Document:

Exhibit 10.2

 

Execution Version

 

 

 

 

 

 

REGISTRATION RIGHTS AGREEMENT

 

among

 

TRITERRAS,
INC.

 

and

 

THE OTHER PARTIES NAMED HEREIN

 

 

 

Dated: November 10, 2020

 

 

 

 

 

 

 

    

     

    

 

REGISTRATION RIGHTS AGREEMENT

 

REGISTRATION RIGHTS
AGREEMENT, dated November 10, 2020 (this “Agreement”), among Triterras Inc., a Cayman Islands exempted company
(the “Company”), Netfin Acquisition Corp., a Cayman Islands exempted company (“Netfin”),
MVR Netfin LLC, a Nevada limited liability company, as the representative of Netfin (“Netfin Representative”),
Symphonia Strategic Opportunities Limited, a Mauritius private company limited by shares (“SSOL”), IKON Strategic
Holdings Fund a Cayman Islands exempted company (“IKON”), Martin Jaskel (“Mr. Jaskel”), Rick Maurer (“Mr.
Maurer”), Marat Rosenberg (“Mr. Rosenberg”) and Vadim Komissarov (“Mr. Komissarov” and, together
with the Netfin Representative, SSOL, IKON, Mr. Jaskel, Mr. Maurer and Mr. Rosenberg and each of the holders of Registrable Securities
that becomes party to this Agreement pursuant to Section 10(f) by signing a Joinder Agreement, the “Holders”).
Capitalized terms used but not defined herein shall have the meaning given to such terms in the Business Combination Agreement
(as defined below).

 

WHEREAS, pursuant to
the Business Combination Agreement, dated as of July 29, 2020 (as amended on August 28, 2020), by and among the Company, Netfin,
Netfin Merger Sub, a Cayman Islands exempted company, Netfin Representative, SSOL and IKON (the “Business Combination
Agreement”), immediately prior to the Closing, Merger Sub will merge (the “Merger”) with and into
Netfin, with Netfin continuing as the surviving corporation and wholly-owned subsidiary of the Company, as a result of which, each
issued and outstanding ordinary share of Netfin immediately prior to the Transactions (as defined herein) became no longer outstanding
and was automatically converted into the right of the holder thereof to receive one Holdco Ordinary Share and each outstanding
warrant to purchase ordinary shares of Netfin became exercisable for Holdco Ordinary Shares on identical terms;

 

WHEREAS, at the Closing
and in accordance with the terms of the Business Combination Agreement, the Company acquired all of the issued and outstanding
shares of Triterras Fintech Pte. Ltd., a Singapore private company limited by shares, from SSOL in exchange for a combination of
cash and Holdco Ordinary Shares; and

 

WHEREAS, to induce
the Holders to enter into the Business Combination Agreement and related Lock-Up Agreement, the Company agreed to provide the Holders
with certain registration rights and to enter into this Agreement.

 

    

     

    

 

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

 

1. Definitions.
As used in this Agreement, and unless the context requires a different meaning, the following terms have the meanings indicated:

 

“Affiliate”
means, with respect to any Person, any other Person that directly, or indirectly through one or more intermediaries, Controls,
is Controlled by or is under common Control with, the Person specified.

 

“Agreement”
has the meaning set forth in the preamble to this Agreement.

 

“Board of
Directors” means the Board of Directors of the Company.

 

“Business
Combination Agreement” has the meaning set forth in the recitals to this Agreement.

 

“Business
Day” means any day other than a Saturday, Sunday or other day on which commercial banks in the State of New York, the
Republic of Singapore or the Cayman Islands are authorized or required by law or executive order to close.

 

“Commission”
means the United States Securities and Exchange Commission or any similar agency then having jurisdiction to enforce the Securities
Act.

 

“Company”
has the meaning set forth in the preamble to this Agreement.

 

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

 

“Disclosure
Package” means, with respect to any offering of securities (a) the preliminary prospectus, (b) each Free Writing Prospectus
included in the disclosure package pursuant to the applicable underwriting agreement and (c) all other information, in each case,
that is deemed under Rule 159 promulgated under the Securities Act to have been conveyed to purchasers of securities at the time
of sale of such securities (including a contract of sale).

 

“Exchange
Act” means the United States Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission
thereunder.

 

“Free Writing
Prospectus” means any “free writing prospectus” as defined in Rule 405 promulgated under the Securities Act.

 

“Holdco Ordinary
Share Equivalent” means Holdco Warrants and any other security or obligation that is by its terms, directly or indirectly,
convertible, exchangeable or exercisable into or for Holdco Ordinary Shares, including, without limitation, any option, warrant
or other subscription or purchase right with respect to Holdco Ordinary Shares or any Holdco Ordinary Share Equivalent.

 

“Holdco Warrant”
means each outstanding warrant of the Company, each of which entitles the holder to purchase one Holdco Ordinary Share per warrant
at a price of $11.50 per share.

 

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“Holder”
has the meaning set forth in the recitals to this Agreement.

 

“Indemnified
Party” has the meaning set forth in Section 7(c) of this Agreement.

 

“Indemnifying
Party” has the meaning set forth in Section 7(c) of this Agreement.

 

“Inspector(s)”
has the meaning set forth in Section 6(a) of this Agreement.

 

“Joinder Agreement”
has the meaning set forth in Section 10(f) of this Agreement.

 

“Liability(ies)”
has the meaning set forth in Section 7(a) of this Agreement.

 

“Lockup Period”
means the earlier of (a) six months after the date of the Transactions (the “Closing Date”) or (b) the date
following the Closing Date on which the Company completes a liquidation, merger, share exchange or other similar transaction that
results in all of the Company’s shareholders having the right to exchange their Holdco Ordinary Shares.

 

“Maximum Number
of Securities” has the meaning set forth in Section 3(c) of this Agreement.

 

“Netfin”
has the meaning set forth in the preamble to this Agreement.

 

“Netfin Merger
Sub” has the meaning set forth in the recitals to this Agreement.

 

“Netfin Representative”
has the meaning set forth in the preamble to this Agreement.

 

“Person”
means any individual, firm, corporation, partnership, trust, incorporated or unincorporated association, joint venture, joint stock
company, limited liability company, government (or an agency or political subdivision thereof) or other entity of any kind, and
shall include any successor (by merger or otherwise) of such entity.

 

“Piggyback
Registration” has the meaning set forth in Section 4(a) of this Agreement.

 

“Records”
has the meaning set forth in Section 6(a) of this Agreement.

 

“Registrable
Securities” means any Holdco Warrants or Holdco Ordinary Shares held by the Holders on the Closing Date and any other
securities issued or issuable with respect to any such Holdco Warrants or Holdco Ordinary Shares by way of share split, share dividend,
recapitalization, exercise, exchange or similar event or otherwise (including the underlying Holdco Ordinary Shares issued upon
the exercise of any Holdco Warrants). As to any particular Registrable Securities, once issued such securities shall cease to be
Registrable Securities when (a) they are sold pursuant to an effective Registration Statement under the Securities Act, (b) they
are sold under circumstances in which all of the applicable conditions of Rule 144 (or any similar provisions then in force) are
met, (c) they become eligible for sale pursuant to Rule 144 without volume or manner-of-sale restrictions and without the requirement
for the Company to be in compliance with the current public information requirement under Rule 144(c)(1), (d) they shall have ceased
to be outstanding or (e) they have been sold in a private transaction in which the transferor’s rights under this Agreement
are not assigned to the transferee of the securities.

 

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“Registration”
means a registration under the Securities Act effected by preparing and filing a registration statement or similar document in
compliance with the requirements of the Securities Act, and the applicable rules and regulations promulgated thereunder, and such
registration statement becoming effective.

 

“Registration
Expenses” has the meaning set forth in Section 6(d) of this Agreement.

 

“Registration
Statement” means a Registration Statement filed pursuant to the Securities Act.

 

“Replacement
F-3 Shelf” has the meaning set forth in Section 3(a) of this Agreement.

 

“Rule 144”
means Rule 144 under the Securities Act.

 

“Securities
Act” means the United States Securities Act of 1933, as amended, and the rules and regulations of the Commission promulgated
thereunder.

 

“Selling Holders’
Counsel” has the meaning set forth in Section 6(a)(i) of this Agreement.

 

“Shareholder
Lockup Period” has the meaning set forth in Section 5(b) of this Agreement.

 

“SSOL”
has the meaning set forth in the preamble to this Agreement.

 

“Subsequent
Purchaser” means any Affiliate of a Holder that, after the date hereof, acquires any Registrable Securities or Holdco
Ordinary Share Equivalents.

 

“Transactions”
means the transactions contemplated by the Business Combination Agreement.

 

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

 

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

 

“Valid Business
Reason” has the meaning set forth in Section 3(a) of this Agreement.

 

“Warrant Agreement”
means that certain warrant agreement, dated as of July 30, 2019, between Netfin and Continental Stock Transfer & Trust Company,
as warrant agent.

 

2. Grant
of Rights. The Company hereby grants registration rights to the Holders upon the terms and conditions set forth in this Agreement.

 

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3. Registration.

 

(a) Registration
Statement. The Company shall, as soon as practicable after the consummation of the Merger, but in any event within 90 days
after the consummation of the Merger, file a Registration Statement under the Securities Act to permit the public resale of all
the Registrable Securities held by the Holders from time to time as permitted by Rule 415 under the Securities Act (or any successor
or similar provision adopted by the Commission then in effect) on the terms and conditions specified in this Section 3(a) and
shall use its reasonable best efforts to cause such Registration Statement to be declared effective as soon as practicable after
the filing thereof, but in any event no later than the fifth Business Day after the date the Company is notified (orally or in
writing, whichever is earlier) by the Commission that such Registration Statement will not be “reviewed” or will not
be subject to further review. The Registration Statement filed with the Commission pursuant to this Section 3(a) shall
be on Form F-1 or such other form of registration statement as is then available to effect a registration for resale of such Registrable
Securities, covering such Registrable Securities, and shall contain a prospectus in such form as to permit any Holder to sell such
Registrable Securities pursuant to Rule 415 under the Securities Act (or any successor or similar provision adopted by the Commission
then in effect) at any time beginning on the effective date for such Registration Statement. If the initial Registration Statement
(the “Initial Shelf”) filed by the Company pursuant to this Section 3(a) is on Form F-1, upon the
Company becoming eligible to register the Registrable Securities for resale by the Holders on Form F-3, the Company shall use its
reasonable best efforts to amend the Initial Shelf to a Registration Statement on Form F-3 or file a Registration Statement on
Form F-3 in substitution of the Initial Shelf (the “Replacement F-3 Shelf”) and cause the Replacement F-3 Shelf
to be declared effective as soon as practicable thereafter. A Registration Statement filed pursuant to this Section 3(a) shall
provide for the resale pursuant to any method or combination of methods legally available to, and requested by, the Holders, subject
to any requirements under the Securities Act and the related rules and regulations to provide a supplement in connection with certain
types of offerings. The Company shall use its reasonable best efforts to cause a Registration Statement filed pursuant to this Section
3(a) to remain effective, and to be supplemented and amended to the extent necessary to ensure that such Registration Statement
is available or, if not available, that another registration statement is available, for the resale of all the Registrable Securities
held by the Holders until all such Registrable Securities have ceased to be Registrable Securities. As soon as practicable following
the effective date of a Registration Statement filed pursuant to this Section 3(a), but in any event within three Business
Days of such date, the Company shall notify the Holders of the effectiveness of such Registration Statement. When effective, a
Registration Statement filed pursuant to this Section 3(a) (including any documents incorporated therein by reference)
will comply as to form in all material respects with all applicable requirements of the Securities Act and to the extent applicable,
the Exchange Act, and will not contain an untrue statement of a material fact or omit to state a material fact required to be stated
therein or necessary to make the statements therein not misleading (in the case of any prospectus contained in such Registration
Statement, in the light of the circumstances under which such statement is made).

 

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(b) Postponement.
If the Board of Directors, in its good faith judgment, determines that any registration of Registrable Securities should not be
made or continued because it would (i) be seriously detrimental to the Company, (ii) require the disclosure of important confidential
information that the Company has a material business purpose for preserving as confidential or the disclosure of which would materially
impede the Company’s ability to consummate a significant transaction or (iii) require financial statements that are unavailable
to the Company for reasons beyond the Company’s reasonable control (a “Valid Business Reason”), then (1)
the Company may postpone filing a Registration Statement pursuant to Section 3(a) until such Valid Business Reason no longer exists,
but in no event for more than sixty (60) days; and (2) in case a Registration Statement has been filed pursuant to Section 3(a),
the Company may postpone amending or supplementing such Registration Statement or causing it to be declared effective and suspend
the use of the related prospectus. The Company shall give written notice to each Holder of its determination to postpone the filing,
amending or supplementing of a Registration Statement and of the fact that the Valid Business Reason for such postponement no longer
exists, in each case, promptly after the occurrence thereof. Notwithstanding anything to the contrary contained herein or elsewhere
in this Agreement, the Company may not postpone the filing, amending or supplementing of a Registration Statement under this Section
3(b) together with any postponement of filing or suspension of use of a Registration Statement pursuant to Section 4 more than
three times in any twelve (12) month period or for more than one hundred and twenty (120) days in the aggregate.

 

(c) Underwritten
Offering. In the event that any Holder elects to dispose of Registrable Securities under a Registration Statement pursuant
to an Underwritten Offering of all or part of such Registrable Securities that are registered by such Registration Statement, then
the Company shall, upon the written demand of Holders desiring to sell Registrable Securities with a value of more than $10,000,000
(the “Demanding Holders”), enter into an underwriting agreement in a form as is customary in Underwritten Offerings
of equity securities with the managing Underwriter or Underwriters selected by the Demanding Holders, subject to the consent of
the Company, which consent shall not be unreasonably withheld, and shall take all such other reasonable actions as are requested
by the managing Underwriter or Underwriters in order to expedite or facilitate the disposition of such Registrable Securities.
In addition, the Company shall give prompt written notice to each other Holder regarding such proposed Underwritten Offering, and
such notice shall offer such Holders the opportunity to include in the Underwritten Offering such number of Registrable Securities
as each such Holder may request. Each such Holder shall make such request in writing to the Company within five Business Days after
the receipt of any such notice from the Company, which request shall specify the number of Registrable Securities intended to be
disposed of by such Holder. Each Holder proposing to distribute its Registrable Securities through an Underwritten Offering pursuant
to this Section 3(c) shall enter into an underwriting agreement with the underwriters, which underwriting agreement shall
contain such representations, covenants, indemnities (subject to Section 8) and other rights and obligations as are customary
in underwritten offerings of equity securities; provided, however, that no such Holder shall be required
to make any representations or warranties to or agreements with the Company or the Underwriters other than representations, warranties
or agreements regarding such Holder’s authority to enter into such underwriting agreement and to sell, and its ownership
of, the securities being registered on its behalf, its intended method of distribution and any other representation required by
law. Notwithstanding anything else in this Section 3, the Company shall not be obligated to effect more than (i) three Underwritten
Offerings in any calendar year or (ii) two Underwritten Offering in any rolling six-month period.

 

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If the managing Underwriter
or Underwriters in an Underwritten Offering, in good faith, advise the Company and the Demanding Holders that the dollar amount
or number of Registrable Securities that the Demanding Holders desire to sell, taken together with all other Registrable Securities
or other equity securities that the Company or any other Holder desires to sell and the Holdco Ordinary Shares, if any, as to which
a Registration has been requested pursuant to separate written contractual piggy-back registration rights held by any other shareholders
who desire to sell, exceeds the maximum dollar amount or maximum number of equity securities that can be sold in the Underwritten
Offering without adversely affecting the proposed offering price, the timing, the distribution method, or the probability of success
of such offering (such maximum dollar amount or maximum number of such securities, as applicable, the “Maximum Number
of Securities”), then the Company shall include in such Underwritten Offering, as follows:

 

(i) first,
the Registrable Securities of the Demanding Holders pro rata based on the respective number of Registrable Securities that each
Demanding Holder has requested be included in such Underwritten Offering and the aggregate number of Registrable Securities that
the Demanding Holders have requested be included in such Underwritten Offering that can be sold without exceeding the Maximum Number
of Securities;

 

(ii) second,
to the extent that the Maximum Number of Securities has not been reached under the foregoing clause (i), pro rata to the Registrable
Securities of other Holders who have elected to participate in the Underwritten Offering pursuant to this Section which can be
sold without exceeding the Maximum Number of Securities;

 

(iii) third, to the extent
that the Maximum Number of Securities has not been reached under the foregoing clause (i) or clause (ii), to Holdco Ordinary Shares
held by persons or entities that the Company is obligated to register in a Registration pursuant to separate written contractual
arrangements with such persons, which collectively can be sold without exceeding the Maximum Number of Securities; and

 

(iv) fourth,
to the extent that the Maximum Number of Securities has not been reached under the foregoing clause (i) , clause (ii), or clause
(iii), Holdco Ordinary Shares or other equity securities that the Company desires to sell, which can be sold without exceeding
the Maximum Number of Securities.

 

A Demanding Holder shall
have the right to withdraw all or any portion of its Registrable Securities included in an Underwritten Offering pursuant to this
Section 3(c) for any or no reason whatsoever upon written notification to the Company and the Underwriter or Underwriters of its
intention to withdraw from such Underwritten Offering prior to the pricing of such Underwritten Offering and such withdrawn amount
shall no longer be considered an Underwritten Offering; provided that the Demanding Holder shall forfeit the right to request
a further underwritten offering within four (4) months of the withdrawn request unless the Demanding Holder pays (or reimburses
the Company) for all reasonable and documented Registration Expenses incurred in connection with such withdrawn Underwritten Offering;
provided further that if, at the time of such withdrawal, the Demanding Holder shall have learned of a material adverse
change in the condition, business, or prospects of the Company from that known to the Demanding Holder at the time of its request
and has withdrawn the request with reasonable promptness after learning of such information, then the Demanding Holder shall not
be required to pay any of such expenses and shall not forfeit their right to request an Underwritten Offering for the following
four (4) months.

 

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4.
Piggy-Back Registration.

 

(a) If
at any time the Company proposes to file a Registration Statement under the Securities Act with respect to an Underwritten Offering
of equity securities, or securities or other obligations exercisable or exchangeable for, or convertible into equity securities,
for its own account or for the account of shareholders of the Company (or by the Company and by the shareholders of the Company
including, without limitation, pursuant to Section 3 hereof) on a form that would permit registration of resale of the same type
of Registrable Securities, other than a Registration Statement (i) filed in connection with any employee stock option or other
benefit plan, (ii) for an exchange offer or offering of securities solely to the Company’s existing shareholders, (iii) for
an offering of debt that is convertible into or exchangeable for equity securities of the Company, (iv) for a dividend reinvestment
plan or (v) on Form F-4, then the Company shall give written notice of such proposed filing to all of the Holders of the type of
Registrable Securities included in such Registration Statements as soon as practicable but not less than ten days before the anticipated
filing date of such Registration Statement, which notice shall (A) describe the amount and type of securities to be included in
such offering, the intended method(s) of distribution, and the name of the proposed managing Underwriter or Underwriters, if any,
in such offering, and (B) offer to all of the Holders of the type of Registrable Securities proposed to be registered under the
applicable Registration Statement the opportunity to register the sale of such number of such type of Registrable Securities as
such Holders may request in writing within five days after receipt of such written notice (in the case of an “overnight”
or “bought” offering, such requests must be made by the Holders within three Business Days after the delivery of any
such notice by the Company) (such Registration a “Piggyback Registration”); provided, however,
that if the Company has been advised in writing by the managing Underwriter(s) that the inclusion of Registrable Securities for
sale for the benefit of the Holders will have an adverse effect on the price, timing or distribution of the Holdco Ordinary Shares
in the Underwritten Offering, then (1) if no Registrable Securities can be included in the Underwritten Offering in the opinion
of the managing Underwriter(s), the Company shall not be required to offer such opportunity to the Holders or (2) if any Registrable
Securities can be included in the Underwritten Offering in the opinion of the managing Underwriter(s), then the amount of Registrable
Securities to be offered for the accounts of Holders shall be determined based on the provisions of Section 4(b). Subject to Section
4(b), the Company shall, in good faith, cause such type of Registrable Securities to be included in such Piggyback Registration
and shall use its reasonable best efforts to cause the managing Underwriter or Underwriters of a proposed Underwritten Offering
to permit the Registrable Securities requested by the Holders pursuant to this Section 4(a) to be included in a Piggyback Registration
on the same terms and conditions as any similar securities of the Company included in such Registration and to permit the sale
or other disposition of such Registrable Securities in accordance with the intended method(s) of distribution thereof. If no written
request for inclusion from a Holder is received within the specified time, each such Holder shall have no further right to participate
in such Underwritten Offering. All such Holders proposing to distribute their Registrable Securities through an Underwritten Offering
under this Section 4 shall enter into an underwriting agreement in customary form with the Underwriter(s) selected for such Underwritten
Offering by the Company; provided, however, that no such Holder shall be required to make any representations or
warranties to or agreements with the Company or the Underwriters other than representations, warranties or agreements regarding
such Holder’s authority to enter into such underwriting agreement and to sell, and its ownership of, the securities being
registered on its behalf, its intended method of distribution and any other representation required by law.

 

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(b) Inclusion
of Shares. If the managing Underwriter or Underwriters in an Underwritten Offering that is to be a Piggyback Registration,
in good faith, advises the Company and the Holders of Registrable Securities participating in the Piggyback Registration in writing
that the dollar amount or number of Holdco Ordinary Shares that the Company desires to sell, taken together with (i) the Holdco
Ordinary Shares, if any, as to which Registration has been demanded pursuant to separate written contractual arrangements with
persons or entities other than the Holders of Registrable Securities hereunder, (ii) the Registrable Securities as to which registration
has been requested pursuant to Section 4(a), and (iii) the Holdco Ordinary Shares, if any, as to which Registration has been requested
pursuant to separate written contractual piggy-back registration rights of other shareholders of the Company, exceeds the Maximum
Number of Securities, then:

 

(i) if
the Registration is undertaken for the Company’s account, the Company shall include in any such Registration (A) first, Holdco
Ordinary Shares or other equity securities that the Company desires to sell, which can be sold without exceeding the Maximum Number
of Securities; (B) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing clause
(A), pro rata to the Registrable Securities of Holders exercising their rights to register their Registrable Securities pursuant
to Sections 3(c) and 4(a) hereof and (C) third, to the extent that the Maximum Number of Securities has not been reached under
the foregoing clauses (A) and (B), Holdco Ordinary Shares, if any, as to which Registration has been requested pursuant to written
contractual piggyback registration rights of other shareholders of the Company, which can be sold without exceeding the Maximum
Number of Securities;

 

(ii) if
the Registration is pursuant to a request by persons or entities other than the Holders of Registrable Securities, then the Company
shall include in any such Registration (A) first, Holdco Ordinary Shares or other equity securities, if any, of such requesting
persons or entities, other than the Holders of Registrable Securities, which can be sold without exceeding the Maximum Number of
Securities; (B) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing clause (A),
pro rata to the Registrable Securities of Holders exercising their rights to register their Registrable Securities pursuant to
Sections 3(c) and 4(a) hereof; (C) third, to the extent that the Maximum Number of Securities has not been reached under the foregoing
clauses (A) and (B), Holdco Ordinary Shares or other equity securities that the Company desires to sell, which can be sold without
exceeding the Maximum Number of Securities; and (D) fourth, to the extent that the Maximum Number of Securities has not been reached
under the foregoing clauses (A), (B) and (C), Holdco Ordinary Shares or other equity securities for the account of other persons
or entities that the Company is obligated to register pursuant to separate written contractual arrangements with such persons or
entities, which can be sold without exceeding the Maximum Number of Securities.

 

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(c) Withdrawal.
Any Holder of Registrable Securities shall have the right to withdraw from a Piggyback Registration for any or no reason whatsoever
upon written notification to the Company and the Underwriter or Underwriters (if any) of its intention to withdraw from such Piggyback
Registration prior to the pricing of such Underwritten Offering. The Company (whether on its own good faith determination or as
the result of a request for withdrawal by persons pursuant to separate written contractual obligations) may withdraw a Registration
Statement filed with the Commission in connection with a Piggyback Registration at any time prior to the effectiveness of such
Registration Statement. Notwithstanding anything to the contrary in this Agreement, the Company shall be responsible for the Registration
Expenses incurred in connection with the Piggyback Registration prior to its withdrawal under this Section 4(c).

 

5.
Holdback Agreement.

 

(a) Restrictions
on Public Sale by the Company. The Company agrees not to effect any public sale or distribution of any of its securities, or
any securities convertible into or exchangeable or exercisable for such securities (except pursuant to Registrations (i) filed
in connection with any employee stock option or other benefit plan, (ii) for an exchange offer or offering of securities solely
to the Company’s existing shareholders, (iii) for an offering of debt that is convertible into or exchangeable for equity
securities of the Company, (iv) for a dividend reinvestment plan or (v) on Form F-4), during the period beginning on the effective
date of any Registration Statement in which the Holders are participating or the pricing of any Underwritten Offering and ending
on (A) in the case of the effective date of a Registration Statement unrelated to an Underwritten Offering, the earlier of (i)
the date on which all Registrable Securities registered on such Registration Statement are sold and (ii) ninety (90) days after
the effective date of such Registration Statement (except as part of such registration) and (B) in the case of an Underwritten
Offering, ninety (90) days after the pricing of the Underwritten Offering (or such lessor period as may be permitted by the managing
Underwriter(s) of the Underwritten Offering).

 

(b) Restrictions
on Public Sale by Holders. In connection with any Underwritten Offering of Registrable Securities, except with the written
consent of the underwriters managing such offering, no Holder (irrespective of whether such Holder participates in such underwritten
offering) shall effect any sale or distribution (including sales pursuant to Rule 144) of equity securities of the Company, or
any securities convertible into or exchangeable or exercisable for such securities, without prior written consent from the Company
and the managing Underwriter or Underwriters for the offering, during the 90-day period beginning on the date of the pricing of
such offering (or such lesser period may be permitted by the Underwriters) (the “Shareholder Lockup Period”),
except as part of such offering, provided, that such Shareholder Lockup Period restrictions (i) are applicable on substantially
similar terms to the Company and all of its and its subsidiaries’ executive officers and directors and (ii) provide that
if any lockup agreement signed by a director, executive officer or any other Holder is terminated or waived by a Underwriter, the
relevant Shareholder Lockup Period shall be waived as well. Each Holder agrees to execute a lock-up agreement in favor of the Company’s
Underwriters to such effect and, in any event, that the Company’s Underwriters in any relevant offering shall be third party
beneficiaries of this Section 5(b). The provisions of this Section 5(b) will no longer apply to a Holder once such Holder ceases
to hold Registrable Securities.

 

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6.
Registration Procedures.

 

(a) Obligations
of the Company. If at any time on or after the date the Company consummates the Transactions the Company is required to effect
the Registration of the Registrable Securities, the Company shall use its reasonable best efforts to effect such Registration to
permit the sale of such Registrable Securities in accordance with the intended plan of distribution thereof, and pursuant thereto
the Company shall, as expeditiously as possible:

 

(i) prepare
and file with the Commission a Registration Statement on the appropriate form or which counsel for the Company shall deem appropriate
and which form shall be available for the sale of such Registrable Securities in accordance with the intended method of distribution
thereof, and use its reasonable best efforts to cause such Registration Statement to become effective; provided, however,
that (x) before filing a Registration Statement or prospectus or any amendments or supplements thereto, the Company shall provide
counsel selected by the Holders holding a majority of the Registrable Securities being registered in such registration (“Selling
Holders’ Counsel”) with a reasonable opportunity to review and provide reasonable comment on such Registration
Statement and each prospectus included therein (and each amendment or supplement thereto), subject to such documents being under
the Company’s control, and (y) the Company shall notify the Selling Holders’ Counsel and each seller of Registrable
Securities of any stop order issued or threatened by the Commission and take all action required to prevent the entry of such stop
order or to remove it if entered;

 

(ii) use
reasonable best efforts to prepare and file with the Commission such amendments and post-effective amendments to the Registration
Statement, and such supplements to the prospectus, as may be requested by the Holders or any Underwriter of Registrable Securities
or as may be required by the rules, regulations or instructions applicable to the registration form used by the Company or by the
Securities Act or rules and regulations thereunder to keep the Registration Statement effective until all Registrable Securities
covered by such Registration Statement cease to be Registrable Securities;

 

(iii) furnish
to each seller of Registrable Securities, prior to filing a Registration Statement, at least one copy of such Registration Statement
as is proposed to be filed, and thereafter such number of copies of such Registration Statement, each amendment and supplement
thereto (in each case excluding all exhibits thereto), the prospectus included in such Registration Statement (including each preliminary
prospectus), any other prospectus filed under Rule 424 under the Securities Act, (other than any documents incorporated by reference
into the Registration Statement or prospectus and any Free Writing Prospectus) as each such seller may reasonably request in order
to facilitate the disposition of the Registrable Securities owned by such seller. In addition, upon request, the Company shall
furnish to Selling Holder’s Counsel a copy of any and all transmittal letters or other correspondence to or received from,
the Commission or any other governmental entity or self-regulatory body or other body having jurisdiction (including any domestic
or foreign securities exchange) relating to such offering;

 

    11

     

    

 

(iv) register
or qualify such Registrable Securities under such other securities or “blue sky” laws of such jurisdictions as any
seller of Registrable Securities may request, and to continue such qualification in effect in such jurisdiction for as long as
permissible pursuant to the laws of such jurisdiction, or for as long as any Registration Statement is required to remain effective
in accordance with Section 6(a)(ii) above, whichever is shortest, and do any and all other acts and things which may be reasonably
necessary or advisable to enable any such seller to consummate the disposition in such jurisdictions of the Registrable Securities
owned by such seller; provided, however, that the Company shall not be required to (x) qualify generally to do business
in any jurisdiction where it would not otherwise be required to qualify but for this Section 6(a)(iv), (y) subject itself to taxation
in any such jurisdiction or (z) consent to general service of process in any such jurisdiction;

 

(v) notify
each seller of Registrable Securities (A) of any request of the Commission or any other governmental or regulatory body for any
amendment of or supplement to any Registration Statement or other document related to an offering and (B) upon discovery that,
or upon the happening of any event as a result of which, the prospectus included in such Registration Statement or any Free Writing
Prospectus contains an untrue statement of a material fact or omits to state any material fact required to be stated therein or,
in the case of any prospectus, necessary to make the statements therein, in light of the circumstances under which they were made,
not misleading, and in each such case, the Company shall promptly prepare a supplement or amendment to the Registration Statement,
the prospectus or Free Writing Prospectus, as the case may be, and furnish to each seller of Registrable Securities a reasonable
number of copies of such supplement to or an amendment of such Registration Statement, prospectus or Free Writing Prospectus, as
the case may be, as may be necessary so that, after delivery to the purchasers of such Registrable Securities, such prospectus
or Free Writing Prospectus, as the case may be, shall comply with the requests of the Commission or such other governmental or
regulatory body or shall not contain an untrue statement of a material fact or omit to state any material fact required to be stated
therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading;

 

(vi) enter
into and perform customary agreements (including an underwriting agreement in reasonable and customary form with Underwriter selected
by the Demanding Holders or the Underwriter selected by the Company, if any, as provided in Section 3 and Section 4, as the case
may be, provided that each Holder participating in such underwriting shall also enter into and perform its obligations under
such an agreement) and take such other actions as are prudent and reasonably required in order to expedite or facilitate the disposition
of such Registrable Securities;

 

    12

     

    

 

(vii) make
available at times and places reasonably acceptable to the Company for inspection by any seller of Registrable Securities, any
managing Underwriter participating in any disposition of such Registrable Securities pursuant to a Registration Statement, Selling
Holders’ Counsel and any attorney, accountant or other advisor retained by any such seller or any managing Underwriter (each,
an “Inspector” and collectively, the “Inspectors”), all financial and other records, pertinent
corporate documents and properties of the Company and its subsidiaries (collectively, the “Records”) as shall
be reasonably necessary to enable them to exercise their due diligence investigation, and cause the Company’s and its subsidiaries’
officers, directors and employees, and the independent registered public accountants of the Company, to supply all information
reasonably requested by any such Inspectors in connection with such Registration Statement; provided that any such seller
shall, and shall use commercially reasonable best efforts to cause any managing Underwriter and Inspector to, minimize the disruption
to the Company’s business in connection with the foregoing. Records and other information that the Company determines, in
good faith, to be confidential shall not be disclosed by the Inspectors (and the Inspectors shall confirm their agreement in writing
in advance to the Company if the Company shall so request) unless (x) the disclosure of such Records is necessary to avoid or correct
a misstatement or omission in the Registration Statement after consultation with the Company, (y) the release of such Records is
ordered pursuant to a subpoena or other order from a court of competent jurisdiction or (z) the information in such Records was
known to the Inspectors on a non-confidential basis prior to its disclosure by the Company or has been made generally available
to the public. Each seller of Registrable Securities agrees that it shall, upon learning that disclosure of such Records is sought
in a court of competent jurisdiction, give notice to the Company and allow the Company, at the Company’s expense, to undertake
appropriate action to prevent disclosure of the Records deemed confidential;

 

(viii) if
such sale is pursuant to an Underwritten Offering, obtain “cold comfort” letters dated the date of the related underwriting
agreement and the date of the closing under the underwriting agreement from the Company’s independent registered public accountants
and the independent registered public accountant that audited any other financial statements included in the Registration Statement
in customary form and covering such matters of the type customarily covered by “cold comfort” letters as the managing
underwriter reasonably requests;

 

(ix) furnish,
at the request of the Holders participating in the registration (which request shall be made through Selling Holder Counsel), on
the date such securities are delivered to the Underwriters for sale pursuant to such Registration or, if such securities are not
being sold through Underwriters, on the date of sale of such securities becomes effective, an opinion, dated such date, of counsel
representing the Company for the purposes of such Registration and a negative assurance letter, dated such date, addressed to the
underwriters, if any, and to the seller making such request, covering such legal matters with respect to the Registration in respect
of which such opinion and negative assurance letter is being given as the Underwriters, if any, and such seller may reasonably
request and are customarily included in such opinions and negative assurance letters;

 

(x) with
respect to each Free Writing Prospectus or other materials to be included in the Disclosure Package, ensure that no Registrable
Securities be sold “by means of” (as defined in Rule 159A(b) promulgated under the Securities Act) such Free Writing
Prospectus or other materials without the prior written consent of the holders of the Registrable Securities covered by such Registration
Statement, which Free Writing Prospectuses or other materials shall be subject to the review of Selling Holders’ Counsel;

 

    13

     

    

 

(xi) as
expeditiously as possible and within the deadlines specified by the Securities Act, make all required filings of all prospectuses
and Free Writing Prospectuses with the Commission;

 

(xii) as
expeditiously as possible and within the deadlines specified by the Securities Act, make all required filing fee payments in respect
of any Registration Statement or prospectus used under this Agreement (and any offering covered thereby);

 

(xiii) comply
in all material respects with all applicable rules and regulations of the Commission;

 

(xiv) use
reasonable best efforts to cause all such Registrable Securities to be listed on each securities exchange on which similar securities
issued by the Company are then listed;

 

(xv) keep
Selling Holders’ Counsel advised as to the initiation and progress of any registration under Section 3 or Section 4 hereunder;

 

(xvi) cooperate
with each seller of Registrable Securities and any Underwriter participating in the disposition of such Registrable Securities
and their respective counsel in connection with any filings required to be made with the relevant securities exchange or the Financial
Industry Regulatory Authority;

 

(xvii) promptly
incorporate in a prospectus supplement or post-effective amendment to the applicable Registration Statement such information as
the Underwriter selected by the Demanding Holders or the Underwriter selected by the Company, if any, and the Selling Holders Counsel
reasonably agree (with respect to the relevant class) should be included therein relating to the plan of distribution with respect
to such class of Registrable Securities; and make all required filings of such prospectus supplement or post-effective amendment
as promptly as reasonably practicable after being notified of the matters to be incorporated in such prospectus supplement or post-effective
amendment;

 

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

 

(xix) otherwise
use its reasonable best efforts to comply with all applicable rules and regulations of the Commission, and make available, as soon
as reasonably practicable, an earning statement covering the period of at least twelve months, but not more than eighteen months,
beginning with the first month after the effective date of the applicable registration statement, which earnings statement shall
satisfy the provisions of Section 11(a) of the Securities Act;

 

(xx) to
the extent reasonably requested (but in no event more than three times in any calendar year) by the Underwriter selected by the
Demanding Holders or the Underwriter selected by the Company, as the case may be, in connection with an Underwritten Offering,
send appropriate officers of the Company to attend any “road shows” scheduled in connection with any such underwritten
offering, with all out of pocket costs and expenses incurred by the Company or such officers in connection with such attendance
to be paid by the Company;

 

    14

     

    

 

(xxi) unless
the relevant securities are issued in book-entry form, furnish for delivery in connection with the closing of any offering of Registrable
Securities unlegended certificates representing ownership of the Registrable Securities being sold in such denominations as shall
be requested; and

 

(xxii) use
its commercially reasonable best efforts to take all other steps necessary to effect the registration of the Registrable Securities
contemplated.

 

(b)
Seller Information.

 

(i) It
shall be a condition precedent to the obligations of the Company to register the Registrable Securities of any Holder that such
Holder shall furnish to the Company such information regarding such Holder, the number of Registrable Securities held by them and
the manner of distribution of such securities as the Company may from time to time reasonably request in writing and as shall be
required in connection with any registration, qualification or compliance referred to in this Agreement.

 

(ii) In
connection with any offering under any Registration Statement under this Agreement, each Holder shall not use any Free Writing
Prospectus required to be filed with the Commission without the prior written consent of the Company.

 

(iii) In
connection with any Registration Statement in which a Holder is participating pursuant to Sections 3 or 4 hereof, each such Holder
shall promptly furnish to the Company in writing such information with respect to such Holder as the Company may reasonably request
or as may be required by law for use in connection with any such Registration Statement, prospectus or Free Writing Prospectus
and all information required to be disclosed by law or otherwise required to be disclosed in order to make the information previously
furnished to the Company by such Holder not materially misleading or necessary to cause such Registration Statement not to omit
a material fact with respect to such Holder necessary in order to make the statements therein not misleading.

 

(c) Notice
to Discontinue. Each Holder agrees that, upon receipt of any notice from the Company of the happening of any event of the kind
described in Section 6(a)(v) or if the Company shall exercise its rights to postpone a filing or a Registration Statement or suspend
the use of a prospectus pursuant to Section 3(b), such Holder shall forthwith discontinue disposition of Registrable Securities
pursuant to the Registration Statement covering such Registrable Securities until receipt of the copies of the supplemented or
amended prospectus or Free Writing Prospectus contemplated by Section 6(a)(v) or Section 3(b), as applicable, and, if so directed
by the Company, such Holder shall deliver to the Company (at the Company’s expense) all copies, other than permanent file
copies then in such Holder’s possession, of the prospectus or Free Writing Prospectus covering such Registrable Securities
which is current at the time of receipt of such notice. If the Company shall give any such notice, then the Company shall extend
the period during which such Registration Statement shall be maintained effective pursuant to this Agreement (including, without
limitation, the period referred to in Section 6(a)(ii)) by the number of days during the period from and including the date of
the giving of such notice pursuant to Section 6(a)(v) to and including the date when sellers of such Registrable Securities under
such Registration Statement shall have received the copies of the supplemented or amended prospectus or Free Writing Prospectus
contemplated by and meeting the requirements of Section 6(a)(v).

 

    15

     

    

 

(d) Registration
Expenses. The Company shall pay all reasonable expenses arising from or incident to its performance of, or compliance with,
this Agreement, including, without limitation: (i) Commission, securities exchange and Financial Industry Regulatory Authority
registration and filing fees; (ii) all fees and expenses incurred in complying with securities or “blue sky” laws (including
reasonable fees, charges and disbursements of counsel to any underwriter incurred in connection with “blue sky” qualifications
of the Registrable Securities as may be set forth in any underwriting agreement); (iii) all expenses in connection with the preparation,
printing, filing and delivery of the registration statement, any preliminary prospectus or final prospectus, any other offering
document and amendments and supplements thereto and the mailing and delivering of copies thereof to any underwriters and dealers;
(iv) the fees, charges and expenses of counsel to the Company and of its independent public accountants and any other accounting
fees, charges and expenses incurred by the Company (including, without limitation, any expenses arising from any “cold comfort”
letters or any special audits incident to or required by any registration or qualification); (v) all expenses with respect to a
road show that the Company is obligated to participate in pursuant to the terms of this Agreement; (vi) any liability insurance
or other premiums for insurance obtained for the benefit of Company (but not the Holders) in connection with any Registration or
offering pursuant to the terms of this Agreement, regardless of whether such Registration Statement is declared effective and (vii)
the reasonable fees and expenses of one Selling Holder’s Counsel for all the Holders participating in each Registration pursuant
to Sections 3 or 4 (selected by Holders of a majority of the Registrable Securities initially requesting such registration, and,
in the case of all other registrations, the holders of a majority of the Registrable Securities included in the Registration).
All of the expenses described in the preceding sentence of this Section 6(d) are referred to herein as “Registration Expenses.”
The holders of Registrable Securities sold pursuant to a Registration Statement shall bear the expense of any broker’s and
sales commission or underwriter’s discount or commission relating to registration and sale of such Registrable Securities.

 

7.
Indemnification; Contribution.

 

(a) Indemnification
by the Company. The Company agrees to indemnify and hold harmless each Holder, its partners, directors, officers, affiliates
and each Person who controls (within the meaning of Section 15 of the Securities Act) such Holder from and against any and all
losses, claims, damages, liabilities and expenses (including reasonable costs of investigation) (each, a “Liability”
and collectively, “Liabilities”), arising out of or based upon any untrue, or allegedly untrue, statement of
a material fact contained in any Registration Statement, prospectus, preliminary prospectus or Free Writing Prospectus or notification
or offering circular (as amended or supplemented if the Company shall have furnished any amendments or supplements thereto) or
otherwise included in the Disclosure Package or arising out of or based upon any omission or alleged omission to state therein
a material fact required to be stated therein or necessary to make the statements therein not misleading except insofar as such
Liability arises out of or is based upon any untrue statement or alleged untrue statement or omission or alleged omission contained
in such Registration Statement, preliminary prospectus, final prospectus or Free Writing Prospectus or otherwise included in the
Disclosure Package, in reliance and in conformity with information concerning such Holder furnished in writing to the Company by
such Holder expressly for use therein, including, without limitation, the information furnished to the Company pursuant to Section
6(b). The Company shall also provide customary indemnities to any underwriters of the Registrable Securities, their officers, directors
and employees and each Person who controls such underwriters (within the meaning of Section 15 of the Securities Act) to the same
extent as provided above with respect to the indemnification of the Holders.

 

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(b) Indemnification
by Holders. Each Holder agrees, severally and not jointly, to indemnify and hold harmless the Company, any underwriter retained
by the Company and each Person who controls the Company or such underwriter (within the meaning of Section 15 of the Securities
Act) to the same extent as the foregoing indemnity from the Company to the Holders, but only if such statement or alleged statement
or omission or alleged omission was made in reliance upon and in conformity with information with respect to such Holder furnished
in writing to the Company by such Holder expressly for use in such Registration Statement, prospectus or preliminary prospectus
or Free Writing Prospectus, or otherwise included in the Disclosure Package, including, without limitation, the information furnished
to the Company pursuant to this Section 6(b); provided, however, that the total amount to be indemnified by such
Holder pursuant to this Section 6(b) shall be limited to the net proceeds (after deducting the underwriters’ discounts and
commissions) received by such Holder in the offering to which the Registration Statement, prospectus or preliminary prospectus
or Free Writing Prospectus (or Disclosure Package otherwise) relates.

 

(c) Conduct
of Indemnification Proceedings. Any Person entitled to indemnification hereunder (the “Indemnified Party”)
agrees to give prompt written notice to the indemnifying party (the “Indemnifying Party”) promptly after the
Indemnified Party has actual knowledge of any action, suit, proceeding or investigation or threat thereof for which the Indemnified
Party intends to claim indemnification or contribution pursuant to this Agreement; provided, however, that the failure
so to notify the Indemnifying Party shall not relieve the Indemnifying Party of any Liability that it may have to the Indemnified
Party hereunder (except to the extent that the Indemnifying Party is materially prejudiced or otherwise forfeits substantive rights
or defenses by reason of such failure). If notice of commencement of any such action is given to the Indemnifying Party as provided
above, the Indemnifying Party shall have the option to assume the defense of such action or any litigation resulting therefrom
at its own expense, with counsel chosen by it and reasonably satisfactory to such Indemnified Party. The Indemnified Party shall
have the right to employ separate counsel in any such action and participate in the defense thereof, but the fees and expenses
of such counsel shall be paid by the Indemnified Party unless (i) the Indemnifying Party agrees to pay the same, (ii) the Indemnifying
Party fails to assume the defense of such action with counsel reasonably satisfactory to the Indemnified Party or (iii) the named
parties to any such action (including any impleaded parties) include both the Indemnifying Party and the Indemnified Party and
such parties have been advised by such counsel that either (x) representation of such Indemnified Party and the Indemnifying Party
by the same counsel would be inappropriate under applicable standards of professional conduct or (y) there may be one or more legal
defenses available to the Indemnified Party which are different from or additional to those available to the Indemnifying Party.
In any of such cases, the Indemnifying Party shall not have the right to assume the defense of such action on behalf of such Indemnified
Party, it being understood, however, that the Indemnifying Party shall not be liable for the fees and expenses of more than one
separate firm of attorneys (in addition to any local counsel) for all Indemnified Parties. No Indemnifying Party shall be liable
for any settlement entered into without its written consent, which consent shall not be unreasonably withheld. No Indemnifying
Party shall, without the consent of such Indemnified Party, effect any settlement of any pending or threatened proceeding in respect
of which such Indemnified Party is a party and indemnity has been sought hereunder by such Indemnified Party, unless such settlement
includes an unconditional release of such Indemnified Party from all liability for claims that are the subject matter of such proceeding.

 

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(d) Contribution.
If the indemnification provided for in this Section 7 from the Indemnifying Party is unavailable to an Indemnified Party hereunder
in respect of any Liabilities referred to herein, then the Indemnifying Party, in lieu of indemnifying such Indemnified Party,
shall contribute to the amount paid or payable by such Indemnified Party as a result of such Liabilities in such proportion as
is appropriate to reflect the relative fault of the Indemnifying Party and Indemnified Party in connection with the actions which
resulted in such Liabilities, as well as any other relevant equitable considerations. The relative faults of such Indemnifying
Party and Indemnified Party shall be determined by reference to, among other things, whether any action in question, including
any untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact, has been made
by, or relates to information supplied by, such Indemnifying Party or Indemnified Party, and the parties’ relative intent,
knowledge, access to information and opportunity to correct or prevent such action. The amount paid or payable by a party as a
result of the Liabilities referred to above shall be deemed to include, subject to the limitations set forth in Sections 7(a),
7(b) and 7(c), any legal or other fees, charges or expenses reasonably incurred by such party in connection with any investigation
or proceeding; provided that the total amount to be contributed by any Holder shall be limited to the net proceeds (after
deducting the underwriters’ discounts and commissions) received by such Holder in the offering.

 

The parties hereto agree
that it would not be just and equitable if contribution pursuant to this Section 7(d) were determined by pro rata allocation or
by any other method of allocation which does not take account of the equitable considerations referred to in the immediately preceding
paragraph. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be
entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. The obligations of the parties
under this Section 7 shall be in addition to any liability which any party may otherwise have to any other Person.

 

(e) For
the avoidance of doubt, the provisions of this Section 7 shall survive any termination of this Agreement.

 

(f) Each
of the indemnified Persons referred to in this Section 7 shall be a third party beneficiary of the rights conferred to such Person
in this Section.

 

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8.
Additional Covenants.

 

(a) Rule
144. The Company covenants that from and after the Registration of the Registrable Securities it shall use its reasonable best
efforts to (i) file any reports and other documents required to be filed by it under the Exchange Act in a timely manner and (ii)
take such further action as each Holder may reasonably request (including, without limitation, providing any information necessary
to comply with Rule 144 under the Securities Act), all to the extent required from time to time to enable the holders of Registrable
Securities to sell such securities without registration under the Securities Act within the limitation of the exemptions provided
by Rule 144 under the Securities Act, as such rule may be amended from time to time. The Company shall, upon the request of any
Holder, deliver to such holder a written statement as to whether it has complied with such requirements.

 

9.
Non-U.S. Listings.

 

In the event that the
Holdco Ordinary Shares or Holdco Warrants are listed on any securities exchange outside the United States, the Company shall (a)
use all reasonable and diligent efforts to cause all Registrable Securities to be approved for listing and freely tradeable on
such stock exchange, subject to any lock-ups required pursuant to the rules and regulations of the relevant exchange or applicable
securities law and (b) furnish to the Holders such number of copies of prospectuses, Free Writing Prospectuses and such other documents
as they may reasonably request to facilitate the disposition of Registrable Securities by the Holders on such exchange.

 

10.
Miscellaneous.

 

(a) Recapitalizations,
Exchanges, etc. The provisions of this Agreement shall apply to the full extent set forth herein with respect to (i) the Holdco
Ordinary Shares and Holdco Warrants, (ii) any and all voting shares of the Company into which the Holdco Ordinary Shares are converted,
exchanged or substituted in any recapitalization or other capital reorganization by the Company and any related depositary shares
or receipts and (iii) any and all equity securities of the Company or any successor or assign of the Company (whether by merger,
consolidation, sale of assets or otherwise) which may be issued in respect of, in conversion of, in exchange for or in substitution
of, the Holdco Ordinary Shares and shall be appropriately adjusted for any stock dividends, splits, reverse splits, combinations,
recapitalizations and the like occurring after the date hereof. The Company shall cause any successor or assign (whether by merger,
consolidation, sale of assets or otherwise) to enter into a new registration rights agreement with the Holders on terms substantially
the same as this Agreement as a condition of any such transaction.

 

(b) No
Inconsistent Agreements. Other than the registration rights included in the Warrant Agreement, the Company represents and warrants
that it has not granted to any Person the right to request or require the Company to register any securities issued by the Company,
other than the rights granted herein. The Company shall not enter into any agreement with respect to its securities that is inconsistent
with the rights granted to the Holders in this Agreement or grant any additional registration rights to any Person or with respect
to any securities which are not Registrable Securities which are prior in right to or inconsistent with the rights granted in this
Agreement.

 

    19

     

    

 

(c) Remedies.
The Holders, in addition to being entitled to exercise all rights granted by law, including recovery of damages, shall be entitled
to specific performance of their rights under this Agreement. The Company agrees that monetary damages would not be adequate compensation
for any loss incurred by reason of a breach by it of the provisions of this Agreement and hereby agrees to waive in any action
for specific performance the defense that a remedy at law would be adequate.

 

(d) Amendments
and Waivers. Except as otherwise provided herein, the provisions of this Agreement may not be amended, modified or supplemented,
and waivers or consents to departures from the provisions hereof may not be given unless consented to in writing by (i) the Company,
(ii) each of the Holders and (iii) the Holders of a majority of Registrable Securities not held by the Holders. Any such written
consent shall be binding upon the Company and all of the Holders. Notwithstanding the first sentence of this Section 10(d), the
Company, without the consent of any other party hereto, may amend this Agreement to add any Subsequent Purchaser as a party to
this Agreement as a Holder.

 

(e) Notices.
All notices, demands and other communications provided for or permitted hereunder shall be made in writing and shall be made by
registered or certified first- class mail, return receipt requested, facsimile, courier service or personal delivery:

 

		(i)	if to the Company:

 

9 Raffles Place, #23-04 Republic
Plaza

Singapore 048619

Phone: +65 6661 9240

Attention: Srinivas Koneru

 

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

 

c/o Milbank LLP

55 Hudson Yards

New York, NY 10001

Phone: (212) 530-5000

Attention: Giles Kennedy, Brett
Nadritch

 

		(ii)	if to IKON:

 

c/o Services Cayman Limited

P.O. Box 10008

Willow House, Cricket Square

Grand Cayman, KY1-1001

Cayman Islands

Attention: Srinivas Koneru

 

    20

     

    

 

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

 

c/o Milbank LLP

55 Hudson Yards

New York, NY 10001

Phone: (212) 530-5000

Attention: Giles Kennedy, Brett
Nadritch

 

		(iii)	If to SSOL:

 

42 Hotel Street 3rd Floor

GFin Tower Cybercity

Ebene, Mauritius

Attention: Srinivas Koneru

 

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

 

c/o Milbank LLP

55 Hudson Yards

New York, NY 10001

Phone: (212) 530-5000

Attention: Giles Kennedy, Brett
Nadritch

 

		(iv)	if to Netfin or the Netfin Representative:

 

100 Crescent Court

#700

Dallas, TX 75201

Attention: Marat Rosenberg

 

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

 

c/o White & Case LLP

1221 Avenue of the Americas

New York, NY 10020

Fax: (212) 354-8113

Attention: Elliott Smith

 

		(v)	if to Mr. Jaskel:

 

2 Brownlow Court

Lyttleton Road

London

N2 0EA

England

Attention: Martin Jaskel

 

    21

     

    

 

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

 

c/o White & Case LLP

1221 Avenue of the Americas

New York, NY 10020

Fax: (212) 354-8113

Attention: Elliott Smith

 

		(vi)	if to Mr. Maurer:

 

Suite 100

12600 Deerfield Parkway

Alpharetta, GA 30004

Attention: Rick Maurer

 

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

 

c/o White & Case LLP

1221 Avenue of the Americas

New York, NY 10020

Fax: (212) 354-8113

Attention: Elliott Smith

 

		(vii)	if to Mr. Rosenberg:

 

100 Crescent Court

#700

Dallas, TX 75201

Attention: Marat Rosenberg

 

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

 

c/o White & Case LLP

1221 Avenue of the Americas

New York, NY 10020

Fax: (212) 354-8113

Attention: Elliott Smith

 

		(viii)	if to Mr. Komissarov:

 

255 W 85th St

New York, NY 10024

Attention: Vadim Komissarov

 

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

 

c/o White & Case LLP

1221 Avenue of the Americas

New York, NY 10020

Fax: (212) 354-8113

Attention: Elliott Smith

 

All such
notices, demands and other communications shall be deemed to have been duly given when delivered by hand, if personally delivered;
when delivered by courier, if delivered by commercial courier service; five (5) Business Days after being deposited in the mail,
postage prepaid, if mailed; and when receipt is mechanically acknowledged, if sent by facsimile. Any party may by notice given
in accordance with this Section 10(e) designate another address or Person for receipt of notices hereunder.

 

(f) Successors
and Assigns; Third Party Beneficiaries. This Agreement shall inure, as hereinafter provided, to the benefit of and be binding
upon the successors and permitted assigns of the parties hereto who execute the joinder agreement in the form attached as Schedule
1 hereto (the “Joinder Agreement”). The registration rights of the Holders contained in this Agreement and
the other rights of each of the Holders with respect thereto shall be, with respect to any Registrable Security, automatically
transferred to any Person who is the transferee of such Registrable Security that has signed a Joinder Agreement. All of the obligations
of the Company hereunder shall survive any such transfer. Except as provided in Section 8, no Person other than the parties hereto
and their successors and permitted assigns is intended to be a beneficiary of this Agreement.

 

(g) Counterparts.
This Agreement may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which
when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement.
Delivery of an executed counterpart of a signature page of this Agreement by facsimile shall be as effective as delivery of a manually
executed counterpart of a signature page of this Agreement.

 

(h) Headings.
The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof.

 

(i) GOVERNING
LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS
OF THE STATE OF NEW YORK, UNITED STATES OF AMERICA, WITHOUT REGARD TO THE
PRINCIPLES OF CONFLICTS OF LAW THEREOF. The parties hereto irrevocably submit to the exclusive
jurisdiction of any federal court sitting in the County of New York, in the State of New York over any suit, action or proceeding
arising out of or relating to this Agreement or the affairs of the Company. To the fullest extent they may effectively do so under
applicable law, the parties hereto irrevocably waive and agree not to assert, by way of motion, as a defense or otherwise, any
claim that they are not subject to the jurisdiction of any such court, any objection that they may now or hereafter have to the
laying of the venue of any such suit, action or proceeding brought in any such court and any claim that any such suit, action or
proceeding brought in any such court has been brought in an inconvenient forum.

 

    23

     

    

 

(j) WAIVER
OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY
HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS
AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. EACH OF THE PARTIES HERETO HEREBY (A) CERTIFIES THAT NO REPRESENTATIVE,
AGENT OR ATTORNEY OF THE OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF
LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND
THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT, AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN
THIS SECTION 10(j).

 

(k) Severability.
If any one or more of the provisions contained herein, or the application thereof in any circumstance, is held invalid, illegal
or unenforceable in any respect for any reason, the validity, legality and enforceability of any such provision in every other
respect and of the remaining provisions hereof shall not be in any way impaired, unless the provisions held invalid, illegal or
unenforceable shall substantially impair the benefits of the remaining provisions hereof.

 

(l) Rules
of Construction. Unless the context otherwise requires, references to sections or subsections refer to sections or subsections
of this Agreement.

 

(m) Entire
Agreement. This Agreement is intended by the parties as a final expression of their agreement and intended to be a complete
and exclusive statement of the agreement and understanding of the parties hereto with respect to the subject matter contained herein.
There are no restrictions, promises, representations, warranties or undertakings with respect to the subject matter contained herein,
other than those set forth or referred to herein. This Agreement supersedes all prior agreements and understandings among the parties
with respect to such subject matter.

 

(n) Further
Assurances. Each of the parties shall execute such documents and perform such further acts as may be reasonably required or
desirable to carry out or to perform the provisions of this Agreement.

 

(o) Other
Agreements. Nothing contained in this Agreement shall be deemed to be a waiver of, or release from, any obligations any party
hereto may have under, or any restrictions on the transfer of Registrable Securities or other securities of the Company imposed
by, any other agreement including, but not limited to, the Business Combination Agreement.

 

[Remainder of page intentionally left blank]

 

    24

     

    

 

IN WITNESS WHEREOF,
the undersigned have executed, or have caused to be executed, this Registration Rights Agreement on the date first written above.

 

	 	TRITERRAS, INC.

 

	 	By: 	/s/ Srinivas Koneru
	 	Name:	Srinivas Koneru
	 	Title:	Chief Executive Officer

 

	 	SYMPHONIA STRATEGIC OPPORTUNITIES LIMITED

 

	 	By: 	/s/ Srinivas Koneru
	 	Name:	Srinivas Koneru
	 	Title:	Authorized Signatory

 

	 	IKON STRATEGIC HOLDINGS FUND

 

	 	By: 	/s/ Srinivas Koneru
	 	Name:	Srinivas Koneru
	 	Title:	Authorized Signatory

 

 

Signature Page to Registration Rights
Agreement

 

    

     

    

 

	 	NETFIN ACQUISITION CORP.

 

	 	By: 	/s/ Richard Maurer
	 	Name:	Richard Maurer
	 	Title:	Chief Executive Officer

 

	 	MVR NETFIN LLC

 

	 	By: 	/s/ Richard Maurer
	 	Name:	Richard Maurer
	 	Title:	Manager

 

	 	By: 	/s/ Richard Maurer
	 	Name:	Richard Maurer
	 	 	 
	 	By: 	/s/ Marat Rosenberg
	 	Name:	Marat Rosenberg
	 	 	 
	 	By: 	/s/ Martin Jaskel
	 	Name:	Martin Jaskel
	 	 	 
	 	By: 	/s/ Vadim Komissarov
	 	Name:	Vadim Komissarov

 

 

Signature Page to Registration Rights
Agreement

 

    

     

    

 

Schedule 1

FORM OF JOINDER

 

THIS JOINDER is made on the                 day
of

 

BETWEEN

 

(1) [        ]
of [        ] (the “New Party”);

 

AND

 

(2) THE PERSONS WHOSE NAMES ARE
SET OUT IN SCHEDULE 1 HERETO (collectively the “Current Parties” and individually a “Current
Party”); AND

 

(3) Triterras,
Inc., a Cayman Islands exempted company and having its registered address at 9 Raffles Place, #23-04 Republic Plaza, Singapore
048619 (the “Company”).

 

WHEREAS a Registration Rights Agreement
was entered into on November 10, 2020 by and among, inter alia, the Current Parties and the Company (the “Registration
Rights Agreement”), a copy of which the New Party hereby confirms that it has been supplied with and acknowledges the
terms therein.

 

NOW IT IS AGREED as follows:

 

		1.	In this Joinder, unless the context otherwise requires, words and expressions respectively defined
or construed in the Registration Rights Agreement shall have the same meanings when used or referred to herein.

 

		2.	The New Party hereby accedes to and ratifies the Registration Rights Agreement and covenants and
agrees with the Current Parties and the Company to be bound by the terms of the Registration Rights Agreement as a Holder and as
if it had been a party thereto from the outset and to duly and punctually perform and discharge all liabilities and obligations
whatsoever from time to time to be performed or discharged by it under or by virtue of the Registration Rights Agreement in all
respects as if named as a party therein.

 

		3.	Each of the Current Parties and the Company covenants and agrees that the New Party shall be entitled
to all the benefits of the terms and conditions of the Registration Rights Agreement to the intent and effect that the New Party
shall be deemed, with effect from the date on which the New Party is executes this Joinder, to be a party to the Registration Rights
Agreement as a Holder.

 

		4.	This Joinder shall hereafter be read and construed in conjunction and as one document with the
Registration Rights Agreement and references in the Registration Rights Agreement to “the Agreement” or “this
Agreement”, and references in all other instruments and documents executed thereunder or pursuant thereto to the Registration
Rights Agreement, shall for all purposes refer to the Registration Rights Agreement incorporating and as supplemented by this Joinder.

 

    

     

    

 

		5.	THIS JOINDER SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAW THEREOF. The
parties hereto irrevocably submit to the exclusive jurisdiction of any state or federal court sitting in the County of New York,
in the State of New York over any suit, action or proceeding arising out of or relating to this Agreement or the affairs of the
Company. To the fullest extent they may effectively do so under applicable law, the parties hereto irrevocably waive and agree
not to assert, by way of motion, as a defense or otherwise, any claim that they are not subject to the jurisdiction of any such
court, any objection that they may now or hereafter have to the laying of the venue of any such suit, action or proceeding brought
in any such court and any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient
forum.

  

	6.	Section 10(j) of the Registration Rights Agreement shall apply to this Joinder
and shall be incorporated herein by reference.

 

	7.	The address of the undersigned for purposes of all notices under the Registration
Rights Agreement is: [                ].

 

	 	[NEW PARTY]

 

	 	By:	                                             
	 	Name:
	 	Title:crsr-ex42_448.htm

 

Exhibit 4.2

INVESTOR RIGHTS AGREEMENT

by and among

CORSAIR GAMING, INC.

and

CORSAIR GROUP (CAYMAN), LP

 

 

Dated September 22, 2020

 

 

 

 

 

 

TABLE OF CONTENTS

 

	
 
	
 
	
 
	
Page

	
 
	
 
	
 
	
 

	
ARTICLE I
	
 
	
INTRODUCTORY MATTERS
	
 
	
1

	
 
	
 
	
 
	
 

	
1.1
	
 
	
Defined Terms
	
 
	
1

	
 
	
 
	
 
	
 

	
1.2
	
 
	
Construction
	
 
	
2

	
 
	
 
	
 
	
 

	
ARTICLE II
	
 
	
BOARD OF DIRECTORS
	
 
	
3

	
 
	
 
	
 
	
 

	
2.1
	
 
	
Election of Directors
	
 
	
3

	
 
	
 
	
 
	
 

	
2.2
	
 
	
Committee Membership
	
 
	
4

	
 
	
 
	
 
	
 

	
2.3
	
 
	
Chairman of the Board
	
 
	
4

	
 
	
 
	
 
	
 

	
2.4
	
 
	
Size of Board
	
 
	
4

	
 
	
 
	
 
	
 

	
2.5
	
 
	
Amendments to the Charter and Bylaws
	
 
	
4

	
 
	
 
	
 
	
 

	
2.6
	
 
	
Fees
	
 
	
4

	
 
	
 
	
 
	
 

	
ARTICLE III
	
 
	
INFORMATION
	
 
	
5

	
 
	
 
	
 
	
 

	
3.1
	
 
	
Books and Records; Access
	
 
	
5

	
 
	
 
	
 
	
 

	
3.2
	
 
	
Sharing of Information
	
 
	
5

	
 
	
 
	
 
	
 

	
ARTICLE IV
	
 
	
GENERAL PROVISIONS
	
 
	
6

	
 
	
 
	
 
	
 

	
4.1
	
 
	
Termination
	
 
	
6

	
 
	
 
	
 
	
 

	
4.2
	
 
	
Notices
	
 
	
6

	
 
	
 
	
 
	
 

	
4.3
	
 
	
Amendment; Waiver
	
 
	
6

	
 
	
 
	
 
	
 

	
4.4
	
 
	
Further Assurances
	
 
	
6

	
 
	
 
	
 
	
 

	
4.5
	
 
	
Assignment
	
 
	
6

	
 
	
 
	
 
	
 

	
4.6
	
 
	
Third Parties
	
 
	
6

	
 
	
 
	
 
	
 

	
4.7
	
 
	
Governing Law
	
 
	
6

	
 
	
 
	
 
	
 

	
4.8
	
 
	
Jurisdiction; Waiver of Jury Trial
	
 
	
7

	
 
	
 
	
 
	
 

	
4.9
	
 
	
Specific Performance
	
 
	
7

	
 
	
 
	
 
	
 

	
4.10
	
 
	
Entire Agreement
	
 
	
7

	
 
	
 
	
 
	
 

	
4.11
	
 
	
Severability
	
 
	
7

	
 
	
 
	
 
	
 

	
4.12
	
 
	
Table of Contents, Headings and Captions
	
 
	
7

	
 
	
 
	
 
	
 

	
4.13
	
 
	
Counterparts
	
 
	
7

	
 
	
 
	
 
	
 

	
4.14
	
 
	
Effectiveness
	
 
	
7

	
 
	
 
	
 
	
 

	
4.15
	
 
	
No Recourse
	
 
	
7

 

 

 

- i -

 

INVESTOR RIGHTS AGREEMENT

This Investor Rights Agreement is entered into on September 22, 2020 by and among Corsair Gaming, Inc., a Delaware corporation (the “Company”), and Corsair Group (Cayman), LP, a Cayman Islands exempted limited partnership (“Corsair LP”).

RECITALS:

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

WHEREAS, in connection with, and effective upon, the date of commencement of trading of the Company’s Common Stock on a national securities exchange (the “Effective Date”), the Company and Corsair LP wish to set forth certain understandings between such parties, including with respect to certain governance matters.

NOW, THEREFORE, the parties agree as follows:

ARTICLE I

INTRODUCTORY MATTERS

	
 
	
4.15
	
Defined Terms. In addition to the terms defined elsewhere herein, the following terms have the following meanings when used herein with initial capital letters:

“Affiliate” means a Person that directly, or indirectly through one or more intermediaries, Controls, or is Controlled by, or is under common Control with, another Person. In respect of EagleTree, “Affiliate” shall mean any Person that, directly or indirectly, is Controlled by EagleTree, Controls EagleTree, or is under common Control with EagleTree, and shall include any principal, member, director, partner, stockholder, officer, employee or other representative of any of the foregoing (other than the Company and any entity that is Controlled by the Company).

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

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

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

“Business Day” means a day other than a Saturday, Sunday, federal or New York State holiday or other day on which commercial banks in New York City are authorized or required by law to close.

“Bylaws” means the Amended and Restated Bylaws of the Company, as the same may be amended and/or restated from time to time.

 “Charter” means the Second Amended and Restated Certificate of Incorporation of the Company, as the same may be amended and/or restated from time to time.

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

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

 

 

 

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

“Director” means any member of the Board.

“EagleTree” means, collectively, Corsair LP, together with its Affiliates and its and their successors and assigns (other than the Company and its Subsidiaries).

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

“Effective Date” has the meaning set forth in the Recitals.

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

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

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

“Permitted Assigns” means with respect to EagleTree, a Transferee of shares of Common Stock that agrees to become party to, and to be bound to the same extent as its Transferor by the terms of, this Agreement.

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

“Subsidiary” means, with respect to any Person, any corporation, limited liability company, partnership, association or other business entity of which: (i) if a corporation, a majority of the total voting power of shares of stock entitled to vote in the election of directors, representatives or trustees thereof is at the time owned or Controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination thereof; or (ii) if a limited liability company, partnership, association or other business entity, a majority of the total voting power of stock (or equivalent ownership interest) of the limited liability company, partnership, association or other business entity is at the time owned or Controlled, directly or indirectly, by any Person or one or more Subsidiaries of that Person or a combination thereof. For purposes hereof, a Person or Persons shall be deemed to have a majority ownership interest in a limited liability company, partnership, association or other business entity if such Person or Persons shall be allocated a majority of limited liability company, partnership, association or other business entity gains or losses or shall be or Control the managing member, managing director or other governing body or general partner of such limited liability company, partnership, association or other business entity.

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

1.2 Construction. Interpretation of this Agreement shall be governed by the following rules of construction. Unless the context otherwise requires: (a) references to the terms Article, Section, paragraph and Exhibit are 

 

- 2 -

 

references to the Articles, Sections, paragraphs and Exhibits to this Agreement unless otherwise specified; (b) the terms “hereof,” “herein,” “hereby,” “hereto,” and derivative or similar words refer to this entire Agreement, including Exhibits hereto; (c) references to “$” or “Dollars” shall mean United States dollars; (d) the words “include,” “includes,” “including” and words of similar import when used in this Agreement shall mean “including without limitation,” unless otherwise specified; (e) the word “or” shall not be exclusive; (f) references to “written” or “in writing” include in electronic form; (g) provisions shall apply, when appropriate, to successive events and transactions; (h) the headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement; (i) the parties have participated in the negotiation and drafting of this Agreement and if an ambiguity or question of interpretation should arise, this Agreement shall be construed as if drafted jointly by the parties thereto and no presumption or burden of proof shall arise favoring or burdening either party by virtue of the authorship of any of the provisions in this Agreement; (j) a reference to any Person includes such Person’s permitted successors and assigns; (k) references to “days” mean calendar days unless Business Days are expressly specified; (l) the word “will” shall be construed to have the same meaning and effect as the word “shall”; (m) the terms “party”, “party hereto”, “parties” and “party hereto” shall mean a party to this Agreement and the parties to this Agreement, as applicable, unless otherwise specified; (n) with respect to the determination of any period of time, “from” means “from and including”; and (o) any deadline or time period set forth in this Agreement that by its terms ends on a day that is not a Business Day shall be automatically extended to the next succeeding Business Day. Any agreement, instrument or statute defined or referred to herein means such agreement, instrument or statute as from time to time may be amended, supplemented, restated or modified, including (in the case of agreements or instruments) by waiver or consent and (in the case of statutes) by succession of comparable successor statutes.

ARTICLE II

BOARD OF DIRECTORS

2.1 Election of Directors.

(a) Following the Effective Date, Corsair LP shall have the right, but not the obligation, to nominate to the Board a number of designees equal to (i) five Directors, so long as EagleTree beneficially owns, in the aggregate, 50% or more of the shares of Common Stock, (ii) four Directors, in the event that EagleTree beneficially owns, in the aggregate, 40% or more, but less than 50%, of the shares of Common Stock, (iii) three Directors, in the event that EagleTree beneficially owns, in the aggregate, 30% or more, but less than 40%, of the shares of Common Stock , (iv) two Directors, in the event that EagleTree beneficially owns, in the aggregate, 20% or more, but less than 30%, of the shares of Common Stock and (v) one Director, in the event that EagleTree beneficially owns, in the aggregate, 10% or more, but less than 20%, of the shares of Common Stock. Corsair LP shall not have the right to nominate any designees to the Board in the event that EagleTree beneficially owns, in the aggregate, less than 10% of the outstanding shares of Common Stock. In the event of any increase or decrease in the size of the Board consistent with the requirements of Section 2.4 of this Agreement, the number of Directors for which Corsair LP shall have the right to nominate to the Board pursuant to this Section 2.1(a) shall be automatically adjusted proportionately as closely as possible (rounding up to the next whole Director where necessary) to reflect the proportionate rights of Corsair LP to nominate Directors based on EagleTree’s beneficial ownership of the shares of Common Stock set forth in clauses (i), (ii), (iii) and (iv) above. The Board shall set forth the determination of such changes consistent with this Section 2.1(a) in its resolution or resolutions effectuating the change in size of the Board and such terms shall automatically be incorporated herein without further action on behalf of the parties hereto.

(b) The Company agrees, to the fullest extent permitted by applicable law, to take all necessary and desirable actions (subject to any applicable stock exchange or listing requirements) to include in the slate of nominees recommended by the Board for election at any meeting of stockholders called for the purpose of electing directors the persons designated pursuant to this Section 2.1 and to nominate and recommend each such individual to be elected as a Director as provided herein, and to solicit proxies or consents in favor thereof. The Company is entitled, solely for the purposes set forth in this Section 2.1(b), to identify such individual as an EagleTree Designee pursuant to this Agreement.

 

- 3 -

 

I In the event that Corsair LP has nominated fewer than the total number of designees Corsair LP shall be entitled to nominate pursuant to Section 2.1(a), Corsair LP shall have the right, at any time, to nominate such additional designees to which it is entitled, in which case, the Company and the Directors shall take all necessary corporate action, to the fullest extent permitted by applicable law, to (x) enable Corsair LP to nominate and effect the election or appointment of such additional individuals, whether by increasing the size of the Board or otherwise, and (y) to effect the election or appointment of such additional individuals nominated by Corsair LP to fill such newly-created directorships or to fill any other existing vacancies. Each such person whom EagleTree actually nominates pursuant to this Section 2.1 and whom is thereafter elected to the Board to serve as a Director shall be referred to herein as an “EagleTree Designee”.

(d) In the event that a vacancy is created at any time by the death, retirement or resignation of any EagleTree Designee, the remaining Directors and the Company shall, to the fullest extent permitted by applicable law, take all actions necessary at any time and from time to time to cause the vacancy created thereby to be filled by a new designee of Corsair LP, as soon as possible. Such new designee will be chosen by a majority of the EagleTree Designees on the Board at that time or, if there are none, by Corsair LP.

2.2 Committee Membership. So long as EagleTree beneficially owns, in the aggregate, 20% or more of the shares of Common Stock, the Company shall take all necessary and desirable actions to cause each of the Compensation Committee and the Nominating and Corporate Governance Committee to include in its membership at least one of the EagleTree Designees. Such EagleTree Designee committee member will be chosen by Corsair LP, except to the extent such membership would violate applicable federal securities laws or the listing requirements of any national securities exchange on which the Company’s securities are then listed.

2.3 Chairman of the Board. So long as EagleTree beneficially owns, in the aggregate, 20% or more of the shares of Common Stock, Corsair LP shall have the right to designate the Chairman of the Board from among the EagleTree Designees. For the avoidance of doubt, if EagleTree beneficially owns, in the aggregate, less than 20% of the shares of Common Stock, the Chairman of the Board is not required by this Agreement to be an EagleTree Designee.

2.4 Size of Board. As of the Effective Date, the Board shall have established by resolution that the total number of Directors constituting the Board on the Effective Date shall be eight. So long as EagleTree beneficially owns, in the aggregate, 20% or more of the shares of Common Stock, any increases or decreases to the size of the Board will require approval by at least a majority of the EagleTree Designees then serving as Directors or, if no EagleTree Designee is then serving as a Director, the written approval of Corsair LP.

2.5 Amendments to the Charter and Bylaws. So long as EagleTree beneficially owns, in the aggregate, 50% or more of the shares of Common Stock, the Board shall not take any action to cause the Company to amend the provisions in the Charter or Bylaws:

(a) providing that Directors may be removed with or without cause upon majority vote of the outstanding shares of Common Stock;

(b) changing the size of the Board;

I providing for stockholder action by written consent when EagleTree beneficially owns, in the aggregate, 50% or more of the shares of Common Stock; or

(d) providing for the ability to call special meetings of stockholders when EagleTree beneficially owns, in the aggregate, 50% or more of the shares of Common Stock.

2.6 Fees. For so long as the Company is a “controlled company” for purposes of the stock exchange rules, the EagleTree Designees shall not receive any compensation from the Company for their service as directors of the Board (including for service as chairman of the Board) or members of committees of the Board (including for service as chairman of any committee). However, the Company shall pay the reasonable out-of-pocket expenses incurred by each EagleTree Designee in connection with performing his or her duties as a member of the Board or any committee thereof, including the reasonable out-of-pocket expenses incurred by such person for attending meetings of the Board or any committee thereof or meetings of any board of directors or other similar managing body (and any committee thereof) of any Subsidiary of the Company. In addition, the Company will reimburse 

 

- 4 -

 

EagleTree for reasonable travel and other out-of-pocket expenses incurred by employees of EagleTree as it relates to Company matters and incurred at the request of the EagleTree Designees; provided that such amount shall not include salaries of such employees, any EagleTree overhead or any costs that are not directly related to Company matters.

ARTICLE III

INFORMATION

3.1 Books and Records; Access. The Company shall, and shall cause its Subsidiaries to, keep proper books, records and accounts, in which full and correct entries shall be made of all financial transactions and the assets and business of the Company and each of its Subsidiaries in accordance with generally accepted accounting principles. For so long as (x) no EagleTree Designee is then serving as a Director, and (y) EagleTree beneficially owns 3 % or more of the outstanding shares of Common Stock, the Company shall, and shall cause its Subsidiaries to, permit Corsair LP and its designated representatives, at reasonable times and upon reasonable prior notice to the Company, to inspect, review and/or make copies and extracts from the books and records of the Company or any of such Subsidiaries and to discuss the affairs, finances and condition of the Company or any of such Subsidiaries with the officers of the Company or any such Subsidiary. For so long as (x) no EagleTree Designee is then serving as a Director, and (y) EagleTree beneficially owns 3% or more of the outstanding shares of Common Stock, the Company, upon the written request of Corsair LP, shall, and shall cause its Subsidiaries to, provide Corsair LP, in addition to other information that might be reasonably requested by Corsair LP from time to time, (i) direct access to the Company’s auditors and officers, (ii) the ability to link Corsair LP’s systems into the Company’s general ledger and other systems in order to enable Corsair LP to retrieve data on a “real-time” basis, (iii) quarter-end reports, in a format to be prescribed by Corsair LP, to be provided within 45 days after the end of each quarter, (iv) copies of all materials provided to the Board (or committee of the Board) at the same time as provided to the Directors (or members of a committee of the Board), (v) access to appropriate officers and directors of the Company and its Subsidiaries at such times as may be requested by Corsair LP, as the case may be, for consultation with Corsair LP with respect to matters relating to the business and affairs of the Company and its Subsidiaries, (vi) information in advance with respect to any significant corporate actions, including, without limitation, extraordinary dividends, stock redemptions or repurchases, mergers, acquisitions or dispositions of assets, issuances of significant amounts of debt or equity and material amendments to the Charter or Bylaws or the organizational documents of any of its Subsidiaries, and to provide Corsair LP with the right to consult with the Company and its Subsidiaries with respect to such actions, (vii) flash data, in a format to be prescribed by Corsair LP, to be provided within ten days after the end of each quarter and (viii) to the extent otherwise prepared by the Company, operating and capital expenditure budgets and periodic information packages relating to the operations and cash flows of the Company and its Subsidiaries (all such information so furnished pursuant to this Section 3.1, the “Information”). The Company agrees to consider, in good faith, the recommendations of Corsair LP in connection with the matters on which the Company is consulted as described above. Subject to Section 3.2, Corsair LP (and any party receiving Information from Corsair LP) shall receive Information and shall maintain the confidentiality of such Information, and the Company shall not be required to disclose any privileged Information of the Company so long as the Company has used its commercially reasonable efforts to enter into an arrangement pursuant to which it may provide such information to Corsair LP without the loss of any such privilege.

3.2 Sharing of Information. Individuals associated with EagleTree may from time to time serve on the Board or the equivalent governing body of the Company’s Subsidiaries. The Company, on its behalf and on behalf of its Subsidiaries, recognizes that such individuals (i) shall from time to time receive non-public information concerning the Company and its Subsidiaries, and (ii) may (subject to the obligation to maintain the confidentiality of such information in accordance with Section 3.1) share such information with EagleTree, EagleTree’s direct and indirect investors and other individuals associated with EagleTree. Such sharing shall be for the dual purpose of facilitating support to such individuals in their capacity as Directors (or members of the governing body of any Subsidiary) and enabling EagleTree and its direct and indirect investors to better evaluate the Company’s performance and prospects. The Company, on behalf of itself and its Subsidiaries, hereby irrevocably consents to such sharing.

 

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ARTICLE IV

GENERAL PROVISIONS

4.1 Termination. This Agreement shall terminate on the earlier to occur of (i) such time as EagleTree no longer beneficially owns 3% or more of the outstanding shares of Common Stock and (ii) the delivery of a written notice by Corsair LP to the Company requesting that this Agreement terminate.

4.2 Notices. Any notice provided for in this Agreement shall be in writing and shall be either personally delivered, sent by electronic transmission or sent by reputable overnight courier service (charges prepaid) to the Company at the address set forth below and to any other recipient at the address indicated on the Company’s records, or at such address or to the attention of such other Person as the recipient party has specified by prior written notice to the sending party. Notices shall be deemed to have been given hereunder when delivered personally, sent by electronic transmission or upon actual delivery by reputable overnight courier service (as indicated in such courier service’s records).

The Company’s address is:

Corsair Gaming, Inc.

47100 Bayside Parkway

Fremont, CA 94538

Attention: Michael Potter

Email: ichael.potter@corsair.com

Corsair LP’s address is:

c/o Corsair Group (Cayman), LP

1185 Avenue of the Americas, 39th Floor

New York, NY 10036

Attention: Anup Bagaria and George Majoros

Email: ab@eagletree.com; gm@eagletree.com

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

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

4.5 Assignment. This Agreement shall inure to the benefit of and be binding on the parties hereto and their respective successors and Permitted Assigns. This Agreement may not be assigned without the express prior written consent of the other parties hereto, and any attempted assignment, without such consents, shall be null and void; provided, however, that Corsair LP shall be entitled to assign, in whole or in part, to any of its Permitted Assigns without such prior written consent any of its rights hereunder.

4.6 Third Parties. Except as provided for in Section 3.2 with respect to individuals associated with EagleTree, this Agreement does not create any rights, claims or benefits inuring to any person that is not a party hereto nor create or establish any third party beneficiary hereto.

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

 

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4.8 Jurisdiction; Waiver of Jury Trial. In any judicial proceeding involving any dispute, controversy or claim arising out of or relating to this Agreement, each of the parties unconditionally accepts the jurisdiction and venue of the Court of Chancery of the State of Delaware or, if the Court of Chancery does not have subject matter jurisdiction over this matter, the Superior Court of the State of Delaware (Complex Commercial Division), or if jurisdiction over the matter is vested exclusively in federal courts, the United States District Court for the District of Delaware, and the appellate courts to which orders and judgments thereof may be appealed. In any such judicial proceeding, the parties agree that in addition to any method for the service of process permitted or required by such courts, to the fullest extent permitted by law, service of process may be made by delivery provided pursuant to the directions in Section 4.2. EACH OF THE PARTIES HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW TRIAL BY JURY IN ANY JUDICIAL PROCEEDING INVOLVING ANY DISPUTE, CONTROVERSY OR CLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT.

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

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

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

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

4.13 Counterparts. This Agreement and any amendment hereto may be signed in any number of separate counterparts, each of which shall be deemed an original, but all of which taken together shall constitute one Agreement (or amendment, as applicable). Counterparts may be delivered via electronic mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

4.14 Effectiveness. This Agreement shall become effective upon the Effective Date.

 

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4.15 No Recourse. Notwithstanding anything that may be expressed or implied in this Agreement or otherwise, and notwithstanding the fact that Corsair LP is an exempted limited partnership, each party hereto covenants, agrees and acknowledges that no recourse under this Agreement or any documents or instruments delivered by any Person pursuant hereto or otherwise shall be had against any of EagleTree or any of its former, current or future direct or indirect equity holders, Controlling Persons, stockholders, directors, officers, employees, agents, Affiliates, members, financing sources, managers, general or limited partners or assignees (each a “Related Party” and collectively, the “Related Parties”), in each case other than (subject, for the avoidance of doubt, to the provisions of this Agreement) each party hereto or any of its respective assignees under this Agreement, whether by the enforcement of any assessment or by any legal or equitable proceeding, or by virtue of any applicable law, it being expressly agreed and acknowledged that no personal liability whatsoever shall attach to, be imposed on or otherwise be incurred by any of the Related Parties, as such, for any obligation or liability of any party hereto or any of its respective assignees under this Agreement or any documents or instruments delivered by any Person pursuant hereto for any claim based on, in respect of or by reason of such obligations or liabilities or their creation; provided, however, that nothing in this Section 4.15 shall relieve or otherwise limit the liability of any party hereto or any of its respective assignees for any breach or violation of its obligations under such agreements, documents or instruments.

[Remainder Of Page Intentionally Left Blank]

 

 

 

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

 

			
	
 
	
 
	
CORSAIR GAMING, INC.

	
 
	
 

	
By:
	
 
	
/s/ Andrew J. Paul

	
 
	
 
	
Name: Andrew J. Paul

	
 
	
 
	
Title: Chief Executive Officer

 

 

 

 

 

 

					
	
 
	
 
	
CORSAIR GROUP (CAYMAN), LP

	
 
	
 
	
 

	
 
	
 
	
By:
	
 
	
EagleTree-Carbide (GP), LLC,

	
 
	
 
	
 
	
 
	
its General Partner

	
 
	
 
	
By:
	
 
	
EagleTree Partners IV (GP), LP,

	
 
	
 
	
 
	
 
	
its Sole Member

	
 
	
 
	
By:
	
 
	
EagleTree Partners IV Ultimate GP, LLC,

	
 
	
 
	
 
	
 
	
its General Partner

	
 
	
 

	
By:
	
 
	
/s/ Anup Bargaria

	
 
	
 
	
Name:
	
 
	
Anup Bargaria

	
 
	
 
	
Title:
	
 
	
Co-Managing Member

	
 
	
 

	
By:
	
 
	
/s/ George L. Majoros, Jr.

	
 
	
 
	
Name:
	
 
	
George L. Majoros, Jr.

	
 
	
 
	
Title:
	
 
	
Co-Managing Member

 

 

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