taxable year ended with the Closing Date, and for
subsections (i)-(iii), and the Tax Returns were prepared consistent with the Company’s existing accounting principles as of Closing;
and (b) in the case of other Taxes, the amount of such Taxes for the entire period multiplied by a fraction, the numerator of which is
the number of days in the period ending on the Closing Date and the denominator of which is the number of days in the entire period.

 

Section
8.03 Termination of Existing Tax Sharing Agreements. Any and all existing Tax sharing agreements (whether written or not) binding
upon the Company shall be terminated as of the Closing Date. After such date neither the Company, any Seller, nor any of such Seller’s
Affiliates and their respective Representatives shall have any further rights or liabilities thereunder.

 

Section
8.04 Tax Indemnification. Each Seller on a several basis, and not a joint and several basis, based on each Seller’s pro rata
ownership of Shares, shall indemnify the Company, Buyer, and each Buyer Indemnitee and hold them harmless from and against (a) any loss,
damage, liability, deficiency, Action, judgment, interest, award, penalty, fine, cost or expense of whatever kind (collectively, including
reasonable attorneys’ fees and the cost of enforcing any right to indemnification under this Agreement, “Losses”)
attributable to any breach of or inaccuracy in any representation or warranty made in Section 5.19; (b) any Loss attributable to any
breach or violation of, or failure to fully perform, any covenant, agreement, undertaking, or obligation in Article VIII; (c) all Taxes
of any member of an affiliated, consolidated, combined, or unitary group of which the Company (or any predecessor of the Company) is
or was a member on or prior to the Closing Date by reason of a liability under Treasury Regulation Section 1.1502-6 or any comparable
provisions of foreign, state, or local Law; and (d) any and all Taxes of any Person imposed on the Company arising under the principles
of transferee or successor liability or by contract, relating to an event or transaction occurring before the Closing Date. In each of
the above cases, together with any out-of-pocket fees and expenses (including attorneys’ and accountants’ fees) incurred
in connection therewith, each Seller shall reimburse Buyer for any Taxes of the Company that are the responsibility of such Seller pursuant
to this Section 8.04 within ten (10) Business Days after payment of such Taxes by Buyer or the Company. For the avoidance of doubt, the
Sellers shall not be liable for any Taxes allocated to Pre-Closing Tax Periods.

 

    	34

     

     

Section
8.05 Cooperation and Exchange of Information. Each Seller and Buyer shall provide each other with such cooperation and information
as either of them reasonably may request of the other in filing any Tax Return pursuant to this Article VIII or in connection with any
proceeding in respect of Taxes of the Company, including providing copies of relevant Tax Returns and accompanying documents. Each Seller
and Buyer shall retain all Tax Returns and other documents in its possession relating to Tax matters of the Company for any Pre-Closing
Tax Period (collectively, “Tax Records”) until the expiration of the statute of limitations of the taxable periods
to which such Tax Records relate and will offer one another possession of the same before disposing of such Tax Records.

 

Section
8.06 Survival. Notwithstanding anything in this Agreement to the contrary, the provisions of Section 5.19 and this Article VIII shall
survive for the full period of all applicable statutes of limitations (giving effect to any waiver, mitigation, or extension thereof)
plus 60 days.

 

ARTICLE
IX

INDEMNIFICATION

 

Section
9.01 Indemnification by Sellers. Subject to the other terms and conditions of this Article IX, Sellers on a several basis, and not
a joint and several basis, based on each Seller’s pro rata ownership of Shares, shall indemnify and defend each of Buyer and its
Affiliates (including the Company) and their respective Representatives (collectively, the “Buyer Indemnitees”) against,
and shall hold each of them harmless from and against, and shall pay and reimburse each of them for, any and all Losses incurred or sustained
by, or imposed upon, the Buyer Indemnitees based upon, arising out of, with respect to, or by reason of:

 

(a)
any inaccuracy in or breach of any of the representations or warranties contained in Article IV and Article V of this Agreement or the
other Transaction Documents;

 

(b)
any breach or non-fulfillment of any covenant, agreement, or obligation to be performed by Sellers pursuant to this Agreement or the
other Transaction Documents; or

 

(c)
those matters set forth in Section 9.01(c) of the Disclosure Schedules.

 

    	35

     

     

Section
9.02 Indemnification by Buyer. Subject to the other terms and conditions of this Article IX, Buyer shall indemnify and defend each
Seller and their Affiliates and their respective Representatives (collectively, the “Seller Indemnitees”) against,
and shall hold each of them harmless from and against, and shall pay and reimburse each of them for, any and all Losses incurred or sustained
by, or imposed upon, the Seller Indemnitees based upon, arising out of, with respect to, or by reason of:

 

(a)
any inaccuracy in or breach of any of the representations or warranties contained in Article VI of this Agreement or the other Transaction
Documents; or

 

(b)
any breach or non-fulfillment of any covenant, agreement, or obligation to be performed by Buyer pursuant to this Agreement.

 

Section
9.03 Indemnification Procedures. Whenever any claim shall arise for indemnification hereunder, the party entitled to indemnification
(the “Indemnified Party”) shall promptly provide written notice of such claim to the other party (the “Indemnifying
Party”). In connection with any claim giving rise to indemnity hereunder resulting from or arising out of any Action by a Person
who is not a party to this Agreement, the Indemnifying Party, at its sole cost and expense and upon written notice to the Indemnified
Party, may assume the defense of any such Action with counsel reasonably satisfactory to the Indemnified Party. The Indemnified Party
shall be entitled to participate in the defense of any such Action, with its counsel and at its own cost and expense. If the Indemnifying
Party does not assume the defense of any such Action, the Indemnified Party may, but shall not be obligated to, defend against such Action
in such manner as it may deem appropriate, including settling such Action, after giving notice of it to the Indemnifying Party, on such
terms as the Indemnified Party may deem appropriate and no action taken by the Indemnified Party in accordance with such defense and
settlement shall relieve the Indemnifying Party of its indemnification obligations herein provided with respect to any damages resulting
therefrom. The Indemnifying Party shall not settle any Action without the Indemnified Party’s prior written consent (which consent
shall not be unreasonably withheld or delayed).

 

Section
9.04 Survival; Indemnity Limits.

 

(a)
Subject to the limitations and other provisions of this Agreement, all representations and warranties contained herein and all related
rights to indemnification shall survive the Closing and shall remain in full force and effect until the date that is fifteen (15) months
from the Closing Date; provided, however, that the representations and warranties in (a) Section 4.01, Section 4.03, Section 4.28,
Section 5.01, Section 5.04 and Section 5.26 shall survive indefinitely; and (b) Section 4.17, Section 4.18 and Section 4.20 shall survive
for the full period of all applicable statutes of limitations (giving effect to any waiver, mitigation, or extension thereof) plus sixty
(60) days. None of the covenants or other agreements contained in this Agreement shall survive the Closing Date other than those which
by their terms contemplate performance after the Closing Date, and each such surviving covenant and agreement shall survive the Closing
for the period contemplated by its terms. For the avoidance of doubt, the Parties hereby agree and acknowledge that the survival period
set forth in this Section 9.04 is a contractual statute of limitations and any claim brought by any Party pursuant to this Article IX
must be brought or filed prior to the expiration of the survival period. Notwithstanding the foregoing, any claims which are timely asserted
in good faith with reasonable specificity (to the extent known at such time) and in writing by notice from the non-breaching party to
the breaching party prior to the expiration date of the applicable survival period shall not thereafter be barred by the expiration of
the relevant representation or warranty and such claims shall survive until finally resolved.

 

    	36

     

     

(b)
The Buyer Indemnitees shall not have the right to be indemnified pursuant to Section 9.01 for any Losses until the Buyer Indemnitees
have suffered aggregate Losses by reason thereof in excess of an amount equal to $55,000 (the “Indemnification Deductible”),
at which time the Sellers will be obligated to indemnify the Buyer Indemnitees for Losses from the amount of the Indemnification Deductible
up to an amount equal to $1,600,000 (the “Indemnification Cap”); provided that the Indemnification Deductible and
Indemnification Cap shall not apply to claims for fraud (whether the burden for proving intent or fraud rests with the Buyer) or the
misrepresentation, breach or inaccuracy of any representation or warranty made by the Sellers in Section 4.01, Section 4.06, Section
5.02, Section 5.16, Section 5.17, and Section 5.19. For purposes of determining the amount of Losses resulting from such breach, any
inaccuracy in or breach of any representation or warranty shall be determined without regard to any materiality, Material Adverse Effect
or other similar qualification contained in or otherwise applicable to such representation or warranty. In no event will the aggregate
Losses for which the Sellers are obligated to indemnify the Buyer Indemnitees exceed the Base Amount of the Purchase Price.

 

(c)
To the extent that there are Losses that are finally determined to be owed by any Seller to the Buyer under this Article IX, subject
to the limitations set forth in this Section 9.04, Buyer shall, at Buyer’s sole discretion, be entitled to (i) cause such Seller
to redeem the number of OPT Shares issued to such Seller under this Agreement equal to the amount of the Loss owed by such Seller divided
by the final trading price of OPT Shares on the date the amount of the Loss is finally determined, (ii) deduct the amount of such Loss
from the Earnout Payment owed by Buyer to such Seller pursuant to Section 2.03 or (iii) any combination of the foregoing.

 

Section
9.05 Tax Claims. Notwithstanding any other provision of this Agreement, the control of any claim, assertion, event, or proceeding
in respect of Taxes of the Company (including, but not limited to, any such claim in respect of a breach of the representations and warranties
in Section 5.20 hereof or any breach or violation of or failure to fully perform any covenant, agreement, undertaking, or obligation
in Article VIII) shall be governed exclusively by Article VIII hereof.

 

Section
9.06 Cumulative Remedies. The rights and remedies provided for in this Article IX (and in Article VIII) are cumulative and are in
addition to and not in substitution for any other rights and remedies available at Law or in equity or otherwise.

 

    	37

     

     

ARTICLE
X

MISCELLANEOUS

 

Section
10.01 Expenses. Except as otherwise contemplated by this Agreement, all costs and expenses incurred in connection with this Agreement
and the transactions contemplated hereby shall be paid by the party incurring such costs and expenses.

 

Section
10.02 Notices. All notices, claims, demands, and other communications hereunder shall be in writing and shall be deemed to have been
given: (a) when delivered by hand (with written confirmation of receipt); (b) when received by the addressee if sent by a nationally
recognized overnight courier (receipt requested); (c) on the date sent by facsimile or email of a PDF document (with confirmation of
transmission) if sent during normal business hours of the recipient, and on the next business day if sent after normal business hours
of the recipient; or (d) on the third day after the date mailed, by certified or registered mail, return receipt requested, postage prepaid,
if sent to the respective parties at the following addresses (or at such other address for a party as shall be specified in a notice
given in accordance with this Section 10.02):

 

	If
    to Sellers:	To
    the addresses set forth on Schedule A.

    

     

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

    Facsimile: 866-702-2317

    Email: cmorrow@scheuringlaw.com

    Attention: Crista Morrow
	 	 
	If
    to Buyer:	Ocean
    Power Technologies, Inc.

    Email: pstratmann@oceanpowertech.com

    Attention: Philipp Stratmann, Chief Executive Officer
	 	 
	with
    a copy (which shall not constitute notice) to:	 

     

    Ocean
    Power Technologies, Inc.

    Email: jlawrence@oceanpowertech.com

    Attention: General Counsel

     

    Porter
    Hedges LLP

    Facsimile: 713-226-6282

    Email: kpoli@porterhedges.com

    Attention: Kevin J. Poli

 

Section
10.03 Interpretation; Headings. This Agreement shall be construed without regard to any presumption or rule requiring construction
or interpretation against the party drafting an instrument or causing any instrument to be drafted. The headings in this Agreement are
for reference only and shall not affect the interpretation of this Agreement.

 

    	38

     

     

Section
10.04 Severability. If any term or provision of this Agreement is invalid, illegal, or unenforceable in any jurisdiction, such invalidity,
illegality, or unenforceability shall not affect any other term or provision of this Agreement.

 

Section
10.05 Entire Agreement. This Agreement and the other Transaction Documents constitute the sole and entire agreement of the parties
to this Agreement with respect to the subject matter contained herein and therein, and supersede all prior and contemporaneous understandings
and agreements, both written and oral, with respect to such subject matter. In the event of any inconsistency between the statements
in the body of this Agreement and those in the other Transaction Documents, any exhibits, and the Disclosure Schedules (other than an
exception expressly set forth as such in the Disclosure Schedules), the statements in the body of this Agreement will control.

 

Section
10.06 Successors and Assigns. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their
respective successors and permitted assigns. Neither party may assign its rights or obligations hereunder without the prior written consent
of the other party, which consent shall not be unreasonably withheld or delayed. No assignment shall relieve the assigning party of any
of its obligations hereunder.

 

Section
10.07 Amendment and Modification; Waiver. This Agreement may only be amended, modified, or supplemented by an agreement in writing
signed by each party hereto. No waiver by any party of any of the provisions hereof shall be effective unless explicitly set forth in
writing and signed by the party so waiving. No failure to exercise, or delay in exercising, any right or remedy arising from this Agreement
shall operate or be construed as a waiver thereof. No single or partial exercise of any right or remedy hereunder shall preclude any
other or further exercise thereof or the exercise of any other right or remedy.

 

Section
10.08 Governing Law; Submission to Jurisdiction. All matters arising out of or relating to this Agreement shall be governed by and
construed in accordance with the internal laws of the State of Delaware without giving effect to any choice or conflict of law provision
or rule (whether of the State of Delaware or any other jurisdiction). Any legal suit, action, proceeding, or dispute arising out of or
related to this Agreement, the other Transaction Documents, or the transactions contemplated hereby or thereby may be instituted in the
federal courts of the United States of America or the courts of the State of Delaware in each case located in the city of Wilmington
and county of New Castle, and each party irrevocably submits to the exclusive jurisdiction of such courts in any such suit, action, proceeding,
or dispute.

 

Section
10.09 Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together
shall be deemed to be one and the same agreement. A signed copy of this Agreement delivered by email or other means of electronic transmission
shall be deemed to have the same legal effect as delivery of an original signed copy of this Agreement.

 

[signature
page follows]

 

    	39

     

     

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

 

	 	SELLERS:
	 	 
	 	/s/ Mark
    Gundersen
	 	Mark Gundersen, an individual
	 	 
	 	/s/ Masazumi
    Ishi
	 	Masazumi Ishii, an individual
	 	 
	 	/s/ Attilio
    Angelini
	 	Attilio Angelini, an individual
	 	 
	 	/s/ Pierluigi
    Zappacosta
	 	Pierluigi Zappacosta, an individual
	 	 
	 	THE Isabella
    Conti and Ugo Conti LIVING Trust dated
    March 3, 2003, amended and restated October 13, 2004
	 	 	 
	 	By:	/s/ Isabella
    Conti
	 	Name:	Isabella Conti
	 	Title:	Co-Trustee
	 	 	 
	 	By:	/s/ Ugo
    Conti
	 	Name:	Ugo Conti
	 	Title:	Co-Trustee
	 	 	 
	 	Sundance
    Trust U/A/D 1/17/02
	 	 	 
	 	By:	/s/ David
    Hitz
	 	Name:	David Hitz
	 	Title:	Trustee
	 	 	 
	 	AART J. DE GEUS SEPARATE PROPERTY
    TRUST U/A/D 09/08/99
	 	 	 
	 	By:	/s/
    Aart J. de Geus
	 	Name:	Aart J. de Geus
	 	Title:	Trustee
	 	 	 
	 	THE EZIO VALDEVIT REVOCABLE TRUST
	 	 	 
	 	By:	/s/ Ezio
    Valdevit
	 	Name:	Ezio Valdevit
	 	Title:	Trustee

 

	 	THE
    deborah a. coleman Trust, dated april 26, 2006
	 	 	 
	 	By:	/s/
    John M. Boylston
	 	Name:	John
    M. Boylston
	 	Title:	Trustee

 

	 	pacific
    premier Trust, custodian fbo mark gundersen ira
	 	 	 
	 	By:	/s/
    Stephen Willoughby
	 	Name:	Stephen Willoughby
	 	Title:
    	Asset Maintenance Specialist
	 	 	 
	 	 	 
	 	jones
    wagner family llc
	 	 	 
	 	By:	/s/
    Michael Jones
	 	Name:	Michael
    Jones
	 	Title:	Manager

 

[Signature
Page to Stock Purchase Agreement]

 

    	 

     

     

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

 

 

	 	BUYER:
	 	 
	 	OCEAN POWER TECHNOLOGIES, INC.
	 	 	 
	 	By:	/s/ Philipp
    Stratmann
	 	Name:	Philipp Stratmann
	 	Title:	Chief Executive Officer

 

[Signature
Page to Stock Purchase Agreement]

 

    	 

     

     

EXHIBIT
A

 

DEFINITIONS

 

As
used in the Agreement, the following terms have the meanings set forth below:

 

“5-Day
Trailing VWAP” means an amount equal to the volume-weighted average of the closing sale prices of the OPT Common Stock on NYSE
American for each of the five (5) trading days immediately prior to the date on which the 5-Day Trailing VWAP is measured. 

 

“10-K”
has the meaning set forth in Section 6.06(c).

 

“10-Q”
has the meaning set forth in Section 6.06(c).

 

“30-Day
Trailing VWAP” means an amount equal to the volume-weighted average of the closing sale prices of the OPT Common Stock on NYSE
American for each of the thirty (30) trading days immediately prior to the date on which the 30-Day Trailing VWAP is measured. 

 

“Actions”
has the meaning set forth in Section 5.14(a).

 

“Additional
Working Capital Injection” has the meaning set forth in Section 2.04.

 

“Affiliate”
has the meaning set forth in Section 5.13(a).

 

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

 

“Balance
Sheet” has the meaning set forth in Section 5.05.

 

“Balance
Sheet Date” has the meaning set forth in Section 5.05.

 

“Base
Amount” has the meaning set forth in Section 2.02(a).

 

“Benefit
Plan” has the meaning set forth in Section 5.17(a).

 

“Board”
has the meaning set forth in Section 3.02(e).

 

“Business”
means the design, development, manufacture and sale of autonomous vessel technology for the blue economy.

 

“Buyer”
has the meaning set forth in the Preamble.

 

“Buyer
Indemnitees” has the meaning set forth in Section 9.01.

 

“Buyer
Public Disclosure Documents” has the meaning set forth in Section 6.06(c).

 

“Cash
on Hand” means the aggregate amount (if any) of cash of the Company (including third party checks, deposits or wire transfers
received but not yet deposited, and reduced by the amount of any unpaid checks, drafts or wire transfers issued against the accounts
of the Company).

 

    	Exhibit A, Page 1
	Stock Purchase Agreement -

     

     

“Closing”
has the meaning set forth in Section 3.01.

 

“Closing
Cash on Hand” means the Cash on Hand as of the open of business on the Closing Date.

 

“Closing
Date” has the meaning set forth in Section 3.01.

 

“Closing
Indebtedness” means the outstanding Indebtedness of the Company as of the open of business on the Closing Date.

 

“Closing
OPT Shares” has the meaning set forth in Section 2.02(a).

 

“Closing
Payment” has the meaning set forth in Section 2.02(c).

 

“Closing
Seller Transaction Expenses” means the amount of Seller Transaction Expenses of the Sellers or the Company remaining unpaid
as of the open of business on the Closing Date.

 

“Code”
has the meaning set forth in Section 3.02(h).

 

“Common
Stock” has the meaning set forth in Section 5.02(a).

 

“Company”
has the meaning set forth in the Preamble.

 

“Company
Intellectual Property” has the meaning set forth in Section 5.10(b).

 

“Company
IP Registrations” has the meaning set forth in Section 5.10(b).

 

“Company’s
Knowledge” means the actual knowledge of Isabella Conti, Ugo Conti or Mark Gundersen without inquiry.

 

“Consulting
Agreement” has the meaning set forth in Section 3.02(d).

 

“Contracts”
has the meaning set forth in Section 5.04.

 

“Control”
has the meaning set forth in Section 5.13(a).

 

“Disclosure
Schedules” has the meaning set forth in Article IV.

 

“Earnout
Dispute Notice” has the meaning set forth in Section 2.03(d).

 

“Earnout
Notice” has the meaning set forth in Section 2.03(c).

 

“Earnout
Payment” has the meaning set forth in Section 2.03(a).

 

“Earnout
Period” has the meaning set forth in Section 2.03(b)(iv).

 

“Employment
Agreement” has the meaning set forth in Section 3.02(c).

 

    	Exhibit A, Page 2
	Stock Purchase Agreement -

     

     

“Encumbrance”
has the meaning set forth in Section 2.01.

 

“Environmental
Laws” has the meaning set forth in Section 5.16(c).

 

“ERISA”
has the meaning set forth in Section 5.17(a).

 

“Estimated
Closing Cash on Hand” has the meaning set forth in Section 2.02(b).

 

“Estimated
Closing Payment” has the meaning set forth in Section 2.02(b).

 

“Estimated
Closing Seller Transaction Expenses” has the meaning set forth in Section 2.02(b).

 

“Estimated
Closing Statement” has the meaning set forth in Section 2.02(b).

 

“Exchange
Act” has the meaning set forth in Section 6.06(a).

 

“Existing
Bookings” means all valid and binding customer contracts entered into on or prior to the Closing Date, by and between the Company
and any customer to provide services in the ordinary course of the business of the Company, as set forth on Exhibit B.

 

“Financial
Statements” has the meaning set forth in Section 5.05.

 

“First
Earnout Period” has the meaning set forth in Section 2.03(b)(ii).

 

“Governmental
Authority” means any federal, state, local, or foreign government or political subdivision thereof, or any agency or instrumentality
of such government or political subdivision, or any arbitrator, court, or tribunal of competent jurisdiction.

 

“Governmental
Order” has the meaning set forth in Section 5.04.

 

“Gundersen”
has the meaning set forth in Section 2.02(c).

 

“Hazardous
Substances” has the meaning set forth in Section 5.16(c).

 

“Indebtedness”
means, without duplication and with respect to the Company, all (a) indebtedness for borrowed money; (b) obligations for the deferred
purchase price of property or services, (c) long or short-term obligations evidenced by notes, bonds, debentures or other similar instruments;
(d) obligations under any interest rate, currency swap or other hedging agreement or arrangement; (e) capital lease obligations; (f)
reimbursement obligations under any letter of credit, banker’s acceptance or similar credit transactions; (g) guarantees made by
the Company on behalf of any third party in respect of obligations of the kind referred to in the foregoing clauses (a) through (g);
and (h) any unpaid interest, prepayment penalties, premiums, costs and fees that would arise or become due as a result of the prepayment
of any of the obligations referred to in the foregoing clauses (a) through (g).

 

“Indemnification
Cap” has the meaning set forth in Section 9.04(b).

 

“Indemnification
Deductible” has the meaning set forth in Section 9.04(b).

 

    	Exhibit A, Page 3
	Stock Purchase Agreement -

     

     

“Indemnified
Party” has the meaning set forth in Section 9.03.

 

“Indemnifying
Party” has the meaning set forth in Section 9.03.

 

“Independent
Accountant” means a reputable accounting firm (which shall be independent of all parties and reasonably acceptable to the other
party).

 

“Initial
Working Capital Injection” has the meaning set forth in Section 2.04.

 

“Insurance
Policies” has the meaning set forth in Section 5.13(a).

 

“Intellectual
Property” has the meaning set forth in Section 5.10(a).

 

“Interim
Balance Sheet” has the meaning set forth in Section 5.05.

 

“Interim
Balance Sheet Date” has the meaning set forth in Section 5.05.

 

“Key
Sellers” means Mark Gundersen, Ugo Conti and Isabella Conti.

 

“Law”
has the meaning set forth in Section 5.04.

 

“Leak-Out
Period” has the meaning set forth in Section 7.04(i).

 

“Liabilities”
has the meaning set forth in Section 5.06.

 

“Losses”
has the meaning set forth in Section 8.04.

 

“Material
Adverse Effect” means any event, occurrence, fact, condition or change that is materially adverse to (a) the business, results
of operations, financial condition or assets of the Company, or (b) the ability of Sellers to consummate the transactions contemplated
hereby; provided, however, that “Material Adverse Effect” shall not include any event, occurrence, fact, condition or change,
directly or indirectly, arising out of or attributable to: (i) general economic or political conditions; (ii) conditions generally affecting
the industries in which the Company operates; (iii) any changes in financial, banking or securities markets in general, including any
disruption thereof and any decline in the price of any security or any market index or any change in prevailing interest rates; (iv)
acts of war (whether or not declared), armed hostilities or terrorism, or the escalation or worsening thereof; (v) any action required
or permitted by this Agreement or any action taken (or omitted to be taken) with the written consent of or at the written request of
Buyer; (vi) any matter of which Buyer is aware on the date hereof; (vii) any changes in applicable Laws or accounting rules (including
GAAP); (viii) the announcement, pendency or completion of the transactions contemplated by this Agreement, including losses or threatened
losses of employees, customers, suppliers, distributors or others having relationships with the Company; (ix) any natural or man-made
disaster or acts of God; (x) any epidemics, pandemics, disease outbreaks, or other public health emergencies; or (xi) any failure by
the Company to meet any internal or published projections, forecasts or revenue or earnings predictions (provided that the underlying
causes of such failures (subject to the other provisions of this definition) shall not be excluded).

 

    	Exhibit A, Page 4
	Stock Purchase Agreement -

     

     

“Material
Customers” has the meaning set forth in Section 5.12(a).

 

“Material
Suppliers” has the meaning set forth in Section 5.12(b).

 

“New
Booking Revenue” has the meaning set forth in Section 2.03(a)(i).

 

“Observer”
has the meaning set forth on Section 3.02(e).

 

“Observer
Agreement” has the meaning set forth on Section 3.02(e).

 

“OPT
Common Stock” has the meaning set forth in Section 2.02(a).

 

“OPT
Shares” has the meaning set forth in Section 2.02(a).

 

“Permits”
has the meaning set forth in Section 5.15(b).

 

“Person”
has the meaning set forth in Section 5.02(b).

 

“Pre-Closing
Tax Period” means any taxable period ending on or before the Closing Date and, with respect to any taxable period beginning
on or before and ending after the Closing Date, the portion of such taxable period ending on and including the Closing Date.

 

“Preferred
Stock” has the meaning set forth in Section 5.02(a).

 

“Purchase
Price” has the meaning set forth in Section 2.02(a).

 

“Real
Property” has the meaning set forth in Section 5.09(a).

 

“Representatives”
has the meaning set forth in Section 7.01.

 

“Restricted
Business” has the meaning set forth in Section 7.03(a).

 

“Restricted
Period” has the meaning set forth in Section 7.03(a).

 

“Rule
144” has the meaning set forth in Section 7.04(b).

 

“SEC”
has the meaning set forth in Section 7.04(b).

 

“Second
Earnout Period” has the meaning set forth in Section 2.03(b)(iii).

 

“Securities
Act” has the meaning set forth in Section 5.03.

 

“Seller”
has the meaning set forth in the Preamble.

 

“Seller
Indemnitees” has the meaning set forth in Section 9.02.

 

    	Exhibit A, Page 5
	Stock Purchase Agreement -

     

     

“Seller
Transaction Expenses” means all fees and expenses incurred by the Company or Seller at or prior to the Closing in connection
with the preparation, negotiation and execution of this Agreement and the other Transaction Documents, and the performance and consummation
of the transactions contemplated hereby and thereby, which shall include, but not be limited to (i) any fees and expenses of the
Company or Seller associated with obtaining necessary or appropriate waivers, consents or approvals of any Governmental Authority or
third parties on behalf of any Seller or the Company prior to Closing, (ii) any fees or expenses of the Company or Seller associated
with obtaining the release and termination of any Encumbrances prior to Closing, (iii) all brokers’ or finders’ fees payable
by any Seller or the Company to the extent relating to this Agreement, the Transaction Documents or any of the transactions contemplated
thereby, (iv) fees, expenses and disbursements of counsel, advisors, consultants, investment bankers, accountants, auditors and experts
to any Seller or the Company and (v) any retention, bonus or similar compensatory amounts payable to any employees or service providers
of the Company that become due and payable by the Company as a result of the consummation of the transactions contemplated hereby or
by any other Transaction Document; provided, however, that the Seller Transaction Expenses shall not include up to $50,000 in Sellers’
legal or other professional service fees to be paid by Buyer.

 

“Shares”
has the meaning set forth in the Recitals.

 

“Specified
Indebtedness” means (a) the outstanding debt owed by the Company to Mark Gundersen as of the Closing Date (the “Gundersen
Debt”) and (b) all outstanding debt owed by the Company to Isabella Conti or Ugo Conti or their revocable trust, including
but not limited to the debt owed by the Company under that certain COVID-19 Economic Injury Disaster Loan received on June 24, 2020 and
repaid by Isabella or Ugo Conti or their revocable trust on November 15, 2021 (collectively, the “Conti Debt”).

 

“Straddle
Period” has the meaning set forth in Section 8.01(a).

 

“Taxes”
has the meaning set forth in Section 5.19(a).

 

“Tax
Records” has the meaning set forth in Section 8.05.

 

“Tax
Returns” has the meaning set forth in Section 5.19(a).

 

“Territory”
has the meaning set forth in Section 7.03(a).

 

“Trading
Day” means any day on which the OPT Common Stock is purchased and sold on the principal market on which the OPT Common Stock
is listed or quoted.

 

“Transaction
Documents” means this Agreement and the other agreements, instruments, and documents required to be delivered in connection
with this Agreement or at the Closing.

 

“Undisputed
Amount” has the meaning set forth in Section 2.03(c).

 

“Union”
has the meaning set forth in Section 5.18(b).

 

“WARN
Act” has the meaning set forth in Section 5.18(f).

 

“Working
Capital Injections” has the meaning set forth in Section 2.04.

 

    	Exhibit A, Page 6
	Stock Purchase Agreement -

     

     

EXHIBIT
B

 

EXISTING
BOOKINGS

 

 

    	Exhibit B, Page 1
	Stock Purchase Agreement -

     

     

SCHEDULE
A

 

SELLERS

 

	Stockholder Name	 	Common Stock	 	 	Series A Preferred Stock	 	 	Series B Preferred Stock	 	 	SAFE Converted Common Stock*	 	 	Total Shares	 
	The Isabella Conti and Ugo Conti Living Trust	 	 	2,500,000	 	 	 	250,000	 	 	 	156,250	 	 	 	116,111	 	 	 	3,022,361	 
	Masazumi Ishii	 	 	50,000	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	50,000	 
	Mark Travis Gundersen	 	 	1,533,332	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	1,533,332	 
	Pacific Premier Trust, Custodian FBO Mark Gundersen IRA	 	 	 	 	 	 	 	 	 	 	 	 	 	 	79,167	 	 	 	79,167	 
	Sundance Trust U/A/D 1/17/02	 	 	 	 	 	 	250,000	 	 	 	156,250	 	 	 	105,556	 	 	 	511,806	 
	Pierluigi Zappacosta	 	 	 	 	 	 	250,000	 	 	 	156,250	 	 	 	 	 	 	 	406,250	 
	Aart J. de Geus Separate Property Trust U/A/D 09/08/99	 	 	 	 	 	 	 	 	 	 	281,250	 	 	 	105,556	 	 	 	386,806	 
	Attilio Angelini	 	 	 	 	 	 	 	 	 	 	125,000	 	 	 	 	 	 	 	125,000	 
	John M. Boylston, Trustee of The Deborah A. Coleman Trust, dated April 26, 2006	 	 	 	 	 	 	 	 	 	 	281,250	 	 	 	 	 	 	 	281,250	 
	The Ezio Valdevit Revocable Trust	 	 	 	 	 	 	 	 	 	 	343,750	 	 	 	52,778	 	 	 	396,528	 
	The Jones-Wagner Family LLC	 	 	 	 	 	 	 	 	 	 	 	 	 	 	52,778	 	 	 	52,778	 
	TOTAL	 	 	4,083,332	 	 	 	750,000	 	 	 	1,500,000	 	 	 	511,946	 	 	 	6,845,278	 

 

*
The SAFE converted common shares are uncertificated.

 

    	Schedule A, Page 1
	Stock Purchase Agreement - OPTExhibit 4.1

 

STOCKHOLDERS’ AGREEMENT

 

DATED AS OF [    ], 2021

 

BY AND BETWEEN

 

RHODIUM ENTERPRISES, INC.

 

AND

 

IMPERIUM INVESTMENT HOLDINGS LLC

 

    

     

    

 

STOCKHOLDERS’ AGREEMENT

 

This Stockholders’ Agreement
(the “Agreement”) is entered into as of [ ], 2021 by and between Rhodium Enterprises, Inc., a Delaware corporation
(the “Company”) and Imperium Investment Holdings LLC, a Wyoming limited liability company (“Imperium”).

 

RECITALS:

 

WHEREAS, the Company is currently
contemplating an underwritten initial public offering (“IPO”) of shares of its Class A Common Stock (as defined below);
and

 

WHEREAS, in connection with
the IPO, the Company and Imperium wish to set forth certain understandings between such parties, including with respect to certain governance
matters.

 

NOW, THEREFORE, the parties
agree as follows:

 

Article
I 

INTRODUCTORY MATTERS

 

Section 1.1
Defined Terms. In addition to the terms defined elsewhere herein, the following terms have the following meanings when
used herein with initial capital letters:

 

“Affiliate”
has the meaning set forth in Rule 12b-2 promulgated under the Exchange Act, as in effect on the date hereof.

 

“Agreement”
means this Stockholders’ Agreement, as the same may be amended, supplemented, restated or otherwise modified from time to time in
accordance with the terms hereof.

 

“Beneficially Own”
has the meaning set forth in Rule 13d-3 promulgated under the Exchange Act.

 

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

 

“Class A Common Stock”
means the shares of Class A common stock, par value $0.0001 per share, of the Company, and any other capital stock of the Company into
which such stock is reclassified or reconstituted.

 

“Class B Common Stock”
means the shares of Class B common stock, par value $0.0001 per share, of the Company, and any other capital stock of the Company into
which such stock is reclassified or reconstituted.

 

“Closing Date”
means the date of the closing of the IPO.

 

“Common Stock”
means collectively the Class A Common Stock and the Class B Common Stock.

 

“Company”
has the meaning set forth in the Preamble.

 

    2

     

    

 

“Confidential Information”
has the meaning set forth in Section 3.3.

 

“Control”
(including its correlative meanings, “Controlled by” and “under common Control with”) means possession,
directly or indirectly, of the power to direct or cause the direction of management or policies (whether through ownership of securities
or partnership or other ownership interests, by contract or otherwise) of a Person.

 

“Director”
means any director of the Company.

 

“Exchange Act”
means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder, as the same may be amended
from time to time.

 

“Governmental Authority”
means any nation or government, any state or other political subdivision thereof, and any entity exercising executive, legislative, judicial,
regulatory or administrative functions of or pertaining to government.

 

“Imperium”
has the meaning set forth in the Preamble.

 

“Imperium Designee”
has the meaning set forth in Section 2.1(b).

 

“Imperium Entities”
means Imperium and its Affiliates and their respective successors and Permitted Assigns.

 

“IPO” has
the meaning set forth in the Recitals.

 

“Law” means
any statute, law, regulation, ordinance, rule, injunction, order, decree, governmental approval, directive, requirement, or other governmental
restriction or any similar form of decision of, or determination by, or any interpretation or administration of any of the foregoing by,
any Governmental Authority.

 

“LLC Units”
means the Units representing membership interests in RTL and any other class of units or interests that is established in RTL.

 

“Outstanding Rhodium
Interests” means the outstanding shares of Common Stock.

 

“Person”
means an individual, a partnership, a corporation, a limited liability company, an association, a joint stock company, a trust, a joint
venture, an unincorporated organization, or other form of business organization, whether or not regarded as a legal entity under applicable
Law, or any Governmental Authority or any department, agency or political subdivision thereof.

 

“Permitted Assigns”
means, with respect to Imperium, a Transferee of shares of Common Stock or a Transferee (as defined in the RTL LLC Agreement) that agrees
to become party to, and to be bound to the same extent as its Transferor by the terms of, this Agreement.

 

“RTL” means
Rhodium Technologies LLC, a Delaware limited liability company.

 

    3

     

    

 

“RTL LLC Agreement”
means the Second Amended and Restated Limited Liability Agreement of RTL, dated on or about the date hereof, as such agreement may be
amended from time to time.

 

“SEC” means
the U.S. Securities and Exchange Commission.

 

“Subsidiary”
means, with respect to any Person, any corporation, limited liability company, partnership, association or other business entity of which:
(i) if a corporation, a majority of the total voting power of shares of stock entitled (without regard to the occurrence of any contingency)
to vote in the election of directors, representatives or trustees thereof is at the time owned or Controlled, directly or indirectly,
by that Person or one or more of the other Subsidiaries of that Person or a combination thereof; or (ii) if a limited liability company,
partnership, association or other business entity, a majority of the total voting power of stock (or equivalent ownership interest) of
the limited liability company, partnership, association or other business entity is at the time owned or Controlled, directly or indirectly,
by that Person or one or more Subsidiaries of that Person or a combination thereof. For purposes hereof, a Person or Persons shall be
deemed to have a majority ownership interest in a limited liability company, partnership, association or other business entity if such
Person or Persons shall be allocated a majority of limited liability company, partnership, association or other business entity gains
or losses or shall be or Control the managing member, managing director or other governing body or general partner of such limited liability
company, partnership, association or other business entity.

 

“Total Number of
Directors” means the total number of directors comprising the Board.

 

“Transfer”
(including its correlative meanings, “Transferor,” “Transferee” and “Transferred”)
shall mean, with respect to any security, directly or indirectly, to sell, contract to sell, give, assign, hypothecate, pledge, encumber,
grant a security interest in, offer, sell any option or contract to purchase, purchase any option or contract to sell, grant any option,
right or warrant to purchase, lend or otherwise transfer or dispose of any economic, voting or other rights in or to such security. When
used as a noun, “Transfer” shall have such correlative meaning as the context may require.

 

Section 1.2
Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to express
their mutual intent, and no rule of strict construction will be applied against any party. Unless the context otherwise requires: (a)
“or” is disjunctive but not exclusive, (b) words in the singular include the plural, and in the plural include the singular,
and (c) the words “hereof,” “herein,” and “hereunder” and words of similar import when used in this
Agreement refer to this Agreement as a whole and not to any particular provision of this Agreement, and section references are to this
Agreement unless otherwise specified.

 

Article
II 

CORPORATE GOVERNANCE MATTERS

 

Section 2.1
Election of Directors.

 

(a)  Following
the Closing Date, Imperium shall have the right (but not the obligation) pursuant to this Agreement to designate or nominate to the
Board, a number of designees equal to at least (i) a majority of the Total Number of Directors, for so long as the Imperium Entities
collectively beneficially own, directly or indirectly, 50% or more of the voting power of all shares of the Company’s capital
stock entitled to vote generally in the election of directors (which shall be five (5) Directors with the initial Board size of
eight (8) Directors at IPO); (ii) 40% of the Total Number of Directors, for so long as the Imperium Entities collectively
beneficially own, directly or indirectly, 40% or more, but less than 50%, of the voting power of all shares of the Company’s
capital stock entitled to vote generally in the election of directors (which shall be three (3) Directors with the initial Board
size of eight (8) Directors at IPO); (iii) 30% of the Total Number of Directors, for so long as the Imperium Entities collectively
beneficially own, directly or indirectly, 30% or more, but less than 40%, of the voting power of all shares of the Company’s
capital stock entitled to vote generally in the election of directors (which shall be three (3) Directors with the initial Board
size of eight (8) Directors at IPO); (iv) 25% of the Total Number of Directors, for so long as the Imperium Entities collectively
beneficially own, directly or indirectly, 20% or more, but less than 30%, of the voting power of all shares of the Company’s
capital stock entitled to vote generally in the election of directors (which shall be two (2) Directors with the initial Board size
of eight (8) Directors at IPO); and (v) 10% of the Total Number of Directors, for so long as the Imperium Entities collectively
beneficially own, directly or indirectly, 5% or more, but less than 20%, of the voting power of all shares of the Company’s
capital stock entitled to vote generally in the election of directors (which shall be one (1) Director with the initial Board size
of eight (8) Directors at IPO).

 

    4

     

    

 

(b)
If at any time Imperium has designated fewer than the total number of individuals that Imperium is then entitled to designate pursuant
to Section 2.1(a) hereof, Imperium shall have the right to designate such additional individuals which it is entitled to so designate,
in which case, any individuals nominated by or at the direction of the Board or any duly-authorized committee thereof for election as
Directors to fill any vacancy on the Board shall include such designees, and the Company shall use its best efforts to (x) effect the
appointment or election of such additional designees, whether by increasing the size of the Board or otherwise, and (y) cause the appointment
or election of such additional designees to fill any such newly-created vacancies or to fill any other existing vacancies. Each such individual
whom Imperium shall actually designate pursuant to this Section 2.1 and who is thereafter elected and qualifies to serve as a Director
shall be referred to herein as an “Imperium Designee.”

 

(c)
The Company and Imperium shall, to the fullest extent permitted by law, take all actions to cause the Board to include the Chief
Executive Officer of the Company.

 

(d)
So long as Imperium is entitled to designate one or more designees pursuant to Section 2.01(a), Imperium shall have the right to
request the removal of any Imperium Designee (with or without cause) nominated by Imperium, from time to time and at any time, from the
Board, exercisable upon written notice to the Company, and the Company shall take all necessary action to cause such removal.

 

(e) In the
event that a vacancy is created or exists at any time by the death, disability, retirement or resignation of any Imperium Designee
or as a result of Imperium not yet designating a person to fill such vacancy or Board seat, any individual nominated by or at the
direction of the Board or any duly-authorized committee thereof to fill such vacancy shall be, and the Company shall use its best
efforts to cause such vacancy to be filled, as soon as possible, by a new designee of Imperium, and the Company shall take, to the
fullest extent permitted by law, at any time and from time to time, all actions necessary to accomplish the same, including by
taking Board action to appoint such Imperium Designee to the Board to fill such vacancy.

 

(f)  The
Company shall, to the fullest extent permitted by law, include in the slate of nominees recommended by the Board at any meeting of
stockholders called for the purpose of electing directors, the persons designated pursuant to this Section 2.1 and use its
best efforts to cause the election of each such designee to the Board, including nominating each such individual to be elected as a
Director as provided herein, recommending such individual’s election and soliciting proxies or consents in favor thereof.

 

(g)
In addition to any vote or consent of the Board or the stockholders of the Company required by applicable Law or the charter or
bylaws of the Company, and notwithstanding anything to the contrary in this Agreement, for so long as this Agreement is in effect, any
action by the Board to increase or decrease the Total Number of Directors (other than any increase in the Total Number of Directors in
connection with the election of one or more directors elected exclusively by the holders of one or more classes or series of the Company’s
stock other than Common Stock) shall require the prior written consent of Imperium, delivered in accordance with Section 4.13 hereof
and any increase in the Total Number of Directors shall result in a corresponding increase in the number of Imperium Designees Imperium
are entitled to designate, appoint, elect or otherwise place on the Board pursuant to Section 2.01(a) hereof as is necessary to
maintain the appropriate percentage representation on the Board by the Imperium Designees.

 

Article
III 

INFORMATION

 

Section 3.1
Books and Records; Access. The Company shall, and shall cause its Subsidiaries to, permit the Imperium Entities and
their respective designated representatives, at reasonable times and upon reasonable prior notice to the Company, to review the books
and records of the Company or any of such Subsidiaries and to discuss the affairs, finances and condition of the Company or any of such
Subsidiaries with the officers of the Company or any such Subsidiary; provided, however, that the Company shall not be required to disclose
any privileged information of the Company so long as the Company has used commercially reasonable efforts to enter into an arrangement
pursuant to which it may provide such information to the Imperium Entities without the loss of any such privilege.

 

    5

     

    

 

Section 3.2
Certain Reports. The Company shall deliver or cause to be delivered to the Imperium Entities, at their request:

 

(a) Unless
waived by Imperium, as soon as available, but not later than thirty (30) days after the end of each calendar month the Company will
provide the Imperium Entities a monthly report that will include the following information: (i) a monthly and year-to-date operating
report with a comparison to the comparable periods’ budget, (ii) a monthly and year-to-date summary unaudited balance sheet
and the related statements of income, equity and cash flows of the Company and its consolidated Subsidiaries for such periods with a
comparison to the comparable periods’ budget, (iii) a summary description of the business activities that took place during
such period along with the operating and financial performance of the Company for such monthly period and the year to date,
including an explanation of any material discrepancies or variances from the comparable periods’ budgets referenced in clause
(ii) and (iv) such other information as the Imperium Entities shall reasonably request; provided, that any
information requested pursuant to the foregoing clause (iv) shall be provided as soon as available, but not later than the later of
(x) fifteen (15) days from the date of such request or (y) thirty (30) days after the end of such calendar month to which the
requested information pertains;

 

(b)
As soon as available, but not later than sixty (60) days after the end of each calendar quarter (excluding each calendar quarter
ending December 31), the Company will provide the Imperium Entities with the Company’s consolidated unaudited balance sheet and
the related unaudited statements of income, equity and cash flows as of the end of such immediately preceding calendar quarter, in each
case, prepared in accordance with GAAP;

 

(c)
As soon as available, but not later than 105 days after the end of each fiscal year, the Company will provide the Imperium Entities
with the Company’s audited consolidated balance sheet and the related audited consolidated statements of income, equity and cash
flows for such fiscal year, such annual financial reports to include notes and to be in reasonable detail, prepared in accordance with
GAAP, and accompanied by an opinion of an independent public accountant of nationally recognized standing; and

 

(d)
Notwithstanding the foregoing, the Company will be deemed to have delivered such information referred to in this Section 3.2
to the Imperium Entities for all purposes of this Agreement if the Company has filed reports containing such information with the SEC
via the EDGAR filing system (or any successor system) and such reports are publicly available. In addition, the requirements of this Section
3.2 shall be deemed satisfied and the Company will be deemed to have delivered such information referred to this Section 3.2
to the Imperium Entities for all purposes of this Agreement by the posting of reports that would be required to be provided on the Company’s
website. The Imperium Entities shall have no obligation to monitor whether the Company posts such reports, information and documents on
its website or the SEC’s EDGAR service, or collect any such information from the Company’s website or the SEC’s EDGAR
service. Further, that, the Imperium Entities may request that the Company not provide any of the information required pursuant to clauses
(a), (b) and (c) of this Section 3.2 if such information is reasonably expected to contain any material non-public
information (within the meaning of U.S. federal securities laws).

 

    6

     

    

 

Section 3.3 Disclosure
of Information. The Imperium Entities acknowledge that they shall receive information from or regarding the Company and its
Subsidiaries in the nature of trade secrets or that otherwise is confidential information or proprietary information (as further
defined below, “Confidential Information”), the release of which would be damaging to the Company or Persons with which
the Company conducts business. Each Imperium Entity shall hold in strict confidence any Confidential Information that such recipient
receives pursuant to this Agreement, and each Imperium Entity shall not disclose such Confidential Information to any Person
(including any Affiliates) other than another Imperium Entity or a Director or officer of the Company, or otherwise use such
information for any purpose other than to evaluate, analyze, and keep apprised of the Company’s and its Subsidiaries’
assets and their interest therein and for the internal use thereof by an Imperium Entity or its Affiliates, except for disclosures
(i) to comply with any Laws (including applicable stock exchange or quotation system requirements), provided, that an Imperium
Entity must notify the Company promptly of any disclosure of Confidential Information which is required by Law, and any such
disclosure of Confidential Information shall be to the minimum extent required by Law, (ii) to Affiliates, partners, members,
stockholders, investors, directors, officers, employees, agents, attorneys, consultants, lenders, professional advisers or
representatives of the Imperium Entity or its Affiliates (provided, that such Imperium Entity shall be responsible for assuring such
partners’, members’, stockholders’, investors’, directors’, officers’, employees’,
agents’, attorneys’, consultants’, lenders’, professional advisers’ and representatives’
compliance with the terms hereof, except to the extent any such Person who is not a partner, member, stockholder, director, officer
or employee has agreed in writing addressed to the Company to be bound by customary undertakings with respect to confidential and
proprietary information similar to this Section 3.3), or to Persons to which that Imperium Entity’s holdings of capital stock
of the Company is proposed to be transferred, but only if the recipients of such information have agreed to be bound by customary
confidentiality undertakings similar to this Section 3.3, (iii) of information that an Imperium Entity also has received from a
source independent of the Company and that such Imperium Entity reasonably believes such source obtained without breach of any
obligation of confidentiality to the Company, (iv) of information obtained prior to the formation of Rhodium Technologies LLC and
its subsidiaries, provided, that this clause (iv) shall not relieve any Imperium Entity or any of its Affiliates from
any obligations it may have to any other Imperium Entity or any of its Affiliates under any existing confidentiality agreement, (v)
that have been or become independently developed by an Imperium Entity or its Affiliates or on their behalf without using any of the
Confidential Information, (vi) that are or become generally available to the public (other than as a result of a prohibited
disclosure by such Imperium Entity or its representatives), (vii) in connection with any proposed transfer of all or part of an
Imperium Entity’s holdings of capital stock of the Company or the proposed sale of all or substantially all of an Imperium
Entity or its direct or indirect parent, to (A) advisers or representatives of the Imperium Entity, (B) its direct or indirect
parent or (C) Persons to which such interests may be transferred, but only if the recipients of such information have agreed to be
bound by customary undertakings with respect to confidential and proprietary information similar to this Section 3.3 or
(viii) to the extent the Company shall have consented to such disclosure in writing. The term “Confidential Information”
shall include any information pertaining to the Company’s or any of its Subsidiaries’ business which is not available to
the public, whether written, oral, electronic, visual form or in any other media, including, without limitation, such information
that is proprietary, confidential or concerning the Company’s (or any of its Subsidiaries’) ownership and operation of
their respective assets or related matters, including any actual or proposed operations or development project or strategies, other
operations and business plans, actual or projected revenues and expenses, finances, contracts and books and records. Notwithstanding
the foregoing, the Imperium Entities and their Affiliates may make disclosures to their respective direct and indirect limited
partners and members such information (including Confidential Information) as is customarily provided to such persons. Each Imperium
Entity acknowledges that Confidential Information furnished to it pursuant to this Agreement may include material nonpublic
information concerning the Company and its related parties or their respective securities and hereby confirms that it is familiar
with the Exchange Act and the rules and regulations promulgated thereunder.

 

    7

     

    

 

Article
IV 

GENERAL PROVISIONS

 

Section 4.1
Termination. This Agreement shall terminate on the earlier to occur of (i) such time as Imperium is no longer entitled
to designate a Director pursuant to Section 2.1(a) hereof and (ii) the delivery of a written notice by Imperium to the Company requesting
that this Agreement terminate.

 

Section 4.2
Notices. Any notice, designation, request, request for consent or consent provided for in this Agreement shall be in
writing and shall be either personally delivered, or mailed first class mail (postage prepaid) or sent by reputable overnight courier
service (charges prepaid) to the Company at the address set forth below and to any other recipient at the address indicated on the Company’s
records, or at such address or to the attention of such other Person as the recipient party has specified by prior written notice to the
sending party. Notices and other such documents will be deemed to have been given or made hereunder when sent by facsimile (receipt confirmed)
delivered personally, five (5) days after deposit in the U.S. mail and one (1) day after deposit with a reputable overnight courier service.

 

(a)
If to the Company, to:

 

Rhodium Enterprises, Inc.

Attention: Nathan Nichols, Chief Executive
Officer

Email: [ ]

 

with a copy (not constituting notice) to
:

 

Kirkland & Ellis LLP

609 Main Street Houston, Texas 77002

Attention: Matthew R. Pacey and Anne G.
Peetz

Fax: (713) 835-3601

 

(b)
If to the Imperium Entities, to:

 

with a copy (not constituting notice) to:

 

Kirkland & Ellis LLP

609 Main Street

Houston, Texas 77002

Attention: Matthew R. Pacey and Anne G.
Peetz

Fax: (713) 835-3601

 

Section 4.3 Amendment;
Waiver. This Agreement may be amended, supplemented or otherwise modified only by a written instrument executed by the
Company and the other parties hereto. Neither the failure nor delay on the part of any party hereto to exercise any right, remedy,
power or privilege under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any right,
remedy, power or privilege preclude any other or further exercise of the same or of any other right, remedy, power or privilege, nor
shall any waiver of any right, remedy, power or privilege with respect to any occurrence be construed as a waiver of such right,
remedy, power or privilege with respect to any other occurrence. No waiver shall be effective unless it is in writing and is signed
by the party asserted to have granted such waiver.

 

    8

     

    

 

Section 4.4
Further Assurances. The parties hereto will sign such further documents, cause such meetings to be held, resolutions
passed, exercise their votes and do and perform and cause to be done such further acts and things necessary, proper or advisable in order
to give full effect to this Agreement and every provision hereof. To the fullest extent permitted by law, the Company shall not directly
or indirectly take any action that is intended to, or would reasonably be expected to result in, Imperium or any Imperium Entity being
deprived of the rights contemplated by this Agreement.

 

Section 4.5
Assignment. This Agreement will inure to the benefit of and be binding on the parties hereto and their respective successors
and permitted assigns. This Agreement may not be assigned without the express prior written consent of the other parties hereto, and any
attempted assignment, without such consents, will be null and void; provided, however, that, without the prior written consent
of the Company, Imperium may assign this Agreement, in whole or in part, to any of its Permitted Assigns.

 

Section 4.6
Third Parties. Except as provided for in Article II and Section 3.1 hereof with respect to any Imperium Entity, this
Agreement does not create any rights, claims or benefits inuring to any person that is not a party hereto nor create or establish any
third party beneficiary hereto.

 

Section 4.7
Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware,
without regard to principles of conflicts of laws thereof.

 

Section 4.8
Jurisdiction; Waiver of Jury Trial. In any judicial proceeding involving any dispute, controversy or claim arising out
of or relating to this Agreement, each of the parties unconditionally accepts the jurisdiction and venue of the courts of the State of
Delaware or if jurisdiction over the matter is vested exclusively in federal courts, the United States District Court for the District
of Delaware, and the appellate courts to which orders and judgments thereof may be appealed. In any such judicial proceeding, the parties
agree that in addition to any method for the service of process permitted or required by such courts, to the fullest extent permitted
by law, service of process may be made by delivery provided pursuant to the directions in Section 4.2 hereof. EACH OF THE PARTIES HEREBY
WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW TRIAL BY JURY IN ANY JUDICIAL PROCEEDING INVOLVING ANY DISPUTE, CONTROVERSY OR
CLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT.

 

Section 4.9 Specific
Performance. Each party hereto acknowledges and agrees that in the event of any breach of this Agreement by any of them, the
other parties hereto would be irreparably harmed and could not be made whole by monetary damages. Each party accordingly agrees to
waive the defense in any action for specific performance that a remedy at law would be adequate and agrees that the parties, in
addition to any other remedy to which they may be entitled at law or in equity, shall be entitled to specific performance of this
Agreement without the posting of bond.

 

Section 4.10
Entire Agreement. This Agreement sets forth the entire understanding of the parties hereto with respect to the subject
matter hereof. There are no agreements, representations, warranties, covenants or understandings with respect to the subject matter hereof
or thereof other than those expressly set forth herein and therein. This Agreement supersedes all other prior agreements and understandings
between the parties with respect to such subject matter.

 

    9

     

    

 

Section 4.11
Severability. If any provision of this Agreement, or the application of such provision to any Person or circumstance
or in any jurisdiction, shall be held to be invalid or unenforceable to any extent, (i) the remainder of this Agreement shall not be affected
thereby, and each other provision hereof shall be valid and enforceable to the fullest extent permitted by law, (ii) as to such Person
or circumstance or in such jurisdiction such provision shall be reformed to be valid and enforceable to the fullest extent permitted by
law, and (iii) the application of such provision to other Persons or circumstances or in other jurisdictions shall not be affected thereby.

 

Section 4.12
Table of Contents, Headings and Captions. The table of contents, headings, subheadings and captions contained in this
Agreement are included for convenience of reference only, and in no way define, limit or describe the scope of this Agreement or the intent
of any provision hereof.

 

Section 4.13
Grant of Consent. Any vote, consent or approval of, or designation by, or other action of, Imperium hereunder shall
be effective if notice of such vote, consent, approval, designation or action is provided in accordance with Section 4.2 hereof by Imperium
as of the latest date any such notice is so provided.

 

Section 4.14
Counterparts. This Agreement and any amendment hereto may be signed in any number of separate counterparts, each of
which shall be deemed an original, but all of which taken together shall constitute one Agreement (or amendment, as applicable).

 

Section 4.15
Effectiveness. This Agreement shall become effective upon the Closing Date.

 

Section 4.16
No Recourse. This Agreement may only be enforced against, and any claims or cause of action that may be based upon,
arise out of or relate to this Agreement, or the negotiation, execution or performance of this Agreement may only be made against the
entities that are expressly identified as parties hereto and no past, present or future Affiliate, director, officer, employee, incorporator,
member, manager, partner, stockholder, agent, attorney or representative of any party hereto shall have any liability for any obligations
or liabilities of the parties to this Agreement or for any claim based on, in respect of, or by reason of, the transactions contemplated
hereby.

 

[Remainder of Page Intentionally Left Blank]

 

    10

     

    

 

IN WITNESS WHEREOF, the parties
hereto have executed this Agreement on the day and year first above written.

 

	 	RHODIUM ENTERPRISES, INC.
	 	 	 
	 	By:	                 
	 	Name: 	 
	 	Title: 	 
	 	 	 
	 	IMPERIUM INVESTMENT HOLDINGS LLC
	 	 	 
	 	By:	 
	 	Name: 	 
	 	Title: 	 

 

Signature Page to Rhodium Enterprises, Inc.
Stockholders’ Agreement

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