Document:

Exhibit
10.4

 

AMENDED
AND RESTATED

REGISTRATION RIGHTS AGREEMENT

 

THIS
AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT (this “Agreement”) effective as of the [ ] day of [
], 2023, is made and entered into by and among Genesis Unicorn Capital Corp., a Delaware corporation (“Parent”),
Environmental Solutions Group Holdings Limited, a Cayman Islands exempted company (“ESGH”), Purchaser (as defined
below) and each of the undersigned parties that are Pre-IPO Investors (as defined below), and any person or entity who hereafter becomes
a party to this Agreement pursuant to Section 6.2 of this Agreement (together with the Pre-IPO Investors, the “Existing Holders”),
and the undersigned parties listed as New Holders on the signature pages hereto (each such party, together with any person or entity
deemed a “New Holder” who hereafter becomes a party to this Agreement pursuant to Section 6.2 of this Agreement, a
“New Holder” and collectively the “New Holders”). Existing Holders, collectively
with New Holders, are referred to herein as “Holders.”

 

WHEREAS,
each of the Parent and certain investors (each, a “Pre-IPO Investor”) is a party to, and hereby consents to,
this amendment and restatement of that certain Registration Rights Agreement, dated as of February 14, 2022 (the “Original
Registration Rights Agreement”), pursuant to which the Parent granted the Pre-IPO Investors certain registration rights
with respect to certain securities of the Parent, as set forth therein;

 

WHEREAS,
Parent, ESGH, ESGL Holdings Limited, a Cayman Islands exempted company and wholly owned subsidiary of the Parent (“Purchaser”
or “Company”), and ESGH Merger Sub Corp., a Cayman Islands exempted company and wholly owned subsidiary of
Purchaser (“Merger Sub”), have entered into that certain Agreement and Plan of Merger (as may be amended, supplemented
or otherwise modified from time to time, the “Merger Agreement”), pursuant to which (a) Parent will be merged
with and into Purchaser (the “Redomestication Merger”), with Purchaser surviving the Redomestication Merger,
and (b) Merger Sub will be merged with and into ESGH (the “Acquisition Merger”), with ESGH surviving the Acquisition
Merger as a direct wholly owned subsidiary of Purchaser (collectively, the “Business Combination”). Following
the Business Combination, Purchaser will be a publicly traded company listed on a stock exchange in the United States.

 

WHEREAS,
the Pre-IPO Investors and Parent desire to enter into this Agreement in connection with the closing of the transactions contemplated
by the Merger Agreement (the “Closing”) to amend and restate the Original Registration Rights Agreement to provide
the Existing Holders and the New Holders with certain rights relating to the registration of the securities held by them as of the date
hereof on the terms and conditions set forth in this Agreement;

 

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

 

1.
DEFINITIONS. The following capitalized terms
used herein have the following meanings:

 

“Agreement”
means this Agreement, as amended, restated, supplemented, or otherwise modified from time to time.

 

“Business
Combination” is defined in the preamble to this Agreement.

 

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

 

“Class
A Common Stock” means the Class A common stock, par value, $0.0001 per share, of Parent.

 

“Class
B Common Stock” means the Class B common stock, par value $0.0001 per share, of Parent.

 

“Closing”
is defined in the preamble to this Agreement.

 

“Commission”
means the Securities and Exchange Commission, or any other Federal agency then administering the Securities Act or the Exchange Act.

 

“Common
Stock” means the Class A Common Stock and Class B Common Stock taken together as a single class.

 

“Company”
is defined in the preamble to this Agreement.

 

“Demand
Registration” is defined in Section 2.1.1.

 

“Demanding
Holder” is defined in Section 2.1.1.

 

“Effective
Date” means the date the parties consummate the Business Combination.

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated
thereunder, all as the same shall be in effect at the time.

 

“Form
S-3 or Form F-3” is defined in Section 2.3.

 

“Founder
Shares” means the 2,156,250 shares of Class B Common Stock of the Parent issued to Genesis Unicorn Capital LLC prior to
the Parent’s initial public offering and 377,371 shares of Class A Common Stock issued to Genesis Unicorn Capital LLC when the
over-allotment option was exercised by the underwriters of the Parent’s initial public offering.

 

“Holder
Indemnified Party” is defined in Section 4.1.

 

“Indemnified
Party” is defined in Section 4.3.

 

“Indemnifying
Party” is defined in Section 4.3.

 

“Investor”
is defined in the preamble to this Agreement.

 

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“IPO”
means the Parent’s initial public offering.

 

“Maximum
Number of Shares” is defined in Section 2.1.4.

 

“Merger
Agreement” is defined in the preamble to this Agreement.

 

“Merger
Sub” is defined in the preamble to this Agreement.

 

“Notices”
is defined in Section 6.3.

 

“Ordinary
Shares” means the ordinary shares, par value $0.001 per share, of the Company.

 

“Original
Registration Rights Agreement” is defined in the preamble to this Agreement.

 

“Person”
means a company, corporation, association, partnership, limited liability company, organization, joint venture, trust or other legal
entity, an individual, a government or political subdivision thereof or a governmental agency.

 

“Piggy-Back
Registration” is defined in Section 2.2.1.

 

“Pre-IPO
Investor” is defined in the preamble to this Agreement.

 

“Private
Shares” means 377,331 shares of Class A Common Stock included in the Private Units.

 

“Private
Units” means 377,331 units, consisting of the Private Shares and the Private Warrants, that the Investors (or their designees
or affiliates) privately purchased under an exemption from registration under the Securities Act simultaneously with the consummation
of the Parent’s initial public offering.

 

“Private
Warrants” means warrants to purchase up to 377,331 shares of Class A Common Stock included in the Private Units.

 

“Pro
Rata” is defined in Section 2.1.4.

 

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

 

“Register,”
“Registered” and “Registration” mean a registration 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.

 

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“Registrable
Securities” means (i) the Founder Shares and the Ordinary Shares issued or issuable upon the conversion of any Founder
Shares, (ii) the Private Warrants, (iii) the shares of the Common Stock or the Ordinary Shares, as applicable, underlying the Private
Warrants, (iv) any securities issuable upon conversion of loans from the Pre- IPO Investors (or their designees or affiliates) to the
Parent for either (A) the purpose of extending the duration of the Parent in accordance with the terms of the Parent’s Amended
and Restated Certificate of Incorporation (the “Extension Loan Securities”) or (B) the Parent’s use as
working capital whether made before or subsequent to the date of the Original Registration Rights Agreement, if any (the “Working
Capital Loan Securities”), (v) shares of Common Stock underlying any Extension Loan Securities or Working Capital Loan
Securities, and (vi) any outstanding Ordinary Shares or any other equity security (including the Ordinary Shares issued or issuable upon
the exercise or conversion of any other equity security) of the Company held by a Holder immediately following the Closing (including,
for avoidance of doubt, all Ordinary Shares to be issued to the New Holders and the Existing Holders pursuant to the Merger Agreement).
Registrable Securities include any warrants, shares of capital stock or other securities of the Parent issued as a dividend or other
distribution with respect to or in exchange for or in replacement of such Founder Shares, Private Warrants, Extension Loan Securities,
Working Capital Loan Securities, and underlying securities. As to any particular Registrable Securities, such securities shall cease
to be Registrable Securities when: (a) a Registration Statement with respect to the sale of such securities shall have become effective
under the Securities Act and such securities shall have been sold, transferred, disposed of or exchanged in accordance with such Registration
Statement; (b) such securities shall have been otherwise transferred, new certificates for them not bearing a legend restricting further
transfer shall have been delivered by the Parent, and subsequent public distribution of them shall not require registration under the
Securities Act; (c) such securities shall have ceased to be outstanding, or (d) the Registrable Securities are freely saleable under
Rule 144 under the Securities Act without volume limitations.

 

“Registration
Statement” means a registration statement filed by the Company with the Commission in compliance with the Securities Act
and the rules and regulations promulgated thereunder for a public offering and sale of equity securities, or securities or other obligations
exercisable or exchangeable for, or convertible into, equity securities (other than a registration statement on Form S-4, F-4 or Form
S-8, or their successors, or any registration statement covering only securities proposed to be issued in exchange for securities or
assets of another entity).

 

“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations of the Commission promulgated thereunder,
all as the same shall be in effect at the time.

 

“Underwriter”
means, solely for the purposes of this Agreement, 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 to the Underwriter in a firm commitment underwriting
for distribution to the public.

 

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2.
REGISTRATION RIGHTS.

 

2.1
Demand Registration.

 

2.1.1
Request for Demand Registration. At any time and from time to time on or after (i) the date that Parent consummates a Business
Combination with respect to the Registrable Securities, the holders of a majority-in-interest of the Registrable Securities, as the case
may be, held by the Holders, officers or directors of the Parent or their affiliates, or the transferees of the Holders, may make a written
demand, on no more than two occasions, for registration under the Securities Act of all or part of their Registrable Securities, as the
case may be (a “Demand Registration”); provided, however, that the Purchaser shall only be obligated to effect
a Demand Registration if such offering shall include securities with a total offering price (including piggyback securities and before
deduction of underwriting discounts) reasonably expected to exceed, in the aggregate, $10,000,000. Any demand for a Demand Registration
shall specify the number of Registrable Securities proposed to be sold and the intended method(s) of distribution thereof. Purchaser
will notify all holders of Registrable Securities of the demand, and each holder of Registrable Securities who wishes to include all
or a portion of such holder’s Registrable Securities in the Demand Registration (each such holder including shares of Registrable
Securities in such registration, a “Demanding Holder”) shall so notify the Purchaser within fifteen (15) days
after the receipt by the holder of the notice from the Purchaser. Upon any such request, the Demanding Holders shall be entitled to have
their Registrable Securities included in the Demand Registration, subject to Section 2.1.4 and the provisos set forth in Section 3.1.1.
The Purchaser shall not be obligated to effect more than an aggregate of two (2) Demand Registrations under this Section 2.1.1 in respect
of all Registrable Securities.

 

2.1.2
Effective Registration. A registration will not count as a Demand Registration until (i) the Registration Statement filed with
the Commission with respect to such Demand Registration has been declared effective, (ii) the Purchaser has complied with all of its
obligations under this Agreement with respect thereto and (iii) the Registration Statement has remained effective continuously until
the earlier of (x) one (1) year after effectiveness or (y) the date on which all of the Registrable Securities requested by the Demanding
Holders to be registered on behalf of the Demanding Holders in such Registration Statement have been sold; provided, however,
that if, after such Registration Statement has been declared effective, the offering of Registrable Securities pursuant to a Demand Registration
is interfered with by any stop order or injunction of the Commission or any other governmental agency or court, the Registration Statement
with respect to such Demand Registration will be deemed not to have been declared effective, unless and until, (i) such stop order or
injunction is removed, rescinded or otherwise terminated, and (ii) a majority-in-interest of the Demanding Holders thereafter elect to
continue the offering; provided, further, that the Purchaser shall not be obligated to file a second Registration Statement
until a Registration Statement that has been filed is counted as a Demand Registration or is terminated.

 

2.1.3
Underwritten Offering pursuant to Demand Registration. If a majority-in-interest of the Demanding Holders so elect and such holders
so advise the Purchaser as part of their written demand for a Demand Registration, the offering of such Registrable Securities pursuant
to such Demand Registration shall be in the form of an underwritten offering. In such event, the right of any holder to include its Registrable
Securities in such registration shall be conditioned upon such holder’s participation in such underwritten offering and the inclusion
of such holder’s Registrable Securities in the underwriting to the extent provided herein. All Demanding Holders proposing to distribute
their Registrable Securities through such underwriting shall enter into an underwriting agreement in customary form with the Underwriter
or Underwriters selected for such underwriting by a majority-in-interest of the Demanding Holders, provided such Underwriter or Underwriters
shall be reasonably acceptable to the Company.

 

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2.1.4
Reduction of Offering in Connection with Demand Registration. If the managing Underwriter(s) in an Underwritten Offering effected
pursuant to a Demand Registration in good faith advises the Purchaser and the Demanding Holders in writing that the dollar amount or
number of shares of Registrable Securities which the Demanding Holders desire to sell, taken together with all other Ordinary Shares
or other securities which the Purchaser desires to sell and Ordinary Shares, if any, as to which a registration has been requested pursuant
to separate written contractual piggy-back registration rights held by other stockholders of the Company who desire to sell, exceeds
the maximum dollar amount or maximum number of shares that can be sold in such offering without adversely affecting the proposed offering
price, the timing, the distribution method, or the probability of success of such offering (such maximum dollar amount or maximum number
of shares, as applicable, the “Maximum Number of Shares”), then the Purchaser shall include in such registration:
(i) first, the Registrable Securities as to which Demand Registration has been requested by the Demanding Holders (pro rata in accordance
with the number of shares that each such Person has requested be included in such registration, regardless of the number
of shares held by each such Person (such proportion is referred to herein as “Pro Rata”)) up to the maximum
amount that can be sold without exceeding the Maximum Number of Shares; (ii) second, to the extent that the Maximum Number of Shares
has not been reached under the foregoing clause (i), the Ordinary Shares or other securities that
the Purchaser desires to sell that can be sold without exceeding the Maximum Number of Shares; (iii) third, to the extent that the Maximum
Number of Shares has not been reached under the foregoing clauses (i) and (ii), the Ordinary Shares or
other securities for the account of other persons that the Purchaser is obligated to register pursuant to then other written contractual
arrangements with such persons and that can be sold without exceeding the Maximum Number of Shares.

 

2.1.5
Demand Registration Withdrawal.

 

(a)
If a majority-in-interest of the Demanding Holders disapprove of the terms of any underwriting or are not entitled to include all of
their Registrable Securities in any offering, such majority-in-interest of the Demanding Holders may elect to withdraw from such offering
by giving written notice to the Purchaser and the Underwriter or Underwriters of their request to withdraw prior to the effectiveness
of the Registration Statement filed with the Commission with respect to such Demand Registration. If the majority-in-interest of the
Demanding Holders withdraws from a proposed offering relating to a Demand Registration, then such registration shall not count as a Demand
Registration provided for in this Section 2.1. Notwithstanding the forgoing, a Holder may withdraw all or any portion of its Registrable
Securities included in a Demand Registration from such Demand Registration at any time prior to the effectiveness of the applicable Registration
Statement; provided that such withdrawal shall be irrevocable and, after making such withdrawal, a Holder shall no longer have
any right to include Registrable Securities in the Demand Registration as to which such withdrawal was made.

 

(b)
Notwithstanding anything to the contrary in this Agreement, the Purchaser shall be responsible for the registration expenses described
in Section 3.3 incurred in connection with a Registration pursuant to a Demand Registration or an Underwritten Offering prior to its
withdrawal under this Section 2.1.5.

 

2.2
Piggy-Back Registration.

 

2.2.1
Piggy-Back Rights. If at any time on or after the date the Parent consummates a Business Combination the Purchaser proposes to
file a Registration Statement under the Securities Act with respect to an offering of equity securities, or securities or other obligations
exercisable or exchangeable for, or convertible into, equity securities, by the Purchaser for its own account or for the account of stockholders
of the Purchaser (or by the Purchaser and by stockholders of the Purchaser including, without limitation, pursuant to Section 2.1), other
than a Registration Statement (i) filed in connection with any employee stock option or other benefit plan, (ii) for an exchange offer
or offering of securities solely to the Purchaser’s existing stockholders, (iii) for an offering of debt that is convertible into
equity securities of the Purchaser or (iv) for a dividend reinvestment plan, then the Purchaser shall (x) give written notice of such
proposed filing to the holders of Registrable Securities as soon as practicable but in no event less than ten (10) days before the anticipated
filing date, which notice shall describe the amount and type of securities to be included in such offering, the intended method(s) of
distribution, and the name of the proposed managing Underwriter or Underwriters, if any, of the offering, and (y) offer to the holders
of Registrable Securities in such notice the opportunity to register the sale of such number of shares of Registrable Securities as such
holders may request in writing within five (5) days following receipt of such notice (a “Piggy-Back Registration”).
Subject to Section 2.2.2 hereof, the Purchaser shall cause such Registrable Securities to be included in such 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 to be included in a Piggy-Back Registration on the same terms and conditions as
any similar securities of the Purchaser and to permit the sale or other disposition of such Registrable Securities in accordance with
the intended method(s) of distribution thereof. All holders of Registrable Securities proposing to distribute their Registrable Securities
through a Piggy-Back Registration that involves an Underwriter or Underwriters shall enter into an underwriting agreement in customary
form with the Underwriter or Underwriters selected for such Piggy-Back Registration. Notwithstanding the provisions set forth in the
immediately preceding sentences, the right to a Piggy-Back Registration set forth under this Section 2.2.1 with respect to the Registrable
Securities shall terminate on the seventh anniversary of the Effective Date.

 

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2.2.2
Reduction of Underwritten Offering in Connection with Piggy-Back Registration. If the managing Underwriter or Underwriters for
a Piggy-Back Registration that is to be an Underwritten Offering advises the Purchaser and the holders of Registrable Securities participating
in the Underwritten Offering in writing that the dollar amount or number of Ordinary Shares which the Company desires to sell in such
Underwritten Offering, taken together with the Ordinary Shares, if any, as to which inclusion in such Underwritten Offering has been
demanded pursuant to separate written contractual arrangements with persons other than the holders of Registrable Securities hereunder,
the Registrable Securities as to which inclusion in such Underwritten Offering has been requested under Section 2.2.1 above, and the
Ordinary Shares, if any, as to which inclusion in such Underwritten Offering has been requested pursuant to separate written contractual
Piggy-Back Registration rights of other stockholders of the Purchaser, exceeds the Maximum Number of Shares, then the Purchaser shall
include in any such registration:

 

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

 

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

 

2.2.3
Piggy-Back Registration Withdrawal. Any holder of Registrable Securities may elect to withdraw such holder’s request for
inclusion of Registrable Securities in any Piggy-Back Registration by giving written notice to the Purchaser of such request to withdraw
prior to the effectiveness of the Registration Statement. The Purchaser (whether on its own determination or as the result of a withdrawal
by persons making a demand pursuant to written contractual obligations) may withdraw a Registration Statement
at any time prior to the effectiveness of such Registration Statement. Notwithstanding any such withdrawal, the Purchaser shall pay all
expenses incurred by the holders of Registrable Securities in connection with such Piggy-Back Registration as provided in Section 3.3.

 

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2.3
Resale Shelf Registration Rights.

 

2.3.1
Registration Statement Covering Resale of Registrable Securities. The holders of a majority-in-interest of the Registrable Securities
may at any time and from time to time, request in writing that the Purchaser register the resale of any or all of such Registrable Securities
on Form S-3, Form F-3 or any similar short-form registration which may be available at such time (“Form S-3/Form F-3”
or “Resale Shelf Registration Statement”); provided, however, that (i) the Purchaser shall not be obligated
to effect such request through an underwritten offering and (ii) the Purchaser shall not be obligated to effect more than two such requests.
Upon receipt of such written request, the Purchaser will promptly give written notice of the proposed registration to all other holders
of Registrable Securities, and, as soon as practicable thereafter, effect the registration of all or such portion of such holder’s
or holders’ Registrable Securities as are specified in such request, together with all or such portion of the Registrable Securities
or other securities of the Purchaser, if any, of any other holder or holders joining in such request as are specified in a written request
given within fifteen (15) days after receipt of such written notice from the Purchaser; provided, however, that the Purchaser shall not
be obligated to effect any such registration pursuant to this Section 2.3: (i) if Form S-3 or Form F-3 is not available for such offering;
or (ii) if the holders of the Registrable Securities, together with the holders of any other securities of the Purchaser entitled to
inclusion in such registration, propose to sell Registrable Securities and such other securities (if any) at any aggregate price to the
public of less than $500,000. Registrations effected pursuant to this Section 2.3 shall not be counted as Demand Registrations effected
pursuant to Section 2.1.

 

2.3.2
Amendments and Supplements. Subject to the provisions of Section 2.3.1 above, the Company shall promptly prepare and file with
the Commission from time to time such amendments and supplements to the Resale Shelf Registration Statement and Prospectus used in connection
therewith as may be necessary to keep the Resale Shelf Registration Statement effective and to comply with the provisions of the Securities
Act with respect to the disposition of all the Registrable Securities. If any Resale Shelf Registration Statement filed pursuant to Section
2.3.1 is filed on Form S-3 or Form F-3 and thereafter the Company becomes ineligible to use Form S-3 or Form F-3 for secondary sales,
the Company shall promptly notify the holders of such ineligibility and use its commercially reasonable efforts to file a shelf registration
on an appropriate form as promptly as practicable to replace the shelf registration statement on Form S-3 and have such replacement Resale
Shelf Registration Statement declared effective as promptly as practicable and to cause such replacement Resale Shelf Registration Statement
to remain effective, and to be supplemented and amended to the extent necessary to ensure that such Resale Shelf Registration Statement
is available or, if not available, that another Resale Shelf 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; provided, however, that
at any time the Company once again becomes eligible to use Form S-3 or Form F-3, the Purchaser shall cause such replacement Resale Shelf
Registration Statement to be amended, or shall file a new replacement Resale Shelf Registration Statement, such that the Resale Shelf
Registration Statement is once again on Form S-3.

 

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2.3.3
SEC Cutback. Notwithstanding the registration obligations set forth in this Section 2.3, in the event the Commission informs the
Purchaser that all of the Registrable Securities cannot, as a result of the application of Rule 415, be registered for resale as a secondary
offering on a single registration statement, the Purchaser agrees to promptly (i) inform each of the holders thereof and use its commercially
reasonable efforts to file amendments to the Resale Shelf Registration Statement as required by the Commission and/or (ii) withdraw the
Resale Shelf Registration Statement and file a new registration statement (a “New Registration Statement”)
on Form S-3 or Form F-3, or if Form S-3 or Form F-3 is not then available to the Purchaser for such registration statement, on such other
form available to register for resale the Registrable Securities as a secondary offering; provided, however, that prior to filing such
amendment or New Registration Statement, the Purchaser shall use its commercially reasonable efforts to advocate with the Commission
for the registration of all of the Registrable Securities in accordance with any publicly-available written or oral guidance, comments,
requirements or requests of the Commission staff (the “SEC Guidance”). Notwithstanding any other provision
of this Agreement, if any SEC Guidance sets forth a limitation on the number of Registrable Securities permitted to be registered on
a particular Registration Statement as a secondary offering (and notwithstanding that the Purchaser used diligent efforts to advocate
with the Commission for the registration of all or a greater number of Registrable Securities), unless
otherwise directed in writing by a holder as to further limit its Registrable Securities to be included on the Registration Statement,
the number of Registrable Securities to be registered on such Registration Statement will be reduced Pro Rata among all such selling
shareholders whose securities are included in such Registration Statement, subject to a determination by the Commission that certain
holders must be reduced first based on the number of Registrable Securities held by such holders. In the event the Purchaser amends the
Resale Shelf Registration Statement or files a New Registration Statement, as the case may be, under clauses (i) or (ii) above, the Purchaser
will use its commercially reasonable efforts to file with the Commission, as promptly as allowed by Commission or SEC Guidance provided
to the Purchaser or to registrants of securities in general, one or more registration statements on Form S-3 or Form F-3 or such other
form available to register for resale those Registrable Securities that were not registered for resale on the Resale Shelf Registration
Statement, as amended, or the New Registration Statement.

 

2.3.4
Underwritten Shelf Takedown. At any time and from time to time after a Resale Shelf Registration Statement has been declared effective
by the Commission, holders of a majority-in-interest of the Registrable Securities may request to sell all or any portion of the Registrable
Securities in an underwritten offering that is registered pursuant to the Resale Shelf Registration Statement (each, an “Underwritten
Shelf Takedown”); provided, however, that the Purchaser shall only be obligated to effect an Underwritten Shelf Takedown
if such offering shall include securities with a total offering price (including piggyback securities and before deduction of underwriting
discounts) reasonably expected to exceed, in the aggregate, $10,000,000. All requests for Underwritten Shelf Takedowns shall be made
by giving written notice to the Purchaser at least ten (10) days prior to the public announcement of such Underwritten Shelf Takedown,
which shall specify the approximate number of Registrable Securities proposed to be sold in the Underwritten Shelf Takedown and the expected
price range (net of underwriting discounts and commissions) of such Underwritten Shelf Takedown. The Purchaser shall include in any Underwritten
Shelf Takedown the securities requested to be included by any holder (each a “Takedown Requesting Holder”)
at least 48 hours prior to the public announcement of such Underwritten Shelf Takedown pursuant to written contractual piggyback registration
rights of such holder (including those set forth herein). All such holders proposing to distribute their Registrable Securities through
an Underwritten Shelf Takedown under this subsection 2.3.4 shall enter into an underwriting agreement in customary form with the Underwriter(s)
selected for such Underwritten Offering by the majority-in-interest of the Takedown Requesting Holders initiating the Underwritten Shelf
Takedown, provided such Underwriter or Underwriters shall be reasonably acceptable to the Company..

 

2.3.5
Reduction of Underwritten Shelf Takedown. If the managing Underwriter(s) in an Underwritten Shelf Takedown, in good faith,
advise the Purchaser and the Takedown Requesting Holders in writing that the dollar amount or number of Registrable Securities that the
Takedown Requesting Holders desire to sell, taken together with all other Ordinary Shares or other equity securities that the Purchaser
desires to sell, exceeds the Maximum Number of Shares, then the Purchaser shall include in such Underwritten Shelf Takedown, as follows:
(i) first, the Registrable Securities of the Takedown Requesting Holders, on a Pro Rata basis, that can be sold without exceeding the
Maximum Number of Shares; and (ii) second, to the extent that the Maximum Number of Shares has not been reached under the foregoing clause
(i), the Ordinary Shares or other equity securities that the Purchaser desires to sell, which can be sold without exceeding the Maximum
Number of Shares.

 

    	9

    	 

    

 

2.3.6
Registrations effected pursuant to this Section 2.3 shall not be counted as Demand Registrations effected pursuant to Section 2.1. Under
no circumstances shall the Purchaser be obligated to effect more than an aggregate of three (3) Underwritten Shelf Takedowns in any 12-month
period.

 

3.
REGISTRATION PROCEDURES.

 

3.1
Filings; Information. Whenever the Purchaser is required to effect the registration of any Registrable Securities pursuant to
Section 2, the Purchaser shall use its commercially reasonable efforts to effect the registration and sale of such Registrable Securities
in accordance with the intended method(s) of distribution thereof as expeditiously as practicable, and in connection with any such request:

 

3.1.1
Filing Registration Statement; Restriction on Registration Rights. The Purchaser shall use its reasonable best efforts to, as
expeditiously as possible after receipt of a request for a Demand Registration pursuant to Section 2.1, prepare and file with the Commission
a Registration Statement on any form for which the Purchaser then qualifies or which counsel for the Purchaser shall deem appropriate
and which form shall be available for the sale of all Registrable Securities to be registered thereunder
in accordance with the intended method(s) of distribution thereof, and shall use its reasonable best efforts to cause such Registration
Statement to become effective and use its reasonable best efforts to keep it effective for the period required by Section 3.1.3; provided,
however, that the Purchaser shall have the right to defer any Demand Registration for up to thirty (30) days, and any Piggy-Back Registration
for such period as may be applicable to deferment of any Demand Registration to which such Piggy-Back
Registration relates, in each case if the Purchaser shall furnish to the holders a certificate signed by Chief Executive Officer or Chairman
of the Purchaser stating that, in the good faith judgment of the Board of Directors of the Purchaser, it would be materially detrimental
to the Purchaser and its stockholders for such Registration Statement to be effected at such time; provided further, however, that the
Purchaser shall not have the right to exercise the right set forth in the immediately preceding proviso more than once in any 365-day
period in respect of a Demand Registration hereunder.

 

3.1.2
Copies. The Company shall, prior to filing a Registration Statement or Prospectus, or any amendment
or supplement thereto, furnish without charge to the holders of Registrable Securities included in such registration, and such holders’
legal counsel, copies of such Registration Statement as proposed to be filed, each amendment and supplement to such Registration Statement
(in each case including all exhibits thereto and documents incorporated by reference therein), the Prospectus included in such Registration
Statement, and such other documents as the holders of Registrable Securities included in such registration or legal counsel for any such
holders may request in order to facilitate the disposition of the Registrable Securities owned by such holders.

 

    	10

    	 

    

 

3.1.3
Amendments and Supplements. The Company shall prepare and file with the Commission such amendments, including post-effective amendments,
and supplements to such Registration Statement and the Prospectus used in connection therewith as may be necessary to keep such Registration
Statement effective and in compliance with the provisions of the Securities Act until all Registrable Securities and other securities
covered by such Registration Statement have been disposed of in accordance with the intended method(s) of distribution set forth in such
Registration Statement or such securities have been withdrawn.

 

3.1.4
Notification. After the filing of a Registration Statement, the Purchaser shall promptly, and in no event more than two (2) Business
Days after such filing, notify the holders of Registrable Securities included in such Registration Statement of such filing, and shall
further notify such holders promptly and confirm such advice in writing in all events within two (2) Business Days of the occurrence
of any of the following: (i) when such Registration Statement becomes effective; (ii) when any post-effective amendment to such Registration
Statement becomes effective; (iii) the issuance or threatened issuance by the Commission of any stop order (and the Purchaser shall take
all actions required to prevent the entry of such stop order or to remove it if entered); and (iv) any request by the Commission for
any amendment or supplement to such Registration Statement or any Prospectus relating thereto or for additional information or of the
occurrence of an event requiring the preparation of a supplement or amendment to such Prospectus so that, as thereafter delivered to
the purchasers of the securities covered by such Registration Statement, such Prospectus will 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 not misleading, and
promptly make available to the holders of Registrable Securities included in such Registration Statement any such supplement or amendment.

 

3.1.5
State Securities Laws Compliance. The Purchaser shall use its commercially reasonable efforts to (i) register or qualify the Registrable
Securities covered by the Registration Statement under such securities or “blue sky” laws of such jurisdictions in the United
States as the holders of Registrable Securities included in such Registration Statement (in light of their intended plan of distribution)
may request and (ii) take such action necessary to cause such Registrable Securities covered by the Registration Statement to be registered
with or approved by such other governmental authorities as may be necessary by virtue of the business and operations of the Purchaser
and do any and all other acts and things that may be necessary or advisable to enable the holders of Registrable Securities included
in such Registration Statement to consummate the disposition of such Registrable Securities in such jurisdictions; provided, however,
that the Purchaser shall not be required to qualify generally to do business in any jurisdiction where it would not otherwise be required
to qualify but for this paragraph or subject itself to taxation in any such jurisdiction.

 

    	11

    	 

    

 

3.1.6
Agreements for Disposition. The Purchaser shall enter into customary agreements (including, if applicable, an underwriting agreement
in customary form) and take such other actions as are reasonably required in order to expedite or facilitate the disposition of such
Registrable Securities. The representations, warranties and covenants of the Purchaser in any underwriting agreement which are made to
or for the benefit of any Underwriters, to the extent applicable, shall also be made to and for the benefit of the holders of Registrable
Securities included in such registration statement. No holder of Registrable Securities included in such
registration statement shall be required to make any representations or warranties in the underwriting agreement except, if applicable,
with respect to such holder’s organization, good standing, authority, title to Registrable Securities, lack of conflict of such
sale with such holder’s material agreements and organizational documents, and with respect to written information relating to such
holder that such holder has furnished in writing expressly for inclusion in such Registration Statement.

 

3.1.7
Cooperation. The principal executive officer of the Purchaser, the principal financial officer of the Purchaser, the principal
accounting officer of the Purchaser and all other officers and members of the management of the Purchaser shall cooperate fully in any
offering of Registrable Securities hereunder, which cooperation shall include, without limitation, the preparation of the Registration
Statement with respect to such offering and all other offering materials and related documents, and participation in meetings with Underwriters,
attorneys, accountants and potential investors.

 

3.1.8
Records. The Purchaser shall make available for inspection by the holders of Registrable Securities included in such Registration
Statement, any Underwriter participating in any disposition pursuant to such registration statement and any attorney, accountant or other
professional retained by any holder of Registrable Securities included in such Registration Statement or any Underwriter, all financial
and other records, pertinent corporate documents and properties of the Purchaser, as shall be necessary to enable them to exercise their
due diligence responsibility, and cause the Purchaser’s officers, directors and employees to supply all information requested by
any of them in connection with such Registration Statement.

 

3.1.9
Opinions and Comfort Letters. Upon request, the Purchaser shall furnish to each holder of Registrable Securities included in any
Registration Statement a signed counterpart, addressed to such holder, of (i) any opinion of counsel to the Purchaser delivered to any
Underwriter and (ii) any comfort letter from the Purchaser’s independent public accountants delivered to any Underwriter. In the
event no legal opinion is delivered to any Underwriter, the Purchaser shall furnish to each holder of Registrable Securities included
in such Registration Statement, at any time that such holder elects to use a Prospectus, an opinion of counsel to the Purchaser to the
effect that the Registration Statement containing such Prospectus has been declared effective and that no stop order is in effect.

 

3.1.10
Earnings Statement. The Purchaser shall comply with all applicable rules and regulations of the Commission and the Securities
Act, and make available to its stockholders, as soon as practicable, an earnings statement covering a period of twelve (12) months, which
earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder.

 

3.1.11
Listing. The Purchaser shall use its commercially reasonable efforts to cause all Registrable Securities included in any registration
to be listed on such exchanges or otherwise designated for trading in the same manner as similar securities issued by the Purchaser are
then listed or designated or, if no such similar securities are then listed or designated, in a manner satisfactory to the holders of
a majority of the Registrable Securities included in such registration.

 

    	12

    	 

    

 

3.1.12
Road Show. If the registration involves the registration of Registrable Securities involving gross proceeds in excess of $25,000,000,
the Purchaser shall use its reasonable efforts to make available senior executives of the Purchaser to participate in customary “road
show” presentations that may be reasonably requested by the Underwriter in any Underwritten Offering.

 

3.1.13
Regulation M. The Purchaser shall take no direct or indirect action prohibited by Regulation M under the Exchange Act; provided,
that, to the extent that any prohibition is applicable to the Purchaser, the Purchaser will take all reasonable action to make any such
prohibition inapplicable.

 

3.2
Obligation to Suspend Distribution. Upon receipt of any notice from the Company of the happening of any event of the kind described
in Section 3.1, or, in the case of a resale registration on Form S-3 pursuant to Section 2.3 hereof, upon any suspension by the Purchaser,
pursuant to a written insider trading compliance program adopted by the Purchaser’s Board of Directors, of the ability of all “insiders”
covered by such program to transact in the Purchaser’s securities because of the existence of material non-public information,
each holder of Registrable Securities included in any registration shall immediately discontinue disposition of such Registrable Securities
pursuant to the Registration Statement covering such Registrable Securities until such holder receives
the supplemented or amended Prospectus contemplated by Section 2.3.2 or the restriction on the ability of “insiders” to transact
in the Purchaser’s securities is removed, as applicable, and, if so directed by the Purchaser, each such holder will deliver to
the Purchaser all copies, other than permanent file copies then in such holder’s possession, of the most recent Prospectus covering
such Registrable Securities at the time of receipt of such notice.

 

3.3
Registration Expenses. The Purchaser shall bear all costs and expenses incurred in connection with any Demand Registration pursuant
to Section 2.1, any Piggy-Back Registration pursuant to Section 2.2, and any registration on Form S-3 or Form F-3 effected pursuant to
Section 2.3, and all expenses incurred in performing or complying with its other obligations under this Agreement, whether or not the
Registration Statement becomes effective, including, without limitation: (i) all registration and filing fees; (ii) fees and expenses
of compliance with securities or “blue sky” laws (including fees and disbursements of counsel in connection with blue sky
qualifications of the Registrable Securities); (iii) printing expenses; (iv) the Purchaser’s internal expenses (including, without
limitation, all salaries and expenses of its officers and employees); (v) the fees and expenses incurred in connection with the listing
of the Registrable Securities as required by Section 3.1.10; (vi) Financial Industry Regulatory Authority fees; (vii) fees and disbursements
of counsel for the Purchaser and fees and expenses for independent certified public accountants retained by the Purchaser; (viii) the
reasonable fees and expenses of any special experts retained by the Purchaser in connection with such registration; and (ix) the reasonable
fees and expenses of one legal counsel (not to exceed $25,000) selected by the holders of a majority-in-interest of the Registrable Securities
included in such registration. The Purchaser shall have no obligation to pay any underwriting discounts or selling commissions attributable
to the Registrable Securities being sold by the holders thereof, which underwriting discounts or selling commissions shall be borne by
such holders. Additionally, in an underwritten offering, all selling stockholders and the Purchaser shall bear the expenses of the Underwriter
pro rata in proportion to the respective amount of shares each is selling in such offering.

 

    	13

    	 

    

 

3.4
Holders’ Information. The holders of Registrable Securities shall provide such information as may reasonably be requested
by the Purchaser, or the managing Underwriter, if any, in connection with the preparation of any Registration Statement, including amendments
and supplements thereto, in order to effect the registration of any Registrable Securities under the Securities Act pursuant to Section
2 and in connection with the Purchaser’s obligation to comply with Federal and applicable state securities laws.

 

4.
INDEMNIFICATION AND CONTRIBUTION.

 

4.1
Indemnification by the Company. The Company agrees to indemnify and hold harmless each Holder and each other holder of Registrable
Securities, and each of their respective officers, employees, affiliates, directors, partners, members, attorneys and agents, and each
person, if any, who controls a Holder and each other holder of Registrable Securities (within the meaning of Section 15 of the Securities
Act or Section 20 of the Exchange Act) (each, a “Holder Indemnified Party”), from and against any expenses,
losses, judgments, claims, damages or liabilities, whether joint or several, arising out of or based upon any untrue statement (or allegedly
untrue statement) of a material fact contained in (or incorporated by reference in) any Registration Statement under which the sale of
such Registrable Securities was registered under the Securities Act, any Prospectus contained in the Registration Statement, or free
writing prospectus (as defined in Rule 405 under the Securities Act or any successor rule thereto), or any amendment or supplement to
such Registration Statement, or any filing under any state securities law required to be filed or furnished, or arising out of or based
upon any omission (or alleged omission) to state a material fact required to be stated therein or necessary to make the statements therein
not misleading, or any violation by the Company of the Securities Act or any rule or regulation promulgated thereunder applicable to
the Company and relating to action or inaction required of the Company in connection with any such registration; and the Company shall
promptly reimburse the Holder Indemnified Party for any legal and any other expenses reasonably incurred by such Holder Indemnified Party
in connection with investigating and defending any such expense, loss, judgment, claim, damage, liability or action; provided,
however, that the Company will not be liable in any such case to the extent that any such expense, loss, claim, damage or liability
arises out of or is based upon any untrue statement or allegedly untrue statement or omission or alleged omission made in such Registration
Statement, Prospectus, or free writing prospectus, or any such amendment or supplement, in reliance upon and in conformity with information
furnished to the Company, in writing, by such selling holder expressly for use therein, and shall reimburse the Company, its directors
and officers, and each other selling holder or controlling Person for any legal or other expenses reasonably incurred by any of them
in connection with investigation or defending any such loss, claim, damage, liability or action. The
Company also shall indemnify any Underwriter of the Registrable Securities, their officers, affiliates, directors, partners, members
and agents and each person who controls such Underwriter (within the meaning of the Securities Act or the Exchange Act, as applicable)
on substantially the same basis as that of the indemnification provided above in this Section 4.1.

 

    	14

    	 

    

 

4.2
Indemnification by Holders of Registrable Securities. Each selling holder of Registrable Securities will, in the event that any
registration is being effected under the Securities Act pursuant to this Agreement of any Registrable Securities held by such selling
holder, indemnify and hold harmless the Company, each of its directors, officers, agents and employees, each Person, if any, who controls
the Company (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act), each Underwriter (if any), and
each other selling holder and each other person, if any, who controls another selling holder or such Underwriter within the meaning of
the Securities Act, and the directors, officers, agents or employees of such controlling Persons, to the fullest extent permitted by
applicable law, against any losses, claims, judgments, damages or liabilities, whether joint or several, insofar as such losses, claims,
judgments, damages or liabilities (or actions in respect thereof) (including, without limitation, reasonable attorneys’ fees and
other expenses) arise out of or are based upon any untrue statement or allegedly untrue statement of a material fact contained in any
Registration Statement under which the sale of such Registrable Securities was registered under the Securities Act, any Prospectus contained
in the Registration Statement, or any amendment or supplement to the Registration Statement, or arise out of or are based upon any omission
or the alleged omission to state a material fact required to be stated therein or necessary to make the statement therein not misleading,
if the statement or omission was made in reliance upon and in conformity with information furnished in writing to the Company by such
selling holder expressly for use therein, and shall reimburse the Company, its directors and officers, and each other selling holder
or controlling Person for any legal or other expenses reasonably incurred by any of them in connection with investigation or defending
any such loss, claim, damage, liability or action. Each selling holder’s indemnification obligations hereunder shall be several
and not joint and shall be limited to the amount of any net proceeds actually received by such selling holder.

 

4.3
Conduct of Indemnification Proceedings. Promptly after receipt by any person of any notice of any loss, claim, damage or liability
or any action in respect of which indemnity may be sought pursuant to Section 4.1 or 4.2, such person (the “Indemnified Party”)
shall, if a claim in respect thereof is to be made against any other person for indemnification hereunder, notify such other person (the
“Indemnifying Party”) in writing of the loss, claim, judgment, damage, liability or action; provided,
however, that the failure by the Indemnified Party to notify the Indemnifying Party shall not relieve the Indemnifying Party from
any liability which the Indemnifying Party may have to such Indemnified Party hereunder, except and solely to the extent the Indemnifying
Party is actually prejudiced by such failure. If the Indemnified Party is seeking indemnification with respect to any claim or action
brought against the Indemnified Party, then the Indemnifying Party shall be entitled to participate in such claim or action, and, to
the extent that it wishes, jointly with all other Indemnifying Parties, to assume control of the defense thereof with counsel satisfactory
to the Indemnified Party. After notice from the Indemnifying Party to the Indemnified Party of its election to assume control of the
defense of such claim or action, the Indemnifying Party shall not be liable to the Indemnified Party for any legal or other expenses
subsequently incurred by the Indemnified Party in connection with the defense thereof other than reasonable costs of investigation; provided,
however, that in any action in which both the Indemnified Party and the Indemnifying Party are named as defendants, the Indemnified
Party shall have the right to employ separate counsel (but no more than one such separate counsel) to represent the Indemnified Party
and its controlling persons who may be subject to liability arising out of any claim in respect of which indemnity may be sought by the
Indemnified Party against the Indemnifying Party, with the fees and expenses of such counsel to be paid by such Indemnifying Party if,
based upon the written opinion of counsel of such Indemnified Party, representation of both parties by the same counsel would be inappropriate
due to actual or potential differing interests between them. No Indemnifying Party shall, without the prior written consent of the Indemnified
Party, consent to entry of judgment or effect any settlement of any claim or pending or threatened proceeding in respect of which the
Indemnified Party is or could have been a party and indemnity could have been sought hereunder by such Indemnified Party, unless such
judgment or settlement includes an unconditional release of such Indemnified Party from all liability arising out of such claim or proceeding.

 

    	15

    	 

    

 

4.4
Contribution.

 

4.4.1
If the indemnification provided for in the foregoing Sections 4.1, 4.2 and 4.3 is unavailable to any Indemnified Party in respect of
any loss, claim, damage, liability or action referred to herein, then each such 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 loss, claim, damage, liability or
action in such proportion as is appropriate to reflect the relative fault of the Indemnified Parties and the Indemnifying Parties in
connection with the actions or omissions which resulted in such loss, claim, damage, liability or action, as well as any other relevant
equitable considerations. The relative fault of any Indemnified Party and any Indemnifying Party shall be determined by reference to,
among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a
material fact relates to information supplied by such Indemnified Party or such Indemnifying Party and the parties’ relative intent,
knowledge, access to information and opportunity to correct or prevent such statement or omission.

 

4.4.2
The parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 4.4 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 Section 4.4.1.

 

4.4.3
The amount paid or payable by an Indemnified Party as a result of any loss, claim, damage, liability or action referred to in the immediately
preceding paragraph shall be deemed to include, subject to the limitations set forth above, any legal or other expenses incurred by such
Indemnified Party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section
4.4, no holder of Registrable Securities shall be required to contribute any amount in excess of the dollar amount of the net proceeds
(after payment of any underwriting fees, discounts, commissions or taxes) actually received by such holder from the sale of Registrable
Securities which gave rise to such contribution obligation. 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.

 

5.
RULE 144.

 

5.1
Rule 144. The Company covenants that it shall file any reports required to be filed by it under the Securities Act and the Exchange
Act and shall take such further action as the holders of Registrable Securities may reasonably request, all to the extent required from
time to time to enable such holders to sell Registrable Securities without registration under the Securities Act within the limitation
of the exemptions provided by Rule 144 under the Securities Act, as such Rules may be amended from time to time, or any similar rule
or regulation hereafter adopted by the Commission.

 

    	16

    	 

    

 

6.
MISCELLANEOUS.

 

6.1
Other Registration Rights. The Company represents and warrants that, except as disclosed in the Company’s registration statement
on Form S-1 (File No. 333-257623), no person, other than the holders of the Registrable Securities, has any right to require the Company
to register any of the Company’s share capital for sale or to include the Company’s share capital in any registration filed
by the Company for the sale of share capital for its own account or for the account of any other person.

 

6.2
Assignment; No Third Party Beneficiaries. This Agreement and the rights, duties and obligations of the Company hereunder may not
be assigned or delegated by the Company in whole or in part. This Agreement and the rights, duties and obligations of the holders of
Registrable Securities hereunder may be freely assigned or delegated by such holder of Registrable Securities in conjunction with and
to the extent of any transfer of Registrable Securities by any such holder. This Agreement and the provisions hereof shall be binding
upon and shall inure to the benefit of each of the parties, to the permitted assigns of the Holders or holder of Registrable Securities
or of any assignee of the Holders or holder of Registrable Securities. This Agreement is not intended to confer any rights or benefits
on any persons that are not party hereto other than as expressly set forth in Article 4 and this Section 6.2.

 

6.3
Notices. All notices, demands, requests, consents, approvals or other communications (collectively, “Notices”)
required or permitted to be given hereunder or which are given with respect to this Agreement shall be in writing and shall be personally
served, delivered by reputable air courier service with charges prepaid, or transmitted by hand delivery, telegram, telex or facsimile,
addressed as set forth below, or to such other address as such party shall have specified most recently by written notice. Notice shall
be deemed given on the date of service or transmission if personally served or transmitted by telegram,
telex or facsimile; provided, that if such service or transmission is not on a Business Day or is after normal business hours,
then such notice shall be deemed given on the next Business Day. Notice otherwise sent as provided herein shall be deemed given on the
next Business Day following timely delivery of such notice to a reputable air courier service with an order for next-day delivery.

 

To
the Company:

 

ESGL
Holdings Limited

101
Tuas South Avenue 2

Singapore
637226

Attention:
Mr. Quek Leng Chuang, Chief Executive Officer

Email:
quecklc@env-solutions.com 

 

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

 

Saul
Ewing LLP

1919
Pennsylvania Avenue N.W.

Washington
D.C. 20006-3434

Attention:
Mark I. Gruhin

Email:
mark.gruhin@saul.com

 

    	17

    	 

    

 

To
a Holder, to the address set forth below such Holder’s name on Exhibit A hereto.

 

6.4
Severability. This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof
shall not affect the validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore, in lieu of any
such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Agreement a provision
as similar in terms to such invalid or unenforceable provision as may be possible that is valid and enforceable.

 

6.5
Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be deemed an original, and all of which
taken together shall constitute one and the same instrument.

 

6.6
Entire Agreement. This Agreement (including all agreements entered into pursuant hereto and all certificates and instruments delivered
pursuant hereto and thereto) constitute the entire agreement of the parties with respect to the subject matter hereof and supersede all
prior and contemporaneous agreements, representations, understandings, negotiations and discussions between the parties, whether oral
or written.

 

6.7
Modifications and Amendments. Any term of this Agreement may be amended, modified or terminated and the observance of any term
of this Agreement may be waived (either generally or in a particular instance, and either retroactively or prospectively) with the written
consent of the Company and the holders of a majority of the Registrable Securities then outstanding.

 

6.8
Titles and Headings. Titles and headings of sections of this Agreement are for convenience only and shall not affect the construction
of any provision of this Agreement.

 

6.9
Waivers and Extensions. Any party to this Agreement may waive any right, breach or default which such party has the right to waive,
provided that such waiver will not be effective against the waiving party unless it is in writing, is signed by such party, and
specifically refers to this Agreement. Waivers may be made in advance or after the right waived has arisen or the breach or default waived
has occurred. Any waiver may be conditional. No waiver of any breach of any agreement or provision herein contained shall be deemed a
waiver of any preceding or succeeding breach thereof nor of any other agreement or provision herein contained. No waiver or extension
of time for performance of any obligations or acts shall be deemed a waiver or extension of the time for performance of any other obligations
or acts.

 

6.10
Remedies Cumulative. In the event that the Company fails to observe or perform any covenant or agreement to be observed or performed
under this Agreement, the Holder or any other holder of Registrable Securities may proceed to protect and enforce its rights by suit
in equity or action at law, whether for specific performance of any term contained in this Agreement or for an injunction against the
breach of any such term or in aid of the exercise of any power granted in this Agreement or to enforce any other legal or equitable right,
or to take any one or more of such actions, without being required to post a bond. None of the rights, powers or remedies conferred under
this Agreement shall be mutually exclusive, and each such right, power or remedy shall be cumulative and in addition to any other right,
power or remedy, whether conferred by this Agreement or now or hereafter available at law, in equity, by statute or otherwise.

 

6.11
Governing Law. This Agreement shall be governed by, interpreted under, and construed in accordance with the internal laws of the
State of Delaware applicable to agreements made and to be performed within the State of Delaware, without giving effect to any choice-of-law
provisions thereof that would compel the application of the substantive laws of any other jurisdiction.

 

6.12
Waiver of Trial by Jury. Each party hereby irrevocably and unconditionally waives the right to a trial by jury in any action,
suit, counterclaim or other proceeding (whether based on contract, tort or otherwise) arising out of, connected with or relating to this
Agreement, the transactions contemplated hereby, or the actions of the Holder in the negotiation, administration, performance or enforcement
hereof.

 

6.13
Term. This Agreement shall terminate upon the earlier of (i) the third anniversary of the date of this Agreement or (ii) the date
as of which (A) all of the Registrable Securities have been sold pursuant to a Registration Statement (but in no event prior to the applicable
period referred to in Section 4(a)(3) of the Securities Act and Rule 174 thereunder (or any successor rule promulgated thereafter by
the Commission)) or (B) the holders of all Registrable Securities are permitted to sell the Registrable Securities under Rule 144 (or
any similar provision) under the Securities Act without limitation on the amount of securities sold or the manner of sale.

 

[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK]

 

[Signature
Page to Amended and Restated Registration Rights Agreement]

 

    	18

    	 

    

 

IN
WITNESS WHEREOF, the parties have caused this Amended and Restated Registration Rights Agreement to be executed and delivered by their
duly authorized representatives as of the date first written above.

 

	COMPANY:	 
	 	 	 
	ESGL
    HOLDINGS LIMITED	 
	 	 	 
	By:
    	 	 
	Name:	Samuel
    Lui	 
	Title:	Director	 

 

	PARENT:	 
	 	 	 
	GENESIS
    UNICORN CAPITAL CORP.	 
	 	 	 
	By:
    	 	 
	Name:	Adeoye
    Olukotun	 
	Title:
    	Chief
    Executive Officer	 
	 	 	 
	ENVIRONMENTAL
    SOLUTIONS GROUP HOLDINGS LIMITED	 
	 	 	 
	By:
    	 	 
	Name:
    	Quek
    Leng Chuang	 
	Title:
    	Chairman
    and Chief Executive Officer	 
	 	 	 
	EXISTING
    HOLDERS: 	 
	 	 	 
	GENESIS
    UNICORN CAPITAL, LLC	 
	 	 	 
	By:	 	 
	Name:	 	 
	Title:
    	 	 

 

	 	 
	Adeoye
    Olukotun 	 
	 	 
	Samuel
    Lui 	 
	 	 
	Niel
    Starksen 	 
	 	 
	Juan
    Fernandez Pascual 	 
	 	 
	Grainne
    Coen 	 
	 	 
	Ernest
    Fong	 
	 	 
	Chung
    Fan Cheng	 
	 	 
	Teck-Yong
    Heng	 

 

[Signature
Page to Amended and Restated Registration Rights Agreement]

 

    	19

    	 

    

 

IN
WITNESS WHEREOF, the parties have caused this Amended and Restated Registration Rights Agreement to be executed and delivered by their
duly authorized representatives as of the date first written above.

 

	 	NEW
    HOLDERS:
	 	 	 
	 	By:	         
	 	Name:	 
	 	Title:	 

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

[Signature
Page to Amended and Restated Registration Rights Agreement]

 

    	20

    	 

    

 

EXHIBIT
A

 

Name
and Address of Holders

 

PRE-IPO
INVESTORS:

 

	Name
    of Holders	 	Address
	Genesis
    Unicorn Capital, LLC 	 	281
    Witherspoon Street, Suite 120, Princeton, New Jersey 08540 
	Samuel
    Lui	 	281
    Witherspoon Street, Suite 120, Princeton, New Jersey 08540 
	Adeoye
    Olukotun	 	281
    Witherspoon Street, Suite 120, Princeton, New Jersey 08540 
	Niel
    Starksen	 	281
    Witherspoon Street, Suite 120, Princeton, New Jersey 08540 
	Juan
    Fernandez Pascual	 	281
    Witherspoon Street, Suite 120, Princeton, New Jersey 08540 
	Grainne
    Coen	 	281
    Witherspoon Street, Suite 120, Princeton, New Jersey 08540 
	Ernest
    Fong	 	281
    Witherspoon Street, Suite 120, Princeton, New Jersey 08540
	Chung
    Fan Cheng	 	281
    Witherspoon Street, Suite 120, Princeton, New Jersey 08540
	Teck-Yong
    Heng	 	281
    Witherspoon Street, Suite 120, Princeton, New Jersey 08540

 

    	21Exhibit
10.1

 

NEITHER
THESE SECURITIES NOR THE SECURITIES ISSUABLE UPON EXERCISE OF THESE SECURITIES HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
AS AMENDED (THE “SECURITIES ACT”), OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD,
TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OR
(B) AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE
WITH APPLICABLE STATE SECURITIES LAWS OR BLUE SKY LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY
OR (II) UNLESS SOLD PURSUANT TO RULE 144 UNDER SAID ACT.

 

EKIMAS
CORPORATION

 

WARRANT
TO PURCHASE COMMON STOCK

 

	Warrant
    No. W-2	 	Original
    Issue Date: November 28, 2022

 

EKIMAS
CORPORATION, a Delaware corporation (the “Company”), hereby certifies that, for value received, David C. Volpe
or his permitted registered assigns (the “Holder”), is entitled to purchase from the Company up to a total of
500,000 shares of common stock, $0.001 par value per share (the “Common Stock”), of the Company (each such share,
a “Warrant Share” and all such shares, the “Warrant Shares”) at an exercise price per share equal
to $1.00 (as adjusted from time to time as provided in Section 9 herein, the “Exercise Price”), at any time and from
time to time on or after the Original Issue Date and through and including 5:00 P.M., New York City time, on December 31, 2027 (the “Expiration
Date”), subject to the following terms and conditions:

 

1.
Definitions. In addition to the terms defined elsewhere in this warrant (this “Warrant”), capitalized terms
that are not otherwise defined herein have the meanings given to such terms in the Regulation S Subscription Agreement dated on or about
the date of this Agreement between the Company and Holder (the “Subscription Agreement”).

 

2.
Registration of Warrants on Company’s Books. The Company shall register this Warrant, upon records to be maintained by
the Company for that purpose (the “Warrant Register”), in the name of the record Holder (which shall include the initial
Holder or, as the case may be, any registered assignee to which this Warrant is permissibly assigned hereunder) from time to time. The
Company may deem and treat the registered Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof
or any distribution to the Holder, and for all other purposes, absent actual notice to the contrary.

 

    	 

    	 

    

 

3.
Registration of Transfers. Subject to the restrictions on transfer set forth in Article III of the Subscription Agreement and
compliance with all applicable securities laws, the Company shall register the transfer of all or any portion of this Warrant in the
Warrant Register, upon (i) surrender of this Warrant, with the Form of Assignment attached as Schedule 2 hereto duly completed
and signed, to the Company at its address specified in the Subscription Agreement and (ii) if the Registration Statement is not effective,
(x) delivery, at the request of the Company, of an opinion of counsel reasonably satisfactory to the Company to the effect that the transfer
of such portion of this Warrant may be made pursuant to an available exemption from the registration requirements of the Securities Act
and all applicable state securities or blue sky laws and (y) delivery by the transferee of a written statement to the Company certifying
that the transferee is an “accredited investor” as defined in Rule 501(a) under the Securities Act and making the representations
and certifications set forth in Article IV of the Subscription Agreement, to the Company at its address specified in the Subscription
Agreement. Upon any such registration or transfer, a new warrant to purchase Common Stock in substantially the form of this Warrant (any
such new warrant, a “New Warrant”) evidencing the portion of this Warrant so transferred shall be issued to the transferee,
and a New Warrant evidencing the remaining portion of this Warrant not so transferred, if any, shall be issued to the transferring Holder.
The acceptance of the New Warrant by the transferee thereof shall be deemed the acceptance by such transferee of all of the rights and
obligations of a Holder of a Warrant. Notwithstanding the foregoing, this Warrant may not be transferred in increments of less than 10,000
Warrant Shares unless the entire remaining Warrant is transferred.

 

4.
Exercise and Duration of Warrants.

 

(a)
All or any part of this Warrant shall be exercisable, in whole or in part, by the registered Holder at any time and from time to time
on or after the Original Issue Date and through and including 5:00 P.M., New York City time, on the Expiration Date. At 5:00 P.M., New
York City time, on the Expiration Date, the portion of this Warrant not exercised prior thereto shall be and become void and of no value
and this Warrant shall be terminated and no longer outstanding.

 

(b)
The Holder may exercise this Warrant by delivering to the Company (i) an exercise notice, in the form attached as Schedule 1 hereto (the
“Exercise Notice”), appropriately completed and duly signed and (ii) payment in immediately available funds of the
Exercise Price for the number of Warrant Shares as to which this Warrant is being exercised, and the date such items are delivered to
the Company (as determined in accordance with the notice provisions hereof) is an “Exercise Date.” The delivery by (or on
behalf of) the Holder of the Exercise Notice and the applicable Exercise Price as provided above shall constitute the Holder’s
certification to the Company that its representations contained in Article IV of the Subscription Agreement are true and correct as of
the Exercise Date as if remade in their entirety (or, in the case of any transferee Holder that is not a party to the Subscription Agreement,
such transferee Holder’s certification to the Company that such representations are true and correct as to such assignee Holder
as of the Exercise Date). The Holder shall not be required to deliver the original Warrant in order to effect an exercise hereunder.
Execution and delivery of the Exercise Notice shall have the same effect as cancellation of the original Warrant and issuance of a New
Warrant evidencing the right to purchase the remaining number of Warrant Shares.

 

    	2

    	 

    

 

5.
Delivery of Warrant Shares.

 

(a)
Upon exercise of this Warrant, the Company shall promptly (but in no event later than three Trading Days after the Exercise Date) issue
or cause to be issued and cause to be delivered to or upon the written order of the Holder and in such name or names as the Holder may
designate (provided that, if the Registration Statement is not effective and the Holder directs the Company to register the Warrant Shares
in a name other than that of the Holder, it shall deliver to the Company on the Exercise Date an opinion of counsel reasonably satisfactory
to the Company to the effect that the issuance of such Warrant Shares in such other name may be made pursuant to an available exemption
from the registration requirements of the Securities Act and all applicable state securities or blue sky laws), a certificate for the
Warrant Shares issuable upon such exercise, free of restrictive legends, unless a registration statement covering the resale of the Warrant
Shares and naming the Holder as a selling stockholder thereunder is not then effective or the Warrant Shares are not freely transferable
without volume restrictions pursuant to Rule 144 under the Securities Act. The Holder, or any Person permissibly so designated by the
Holder to receive Warrant Shares, shall be deemed to have become the holder of record of such Warrant Shares as of the Exercise Date.
If the Warrant Shares are to be issued free of all restrictive legends, the Company shall, upon the written request of the Holder, use
its commercially reasonable efforts to deliver, or cause to be delivered, Warrant Shares hereunder electronically through The Depository
Trust Company or another established clearing corporation performing similar functions, if available; provided, that, the
Company may, but will not be required to, change its transfer agent if its current transfer agent cannot deliver Warrant Shares electronically
through such a clearing corporation.

 

(b)
To the extent permitted by law, the Company’s obligations to issue and deliver Warrant Shares in accordance with the terms hereof
are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with
respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim,
recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to the Company
or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might
otherwise limit such obligation of the Company to the Holder in connection with the issuance of Warrant Shares. Nothing herein shall
limit the Holder’s right to pursue any other remedies available to it hereunder, at law or in equity including, without limitation,
a decree of specific performance and/or injunctive relief with respect to the Company’s failure to timely deliver Common Stock
upon exercise of this Warrant as required pursuant to the terms hereof.

 

6.
Charges, Taxes and Expenses. Issuance and delivery of certificates for shares of Common Stock upon exercise of this Warrant shall
be made without charge to the Holder for any issue or transfer tax, transfer agent fee or other incidental tax or expense in respect
of the issuance of such certificates, all of which taxes and expenses shall be paid by the Company; provided, however, that the
Company shall not be required to pay any tax which may be payable in respect of any transfer involved in the registration of any certificates
for Warrant Shares or Warrants in a name other than that of the Holder or an Affiliate thereof. The Holder shall be responsible for all
other tax liability that may arise as a result of holding or transferring this Warrant or receiving Warrant Shares upon exercise hereof.

 

    	3

    	 

    

 

7.
Replacement of Warrant. If this Warrant is mutilated, lost, stolen or destroyed, the Company shall issue or cause to be issued
in exchange and substitution for and upon cancellation hereof, or in lieu of and substitution for this Warrant, a New Warrant, but only
upon receipt of evidence reasonably satisfactory to the Company of such loss, theft or destruction (in such case) and, in each case,
a customary and reasonable indemnity (which shall not include a surety bond), if requested. Applicants for a New Warrant under such circumstances
shall also comply with such other reasonable regulations and procedures and pay such other reasonable third-party costs as the Company
may prescribe. If a New Warrant is requested as a result of a mutilation of this Warrant, then the Holder shall deliver such mutilated
Warrant to the Company as a condition precedent to the Company’s obligation to issue the New Warrant.

 

8.
Reservation of Warrant Shares. The Company covenants that it will reserve and keep available out of the aggregate of its authorized
but unissued and otherwise unreserved Common Stock, solely for the purpose of enabling it to issue Warrant Shares upon exercise of this
Warrant as herein provided, one hundred percent (100%) of the number of Warrant Shares which are initially issuable and deliverable upon
the exercise of this entire Warrant, free from preemptive rights or any other contingent purchase rights of persons other than the Holder
(taking into account the adjustments and restrictions of Section 9). The Company covenants that all Warrant Shares so issuable and deliverable
shall, upon issuance and the payment of the applicable Exercise Price in accordance with the terms hereof, be duly and validly authorized,
issued and fully paid and nonassessable. The Company will take all such action as may be necessary to assure that such shares of Common
Stock may be issued as provided herein without violation of any applicable law or regulation, or of any requirements of any securities
exchange or automated quotation system upon which the Common Stock may be listed.

 

9.
Certain Adjustments. The Exercise Price and number of Warrant Shares issuable upon exercise of this Warrant are subject to adjustment
from time to time as set forth in this Section 9.

 

(a)
Stock Dividends and Splits. If the Company, at any time while this Warrant is outstanding, (i) pays a stock dividend on its Common
Stock or otherwise makes a distribution on any class of capital stock that is payable in shares of Common Stock, (ii) subdivides its
outstanding shares of Common Stock into a larger number of shares, or (iii) combines its outstanding shares of Common Stock into a smaller
number of shares, then in each such case the Exercise Price shall be multiplied by a fraction, the numerator of which shall be the number
of shares of Common Stock outstanding immediately before such event and the denominator of which shall be the number of shares of Common
Stock outstanding immediately after such event. Any adjustment made pursuant to clause (i) of this paragraph shall become effective immediately
after the record date for the determination of stockholders entitled to receive such dividend or distribution, and any adjustment pursuant
to clause (ii) or (iii) of this paragraph shall become effective immediately after the effective date of such subdivision or combination.

 

    	4

    	 

    

 

(b)
Pro Rata Distributions. If the Company, at any time while this Warrant is outstanding, distributes to all holders of Common Stock
(i) evidences of its indebtedness, (ii) any security (other than a distribution of Common Stock covered by the preceding paragraph),
(iii) rights or warrants to subscribe for or purchase any security, or (iv) any other asset (in each case, “Distributed Property”),
then, upon any exercise of this Warrant that occurs after the record date fixed for determination of stockholders entitled to receive
such distribution, the Holder shall be entitled to receive, in addition to the Warrant Shares otherwise issuable upon such exercise (if
applicable), the Distributed Property that such Holder would have been entitled to receive in respect of such number of Warrant Shares
had the Holder been the record holder of such Warrant Shares immediately prior to such record date.

 

(c)
Fundamental Transactions. If, at any time while this Warrant is outstanding (i) the Company effects any merger or consolidation
of the Company with or into another Person, in which the Company is not the survivor and the stockholders of the Company immediately
prior to such merger or consolidation do not own, directly or indirectly, at least fifty percent (50%) of the voting securities of the
surviving entity, (ii) the Company effects any sale of all or substantially all of its assets or a majority of its Common Stock is acquired
by a third party, in each case, in one or a series of related transactions, (iii) any tender offer or exchange offer (whether by the
Company or another Person) is completed pursuant to which all or substantially all of the holders of Common Stock are permitted to tender
or exchange their shares for other securities, cash or property, or (iv) the Company effects any reclassification of the Common Stock
or any compulsory share exchange pursuant to which the Common Stock is effectively converted into or exchanged for other securities,
cash or property (other than as a result of a subdivision or combination of shares of Common Stock covered by Section 9(a) above) (in
any such case, a “Fundamental Transaction”), then the Holder shall thereafter receive, upon exercise of this Warrant,
in lieu of any Warrant Shares, the same amount and kind of securities, cash or property as it would have been entitled to receive upon
the occurrence of such Fundamental Transaction if it had been, immediately prior to such Fundamental Transaction, the holder of the number
of Warrant Shares then issuable upon exercise in full of this Warrant without regard to any limitations on exercise contained herein
(the “Alternate Consideration”). The Company shall not effect any such Fundamental Transaction unless prior to or
simultaneously with the consummation thereof, any successor to the Company, surviving entity or the corporation purchasing or otherwise
acquiring such assets or other appropriate corporation or entity shall assume the obligation to deliver to the Holder, such Alternate
Consideration as, in accordance with the foregoing provisions, the Holder may be entitled to purchase and/or receive (as the case may
be), and the other obligations under this Warrant. The provisions of this paragraph (c) shall similarly apply to subsequent transactions
analogous to a Fundamental Transaction.

 

    	5

    	 

    

 

(d)
Subsequent Equity Sales. If the Company at any time while this Warrant is outstanding, shall sell or grant any option to purchase,
or sell or grant any right to reprice, or reduce the exercise price on any outstanding option, warrant or convertible securities, or
otherwise dispose of or issue (or announce any offer, sale, grant or any option to purchase or other disposition) any Common Stock or
any securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation,
any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable
for, or otherwise entitles the holder thereof to receive, Common Stock (“Common Stock Equivalents”), at an effective
price per share less than the Exercise Price then in effect (such lower price, the “Base Share Price” and such issuances
collectively, a “Dilutive Issuance”) (it being understood and agreed that if the holder of the Common Stock or Common
Stock Equivalents so issued shall at any time, whether by operation of purchase price adjustments, reset provisions, floating conversion,
exercise or exchange prices or otherwise, or due to warrants, options or rights per share which are issued in connection with such issuance,
be entitled to receive shares of Common Stock at an effective price per share that is less than the Exercise Price, such issuance shall
be deemed to have occurred for less than the Exercise Price on such date of the Dilutive Issuance at such effective price), then simultaneously
with the consummation of each Dilutive Issuance the Exercise Price shall be reduced and only reduced to equal the Base Share Price and
the number of Warrant Shares issuable hereunder shall be increased such that the aggregate Exercise Price payable hereunder, after taking
into account the decrease in the Exercise Price, shall be equal to the aggregate Exercise Price prior to such adjustment. Such adjustment
shall be made whenever such Common Stock or Common Stock Equivalents are issued. Notwithstanding the foregoing, no adjustments shall
be made, paid or issued under this Section 9(d) in respect of an Exempt Issuance. “Exempt Issuance” means the issuance
of (a) shares of Common Stock or options to employees, officers, directors or consultants (provided that such issuances to consultant
shall not exceed $500,000 of shares in any 12-month period) of the Company pursuant to any stock or option plan duly adopted for such
purpose, by a majority of the non-employee members of the Board of Directors or a majority of the members of a committee of non-employee
directors established for such purpose, (b) securities upon the exercise or exchange of or conversion of any Warrants or Warrant Shares
issued hereunder and/or other securities exercisable or exchangeable for or convertible into shares of Common Stock issued and outstanding
on the date of this Warrant, provided that such securities have not been amended since the date of this Warrant to increase the number
of such securities or to decrease the exercise price, exchange price or conversion price of such securities, and (c) securities issued
pursuant to acquisitions or strategic transactions approved by a majority of the disinterested directors of the Company, provided that
any such issuance shall only be to a person or entity (or to the equityholders of a person or entity) which is, itself or through its
subsidiaries, an operating company or an owner of an asset in a business synergistic with the business of the Company and shall provide
to the Company additional benefits in addition to the investment of funds, but shall not include a transaction in which the Company is
issuing securities primarily for the purpose of raising capital or to an entity whose primary business is investing in securities.

 

(e)
The Company shall notify the Holder, in writing, no later than the Trading Day following the issuance or deemed issuance of any Common
Stock or Common Stock Equivalents subject to this Section 9(d), indicating therein the applicable issuance price, or applicable reset
price, exchange price, conversion price and other pricing terms (such notice, the “Dilutive Issuance Notice”). For
purposes of clarification, whether or not the Company provides a Dilutive Issuance Notice pursuant to this Section 9(d), upon the occurrence
of any Dilutive Issuance, the Holder is entitled to receive a number of Warrant Shares based upon the Base Share Price regardless of
whether the Holder accurately refers to the Base Share Price in the Notice of Exercise. Notwithstanding anything herein to the contrary,
this Section 9(d) shall terminate and be of no further force or effect after six months after the date that all of the Warrant Shares
are freely tradable under Rule 144 without the requirement to be in compliance with the current public information requirements thereunder.

 

(f)
Number of Warrant Shares. Simultaneously with any adjustment to the Exercise Price pursuant to paragraph (a) and (e) of this Section,
the number of Warrant Shares that may be purchased upon exercise of this Warrant shall be increased or decreased proportionately, so
that after such adjustment the aggregate Exercise Price payable hereunder for the increased or decreased number of Warrant Shares shall
be the same as the aggregate Exercise Price in effect immediately prior to such adjustment.

 

    	6

    	 

    

 

(g)
Calculations. All calculations under this Section 9 shall be made to the nearest cent or the nearest share, as applicable. The
number of shares of Common Stock outstanding at any given time shall not include shares owned or held by or for the account of the Company,
and the sale or issuance of any such shares shall be considered an issue or sale of Common Stock.

 

(h)
Notice of Adjustments. Upon the occurrence of each adjustment pursuant to this Section 9, the Company at its expense will, at
the written request of the Holder, promptly compute such adjustment, in good faith, in accordance with the terms of this Warrant and
prepare a certificate setting forth such adjustment, including a statement of the adjusted Exercise Price and adjusted number or type
of Warrant Shares or other securities issuable upon exercise of this Warrant (as applicable), describing the transactions giving rise
to such adjustments and showing in detail the facts upon which such adjustment is based. Upon written request, the Company will promptly
deliver a copy of each such certificate to the Holder and to the Company’s transfer agent.

 

(i)
Notice of Corporate Events. If, while this Warrant is outstanding, the Company (i) declares a dividend or any other distribution
of cash, securities or other property in respect of its Common Stock, including, without limitation, any granting of rights or warrants
to subscribe for or purchase any capital stock of the Company or any subsidiary, (ii) authorizes or approves, enters into any agreement
contemplating or solicits stockholder approval for any Fundamental Transaction or (iii) authorizes the voluntary dissolution, liquidation
or winding up of the affairs of the Company, then, except if such notice and the contents thereof shall be deemed to constitute material
non-public information, the Company shall deliver to the Holder a notice describing the material terms and conditions of such transaction
at least ten (10) Trading Days prior to the applicable record or effective date on which a Person would need to hold Common Stock in
order to participate in or vote with respect to such transaction, and the Company will take all steps reasonably necessary in order to
ensure that the Holder is given the practical opportunity to exercise this Warrant prior to such time so as to participate in or vote
with respect to such transaction; provided, however, that the failure to deliver such notice or any defect therein shall not affect
the validity of the corporate action required to be described in such notice.

 

10.
Payment of Exercise Price. The Holder shall pay the Exercise Price in immediately available funds.

 

11.
No Fractional Shares. No fractional Warrant Shares will be issued in connection with any exercise of this Warrant. In lieu of
any fractional shares which would, otherwise be issuable, the number of Warrant Shares to be issued shall be rounded down to the next
whole number and the Company shall pay the Holder in cash the fair market value (based on the Closing Sale Price) for any such fractional
shares.

 

12.
Notices. Any and all notices or other communications or deliveries required or permitted to be provided hereunder (including,
without limitation, any Exercise Notice) shall be in writing and shall be deemed given and effective on the earliest of (i) the date
of transmission, if such notice or communication is delivered via facsimile (provided the sender receives a machine generated confirmation
of successful transmission) at the facsimile number specified in the Subscription Agreement prior to 5:00 P.M., New York City time, on
a Trading Day, (ii) the next Trading Day after the date of transmission, if such notice or communication is delivered via facsimile at
the facsimile number specified in the Subscription Agreement on a day that is not a Trading Day or later than 5:00 P.M., New York City
time, on any Trading Day, (iii) the Trading Day following the date of mailing, if sent by nationally recognized overnight courier service
specifying next business day delivery, or (iv) upon actual receipt by the party to whom such notice is required to be given, if by hand
delivery. The address and facsimile number of a party for such notices or communications shall be as set forth in the Subscription Agreement
unless changed by such party by two Trading Days’ prior notice to the other party in accordance with this Section 12.

 

    	7

    	 

    

 

13.
Warrant Agent. The Company shall serve as warrant agent under this Warrant. Upon thirty (30) days’ notice to the Holder,
the Company may appoint a new warrant agent. Any corporation into which the Company or any new warrant agent may be merged or any corporation
resulting from any consolidation to which the Company or any new warrant agent shall be a party or any corporation to which the Company
or any new warrant agent transfers substantially all of its corporate trust or shareholders services business shall be a successor warrant
agent under this Warrant without any further act. Any such successor warrant agent shall promptly cause notice of its succession as warrant
agent to be mailed (by first class mail, postage prepaid) to the Holder at the Holder’s last address as shown on the Warrant Register.

 

14.
Miscellaneous.

 

(a)
No Rights as a Shareholder. The Holder, solely in such Person’s capacity as a holder of this Warrant, shall not be entitled
to vote or receive dividends or be deemed the holder of share capital of the Company for any purpose, nor shall anything contained in
this Warrant be construed to confer upon the Holder, solely in such Person’s capacity as the Holder of this Warrant, any of the
rights of a stockholder of the Company or any right to vote, give or withhold consent to any corporate action (whether any reorganization,
issue of stock, reclassification of stock, consolidation, merger, amalgamation, conveyance or otherwise), receive notice of meetings,
receive dividends or subscription rights, or otherwise, prior to the issuance to the Holder of the Warrant Shares which such Person is
then entitled to receive upon the due exercise of this Warrant. In addition, nothing contained in this Warrant shall be construed as
imposing any liabilities on the Holder to purchase any securities (upon exercise of this Warrant or otherwise) or as a stockholder of
the Company, whether such liabilities are asserted by the Company or by creditors of the Company. Notwithstanding this Section 14(a),
the Company shall provide the Holder with copies of the same notices and other information given to the shareholders of the Company,
contemporaneously with the giving thereof to the shareholders.

 

(b)
Successors and Assigns. Subject to the restrictions on transfer set forth in this Warrant and in Section 4.1 of the Subscription
Agreement, and compliance with applicable securities laws, this Warrant may be assigned by the Holder. This Warrant may not be assigned
by the Company except to a successor in the event of a Fundamental Transaction. This Warrant shall be binding on and inure to the benefit
of the parties hereto and their respective successors and assigns. Subject to the preceding sentence, nothing in this Warrant shall be
construed to give to any Person other than the Company and the Holder any legal or equitable right, remedy or cause of action under this
Warrant. This Warrant may be amended only in writing signed by the Company and the Holder, or their successors and assigns.

 

    	8

    	 

    

 

(c)
Governing Law; Jurisdiction. ALL QUESTIONS CONCERNING THE CONSTRUCTION, VALIDITY, ENFORCEMENT AND INTERPRETATION OF THIS
WARRANT SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO THE PRINCIPLES
OF CONFLICTS OF LAW THEREOF. EACH PARTY HEREBY IRREVOCABLY SUBMITS TO THE EXCLUSIVE JURISDICTION OF THE STATE AND FEDERAL COURTS SITTING
IN THE CITY OF NEW YORK, BOROUGH OF MANHATTAN, FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION HEREWITH OR WITH ANY TRANSACTION
CONTEMPLATED HEREBY OR DISCUSSED HEREIN (INCLUDING WITH RESPECT TO THE ENFORCEMENT OF ANY OF THE TRANSACTION DOCUMENTS), AND HEREBY IRREVOCABLY
WAIVES, AND AGREES NOT TO ASSERT IN ANY SUIT, ACTION OR PROCEEDING, ANY CLAIM THAT IT IS NOT PERSONALLY SUBJECT TO THE JURISDICTION OF
ANY SUCH COURT. EACH PARTY HEREBY IRREVOCABLY WAIVES PERSONAL SERVICE OF PROCESS AND CONSENTS TO PROCESS BEING SERVED IN ANY SUCH SUIT,
ACTION OR PROCEEDING BY MAILING A COPY THEREOF VIA REGISTERED OR CERTIFIED MAIL OR OVERNIGHT DELIVERY (WITH EVIDENCE OF DELIVERY) TO
SUCH PARTY AT THE ADDRESS IN EFFECT FOR NOTICES TO IT UNDER THE SUBSCRIPTION AGREEMENT AND AGREES THAT SUCH SERVICE SHALL CONSTITUTE
GOOD AND SUFFICIENT SERVICE OF PROCESS AND NOTICE THEREOF. NOTHING CONTAINED HEREIN SHALL BE DEEMED TO LIMIT IN ANY WAY ANY RIGHT TO
SERVE PROCESS IN ANY MANNER PERMITTED BY LAW. EACH PARTY HEREBY WAIVES ALL RIGHTS TO A TRIAL BY JURY.

 

(d)
Headings. The headings herein are for convenience only, do not constitute a part of this Warrant and shall not be deemed to limit
or affect any of the provisions hereof.

 

(e)
Severability. In case any one or more of the provisions of this Warrant shall be invalid or unenforceable in any respect, the
validity and enforceability of the remaining terms and provisions of this Warrant shall not in any way be affected or impaired thereby,
and the parties will attempt in good faith to agree upon a valid and enforceable provision which shall be a commercially reasonable substitute
therefor, and upon so agreeing, shall incorporate such substitute provision in this Warrant.

 

IN
WITNESS WHEREOF, the Company has caused this Warrant to be duly executed by its authorized officer as of the date first indicated above.

 

	 	EKIMAS
    CORPORATION
	 	 	 
	 	By:	/s/
    Bennett J. Yankowitz 
	 	 	Bennett
    J. Yankowitz
	 	 	Chief
    Executive Officer

 

    	9

    	 

    

 

SCHEDULE
1

 

FORM
OF EXERCISE NOTICE

 

(To
be executed by the Holder to purchase shares of Common Stock under the foregoing Warrant)

 

Ladies
and Gentlemen:

 

The
undersigned is the Holder of Warrant No.W-2 (the “Warrant”) issued by EKIMAS Corporation, a Delaware corporation (the
“Company”). Capitalized terms used herein and not otherwise defined herein have the respective meanings set forth
in the Warrant.

 

The
undersigned hereby exercises its right to purchase __________ Warrant Shares pursuant to the Warrant.

 

Pursuant
to this Exercise Notice, the Company shall deliver to the Holder _____________ Warrant Shares in accordance with the terms of the Warrant.

 

Dated:
_______________________________

 

Name
of Holder: ________________________

 

By:
__________________________________

 

Name:
________________________________

 

Title:
_________________________________

 

(Signature
must conform in all respects to name of Holder as specified on the face of the Warrant)

 

    	10

    	 

    

 

SCHEDULE
2 

 

EKIMAS
CORPORATION

 

FORM
OF ASSIGNMENT

 

[To
be completed and signed only upon transfer of Warrant]

 

FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto _______________ (the “Transferee”) the right
represented by the within Warrant to purchase ___________ shares of Common Stock of EKIMAS Corporation (the “Company”)
to which the within Warrant relates and appoints ___________________ attorney to transfer said right on the books of the Company with
full power of substitution in the premises. In connection therewith, the undersigned represents, warrants, covenants and agrees to and
with the Company that:

 

(a)
the offer and sale of the Warrant contemplated hereby is being made in compliance with Section 4(1) of the United States Securities Act
of 1933, as amended (the “Securities Act”) or another valid exemption from the registration requirements of Section
5 of the Securities Act and in compliance with all applicable securities laws of the states of the United States;

 

(b)
the undersigned has not offered to sell the Warrant by any form of general solicitation or general advertising, including, but not limited
to, any advertisement, article, notice or other communication published in any newspaper, magazine or similar media or broadcast over
television or radio, and any seminar or meeting whose attendees have been invited by any general solicitation or general advertising;

 

(c)
the undersigned has read the Transferee’s investment letter included herewith, and to its actual knowledge, the statements made
therein are true and correct; and

 

(d)
the undersigned understands that the Company may condition the transfer of the Warrant contemplated hereby upon the delivery to the Company
by the undersigned or the Transferee, as the case may be, of a written opinion of counsel (which opinion shall be in form, substance
and scope customary for opinions of counsel in comparable transactions) to the effect that such transfer may be made without registration
under the Securities Act and under applicable securities laws of the states of the United States.

 

	Dated:
____________________________________    	 	 
	 	 	 
	 	 	 ______________________________________________
	 	 	(Signature
    must conform in all respects to name of holder as specified on the face of the Warrant)
	 	 	 
	 	 	 ______________________________________________
	 	 	Address
    of Transferee
	 	 	 
	 	 	 ______________________________________________
	In
    the presence of:	 	 
	 	 	 
	 _________________________________________	 	 

 

    	11

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