Document:

EX-10.2

 Exhibit 10.2 

FORM OF PARENT SUPPORT AGREEMENT 

THIS SUPPORT AGREEMENT (this “Agreement”), dated as of September [•], 2022, is entered into by and among EnVen Energy
Corporation, a Delaware corporation (the “Company”), Talos Energy Inc., a Delaware corporation (“Parent”) and each stockholder of Parent set forth on Schedule 1 attached hereto (each, a
“Stockholder” and collectively, the “Stockholders”). Capitalized terms used but not otherwise defined in this Agreement shall have the meanings ascribed to them in the Merger Agreement (as defined below). 

RECITALS 
 WHEREAS, the
Company, Parent, Talos Production Inc., a Delaware corporation and an indirect wholly-owned subsidiary of Parent (“Production Company”), Tide Merger Sub I Inc., a Delaware corporation and a direct wholly-owned subsidiary of Parent
(“Merger Sub I”), Tide Merger Sub II LLC, a Delaware limited liability company and a direct wholly-owned subsidiary of Parent, Tide Merger Sub III LLC, a Delaware limited liability company and a direct wholly-owned subsidiary of
Production Company, and the Equityholders’ Representative (as defined in the Merger Agreement), have entered into an Agreement and Plan of Merger (as amended, supplemented, restated or otherwise modified from time to time, the “Merger
Agreement”), pursuant to which (and subject to the terms and conditions set forth therein), among other things, Merger Sub I will merge with and into the Company, with the Company surviving such merger (the “First Merger,”
and together with the other transactions contemplated by the Merger Agreement, the “Transactions”); 
 WHEREAS, as of the
date hereof, each Stockholder is the record and “beneficial owner” (within the meaning of Rule 13d-3 under the Exchange Act) of and is entitled to dispose of and vote the number of shares of Parent
Common Stock set forth opposite such Stockholder’s name on Schedule 1 attached hereto (as applicable to such Stockholder, the “Owned Shares”; the Owned Shares and any additional shares of Parent Common
Stock (or any securities convertible into or exercisable or exchangeable for shares of Parent Common Stock) in which the Stockholder acquires record and beneficial ownership after the date hereof, including by purchase, as a result of a stock
dividend, stock split, recapitalization, combination, reclassification, exchange or change of such shares, or upon exercise or conversion of any securities, and as applicable to such Stockholder, the “Covered Shares”); and 

WHEREAS, concurrently with the execution of the Merger Agreement, the Stockholders are entering into this Agreement. 

AGREEMENT 
 NOW,
THEREFORE, in consideration of the foregoing and the mutual covenants and agreements herein contained, and intending to be legally bound hereby, the Company, Parent and the Stockholders hereby agree as follows: 

1. Agreement to Vote. Prior to the Termination Date (as defined herein), each Stockholder, solely in its capacity as a stockholder of
Parent, irrevocably and unconditionally agrees that, at any meeting of the stockholders of the Company (whether annual or special and whether or not an adjourned or postponed meeting, however called and including any adjournment or postponement
thereof, and, for avoidance of doubt, including the Special Meeting) and in connection with any written consent of the stockholders of Parent, the Stockholder shall, and shall cause any other holder of record of any of the Stockholder’s Covered
Shares to: 

 (a) appear at such meeting or otherwise cause the Stockholder’s Covered
Shares to be counted as present thereat for the purpose of establishing a quorum; 
 (b) vote (or execute and return an
action by written consent), or cause to be voted at such meeting in person or by proxy (or validly execute and return and cause such consent to be granted with respect to), all of the Stockholder’s Covered Shares owned as of the record date for
such meeting (or the date that any written consent is executed by the Stockholder) in favor of (i) approving the issuance of Parent Common Stock to the holders of Class A Common Shares of the Company pursuant to the NYSE listing rules,
(ii) approving the amendment and/or restatement of the Parent Organizational Documents as necessary or appropriate to reflect the Stockholders’ Agreement Termination (as defined below) and (iii) any other proposals agreed to by Parent
and the Company which are necessary or appropriate in connection with the Transactions or to effectuate the intent of the foregoing clauses (i) and (ii); and 

(c) vote (or execute and return an action by written consent), or cause to be voted at such meeting in person or by proxy (or
validly execute and return and cause such consent to be granted with respect to), all of the Stockholder’s Covered Shares against (i) any Acquisition Proposal with respect to Parent and (ii) any other action, proposal, transaction or
agreement that could reasonably be expected to (A) materially impede, interfere with, delay, postpone or materially and adversely affect the First Merger or any of the other Transaction, (B) result in a material breach of any covenant,
representation or warranty or other obligation or agreement of Parent under the Merger Agreement, or (C) result in a material breach of any covenant, representation or warranty or other obligation or agreement of the Stockholder contained in
this Agreement. 
 The obligations of each Stockholder specified in this Section 1 shall apply whether or not the
First Merger or any action described above is recommended by the Parent Board or the Parent Board has effected a Parent Change in Recommendation. 

2. No Inconsistent Agreements. Each Stockholder hereby covenants and agrees that the Stockholder shall not, at any time prior to the
Termination Date, (i) enter into any voting agreement or voting trust with respect to any of the Stockholder’s Covered Shares that is materially inconsistent with the Stockholder’s obligations pursuant to this Agreement,
(ii) grant a proxy or power of attorney with respect to any of the Stockholder’s Covered Shares that is materially inconsistent with the Stockholder’s obligations pursuant to this Agreement, or (iii) enter into any agreement or
undertaking that is otherwise materially inconsistent with, or would interfere with, or prohibit or prevent it from satisfying, its obligations pursuant to this Agreement. 

  
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 3. Termination. This Agreement shall terminate immediately and automatically, and be
of no further force and effect, without any notice or other action by any Person, upon the earliest of (i) the First Effective Time, (ii) the termination of the Merger Agreement in accordance with its terms, (iii) any amendment to the
Merger Agreement that materially reduces the economic benefits to any Stockholder contemplated thereby as of the date hereof and (iv) the time this Agreement is terminated upon the mutual written agreement of each of the parties hereto (the
earliest such date under clause (i), (ii), (iii) and (iv) being referred to herein as the “Termination Date”); provided, that the provisions set forth in Sections 15 to 21 shall survive the
termination of this Agreement; provided further, that if the First Effective Time occurs on or prior to the Termination Date, the provisions set forth in Sections 7(c) and 10 shall survive the termination of
this Agreement pursuant to clause (i) and, in the case of Section 7(c), shall continue in effect until expiry of the Lock-up Period; and provided further, that termination
of this Agreement shall not relieve any party hereto from any liability for any Willful Breach of this Agreement prior to such termination. 

4. Representations and Warranties of the Stockholders. Each Stockholder hereby represents and warrants to Parent and the Company as to
itself as follows: 
 (a) The Stockholder is the only record and “beneficial owner” (within the meaning of Rule 13d-3 under the Exchange Act) of, and has good, valid and marketable title to, the Covered Shares, free and clear of Liens other than Liens as created by this Agreement, Liens to which the Covered Shares and
Stockholder are subject pursuant to the Parent Organizational Documents and Liens to which the Covered Shares and Stockholder are subject pursuant to the Stockholders’ Agreement. As of the date hereof, other than the Owned Shares, the
Stockholder does not own beneficially or of record any shares of capital stock of Parent (or any securities exercisable for or convertible into shares of capital stock of Parent) or any interest therein. 

(b) The Stockholder is not a “foreign person” or “foreign entity” (as defined in Section 721 of the
Defense Production Act of 1950, as amended, including all implementing regulations thereof). The Stockholder is not controlled, in whole or in part, by a “foreign person” (as defined in Section 721 of the Defense Production Act of
1950, as amended, including all implementing regulations thereof). 
 (c) The Stockholder (i) except as provided in this
Agreement, has full voting power, full power of disposition and full power to issue instructions with respect to the matters set forth herein, in each case, with respect to the Stockholder’s Covered Shares, (ii) has not entered into any
voting agreement, voting trust or other similar agreement, arrangement or restriction with respect to any of the Stockholder’s Covered Shares other than this Agreement, (iii) has not granted a proxy or power of attorney with respect to any
of the Stockholder’s Covered Shares that is inconsistent with the Stockholder’s obligations pursuant to this Agreement, (iv) other than the Parent Organizational Documents, is not party to any agreements or arrangements of any kind,
contingent or otherwise, obligating the Stockholder to sell, transfer, pledge, encumber, assign, hedge, swap, convert or otherwise dispose of (including by merger (including by conversion into securities or other consideration), by tendering into
any tender or exchange offer, by testamentary disposition, by operation of Law or otherwise), either voluntarily or involuntarily (collectively, “Transfer”), any or all of the Stockholder’s Covered Shares or any interest
therein, and (v) has not entered into any agreement or undertaking that is otherwise inconsistent with, or would reasonably be expected to interfere with, or prohibit or prevent it from satisfying, its obligations pursuant to this Agreement.
Except as contemplated by the Transactions or as set forth in the Parent Organizational Documents, no Person has any contractual or other right or obligation to purchase or otherwise acquire any of the Stockholder’s Covered Shares. 

  
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 (d) The Stockholder (i) is a legal entity duly organized, validly
existing and, to the extent such concept is applicable, in good standing under the Applicable Laws of the jurisdiction of its organization, and (ii) has all requisite corporate or other power and authority and has taken all corporate or other
action necessary in order to, execute, deliver and perform its obligations under this Agreement and to consummate the transactions contemplated hereby and no other organizational proceedings on the part of the Stockholder are necessary to approve
this Agreement and to perform its obligations hereunder. This Agreement has been duly authorized, executed and delivered by the Stockholder and, assuming the Agreement is the valid and legally binding agreement of each of the other parties hereto,
constitutes a legal, valid and binding agreement of the Stockholder enforceable against the Stockholder in accordance with its terms, subject to the Remedies Exception. 

(e) No filings, notices, reports, consents, registrations, approvals, permits, waivers, expirations of waiting periods or
authorizations are required to be obtained by the Stockholder from, or to be given by the Stockholder to, or be made by the Stockholder with, any Governmental Authority or any other Person in connection with the execution, delivery and performance
by the Stockholder of this Agreement and the consummation of the transactions contemplated hereby, in each case other than as contemplated hereby. 

(f) The execution, delivery and performance of this Agreement by the Stockholder do not, and the consummation of the
transactions contemplated hereby will not, (i) constitute or result in a breach or violation of, or a default under, the governing documents of the Stockholder, or (ii) constitute or result in, with or without notice, lapse of time or
both, a breach or violation of, a termination (or right of termination) of or a default under, the loss of any benefit under, the creation, modification or acceleration of any obligations under or the creation of a Lien on any of the properties,
rights or assets of the Stockholder, or the Covered Shares, pursuant to any Contract binding upon the Stockholder or, assuming (solely with respect to performance of this Agreement and the transactions contemplated hereby), compliance with the
matters referred to in Section 4(e), under any Applicable Law to which the Stockholder is subject or any change in the rights or obligations of any party under any Contract legally binding upon the Stockholder, except, in
the case of clause (ii) directly above, for any such breach, violation, termination, default, creation, acceleration or change that would not, individually or in the aggregate, reasonably be expected to prevent or materially delay or impair the
Stockholder’s ability to perform its obligations hereunder or to consummate the transactions contemplated hereby. 
 (g)
As of the date of this Agreement, there is no action, proceeding or investigation pending against the Stockholder or, to the knowledge of the Stockholder, threatened against the Stockholder that questions the beneficial or record ownership of the
Stockholder’s Owned Shares, the validity of this Agreement or the performance by the Stockholder of its obligations under this Agreement that seeks to delay or prevent the Stockholder from performing, or that would reasonably be expected to
impair the ability of the Stockholder to perform, its obligations under this Agreement or to consummate the transactions contemplated by this Agreement on a timely basis. 

  
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 (h) No investment banker, broker, finder or other intermediary is entitled
to any broker’s, finder’s, financial advisor’s or other similar fee or commission in connection with the transactions contemplated hereby and by the Merger Agreement based upon arrangements made by or, to the knowledge of the
Stockholder, on behalf of the Stockholder. 
 5. Representations and Warranties of Parent. Parent hereby represents and warrants to
each Stockholder and the Company as follows: 
 (a) Parent (i) is a legal entity duly organized, validly existing and in
good standing under the Applicable Laws of the state of Delaware, and (ii) has all requisite company power and authority and has taken all company action necessary in order to, execute, deliver and perform its obligations under this Agreement
and to consummate the transactions contemplated hereby. This Agreement has been duly executed and delivered by Parent and, assuming the Agreement is the valid and legally binding agreement of each of the other parties hereto, constitutes a legal,
valid and binding agreement of Parent enforceable against Parent in accordance with its terms, subject to the Remedies Exception. 

(b) Other than the filings, notices and reports pursuant to, in compliance with or required to be made under the Exchange Act
and the consents and approvals described in Sections 4.04 and 4.05 of the Merger Agreement, no filings, notices, reports, consents, registrations, approvals, permits, waivers, expirations of waiting periods or authorizations are required to be
obtained by Parent from, or to be given by Parent to, or be made by Parent with, any Governmental Authority or any other Person in connection with the execution, delivery and performance by Parent of this Agreement and the consummation of the
transactions contemplated hereby, except for any such filing, notice, report, consent, registration, approval, permit, waiver, expiration or authorization that would not, individually or in the aggregate, reasonably be expected to prevent or
materially delay or impair the ability of Parent to perform its obligations hereunder or to consummate the transactions contemplated hereby. 

(c) The execution, delivery and performance of this Agreement by Parent do not, and the consummation of the transactions
contemplated hereby will not, constitute or result in (i) a breach or violation of, or a default under, the Parent Organizational Documents, or (ii) with or without notice, lapse of time or both, a breach or violation of, a termination (or
right of termination) of or a default under, the loss of any benefit under, the creation, modification or acceleration of any obligations under or the creation of a Lien on any of the properties, rights or assets of Parent pursuant to any Contract
binding upon Parent, or, assuming (solely with respect to performance of this Agreement and the transactions contemplated hereby), compliance with the matters referred to in Section 5(b), under any Applicable Law to which
Parent is subject or any change in the rights or obligations of any party under any Contract legally binding upon Parent, except, in the case of clause (ii) directly above, for any such breach, violation, termination, default, creation,
acceleration or change that would not, individually or in the aggregate, reasonably be expected to prevent or materially delay or impair Parent’s ability to perform its obligations hereunder or to consummate the transactions contemplated
hereby. 

  
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 6. Representations and Warranties of the Company. The Company hereby represents and
warrants to each Stockholder and Parent as follows: 
 (a) The Company (i) is a legal entity duly organized, validly
existing and in good standing under the Applicable Laws of the state of Delaware, and (ii) has all requisite company power and authority and has taken all company action necessary in order to, execute, deliver and perform its obligations under
this Agreement and to consummate the transactions contemplated hereby. This Agreement has been duly executed and delivered by the Company and, assuming the Agreement is the valid and legally binding agreement of each of the other parties hereto,
constitutes a legal, valid and binding agreement of the Company enforceable against the Company in accordance with its terms, subject to the Remedies Exception. 

(b) Other than the filings, notices and reports pursuant to, in compliance with or required to be made under the Exchange Act
and the consents and approvals described in Sections 3.04 and 3.05 of the Merger Agreement, no filings, notices, reports, consents, registrations, approvals, permits, waivers, expirations of waiting periods or authorizations are required to be
obtained by the Company from, or to be given by the Company to, or be made by the Company with, any Governmental Authority or any other Person in connection with the execution, delivery and performance by the Company of this Agreement and the
consummation of the transactions contemplated hereby, except for any such filing, notice, report, consent, registration, approval, permit, waiver, expiration or authorization that would not, individually or in the aggregate, reasonably be expected
to prevent or materially delay or impair the ability of the Company to perform its obligations hereunder or to consummate the transactions contemplated hereby. 

(c) The execution, delivery and performance of this Agreement by the Company does not, and the consummation of the transactions
contemplated hereby will not, constitute or result in (i) a breach or violation of, or a default under, the Company Organizational Documents, or (ii) with or without notice, lapse of time or both, a breach or violation of, a termination
(or right of termination) of or a default under, the loss of any benefit under, the creation, modification or acceleration of any obligations under or the creation of a Lien on any of the properties, rights or assets of the Company pursuant to any
Contract binding upon the Company, or, assuming (solely with respect to performance of this Agreement and the transactions contemplated hereby), compliance with the matters referred to in Section 6(b), under any Applicable
Law to which the Company is subject or any change in the rights or obligations of any party under any Contract legally binding upon the Company, except, in the case of clause (ii) directly above, for any such breach, violation, termination,
default, creation, acceleration or change that would not, individually or in the aggregate, reasonably be expected to prevent or materially delay or impair the Company’s ability to perform its obligations hereunder or to consummate the
transactions contemplated hereby. 

  
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 7. Certain Covenants of the Stockholders. Except in accordance with the terms of this
Agreement, each Stockholder hereby covenants and agrees as follows: 
 (a) No Solicitation. 

(i) Subject to Section 7(a)(ii), prior to the Termination Date, the Stockholder shall not, and shall
cause its controlled Affiliates and Subsidiaries not to and shall use its reasonable best efforts to cause its and their respective Representatives acting on their respective behalf, not to, directly or indirectly: (A) initiate, solicit or
knowingly encourage or knowingly facilitate any inquiries or requests for information with respect to, or the making of, any inquiry regarding, or any proposal or offer that constitutes, or would reasonably be expected to result in or lead to, any
Acquisition Proposal with respect to Parent; (B) engage in, continue or otherwise participate in any negotiations or discussions concerning, or provide access to its properties, books and records or any confidential information or data to, any
Person relating to any proposal, offer, inquiry or request for information that constitutes, or would reasonably be expected to result in or lead to, any Acquisition Proposal with respect to Parent; (C) approve, endorse or recommend, or propose
publicly to approve, endorse or recommend, any Acquisition Proposal with respect to Parent; (D) execute or enter into, any letter of intent, memorandum of understanding, agreement in principle, confidentiality agreement, merger agreement,
acquisition agreement, exchange agreement, joint venture agreement, partnership agreement, option agreement or other similar agreement for or relating to any Acquisition Proposal with respect to Parent; or (E) resolve or agree to do any of the
foregoing. The Stockholder agrees that immediately following the execution of this Agreement it shall, and shall cause each of its controlled Affiliates and Subsidiaries and shall use its reasonable best efforts to cause its and their
Representatives acting on its or their respective behalf to, cease any solicitations, discussions or negotiations with any Person (other than the Company and its Representatives) conducted heretofore in connection with an Acquisition Proposal with
respect to Parent or any inquiry or request for information that would reasonably be expected to lead to, or result in, an Acquisition Proposal with respect to Parent. The Stockholder shall promptly (and in any event within two Business Days)
notify, in writing, the Company of the receipt by the Stockholder in such capacity of any inquiry, proposal, offer or request for information received after the date hereof that constitutes, or would reasonably be expected to result in or lead to,
any Acquisition Proposal with respect to Parent, which notice shall include the identity of the Person or group of Persons making, such inquiry, proposal, offer or request for information and, with respect to any such proposal or offer, a summary of
the material terms of, and an unredacted copy of any proposed definitive agreement, proposal or offer made in writing or, if not in writing, a written description of the material terms and conditions of such proposal or offer (and shall include any
other material documents evidencing or specifying the terms of such proposal or offer or, to the extent applicable, inquiry). To the extent the Stockholder is prohibited by a non-disclosure or confidentiality
agreement entered into prior to the date hereof from providing the information set forth in the preceding sentence, the Stockholder shall not be required to provide the 

  
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Company with the identity of the Person(s) from which such expression of interest, inquiry or proposal was received. The Stockholder shall not enter into any confidentiality agreement with any
Person after the date of this Agreement that prohibits it from complying with the foregoing obligations. Nothing in this Section 7(a) shall prohibit Stockholder or its Representatives from informing any Person of the
existence of the provisions contained in this Section 7(a). 
 (ii) Notwithstanding anything in
this Agreement to the contrary, the Stockholder shall be entitled to review any Acquisition Proposal with respect to Parent, received by Parent after the date hereof that did not result from a breach of Section 5.04 of the Merger Agreement and
shared with the Stockholder, and, solely to the extent the Parent Board has made the determinations set forth in Section 5.04(c) of the Merger Agreement, to discuss and confirm with Parent the willingness of the Stockholder to support, or lack
thereof, such Acquisition Proposal in the event the Merger Agreement is terminated. 
 (b) Transfers. Each Stockholder
hereby agrees not to, directly or indirectly, Transfer or enter into any Contract or option with respect to the Transfer of any of the Stockholder’s Covered Shares, or take any action that would make any representation or warranty of the
Stockholder contained herein untrue or incorrect in any material respect or have the effect of preventing or disabling the Stockholder from performing its obligations under this Agreement in any material respect; provided, however, that
nothing herein shall prohibit a Transfer to an Affiliate of the Stockholder (a “Permitted Transfer”) or a Transfer consented to by Parent and the Company; provided, further, that any Permitted Transfer shall be permitted only
if, as a precondition to such Transfer, the transferee agrees in a writing, reasonably satisfactory in form and substance to Parent and the Company, to assume all of the obligations of the Stockholder under, and be bound by all of the terms of, this
Agreement; provided, further, that any Transfer permitted under this Section 7(b) shall not relieve the Stockholder of its obligations under this Agreement. Any Transfer in violation of this
Section 7(b) with respect to the Stockholder’s Covered Shares shall be null and void ab initio. 

(c) Lock-up Agreement. Each Stockholder hereby agrees not to, during the period
beginning on the Closing Date and ending on the later of the date that is (i) sixty (60) days after the Closing Date and (ii) the date that a Shelf Registration Statement (as defined in the New RRA (as defined below)) filed pursuant to
Section 2.01(a) of the New RRA becomes effective (the “Lock-up Period”), (A) lend; offer; sell; contract to sell; sell any option or contract to purchase; purchase any option or contract
to sell; grant any option, right, or warrant to purchase; or otherwise transfer or dispose of, in each case whether effected directly or indirectly, any Covered Shares, (B) enter into any swap or other arrangement that transfers to another, in
whole or in part, any of the economic consequences of ownership of such securities, whether any such transaction described in clause (A) or clause (B) above is to be settled by delivery of Covered Shares or other securities, in cash, or
otherwise or (C) publicly announce the intention to effect any of the transactions covered in clause (A) and clause (B) above; provided that the Stockholder may enter into a trading plan pursuant to Rule 10b5-1 under the Exchange Act for the transfer of Covered Shares so long as such plan does not provide for the transfer of Covered Shares 

  
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during the Lock-Up Period; provided further, that nothing herein shall prohibit the Stockholder from (1) pledging any Covered Shares in
connection with the Stockholder’s entry into a credit facility or any other bona fide borrowing or similar lending arrangement, which shall include margin loans (provided, that for the avoidance of doubt, any pledgee who receives such Covered
Shares following the exercise of remedies shall not be subject to the restrictions set forth in this Section 7(c)), (2) transferring any Covered Shares as a distribution or transfer to general partners, limited partners,
members or stockholders of the Stockholder, (3) transferring any Covered Shares to any corporation, partnership, limited liability company, investment fund or other entity which controls or manages or is controlled or managed by the
Stockholder, or to any Affiliate under common control or management with the Stockholder, (4) transferring any Covered Shares in connection with the completion of a liquidation, merger, stock exchange or other similar transaction that results
in all of Parent’s securityholders having the right to exchange their shares of Parent Common Stock for cash, securities or other property, (5) (x) transfers of Covered Shares pursuant to a bona fide third-party tender offer for shares of the
Parent’s capital stock made to all holders of Parent’s securities or pursuant to a merger, consolidation or other similar transaction approved by the Parent Board the result of which is that any person (as defined in Section 13(d)(3)
of the Exchange Act), or group of persons, other than Parent, becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 of the Exchange Act) of more than 50% of
the total voting power of the voting stock of Parent and (y) entry into any lock-up, voting or similar agreement pursuant to which the Stockholder may agree to transfer, sell, tender or otherwise dispose
of shares of Parent Common Stock or such other securities in connection with a transaction described in the immediately foregoing clause (x) above (provided that, in the event that such change of control transaction is not completed, any
Covered Shares shall remain subject to the restrictions contained this Section 7(c)), or (6) by operation of law or pursuant to a final order of a court or regulatory agency; provided further, that, in the case
of the foregoing clauses (1) through (3), (I) each such transferee agrees to be bound in writing by the restrictions set forth in this Section 7(c), (II) any such transfer shall not involve a disposition for value and
(III) no public filing or public disclosure shall be required or voluntarily made during the Lock-up Period in connection with any such transfer (other than required filings under Sections 13(d) or 13(g)
or Section 16 of the Exchange Act). Each Stockholder agrees and consents to the entry of stop transfer instructions with Parent’s transfer agent and registrar against the transfer of Covered Shares except in compliance with the foregoing
restrictions. Notwithstanding the foregoing, to the extent all or any portion of Section 5.05 of the New RRA is waived by Parent with respect to any Major Holder (which, prior to the effectiveness of the Shelf Registration Statement under the
New RRA, may only occur following the written request or consent of a Bain Entity), then the corresponding provisions of this Section 7(c) shall automatically be deemed to be waived with respect to each Stockholder to the same extent as waived
with respect to such Major Holder. 
 (d) Irrevocable Proxy. In order to secure the obligations set forth herein, each
Stockholder hereby irrevocably appoints the Company, or any nominee thereof, with full power of substitution and resubstitution, as its true and lawful proxy
and attorney-in-fact, only in the event that such Stockholder does not comply with its obligations in Section 1, to vote or execute
written consents with respect to the Stockholder’s Covered Shares in accordance with Section 1 and with respect to any proposed postponements or 

  
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adjournments of any meeting of the stockholders of Parent at which any of the matters described in Section 1 are to be considered, including the Special Meeting. Each
Stockholder hereby affirms that this proxy is coupled with an interest and shall be irrevocable, except upon termination of this Agreement, and the Stockholder will take such further action or execute such other instruments as may be necessary to
effectuate the intent of this proxy and hereby revokes any proxy previously granted by such Stockholder with respect to any of its Covered Shares that is materially inconsistent with the Stockholder’s obligations pursuant to this Agreement.
This proxy shall be revoked automatically upon the termination of this Agreement pursuant to Section 3, and the Company may terminate this proxy at any time at its sole election by written notice provided to such
Stockholder. 
 (e) No Short Sales. Each Stockholder agrees that, from the date of this Agreement to and including the
date of the termination of this Agreement, none of the Stockholder nor any person or entity acting on behalf of the Stockholder or pursuant to any understanding with the Stockholder will engage in any Short Sales with respect to securities of
Parent. For the purposes hereof, “Short Sales” shall mean all “short sales” as defined in Rule 200 promulgated under Regulation SHO under the Exchange Act, and all short positions effected through any direct or indirect
stock pledges (other than pledges in the ordinary course of business as part of prime brokerage arrangements), forward sale contracts, options, puts, calls, swaps and similar arrangements (including on a total return basis), or sales or other short
transactions through non-U.S. broker dealers or foreign regulated brokers. 
 (f)
Each Stockholder hereby authorizes the Company to maintain a copy of this Agreement at either the executive office or the registered office of the Company. 

8. Priority of Certain Registration Rights. Upon the effectiveness of the Registration Rights Agreement (in the form attached to the
Merger Agreement and without giving effect to any amendments thereto after such effectiveness, the “New RRA”) to be entered into by certain existing stockholders (the “New RRA Holders”) of the Company in connection
with the Transactions, the Stockholder agrees that, notwithstanding any preexisting priority rights it may have pursuant to the terms of any existing agreement or arrangement with Parent (including, for avoidance of doubt, the Registration Rights
Agreement, dated as of May 10, 2018, by and among Parent and the other parties thereto (the “Existing RRA”)), in the event of any proposed underwritten offering of Parent securities initiated by a New RRA Holder as contemplated
by Section 2.03(a) of the New RRA or in which a New RRA Holder has the right to include any of its securities of Parent as contemplated by Section 2.03(c) of the New RRA, the allocation of securities of Parent to be included in such
underwritten offering shall, as between the Stockholder and its Affiliates, on the one hand, and the New RRA Holders, on the other hand, be made on a proportional basis. For avoidance of doubt, the “proportional basis” referred to in the
preceding sentence with respect to the allocation provisions of Section 2.03(b) and/or 2.03(c) of the New RRA shall be interpreted as if the Stockholder and its Affiliates are “selling Other RRA Holders” as defined in, and
contemplated by, the New RRA, and any “Registrable Securities” (as defined in the Existing RRA) of the Stockholder and its Affiliates shall be treated, solely for the purposes of interpreting such provisions, as “registrable shares of
Common Stock” as contemplated by the New RRA. 

  
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 9. HSR Act. Each Stockholder will use reasonable best efforts to cooperate with the
Company and Parent with respect to any notification form required pursuant to the HSR Act in connection with the Transactions, including with respect to providing information requested by any Governmental Authority with respect thereto. The parties
hereto agree that all filing fees associated with filings made with Governmental Authorities pursuant to this Section 9 shall be treated as Transaction Expenses under the Merger Agreement, subject to applicable limitations
set forth in the Merger Agreement. 
 10. Termination of Stockholders’ Agreement. Each Stockholder hereby agrees to
execute and deliver such additional documents and take all such further action as may be reasonably necessary to cause: (a) the Stockholders’ Agreement, dated May 10, 2018, as amended and currently in effect, among Parent and each of
the other parties set forth on the signature pages thereto (the “Stockholders’ Agreement”) to be terminated (the “Stockholders’ Agreement Termination”) without any further
force and effect effective no later than immediately prior to the First Effective Time; and (b) the then-sitting Riverstone Director (as defined in the Stockholders’ Agreement) to resign or be removed from the Parent Board no later than
immediately prior to the First Effective Time, which in each case the Stockholder may cause to be contingent upon the occurrence of the First Effective Time, and the Stockholder hereby agrees to the waiver of any rights of first refusal, preemptive
rights, rights of co-sale, and registration rights with respect to the Transactions to the extent any such rights heretofore existed pursuant to the Stockholders’ Agreement. 

11. Further Assurances; Waiver of Appraisal Rights. From time to time, at Parent’s or the Company’s request and without
further consideration, each Stockholder shall execute and deliver such additional documents and take all such further action as may be reasonably necessary or reasonably requested to effect the actions and consummate the transactions contemplated by
this Agreement and the Merger Agreement. Each Stockholder further agrees, without limiting remedies for fraud, not to commence or participate in, and to take all actions reasonably necessary to opt out of any class in any class action with respect
to, any action or claim, derivative or otherwise, against Parent, the Company or any of their respective Affiliates, successors and assigns relating to the negotiation, execution or delivery of this Agreement, the Merger Agreement (including
alleging a breach of any duty of the Company Board or Parent Board in connection with the Merger Agreement, this Agreement or the transactions contemplated hereby or the Transactions) or the consummation of the transactions contemplated hereby and
the Transactions. Each Stockholder hereby irrevocably and unconditionally waives, and agrees not to exercise, assert or perfect (or attempt to exercise, assert or perfect), any rights of appraisal or rights to dissent in connection with the First
Merger or the other Transactions that the Stockholder may at any time have under Applicable Law by virtue of ownership of the Covered Shares. 

12. Disclosure. Each Stockholder hereby authorizes the Company and Parent to publish and disclose in any announcement or disclosure
required by the SEC the Stockholder’s identity and ownership of the Covered Shares and the nature of the Stockholder’s obligations under this Agreement; provided, that prior to any such publication or disclosure the Company and
Parent have provided the Stockholder with a reasonable opportunity to review and comment upon such announcement or disclosure, which comments the Company and Parent will consider in good faith. 

  
 11 

 13. Changes in Capital Stock. In the event of a stock split, stock dividend or
distribution, or any change in Parent’s capital stock by reason of any split-up, reverse stock split, recapitalization, combination, reclassification, exchange of shares or the like, the terms “Owned
Shares,” and “Covered Shares” shall be deemed to refer to and include such shares as well as all such stock dividends and distributions and any securities into which or for which any or all of such shares may be converted, changed or
exchanged or which are received in such transaction. 
 14. Amendment and Modification. This Agreement may not be amended, modified or
supplemented in any manner, whether by course of conduct or otherwise, except by an instrument in writing signed by each of the parties hereto. No failure or delay by any party hereto exercising any right, power or privilege hereunder shall operate
as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies of the parties hereto hereunder are cumulative and
are not exclusive of any rights or remedies which they would otherwise have hereunder. Any agreement on the part of a party hereto to any such waiver shall be valid only if set forth in a written instrument executed and delivered by such party 

15. Notices. 

(a) A notice given under this Agreement shall be sent to the attention of the Person, and to the physical address, email
address or fax number given in this Section 15 (or such other physical address, email address, fax number or Person as the party may notify to the other in accordance with the provisions of this
Section 15 and shall be delivered personally; sent by fax; sent by email; or sent by registered mail or reputable international overnight courier. 

(b) The addresses for service of notice are: 

if to the Stockholders, to them at: 

[•] 
 Attention: [•]

 E-mail: [•] 

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

Vinson & Elkins LLP 

Texas Tower 
 845 Texas Avenue,
Suite 4700 
 Houston, Texas 77002 

Attention:            Lande A. Spottswood 

Facsimile No.:     (713) 615-5171 

Email:                  lspottswood@velaw.com 

  
 12 

 if to Parent, to: 

Talos Energy Inc. 
 333 Clay
Street, Suite 3300 
 Houston, Texas 77002 

Attention:            William S. Moss III 

Facsimile No.:     (713) 574-4919 

Email:                  bill.moss@talosenergy.com 

with a copy to: 

Vinson & Elkins LLP 

Texas Tower 
 845 Texas Avenue,
Suite 4700 
 Houston, Texas 77002 

Attention:            Lande A. Spottswood 

Facsimile No.:     (713) 615-5171 

Email:                  lspottswood@velaw.com 

if to the Company prior to the Closing, to: 

EnVen Energy Corporation 
 609
Main Street, Suite 3200 
 Houston, Texas 77002 

Attention:            General Counsel 

Facsimile No.:     (713) 335-7500 

E-mail:
                jstarzec@enven.com 
 with a
copy to: 
 Davis Polk & Wardwell LLP 

450 Lexington Avenue 
 New York,
New York 10017 
 Attention:            William J. Chudd 

Facsimile No.:     (212) 701-5800 

Email:                  william.chudd@davispolk.com 

16. No Ownership Interest. Nothing contained in this Agreement shall be deemed to vest in Parent or the Company any direct or indirect
ownership or incidence of ownership of or with respect to the Covered Shares of the Stockholders. All rights, ownership and economic benefits of and relating to the Covered Shares of the Stockholders shall remain vested in and belong to the
applicable Stockholder, and neither Parent nor the Company shall have authority to direct any Stockholder in the voting or disposition of any of such Stockholder’s Covered Shares, except as otherwise provided herein. 

17. Entire Agreement. This Agreement and the other Transaction Agreements as to which the Company or Parent, on the one hand, and the
Stockholders on the other hand, are parties, constitute the entire agreement among the parties relating to the transactions contemplated hereby and supersede any other agreements, whether written and oral, that may have been entered into by or among
any of the parties hereto relating to the transactions contemplated hereby. 

  
 13 

 18. No Third-Party Beneficiaries. Each Stockholder hereby agrees that its
representations, warranties and covenants set forth herein are solely for the benefit of Parent and the Company in accordance with and subject to the terms of this Agreement, and this Agreement is not intended to, and does not, confer upon any
Person other than the parties hereto any rights or remedies hereunder, including the right to rely upon the representations and warranties set forth herein, and the parties hereto hereby further agree that this Agreement may only be enforced
against, and any Legal Proceeding 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 Persons expressly named as parties hereto. 

19. Assignment; Successors. Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned by any of
the parties hereto in whole or in part (whether by operation of Applicable Law or otherwise) without the prior written consent of the other parties hereto, and any such assignment without such consent shall be null and void. This Agreement shall be
binding upon, inure to the benefit of and be enforceable by the parties hereto and their respective successors and permitted assigns. Any attempted assignment in violation of the terms of this Section 19 shall be null and
void, ab initio. 
 20. Capacity as a Stockholder. Notwithstanding anything herein to the contrary, each Stockholder signs this
Agreement solely in the Stockholder’s capacity as a stockholder of the Company, and not in any other capacity, and this Agreement shall not limit or otherwise affect the actions of any affiliate, employee or designee of the Stockholder or any
of its affiliates in his or her capacity, if applicable, as an officer or director of the Company or any other Person. 
 21.
Miscellaneous. The provisions set forth in Sections 1.02 (Other Definitional and Interpretative Provisions), 10.10 (Severability), 10.12 (Counterparts; Effectiveness), 10.13 (Jurisdiction), 10.14 (Governing Law), 10.15 (Specific Performance)
and 10.16 (Waiver of Jury Trial) of the Merger Agreement, as in effect as of the date hereof, are hereby incorporated by reference into, and shall be deemed to apply to, this Agreement, mutatis mutandis. 

[The remainder of this page is intentionally left blank.] 

  
 14 

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

			
	TALOS ENERGY INC.
		
	By:	 	
                     

		 	Name:
		 	Title:
	
	ENVEN ENERGY CORPORATION
		
	By:	 	
                     

		 	Name:
		 	Title:

 
			
	[STOCKHOLDER]
		
	By:	 	
                     
    

		 	Name:
		 	Title:

 Schedule 1 
  

			
	 Stockholder
	  	 Common Stock

	[•]	  	[•]Exhibit 4.3

 

THE REGISTERED HOLDER OF THIS PURCHASE OPTION
BY ITS ACCEPTANCE HEREOF AGREES THAT IT WILL NOT SELL, TRANSFER OR ASSIGN THIS PURCHASE OPTION EXCEPT AS HEREIN PROVIDED AND THE REGISTERED
HOLDER OF THIS PURCHASE OPTION AGREES THAT IT WILL NOT SELL, TRANSFER, ASSIGN, PLEDGE OR HYPOTHECATE THIS PURCHASE OPTION OR CAUSE IT
TO BE THE SUBJECT OF ANY HEDGING, SHORT SALE, DERIVATIVE, PUT, OR CALL TRANSACTION THAT WOULD RESULT IN THE EFFECTIVE ECONOMIC DISPOSITION
OF THE PURCHASE OPTION BY ANY PERSON FOR A PERIOD OF ONE HUNDRED EIGHTY DAYS FROM THE COMMENCEMENT OF SALES IN THE OFFERING TO ANYONE
OTHER THAN TO (I) CHARDAN CAPITAL MARKETS, LLC (“CHARDAN”) OR AN UNDERWRITER OR SELECTED DEALER PARTICIPATING
IN THE OFFERING OR (II) AN OFFICER OR PARTNER OF CHARDAN OR OF ANY SUCH UNDERWRITER OR SELECTED DEALER AND IN ACCORDANCE WITH FINRA RULE
5110(E)(2).

 

THIS PURCHASE OPTION IS VOID AFTER 5:00 P.M. NEW
YORK CITY LOCAL TIME, ON THE EARLIER OF THE EXPIRATION DATE (AS DEFINED HEREIN) OR THE DAY IMMEDIATELY PRIOR TO THE DAY ON WHICH CARAVELLE
INTERNATIONAL GROUP (THE “COMPANY”) AND ALL OF ITS SUCCESSORS HAVE BEEN DISSOLVED.

 

UNIT PURCHASE OPTION

FOR THE PURCHASE OF

UP TO 158,125 UNITS OF

CARAVELLE INTERNATIONAL GROUP

 

1. PURCHASE
OPTION.

 

THIS CERTIFIES THAT, in consideration of $100.00
duly paid by or on behalf of Chardan Capital Markets, LLC (the “Holder”), as registered owner of this Purchase
Option, to Caravelle International Group (the “Company”), Holder is entitled, at any time or from time to time
upon the consummation by the Company of a Business Combination (as defined by the Amended and Restated Agreement and Plan of Merger, dated
as of August 15, 2022, by and among the Company, Pacifico Acquisition Corp. (“Pacifico”), Pacifico International
Group, Pacifico Merger Sub 2 Inc. and Caravelle Group Co., Ltd (the “Merger Agreement”) (the “Commencement
Date”), until, at or before 5:00 p.m., New York City local time, on the earlier of the five year anniversary of the effective
date of Pacifico’s registration statement (the “Registration Statement”)t and the day immediately prior
to the day on which the Company and all of its successors have been dissolved, but not thereafter (the “Expiration Date”),
as described in the Registration Statement pursuant to which Units are offered for sale to the public in Pacifico’s initial public
offering (the “Offering”), to subscribe for, purchase and receive, in whole or in part, up to One Hundred and
Fifty-Eight Thousand One Hundred and Twenty-Five (158,125) units (“Units”) of the Company, each Unit consisting
of one (1) ordinary share, par value $0.0001 per share, of the Company (“Share(s)”) and one (1) right to receive
one-tenth (1/10) of a Share upon the consummation of a Business Combination (“Right(s)”). Each Right has the
same terms as the rights included in the units registered for sale to the public by way of the Registration Statement (“Public
Rights”). Notwithstanding anything to the contrary, the original Holder of this Purchase Option agrees that it will not
be permitted to exercise this Purchase Option after the five year anniversary of the commencement of sales of the Offering. During the
period ending on the Expiration Date, the Company agrees not to take any action that would terminate the Purchase Option. This Purchase
Option is initially exercisable at $11.50 per Unit so purchased; provided, however, that upon the occurrence of
any of the events specified in Section 6 hereof, the rights granted by this Purchase Option, including the exercise price
per Unit and the number of Units (and Shares and Rights) to be received upon such exercise, shall be adjusted as therein specified. The
term “Exercise Price” shall mean the initial exercise price or the adjusted exercise price, depending on the
context.

  

2. EXERCISE OF
PURCHASE OPTION

 

2.1 Exercise
Form. In order to exercise this Purchase Option, the exercise form attached hereto must be duly executed and completed and
delivered to the Company, together with this Purchase Option and payment of the Exercise Price for the Units being purchased payable
in cash or by certified check or official bank check or pursuant to Section 2.3 hereof. If the subscription rights represented
hereby shall not be exercised at or before 5:00 p.m., New York City local time, on the Expiration Date, this Purchase Option shall
become and be void without further force or effect, and all rights represented hereby shall cease and expire.

 

     

     

    

 

2.2 Legend. Each
certificate for the securities purchased under this Purchase Option shall bear a legend as follows, unless such securities have been registered
under the Securities Act of 1933, as amended (“Act”):

 

“The securities represented by this
certificate have not been registered under the Securities Act of 1933, as amended (“Act”) or the laws of applicable states
or other jurisdictions. The securities may not be offered for sale, sold or otherwise transferred except pursuant to an effective registration
statement under the Act, or pursuant to an exemption from registration under the Act and applicable laws of states or other jurisdictions.”

 

2.3 Cashless
Exercise.

 

2.3.1 Determination
of Amount. In lieu of the payment of the Exercise Price multiplied by the number of Units for which this Purchase Option is exercisable
(and in lieu of being entitled to receive Shares) in the manner required by Section 2.1, and subject to Section 6.1 hereof,
the Holder shall have the right (but not the obligation) to convert any exercisable but unexercised portion of this Purchase Option into
Units (“Cashless Exercise Right”) as follows: upon exercise of the Cashless Exercise Right, the Company shall
deliver to the Holder (without payment by the Holder of any of the Exercise Price in cash) that number of Units (or that number of Shares
and Rights comprising that number of Units) equal to the number of Units to be exercised multiplied by the quotient obtained by dividing
(x) the “Value” (as defined below) of the portion of the Purchase Option being converted by (y) the Current Market Value (as
defined below). The “Value” of the portion of the Purchase Option being converted shall equal the remainder
derived from subtracting (a) (i) the Exercise Price multiplied by (ii) the number of Units underlying the portion of this Purchase Option
being converted from (b) the Current Market Value of a Unit multiplied by the number of Units underlying the portion of the Purchase Option
being converted. As used herein, the term “Current Market Value” per Unit at any date means: (A) in the event
that the Units, Shares and Public Rights are still trading, (i) if the Units are listed on a national securities exchange or quoted on
the OTC Bulletin Board or successor exchange, the average reported last sale price of the Units in the principal trading market for the
Units as reported by the exchange, Nasdaq or the Financial Industry Regulatory Authority (“FINRA”), as the case
may be, for the three trading days preceding the date in question; or (ii) if the Units are not listed on a national securities exchange
or quoted on the OTC Bulletin Board (or successor exchange), but are traded in the residual over-the-counter market, the average reported
last sale price for Units for the three trading days preceding the date in question for which such quotations are reported by the Pink
Sheets, LLC, or similar publisher of such quotations; or (B) in the event that the Units are not still trading but the Shares underlying
the Units are still trading, the aggregate of (i) the product of (x) the Current Market Price of the Share and (y) the number of the Shares
underlying one Unit (which shall include the portion of a Share the holder of a Unit would automatically receive in connection with the
Right included in each such Unit). The “Current Market Price” shall mean (i) if the Shares are listed on a national securities
exchange or quoted on the OTC Bulletin Board (or successor exchange), the average reported last sale price of the Shares in the principal
trading market for the Shares as reported by the exchange, Nasdaq or FINRA, as the case may be, for the three trading days preceding the
date in question; (ii) if the Shares are not listed on a national securities exchange or quoted on the OTC Bulletin Board (or successor
exchange), but are traded in the residual over-the-counter market, the average reported last sale price for the Shares on for the three
(3) trading days preceding the date in question for which such quotations are reported by the Pink Sheets, LLC or similar publisher of
such quotations; and (iii) if the fair market value of the Shares cannot be determined pursuant to clause (i) or (ii) above, such price
as the Board of Directors of the Company shall determine, in good faith.

 

2.3.2 Mechanics of
Cashless Exercise. The Cashless Exercise Right may be exercised by the Holder on any business day on or after the Commencement
Date and not later than the Expiration Date by delivering the Purchase Option with the duly executed exercise form attached hereto
with the cashless exercise section completed to the Company, exercising the Cashless Exercise Right and specifying the total number
of Units the Holder will purchase pursuant to such Cashless Exercise Right.

 

2.4 No Obligation
to Net Cash Settle. Notwithstanding anything to the contrary contained in this Purchase Option, in no event will the Company be required
to net cash settle the exercise of the Purchase Option. The holder of the Purchase Option will not be entitled to exercise the Purchase
Option unless it exercises such Purchase Option pursuant to the Cashless Exercise Right or a registration statement is effective, or an
exemption from the registration requirements is available at such time and, if the holder is not able to exercise the Purchase Option,
the Purchase Option, as applicable, will expire worthless.

 

    2

     

    

 

3. TRANSFER
OF PURCHASE OPTION.

 

3.1 General
Restrictions. The registered Holder of this Purchase Option, by its acceptance hereof, agrees that it will not sell, transfer,
assign, pledge or hypothecate this Purchase Option (or the Shares and Rights underlying this Purchase Option), or cause the Purchase
Option (or the Shares and Rights underlying this Purchase Option) to be the subject of any hedging, short sale, derivative, put, or
call transaction that would result in the effective economic disposition of the Purchase Option by any person, for a period of 180
days (pursuant to Rule 5110(e)(1) of the Conduct Rules of FINRA following the commencement of sales of the Offering to anyone other
than (i) Chardan or an underwriter or selected dealer in connection with the Offering, or (ii) a bona fide officer or partner of
Chardan or of any such underwriter or selected dealer. On and after the 181st day following the following the commencement of sales
of the Offering, transfers to others may be made subject to compliance with or exemptions from applicable securities laws. In order
to make any permitted assignment, the Holder must deliver to the Company the assignment form attached hereto duly executed and
completed, together with the Purchase Option and payment of all transfer taxes, if any, payable in connection therewith. The Company
shall within 5 business days transfer this Purchase Option on the books of the Company and shall execute and deliver a new Purchase
Option of like tenor to the appropriate assignee(s) expressly evidencing the right to purchase the aggregate number of Units
purchasable hereunder or such portion of such number as shall be contemplated by any such assignment.

 

3.2 Restrictions
Imposed by the Act. The securities evidenced by this Purchase Option shall not be transferred unless and until (i) the Company
has received the opinion of counsel for the Holder that the securities may be transferred pursuant to an exemption from registration
under the Act and applicable state securities laws, the availability of which is established to the reasonable satisfaction of the
Company (the Company hereby agreeing that the opinion of Pryor Cashman LLP shall be deemed satisfactory evidence of the availability
of an exemption), or (ii) a registration statement or a post-effective amendment to the Registration Statement relating to such
securities has been filed by the Company and declared effective by the Securities and Exchange Commission (the
“Commission”) and compliance with applicable state securities law has been established.

 

4. NEW PURCHASE OPTION
TO BE ISSUED.

 

4.1 Partial
Exercise or Transfer. Subject to the restrictions in Section 3 hereof, this Purchase Option may be exercised or
assigned in whole or in part. In the event of the exercise or assignment hereof in part only, upon surrender of this Purchase Option
for cancellation, together with the duly executed exercise or assignment form and funds sufficient to pay any Exercise Price (except
to the extent that the Holder elects to exercise this Purchase Option by means of a cashless exercise as provided in Section
2.3 above) and/or transfer tax, the Company shall cause to be delivered to the Holder without charge a new Purchase Option
of like tenor to this Purchase Option in the name of the Holder evidencing the right of the Holder to purchase the number of Units
purchasable hereunder as to which this Purchase Option has not been exercised or assigned

 

4.2 Lost
Certificate. Upon receipt by the Company of evidence satisfactory to it of the loss, theft, destruction or mutilation of this
Purchase Option and of reasonably satisfactory indemnification or the posting of a bond, the Company shall execute and deliver a new
Purchase Option of like tenor and date. Any such new Purchase Option executed and delivered as a result of such loss, theft,
mutilation or destruction shall constitute a substitute contractual obligation on the part of the Company.

  

5. REGISTRATION RIGHTS.

 

5.1 Demand
Registration.

 

5.1.1 Grant of
Right. The Company, upon written demand (“Initial Demand Notice”) of the Holder(s) of at least 51% of
the Purchase Option and/or the underlying Units and/or the underlying securities (“Majority Holders”),
agrees to use its best efforts to register (the “Demand Registration”) under the Act on one (1) occasion,
all or any portion of the (i) Purchase Option requested by the Majority Holders in the Initial Demand Notice and all of the
securities underlying such Purchase Option, including the Units, Shares, and the Shares underlying the Rights and (ii) the units
issued to the Holder prior to or concurrently with the Offering and all securities underlying such units (collectively, the
“Registrable Securities”). On such occasion, the Company will use its best efforts to file a registration
statement or a post-effective amendment to the Registration Statement covering the Registrable Securities as expeditiously as
possible, and in any event within forty-five (45) days, after receipt of the Initial Demand Notice and use its best efforts to have
such registration statement or post-effective amendment declared effective as soon as possible thereafter. The demand for
registration may be made at any time during a period of five years from the commencement of sales in the Offering. The Initial
Demand Notice shall specify the number of shares of Registrable Securities proposed to be sold and the intended method(s) of
distribution thereof. The Company will notify all holders of the Purchase Option and/or Registrable Securities of the demand within
ten days from the date of the receipt of any such Initial Demand Notice. Each holder of Registrable Securities who wishes to include
all or a portion of such holder’s Registrable Securities in the Demand Registration (each such holder including shares of
Registrable Securities in such registration, a “Demanding Holder”) shall so notify the Company within
fifteen (15) days after the receipt by the holder of the notice from the Company. Upon any such request, the Demanding Holders shall
be entitled to have their Registrable Securities included in the Demand Registration, subject to Section 5.1.4. The
Company shall not be required to effect more than one (1) Demand Registration under this Section 5.1 in respect of all Registrable
Securities.

 

5.1.2 Effective
Registration. Notwithstanding Section 5.1.5, a registration will not count as a Demand Registration until the
registration statement filed with the Commission, with respect to such Demand Registration, has been declared effective and the
Company has complied with all of its obligations under this Purchase Option with respect thereto.

 

5.1.3 Underwritten
Offering. If the Majority Holders so elect and such holders so advise the Company as part of the Initial Demand Notice, the
offering of such Registrable Securities pursuant to such Demand Registration shall be in the form of an underwritten offering. In
such event, the right of any holder to include its Registrable Securities in such registration shall be conditioned upon such
holder’s participation in such underwriting and the inclusion of such holder’s Registrable Securities in the
underwriting to the extent provided herein. All Demanding Holders proposing to distribute their securities through such underwriting
shall enter into an underwriting agreement in customary form with the underwriter or underwriters selected for such underwriting by
the Majority Holders.

 

    3

     

    

 

5.1.4 Reduction of
Offering. If the managing underwriter or underwriters for a Demand Registration that is to be an underwritten offering advises
the Company and the Demanding Holders in writing that the dollar amount or number of shares of Registrable Securities which the
Demanding Holders desire to sell, taken together with all other Shares or other securities which the Company desires to sell and the
Shares, if any, as to which registration has been requested pursuant to written contractual piggy-back registration rights held by
other stockholders of the Company who desire to sell, exceeds the maximum dollar amount or maximum number of shares that can be sold
in such offering without adversely affecting the proposed offering price, the timing, the distribution method, or the probability of
success of such offering (such maximum dollar amount or maximum number of shares, as applicable, the “Maximum Number of
Shares”), then the Company shall include in such registration: (i) first, the Registrable Securities as to which
Demand Registration has been requested by the Demanding Holders (pro rata in accordance with the number of shares that each such
person has requested be included in such registration, regardless of the number of shares held by each such person (such proportion
is referred to herein as “Pro Rata”)) that can be sold without exceeding the Maximum Number of Shares;
(ii) second, to the extent that the Maximum Number of Shares has not been reached under the foregoing clause (i), the Shares or
other securities that the Company desires to sell that can be sold without exceeding the Maximum Number of Shares; (iii) third, to
the extent that the Maximum Number of Shares has not been reached under the foregoing clauses (i) and (ii), the Shares or other
securities registrable pursuant to the terms of the Amended and Restated Registration Rights Agreement between the Company and the
initial investors in Pacifico, Chardan and other parties, dated as of April 5, 2022 (the “Registration Rights
Agreement” and such registrable securities, the “Investor Securities”) as to which
“piggy-back” registration has been requested by the holders thereof, Pro Rata, that can be sold without exceeding the
Maximum Number of Shares; and (iv) fourth, to the extent that the Maximum Number of Shares has not been reached under the foregoing
clauses (i), (ii), and (iii), the Shares or other securities for the account of other persons that the Company is obligated to
register pursuant to written contractual arrangements with such persons and that can be sold without exceeding the Maximum Number of
Shares.

 

5.1.5 Withdrawal.
If a majority-in-interest of the Demanding Holders disapprove of the terms of any underwriting or are not entitled to include all of their
Registrable Securities in any offering, such majority-in-interest of the Demanding Holders may elect to withdraw from such offering by
giving written notice to the Company and the underwriter or underwriters of their request to withdraw prior to the effectiveness of the
registration statement filed with the Commission with respect to such Demand Registration. If the majority-in-interest of the Demanding
Holders withdraws from a proposed offering relating to a Demand Registration, then the Company does not have to continue its obligations
under Section 5.1, provided that, any such withdrawal will not count as the Demand Registration if the Demanding
Holders pay all of the Company’s out-of-pocket expenses, with respect to such withdrawn registration.

 

5.1.6 Terms. The
Company shall bear all fees and expenses attendant to registering the Registrable Securities, including the expenses of one legal counsel
selected by the Holders to represent them in connection with the sale of the Registrable Securities, but the Holders shall pay any and
all underwriting commissions. The Company agrees to use its reasonable best efforts to qualify or register the Registrable Securities
in such states as are reasonably requested by the Majority Holder(s); provided, however, that in no event shall
the Company be required to register the Registrable Securities in a state in which such registration would cause (i) the Company to be
obligated to qualify to do business in such state, or would subject the Company to taxation as a foreign corporation doing business in
such jurisdiction or (ii) the principal stockholders of the Company to be obligated to escrow their shares of capital stock of the Company.
The Company shall use its best efforts to cause any registration statement or post-effective amendment filed pursuant to the demand rights
granted under Section 5.1.1 to remain effective for a period of nine consecutive months from the effective date of such
registration statement or post-effective amendment.

 

5.2 Piggy-Back
Registration.

 

5.2.1 Piggy-Back
Rights. If at any time during the seven year period commencing on the date of commencement of sales in the Offering, the Company
proposes to file a registration statement under the Act with respect to an offering of equity securities, or securities or other
obligations exercisable or exchangeable for, or convertible into, equity securities, by the Company for its own account or for
stockholders of the Company for their account (or by the Company and by stockholders of the Company including, without limitation,
pursuant to Section 5.1), other than a registration statement (i) filed in connection with any employee stock option or
other benefit plan, (ii) for an exchange offer or offering of securities solely to the Company’s existing stockholders, (iii)
for an offering of debt that is convertible into equity securities of the Company or (iv) for a dividend reinvestment plan, then the
Company shall (x) give written notice of such proposed filing to the holders of Registrable Securities as soon as practicable but in
no event less than ten (10) days before the anticipated filing date, which notice shall describe the amount and type of securities
to be included in such offering, the intended method(s) of distribution, and the name of the proposed managing underwriter or
underwriters, if any, of the offering, and (y) offer to the holders of Registrable Securities in such notice the opportunity to
register the sale of such number of shares of Registrable Securities as such holders may request in writing within five (5) days
following receipt of such notice (a “Piggy-Back Registration”). The Company shall cause such Registrable
Securities to be included in such registration and shall use its best efforts to cause the managing underwriter or underwriters of a
proposed underwritten offering to permit the Registrable Securities requested to be included in a Piggy-Back Registration on the
same terms and conditions as any similar securities of the Company and to permit the sale or other disposition of such Registrable
Securities in accordance with the intended method(s) of distribution thereof. All holders of Registrable Securities proposing to
distribute their securities through a Piggy-Back Registration that involves an underwriter or underwriters shall enter into an
underwriting agreement in customary form with the underwriter or underwriters selected for such Piggy-Back Registration

 

    4

     

    

 

5.2.2 Reduction of
Offering. If the managing underwriter or underwriters for a Piggy-Back Registration that is to be an underwritten offering
advises the Company and the holders of Registrable Securities in writing that the dollar amount or number of Shares which the
Company desires to sell, taken together with Shares, if any, as to which registration has been demanded pursuant to written
contractual arrangements with persons other than the holders of Registrable Securities hereunder, the Registrable Securities as to
which registration has been requested under this Section 5.2, and the Shares, if any, as to which registration has been
requested pursuant to the written contractual piggy-back registration rights of other stockholders of the Company, exceeds the
Maximum Number of Shares, then the Company shall include in any such registration:

 

(a) If the registration is
undertaken for the Company’s account: (A) first, Shares or other securities that the Company desires to sell that can be sold without
exceeding the Maximum Number of Shares; (B) second, to the extent that the Maximum Number of Shares has not been reached under the foregoing
clause (A), the Shares or other securities, if any, comprised of Registrable Securities and Investor Securities, as to which registration
has been requested pursuant to the applicable written contractual piggy-back registration rights of such security holders, Pro Rata, that
can be sold without exceeding the Maximum Number of Shares; and (C) third, to the extent that the Maximum Number of shares has not been
reached under the foregoing clauses (A) and (B), the Shares or other securities for the account of other persons that the Company is obligated
to register pursuant to written contractual piggy-back registration rights with such persons and that can be sold without exceeding the
Maximum Number of Shares;

 

(b) If the registration is
a “demand” registration undertaken at the demand of holders of Investor Securities, (A) first, the Shares or other securities
for the account of the demanding persons, Pro Rata, that can be sold without exceeding the Maximum Number of Shares; (B) second, to the
extent that the Maximum Number of Shares has not been reached under the foregoing clause (A), the Shares or other securities that the
Company desires to sell that can be sold without exceeding the Maximum Number of Shares; (C) third, to the extent that the Maximum Number
of Shares has not been reached under the foregoing clauses (A) and (B), the shares of Registrable Securities, Pro Rata, as to which registration
has been requested pursuant to the terms hereof, that can be sold without exceeding the Maximum Number of Shares; and (D) fourth, to the
extent that the Maximum Number of Shares has not been reached under the foregoing clauses (A), (B) and (C), the Shares or other securities
for the account of other persons that the Company is obligated to register pursuant to written contractual arrangements with such persons,
that can be sold without exceeding the Maximum Number of Shares; and

 

(c) If the registration is
a “demand” registration undertaken at the demand of persons other than either the holders of Registrable Securities or of
Investor Securities, (A) first, the Shares or other securities for the account of the demanding persons that can be sold without exceeding
the Maximum Number of Shares; (B) second, to the extent that the Maximum Number of Shares has not been reached under the foregoing clause
(A), the Shares or other securities that the Company desires to sell that can be sold without exceeding the Maximum Number of Shares;
(C) third, to the extent that the Maximum Number of Shares has not been reached under the foregoing clauses (A) and (B), collectively
the Shares or other securities comprised of Registrable Securities and Investor Securities, Pro Rata, as to which registration has been
requested pursuant to the terms hereof and of the Registration Rights Agreement, as applicable, that can be sold without exceeding the
Maximum Number of Shares; and (D) fourth, to the extent that the Maximum Number of Shares has not been reached under the foregoing clauses
(A), (B) and (C), the Shares or other securities for the account of other persons that the Company is obligated to register pursuant to
written contractual arrangements with such persons, that can be sold without exceeding the Maximum Number of Shares.

 

5.2.3 Withdrawal.
Any holder of Registrable Securities may elect to withdraw such holder’s request for inclusion of Registrable Securities in any
Piggy-Back Registration by giving written notice to the Company of such request to withdraw prior to the effectiveness of the registration
statement. The Company (whether on its own determination or as the result of a withdrawal by persons making a demand pursuant to written
contractual obligations) may withdraw a registration statement at any time prior to the effectiveness of the registration statement. Notwithstanding
any such withdrawal, the Company shall pay all expenses incurred by the holders of Registrable Securities in connection with such Piggy-Back
Registration as provided in Section 5.2.4.

 

5.2.4 Terms. The
Company shall bear all fees and expenses attendant to registering the Registrable Securities, including the expenses of one legal counsel
selected by the Holders to represent them in connection with the sale of the Registrable Securities but the Holders shall pay any and
all underwriting commissions related to the Registrable Securities. In the event of such a proposed registration, the Company shall furnish
the then Holders of outstanding Registrable Securities with not less than fifteen days written notice prior to the proposed date of filing
of such registration statement. Such notice to the Holders shall continue to be given for each applicable registration statement filed
(during the period in which the Purchase Option is exercisable) by the Company until such time as all of the Registrable Securities have
been registered and sold. The Holders of the Registrable Securities shall exercise the “piggy-back” rights provided for herein
by giving written notice within ten days of the receipt of the Company’s notice of its intention to file a registration statement.
The Company shall use its best efforts to cause any registration statement filed pursuant to the above “piggyback” rights
to remain effective for at least nine months from the date that the Holders of the Registrable Securities are first given the opportunity
to sell all of such securities.

 

    5

     

    

 

5.3 General
Terms.

 

5.3.1 Indemnification.
The Company shall, to the fullest extent permitted by applicable law, indemnify the Holder(s) of the Registrable Securities to be
sold pursuant to any registration statement hereunder and each person, if any, who controls such Holders within the meaning of
Section 15 of the Act or Section 20(a) of the Securities Exchange Act of 1934, as amended (“Exchange
Act”), against all loss, claim, damage, expense or liability (including all reasonable attorneys’ fees and other
expenses reasonably incurred in investigating, preparing or defending against litigation, commenced or threatened, or any claim
whatsoever whether arising out of any action between the underwriter and the Company or between the underwriter and any third party
or otherwise) to which any of them may become subject under the Act, the Exchange Act or otherwise, arising from such registration
statement but only to the same extent and with the same effect as the provisions pursuant to which the Company has agreed to
indemnify the underwriters contained in Section 5 of the Underwriting Agreement between Pacifico and Chardan dated September 13,
2021 (“Underwriting Agreement”). The Holder(s) of the Registrable Securities to be sold pursuant to such
registration statement, and their successors and assigns, shall severally, and not jointly, indemnify the Company, its officers and
directors and each person, if any, who controls the Company within the meaning of Section 15 of the Act or Section 20(a) of the
Exchange Act, against all loss, claim, damage, expense or liability (including all reasonable attorneys’ fees and other
expenses reasonably incurred in investigating, preparing or defending against any claim whatsoever) to which they may become subject
under the Act, the Exchange Act or otherwise, arising from information furnished by or on behalf of such Holders, or their
successors or assigns, in writing, for specific inclusion in such registration statement or arising from any omission or the alleged
omission to state a material fact required to be stated therein or necessary to make the statement contained therein not misleading
in connection with the registration of the Registrable Securities, to the same extent and with the same effect as the provisions
contained in Section 5 of the Underwriting Agreement pursuant to which the underwriters have agreed to indemnify the Company.

 

5.3.2 Exercise of
Purchase Option. Nothing contained in this Purchase Option shall be construed as requiring the Holder(s) to exercise their
Purchase Option prior to or after the initial filing of any registration statement or the effectiveness thereof.

  

5.3.3 Documents
Delivered to Holders. The Company shall furnish Chardan, as representative of the Holders participating in any of the foregoing
offerings, a signed counterpart, addressed to the participating Holders, of (i) an opinion of counsel to the Company, dated the
effective date of such registration statement (and, if such registration includes an underwritten public offering, an opinion dated
the date of the closing under any underwriting agreement related thereto), and (ii) a “cold comfort” letter dated the
effective date of such registration statement (and, if such registration includes an underwritten public offering, a letter dated
the date of the closing under the underwriting agreement) signed by the independent public accountants who have issued a report on
the Company’s financial statements included in such registration statement, in each case covering substantially the same
matters with respect to such registration statement (and the prospectus included therein) and, in the case of such
accountants’ letter, with respect to events subsequent to the date of such financial statements, as are customarily covered in
opinions of issuer’s counsel and in accountants’ letters delivered to underwriters in underwritten public offerings of
securities. The Company shall also deliver promptly to Chardan, as representative of the Holders participating in the offering, the
correspondence and memoranda described below and copies of all correspondence between the Commission and the Company, its counsel or
auditors and all memoranda relating to discussions with the Commission or its staff with respect to the registration statement and
permit Chardan, as representative of the Holders, to do such investigation, upon reasonable advance notice, with respect to
information contained in or omitted from the registration statement as it deems reasonably necessary to comply with applicable
securities laws or rules of FINRA. Such investigation shall include access to books, records and properties and opportunities to
discuss the business of the Company with its officers and independent auditors, all to such reasonable extent and at such reasonable
times and as often as Chardan, as representative of the Holders, shall reasonably request. The Company shall not be required to
disclose any confidential information or other records to Chardan, as representative of the Holders, or to any other person, until
and unless such persons shall have entered into reasonable confidentiality agreements (in form and substance reasonably satisfactory
to the Company), with the Company with respect thereto.

 

5.3.4 Underwriting
Agreement. The Company shall enter into an underwriting agreement with the managing underwriter(s), if any, selected by any
Holders whose Registrable Securities are being registered pursuant to this Section 5, which managing underwriter shall be reasonably
acceptable to the Company. Such agreement shall be reasonably satisfactory in form and substance to the Company, each Holder and
such managing underwriters, and shall contain such representations, warranties and covenants by the Company and such other terms as
are customarily contained in agreements of that type used by the managing underwriter. The Holders shall be parties to any
underwriting agreement relating to an underwritten sale of their Registrable Securities and may, at their option, require that any
or all the representations, warranties and covenants of the Company to or for the benefit of such underwriters shall also be made to
and for the benefit of such Holders. Such Holders shall not be required to make any representations or warranties to or agreements
with the Company or the underwriters except as they may relate to such Holders and their intended methods of distribution. Such
Holders, however, shall agree to such covenants and indemnification and contribution obligations for selling stockholders as are
customarily contained in agreements of that type used by the managing underwriter. Further, such Holders shall execute appropriate
custody agreements and otherwise cooperate fully in the preparation of the registration statement and other documents relating to
any offering in which they include securities pursuant to this Section 5. Each Holder shall also furnish to the Company such
information regarding itself, the Registrable Securities held by it, and the intended method of disposition of such securities as
shall be reasonably required to effect the registration of the Registrable Securities.

 

    6

     

    

 

5.3.5 Rule 144
Sale. Notwithstanding anything contained in this Section 5 to the contrary, the Company shall have no
obligation pursuant to Sections 5.1 or 5.2 to use its best efforts to obtain the registration of
Registrable Securities held by any Holder (i) where such Holder would then be entitled to sell under Rule 144 within any three-month
period (or such other period prescribed under Rule 144 as may be provided by amendment thereof) all of the Registrable Securities
then held by such Holder, or (ii) where the number of Registrable Securities held by such Holder is within the volume limitations
under paragraph (e) of Rule 144 (calculated as if such Holder were an affiliate within the meaning of Rule 144).

 

5.3.6 Supplemental
Prospectus. Each Holder agrees, that upon receipt of any notice from the Company of the happening of any event as a result of
which the prospectus included in the registration statement, as then in effect, includes an untrue statement of a material fact or
omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of
the circumstances then existing, such Holder will immediately discontinue disposition of Registrable Securities pursuant to the
registration statement covering such Registrable Securities until such Holder’s receipt of the copies of a supplemental or
amended prospectus, and, if so desired by the Company, such Holder shall deliver to the Company (at the expense of the Company) or
destroy (and deliver to the Company a certificate of such destruction) all copies, other than permanent file copies then in such
Holder’s possession, of the prospectus covering such Registrable Securities current at the time of receipt of such notice.

  

6. ADJUSTMENTS.

 

6.1 Adjustments to
Exercise Price and Number of Securities. The Exercise Price and the number of Units underlying the Purchase Option shall be subject
to adjustment from time to time as hereinafter set forth:

 

6.1.1 Stock Dividends
- Split-Ups. If after the date hereof, and subject to the provisions of Section 6.3 below, the number of outstanding
Shares is increased by a stock dividend payable in Shares or by a split-up of Shares or other similar event, then, on the effective date
thereof, the number of Shares underlying each of the Units purchasable hereunder shall be increased in proportion to such increase in
outstanding shares.

 

6.1.2 Aggregation of
Shares. If after the date hereof, and subject to the provisions of Section 6.3, the number of outstanding Shares is decreased
by a consolidation, combination or reclassification of Shares or other similar event, then, on the effective date thereof, the number
of Shares underlying each of the Units purchasable hereunder shall be decreased in proportion to such decrease in outstanding shares and
the Exercise Price shall be proportionately increased.

 

6.1.3 Replacement of
Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding Shares other than a change
covered by Section 6.1.1 or 6.1.2 hereof or that solely affects the par value of such Shares, or in
the case of any merger or consolidation of the Company with or into another company (other than a consolidation or merger in which the
Company is the continuing entity and that does not result in any reclassification or reorganization of the outstanding Shares), or in
the case of any sale or conveyance to another company or entity of the property of the Company as an entirety or substantially as an entirety
in connection with which the Company is dissolved, the Holder of this Purchase Option shall have the right thereafter (until the expiration
of the right of exercise of this Purchase Option) to receive upon the exercise hereof, for the same aggregate Exercise Price payable hereunder
immediately prior to such event, the kind and amount of shares or other securities or property (including cash) receivable upon such reclassification,
reorganization, merger or consolidation, or upon a dissolution following any such sale or transfer, by a Holder of the number of Shares
of the Company obtainable upon exercise of this Purchase Option immediately prior to such event; and if any reclassification also results
in a change in Shares covered by Section 6.1.1 or 6.1.2, then such adjustment shall be made pursuant to Sections
6.1.1, 6.1.2 and this Section 6.1.3. The provisions of this Section 6.1.3 shall similarly
apply to successive reclassifications, reorganizations, mergers or consolidations, sales or other transfers.

 

6.1.4 Changes in Form
of Purchase Option. This form of Purchase Option need not be changed because of any change pursuant to this Section, and a Purchase
Option issued after such change may state the same Exercise Price and the same number of Units as are stated in the Purchase Option as
initially issued. The acceptance by any Holder of the issuance of a new Purchase Option reflecting a required or permissive change shall
not be deemed to waive any rights to an adjustment occurring after the Commencement Date or the computation thereof.

 

    7

     

    

 

6.2 Substitute
Purchase Option. In case of any consolidation of the Company with, or merger of the Company with, or merger of the Company into,
another entity (other than a consolidation or merger which does not result in any reclassification or change of the outstanding
Shares), the entity formed by such consolidation or merger shall execute and deliver to the Holder a supplemental Purchase Option
providing that the holder of each Purchase Option then outstanding or to be outstanding shall have the right thereafter (until the
stated expiration of such Purchase Option) to receive, upon exercise of such Purchase Option, the kind and amount of shares and
other securities and property receivable upon such consolidation or merger, by a holder of the number of Shares of the Company for
which such Purchase Option might have been exercised immediately prior to such consolidation, merger, sale or transfer. Such
supplemental Purchase Option shall provide for adjustments which shall be identical to the adjustments provided in Section
6. The above provision of this Section shall similarly apply to successive consolidations or mergers.

 

6.3 Elimination of
Fractional Interests. The Company shall not be required to issue certificates representing fractions of Shares or Rights upon the
exercise of the Purchase Option, nor shall it be required to issue scrip or pay cash in lieu of any fractional interests, it being the
intent of the parties that all fractional interests shall be eliminated by rounding any fraction up to the nearest whole number of Rights,
Shares or other securities, properties or rights (or as otherwise provided pursuant to the Rights Agreement).

 

7. RESERVATION
AND LISTING. The Company shall at all times reserve and keep available out of its authorized but unissued Shares,
solely for the purpose of issuance upon exercise of the Purchase Option or the Rights underlying the Purchase Option, such number of
Shares or other securities, properties or rights as shall be issuable upon the exercise thereof. The Company covenants and agrees
that, upon exercise of the Purchase Option and payment of the Exercise Price therefor, all Shares and other securities issuable upon
such exercise shall be duly and validly issued, fully paid and non-assessable and not subject to preemptive rights of any
stockholder. The Company further covenants and agrees that upon conversion of the Rights underlying the Purchase Option, all Shares
and other securities issuable upon such conversion shall be duly and validly issued, fully paid and non-assessable and not subject
to preemptive rights of any stockholders. As long as the Purchase Option shall be outstanding, the Company shall use its best
efforts to cause all (i) Units and Shares issuable upon exercise of the Purchase Option, (ii) Rights issuable upon exercise of the
Purchase Option and (iii) Shares underlying the Rights included in the Units issuable upon exercise of the Purchase Option to be
listed and/or quoted (subject to official notice of issuance) on all securities exchanges (or, if applicable, on the OTC Bulletin
Board or OTC Markets Group, Inc. or any successor trading market) on which the Units, Shares, or Rights may then be listed and/or
quoted.

 

8. CERTAIN NOTICE REQUIREMENTS.

 

8.1 Holder’s
Right to Receive Notice. Nothing herein shall be construed as conferring upon the Holders the right to vote or consent as a stockholders
for the election of directors or any other matter, or as having any rights whatsoever as a stockholders of the Company. If, however, at
any time prior to the expiration of the Purchase Option and its exercise, any of the events described in Section 8.2 shall
occur, then, in each such event, the Company shall give written notice of such event at least fifteen days prior to the date fixed as
a record date or the date of closing the transfer books for the determination of the stockholders entitled to such dividend, distribution,
conversion or exchange of securities or subscription rights, or entitled to vote on such proposed dissolution, liquidation, winding up
or sale. Such notice shall specify such record date or the date of the closing of the transfer books, as the case may be. Notwithstanding
the foregoing, the Company shall deliver to each Holder a copy of each notice given to the other stockholders of the Company at the same
time and in the same manner that such notice is given to the stockholders.

 

8.2 Events Requiring
Notice. The Company shall be required to give the notice described in this Section 8 upon one or more of the following events: (i)
if the Company shall take a record of the holders of its Shares for the purpose of entitling them to receive a dividend or distribution
payable otherwise than in cash, or a cash dividend or distribution payable otherwise than out of retained earnings, as indicated by the
accounting treatment of such dividend or distribution on the books of the Company, or (ii) the Company shall offer to all the holders
of its Shares any additional shares of capital stock of the Company or securities convertible into or exchangeable for shares of capital
stock of the Company, or any option, right or warrant to subscribe therefor, or (iii) a dissolution, liquidation or winding up of the
Company (other than in connection with a consolidation or merger) or a sale of all or substantially all of its property, assets and business
shall be proposed.

 

8.3 Notice of Change
in Exercise Price. The Company shall, promptly after an event requiring a change in the Exercise Price pursuant to Section 6 hereof,
send notice to the Holders of such event and change (“Price Notice”). The Price Notice shall describe the event
causing the change and the method of calculating same and shall be certified as being true and accurate by the Company’s Chief Executive
Officer.

 

8.4 Transmittal of
Notices. All notices, requests, consents and other communications under this Purchase Option shall be in writing and shall be deemed
to have been duly made when hand delivered, or mailed by express mail or private courier service: (i) if to the registered Holder of the
Purchase Option, to the address of such Holder as shown on the books of the Company, or (ii) if to the Company, to the following address
or to such other address as the Company may designate by notice to the Holders:

 

Caravelle International Group

c/o Caravelle Group Co., Ltd.

P. O. Box 31119

Grand Pavilion, Hibiscus Way,

802 West Bay Road

Grand Cayman

KYI – 1205 Cayman Islands

Attention: Guohua Zhang

Email: zgh@caravelleglobal.com.cn

 

    8

     

    

 

9. MISCELLANEOUS.

 

9.1 Amendment The
Company and Chardan may from time to time supplement or amend this Purchase Option without the approval of any of the Holders in
order to cure any ambiguity, to correct or supplement any provision contained herein that may be defective or inconsistent with any
other provisions herein, or to make any other provisions in regard to matters or questions arising hereunder that the Company and
Chardan may deem necessary or desirable and that the Company and Chardan deem shall not adversely affect the interest of the
Holders. All other modifications or amendments shall require the written consent of and be signed by the party against whom
enforcement of the modification or amendment is sought.

 

9.2 Headings.
The headings contained herein are for the sole purpose of convenience of reference, and shall not in any way limit or affect the meaning
or interpretation of any of the terms or provisions of this Purchase Option.

 

9.3 Entire
Agreement. This Purchase Option (together with the other agreements and documents being delivered pursuant to or in connection
with this Purchase Option) constitutes the entire agreement of the parties hereto with respect to the subject matter hereof, and
supersedes all prior agreements and understandings of the parties, oral and written, with respect to the subject matter hereof.

 

9.4 Binding
Effect. This Purchase Option shall inure solely to the benefit of and shall be binding upon the Holder and the Company and their
permitted assignees, respective successors, legal representative and assigns, and no other person shall have or be construed to have
any legal or equitable right, remedy or claim under or in respect of or by virtue of this Purchase Option or any provisions herein
contained.

 

9.5 Governing Law;
Submission to Jurisdiction. This Purchase Option shall be governed by and construed and enforced in accordance with the laws of the
State of New York, without giving effect to conflict of laws principles thereof. Each of the Holder and the Company hereby agrees that
any action, proceeding or claim against it arising out of, or relating in any way to this Purchase Option shall be brought and enforced
in the New York Supreme Court, County of New York, or in the United States District Court for the Southern District of New York, and irrevocably
submits to such jurisdiction, which jurisdiction shall be exclusive. Each of the Holder and the Company hereby waives any objection to
such exclusive jurisdiction and that such courts represent an inconvenient forum. Any process or summons to be served upon the Company
may be served by transmitting a copy thereof by registered or certified mail, return receipt requested, postage prepaid, addressed to
it at the address set forth in Section 8.4 hereof. Such mailing shall be deemed personal service and shall be legal and binding
upon the Company in any action, proceeding or claim. The Company and the Holder agree that the prevailing party(ies) in any such action
shall be entitled to recover from the other party(ies) all of its reasonable attorneys’ fees and expenses relating to such action
or proceeding and/or incurred in connection with the preparation therefore.

 

9.6 Waiver, Etc.
The failure of the Company or the Holder to at any time enforce any of the provisions of this Purchase Option shall not be deemed or construed
to be a waiver of any such provision, nor to in any way affect the validity of this Purchase Option or any provision hereof or the right
of the Company or any Holder to thereafter enforce each and every provision of this Purchase Option. No waiver of any breach, non-compliance
or non-fulfillment of any of the provisions of this Purchase Option shall be effective unless set forth in a written instrument executed
by the party or parties against whom or which enforcement of such waiver is sought; and no waiver of any such breach, non-compliance or
non- fulfillment shall be construed or deemed to be a waiver of any other or subsequent breach or non-compliance.

 

9.7 Execution in
Counterparts. This Purchase Option may be executed in one or more counterparts, and by the different parties hereto in separate
counterparts, each of which shall be deemed to be an original, but all of which taken together shall constitute one and the same
agreement, and shall become effective when one or more counterparts has been signed by each of the parties hereto and delivered to
each of the other parties hereto.

 

9.8 Exchange
Agreement. As a condition of the Holder’s receipt and acceptance of this Purchase Option, Holder agrees that, at any time
prior to the complete exercise of this Purchase Option by Holder, if the Company and Chardan enter into an agreement
(“Exchange Agreement”) pursuant to which they agree that all outstanding Purchase Options will be
exchanged for securities or cash or a combination of both, then Holder shall agree to such exchange and become a party to the
Exchange Agreement.

 

    9

     

    

 

 

IN WITNESS WHEREOF, the Company
has caused this Purchase Option to be signed by its duly authorized officer as of the ___ day of _______, 2022.

 

	 	CARAVELLE INTERNATIONAL GROUP
	 	 
	 	By:	 
	 	 	Name: 	Guohua Zhang
	 	 	Title:	Chief Executive Officer

 

Signature Page to Purchase Option

 

    10

     

    

 

Form to be used to exercise Purchase Option

 

Caravelle International Group

c/o Caravelle Group Co., Ltd.

P. O. Box 31119

Grand Pavilion, Hibiscus Way,

802 West Bay Road

Grand Cayman

KYI – 1205 Cayman Islands

 

Date:_________________, 20___

 

The undersigned hereby elects irrevocably to exercise
all or a portion of the within Purchase Option and to purchase ____ Units of Caravelle International Group and hereby makes payment of
$____________ (at the rate of $_________ per Unit) in payment of the Exercise Price pursuant thereto. Please issue the securities as to
which this Purchase Option is exercised in accordance with the instructions given below.

 

Or

 

The undersigned hereby elects irrevocably to convert
its right to purchase _________ Units purchasable under the within Purchase Option by surrender of the unexercised portion of the attached
Purchase Option (with a “Value” based of $_______ based on a “Market Price” of $_______). Please issue the securities
comprising the Units as to which this Purchase Option is exercised in accordance with the instructions given below.

 

NOTICE: The signature to this assignment must
correspond with the name as written upon the face of the purchase option in every particular, without alteration or enlargement or any
change whatever

Signature(s) Guaranteed:

 

THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE
GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE
MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15).

 

    11

     

    

 

INSTRUCTIONS FOR REGISTRATION OF SECURITIES

Name

 

	 
	(Print in Block Letters)
	Address

 

	 

 

    12

     

    

 

Form to be used to assign Purchase Option:

 

ASSIGNMENT

 

(To be executed by the registered Holder to effect
a transfer of the within Purchase Option):

 

FOR VALUE RECEIVED,______________________________________________ does hereby sell, assign and transfer unto___________________________________________
the right to purchase __________ Units of Caravelle International Group (“Company”) evidenced by the within
Purchase Option and does hereby authorize the Company to transfer such right on the books of the Company.

 

Dated:___________________, 20___

 

	 	 
	 	Signature

 

	 	 
	 	NOTICE: The signature to this assignment must correspond with the name as written upon the face of the purchase option in every particular, without alteration or enlargement or any change whatever.

 

Signature(s) Guaranteed:

	 

THE SIGNATURE(S) SHOULD BE
GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP
IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15).

 

 

13

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