Document:

Exhibit 10.5

  

   

  Arrowroot
        Acquisition Corp.

  4553
        Glencoe Ave, Suite 200

  Marina
        Del Rey, CA 90292

   

  March
      4, 2021

   

  Arrowroot
      Acquisition LLC

      4553 Glencoe Ave, Suite 200

      Marina Del Rey, CA 90292

   

  	 	Re:	Administrative Support Agreement

   

  Ladies
      and Gentlemen:

   

  This
      letter agreement by and between Arrowroot Acquisition Corp. (the “Company”) and Arrowroot Acquisition, LLC (“Sponsor”),
      dated as of the date hereof, will confirm our agreement that, commencing on the date the securities of the Company are first listed
      on The Nasdaq Capital Market (the “Listing Date”), pursuant to a Registration Statement on Form S-1 and prospectus
      filed with the U.S. Securities and Exchange Commission (the “Registration Statement”) and continuing until the earlier
      of the consummation by the Company of an initial business combination or the Company’s liquidation (in each case as described
      in the Registration Statement) (such earlier date hereinafter referred to as the “Termination Date”):

   

  (i)
      Sponsor shall make available, or cause to be made available, to the Company, at 4553 Glencoe Ave, Suite 200, Marina Del Rey, CA
      90292 (or any successor location of Sponsor), certain office space and secretarial and administrative services as may be reasonably
      required by the Company. In exchange therefor, the Company shall pay Sponsor the sum of $20,000 per month on the Listing Date
      and continuing monthly thereafter until the Termination Date; and

   

  (ii)
      Sponsor hereby irrevocably waives any and all right, title, interest, causes of action and claims of any kind as a result of,
      or arising out of, this letter agreement (each, a “Claim”) in or to, and any and all right to seek payment of any
      amounts due to it out of, the trust account established for the benefit of the public stockholders of the Company and into which
      substantially all of the proceeds of the Company’s initial public offering will be deposited (the “Trust Account”)
      as a result of, or arising out of, this letter agreement, and hereby irrevocably waives any Claim it may have in the future, which
      Claim would reduce, encumber or otherwise adversely affect the Trust Account or any monies or other assets in the Trust Account,
      and further agrees not to seek recourse, reimbursement, payment or satisfaction of any Claim against the Trust Account or any
      monies or other assets in the Trust Account for any reason whatsoever.

   

  This
      letter agreement constitutes the entire agreement and understanding of the parties hereto in respect of its subject matter and
      supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent
      they relate in any way to the subject matter hereof or the transactions contemplated hereby.

   

  This
      letter agreement may not be amended, modified or waived as to any particular provision, except by a written instrument executed
      by the parties hereto.

   

  No
      party hereto may assign either this letter agreement or any of its rights, interests, or obligations hereunder without the prior
      written approval of the other party. Any purported assignment in violation of this paragraph shall be void and ineffectual and
      shall not operate to transfer or assign any interest or title to the purported assignee.

   

  This
      letter agreement constitutes the entire relationship of the parties hereto, and any litigation between the parties (whether grounded
      in contract, tort, statute, law or equity) shall be governed by, construed in accordance with, and interpreted pursuant to the
      laws of the State of New York, without giving effect to its choice of law principles.

   

   

  
     

    
      

    

  

   

   

  [Signature
        page follows]

   

   

  
     

    
      

    

  

   

  	 	Very truly yours,
	 	 
	 	ARROWROOT ACQUISITION CORP.
	 	 	 
	 	By:	 /s/ Matthew Safaii
	 	 	Name:  	Matthew Safaii
	 	 	Title:	Chief Executive Officer

  AGREED
      TO AND ACCEPTED BY:

   

  ARROWROOT
      ACQUISITION, LLC

   

  	By:	 /s/ Matthew Safaii	 
	 	Name: Matthew Safaii	 
	 	Title:   Principal	 

   

  [Signature
        Page to Administrative Services Agreement]Exhibit 10.6

      

      

      Execution Version

      

      

      

      

      INDEMNITY AGREEMENT

      

      

      THIS INDEMNITY AGREEMENT (this “Agreement”) is made as of March 4, 2021, by and between ARROWROOT ACQUISITION CORP., a Delaware corporation (the “Company”), and Matthew Safaii, Thomas Olivier, Gaurav Dhillon, Dixon Doll and Will Semple (each, an “Indemnitee”).

      

      

      RECITALS

      

      

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

      

      

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

      

      

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

      

      

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

      

      

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

      

      

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

      

      

      
        
          

      

      

      

       

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

      

      

      NOW, THEREFORE, in consideration
        of the premises and the covenants contained herein and subject to the provisions of the letter agreement dated as of March 4, 2021 among the Company, Indemnitee and the other parties thereto pursuant to the Underwriting Agreement between the
        Company and the representatives of the underwriters named therein in connection with the Company’s initial public offering, the Company and Indemnitee do hereby covenant and agree as follows:

      

      

      TERMS AND CONDITIONS

      

      

      1. SERVICES TO THE COMPANY. In consideration of the Company’s covenants and obligations hereunder, Indemnitee will serve or continue to serve as an officer, director, advisor, key employee or in
        any other capacity of the Company, as applicable, for so long as Indemnitee is duly elected, appointed or retained or until Indemnitee tenders his or her resignation or until Indemnitee is removed.

      

      

      2. DEFINITIONS. As used in this Agreement:

      

      

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

      

      

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

      

      

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

      

      

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

      

      

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

      

      

      
        
          

      

      

      

       

      2.3.3. Corporate Transactions. The
        effective date of a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination, involving the Company and one or more businesses (a “Business Combination”), in each case, unless, following such Business Combination: (1) all or substantially all of the individuals and entities who were the Beneficial Owners of
        securities entitled to vote generally in the election of directors immediately prior to such Business Combination beneficially own, directly or indirectly, more than 51% of the combined voting power of the then outstanding securities of the Company
        entitled to vote generally in the election of directors resulting from such Business Combination (including, without limitation, a corporation which as a result of such transaction owns the Company or all or substantially all of the Company’s
        assets either directly or through one or more Subsidiaries (as defined below)) in substantially the same proportions as their ownership immediately prior to such Business Combination, of the securities entitled to vote generally in the election of
        directors; (2) other than an affiliate of the Sponsor, no Person (excluding any corporation resulting from such Business Combination) is the Beneficial Owner, directly or indirectly, of fifteen percent (15%) or more of the combined voting power of
        the then outstanding securities entitled to vote generally in the election of directors of the surviving corporation except to the extent that such ownership existed prior to the Business Combination; and (3) at least a majority of the Board of
        Directors of the corporation resulting from such Business Combination were Continuing Directors at the time of the execution of the initial agreement, or of the action of the Board of Directors, providing for such Business Combination;

      

      

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

      

      

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

      

      

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

      

      

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

      

      

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

      

      

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

      

      

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

      

      

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

      

      

      
        
          

      

      

      

       

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

      

      

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

      

      

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

      

      

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

      

      

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

      

      

      3. INDEMNITY IN THIRD-PARTY PROCEEDINGS.

      

      

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

      

      

      
        
          

      

      

      

       

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

      

      

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

      

      

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

      

      

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

      

      

      6. INDEMNIFICATION FOR EXPENSES OF A WITNESS.

      

      

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

      

      

      7. ADDITIONAL INDEMNIFICATION, HOLD HARMLESS AND EXONERATION RIGHTS.

      

      

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

      

      

      
        
          

      

      

      

       

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

      

      

      8. CONTRIBUTION IN THE EVENT OF JOINT LIABILITY.

      

      

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

      

      

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

      

      

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

      

      

      9. EXCLUSIONS.

      

      

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

      

      

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

      

      

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

      

      

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

      

      

      
        
          

      

      

      

       

      10. ADVANCES OF EXPENSES; DEFENSE OF CLAIM.

      

      

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

      

      

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

      

      

      6

      

      

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

      

      

      11. PROCEDURE FOR NOTIFICATION AND APPLICATION FOR INDEMNIFICATION.

      

      

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

      

      

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

      

      

      12. PROCEDURE UPON APPLICATION FOR INDEMNIFICATION.

      

      

      12.1. A determination, if required by applicable law, with respect to Indemnitee’s entitlement to indemnification shall be made in the
        specific case by one of the following methods, which shall be at the election of Indemnitee: (i) by a majority vote of the Disinterested Directors, even if less than a quorum of the Board (ii) by Independent Counsel in a written opinion to the
        Board, a copy of which shall be delivered to Indemnitee; or (iii) by vote of the stockholders. The Company promptly will advise Indemnitee in writing with respect to any determination that Indemnitee is or is not entitled to indemnification,
        including a description of any reason or basis for which indemnification has been denied. If it is so determined that Indemnitee is entitled to indemnification, payment to Indemnitee shall be made within ten (10) days after such determination.
        Indemnitee shall reasonably cooperate with the person, persons or entity making such determination with respect to Indemnitee’s entitlement to indemnification, including providing to such person, persons or entity upon reasonable advance request
        any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary to such determination. Any costs or Expenses (including attorneys’ fees and
        disbursements) incurred by Indemnitee in so cooperating with the person, persons or entity making such determination shall be borne by the Company (irrespective of the determination as to Indemnitee’s entitlement to indemnification) and the Company
        hereby agrees to indemnify and to hold Indemnitee harmless therefrom.

      

      

      
        
          

      

      

      

       

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

      

      

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

      

      

      13. PRESUMPTIONS AND EFFECT OF CERTAIN PROCEEDINGS.

      

      

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

      

      

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

      

      

      
        
          

      

      

      

       

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

      

      

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

      

      

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

      

      

      14. REMEDIES OF INDEMNITEE.

      

      

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

      

      

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

      

      

      
        
          

      

      

      

       

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

      

      

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

      

      

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

      

      

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

      

      

      15. SECURITY.

      

      

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

      

      

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

      

      

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

      

      

      
        
          

      

      

      

       

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

      

      

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

      

      

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

      

      

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

      

      

      17. DURATION OF AGREEMENT.

      

      

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

      

      

      
        
          

      

      

      

       

      18. SEVERABILITY.

      

      

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

      

      

      19. ENFORCEMENT AND BINDING EFFECT.

      

      

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

      

      

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

      

      

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

      

      

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

      

      

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

      

      

      
        
          

      

      

      

       

      20. MODIFICATION AND WAIVER.

      

      

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

      

      

      21. NOTICES.

      

      

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

      

      

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

      

      

      (b) If to the Company, to:

      

      

      Arrowroot Acquisition Corp.

      4553 Glencoe Ave

      Suite 200

      Marina Del Rey, California 90293 Attn: Matthew Safaii

      

      

      With a copy, which shall not constitute notice, to:

      

      

      Cooley LLP

      500 Boylston Street

      14th Floor

      Boston, MA 02116

      Attn: Miguel Vega, Esq.

      

      

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

      

      

      22. APPLICABLE LAW AND CONSENT TO JURISDICTION.

      

      

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

      

      

      23. IDENTICAL COUNTERPARTS.

      

      

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

      

      

      
        
          

      

      

      

       

      24. MISCELLANEOUS.

      

      

      The headings of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect
        the construction thereof.

      

      

      25. PERIOD OF LIMITATIONS.

      

      

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

      

      

      26. ADDITIONAL ACTS.

      

      

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

      

      

      27. WAIVER OF CLAIMS TO TRUST ACCOUNT.

      

      

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

      

      

      [SIGNATURE PAGE FOLLOWS]

      

      

      
        
          

      

      

      

       

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

      

      

      	 	
              ARROWROOT ACQUISITION CORP.

            
	 	 	 	 
	 	
              By:

            	
               /s/ Matthew Safaii

            
	 	 	
              Name:

            	
              Matthew Safaii

            
	 	 	
              Title:

            	
              Chief Executive Officer

            
	 	 	 	 
	 	
              INDEMNITEE:

            
	 	 	 	 
	 	
              By:

            	
               /s/ Matthew Safaii

            
	 	 	
              Name:

            	
              Matthew Safaii

            
	 	 	
              Title:

            	
              Chief Executive Officer and Chairman

            
	 	 	 	 
	 	
              INDEMNITEE:

            
	 	 	 	 
	 	
              By:

            	
               /s/ Thomas Olivier

            
	 	 	
              Name:

            	
              Thomas Olivier

            
	 	 	
              Title:

            	
              Chief Financial Officer, President and Director

            
	 	 	 	 
	 	
              INDEMNITEE:

            
	 	 	 	 
	 	
              By:

            	
               /s/ Gaurav Dhillon

            
	 	 	
              Name:

            	
              Gaurav Dhillon

            
	 	 	
              Title:

            	
              Director

            
	 	 	 	 
	 	
              INDEMNITEE:

            
	 	 	 	 
	 	
              By:

            	
               /s/ Dixon Doll

            
	 	 	
              Name:

            	
              Dixon Doll

            
	 	 	
              Title:

            	
              Director

            
	 	 	 	 
	 	
              INDEMNITEE:

            
	 	 	 	 
	 	
              By:

            	
               /s/ Will Semple

            
	 	 	
              Name:

            	
              Will Semple

            
	 	 	
              Title:

            	
              Director

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