Document:

Exhibit
10.11

 

INDEMNITY
AGREEMENT

 

THIS
INDEMNITY AGREEMENT (this “Agreement”) is made as of June 9, 2021, by and between STRATIM CLOUD ACQUISITION
CORP., a Delaware corporation (the “Company”), and Kabir Misra (“Indemnitee”).

 

RECITALS

 

WHEREAS,
highly competent persons have become more reluctant to serve publicly-held corporations as directors, officers or in other capacities
unless they are provided with adequate protection through insurance or adequate indemnification against inordinate risks of claims and
actions against them arising out of their service to and activities on behalf of such corporations;

 

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

 

WHEREAS,
the uncertainties relating to such insurance and to indemnification have increased the difficulty of attracting and retaining such persons;

 

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

 

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

 

WHEREAS,
this Agreement is a supplement to and in furtherance of the Charter and the Bylaws of the Company and any resolutions adopted pursuant
thereto, and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder;

 

WHEREAS,
Indemnitee may not be willing to serve as an officer or director, advisor or in another capacity without adequate protection, and the
Company desires Indemnitee to serve in such capacity. Indemnitee is willing to serve, continue to serve and to take on additional service
for or on behalf of the Company on the condition that Indemnitee be so indemnified; and

 

NOW,
THEREFORE, in consideration of the premises and the covenants contained herein and subject to the provisions of the letter agreement
dated as of March 11, 2021 among the Company, Indemnitee and the other parties thereto pursuant to the Underwriting Agreement between
the Company and the representatives of the underwriters named therein in connection with the Company’s initial public offering,
the Company and Indemnitee do hereby covenant and agree as follows:

 

     

     

    

 

TERMS
AND CONDITIONS

 

1.
SERVICES TO THE COMPANY. In consideration of the Company’s covenants and obligations hereunder, Indemnitee will serve or continue
to serve as an officer, director, advisor, key employee or in any other capacity of the Company, as applicable, for so long as Indemnitee
is duly elected, appointed or retained or until Indemnitee tenders Indemnitee’s resignation or until Indemnitee is removed. The
foregoing notwithstanding, this Agreement shall continue in full force and effect after Indemnitee has ceased to serve as a director,
officer, advisor, key employee or in any other capacity of the Company, as provided in Section 17. This Agreement, however,
shall not impose any obligation on Indemnitee or the Company to continue Indemnitee’s service to the Company beyond any period
otherwise required by law or by other agreements or commitments of the parties, if any.

 

2.
DEFINITIONS. As used in this Agreement:

 

2.1
References to “agent” shall mean any person who is or was a director, officer or employee of the Company or
a subsidiary of the Company or other person authorized by the Company to act for the Company, to include such person serving in such
capacity as a director, officer, employee, advisor, fiduciary or other official of another corporation, partnership, limited liability
company, joint venture, trust or other enterprise at the request of, for the convenience of, or to represent the interests of the Company
or a subsidiary of the Company.

 

2.2
The terms “Beneficial Owner” and “Beneficial Ownership” shall have the meanings set
forth in Rule 13d-3 promulgated under the Exchange Act (as defined below) as in effect on the date hereof.

 

2.3
A “Change in Control” shall be deemed to occur upon the earliest to occur after the date of this Agreement
of any of the following events:

 

2.3.1
Acquisition of Stock by Third Party. Other than an affiliate of Stratim Cloud Acquisition, LLC, any other Person (as defined below)
is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company representing fifteen percent (15%) or more
of the combined voting power of the Company’s then outstanding securities entitled to vote generally in the election of directors,
unless (1) the change in the relative Beneficial Ownership of the Company’s securities by any Person results solely from a
reduction in the aggregate number of outstanding shares of securities entitled to vote generally in the election of directors, or (2) such
acquisition was approved in advance by the Continuing Directors (as defined below) and such acquisition would not constitute a Change
in Control under part 2.3.3 of this definition;

 

2.3.2
Change in Board of Directors. Individuals who, as of the date hereof, constitute the Board, and any new director whose election
by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds of the directors
then still in office who were directors on the date hereof or whose election or nomination for election was previously so approved (collectively,
the “Continuing Directors”), cease for any reason to constitute at least a majority of the members of the Board;

 

2.3.3
Corporate Transactions. The effective date of a merger, capital stock exchange, asset acquisition, stock purchase, reorganization
or similar business combination, involving the Company and one or more businesses (a “Business Combination”),
in each case, unless, following such Business Combination: (1) all or substantially all of the individuals and entities who were
the Beneficial Owners of securities entitled to vote generally in the election of directors immediately prior to such Business Combination
beneficially own, directly or indirectly, more than 50% of the combined voting power of the then outstanding securities of the Company
entitled to vote generally in the election of directors resulting from such Business Combination (including, without limitation, a corporation
which as a result of such transaction owns the Company or all or substantially all of the Company’s assets either directly or through
one or more Subsidiaries (as defined below)) in substantially the same proportions as their ownership immediately prior to such Business
Combination, of the securities entitled to vote generally in the election of directors; (2) other than an affiliate of Stratim Cloud
Acquisition, LLC, no Person (excluding any corporation resulting from such Business Combination) is the Beneficial Owner, directly or
indirectly, of 15% or more of the combined voting power of the then outstanding securities entitled to vote generally in the election
of directors of the surviving corporation except to the extent that such ownership existed prior to the Business Combination; and (3) at
least a majority of the Board of Directors of the corporation resulting from such Business Combination were Continuing Directors at the
time of the execution of the initial agreement, or of the action of the Board of Directors, providing for such Business Combination;

 

    2

     

    

 

2.3.4
Liquidation. The approval by the stockholders of the Company of a complete liquidation of the Company or an agreement or series
of agreements for the sale or disposition by the Company of all or substantially all of the Company’s assets, other than factoring
the Company’s current receivables or escrows due (or, if such approval is not required, the decision by the Board to proceed with
such a liquidation, sale, or disposition in one transaction or a series of related transactions); or

 

2.3.5
Other Events. There occurs any other event of a nature that would be required to be reported in response to Item 6(e) of
Schedule 14A of Regulation 14A (or any successor rule) (or a response to any similar item on any similar schedule or form) promulgated
under the Exchange Act (as defined below), whether or not the Company is then subject to such reporting requirement.

 

2.4
“Corporate Status” describes the status of a person who is or was a director, officer, trustee, general partner,
manager, managing member, fiduciary, employee or agent of the Company or of any other Enterprise (as defined below) which such person
is or was serving at the request of the Company.

 

2.5
“Delaware Court” shall mean the Court of Chancery of the State of Delaware.

 

2.6
“Disinterested Director” shall mean a director of the Company who is not and was not a party to the Proceeding
(as defined below) in respect of which indemnification is sought by Indemnitee.

 

2.7
“Enterprise” shall mean the Company and any other corporation, constituent corporation (including any constituent
of a constituent) absorbed in a consolidation or merger to which the Company (or any of its wholly owned subsidiaries) is a party, limited
liability company, partnership, joint venture, trust, employee benefit plan or other enterprise of which Indemnitee is or was serving
at the request of the Company as a director, officer, trustee, general partner, manager, managing member, fiduciary, employee or agent.

 

2.8
“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended.

 

2.9
“Expenses” shall include all direct and indirect costs, fees and expenses of any type or nature whatsoever,
including, without limitation, all reasonable attorneys’ fees and costs, retainers, court costs, transcript costs, fees of experts,
witness fees, travel expenses, fees of private investigators and professional advisors, duplicating costs, printing and binding costs,
telephone charges, postage, delivery service fees, fax transmission charges, secretarial services and all other disbursements, obligations
or expenses in connection with prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing to be a witness
in, settlement or appeal of, or otherwise participating in, a Proceeding (as defined below), including reasonable compensation for time
spent by Indemnitee for which he or she is not otherwise compensated by the Company or any third party. Expenses also shall include Expenses
incurred in connection with any appeal resulting from any Proceeding, including without limitation the principal, premium, security for,
and other costs relating to any cost bond, supersedeas bond, or other appeal bond or its equivalent. Expenses, however, shall not include
amounts paid in settlement by Indemnitee or the amount of judgments or fines against Indemnitee.

 

2.10
“Independent Counsel” shall mean a law firm or a member of a law firm with significant experience in matters
of corporate law and that neither presently is, nor in the past five years has been, retained to represent: (i) the Company or Indemnitee
in any matter material to either such party (other than with respect to matters concerning Indemnitee under this Agreement, or of other
indemnitees under similar indemnification agreements); or (ii) any other party to the Proceeding giving rise to a claim for indemnification
hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not include any person who,
under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the
Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement.

 

2.11
References to “fines” shall include any excise tax assessed on Indemnitee with respect to any employee benefit
plan; references to “serving at the request of the Company” shall include any service as a director, officer, employee, agent
or fiduciary of the Company which imposes duties on, or involves services by, such director, officer, employee, agent or fiduciary with
respect to an employee benefit plan, its participants or beneficiaries; and if Indemnitee acted in good faith and in a manner Indemnitee
reasonably believed to be in the best interests of the participants and beneficiaries of an employee benefit plan, Indemnitee shall be
deemed to have acted in a manner “not opposed to the best interests of the Company” as referred to in this Agreement.

 

    3

     

    

 

2.12
The term “Person” shall have the meaning as set forth in Sections 13(d) and 14(d) of the Exchange Act as in
effect on the date hereof; provided, however, that “Person” shall exclude: (i) the Company; (ii) any Subsidiaries
(as defined below) of the Company; (iii) any employment benefit plan of the Company or of a Subsidiary of the Company or of any
corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership
of stock of the Company; and (iv) any trustee or other fiduciary holding securities under an employee benefit plan of the Company
or of a Subsidiary of the Company or of a corporation owned directly or indirectly by the stockholders of the Company in substantially
the same proportions as their ownership of stock of the Company.

 

2.13
The term “Proceeding” shall include any threatened, pending or completed action, suit, arbitration, mediation,
alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding,
whether brought in the right of the Company or otherwise and whether of a civil (including intentional or unintentional tort claims),
criminal, administrative or investigative or related nature, in which Indemnitee was, is, will or might be involved as a party or otherwise
by reason of the fact that Indemnitee is or was a director or officer of the Company, by reason of any action (or failure to act) taken
by Indemnitee or of any action (or failure to act) on Indemnitee’s part while acting as a director or officer of the Company, or
by reason of the fact that Indemnitee is or was serving at the request of the Company as a director, officer, trustee, general partner,
manager, managing member, fiduciary, employee or agent of any other Enterprise, in each case whether or not serving in such capacity
at the time any liability or expense is incurred for which indemnification, reimbursement, or advancement of expenses can be provided
under this Agreement.

 

2.14
The term “Subsidiary,” with respect to any Person, shall mean any corporation, limited liability company, partnership,
joint venture, trust or other entity of which a majority of the voting power of the voting equity securities or equity interest is owned,
directly or indirectly, by that Person.

 

3.
INDEMNITY IN THIRD-PARTY PROCEEDINGS.

 

To
the fullest extent permitted by applicable law, the Company shall indemnify, hold harmless and exonerate Indemnitee in accordance with
the provisions of this Section 3 if Indemnitee was, is, or is threatened to be made, a party to or a participant (as a witness,
deponent or otherwise) in any Proceeding, other than a Proceeding by or in the right of the Company to procure a judgment in its favor
by reason of Indemnitee’s Corporate Status. Pursuant to this Section 3, Indemnitee shall be indemnified, held harmless
and exonerated against all Expenses, judgments, liabilities, fines, penalties and amounts paid in settlement (including all interest,
assessments and other charges paid or payable in connection with or in respect of such Expenses, judgments, fines, penalties and amounts
paid in settlement) actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with such Proceeding
or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not
opposed to the best interests of the Company and, in the case of a criminal Proceeding, had no reasonable cause to believe that Indemnitee’s
conduct was unlawful.

 

4.
INDEMNITY IN PROCEEDINGS BY OR IN THE RIGHT OF THE COMPANY.

 

To
the fullest extent permitted by applicable law, the Company shall indemnify, hold harmless and exonerate Indemnitee in accordance with
the provisions of this Section 4 if Indemnitee was, is, or is threatened to be made, a party to or a participant (as a witness,
deponent or otherwise) in any Proceeding by or in the right of the Company to procure a judgment in its favor by reason of Indemnitee’s
Corporate Status. Pursuant to this Section 4, Indemnitee shall be indemnified, held harmless and exonerated against all Expenses
actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with such Proceeding or any claim, issue
or matter therein, if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best
interests of the Company. No indemnification, hold harmless or exoneration for Expenses shall be made under this Section 4
in respect of any claim, issue or matter as to which Indemnitee shall have been finally adjudged by a court to be liable to the Company,
unless and only to the extent that any court in which the Proceeding was brought or the Delaware Court shall determine upon application
that, despite the adjudication of liability but in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled
to indemnification, to be held harmless or to exoneration.

 

    4

     

    

 

5.
INDEMNIFICATION FOR EXPENSES OF A PARTY WHO IS WHOLLY OR PARTLY SUCCESSFUL.

 

Notwithstanding
any other provisions of this Agreement except for Section 27, to the extent that Indemnitee was or is, by reason of Indemnitee’s
Corporate Status, a party to (or a participant in) and is successful, on the merits or otherwise, in any Proceeding or in defense of
any claim, issue or matter therein, in whole or in part, the Company shall, to the fullest extent permitted by applicable law, indemnify,
hold harmless and exonerate Indemnitee against all Expenses actually and reasonably incurred by Indemnitee in connection therewith. If
Indemnitee is not wholly successful in such Proceeding but is successful, on the merits or otherwise, as to one or more but less than
all claims, issues or matters in such Proceeding, the Company shall, to the fullest extent permitted by applicable law, indemnify, hold
harmless and exonerate Indemnitee against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf
in connection with each successfully resolved claim, issue or matter. If Indemnitee is not wholly successful in such Proceeding, the
Company also shall, to the fullest extent permitted by applicable law, indemnify, hold harmless and exonerate Indemnitee against all
Expenses reasonably incurred in connection with a claim, issue or matter related to any claim, issue, or matter on which Indemnitee was
successful. For purposes of this Section 5 and without limitation, the termination of any claim, issue or matter in such
a Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter.

 

6.
INDEMNIFICATION FOR EXPENSES OF A WITNESS.

 

Notwithstanding
any other provision of this Agreement except for Section 27, to the extent that Indemnitee is, by reason of Indemnitee’s
Corporate Status, a witness or deponent in any Proceeding to which Indemnitee was or is not a party or threatened to be made a party,
Indemnitee shall, to the fullest extent permitted by applicable law, be indemnified, held harmless and exonerated against all Expenses
actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection therewith.

 

7.
ADDITIONAL INDEMNIFICATION, HOLD HARMLESS AND EXONERATION RIGHTS.

 

7.1
Notwithstanding any limitation in Sections 3, 4, or 5, and subject to Section 27, the Company shall,
to the fullest extent permitted by applicable law, indemnify, hold harmless and exonerate Indemnitee if Indemnitee is a party to or threatened
to be made a party to any Proceeding (including a Proceeding by or in the right of the Company to procure a judgment in its favor) against
all Expenses, judgments, fines, penalties and amounts paid in settlement (including all interest, assessments and other charges paid
or payable in connection with or in respect of such Expenses, judgments, fines, penalties and amounts paid in settlement) actually and
reasonably incurred by Indemnitee in connection with the Proceeding. No indemnification, hold harmless or exoneration rights shall be
available under this Section 7.1 on account of Indemnitee’s conduct which constitutes a breach of Indemnitee’s
duty of loyalty to the Company or its stockholders or is an act or omission not in good faith or which involves intentional misconduct
or a knowing violation of applicable law.

 

7.2
Notwithstanding any limitation in Sections 3, 4, 5 or 7.1, and subject to Section 27, the
Company shall, to the fullest extent permitted by applicable law, indemnify, hold harmless and exonerate Indemnitee if Indemnitee is
a party to or threatened to be made a party to any Proceeding (including a Proceeding by or in the right of the Company to procure a
judgment in its favor) against all Expenses, judgments, fines, penalties and amounts paid in settlement (including all interest, assessments
and other charges paid or payable in connection with or in respect of such Expenses, judgments, fines, penalties and amounts paid in
settlement) actually and reasonably incurred by Indemnitee in connection with the Proceeding.

 

8.
CONTRIBUTION IN THE EVENT OF JOINT LIABILITY.

 

8.1
To the fullest extent permissible under applicable law, if the indemnification, hold harmless and/or exoneration rights provided for
in this Agreement are unavailable to Indemnitee in whole or in part for any reason whatsoever, the Company, in lieu of indemnifying,
holding harmless or exonerating Indemnitee, shall pay, in the first instance, the entire amount incurred by Indemnitee, whether for judgments,
liabilities, fines, penalties, amounts paid or to be paid in settlement and/or for Expenses, in connection with any Proceeding without
requiring Indemnitee to contribute to such payment, and the Company hereby waives and relinquishes any right of contribution it may have
at any time against Indemnitee.

 

    5

     

    

 

8.2
The Company shall not enter into any settlement of any Proceeding in which the Company is jointly liable with Indemnitee (or would be
if joined in such Proceeding) unless such settlement provides for a full and final release of all claims asserted against Indemnitee.

 

8.3
The Company hereby agrees to fully indemnify, hold harmless and exonerate Indemnitee from any claims for contribution which may be brought
by officers, directors or employees of the Company other than Indemnitee who may be jointly liable with Indemnitee.

 

9.
EXCLUSIONS.

 

Notwithstanding
any provision in this Agreement, the Company shall not be obligated under this Agreement to make any indemnification, advance expenses,
hold harmless or exoneration payment in connection with any claim made against Indemnitee:

 

(a)
for which payment has actually been received by or on behalf of Indemnitee under any insurance policy or other indemnity or advancement
provision and which payment has not subsequently been returned, except with respect to any excess beyond the amount actually received
under any insurance policy, contract, agreement, other indemnity or advancement provision or otherwise;

 

(b)
for an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company within
the meaning of Section 16(b) of the Exchange Act (or any successor rule) or similar provisions of state statutory law or
common law; or

 

(c)
except as otherwise provided in Sections 14.5 and 14.6 hereof, prior to a Change in Control, in connection with any
Proceeding (or any part of any Proceeding) initiated by Indemnitee, including any Proceeding (or any part of any Proceeding) initiated
by Indemnitee against the Company or its directors, officers, employees or other indemnitees, unless (i) the Board authorized the
Proceeding (or any part of any Proceeding) prior to its initiation or (ii) the Company provides the indemnification, hold harmless
or exoneration payment, in its sole discretion, pursuant to the powers vested in the Company under applicable law. Indemnitee shall seek
payments or advances from the Company only to the extent that such payments or advances are unavailable from any insurance policy of
the Company covering Indemnitee.

 

10.
ADVANCES OF EXPENSES; DEFENSE OF CLAIM.

 

10.1
Notwithstanding any provision of this Agreement to the contrary except for Section 27, and to the fullest extent not prohibited
by applicable law, the Company shall pay the Expenses incurred by Indemnitee (or reasonably expected by Indemnitee to be incurred by
Indemnitee within three months) in connection with any Proceeding within ten (10) days after the receipt by the Company of a statement
or statements requesting such advances from time to time, prior to the final disposition of any Proceeding. Advances shall, to the fullest
extent permitted by law, be unsecured and interest free. Advances shall, to the fullest extent permitted by law, be made without regard
to Indemnitee’s ability to repay the Expenses and without regard to Indemnitee’s ultimate entitlement to be indemnified,
held harmless or exonerated under the other provisions of this Agreement. Advances shall include any and all reasonable Expenses incurred
pursuing a Proceeding to enforce this right of advancement, including Expenses incurred preparing and forwarding statements to the Company
to support the advances claimed. To the fullest extent required by applicable law, such payments of Expenses in advance of the final
disposition of the Proceeding shall be made only upon the Company’s receipt of an undertaking, by or on behalf of Indemnitee, to
repay the advanced amounts to the extent that it is ultimately determined that Indemnitee is not entitled to be indemnified, held harmless
or exonerated by the Company under the provisions of this Agreement, the Charter and the Bylaws of the Company, applicable law or otherwise.
This Section 10.1 shall not apply to any claim made by Indemnitee for which an indemnification, hold harmless or exoneration
payment is excluded pursuant to Section 9.

 

10.2
The Company will be entitled to participate in the Proceeding at its own expense.

 

10.3
The Company shall not settle any action, claim or Proceeding (in whole or in part) which would impose any Expense, judgment, fine, penalty
or limitation on Indemnitee without Indemnitee’s prior written consent.

 

    6

     

    

 

11.
PROCEDURE FOR NOTIFICATION AND APPLICATION FOR INDEMNIFICATION.

 

11.1
Indemnitee agrees to notify promptly the Company in writing upon being served with any summons, citation, subpoena, complaint, indictment,
information or other document relating to any Proceeding, claim, issue or matter therein which may be subject to indemnification, hold
harmless or exoneration rights, or advancement of Expenses covered hereunder. The failure of Indemnitee to so notify the Company shall
not relieve the Company of any obligation which it may have to Indemnitee under this Agreement, or otherwise.

 

11.2
Indemnitee may deliver to the Company a written application to indemnify, hold harmless or exonerate Indemnitee in accordance with this
Agreement. Such application(s) may be delivered from time to time and at such time(s) as Indemnitee deems appropriate in his or her sole
discretion. Following such a written application for indemnification by Indemnitee, Indemnitee’s entitlement to indemnification
shall be determined according to Section 12.1 of this Agreement.

 

12.
PROCEDURE UPON APPLICATION FOR INDEMNIFICATION.

 

12.1
A determination, if required by applicable law, with respect to Indemnitee’s entitlement to indemnification shall be made in the
specific case by one of the following methods, which shall be at the election of Indemnitee: (i) by a majority vote of the Disinterested
Directors, even though less than a quorum of the Board, (ii) by a committee of such directors designated by a majority vote of such
directors, even though less than a quorum, (iii) if there are no Disinterested Directors or if such directors so direct, by Independent
Counsel in a written opinion to the Board, a copy of which shall be delivered to Indemnitee, or (iv) by vote of the stockholders.
The Company promptly will advise Indemnitee in writing with respect to any determination that Indemnitee is or is not entitled to indemnification,
including a description of any reason or basis for which indemnification has been denied. If it is so determined that Indemnitee is entitled
to indemnification, payment to Indemnitee shall be made within ten (10) days after such determination. Indemnitee shall reasonably
cooperate with the person, persons or entity making such determination with respect to Indemnitee’s entitlement to indemnification,
including providing to such person, persons or entity upon reasonable advance request any documentation or information which is not privileged
or otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary to such determination.
Any costs or Expenses (including reasonable attorneys’ fees and disbursements) incurred by Indemnitee in so cooperating with the
person, persons or entity making such determination shall be borne by the Company (irrespective of the determination as to Indemnitee’s
entitlement to indemnification) and the Company hereby indemnifies and agrees to hold Indemnitee harmless therefrom.

 

12.2
In the event the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 12.1
hereof, the Independent Counsel shall be selected as provided in this Section 12.2. The Independent Counsel shall be
selected by Indemnitee (unless Indemnitee shall request that such selection be made by the Board), and Indemnitee shall give written
notice to the Company advising it of the identity of the Independent Counsel so selected and certifying that the Independent Counsel
so selected meets the requirements of “Independent Counsel” as defined in Section 2 of this Agreement. If the
Independent Counsel is selected by the Board, the Company shall give written notice to Indemnitee advising Indemnitee of the identity
of the Independent Counsel so selected and certifying that the Independent Counsel so selected meets the requirements of “Independent
Counsel” as defined in Section 2 of this Agreement. In either event, Indemnitee or the Company, as the case may be,
may, within ten (10) days after such written notice of selection shall have been received, deliver to the Company or to Indemnitee,
as the case may be, a written objection to such selection; provided, however, that such objection may be asserted only on the ground
that the Independent Counsel so selected does not meet the requirements of “Independent Counsel” as defined in Section 2
of this Agreement, and the objection shall set forth with particularity the factual basis of such assertion. Absent a proper and
timely objection, the person so selected shall act as Independent Counsel. If such written objection is so made and substantiated, the
Independent Counsel so selected may not serve as Independent Counsel unless and until such objection is withdrawn or a court of competent
jurisdiction has determined that such objection is without merit. If, within twenty (20) days after submission by Indemnitee of
a written request for indemnification pursuant to Section 11.2 hereof, no Independent Counsel shall have been selected and
not objected to, either the Company or Indemnitee may petition the Delaware Court for resolution of any objection which shall have been
made by the Company or Indemnitee to the other’s selection of Independent Counsel and/or for the appointment as Independent Counsel
of a person selected by the Delaware Court, and the person with respect to whom all objections are so resolved or the person so appointed
shall act as Independent Counsel under Section 12.1 hereof. Upon the due commencement of any judicial proceeding or arbitration
pursuant to Section 14.1 of this Agreement, Independent Counsel shall be discharged and relieved of any further responsibility
in such capacity (subject to the applicable standards of professional conduct then prevailing).

 

    7

     

    

 

12.3
The Company agrees to pay the reasonable fees and expenses of Independent Counsel and to fully indemnify and hold harmless such Independent
Counsel against any and all Expenses, claims, liabilities and damages arising out of or relating to this Agreement or its engagement
pursuant hereto.

 

13.
PRESUMPTIONS AND EFFECT OF CERTAIN PROCEEDINGS.

 

13.1
In making a determination with respect to entitlement to indemnification hereunder, the person, persons or entity making such determination
shall presume that Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted a request for indemnification
in accordance with Section 11.2 of this Agreement, and the Company shall have the burden of proof to overcome that presumption
in connection with the making by any person, persons or entity of any determination contrary to that presumption. Neither the failure
of the Company (including by the Disinterested Directors or Independent Counsel) to have made a determination prior to the commencement
of any action pursuant to this Agreement that indemnification is proper in the circumstances because Indemnitee has met the applicable
standard of conduct, nor an actual determination by the Company (including by the Disinterested Directors or Independent Counsel) that
Indemnitee has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that Indemnitee
has not met the applicable standard of conduct.

 

13.2
If the person, persons or entity empowered or selected under Section 12 of this Agreement to determine whether Indemnitee
is entitled to indemnification shall not have made a determination within thirty (30) days after receipt by the Company of the request
therefor, the requisite determination of entitlement to indemnification shall be, to the fullest extent permitted by law, deemed to have
been made and Indemnitee shall be entitled to such indemnification, absent (i) a misstatement by Indemnitee of a material fact,
or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading, in connection with the request
for indemnification, or (ii) a final judicial determination that any or all such indemnification is expressly prohibited under applicable
law; provided, however, that such 30-day period may be extended for a reasonable time, not to exceed an additional fifteen (15) days,
if the person, persons or entity making the determination with respect to entitlement to indemnification in good faith requires such
additional time for the obtaining or evaluating of documentation and/or information relating thereto.

 

13.3
The termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon a plea
of nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself adversely affect
the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and in a manner which Indemnitee
reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal Proceeding, that Indemnitee
had reasonable cause to believe that Indemnitee’s conduct was unlawful.

 

13.4
For purposes of any determination of good faith, Indemnitee shall be deemed to have acted in good faith if Indemnitee’s action
is based on the records or books of account of the Enterprise, including financial statements, or on information supplied to Indemnitee
by the directors, managers, managing members or officers of the Enterprise in the course of their duties, or on the advice of legal counsel
for the Enterprise, its Board, any committee of the Board or any director, trustee, general partner, manager or managing member or on
information or records given or reports made to the Enterprise, its Board, any committee of the Board or any director, trustee, general
partner, manager or managing member by an independent certified public accountant or by an appraiser or other expert selected by the
Enterprise, its Board, any committee of the Board or any director, trustee, general partner, manager or managing member. The provisions
of this Section 13.4 shall not be deemed to be exclusive or to limit in any way the other circumstances in which Indemnitee
may be deemed or found to have met the applicable standard of conduct set forth in this Agreement.

 

13.5
The knowledge and/or actions, or failure to act, of any other director, officer, trustee, partner, manager, managing member, fiduciary,
agent or employee of the Enterprise shall not be imputed to Indemnitee for purposes of determining the right to indemnification under
this Agreement.

 

    8

     

    

 

14.
REMEDIES OF INDEMNITEE.

 

14.1
In the event that (i) a determination is made pursuant to Section 12 of this Agreement that Indemnitee is not entitled
to indemnification under this Agreement, (ii) advancement of Expenses, to the fullest extent permitted by applicable law, is not
timely made pursuant to Section 10 of this Agreement, (iii) no determination of entitlement to indemnification shall
have been made pursuant to Section 12.1 of this Agreement within thirty (30) days after receipt by the Company of the
request for indemnification, (iv) payment of indemnification is not made pursuant to Sections 5, 6, 7
or the last sentence of Section 12.1 of this Agreement within ten (10) days after receipt by the Company of a written
request therefor, (v) a contribution payment is not made in a timely manner pursuant to Section 8 of this Agreement,
(vi) payment of indemnification pursuant to Section 3 or 4 of this Agreement is not made within ten (10) days
after a determination has been made that Indemnitee is entitled to indemnification, or (vii) payment to Indemnitee pursuant to any
hold harmless or exoneration rights under this Agreement or otherwise is not made within ten (10) days after receipt by the Company
of a written request therefor, Indemnitee shall be entitled to an adjudication by the Delaware Court to such indemnification, hold harmless,
exoneration, contribution or advancement rights. Alternatively, Indemnitee, at Indemnitee’s option, may seek an award in arbitration
to be conducted by a single arbitrator pursuant to the Commercial Arbitration Rules and Mediation Procedures of the American Arbitration
Association. Except as set forth herein, the provisions of Delaware law (without regard to its conflict of laws rules) shall apply to
any such arbitration. The Company shall not oppose Indemnitee’s right to seek any such adjudication or award in arbitration.

 

14.2
In the event that a determination shall have been made pursuant to Section 12.1 of this Agreement that Indemnitee is not
entitled to indemnification, any judicial proceeding or arbitration commenced pursuant to this Section 14 shall be conducted
in all respects as a de novo trial, or arbitration, on the merits and Indemnitee shall not be prejudiced by reason of that adverse determination.
In any judicial proceeding or arbitration commenced pursuant to this Section 14, Indemnitee shall be presumed to be entitled
to be indemnified, held harmless, exonerated and to receive advancement of Expenses under this Agreement and the Company shall have the
burden of proving Indemnitee is not entitled to be indemnified, held harmless, exonerated and to receive advancement of Expenses, as
the case may be, and the Company may not refer to or introduce into evidence any determination pursuant to Section 12.1 of
this Agreement adverse to Indemnitee for any purpose. If Indemnitee commences a judicial proceeding or arbitration pursuant to this Section 14,
Indemnitee shall not be required to reimburse the Company for any advances pursuant to Section 10 until a final determination
is made with respect to Indemnitee’s entitlement to indemnification (as to which all rights of appeal have been exhausted or lapsed).

 

14.3
If a determination shall have been made pursuant to Section 12.1 of this Agreement that Indemnitee is entitled to indemnification,
the Company shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 14,
absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s
statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification
under applicable law.

 

14.4
The Company shall be precluded from asserting in any judicial proceeding or arbitration commenced pursuant to this Section 14
that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court
or before any such arbitrator that the Company is bound by all the provisions of this Agreement.

 

14.5
The Company shall indemnify and hold harmless Indemnitee to the fullest extent permitted by law against all Expenses and, if requested
by Indemnitee, shall (within ten (10) days after the Company’s receipt of such written request) pay to Indemnitee, to the
fullest extent permitted by applicable law, such Expenses which are incurred by Indemnitee in connection with any judicial proceeding
or arbitration brought by Indemnitee (i) to enforce Indemnitee’s rights under, or to recover damages for breach of, this Agreement
or any other indemnification, hold harmless, exoneration, advancement or contribution agreement or provision of the Charter or the Bylaws
now or hereafter in effect; or (ii) for recovery or advances under any insurance policy maintained by any person for the benefit
of Indemnitee, regardless of the outcome and whether Indemnitee ultimately is determined to be entitled to such indemnification, hold
harmless or exoneration right, advancement, contribution or insurance recovery, as the case may be (unless such judicial proceeding or
arbitration was not brought by Indemnitee in good faith).

 

14.6
Interest shall be paid by the Company to Indemnitee at the legal rate under Delaware law for amounts which the Company indemnifies, holds
harmless or exonerates, or advances, or is obliged to indemnify, hold harmless or exonerate or advance for the period commencing with
the date on which Indemnitee requests indemnification, to be held harmless, exonerated, contribution, reimbursement or advancement of
any Expenses and ending with the date on which such payment is made to Indemnitee by the Company.

 

    9

     

    

 

15.
SECURITY.

 

Notwithstanding
anything herein to the contrary except for Section 27, to the extent requested by Indemnitee and approved by the Board, the
Company may at any time and from time to time provide security to Indemnitee for the Company’s obligations hereunder through an
irrevocable bank line of credit, funded trust or other collateral. Any such security, once provided to Indemnitee, may not be revoked
or released without the prior written consent of Indemnitee.

 

16.
NON-EXCLUSIVITY; SURVIVAL OF RIGHTS; INSURANCE; SUBROGATION.

 

16.1
The rights of Indemnitee as provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee may at any
time be entitled under applicable law, the Charter, the Bylaws, any agreement, a vote of stockholders or a resolution of directors, or
otherwise. No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee
under this Agreement in respect of any Proceeding (regardless of when such Proceeding is first threatened, commenced or completed) or
claim, issue or matter therein arising out of, or related to, any action taken or omitted by such Indemnitee in Indemnitee’s Corporate
Status prior to such amendment, alteration or repeal. To the extent that a change in applicable law, whether by statute or judicial decision,
permits greater indemnification, hold harmless or exoneration rights or advancement of Expenses than would be afforded currently under
the Charter, the Bylaws or this Agreement, then this Agreement (without any further action by the parties hereto) shall automatically
be deemed to be amended to require that the Company indemnify Indemnitee to the fullest extent permitted by law. No right or remedy herein
conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition
to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment
of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other right or remedy.

 

16.2
The Charter, the Bylaws and the DGCL permit the Company to purchase and maintain insurance or furnish similar protection or make other
arrangements including, but not limited to, providing a trust fund, letter of credit, or surety bond (“Indemnification Arrangements”)
on behalf of Indemnitee against any liability asserted against Indemnitee or incurred by or on behalf of Indemnitee or in such capacity
as a director, officer, employee or agent of the Company, or arising out of Indemnitee’s status as such, whether or not the Company
would have the power to indemnify Indemnitee against such liability under the provisions of this Agreement or under the DGCL, as it may
then be in effect. The purchase, establishment, and maintenance of any such Indemnification Arrangement shall not in any way limit or
affect the rights and obligations of the Company or of Indemnitee under this Agreement except as expressly provided herein, and the execution
and delivery of this Agreement by the Company and Indemnitee shall not in any way limit or affect the rights and obligations of the Company
or the other party or parties thereto under any such Indemnification Arrangement.

 

16.3
To the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers, trustees,
partners, managers, managing members, fiduciaries, employees, or agents of the Company or of any other Enterprise which such person serves
at the request of the Company, Indemnitee shall be covered by such policy or policies in accordance with its or their terms to the maximum
extent of the coverage available for any such director, officer, trustee, partner, managers, managing member, fiduciary, employee or
agent under such policy or policies. If, at the time the Company receives notice from any source of a Proceeding as to which Indemnitee
is a party or a participant (as a witness, deponent or otherwise), the Company has director and officer liability insurance in effect,
the Company shall give prompt notice of such Proceeding to the insurers in accordance with the procedures set forth in the respective
policies. The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee,
all amounts payable as a result of such Proceeding in accordance with the terms of such policies.

 

16.4
In the event of any payment under this Agreement, the Company, to the fullest extent permitted by law, shall be subrogated to the extent
of such payment to all of the rights of recovery of Indemnitee, who shall execute all papers required and take all action necessary to
secure such rights, including execution of such documents as are necessary to enable the Company to bring suit to enforce such rights.

 

    10

     

    

 

16.5
The Company’s obligation to indemnify, hold harmless, exonerate or advance Expenses hereunder to Indemnitee who is or was serving
at the request of the Company as a director, officer, trustee, partner, manager, managing member, fiduciary, employee or agent of any
other Enterprise shall be reduced by any amount Indemnitee has actually received as indemnification, hold harmless or exoneration payments
or advancement of expenses from such Enterprise. Notwithstanding any other provision of this Agreement to the contrary except for Section 27,
(i) Indemnitee shall have no obligation to reduce, offset, allocate, pursue or apportion any indemnification, hold harmless, exoneration,
advancement, contribution or insurance coverage among multiple parties possessing such duties to Indemnitee prior to the Company’s
satisfaction and performance of all its obligations under this Agreement, and (ii) the Company shall perform fully its obligations
under this Agreement without regard to whether Indemnitee holds, may pursue or has pursued any indemnification, advancement, hold harmless,
exoneration, contribution or insurance coverage rights against any person or entity other than the Company.

 

17.
DURATION OF AGREEMENT.

 

All
agreements and obligations of the Company contained herein shall continue during the period Indemnitee serves as a director or officer
of the Company or as a director, officer, trustee, partner, manager, managing member, fiduciary, employee or agent of any other corporation,
partnership, joint venture, trust, employee benefit plan or other Enterprise which Indemnitee serves at the request of the Company and
shall continue thereafter so long as Indemnitee shall be subject to any possible Proceeding (including any rights of appeal thereto and
any Proceeding commenced by Indemnitee pursuant to Section 14 of this Agreement) by reason of Indemnitee’s Corporate
Status, whether or not Indemnitee is acting in any such capacity at the time any liability or expense is incurred for which indemnification
or advancement can be provided under this Agreement.

 

18.
SEVERABILITY.

 

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

 

19.
ENFORCEMENT AND BINDING EFFECT.

 

19.1
The Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on it hereby in
order to induce Indemnitee to serve as a director, officer or key employee of the Company, and the Company acknowledges that Indemnitee
is relying upon this Agreement in serving as a director, officer or key employee of the Company.

 

19.2
Without limiting any of the rights of Indemnitee under the Charter or the Bylaws of the Company as they may be amended from time to time,
this Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes all
prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter hereof.

 

19.3
The indemnification, hold harmless, exoneration and advancement of expenses rights provided by or granted pursuant to this Agreement
shall be binding upon and be enforceable by the parties hereto and their respective successors and assigns (including any direct or indirect
successor by purchase, merger, consolidation or otherwise to all or substantially all of the business and/or assets of the Company),
shall continue as to an Indemnitee who has ceased to be a director, officer, employee or agent of the Company or a director, officer,
trustee, general partner, manager, managing member, fiduciary, employee or agent of any other Enterprise at the Company’s request,
and shall inure to the benefit of Indemnitee and his or her spouse, assigns, heirs, devisees, executors and administrators and other
legal representatives.

 

    11

     

    

 

19.4
The Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to all,
substantially all or a substantial part, of the business and/or assets of the Company, by written agreement in form and substance satisfactory
to Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would
be required to perform if no such succession had taken place.

 

19.5
The Company and Indemnitee agree herein that a monetary remedy for breach of this Agreement, at some later date, may be inadequate, impracticable
and difficult of proof, and further agree that such breach may cause Indemnitee irreparable harm. Accordingly, the parties hereto agree
that Indemnitee may, to the fullest extent permitted by law, enforce this Agreement by seeking, among other things, injunctive relief
and/or specific performance hereof, without any necessity of showing actual damage or irreparable harm and that by seeking injunctive
relief and/or specific performance, Indemnitee shall not be precluded from seeking or obtaining any other relief to which Indemnitee
may be entitled. The Company and Indemnitee further agree that Indemnitee shall, to the fullest extent permitted by law, be entitled
to such specific performance and injunctive relief, including temporary restraining orders, preliminary injunctions and permanent injunctions,
without the necessity of posting bonds or other undertaking in connection therewith. The Company acknowledges that in the absence of
a waiver, a bond or undertaking may be required of Indemnitee by a court of competent jurisdiction, the Company hereby waives any such
requirement of such a bond or undertaking to the fullest extent permitted by law.

 

20.
MODIFICATION AND WAIVER.

 

No
supplement, modification or amendment of this Agreement shall be binding unless executed in writing by the Company and Indemnitee. No
waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions of this Agreement
nor shall any waiver constitute a continuing waiver.

 

21.
NOTICES.

 

All
notices, requests, demands and other communications under this Agreement shall be in writing and shall be deemed to have been duly given
(i) if delivered by hand and receipted for by the party to whom said notice or other communication shall have been directed, on
such delivery, or (ii) if mailed by certified or registered mail with postage prepaid, on the third (3rd) business day after
the date on which it is so mailed:

 

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

 

(b)
If to the Company, to:

 

Stratim
Cloud Acquisition Corp.

 

1605
Pine Cone Circle

Incline Village, Nevada 89451

Attn: Secretary

 

With
copies, which shall not constitute notice, to:

 

Stratim
Cloud Acquisition, LLC

1605 Pine Cone Circle

Incline Village, Nevada 89451

Attn: Secretary

 

and

 

Skadden,
Arps, Slate, Meagher & Flom LLP

525 University Ave, Suite 1400

Palo Alto, California 94301

Attn: Michael Mies

 

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

 

    12

     

    

 

22.
APPLICABLE LAW AND CONSENT TO JURISDICTION.

 

This
Agreement and the legal relations among the parties shall be governed by, and construed and enforced in accordance with, the laws of
the State of Delaware, without regard to its conflict of laws rules. Except with respect to any arbitration commenced by Indemnitee pursuant
to Section 14.1 of this Agreement, to the fullest extent permitted by law, the Company and Indemnitee hereby irrevocably
and unconditionally: (a) agree that any action or proceeding arising out of or in connection with this Agreement shall be brought
only in the Delaware Court and not in any other state or federal court in the United States of America or any court in any other country;
(b) consent to submit to the exclusive jurisdiction of the Delaware Court for purposes of any action or proceeding arising out of
or in connection with this Agreement; (c) waive any objection to the laying of venue of any such action or proceeding in the Delaware
Court; and (d) waive, and agree not to plead or to make, any claim that any such action or proceeding brought in the Delaware Court
has been brought in an improper or inconvenient forum, or is subject (in whole or in part) to a jury trial. To the fullest extent permitted
by law, the parties hereby agree that the mailing of process and other papers in connection with any such action or proceeding in the
manner provided by Section 21 or in such other manner as may be permitted by law, shall be valid and sufficient service thereof.

 

23.
IDENTICAL COUNTERPARTS.

 

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

 

24.
MISCELLANEOUS.

 

Use
of the masculine pronoun shall be deemed to include usage of the feminine pronoun where appropriate. The headings of the paragraphs of
this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the construction
thereof.

 

25.
PERIOD OF LIMITATIONS.

 

No
legal action shall be brought and no cause of action shall be asserted by or in the right of the Company against Indemnitee, Indemnitee’s
spouse, heirs, executors or personal or legal representatives after the expiration of two years from the date of accrual of such cause
of action, and any claim or cause of action of the Company shall be extinguished and deemed released unless asserted by the timely filing
of a legal action within such two-year period; provided, however, that if any shorter period of limitations is otherwise applicable to
any such cause of action such shorter period shall govern.

 

26.
ADDITIONAL ACTS.

 

If
for the validation of any of the provisions in this Agreement any act, resolution, approval or other procedure is required, to the fullest
extent permitted by law, the Company undertakes to cause such act, resolution, approval or other procedure to be affected or adopted
in a manner that will enable the Company to fulfill its obligations under this Agreement.

 

27.
WAIVER OF CLAIMS TO TRUST ACCOUNT.

 

Indemnitee
hereby agrees that it does not have any right, title, interest or claim of any kind (each, a “Claim”) in or
to any monies in the trust account established in connection with the Company’s initial public offering for the benefit of the
Company and holders of shares issued in such offering, and hereby waives any Claim it may have in the future as a result of, or arising
out of, any services provided to the Company and will not seek recourse against such trust account for any reason whatsoever.

 

28.
MAINTENANCE OF INSURANCE.

 

The
Company shall use commercially reasonable efforts to obtain and maintain in effect during the entire period for which the Company is
obligated to indemnify the Indemnitee under this Agreement, one or more policies of insurance with reputable insurance companies to provide
the officers/directors of the Company with coverage for losses from wrongful acts and omissions and to ensure the Company’s performance
of its indemnification obligations under this Agreement. The Indemnitee shall be covered by such policy or policies in accordance with
its or their terms to the maximum extent of the coverage available for any such director or officer under such policy or policies. In
all such insurance policies, the Indemnitee shall be named as an insured in such a manner as to provide the Indemnitee with the same
rights and benefits as are accorded to the most favorably insured of the Company’s directors and officers.

 

[SIGNATURE
PAGE FOLLOWS]

 

    13

     

    

 

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

 

	 
	STRATIM CLOUD ACQUISITION CORP.
	 	 
	 	By: 	/s/ Sreekanth Ravi
	 	Name:  	Sreekanth Ravi
	 	Title: 	Chief Executive Officer
	 	 
	 	/s/ Kabir Misra
	 	Name: 	Kabir Misra

 

[Signature Page to Indemnity Agreement]

 

 

14Exhibit
4.2

 

DESCRIPTION
OF THE REGISTRANT’S SECURITIES 

REGISTERED
PURSUANT TO 

SECTION
12 OF THE 

SECURITIES
EXCHANGE ACT OF 1934

 

The
following is a description of securities of Lottery.com Inc. (the “Company,” “we” or “us”) registered
under Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). This description is a summary and
is qualified in its entirety by reference to our Second Amended and Restated Certificate of Incorporation (the “Charter”)
and our Amended and Restated Bylaws (the “Bylaws”), copies of which are filed as Exhibits 3.1 and 3.2, respectively,
to the Annual Report on Form 10-K of which this Exhibit 4.2 is a part. We urge you to read
each of the Charter, the Bylaws, the warrant-related documents described herein and the applicable provisions of the Delaware General
Corporation Law in their entirety for a complete description of the rights and preferences of our securities. 

 

Authorized
and Outstanding Stock

 

The
Charter authorizes the issuance of an aggregate of 501,000,000 shares of capital stock, consisting of 500,000,000 shares of
common stock, par value $0.001 per share (the “Common Stock”), and 1,000,000 shares of preferred stock, par value $0.001
per share.

 

The
shares of the Common Stock are duly authorized, validly issued, fully paid and non-assessable. Our purpose is to engage in any lawful
act or activity for which corporations may now or hereafter be organized under the Delaware General Corporation Law (the “DGCL”). Unless
the board of directors of the Company (the “Board”) determines otherwise, we will issue all shares of our capital stock in
uncertificated form.

 

Common
Stock

 

Holders
of the Common Stock are entitled to one vote for each share held of record on all matters submitted to a vote of stockholders. The holders
of Common Stock do not have cumulative voting rights in the election of directors. Upon our liquidation, dissolution or winding up and
after payment in full of all amounts required to be paid to creditors and to the holders of preferred stock having liquidation preferences,
if any, the holders of Common Stock will be entitled to receive pro rata our remaining assets available for distribution.

 

No
shares of Common Stock will be subject to redemption (except as described below under “Redemption Rights with Respect to Capital
Stock held by Disqualified Holders and Their Affiliates”) or have pre-emptive rights to purchase additional shares of
capital stock. Holders of Common Stock do not have subscription, redemption or conversion rights. The Common Stock will not be subject
to further calls or assessment by the Company. There will be no sinking fund provisions applicable to the Common Stock. The rights, powers,
preferences and privileges of holders of the Common Stock are subject to those of the holders of any shares of the Company’s preferred
stock that the Company may authorize and issue in the future.

 

When
a quorum is present at any meeting, any matter other than the election of directors to be voted upon by the stockholders at such meeting
will be decided by a majority vote of the holders of shares of capital stock present or represented at the meeting and voting affirmatively
or negatively on such matter. At all meetings of stockholders for the election of directors at which a quorum is present, a plurality
of the votes cast will be sufficient to elect such directors.

 

Preferred
Stock

 

The
Charter authorizes the Board to establish one or more series of preferred stock. Unless required by law or by The Nasdaq Stock Market
LLC (“Nasdaq”), the authorized shares of preferred stock will be available for issuance without further action by the stockholder.
The Board is authorized to fix, from time to time, before issuance, the number of preferred shares to be included in any such series
and the designation, powers, preferences and relative participating, optional or other rights, if any, and the qualifications, limitations
or restrictions thereof. The authority of the Board with respect to each such series will include, without limiting the generality of
the foregoing, the determination of any or all of the following:

 

		●	The
                                            number of shares of any series and the designation to distinguish the shares of all other
                                            series.

 

     

     

    

 

		●	The
voting powers, if any, and whether such voting powers are full or limited in such series.

 

		●	The
redemption provisions, if any, applicable to such series, including the redemption price or prices to be paid.

 

		●	Whether
dividends, if any, will be cumulative or non-cumulative, the dividend rate of such series, and the dates and preferences of dividends
on such series.

 

		●	The
rights of such series upon the voluntary or involuntary dissolution of, or upon any distribution of, ours assets.

 

		●	The
provisions, if any, pursuant to which the shares of such series are convertible into, or exchangeable for, shares of any other class
or classes or of any other series of the same or any other class or classes of stock, or any other security, of the Company or any other
corporation or other entity, and the rates or other determinants of conversion or exchange applicable thereto.

 

		●	The
right, if any, to subscribe for or to purchase any securities of the Company or any other corporation or other entity.

 

		●	The
provisions, if any, of a sinking fund applicable to such series.

 

		●	Any
other relative, participating, optional, or other special powers, preferences or rights and qualifications, limitations, or restrictions
thereof.

 

All
of the foregoing may be determined from time to time by the Board and stated or expressed in the resolution or resolutions providing
for the issuance of such preferred stock (collectively, a “Preferred Stock Designation”).

 

The
Company could issue a series of preferred stock that could, depending on the terms of the series, impede or discourage an acquisition
attempt or other transaction that some, or a majority of the holders of Common Stock might believe to be in their best interests or in
which the holders of Common Stock might receive a premium for their shares of Common Stock over its market price. Additionally, the issuance
of preferred stock may adversely affect the rights of holders of Common Stock by restricting dividends on Common Stock, diluting the
voting power of Common Stock or subordinating the liquidation rights of Common Stock. As a result of these and/or other factors, the
issuance of preferred stock could have an adverse impact on the market price of Common Stock.

 

Public
Warrants

 

The
warrants issued in connection with the Company’s initial public offering (the “IPO”), consummated on June 1, 2018 while
the Company operated as Trident Acquisitions Corp. (the “public warrants”), entitle the holder of each public warrant to
purchase one share of Common Stock at a price of $11.50 per share, subject to adjustment. Each public warrant became exercisable on November
28, 2021, which date was 30 days after October 29, 2021 (the “Business Combination Closing Date”), the closing date
of the Company’s business combination with AutoLotto, Inc. (the “Business Combination”). Each public warrant will expire
at 5:00 p.m., New York City time on October 29, 2026, which date is five years from the Business Combination Closing Date, or earlier
upon redemption.

 

No
public warrants will be exercisable for cash unless there is an effective and current registration statement covering the shares of Common
Stock issuable upon exercise of the public warrants and a current prospectus relating to such shares of Common Stock. The shares of Common
Stock issuable upon exercise of the public warrants have been registered pursuant to the Company’s Form S-1 Registration Statement,
filed with the Securities and Exchange Commission on November 18, 2021 and which was declared effective on November 24, 2021. Notwithstanding
the foregoing, if a registration statement covering the shares of Common Stock issuable upon exercise of the public warrants is not effective
on any day in which a holder wishes to exercise such warrants, such holders of public warrants may, until such time as there is an effective
registration statement and during any period when we have failed to maintain an effective registration statement, exercise the public
warrants on a cashless basis pursuant to an available exemption from registration under the Securities Act of 1933 (the “Securities
Act”). The public warrants are subject to the terms of the Warrant Agreement (as defined below). Under the terms of the Warrant
Agreement, a current prospectus relating to the shares of Common Stock issuable upon exercise of the public warrants is required to be
maintained until the expiration of the public warrants. However, there can be no assurance that this will be the case and, if a current
prospectus relating to the shares of Common Stock issuable upon exercise of the public warrants is not maintained, holders will be unable
to exercise their public warrants for cash and any such warrant exercise is not required to be settled. If the prospectus relating to
the shares of Common Stock issuable upon the exercise of the public warrants is not current, or if the Common Stock is not qualified
or exempt from qualification in the jurisdictions in which the holders of the public warrants reside, there is no requirement to net
cash settle the public warrant exercise, the public warrants may have no value, the market for the public warrants may be limited and
the public warrants may expire worthless.

 

    2

     

    

 

The
outstanding public warrants may be called for redemption:

 

		●	in
whole and not in part;

 

		●	at
a price of $0.01 per public warrant:

 

		●	if,
and only if, the reported last sales price of the shares of Common Stock equals or exceeds $16.00 per shares, for any 20 trading
days within a 30 trading day period ending on the third business day prior to the day on which the notice of redemption is
given to public warrant holders; and

 

		●	upon
not less than 30 days’ prior written notice of redemption to each public warrant holder.

 

We
will not redeem the warrants unless an effective registration statement under the Securities Act covering the shares of Common Stock
issuable upon exercise of the warrants is effective and a current prospectus relating to those shares of Common Stock is available throughout
the 30-day redemption period, except if the warrants may be exercised on a cashless basis and such cashless exercise is exempt from registration
under the Securities Act. If and when the warrants become redeemable by us, we may exercise our redemption right even if we are unable
to register or qualify the underlying securities for sale under all applicable state securities laws.

 

If
we call the public warrants for redemption as described above, our management will have the option to require all holders that wish to
exercise public warrants to do so on a “cashless basis.” In such event, each holder would pay the exercise price by surrendering
the public warrants for that number of shares of Common Stock equal to the quotient obtained by dividing (x) the product of the
number of shares of Common Stock underlying the public warrants, multiplied by the difference between the exercise price of the public
warrants and the “fair market value” (defined below) by (y) the fair market value. The “fair market value”
for this purpose shall mean the average reported closing price of the Common Stock for the ten trading days ending on the third trading
day prior to the date on which the notice of redemption is sent to the holders of public warrants. Whether we will exercise our option
to require all holders to exercise their public warrants on a “cashless basis” will depend on a variety of factors including
the price of the Common Stock at the time the public warrants are called for redemption, ongoing cash needs at such time and concerns
regarding dilutive share issuances.

 

The
public warrants have been issued in registered form under a warrant agreement (as amended, the “Warrant Agreement”) between
Continental Stock Transfer & Trust Company, as warrant agent, and the Company (f/k/a Trident Acquisitions Corp.). The Warrant
Agreement provides that the terms of the public warrants may be amended without the consent of any holder to cure any ambiguity or correct
any defective provision, but requires the approval, by written consent or vote, of the holders of a majority of the then outstanding
public warrants in order to make any change that adversely affects the interests of the registered holders of public warrants.

 

The
exercise price and number of shares of Common Stock issuable upon exercise of the public warrants may be adjusted in certain circumstances
including in the event of a stock dividend, extraordinary dividend or recapitalization, reorganization, merger or consolidation. However,
the public warrants will not be adjusted for issuances of shares of Common Stock at a price below the applicable exercise price.

 

The
public warrants may be exercised upon surrender of a public warrant certificate on or prior to the expiration date at the offices of
the warrant agent, with the exercise form on the reverse side of such public warrant certificate completed and executed as indicated,
accompanied by full payment of the exercise price (or on a cashless basis, if applicable), by certified or official bank check, for the
number of public warrants being exercised. The public warrant holders do not have the rights or privileges of holders of shares of Common
Stock and any voting rights until they exercise their warrants and receive shares of Common Stock. After the issuance of shares of Common
Stock upon exercise of the public warrants, each holder will be entitled to one vote for each share held of record on all matters to
be voted on by stockholders.

 

    3

     

    

 

Dividends

 

The
DGCL permits a corporation incorporated in the State of Delaware to declare and pay dividends out of “surplus” or, if there
is no “surplus”, out of its net profits for the fiscal year in which the dividend is declared and/or the preceding fiscal
year. “Surplus” is defined by the DGCL as the excess of the net assets of the corporation over the amount determined to be
the capital of the corporation by the Board. The capital of the corporation is typically calculated to be (and cannot be less than) the
aggregate par value of all issued shares of capital stock. Net assets equals the fair value of the total assets minus total liabilities.

 

The
DGCL also provides that dividends may not be paid out of net profits if, after the payment of the dividend, capital is less than the
capital represented by the outstanding stock of all classes having a preference upon the distribution of assets.

 

Declaration
and payment of any dividend will be subject to the discretion of the Board. The time and amount of dividends will be dependent upon our
financial condition, operations, cash requirements and availability, debt repayment obligations, capital expenditure needs and restrictions
in our debt instruments, industry trends, the provisions of the DGCL affecting the payment of distributions to stockholders and any other
factors the Board may consider relevant.

 

Subject
to the rights of the holders of any series of preferred stock, holders of Common Stock will be entitled to receive such dividends and
distributions and other distributions in cash, stock or property of the Company when, as and if declared thereon by the Board from time
to time out of our assets or funds legally available therefor.

 

Annual
Stockholder Meetings

 

The
Bylaws provide that annual stockholder meetings will be held wholly or partially by means of remote communication, or at such place,
within or without the State of Delaware, on such date and at such time as may be determined by the Board and as will be designated in
the notice of the annual meeting. At any annual meeting of stockholders, only such business will
be conducted or considered as has been brought before such meeting in the manner provided in the Bylaws.

 

Anti-Takeover
Effects of the Charter, the Bylaws and Certain Provisions of Delaware Law

 

The
Charter, the Bylaws and the DGCL contain provisions, as summarized in the following paragraphs, which are intended to enhance the likelihood
of continuity and stability in the composition of the Board. These provisions are intended to avoid costly takeover battles, reduce our
vulnerability to a hostile change of control and enhance the ability of the Board to maximize stockholder value in connection with any
unsolicited offer to acquire the Company. However, these provisions may have an anti-takeover effect and may delay, deter or prevent
a merger or acquisition of the Company by means of a tender offer, a proxy contest or other takeover attempt that a stockholder might
consider in its best interest, including those attempts that might result in a premium over the prevailing market price for the shares
of Common Stock held by stockholders.

 

Authorized
but Unissued Capital Stock

 

The
DGCL does not require stockholder approval for any issuance of authorized shares. However, the Nasdaq listing requirements (which currently
apply and will continue to apply to the Company if and for so long as the Common Stock remain listed on Nasdaq) require stockholder approval
of certain issuances that equal or exceed 20% of the then-outstanding voting power, or the then-outstanding number of shares of Common
Stock. Additional shares of Common Stock that may be used in the future may be issued for a variety of corporate purposes, including
future public offerings, to raise additional capital or to facilitate acquisitions.

 

The
Board may generally issue shares of preferred stock on terms calculated to discourage, delay or prevent a change of control of the Company
or the removal of our management. Moreover, our authorized but unissued shares of preferred stock will be available for future issuances
without stockholder approval and could be utilized for a variety of corporate purposes, including future offerings to raise additional
capital, to facilitate acquisitions and employee benefit plans.

 

One
of the effects of the existence of unissued and unreserved Common Stock or preferred stock may be to enable the Board to issue shares
to persons friendly to current management, which issuance could render more difficult or discourage an attempt to obtain control of the
Company by means of a merger, tender offer, proxy contest or otherwise, and thereby protect the continuity of the Company’s management
and possibly deprive our stockholders of opportunities to sell their shares of Common Stock at prices higher than prevailing market prices.

 

    4

     

    

 

Classified
Board of Directors

 

Our
directors are classified with respect to the time for which they severally hold office into three classes, designated as Class I,
Class II and Class III, as nearly equal in number as possible. The directors first elected to Class I will hold office
for a term expiring at the annual meeting of stockholders to be held in 2022; the directors first elected to Class II will hold
office for a term expiring at the annual meeting of stockholders to be held in 2023; and the directors first elected to Class III
will hold office for a term expiring at the annual meeting of stockholders to be held in 2024, with the members of each class to hold
office until their successors are elected and qualified, or until their earlier death, resignation, retirement, disqualification or removal
from office. At each succeeding annual meeting of our stockholders held, the successors to the class of directors whose term expires
at that meeting will be elected by plurality vote of all votes cast at such meeting to hold office for a term expiring at the annual
meeting of stockholders held in the third year following the year of their election and until their successors are elected and qualified.
Subject to the rights, if any, of the holders of any future series of preferred stock to elect additional directors under circumstances
specified in a Preferred Stock Designation, directors may be elected by the stockholders only at an annual meeting of stockholders. 

 

Removal
of Directors; Vacancies

 

Subject
to the rights, if any, of the holders of any series of preferred stock to elect additional directors under circumstances specified in
a Preferred Stock Designation, the Charter provides that directors may be removed from office at any time, but only for cause and only
by the affirmative vote of the holders of at least 66 2/3% of the voting power of the outstanding shares of stock of the Company
entitled to vote on the election of such director, voting together as a single class.

 

Subject
to (a) the rights, if any, of the holders of any future series of preferred stock to elect additional directors under circumstances
specified in a Preferred Stock Designation and (b) the terms of the Investor Rights Agreement, any vacancies on the Board resulting
from death, resignation, disqualification, retirement, removal or other cause and any newly created directorships resulting from any
increase in the number of directors will be filled solely by the affirmative vote of a majority of the remaining directors then in office,
even though less than a quorum of the Board, or by a sole remaining director, and will not be filled by the stockholders. Any director
elected in accordance with the preceding sentence will hold office for the remainder of the full term of the class of directors in which
the new directorship was created or the vacancy occurred and until such director’s successor has been elected and qualified or
until such director’s earlier death, resignation, disqualification, retirement or removal. No decrease in the number of directors
constituting the Board may shorten the term of any incumbent director.

 

Special
Stockholder Meetings

 

Subject
to the rights of the holders of any future series of preferred stock, special meetings of stockholders may be called for any purpose
or purposes only by the Board, the chairperson of the Board or the Chief Executive Officer and may not be called by stockholders. At
any special meeting of stockholders, only such business will be conducted or considered as has been brought before such meeting in the
manner provided in the Bylaws.

 

Requirements
for Advance Notification of Director Nominations and Stockholder Proposals

 

The
Bylaws establish advance notice procedures with respect to stockholder proposals and the nomination of candidates for election as directors,
other than nominations made by or at the direction of the Board or a committee of the Board. In order for any matter to be properly brought
before a meeting, a stockholder has to comply with advance
notice requirements and provide us with certain information on a timely basis. Generally, to be timely, a stockholder’s notice
relating to any nomination or other business to be brought before an annual meeting must be delivered to, or mailed or received by, the
Secretary of the Company at the principal executive offices not later than the close of business on the 90th day and not earlier than
the close of business on the 120th day prior to the one-year anniversary of the immediately preceding annual meeting of stockholders.
Notwithstanding the foregoing, if the date of the annual meeting is more than 30 days before or more than 70 days after such
anniversary date, or if no annual meeting was held in the preceding year, to be timely, notice by the stockholder must be so delivered,
or mailed and received, not later than the close of business of on the 90th day prior to such annual meeting or, if later, on the 10th
day following the day on which public disclosure of the date of such annual meeting was first made.

 

    5

     

    

 

The
Bylaws also specify requirements as to the proper form and content of a stockholder’s notice.

 

These
advance notice provisions may defer, delay or discourage a potential acquirer from conducting a solicitation of proxies to elect the
acquirer’s own slate of directors or otherwise attempting to influence or obtain control of Lottery.com.

 

Consent
of Stockholders in Lieu of a Meeting

 

Subject
to the rights of the holders of any series of preferred stock, any action required or permitted to be taken by the stockholders may be
taken only at a duly called annual or special meeting of the stockholders and may not be taken without a meeting by means of any written
consent of such stockholders.

 

Dissenters’
Rights of Appraisal and Payment

 

Under
the DGCL, with certain exceptions, our stockholders will have appraisal rights in connection with a merger or consolidation. Pursuant
to the DGCL, stockholders who properly request and perfect appraisal rights in connection with such merger or consolidation will have
the right to receive payment of the fair value of their stock as determined by the Court of Chancery of the State of Delaware (the “Chancery
Court”).

 

Stockholders’
Derivative Actions

 

Under
the DGCL, any of our stockholders may bring an action in the Company’s name to procure a judgment in the Company’s favor,
also known as a derivative action, provided that the stockholder bringing the action is a holder of our stock at the time of the transaction
to which the action relates, or such stockholder’s stock thereafter devolved by operation of law.

 

Amendment
of the Current Charter

 

The
Charter provides that the Company reserves the right to amend, alter, change or repeal any provision contained in the Charter. Notwithstanding
any inconsistent provision of the Charter or any provision of law that might otherwise permit a lesser vote or no vote, but in addition
to any affirmative vote of the holders of any series of preferred stock required by law, the affirmative vote of the holders of at least
66 2/3% of the voting power of the outstanding shares of stock entitled to vote at an election of directors, voting together as
a single class, shall be required to alter, amend or repeal, or to adopt any provision inconsistent with certain provisions, as noted
in the Charter.

 

Amendment
of the Bylaws

 

The
Board is expressly authorized to make, repeal, alter, amend and rescind, in whole or in part, the Bylaws. The stockholders may make,
repeal, alter, amend or rescind, in whole or in part, the Bylaws; provided, however, that notwithstanding any other provisions of the
Charter, the Bylaws or any provision of law which might otherwise permit a lesser vote or no vote, but in addition to any affirmative
vote of the holders of our capital stock or any particular class or series thereof required by the Charter, the Bylaws or applicable
law, the affirmative vote of the holders of at least two-thirds of the voting power of the outstanding shares of stock entitled
to vote at an election of directors, voting together as a single class, is required in order for our stockholders to alter, amend or
repeal, in whole or in part, any provision of the Bylaws or to adopt any provision inconsistent therewith.

 

Exclusive
Forum Selection

 

The
Charter contains an exclusive forum provision providing that, unless we consent in writing to the selection of an alternative forum,
the Chancery Court shall be the sole and exclusive forum for any stockholder (including a beneficial owner) to bring (i) any derivative
action or proceeding brought on behalf of the Company, (ii) any action asserting a claim of breach of a fiduciary duty owed by any
director, officer or other employee of the Company to the Company or the Company’s stockholders, (iii) any action asserting
a claim against the Company, its directors, officers or employees arising pursuant to any provision of the DGCL, or the Charter or the
Bylaws, or (iv) any action asserting a claim against the Company, its directors, officers, employees or agents governed by the internal
affairs doctrine. If any action the subject matter of which is within the scope of the foregoing is filed in a court other than the Chancery
Court (a “Foreign Action”) by any stockholder (including any beneficial owner), to the fullest extent permitted by law, such
stockholder shall be deemed to have consented to: (a) the personal jurisdiction of the Chancery Court in connection with any action
brought in any such court to enforce this exclusive forum provision; and (b) having service of process made upon such stockholder
in any such action by service upon such stockholder’s counsel in the Foreign Action as agent for such stockholder. 

 

    6

     

    

 

In
addition, the Charter provides that, unless we consent in writing to the selection of an alternative forum, the federal district courts
of the United States of America shall, to the fullest extent permitted by applicable law, be the exclusive forum for the resolution
of any complaint asserting a cause of action arising under the Securities Act.

 

Limitations
on Liability and Indemnification of Officers and Directors

 

The
DGCL authorizes corporations to limit or eliminate the personal liability of directors to corporations and their stockholders for monetary
damages for breaches of directors’ fiduciary duties, subject to certain exceptions. The Charter includes a provision that eliminates
the personal liability of directors for monetary damages for any breach of fiduciary duty as a director, except to the extent such exemption
from liability or limitation thereof is not permitted under the DGCL. The effect of these provisions is to eliminate the rights
of the Company and our stockholders, through stockholders’ derivative suits on the Company’s behalf, to recover monetary
damages from a director for breach of fiduciary duty as a director, including breaches resulting from grossly negligent behavior. However,
exculpation does not apply to any director for any breach of the director’s duty of loyalty to the Company or our stockholders,
or if the director has acted in bad faith, knowingly or intentionally violated the law, authorized illegal dividends or redemptions or
derived an improper benefit from their actions as a director.

 

The
Charter provides that the Company may indemnify and advance expenses to directors, officers, employees or agents of the Company or any
of its predecessors, or at the Company’s request at another corporation, partnership, joint venture, trust or other enterprise,
to the fullest extent authorized by law. 

 

The
Bylaws provide that the Company is expressly authorized to purchase and maintain insurance, at its expense, to protect itself and any
director, officer, employee or agent of the Company or serving at the Company’s request at another corporation, partnership, joint
venture, trust or other enterprise against any expense, liability or loss, whether or not the Company would have the power to indemnify
such person against such expense, liability or loss under the DGCL. We believe that these indemnification and advancement provisions
and insurance are useful to attract and retain qualified directors and executive officers.

 

The
limitation of liability, advancement and indemnification provisions in the Charter and the Bylaws may discourage stockholders from bringing
a lawsuit against directors for breach of their fiduciary duty. These provisions also may have the effect of reducing the likelihood
of derivative actions against directors and officers, even though such an action, if successful, might otherwise benefit the Company
and its stockholders. In addition, our stockholders’ investment may be adversely affected to the extent the Company pays the costs
of settlement and damage awards against directors, officers, employees or agents pursuant to these indemnification provisions in the
Charter and the Bylaws.

 

Redemption
Rights with Respect to Capital Stock Held by Disqualified Holders and Their Affiliates

 

The
Charter provides that any shares of capital stock, bonds, notes, convertible debentures, options, warrants or other instruments that
represent a share of equity of the Company, a debt owed by the Company or the right to acquire any of the foregoing (for purposes of
this section, the “Securities”), owned or controlled by a record or beneficial holder of the Company’s Securities or
an affiliate thereof who or that (i) fails or refuses to participate in good faith in an investigative process of, or submit documents,
give notices or make filings requested or required by, any Regulatory Authority (as such term is defined in the Charter), (ii) is
denied or disqualified by any regulatory authority from receiving or holding any Regulatory Approval (as such term is defined in the
Charter)), (iii) is determined by a regulatory authority or by the Board, based on advice of counsel or verifiable information received
from any Regulatory Authority, to be disqualified or unsuitable to own or control any Securities or to be associated or affiliated in
any capacity with the Company, its affiliates, or the business
and activities of the Company and its affiliates in any Applicable Jurisdiction (as such term is defined in the Charter), (iv) causes
the Company or any of its affiliates to lose or to be threatened with the loss of any Regulatory Approval, or (v) is deemed likely
by the Board, based on advice of counsel or verifiable information received from any Regulatory
Authority, by virtue of such holder’s ownership or control of Securities or association or affiliation with the Company
or its affiliates, to jeopardize, impede, impair or adversely affect the ability of the Company’s or any of its affiliates to obtain,
maintain, hold, use or retain any Regulatory Approval or to cause or result in the suspension, disapproval, termination, non-renewal or
loss of any Regulatory Approval (each of such holders or an affiliate of such holder, a “Disqualified Holder”) shall be subject
to redemption by the Company (as described in the Charter) as and to the extent required by a Regulatory
Authority or deemed necessary or advisable by the Company’s Board.

 

    7

     

    

 

If
a Regulatory Authority requires the Company, or the Board deems it necessary or advisable, to cause any such Securities be subject to
redemption, we will deliver a redemption notice (as described in the Charter) to the Disqualified Holder or its affiliate(s) (as
applicable) and shall purchase the number and type of Securities specified in the redemption notice for the redemption price, as defined
and determined in accordance with the Charter and set forth in the redemption notice.

 

Commencing
on the date that a regulatory authority serves notice of a determination of disqualification or unsuitability of a holder of Securities,
or the Board otherwise determines that a person is a Disqualified Holder, and until the Securities owned or controlled by such person
are owned or controlled by a person who is not a Disqualified Holder, the Disqualified Holder and any affiliates of such Disqualified
Holder shall not be entitled to: (i) exercise, directly or indirectly, any voting rights conferred by such Securities or otherwise
participate in the management of the business or affairs of the Company or our affiliates; (ii) receive any dividends or share of
distribution of profits or cash or any other property of, or payments upon dissolution of, the Company or our affiliates, other than
payment for the redemption of the Securities as described in the Charter; or (iii) receive any remuneration in any form from the
Company or any of our affiliates, for services rendered or otherwise.

 

No
redemption of Securities shall be effectuated pursuant to the Charter without the receipt of the regulatory approvals required therefor.
From and after the redemption date, the Securities shall no longer be deemed outstanding, such Disqualified Holder shall cease to be
a stockholder with respect to such Securities and all rights of such Disqualified Holder (other than the right to receive the redemption
price) shall cease.

 

Transfer
Agent and Warrant Agent

 

The
transfer agent for our Common Stock (the “Transfer Agent”) and warrant agent for our public warrants (the Warrant Agent”)
is Continental Stock Transfer & Company. We have agreed to indemnify Continental Stock Transfer & Trust Company in its roles
as Transfer Agent and Warrant Agent, its agents and each of its stockholders, directors, officers and employees against all liabilities,
including judgments, costs and reasonable counsel fees that may arise out of acts performed or omitted for its activities in that capacity,
except for any liability due to any gross negligence, willful misconduct or bad faith of the indemnified person or entity.

 

Listing
of Securities

 

Our
Common Stock and the public warrants are listed on Nasdaq under the symbols “LTRY” and “LTRYW,” respectively.

 

 

8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00343-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00343-of-00352.parquet"}]]