Document:

Exhibit 10.4

 

December __, 2021

 

[Name

Address]

 

 

Dear [__]:

 

On behalf of Rhodium Shared
Services LLC (the “Company”), I am pleased to extend this letter agreement memorializing your continued employment as [__].
We anticipate your employment under this agreement will begin on December __, 2021.

 

You will be paid an annualized
base salary of $200,000, less applicable taxes and other withholdings, in accordance with the Company’s payroll practices in effect
from time to time. You will also be eligible to participate in those benefit plans and programs that the Company makes available to its
similarly situated employees from time to time, subject to the terms and conditions of the applicable plans and programs as in effect
from time to time.

 

You will, of course, be expected
to continue to comply with all of the Company’s policies and procedures in effect from time to time. Your employment with the Company
is not for a specific term and is terminable at-will. This means that either you or the Company may terminate the employment relationship
at any time, with or without notice, and for any reason not prohibited by applicable law. Contemporaneously with your execution of this
agreement, you have executed the Confidentiality, Proprietary Rights and Protective Covenants Agreement attached hereto as Exhibit
A.

 

In signing below, you expressly
represent that you are under no restriction with any current or former employer or other third party, including restrictions with respect
to non-competition, non-solicitation, confidentiality, or any other restrictive covenant, that would prevent you from accepting employment
with the Company or from performing any services on the Company’s behalf. In addition, you promise that you will not provide the
Company with any confidential, proprietary or legally protected information belonging to any current or former employer or other third
party and in no circumstances will you use or disclose such information in the course of your employment with the Company. If you have
any questions about the ownership of particular documents or other information, you should discuss such questions with your current or
former employer(s) before removing or copying the documents or information.

 

[__], we look forward to your
continued contributions to the Company and the valuable contributions we expect you to make to its development and success in the future.
To accept this offer, please sign and date the acceptance below and return it to me.

 

     

     

    

 

	 	Sincerely,
	 	 
	 	RHODIUM SHARED SERVICES LLC
	 	 
	 	By: 	Rhodium Technologies LLC, its manager
	 	 
	 	 
	 	Name:  	[__]
	 	Title: 	Signatory Authority

 

	AGREED AND ACCEPTED:	 
	 	 
	 	 
	[__]	 

 

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EXHIBIT A TO OFFER LETTER

 

CONFIDENTIALITY, PROPRIETARY RIGHTS, AND

PROTECTIVE COVENANTS AGREEMENT

 

THIS CONFIDENTIALITY, PROPRIETARY
RIGHTS, AND PROTECTIVE COVENANTS AGREEMENT (hereinafter, this “PRA”) is hereby made and entered into by and between:
Rhodium Shared Services LLC, a Delaware limited liability company (hereinafter, the “Company”), on behalf of itself
and for the benefit its corporate parents, subsidiaries, members, managers, and other entities under common control with the Company (collectively,
“Company Affiliates” and any individually, a “Company Affiliate”); and, the undersigned individual
employee (the “Employee”). The Company and the Employee may hereinafter be referred to collectively as the “Parties”,
and each severally, a “Party”.

 

Consideration.
The Employee acknowledges that (a) the Employee is entering into an employment offer letter contemporaneously with the execution of this
Agreement, (b) is receiving new Confidential Information (as defined below) contemporaneously with the execution of this Agreement, and
(c) will continue to receive Confidential Information throughout the Employee’s employment. 

 

Certain Defined Terms.
Subject to the foregoing, when used in this PRA, the following terms shall have the meanings ascribed to them as follows:

 

“Confidential
Information” includes all information belonging to the Company or any Company Affiliate (a) designated as confidential, (b)
reasonably understood to be confidential in the context in which it is used, or (c) not generally known to the public, whether in spoken,
printed, electronic, or any other form or medium, and includes, but is not limited to, such information as relates directly or indirectly
to: business processes, practices, methods, policies, plans, publications, documents, research, operations, services, strategies, techniques,
agreements, contracts, terms of agreements, transactions, potential transactions, negotiations, pending negotiations, know-how, trade
secrets, computer programs, computer software, applications, operating systems, software design, web design, work-in-process, technologies,
databases, compilations, device configurations, embedded data, metadata, manuals, records, articles, systems, material, sources of material,
supplier information, vendor information, financial information, results, accounting information, accounting records, legal information,
marketing information, advertising information, pricing information, credit information, design information, payroll information, staffing
information, personnel information, employee lists, supplier lists, vendor lists, developments, reports, internal controls, security procedures,
graphics, drawings, sketches, market studies, sales information, revenue, costs, formulae, notes, communications, algorithms, product
plans, designs, styles, models, ideas, audiovisual programs, inventions, unpublished patent applications, original works of authorship,
discoveries, experimental processes, experimental results, specifications, Investor Information (as defined in Section 6) and Supplier
Information (as defined in Section 6) of the Company, the Company Affiliates, or any of their respective businesses or any other person
or entity that has entrusted information to the Employee in confidence, regardless of whether such information was disclosed to the Employee
prior to the Commencement Date or during the course of the Employee’s employment with the Company. Confidential Information does
not include information that the Employee can demonstrate by clear and convincing written or other documentary evidence: (i) was already
known to the Employee without restriction on use or disclosure prior to receipt of such information from or on behalf of the Company;
(ii) was or becomes generally known by the public other than by breach of this PRA by, or other wrongful act of the Employee or any third
party on behalf of the Employee; (iii) was received by the Employee from a third party who was not, at the time, under any obligation
to the Company or any other natural or legal person to maintain the confidentiality of such information; and/or (iv) provided that it
does not constitute Work Product, was or is independently developed by the Employee without reference to or use of any of the Company’s
Confidential Information.

 

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“Intellectual
Property” or “Intellectual Property Rights” means any and all: (1) copyrights and other rights associated
with works of authorship throughout the world, including neighboring rights, moral rights, and mask works; (ii) trade secrets and Confidential
Information; (iii) patents, patent disclosures and all rights in inventions (whether patentable or note); (iv) trademarks, trade names,
Internet domain names, and registrations and applications for registration thereof together with all of the good will associated therewith;
(v) all other intellectual and industrial property rights of every kind and nature throughout the world and however designated by operation
of law, contract, license or otherwise; and, (vi) all registrations, applications, renewals, extensions, divisions, or reissues thereof
now or hereafter in effect.

 

“Prohibited
Activity” means activity in which the Employee contributes or uses or may be required to contribute or use the Confidential
Information or Work Product of the Company or any Company Affiliate, directly or indirectly, in whole or in part, as an employee, employer,
owner, operator, manager, advisor, consultant, contractor, agent, partner, director, member, stockholder, officer, volunteer, intern,
or any other similar capacity of an entity or person engaged in the same or similar business as the Company or any Company Affiliate in
the Protected Territory.

 

“Protected
Territory” means the United States of America and all of its territories.

 

“Restricted
Period” means the duration of the Employee’s employment with the Company, and a continuous period of two (2) years thereafter,
beginning on the last day of the Employee’s employment relationship with the Company, whether terminated for any reason or no reason,
by the Employee or the Company.

 

“Work Product”
means any and all works created, made, conceived, invented, developed, written, or discovered or reduced to practice by the Employee in
the performance of his/her duties on behalf of the Company or any Company Affiliates or that relate to the business of the Company or
any Company Affiliates or any of the products or services being developed or otherwise provided by the Employee or which may be used in
relation therewith, or resulting from the Confidential Information or arising in connection with the performance of the Employee’s
duties, including, but not limited to, all renderings, drawings, designs, branding materials, drafts, notes, concepts, ideas, suggestions
and approaches, modifications, improvements and derivative works related thereto or contained therein, and each element and part thereof.
For the avoidance of doubt, “Work Product” shall encompass all Intellectual Property Rights commencing from the time the Company
(or any Company Affiliates) and the Employee provided any form of services to the Company or any Company Affiliates, and/or commencing
from the time the Employee and the Company (or any Company Affiliates) engaged in discussions and communications concerning the Employee’s
performance of employment duties to the Company (or any Company Affiliates).

 

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Work For Hire.
The Employee acknowledges and agrees that the performance of the Employee’s duties to the Company, and all results and proceeds
thereof, including, without limitation, any Work Product, are works done under the Company’s direction and control (or on behalf
of its Company Affiliates) and have been specially ordered or commissioned by the Company, on its own behalf or on the behalf of one or
more Company Affiliates. The Employee further acknowledges and agrees that any and all Work Product (as that term is defined in the PRA)
produced by the Employee constitute works made for hire within the meaning of the Copyright Act of 1976, as amended, and shall be the
exclusive property of either the Company or the Company Affiliate on behalf of which such Work Product was created. The Employee further
acknowledges and agrees that any and all Work Product written, made, conceived, discovered or reduced to practice during the Employee’s
employment with the Company, whether or not the Employee is named the author or inventor, are and shall be deemed owned solely by either
the Company or the Company Affiliate on behalf of which such Work Product was created, and the Employee has no right, title, or interest
therein. Furthermore, the Employee agrees that upon request, and without any further compensation, he/she will take such action and execute
such documents as the Company may request to evidence and perfect the Company’s ownership of such Work Product.

 

Use of Confidential Information.
The Employee agrees not to disclose or communicate, either directly or indirectly, any of the Company’s Confidential Information
and Work Product without first obtaining, in each and every instance, the prior written consent of the Company. The Employee represents
and warrants that any and all Confidential Information delivered by the Company to the Employee and any Work Product shall remain the
exclusive property of the Company. The Employee shall not retain any Confidential Information or Work Product without first obtaining,
in each and every instance, the prior written consent of the Company. Upon termination of the Employee’s employment with the Company
(for any reason), the Employee shall immediately deliver to the Company all of Company’s Confidential Information and Work Product
in the Employee’s possession or under his/her control, and the Employee shall not retain any such information or materials, whether
in digital or printed form. The Employee shall undertake best efforts to protect and safeguard the confidentiality of all Confidential
Information of the Company, and shall not use the Company’s Confidential Information, or permit it to be accessed or used, for any
purpose other than in connection with performance of employment duties, or otherwise in any manner to the Company’s or any Company
Affiliates’ detriment.

 

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Duration of Confidentiality
Obligations. The Employee understands and acknowledges that
his or her obligations under this PRA with regard to any particular Confidential Information of the Company shall commence immediately
upon the Employee first having access to such Confidential Information (whether before or after beginning employment with the Company,
or any prior relationship between the Employee and Company Affiliates) and shall continue during and after the period in which the Employee
is engaged to perform employment duties for the Company until such time as such Confidential Information has become public knowledge other
than as a result of the Employee’s breach of this PRA or breach by those acting in concert with the Employee or on the Employee’s
behalf or through an unauthorized disclosure by any third party.

 

Work Product Obligations.
The Employee shall promptly disclose to the Company each Work Product and shall communicate without cost or delay, and without publishing
the same, all available information relating thereto relating to the Company. Following disclosure, the Employee shall, at the request
of the Company, or the Company’s duly authorized agents, apply for, obtain and vest in the Company alone letters, patents, copyrights
or other analogous protection in any country throughout the world and, when so obtained or vested, renew the same, and defend any opposition
proceedings in respect of such application and any opposition proceedings or petitions or applications for revocation of such letters
patent, copyright or analogous protection. If the Company is unable, after reasonable effort, to secure the Employee’s signature
on any letters, patents, copyrights, or other analogous protection relating to any Work Product, whether because of the Employee’s
physical or mental incapacity or for any other reason whatsoever, the Employee hereby irrevocably designates and appoints the Company
and its authorized officers as the Employee’s agent and attorney-in-fact, to act for and on the Employee’s behalf to execute
and file any such applications and to do all other lawfully permitted acts to further the prosecution and issuance of letters, patents,
copyrights, or other analogous protection thereon with the same legal force and effect as if executed by the Employee. This limited power
of attorney designation and appointment shall be irrevocable, a power coupled with an interest, and, to the fullest extent permitted by
applicable law, shall survive the Employee’s death or incapacity.

 

Protective Covenants.

 

Acknowledgments.
The Employee understands that the nature of the Employee’s position gives the Employee access to and knowledge of the Company’s
Confidential Information and places the Employee in a position of trust and confidence with the Company. The Employee understands and
acknowledges that his/her duties to the Company are unique, special, or extraordinary. The Employee further understands and acknowledges
that the Company’s ability to reserve Confidential Information concerning its products and/or services for the exclusive knowledge
and use of the Company is of great competitive importance and commercial value to the Company, and that improper use or disclosure by
the Employee is likely to result in unfair or unlawful competitive activity and irreparable harm to the Company and/or Company Affiliates.
The Employee acknowledges and agrees that the services to be rendered by him/her to the Company and/or any Company Affiliates are of a
special and unique character; that the Employee will obtain knowledge and skill relevant to the industry, methods of doing business and
marketing strategies of the Company and/or Company Affiliates by virtue of the employment services provided by the Employee; and that
the terms and conditions of this PRA are reasonable under these circumstances. The Employee further acknowledges that he/she has no expectation
of any additional fees, royalties or other payment of any kind not otherwise referenced herein in connection with any Confidential Information
and/or any Work Product; that he/she will not be subject to undue hardship by reason of his or her full compliance with the terms and
conditions of this PRA or the Company’s enforcement thereof.

 

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Non-Competition.
For the duration of the Restricted Period (as the same may be extended pursuant to Section 10 of this PRA below), the Employee agrees
and covenants not to engage in Prohibited Activity in the Protected Territory.

 

Non-Solicitation
of Employees/Individual Independent Contractors. The Employee agrees and covenants not to directly or indirectly solicit, hire, recruit,
or attempt to solicit, hire, or recruit, any employee or individual (i.e., non-corporate) independent contractor of the Company during
the term of the Employee’s employment with the Company, or any employee who has been employed by the Company, or any individual
(i.e., non-corporate) independent contractor who has been engaged by the Company, in the three (3) years preceding the last day of the
Employee’s employment with the Company (collectively, “Covered Individual”), or induce the termination of employment
of any Covered Individual during the term of the Employee’s employment with the Company, and for a period of three (3) years thereafter,
beginning on the last day of the Employee’s employment with the Company, regardless of the reason for the termination of the Employee’s
employment with the Company. This non-solicitation provision explicitly covers all forms of oral, written, or electronic communication,
including, but not limited to, communications by email, regular mail, express mail, telephone, fax, instant message, and social media,
including, but not limited to, Facebook, Linkedln, Instagram, and Twitter, and any other social media platform, whether or not in existence
at the time of entering into this PRA. However, it will not be deemed a violation of this PRA if the Employee merely updates the Employee’s
Linkedln profile or connects with a Covered Individual on Facebook, Linkedln, or other social media or communication platform without
engaging in any other substantive communication that is prohibited by this Section 6(c). This Section 6(c) does not restrict or impede,
in any way, and shall not be interpreted or understood as restricting or impeding, the Employee from discussing the terms and conditions
of the Employee’s engagement with the Company that are protected rights and which cannot be waived by agreement.

 

Non-Solicitation
of Suppliers. The Employee understands and acknowledges that because of the Employee’s experience with and relationship to the
Company, the Employee has had, and will continue to have, access to, and has learned, and will continue to learn, about much or all of
the current and future, suppliers to the Company and Company Affiliates (collectively, “Suppliers”), and Supplier Information.
“Supplier Information” includes, but is not limited to, names, phone numbers, addresses, email addresses, contract
terms, pricing, credit terms, payment terms, shipping terms, and other information identifying facts and circumstances specific to the
Supplier. The Employee understands and acknowledges that loss of any such supplier relationship or goodwill will cause significant and
irreparable harm to the Company and/or Company Affiliate. Accordingly, the Employee agrees and covenants that during the term of the Employee’s
employment with the Company, and for a period of three (3) years thereafter, beginning on the last day of the Employee’s employment
with the Company, whether terminated for any reason or no reason, by the Employee or the Company, not to disclose or use Supplier Information
for any purpose in violation of this PRA, and the Employee shall not directly or indirectly solicit, contact, or attempt to solicit or
contact, using any other form of oral, written, or electronic communication, including, but not limited to, email, regular mail, express
mail, telephone, fax, or instant message, or social media, including but not limited to Facebook, LinkedIn, Instagram or Twitter, or any
other social media platform, whether or not in existence at the time of entering into this PRA, or meet with the Company’s current,
former, or prospective Suppliers for purposes of entering into contractual arrangements with such Suppliers similar to or competitive
with those of the Company. However, it will not be deemed a violation of this PRA if the Employee merely updates the Employee’s
LinkedIn profile, or connects with a covered Supplier on Facebook or LinkedIn, without engaging in any other substantive communication,
by social media or otherwise, that is prohibited by this Section 6(d). This restriction shall only apply to: (i) Suppliers the Employee
contacted in any way during three (3) years prior to the cessation of Employee’s employment with the Company; (ii) Suppliers about
whom or which the Employee has Confidential Information; (iii) Suppliers who became Suppliers during the Employee’s engagement with
the Company; and, or (iv) Suppliers about whom or which the Employee has information that is not available publicly.

 

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Non-Disparagement.
The Employee agrees and covenants that it shall not at any time make, publish or communicate to any person or entity or in any public
forum any defamatory or disparaging remarks, comments or statements concerning the products or services of the Company or any Company
Affiliates, or make any maliciously false statements about the Company, any Company Affiliates, any Investors, any Suppliers, and any
of their respective owners, members, shareholders, partners, representatives, employees or contractors.

 

Exit Obligations.
Upon the voluntary or involuntary termination of the Employee’s employment with the Company, or upon the Company’s request
at any time during the term of the PRA, the Employee shall: (a) provide or return to the Company any and all property and documents and
materials belonging to the Company and/or any Company Affiliates and stored in any fashion, including but not limited to, those that constitute
or contain any Confidential Information or Work Product, that are in the possession or control of the Employee, whether they were provided
to the Employee by the Company, by any Company Affiliates, or by any of their respective business associates or created by the Employee
in connection with the Employee’s performance of employment duties ; and (b) delete or destroy all copies of any such documents
and materials not returned to the Company that remain in the Employee’s possession or control, including those stored on any non-Company
devices, networks, storage locations and media in the Employee’s possession or control.

 

Assignment.
The Employee agrees to assign and transfer and hereby does transfer to the Company, for good and valuable consideration, the receipt and
adequacy of which is hereby acknowledged, all right, title and interest, including any and all Intellectual Property Rights pertaining
thereto, in any and all works created, made, conceived, invented, developed, discovered or reduced to practice by the Employee in the
course of his/her employment duties on behalf of the Company. The Employee shall promptly notify and disclose to the Company each produced
Work Product and shall communicate, without cost or delay, all available information relating thereto to the Company. The Employee shall
execute, make and do all such deeds, documents, and acts and things as the Company and its duly authorized agents may reasonably require,
to obtain and vest in the name of the Company alone letters, patents, copyrights, or other analogous protection in any country throughout
the world and, when so obtained or vested, renew and restore the same, and defend any opposition proceedings in respect of such applications
and any opposition proceedings or petitions or applications for revocation of such letters, patents, copyrights or other analogous protection.

 

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License.
In the event that, notwithstanding the other provisions of this PRA, the Employee is determined to own or have any Intellectual Property
Rights that are used, embodied, or reflected in the Work Product, the Employee hereby grants to the Company, the Company Affiliates, and
each of their successors and assigns, an irrevocable, perpetual, exclusive, fully paid-up, non-assessable worldwide, royalty-free right
and license to use, execute, reproduce, display, and perform the Work Products, to prepare any derivative or collective works based upon
or containing the Work Product, to distribute, assign, transfer, re-license and sublicense for any purpose the Work Product, and to authorize
others to do any or all of the foregoing.

 

Remedies.
The Employee acknowledges that the Confidential Information and the Company’s ability to reserve it for the exclusive knowledge
and use of the Company and/or any Company Affiliates is of great competitive importance and commercial value to the Company and/or applicable
Company Affiliate(s), and that improper use or disclosure of the Confidential Information by the Employee will cause irreparable harm
to the Company and/or Company Affiliate(s) for which remedies at law will not be adequate. In the event of a breach or threatened breach
by the Employee of any of the provisions of this PRA, the Employee hereby consents and agrees that the Company shall be entitled to seek,
in addition to other available remedies, a temporary or permanent injunction or other equitable relief against such breach or threatened
breach from any court of competent jurisdiction, without the necessity of showing any actual damages or that monetary damages would not
afford an adequate remedy, and without the necessity of posting any bond or other security. The aforementioned equitable relief shall
be in addition to, not in lieu of, legal remedies, monetary damages or other available forms of relief. In the event the Employee fails
to abide by any of the provisions contained in this PRA, the time periods contained in this PRA shall be extended by the period of time
in which the Employee has failed to abide by said provisions.

 

MANDATORY ARBITRATION OF
DISPUTES. EXCEPT FOR THE COMPANY’S RIGHT TO PURSUE
INJUNCTIVE RELIEF IN ACCORDANCE WITH SECTION 11 OF THIS PRA, ANY CLAIM OR DISPUTE ARISING OUT OF OR RELATING IN ANY WAY TO: (A) THE PARTIES’
EMPLOYMENT RELATIONSHIP OR TERMINATION OF THAT RELATIONSHIP, WHETHER BASED IN CONTRACT, TORT, FEDERAL, STATE, OR MUNICIPAL STATUTE, FRAUD,
MISREPRESENTATION, OR ANY OTHER LEGAL THEORY; (B) THE USE, DISCLOSURE, OWNERSHIP IN ANY WAY RELATING TO CONFIDENTIAL INFORMATION OR WORK
PRODUCT; AND/OR (C) ANY DISPUTE ARISING OUT OF THE FORMATION, PERFORMANCE, INTERPRETATION, NULLIFICATION, TERMINATION OR INVALIDATION
OF THIS PRA, OR ARISING FROM OR RELATED TO ANY OF THE FOREGOING, IN ANY MANNER WHATSOEVER, WILL BE EXCLUSIVELY AND FINALLY RESOLVED BY
A SINGLE ARBITRATOR UNDER THE JAMS EXPEDITED RULES OF ARBITRATION. THE ARBITRATION SHALL BE HELD IN FORT WORTH, TEXAS. THE PARTIES SHALL
SELECT A MUTUALLY AGREEABLE NEUTRAL ARBITRATOR FROM JAMS OR, IF THEY CANNOT AGREE, ANY PARTY MAY REQUEST THAT JAMS APPOINT A SINGLE ARBITRATOR
IN ACCORDANCE WITH ITS APPLICABLE RULES. THE ARBITRATOR’S DECISION WILL BE BINDING ON THE PARTIES AND MAY BE CONFIRMED IMMEDIATELY
IN ANY COURT OF COMPETENT JURISDICTION. THE ARBITRATION PROCEEDING AND ALL MATERIALS, SUBMISSIONS AND DOCUMENTS RELATING THERETO WILL
BE TREATED AS CONFIDENTIAL INFORMATION IN ACCORDANCE WITH THE PROVISIONS OF THIS AGREEMENT AND THE PRA. THE ARBITRATOR’S FEES AND
TRAVEL EXPENSES ALONG WITH ANY FEES FOR USE OF THE ARBITRATION FACILITY SHALL BE PAID BY THE COMPANY. EACH PARTY SHALL PAY ITS OWN ATTORNEYS’
FEES AND ONE-HALF (V2) OF ALL OTHER COSTS ASSOCIATED WITH THE ARBITRATION. ALL PARTIES TO THIS AGREEMENT HEREBY IRREVOCABLY WAIVE ANY
AND ALL DEFENSES TO A MOTION OR ANY OTHER PLEADING BROUGHT BY ANY PARTY IN A COURT OF COMPETENT JURISDICTION TO COMPEL ARBITRATION IN
ACCORDANCE WITH THE TERMS OF THIS SECTION 12 OF THIS PRA. IF ANY PARTY BREACHES THE PROVISIONS OF THIS SUBSECTION BY BRINGING AN ACTION
IN ANY FORUM NOT SPECIFICALLY PROVIDED FOR HEREBY, SUCH PARTY SHALL PAY THE REASONABLE ATTORNEYS’ FEES AND EXPENSES INCURRED BY
THE OTHER PARTY IN CONNECTION WITH SUCH PROCEEDINGS. THE ARBITRATOR SHALL HAVE THE AUTHORITY TO GRANT ANY REMEDY OR RELIEF THE ARBITRATOR
DEEMS JUST AND EQUITABLE, INCLUDING INJUNCTIVE RELIEF, SPECIFIC PERFORMANCE, AND TO AWARD TO THE PREVAILING PARTY OR MOST PREVAILING PARTY
THAT PARTY’S REASONABLE COSTS AND EXPENSES OF THE ARBITRATION AND/OR REASONABLE ATTORNEYS’ FEES WHICH SHALL BE PAID BY THE
OTHER PARTY.

 

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WAIVER OF JURY TRIAL.
TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, EACH PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL
BY JURY IN ANY LEGAL ACTION, PROCEEDING, CAUSE OF ACTION OR COUNTERCLAIM ARISING OUT OF OR RELATING TO (A) THE PARTIES’ EMPLOYMENT
RELATIONSHIP OR TERMINATION OF THAT RELATIONSHIP, WHETHER BASED IN CONTRACT, TORT, FEDERAL, STATE, OR MUNICIPAL STATUTE, FRAUD, MISREPRESENTATION,
OR ANY OTHER LEGAL THEORY; (B) THE USE, DISCLOSURE, OWNERSHIP IN ANY WAY RELATING TO CONFIDENTIAL INFORMATION OR WORK PRODUCT; AND/OR
(C) ANY DISPUTE ARISING OUT OF THE FORMATION, PERFORMANCE, INTERPRETATION, NULLIFICATION, TERMINATION OR INVALIDATION OF THIS PRA, OR
ARISING FROM OR RELATED TO ANY OF THE FOREGOING.

 

CONSENT TO VENUE.
IF EITHER PARTY COMMENCES ANY LEGAL ACTION OR PROCEEDING IN COURT ARISING OUT OF OR RELATING TO (A) THE PARTIES’ EMPLOYMENT RELATIONSHIP
OR TERMINATION OF THAT RELATIONSHIP, WHETHER BASED IN CONTRACT, TORT, FEDERAL, STATE, OR MUNICIPAL STATUTE, FRAUD, MISREPRESENTATION,
OR ANY OTHER LEGAL THEORY; (B) THE USE, DISCLOSURE, OWNERSHIP IN ANY WAY RELATING TO CONFIDENTIAL INFORMATION OR WORK PRODUCT; AND/OR
(C) ANY DISPUTE ARISING OUT OF THE FORMATION, PERFORMANCE, INTERPRETATION, NULLIFICATION, TERMINATION OR INVALIDATION OF THIS PRA, OR
ARISING FROM OR RELATED TO ANY OF THE FOREGOING, THE PARTIES AGREE THAT ANY SUCH PROCEEDING MUST BE COMMENCED IN THE STATE OR FEDERAL
COURTS LOCATED IN TARRANT COUNTY, TEXAS. THIS SECTION 14 IS SUBJECT TO SECTION 12 OF THIS AGREEMENT AND NOTHING SET FORTH IN THIS SECTION
14 IS INTENDED TO OR SHOULD BE CONSTRUED TO SUPERSEDE EITHER PARTY’S RIGHT TO COMPEL ARBITRATION PURSUANT TO SECTION 12 OF THIS
AGREEMENT.

 

Notice.
All notices and other communications given or made pursuant to this PRA shall be in writing and deemed effectively given: (a) upon personal
delivery to the party to be notified; (b) five (5) calendar days after having been sent by registered or certified mail, return receipt
requested, postage prepaid; or (c) one (1) business day after deposit with a nationally recognized overnight courier, specifying next-day
delivery, with written verification of receipt. All communications to the Employee shall be sent to the last address of the Employee’s
residence provided by the Employee to the Company. All communications to the Company shall be sent to the Company’s principal place
of business, to the attention of Human Resources Department.

 

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General Provisions.

 

Severability.
Should any provision of this PRA be held by the arbitrator or any court of competent jurisdiction to be enforceable only if modified,
or if any portion of this PRA shall be held as unenforceable and thus stricken, such holding shall not affect the validity of the remainder
of this PRA, the balance of which shall continue to be binding upon the Parties with any such modification to become a part hereof and
treated as though originally set forth in this PRA. The Parties further agree that any such arbitrator or court is expressly authorized
to modify any such unenforceable provision of this PRA in lieu of severing such unenforceable provision from this PRA in its entirety,
whether by rewriting the offending provision, deleting any or all of the offending provision, adding additional language to this PRA or
by making such other modifications as it deems warranted to carry out the intent and agreement of the Parties as embodied herein to the
maximum extent permitted by law. The Parties expressly agree that this PRA as so modified by the court shall be binding upon and enforceable
against each of them. In any event, should one or more of the provisions of this PRA be held to be invalid, illegal or unenforceable in
any respect, such invalidity, illegality or unenforceability shall not affect any other provisions hereof, and if such provision or provisions
are not modified as provided above, this PRA shall be construed as if such invalid, illegal or unenforceable provisions had not been set
forth herein.

 

Survival.
The provisions of this PRA which by their terms impose obligations that extend beyond any termination of this PRA shall survive such termination
and continue for the duration specified in such provisions, or, if such specified duration is unenforceable, or if no duration is specified,
then for the longest period permitted under applicable law.

 

Assignment; Successors
and Assigns. This PRA, and the Employee’s duties to the Company, shall not be assignable by the Employee. In all events, this
PRA shall be binding upon the heirs, trustees, executor(s), administrator, successors and assigns of the Employee. The Company may assign
this PRA, in whole or in part, without the notice to or consent from the Employee.

 

Interpretation.
The section and article headings contained in this PRA are inserted for convenience of reference only and shall not affect the meaning
or interpretation of this PRA. Whenever the words “include”, “includes” or “including” are used, they
shall be deemed to be followed by the words “without limitation.” The words “hereof”, “herein” and
“herewith” and words of similar import shall be construed to refer to this PRA as a whole (including any exhibits or addendum
attached hereto) and not to any particular provision of this PRA, unless clearly indicated otherwise. The meaning assigned to each term
defined herein shall be equally applicable to both the singular and the plural forms of such term, and words denoting any gender shall
include all genders. Where a word or phrase is defined herein, each of its other grammatical forms shall have a corresponding meaning.
A reference to any Party to this PRA or any other agreement or document shall include such party’s successors and permitted assigns.
The language used in this PRA will be deemed to be the language chosen by the Parties hereto to express their mutual intent, and no rule
of strict construction will be applied against any Party.

 

    11

     

    

 

Waiver. No
waiver by the Company for any breach or default by the Employee of the terms of this PRA shall be a waiver of any other breach or default
of another provision of this PRA. No delay on the part of the Company in exercising ally right or remedy under this PRA shall operate
as a waiver thereof, nor shall any single or partial exercise of right or remedy by the Company preclude other or future exercise of any
other right or remedy of the Company.

 

Governing Law
and Venue. This PRA shall be governed by and construed in accordance with the laws of the State of Texas without giving effect to
any applicable conflicts of law provisions.

 

Entire Agreement.
This PRA embodies the entire agreement and understanding between the Parties with respect to its subject matter and supersedes all prior
discussions, agreements, and undertakings between the Parties. No amendments to this PRA or term or condition herein shall be effective
unless executed in writing by an authorized representative of each Party.

 

Counterparts;
Electronic Signatures. This PRA may be executed in counterparts, each of which shall be deemed an original, but all of which together
shall constitute one and the same instrument. A copy of a signature received through electronic transmission or other electronic means
(including files in Adobe .pdf or similar format, and/or electronic signature services such as DocuSign, HelloSign, etc.) shall bind the
Party whose signature is so received, and shall be considered for all purposes, as if such signature were an original. This PRA and all
other contracts, exhibits, schedules, or instruments entered into in connection with the PRA, and any amendments, hereto or thereto, to
the extent delivered by means of an electronic mail or electronic transmission (any such delivery, an “Electronic Delivery”)
shall be treated in all manner and respects as an original signed version thereof delivered in person. If this PRA is executed through
digital or electronic means, and/or delivered through Electronic Delivery, the Employee agrees that promptly upon the Company’s
request, he/she shall re-execute original forms thereof and deliver them to all the Company. No Party hereto shall raise the use of Electronic
Delivery to deliver a signature or the fact that any signature or contract or instrument was transmitted or communicated through the use
of Electronic Delivery as a defense to the enforcement of this PRA and each such Party forever waives any such defense, except and only
to the extent such defense is substantially based upon lack of authenticity.

 

THE EMPLOYEE REPRESENTS AND WARRANTS THAT THE
EMPLOYEE HAS READ THIS AGREEMENT, AND THAT THE EMPLOYEE UNDERSTANDS ITS TERMS. THE EMPLOYEE ACKNOWLEDGES THAT, PRIOR TO ASSENTING TO THE
TERMS OF THIS AGREEMENT, THE EMPLOYEE HAS BEEN GIVEN A REASONABLE TIME TO REVIEW IT, TO CONSULT WITH COUNSEL OF THE EMPLOYEE’S OWN
CHOICE, AND TO NEGOTIATE AT ARM’S LENGTH WITH THE COMPANY AS TO ITS TERMS AND CONTENTS.

 

[Remainder of this page intentionally left blank;
signature page follows]

 

    12

     

    

 

 

 

IN WITNESS WHEREOF, the Company
and the Employee have caused this PRA to be executed and be effective and binding upon the Parties as of the Effective Date set forth
below.

 

Effective Date: December___, 2021

 

	BY THE COMPANY:	 
	 	 	 
	Rhodium Shared Services LLC,	 
	a Delaware limited liability company	 
	 	 	 
	By:	Rhodium Technologies LLC	 
	Its:	Manager	 
	 	 	 
	 	 
	By:	Cameron Blackmon	 
	Its:	Authorized Signatory	 
	 	 	 
	BY THE EMPLOYEE:	 
	 	 	 
	 	 
	(Signature)	 
	 	 	 
	 	 
	(Print Name)	 

 

 

 

 

 

 

 

 

[Signature page to Confidentiality, Proprietary
Rights and Protective Covenants Agreement]Exhibit 10.6

 

SPECIFIC
TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE SUCH TERMS ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE
OR CONFIDENTIAL. THESE REDACTED TERMS HAVE BEEN MARKED IN THIS EXHIBIT WITH THREE ASTERISKS [***].

 

Form of New Hosting Service Agreement

 

THIS AGREEMENT (defined below) shall be effective upon the date of
receipt of the electronic signature by Whinstone US, Inc.

 

BY AND BETWEEN

 

Whinstone US, Inc., a company having its registered office located
at 2721 Charles Martin Hall Road, Rockdale, Texas 76567 (“Whinstone”)

 

AND

 

Rhodium JV LLC of [***], Texas [***], (the “Customer”).

 

Whinstone and the Customer are referred to individually as “Party”
and collectively as “Parties”.

 

WHEREAS

 

		(A)	Whinstone wishes to provide electrical power at its site under the terms and conditions contained in this New Hosting Service Agreement
entered into by and between the Parties as of the seal or signature date of both Parties with a Ready For Use (“RFU”)
Date to be set by the Customer no sooner than thirty (30) days from the date of the RFU Notice (as hereinafter defined); and

 

		(B)	The Customer desires to utilize Whinstone’s services and intends operate [***] MW of Miners and immersible equipment on Whinstone’s
property in [***], Texas.

 

NOW THEREFORE, the parties hereby agree as follows:

 

		1.	DEFINITIONS

 

		1.1	In this Agreement the following words and expressions shall have the meanings set out below. Additional terms may be defined in the
context of particular provisions of this Agreement:

 

“Agreement” means these terms and conditions,
any orders placed under them, and any amendments or additions or replacements to any of the aforementioned;

 

“AUP” or “Acceptable Usage Policy”
means Whinstone Acceptable Usage Policy from time to time which, at the date of this Agreement, is set out in a Schedule to this Agreement;

 

“Advanced Remote Hands Service” means
repair and maintenance services that require taking Customer Equipment off rack as detailed in Clause 2.4 below;

 

“Background IP” shall have the meaning
set out in Clause 6.5 below;

 

“Basic Remote Hands Service” means repair
and maintenance services performed without taking Customer Equipment off rack as detailed in Clause 2.3 below;

 

“Business Day” means a day which is not
a Saturday, Sunday or a public holiday in the United States;

 

“Capital Expenditure” shall have the meaning
ascribed to that term in Clause 3.14.1 below.

 

     

     

    

 

“Confidential Information” means the terms
of this Agreement and all information whether in written or any other form which has been or may be disclosed in the course of the discussions
leading up to the entering into or performance of this Agreement and which is identified as confidential or is clearly by its nature confidential
including information relating to this Agreement or the Services, data used or generated in the provision of the Services, or any of Customer’s
products, operations, processes, plans or intentions, know- how, trade secrets, market opportunities, customers and business affairs;

 

“Customer Equipment” means the Customer’s
Miners and other Customer equipment installed in the Licensed Area;

 

“Data Center” means the Whinstone leased
site located at [***] in [***], Texas;

 

“Data Center Rules” means the rules applying
to the Customer’s use of the Data Center;

 

“Data Protection Laws” means the laws
and regulations governing the use of personal data;

 

“Defaulting Party” shall have the meaning
set out in Clause 13.2 below;

 

“Developed IP” shall have the meaning
set out in Clause 6.5 below;

 

“Extended Term” shall have the meaning
set out in Clause 13.1 below;

 

“Force Majeure” means any event beyond
the reasonable control of either or both of the parties including but without limitation to war, civil war, armed conflict or acts of
terrorism or a public enemy or other catastrophes, riot, civil commotion, malicious damage, compliance with any law or governmental order,
rule or regulation or direction coming into force after the date of this Agreement, epidemics, pressure waves caused by devices traveling
at supersonic speeds, nuclear accident, and acts of God and strikes, slowdowns, lockouts or other labor stoppages excluding employee(s)
of Whinstone affecting third parties which in each case causes either party to be unable to comply with all or a material part of its
obligations under this Agreement;

 

“Hosting Service” means service providing
electrical power and ventilation to the Customer Equipment as detailed in Clause 2.2 below;

 

“Initial Term” shall have the meaning
set out in Clause 13.1 below;

 

“Intellectual Property” means all intellectual
property, including patents, utility models, trade and service marks, trade names, domain names, rights in designs, copyrights, moral
rights, topography rights, rights in databases, trade secrets and know-how, in all cases whether or not registered or registrable and
including registrations and applications for registration of any of these and rights to apply for the same, rights to receive equitable
remuneration in respect of any of these and all rights and forms of protection of a similar nature or having equivalent or similar effect
to any of these anywhere in the world;

 

“IP Connection Service” means the connection
to the Customer Equipment permitting communication with the Internet as specified in the Service Details;

 

“Licensed Area” means the Building C where
the Customer Equipment will be placed;

 

“Maintenance” means any work carried out
by Whinstone in order to upgrade, improve or maintain the Service including any modification, change, addition or replacement which does
not detract from, reduce or impair the overall quality or performance of the Service;

 

    2

     

    

 

“Miners” means cryptocurrency mining machines,
which are part of the Customer Equipment, which connect using the IP Connection Service and send computation results to the Mining Pool.

 

“Mining Pool” is the pooling of resources
by Miners, who share their processing power over a network, to split the reward equally, according to the amount of work they contributed
to the probability of finding a block.

 

“Services” collectively means Hosting
Service, Basic Remote Hands Service, and Advanced Remote Hands Service, with the Hosting Service and Basic Remote Hands Service provided
as needed to the Customer;

 

“Service Details” means service details
in the format provided by Whinstone pursuant to which the Customer may request Services;

 

“Party” means Whinstone and the Customer
(as the case may be) and shall include their permitted assignees and “Parties” shall mean both of them;

 

“Pass Through Rate” shall have the meaning
set out in Clause 3.11.2 below; “Personal Data” shall have the meaning as defined under the Data Protection Laws; “PPM
Agreement” shall have the meaning set out in Clause 3.11.2 below;

 

“RFU Date” means the Ready For Use Date,
which is the date Whinstone will fully provide the Customer the Services;

 

“RFU Notice” means the written notice
provided by the Customer to Whinstone setting the Ready For Use Date. This RFU Notice shall be provided to Whinstone no less than thirty
(30) days prior to the Ready For Use Date set forth in the RFU Notice.

 

“Representatives” means, in relation to
any party, its officers, employees and agents;

 

“Scheduled Maintenance” means Maintenance
that is: (i) carried out between the hours of 12:00 am to 6:00 am; and (ii) notified to the Customer at least five (5) Business Days in
advance;

 

“Specified Power Draw” shall have the
meaning set out in Clause 3.13 below;

 

“Whinstone Equipment” means any equipment
which is supplied by or on behalf of Whinstone to the Customer for the purpose of providing the Services and includes any equipment specified
in Service Details; and

 

		1.2	In the event of any conflict between any of the documents referred to in this Clause 1.2, they shall be given the following order
of priority:

 

		1.2.1	the terms of the relevant Service Details;

 

		1.2.2	the terms set out in this Agreement; and

 

		1.2.3	the terms set out in the AUP.

 

		1.3	In the Agreement:

 

		1.3.1	references to Clauses, paragraphs and subparagraphs are references to clauses, paragraphs, subparagraphs of or to this Agreement;

 

		1.3.2	the headings contained in this Agreement are for convenience only and shall not influence the interpretation of this Agreement;

 

		1.3.3	any reference to a statute, statutory provision, subordinate legislation, code or guideline (“legislation”) is a reference
to such legislation as amended and in force from time to time and to any legislation which re-enacts or consolidates (with or without
modification) any such legislation.

 

    3

     

    

 

		1.4	Whinstone and the Customer each represents and warrants to each other that it has the power to enter into, exercise its rights under
and perform and comply with its obligations under this Agreement and all actions, conditions and things required to be taken, fulfilled
and done by it to so enter into, exercise its rights under and perform and comply with its obligations under this Agreement and ensure
that those obligations are valid, legally binding and enforceable have been taken, fulfilled and done.

 

		2.	SERVICE DESCRIPTION

 

		2.1	Data Center Facilities

 

		2.1.1	Whinstone will provide an installation environment for the Customer Equipment including, but not limited to, the Licensed Area in
[***] buildings, rack systems, electricity supply (including PDU), transforming equipment, free air cooling (including evaporative cooling
and single phase liquid cooling), smoke detection, IP Connection Service and physical security. Physical security includes 24-hour patrol,
camera security, and a fence around the Licensed Area.

 

		2.1.2	Whinstone shall grant the Customer, free of charge, escorted access to the property in [***], TX for equipment inspections, installation,
removal, additions, subtractions or physical maintenance by prior appointment.

 

		2.1.3	With written prior consent of the Customer, Whinstone may relocate the Customer Equipment within the Data Center or to another facility
operated by Whinstone provided that there are no changes to the terms of this Agreement. Any such relocation of the Customer Equipment
will be carried out by Whinstone. Any costs incurred in relation to such relocation will be borne by Whinstone. The Customer shall reserve
the right to inspect the new facility beforehand.

 

		2.1.4	When the Customer visits the property in [***], TX or accesses the Data Center network remotely the Customer shall at all times comply
with the Data Center Rules that have been provided to the Customer in advance; provided, however, that the Customer shall only be obligated
to comply with such Data Center Rules to the extent that they are reasonable. Whinstone shall provide the Customer a copy of the Data
Center Rules and shall send a new copy if there are any changes made therein.

 

		2.1.5	Whinstone represents and warrants that building or other permits, city inspection, or certification is not required with regard to
providing services under this Agreement.

 

		2.1.6	Whinstone represents and warrants that the Data Center has been certified by the Texas Comptroller of Public Accounts as, and is presently
publicly registered with the Texas Comptroller as a “Qualifying Data Center” within the meaning of the Texas Tax Code Section
151.359 and the rules promulgated thereunder, and, as such, is entitled to claim an exemption from the Texas state sales tax for qualifying
purchases. Whinstone covenants and agrees that the Data Center shall remain certified by and publicly registered with the Texas Comptroller
as a “Qualifying Data Center” during and throughout the Initial Term.

 

		2.2	Overview of Hosting Service Whinstone shall be responsible for the following:

 

		2.2.1	License of the Licensed Area.

 

		2.2.2	Provision of the cabling for a connection to the IP Connection Service by way of a CAT 5e Ethernet cable.

 

		2.2.3	Escorted access by the Customer’s employees to the Customer Equipment at any time from 10 am to 5 pm Monday through Friday.

 

		2.2.4	Monitored alarm and security call out service.

 

		2.2.5	Physical Security: The facility will be surrounded by fencing and monitored by security cameras. Whinstone shall implement access
control policies to ensure non-authorized persons are not able to enter the facility. Armed personnel will be onsite at all times.

 

    4

     

    

 

		2.2.6	IT Security: Whinstone will install a firewall and implement an IT security policy to prevent unauthorized access physically or remotely,
viruses and ransomware. However, the Customer shall have the right to install its own firewall and implement its own security policies
in the place of or in addition to Whinstone as mutually agreed to by both parties.

 

		2.2.7	Fire detection and alarm system.

 

		2.2.8	Equipment parts storage and inventory management.

 

		2.2.9	After the RFU Date, acceptance of delivery of the Customer Equipment between 10:00 am to 4:00 pm on Business Days, subject to two
(2) Business Days’ notice to Whinstone, to be stored prior to installation.

 

		2.2.10	Whinstone will be solely responsible for handling any complaints from third parties with respect to the noise from the Customer Equipment
and shall hold the Customer harmless from any responsibility or costs arising out of or in relation to such complaints.

 

		2.2.11	Whinstone will install all Customer Equipment on the data center racks, provide power and internet connection within thirty days of
RFU Date. Installation includes unpacking, assembly and installation, LAN cable and power connection, initial setting, and garbage disposal.

 

		2.2.12	Whinstone will provide stable power supply to the Customer’s equipment at [***]V. The equipment’s power consumption may
be adjusted by following instructions from the manufacturer. Whinstone will comply with any request from the Customer to adjust the power
consumption if the total power consumption of all Customer equipment does not exceed the Specified Power Draw, or fall below [***] of
the Specified Power Draw, unless both Parties mutually agree to do so.

 

		2.2.13	Whinstone will follow the Service Level Agreement in Clause 4 and make its best efforts to ensure:

 

		i.	Average air intake temperature into the Customer’s Miners is not greater than 30 degrees Celsius by maintaining sufficient airflow,
preventing mixing of cool and hot exhaust air from the equipment in the data center, and using evaporative cooling;

 

		ii.	Filters are used in the air intake system of the data center facility, and the air inside the data center is free of dust, insects,
corrosion, precipitation and condensation.

 

		iii.	Intake and exhaust fans are free of obstruction or debris.

 

		2.2.14	Whinstone will label all the Customer Equipment, cables, replacement parts to track inventory, replacement parts, and to make Basic
Remote Hand Service the most efficient.

 

		i.	Whinstone will reference Miners with a unique identifiable identification number when giving reports to the Customer;

 

		ii.	For equipment other than Miners which may not have a unique ID number, Whinstone will properly label and store the equipment separate
from other customers in the data center.

 

		2.2.15	Whinstone will provide monthly reports to the Customer. These reports shall contain a summary of monthly power draw as measured from
power consumption meters and include appropriate billing owed to Whinstone by the Customer.

 

		2.2.16	Whinstone will provide Basic Remote Hands Service at no extra charge as outlined in Clause 2.3.1 and will offer Advanced Remote Hands
Service for additional cost as outlined in Clause 2.4.1.

 

		2.2.17	Customers may inspect the site before shipping its equipment and supplies to bring the Customer’s Miners online. Upon completion
of the inspection, the Customer may reduce the Specified Power Draw cited in Clause 3.12.1 if the site does not meet Customer’s
expectations and reduce the Advanced Remote Hands Service fee by the same proportionate amount as the reduction of Specified Power Draw.

 

    5

     

    

 

		2.3	Basic Remote Hands Service

 

		2.3.1	Basic Remote Hands Service is available twenty-four (24) hours a day, seven (7) days a week. Where requested by the Customer, Whinstone
staff shall be available to perform the following tasks only on the instructions of the Customer in respect of the Customer Equipment:

 

		i.	Remote monitoring of equipment performance and status;

 

		ii.	Remote fault diagnosis;

 

		iii.	Pushing a button;

 

		iv.	Switching a toggle;

 

		v.	Power cycling (turning on/off) the Customer Equipment;

 

		vi.	Re-setting, rebooting the Customer Equipment;

 

		vii.	Securing cabling to connections

 

		viii.	Observing, describing and/or reporting to the Customer indicator lights or display information on machines or consoles;

 

		ix.	Cable organization;

 

		x.	Modifying basic cable layout, labelling and/or re-labelling of the Customer Equipment;

 

		xi.	Cable patching;

 

		xii.	Checking alarms for faults; and/or

 

		xiii.	Inserting/removing discs or equivalent storage devices into/ from the Customer Equipment.

 

		2.4	Advance Remote Hands Service

 

		2.4.1	The following Advanced Remote Hands Services are not included in the Basic Remote Hands Service but may be provided by Whinstone to
the Customer on a best effort basis. Unless explicitly expressed in Clause 2.3.1, in cases of ambiguity between Advanced Remote Hands
Services and Basic Remote Hands Services, Advanced Remote Hands Services shall come into effect if the Customer Equipment must be taken
off the rack:

 

		i.	Installing applications or software to the Customer Equipment;

 

		ii.	Uploading of data to the Customer Equipment;

 

		iii.	Configuring the Customer Equipment operating system;

 

		iv.	Configuring any software or applications on the Customer Equipment;

 

		v.	Customer Equipment component fault diagnosis;

 

		vi.	Software component fault diagnosis;

 

		vii.	Rectifying problems caused by the Customer Equipment or software;

 

		viii.	Rectifying problems caused by the Customer; or

 

		ix.	Any service whatsoever requiring the opening of the outer casing of any of the Customer Equipment.

 

    6

     

    

 

		2.4.2	Communication for Advance Remote Hands Service shall be done via email or Whinstone’s ticketing system. Whinstone will follow
the Service Level Agreement as well as the work schedule specified in Clause 4.

 

		2.4.3	Advanced Remote Hands Service shall be provided by Whinstone to the Customer for a fixed monthly fee as detailed in Clause 3.12, separately
from Hosting Fees which includes only the Basic Remote Hands Service.

 

		3.	CHARGES AND PAYMENTS

 

		3.1	In consideration of the provision of the Services, the Customer shall pay charges in accordance with this Clause 3.

 

		3.2	Whinstone shall issue a monthly invoice to the Customer no later than the tenth day of the following month containing all charges
and fees for providing the Services under this contract, including the Hosting Fees prepayment under 3.11.2. The Customer shall pay the
undisputed amounts of such invoice no later than the last day of the month in which the Customer receives it.

 

		3.3	If the Customer requests Whinstone to provide any services other than contemplated in this Agreement, Whinstone shall be entitled
to invoice the Customer for any and all changes to such services pursuant to the agreement between the parties.

 

		3.4	If either Party fails to pay any amount owed under this Agreement by the dates set forth herein:

 

		3.4.1	The Party to receive payment shall be entitled but not obliged to charge the Customer interest at a rate of [***]% per year on the
overdue amount commencing 14 business days after the due date up to the date of actual payment.

 

		3.4.2	Actual power consumption is measured at the end of each month, and a credit or debit is applied toward the next hosting fee prepayment
invoice. If the credit or debit is not paid or applied on that invoice, the Party to receive payment shall be entitled but not obliged
to charge the other Party interest [***]% per year on the overdue amount commencing 14 business days after the due date of the invoice
to the date of actual payment.

 

		3.5	All charges and payments referred to in this Agreement are inclusive of sales tax (if applicable) and all similar taxes and duties
payable in respect of such payments. To the extent that additional tax is properly chargeable to the Customer, the Customer shall pay
at the time that the payment becomes due.

 

		3.6	All amounts due under this Agreement shall be paid in accordance with all work performed and services provided. In the event that
the Parties change the scope of the services,

 

Whinstone and the Customer will agree on all billing changes
and handle each credit or debit once there is a mutual agreed amount.

 

		3.7	In the event of any failure by either Party to make full payment to the other Party of any and all amounts due pursuant to this Agreement,
the Party owing payment shall be responsible for all costs and expenses which the other Party reasonably incurs in collecting such amounts.

 

		3.8	The Parties may combine charges and invoices and offset any amounts owed to the other Party.

 

		3.9	This Clause intentionally left blank.

 

    7

     

    

 

		3.10	Installation Fees

 

		3.10.1	This Clause intentionally left blank.

 

		3.10.2	Installation is considered complete when the Miner is seen remotely connecting to the Mining Pool and sending computation. In cases
of faulty equipment, installation will be considered complete when Whinstone diagnoses the fault, sends a report to the Customer, and
completes installation of alternative equipment.

 

		3.10.3	This Clause intentionally left blank. 

 

		3.11.	Hosting Fees

 

		3.11.1	The Hosting Fees cover all services and items specified in this Agreement except for Advanced Remote Hands Service in Clause 3.12
and is calculated based on the power consumption of the Customer Equipment and shall not include Whinstone’s own equipment (PUE)
or the equipment of Whinstone’s other customers.

 

		3.11.2	The Hosting Fee rate is the lesser of either (i) $[***] USD or (ii) the “Pass Through Rate” as hereinafter defined. As
used herein, the “Pass Through Rate” is defined as the lesser of either (i) the “Net Effective Rate” as
that rate is defined and calculated in the New Hosting Service Agreement No. #R-5MW-001 Pro Forma Pricing Model attached as Attachment
C to that certain Power Services Agreement entered into by and between Whinstone and Priority Power Management LLC on April 3, 2020 (the
“PPM Agreement”) or (ii) the exact price at which Whinstone is billed monthly for electricity provided to Customer
per kilowatt-hour. The Hosting Fee rate shall remain unchanged for [***] years under any Extended Term under Clause 13.1. Whinstone will
install power consumption meters at the transformers.

 

		3.11.3	Whinstone, to the best of its knowledge, confirms that the “Pass Through Rate” is presently $[***] per Megawatt Hour as
shown in the Pro Forma Pricing Model attached as Attachment C to the PPM Agreement, a materially accurate copy of which is attached hereto
as Exhibit “1”. Customer understands that this rate is variable.

 

		3.11.4	Hosting Fee rate = $[***] per Megawatt Hour or lower depending on the “Pass Through Rate” for [***] years, with the option
to renew for the remainder of the Initial Term at the same pre-agreed upon terms seen in 3.11.2, in one year increments. Whinstone will
invoice a [***] kW upon deployment of the Customer Equipment. Whinstone will require the payment to be made fifteen days prior to powering
the Licensed Area.

 

		3.12	Advanced Remote Hands Service Fee

 

		3.12.1	Whinstone will invoice the Customer a fixed monthly fee of $[***] (USD) for the Advanced Remote Hands Services based on a scale of
[***] Miners, or [***]mW equivalent. Whinstone will invoice Advanced Remote Hands Services together with the Hosting Fees and the applicable
period for services rendered shall be the same month as the Hosting Fees unless otherwise specified. Notwithstanding the prior sentence,
until all Specified Power Draw is provided, and all the Miners have been installed, Whinstone will invoice the Customer for Advanced Remote
Hands Services based on the average number of installed Miners during the prior month. This fixed monthly fee will be credited towards
Customer’s power bill in the result that there is greater than or equal to [***] of the Specified Power Draw at the rate specified
in Clause 3.11.1

 

		3.12.2	Whinstone will adhere to all sections of the Service Level Agreement in Clause 4 as well as those specifically detailed for the Advanced
Remote Hands Service.

 

		3.12.3	In the likely result that the Advanced Remote Hands Service Fee is not necessary for Customer because they are monitoring their own
systems with on-site staff, Customer will elect, in writing, that this service is no longer needed. Upon election and acceptance from
Whinstone, this fixed monthly fee will be waived indefinitely.

 

		3.13	Specified Power Draw

 

		3.13.1	Whinstone will provide the Customer with at least [***] kW [***] MW of power available for the Services by the RFU Date. As a minimum
commitment, regardless of power consumption, the Customer shall pay for Hosting Fees for greater than or equal to [***] of the Specified
Power Draw at the rate specified in Clause 3.11.1.

 

    8

     

    

 

		3.13.2	Customer and Whinstone agree, to the best of their ability, to be fair in negotiations and working to a mutually beneficial decision
in the result of unforeseen circumstances.

 

For Purpose of Example and Reference, a cost of power calculation
has been provided below based on $[***]mWh ($[***]/kWh), the “Hosting Fee rate”

 

[***]

 

		3.13.3	If Whinstone determines that the over-usage of power cannot be reasonably permitted, Whinstone reserves the right to require the Customer
to remove or deactivate sufficient Customer Equipment to prevent such over-usage within 24 hours of notification, which will describe
in detail the reasons for the removal or deactivation. Whinstone shall consult with the Customer in good faith before determining to remove
or deactivate.

 

		3.14	The Customer will pay to Whinstone the “Capital Expenditure” (as defined in the following sentence) not to exceed $[***].
The Capital Expenditure shall be paid in full to Whinstone no later than [***] after the RFU Notice is provided. The “Capital
Expenditure” is defined as the lesser of either (i) the actual costs of construction and buildout of the infrastructure, building
and power requirements of the Licensed Area or (ii) [***] ($[***] USD). No later than [***] after the the
RFU date, Whinstone shall provide to Customer a full accounting of the actual costs of construction and buildout of the infrastructure,
building and power requirements of the Licensed Area along with accurate receipts, bookkeeping, and proof of purchase for all invoices
exceeding $[***] per line item.

 

		3.15	This Clause intentionally left blank.

 

		3.16	Whinstone agrees that all costs of construction and buildout of the infrastructure, building and power requirements of the Licensed
Area greater than $[***] will be at the sole cost and expense of Whinstone. Whinstone agrees that, in the result of which this $[***]
is more than necessary for the Capital Expenditure, Whinstone will refund the remaining funds to Customer.

 

		3.17	Whinstone represents and warrants that the Capital Expenditure and Hosting Fees shall be exempt from Texas state sales tax because
the expenditures for which the Capital Expenditure and Hosting Fees will be allocated are qualifying purchases for a “qualifying
data center” within the meaning of Texas Tax Code Section 151.359 and the rules promulgated thereunder. In the event that, at any
time during the Initial Term, any Texas state sales tax should be assessed on any portion of the Capital Expenditure or any portion of
the Hosting Fees, Whinstone shall pay such Texas state sales tax solely from its own funds and shall indemnify and hold harmless the Customer
from any and all liability, charges, costs, assessments, fees, fines, penalties and interest arising out of such assessment.

 

		3.18	Whinstone agrees that the Capital Expenditure allows Customer complete use of the Licensed Area for a continuous, uninterrupted period
of [***] years, unless otherwise mutually agreed upon by both Parties in writing at a later date.

 

		4.	OPERATIONS AND SERVICE LEVEL AGREEMENT (“SLA”)

 

		4.1	Whinstone reserves the right to vary the technical specifications of the Services where necessary for operational reasons and without
detracting from, reducing or impairing the overall quality or performance of the Services, after giving reasonable written notice to the
Customer (except in the case of an emergency where notice is not possible; provided, however, that in such case, Whinstone shall provide
notice to the Customer then as soon as reasonably possible).

 

		4.2	Without prejudice to Clause 4.1, Whinstone reserves the right to, after providing the Customer with reasonable advance written notice
(provided, however, that in the event of an emergency, as soon as reasonably possible) at any time to make any change, addition to or
replacement of any part of the Services where this is required to conform with any applicable safety, statutory or legal requirement,
provided that this does not detract from, reduce or impair the overall quality or performance of the Services.

 

		4.3	The Customer may report any claims including failures of performance of the Services by Whinstone to the Whinstone support center
at any time. Whinstone shall take all actions necessary to remedy such failures as soon as possible.

 

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		4.4	Interface or access to inventory, monitoring and Hashtrend software is provided to the Customer at no additional charge.

 

		4.5	Uptime Guarantee

 

		4.5.1	Whinstone guarantees an uptime percentage (percentage of time to maintain uninterrupted performance of the total Customer Equipment)
of [***]% and no more than [***] of planned downtime due to loss of power, construction, or network outage.

 

		4.5.2	Whinstone will not charge Customer for any power cost during the period of which there is interrupted performance of the total Customer
Equipment.

 

		4.5.3	Whinstone will give at least twenty-four (24) hours advance notice to the Customer via email before any datacenter downtime, or any
downtime affecting more than [***] machines at one time.

 

		4.5.4	If any unplanned event causes more than [***]% of equipment to go offline, Whinstone will acknowledge the alert within 1 hour and
report immediately to the Customer. Whinstone will attempt to begin remedy of the issue within 1 hour of alert acknowledgement and shall
provide a full incident report within 5 business days of alert acknowledgement to the Customer.

 

		4.6	Performance Guarantee

 

		4.6.1	Whinstone will perform maintenance and repairs to ensure the total daily average hashrate of all machines does not fall by more than
[***]% below the Customer Equipment manufacturer’s specified range.

 

		4.6.2	If total hourly average hashrate of all Customer Equipment falls more than [***]% compared to the previous hour, Whinstone will respond
to the incident within 1 hour and provide a full incident report within 5 business days of the incident to the Customer.

 

		4.6.3	Whinstone will make the best effort to employ a monitoring system to monitor uptime, performance and other machine metrics.

 

		4.6.4	Whinstone shall maintain average hashrate overall for Customer Equipment within the tolerance range of the equipment manufacturer’s
specifications.

 

		4.6.5	Whinstone shall acknowledge alerts from its monitoring system within 30 minutes and respond within 1 hour. If the problem cannot be
corrected, the Customer Equipment affected will be place in a maintenance queue and reported to the Customer by the next business day.

 

		4.6.6	Whinstone will reply to notices from the Customer on the same business day.

 

		4.6.7	Whinstone shall maintain an intake temperature suitable for proper operation of the machines. If any machines do overheat, Whinstone
shall turn them off as soon as possible and report the issue to the Customer.

 

		4.7	Advanced Remote Hands Service

 

		4.7.1	Whinstone will provide Advanced Remote Hands Service from 9 am to 9 pm, seven days a week. This service includes repairs, unracking/racking
units, and replacement of parts such as hashboards, fans, controller boards.

 

		4.7.2	If the hourly hashrate performance of a single Miner drops more than [***]%, Whinstone will respond within 30 minutes, and attempt
to repair or replace faulty parts and components within 1 hour. If the issue cannot be resolved within 1 hour, Whinstone will place the
equipment into a maintenance repair queue.

 

		4.7.3	Whinstone shall reduce the maintenance repair queue at all times it is not responding to any incidents.

 

		4.8	Whinstone will sell electricity in lieu of providing electricity to the Customer if the Ercot Market profitability exceeds the [***]%
of the contract price. The profit will be distributed [***]% to the Customer.

 

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		5.	WHITELABELING OF SERVICES

 

The Customer may white label the Services and arrangements
under this Agreement on a back-to-back basis to specifically named third parties upon thirty-day notification to Whinstone, and Whinstone
shall accept such execution of this right provided there are no changes to the terms of this Agreement. Any requested changes to warranties,
representations, obligations, or service levels to be provided by Whinstone shall be negotiated in good faith by the Parties. Unless prior
arrangement is made, the Customer shall be responsible for billing and collection associated with any white label offering.

 

		6.	OWNERSHIP AND INTELLECTUAL PROPERTY

 

		6.1	The Parties acknowledge and agree that the Customer Equipment is the sole property of the Customer. In no event shall Whinstone claim
ownership of any of the equipment.

 

		6.2	The Parties acknowledge and agree that any outcomes or productivities, including but not limited to, block chains, hash and digital
currencies, generated from the operation of the equipment are the sole property of the Customer. In no event shall Whinstone claim the
ownership of any of such outcomes or productivities.

 

		6.3	Whinstone shall not sell or create any mortgage, lien, or any kind of encumbrance on the Customer Equipment, the Intellectual Property,
or any outcomes or productivities owned by the Customer.

 

		6.4	The Customer will have a non-transferable license to use any IP address allocated by Whinstone to the Customer for the duration of
this Agreement. If this Agreement is terminated for any reason, the Customer’s license to use the IP address shall automatically
terminate.

 

		6.5	Customer owns any Developed IP. “Developed IP” means any intellectual property other than Background IP created
or discovered by the Parties in connection with this Agreement, including without limitation any reports Whinstone provides to Customer.
“Background IP” means all intellectual property owned or licensed by a Party before starting services under this Agreement
or independent of services under this Agreement. The Developed IP is a work made for hire for the Customer to the extent permitted by
applicable law, and Customer retains all intellectual property rights in the Developed IP. To the extent that Whinstone or its personnel
own any rights in the Developed IP, Whinstone assigns, or will procure the assignment of, all rights, title, and interest in the Developed
IP to Customer. If applicable law prevents future assignments, Whinstone will assign, or will procure the assignment of, such rights as
these are created. If applicable law prevents Whinstone from transferring ownership of any Developed IP to Customer, Whinstone grants
Customer a perpetual, irrevocable, exclusive, royalty-free, fully-paid, transferable, worldwide license, with the right to sublicense,
to: (1) reproduce, prepare derivative works of, distribute, publicly perform, publicly display, and otherwise use such Developed IP; and
(2) make, use, sell, offer for sale, import, export any component of, and otherwise dispose of such Developed IP. This agreement does
not transfer any rights associated with Background IP, which will remain vested with their owners.

 

		6.6	Whinstone will defend Customer and its affiliates, and indemnify them against liabilities in any third-party legal proceeding to the
extent arising from an unaffiliated third party’s allegation that Customer or its affiliate’s use of the Services or any deliverable
under this Agreement from Whinstone infringes or misappropriates the third party’s Intellectual Property Rights.

 

		7.	CONFIDENTIALITY

 

		7.1	The parties agree that Confidential Information:

 

		7.1.1	shall be used solely for the purpose for which it was furnished in connection with performance of this Agreement;

 

		7.1.2	shall be maintained
                                            in strict confidence and shall not be disclosed to third parties, provided, however, that
                                            Whinstone and the Customer may disclose Confidential Information to their respective affiliates
                                            and sub-contractors and their respective employees who need to have access to such Confidential
                                            Information for the purposes of providing the Services on the condition that Whinstone and
                                            the Customer shall procure compliance by such sub-contractors or affiliates and their respective
                                            employees with the terms of this Clause 7; provided, however, that Whinstone and the Customer
                                            shall be responsible for any breach of the obligations set forth in this Clause 7 by such
                                            subcontractors or affiliates and their respective employees; and

 

		7.1.3	upon termination of this Agreement shall be returned to the disclosing Party, together with all copies, or (at the disclosing Party’s
option) destroyed.

 

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		7.2	Any disclosure of Confidential Information permitted under Clause 7.1.2 shall be in confidence, and only be to the extent that any
persons to whom the information is disclosed need to know the same for the performance of their duties and the receiving Party shall be
obliged to procure that all such persons are aware of the obligation of confidentiality and undertake to comply with it.

 

		7.3	The obligations of confidentiality and restricted use set out in Clauses 7.1 and 7.2 are not applicable to Confidential Information
that:

 

		7.3.1	was previously or becomes known to the receiving Party, free from any obligation to keep the same confidential (provided that Confidential
Information disclosed in contemplation of the provision of the Services shall still remain subject to such obligations);

 

		7.3.2	is or becomes generally available to the public, other than as a direct or indirect result of unauthorized disclosure by the receiving
Party, its affiliates or a person engaged by the receiving Party or its affiliates contrary to their respective obligations of confidentiality;

 

		7.3.3	is shown to have been independently developed by the receiving Party, its officers, employees, agents or contractors;

 

		7.3.4	the Parties agree in writing that it need not be kept confidential; or

 

		7.3.5	is required to be disclosed by law or by regulation or by the order of any governmental authority or court provided that, to the extent
permitted by law, prior to any disclosure, the receiving Party notifies the disclosing Party of the information to be disclosed and the
circumstances in which the disclosure is alleged to be required as early as reasonably possible before such disclosure must be made and,
at the disclosing Party’s request and cost, assists the disclosing Party in avoiding or limiting any such disclosure.

 

		7.4	Without prejudice to any other rights and remedies that the disclosing Party may have, the receiving Party agrees that if Confidential
Information is used or disclosed or threatened to be used or disclosed other than in accordance with the terms of this Agreement, the
disclosing Party shall, without proof of special damage, be entitled to seek an injunction, specific performance or other equitable relief
for any actual or threatened breach of this Clause 7.

 

		7.5	Notwithstanding Clause 7.1, Whinstone will request in writing to the Customer and request the Customer to participate in its advertising
and/or promotional literature and other materials. The Customer has the right to opt out of any and all advertising request.

 

		7.6	In order for Whinstone to provide the Services, the Customer will need to supply certain information or data. Where such information
or data constitutes Personal Data, Whinstone will comply with the Data Protection Laws. The Parties shall duly observe and comply with
all their obligations under the Data Protection Laws in relation to any Personal Data processed in connection with this Agreement and
shall render such assistance and cooperation as is reasonably necessary or reasonably requested by the other Party in respect thereto.

 

		7.7	It shall be the Customer’s responsibility to keep any Personal Data provided to Whinstone up to date and the Customer warrants
and undertakes to Whinstone that all of its Personal Data and contact details are accurate and complete.

 

		7.8	Whinstone may pass the Customer’s Personal Data to Whinstone affiliates and to any third-party suppliers Whinstone may use to
provide services that involve processing data on Whinstone’s behalf for the purpose of providing the Services and as contemplated
by the terms of this Agreement; provided, however, that Whinstone shall be responsible for any breach of the obligations set forth in
this Clause 7 by such affiliates and third party suppliers.

 

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		8.	LIABILITY, REPRESENTATIONS, WARRANTIES, AND INDEMNIFICATIONS

 

		8.1	Both Parties represent and warrant that they have the right and capacity to enter into this Agreement and fully perform their respective
obligations hereunder;

 

		8.2	Whinstone shall perform the Services as described herein and shall provide the Services in a professional manner consistent with industry
standards.

 

		8.3	Whinstone hereby agrees to indemnify and hold harmless the Customer and any of its managers, owners, successors, licensees and assignees,
from any and all losses, costs, liabilities, damages and expenses, including but not limited to, reasonable attorney fees resulting from
any breach of any obligations, representation, warranty and/or covenant under this Agreement. Notwithstanding any provisions herein, Whinstone
agrees to indemnify the Customer for any losses directly or indirectly caused by negligence or intentional or willful misconduct of Whinstone
in its performance of obligations under this Agreement, including but not limited to, faulty operations, bad design, or misuse of the
facilities in the datacenter.

 

		8.4	If electrical supply is suspended for five (5) or more consecutive days, or more than seven (7) days in any twelve (12) month period
due to any cause other than due to Force Majeure event, the Customer is entitled to suspend or terminate this Agreement by giving a written
notice to Whinstone. Written notice will be signed and emailed to Whinstone, and a physical copy will be sent to Whinstone’s registered
address. The timestamp of the email will be considered the date of the receipt of such notice. If the Customer terminates this Agreement
for the aforementioned reason, Whinstone shall pay for the costs to decommission, clean, package onto pallets and for the shipping cost
to transport all Customer’s Customer Equipment to a new location.

 

		8.5	Neither Party excludes or limits its liability to the other Party for:

 

		8.5.1	death or personal injury caused by its negligence;

 

		8.5.2	fraud or fraudulent misrepresentation.

 

		8.6	Subject to Clauses 6, 8.5, 8.7, and claims for outstanding payment, the aggregate liability of each Party to the other in contract,
tort (including negligence), for breach of a statutory duty or otherwise arising under or in connection with this Agreement or its subject
matter shall be limited to a sum equal to the greater of: (i) the aggregate charges payable by the Customer to Whinstone in the [***]
period immediately prior to the date on which the cause of action first arose or, if the Agreement had been in force for less than [***] at that date, the annualized amount of the charges payable by that date; and (ii) USD $[***].

 

		8.7	Subject to Clause 8.5 but notwithstanding anything else in this Agreement, the aggregate liability of:

 

		8.7.1	the Customer to Whinstone for damage to property, in contract, (including negligence) or otherwise arising under or in connection
with this Agreement shall be limited to a sum equal to the aggregate charges payable by the Customer to Whinstone in the twelve-month
period immediately prior to the date on which the cause of action first arose or, if the Agreement has been in force for less than twelve
months on such date, the annualized amount of the charges payable by that date; and

 

		8.7.2	Whinstone to the Customer for damage to property, in contract, tort (including negligence) or otherwise arising under or in connection
with this Agreement shall be limited to a sum equal to the aggregate charges payable by the Customer to Whinstone in the twelve-month
period immediately prior to the date on which the cause of action first arose or, if the Agreement has been in force for less than twelve
months on such date, the annualized amount of the charges payable by that date.

 

		8.8	In no event will Whinstone have any liability for non-provision or delay in the provision of the Services which:

 

		8.8.1	can be reasonably attributed to the acts or omissions of the Customer, its affiliates, employees, workers, sub-contractors, agents
or customers including but not limited to failure to provide complete, accurate information in a timely manner for Whinstone;

 

		8.8.2	arises from or as a consequence of use of the Services other than in accordance with the express terms of this Agreement; and/or

 

		8.8.3	occurs during any period of suspension in accordance with Clause 12, provided, however, that this Clause 8.8 shall not apply in the
case of willful misconduct or negligence by Whinstone, its affiliates, employees, workers, sub-contractors or agents.

 

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		8.9	The Customer acknowledges that Whinstone would not enter into this Agreement at the prices herein without the foregoing limitations
of liability. Each Party acknowledges that the allocation of risk in this Agreement (including the exclusions and limitations set out
in this Clause 8) has been freely negotiated at arm’s length and is regarded by it as reasonable. The Customer acknowledges that
it has had an opportunity to consider adequate insurance cover and to obtain professional advice in relation to this Clause 8.

 

		8.10	Whinstone shall not be liable for any claim arising under this Agreement unless the Customer gives Whinstone written notice of the
claim within twelve months of becoming aware of the circumstances giving rise to the claim.

 

		8.11	Whinstone shall maintain minimum general business liability insurance in the amount of ten million US Dollars per occurrence or replacement
value of the Customer’s Customer Equipment, whichever is lower. This coverage will not include business income interruption coverage.
The Customer is responsible for insuring their equipment and business income interruption insurance.

 

		8.12	Whinstone represents to the Customer that it has secured rights to at least [***] acres of leased land for [***] years for the Data
Center and secured for commercial access up to [***] gigawatt of aggregated electricity that can be delivered to the Data Center, of which
a portion of that may be incrementally offered to the Customer under an Extended Term.

 

		9.	ASSIGNMENT

 

		9.1	This Agreement and all rights and obligations hereunder, in whole or in part, may be assigned or transferred by the Customer without
the prior written consent of Whinstone. The Customer shall provide prompt written notice to Whinstone of any such assignment or transfer.
Following such assignment or transfer, but provided that the Customer has provided written notice thereof to Whinstone, (i) the assignee
or transferee shall assume and be liable to Whinstone for the full and faithful performance of all of the Customer’s obligations
under this Agreement and be considered the “Customer” for all purposes under this Agreement and (ii) Rhodium JV LLC shall
have no further liability to Whinstone..

 

		9.2	Whinstone may, upon receipt
                                            of the Customer’s prior written consent, assign, sub-license or deal in any other manner
                                            with this Agreement or any rights under the Agreement, or subcontract any or all of any or
                                            all of obligations under this Agreement to one or more of its affiliates or to any third
                                            party upon a sale of all or substantially all of its assets and will provide notice to the
                                            Customer of any such assignment, provided, however, that the Customer is provided with the
                                            Services under the same terms and conditions as those of this Agreement until the expiration
                                            of the Initial Term or the relevant Extended Term, as the case may be, of this Agreement.

 

		10.	FORCE MAJEURE

 

		10.1	Neither Party shall in any circumstances be liable to the other for any loss of any kind whatsoever including any damages whether
directly or indirectly caused or incurred by the other Party by reason of any failure or delay in the performance of its obligations hereunder
which is due to Force Majeure.

 

		10.2	If either of the Parties becomes aware of circumstances of Force Majeure which give rise to or which are likely to prevent the performance
of any obligations on its part, it shall as soon as reasonably possible and in any event within five (5) Business Days after commencement
of the Force Majeure serve notice in writing on the other Party specifying the nature and extent of the circumstances giving rise to Force
Majeure.

 

		10.3	If either Party is prevented from performance of substantially all of its obligations by Force Majeure for more than two (2) months
in total, the other Party may terminate this Agreement by giving notice in writing to the other Party at any time, in which case neither
Party shall have any liability to the other except that rights and liabilities which accrued prior to such termination shall continue
to subsist.

 

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		11.	NOTICES

 

		11.1	All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively
given upon the earlier of actual receipt, or (a) personal delivery to the Party to be notified, (b) when sent, if sent by electronic mail
or facsimile during normal business hours of the recipient, and if not sent during normal business hours, then on the recipient’s
next business day, (c) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid,
or (d) one (1) business day after deposit with a nationally recognized overnight courier, freight prepaid, specifying next business day
delivery, with written verification of receipt. All communications shall be sent to the respective Parties at their address as set forth
below, or to such e-mail address, as subsequently modified by written notice given in accordance with this Clause 11 herein:

 

		11.2	The addresses of the parties for the purposes of Clause 11.1 are:

 

		11.2.1	Whinstone US, Inc.

2721 Charles Martin Hall Road

Rockdale, Texas 76567

Marked for the attention of: [***]

Email: [***] 

Attention: [***]

 

		11.2.2	Rhodium JV LLC.

 

[***]

[***], Texas [***]

Marked for the attention of: [***]

Email: [***]

Attention: [***]

 

		11.3	In proving service, it shall be sufficient to prove that the envelope containing such notice was addressed to the address of the relevant
party set out in Clause 11.2 (or as otherwise notified by that party under this Clause) and delivered to that address.

 

		12.	SUSPENSION OF SERVICE

 

		12.1	Whinstone reserves the right to suspend the Services for the following reasons: 12.1.1. to carry out Maintenance with the prior written
consent of the Customer;

 

		12.1.1	to make any modification, change, addition to, or replacement of, the Whinstone Equipment or any part of the IP Connection Service
or the Services where this is required to conform with any applicable safety, statutory or legal requirements, provided that such modification,
change, addition or replacement does not detract from, reduce or impair the overall quality or performance of the Services with prior
written consent of the Customer;

 

		12.1.2	where the Customer fails to pay any undisputed Charges in accordance with Clause 3;

 

		12.1.3	where Whinstone is obliged to comply with an order, instruction or request of Government, court, law enforcement agency or other competent
administrative or regulatory authority, in which case Whinstone shall provide notice to the Customer as soon as possible, and cooperate
with the Customer to mitigate losses or take other appropriate actions;

 

		12.1.4	in an emergency; or

 

		12.1.5	where Whinstone has reason to terminate this Agreement in accordance with its terms.

 

		12.2	Where suspension of the Services is necessary in accordance with the provisions of Clause 12.1.2, Whinstone will carry out such work
as Scheduled Maintenance but in circumstances where this is not possible, Whinstone shall use all reasonable endeavors to perform such
work between the hours of midnight and 6 am and shall restore the Services as soon as reasonably practical in the circumstances.

 

		12.3	If Whinstone exercises its right of suspension under this Clause, this will not exclude its right to terminate this Agreement later
in respect of that or any other event, nor will it prevent Whinstone claiming damages from the Customer in respect of any breach.

 

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		13.	TERMINATION

 

	 	13.1	This Agreement shall commence on the Effective Date and shall continue for a period of One hundred twenty (120) months from the RFU Date (“Initial Term”) unless and until terminated in accordance with this Clause 13.

 

This Agreement shall be automatically extended for a period of 12 months
(“Extended Term”) at the end of the Initial Term and at the end of each Extended Term. The Customer can terminate the
contract at the end of the twelfth month of the Initial Term or any Extended Term with [***] by notifying Whinstone in writing sixty (60)
days prior to the end of the contract. Unless notified in writing of termination by the Customer as mentioned above, the Customer contract
will renew automatically for an additional twelve (12) months under the same conditions.

 

		13.2	Customer Elected Termination. Whinstone understands and agrees that
the Customer shall have the right to elect not to provide a RFU Notice in relation to this Agreement. If no RFU Notice is provided to
Whinstone prior to June 1, 2028, this Agreement shall be considered terminated with immediate effect and any rights or obligations of
either Party under this Agreement shall be null and void.

 

		13.3	Termination for Cause. Either party (the “Non-Defaulting Party”) may terminate this Agreement (without prejudice
to its other rights and remedies) with immediate effect by written notice to the other party (the “Defaulting Party”)
if:

 

		13.3.1	the Defaulting Party commits a material breach of any of its material
obligations under this Agreement (including failing to pay any sums payable under this Agreement by the due date) and if the breach is
capable of remedy, fails to remedy it during the period of [***] starting on the date of receipt of notice from the Non- Defaulting Party
specifying the breach and requiring it to be remedied; or

 

		13.3.2	the Defaulting Party becomes insolvent including being unable to pay
its debts as they fall due and/or that the value of its assets is less than the amount of its liabilities, taking into account its contingent
and prospective liabilities, proposes an individual, company or partnership voluntary arrangement, has a receiver, administrator or manager
appointed over the whole or any part of its business or assets; if any petition shall be presented, order shall be made or resolution
passed for its winding up (except for the purpose of a bona fide amalgamation or reconstruction), bankruptcy or dissolution (including
the appointment of provisional liquidators/interim receivers or special managers); if it shall otherwise propose or enter into any composition
or arrangement with its creditors or any class of them; if it ceases or threatens to cease to carry on business or if it claims the benefit
of any statutory moratorium; or

 

		13.3.3	the Defaulting Party suffers, or there occurs in relation to that party,
any event which is analogous to any of the events referred to in Clause 13.2.2 in any part of the world.

 

		13.3.4	In the case that the Customer terminates this Agreement due to Whinstone’s failure to cure a default, or the matters specified
in Clause 13.3 or 13.4, Whinstone will pay for the costs to decommission, clean, package onto pallets and ship the Customer equipment
to a new location. Whinstone will also pay Customer’s lost revenue from mining resulting from such termination converted to US dollars,
which shall be calculated based on the average market price of the mined digital asset and mining difficulty levels for a period of [***]
from the date of the termination.

 

		13.4	It is in the best interest of both Parties to pursue all reasonable efforts to remedy any issues with the Services or Service Level
Agreement without termination or penalties. [***].

 

		13.5	If Whinstone fails to install all of the Customer Equipment within [***] of the RFU Date, the Customer shall be entitled to [***].

 

		13.6	Either Party may terminate this Agreement with immediate effect by written notice and without further obligation or liability to the
Customer if required by any law enforcement or other government or regulatory organization or authority or by the courts.

 

		13.7	All rights and obligations of the Parties shall cease to have effect immediately upon termination of this Agreement, except that termination
shall not affect:

 

		13.7.1	[***]; and

 

		13.7.2	the continued survival and validity of the rights and obligations of the Parties under Clauses [***] and any other provisions of this
Agreement necessary for the interpretation or enforcement of this Agreement.

 

		13.8	For the avoidance of doubt, save where otherwise agreed in writing between the Parties, termination of any Services at a site does
not constitute termination of this Agreement, and, where this Agreement has been terminated in accordance with its terms, all Services
will automatically terminate upon such termination.

 

		13.9	Upon termination of this Agreement, the Customer shall at its own cost and expense return to Whinstone all IP addresses provided to
it by Whinstone.

 

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		14.	ANTI-BRIBERY AND CORRUPTION

 

Each Party warrants and represents that it has not and will
not carry out any act that could be an offense under anti-bribery laws.

 

		15.	APPLICABLE LAW

 

This Agreement shall be governed by Texas Law and the parties
hereby submit to the exclusive jurisdiction of the Texas courts.

 

		16.	GENERAL

 

		16.1	No failure or delay of either Party in exercising its rights hereunder (including the right to require performance of any provision
of this Agreement) shall be deemed to be a waiver or release of such rights. Any waiver or release must be specifically granted in writing
signed by the Party waiving its rights and shall:

 

		16.1.1	be confined to the specific circumstances in which it is given;

 

		16.1.2	not affect any other enforcement of the same or any other right; and

 

		16.1.3	unless it is expressed to be irrevocable, be revocable at any time in writing.

 

Any single or partial exercise of any right, power or remedy
provided by law or under this Agreement shall not preclude any other or further exercise of it or the exercise of any other right, power
or remedy.

 

		16.2	If at any time any provision of this Agreement is or becomes illegal, invalid or unenforceable in any respect under the law of any
jurisdiction, that shall not affect or impair:

 

		16.2.1	the legality, validity, or enforceability in that jurisdiction of any other provision of this Agreement; or

 

		16.2.2	the legality, validity, or enforceability under the law of any other jurisdiction of that or any other provision of this Agreement.

 

		16.3	All work performed by Whinstone under this Agreement shall be performed as an independent contractor and not as an agent of the Customer
and neither Party shall be, nor represent itself to be, the employee, agent, representative, partner or joint venture of the other. Neither
Party shall have the right or authority to assume or create an obligation on behalf of or in the name of the other or to otherwise act
on behalf of the other. The performing Party shall be responsible for its employees’ compliance with all applicable laws, rules,
and regulations while performing work under this Agreement.

 

		16.4	No modification, amendment or other change may be made to this Agreement or any part thereof unless reduced to writing and executed
by authorized representatives of Whinstone and the Customer. Unless expressly so agreed, no modification or variation of this Agreement
shall constitute or be construed as a general waiver of any provisions of this Agreement, nor shall it affect any rights, obligations
or liabilities under this Agreement which have already accrued up to the date of such modification or waiver, and the rights and obligations
of the Parties under this Agreement shall remain in full force and effect, except and only to the extent that they are so modified or
varied.

 

		17.	ENTIRE AGREEMENT

 

		17.1	This Agreement constitutes the entire understanding between the Parties concerning the subject matter of the Agreement and supersedes
any previous agreement or understanding between the Parties in relation to the subject matter.

 

		17.2	With effect from the date of this Agreement all Services shall be provided solely in accordance with the terms of this Agreement and
all prior agreements and understandings between the Parties in relation to the same shall be deemed terminated from the date hereof. Save
in respect of rights and liabilities arising prior to such date, all such prior agreements and understandings shall cease to be of effect
from the date of signature of this Agreement. In no event shall the pre-printed terms and conditions found on any Customer purchase order,
acknowledgement, or other form be considered an amendment or modification of this Agreement, even if such documents are signed by representatives
of both Parties; such pre- printed terms and conditions shall be null and void and of no force and effect.

 

    17

     

    

 

		17.3	Each Party acknowledges and agrees that in entering into the Agreement or in amending any part of this Agreement, it has not relied
on any statement, representation, warranty, understanding, undertaking, promise or assurance (whether negligently or innocently made)
of any person (whether party to this Agreement or not) other than as expressly set out in the Agreement. Each Party irrevocably and unconditionally
waives all claims, rights and remedies which but for this clause it might otherwise have had in relation to any of the foregoing.

 

		17.4	Nothing in Clauses 17.1 to 17.3 (inclusive) shall limit or exclude any liability for fraud.

 

		18.	COUNTERPARTS

 

		18.1	This Agreement shall be executed in two originals, each Party shall retain one original respectively This Agreement shall not be effective
until each of the Parties has executed at least one counterpart.

 

		18.2	Each counterpart shall constitute an original, but all the counterparts shall together constitute one and the same instrument.

 

		19.	THIRD PARTIES

 

It is agreed that this Agreement is not intended to and does
not give to any other person who is not a party to this Agreement any rights to enforce directly any provisions contained in this Agreement
except for any person to whom the benefit of this Agreement is assigned or transferred in accordance with Clause 9.

 

		20.	FURTHER ASSURANCE

 

Each Party shall, if requested by the other Party and at
the other Party’s cost, execute or cause to be executed all documents and do or cause to be done all further acts and things as
may be necessary in order to vest in and secure to the other Party and its successors in title the full benefit of the assets, rights
and benefits to be transferred or granted to the other Party under this Agreement and for the protection and enforcement of the same and
otherwise to give effect to this Agreement and to the rights and obligations contained within this Agreement.

 

The Agreement shall come into force from the seal or signature date
by both Parties. This Agreement is made out in two original copies, one copy to be held by each Party in witness thereof.

 

	 	CUSTOMER:
	 	 
	 	On behalf of Rhodium JV LLC,
	 	By: 
	 	Its:  
	 	 
	 	x	           
	 	By: 
	 	Its: 
	 	Date: 
	 	 
	 	WHINSTONE:
	 	 
	 	On behalf of Whinstone US, Inc.
	 	 
	 	x	 
	 	Name: 
	 	Title: 
	 	Date 

 

    18

     

    

 

EXHIBIT 1

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