Document:

EX-10.20

 Exhibit 10.20 

Certain identified information has been excluded from this exhibit because it is both not material and is the type that the registrant treats as private or
confidential. Information that was omitted has been noted in this document with a placeholder identified by the mark “[***]”. 

Development Agreement 
 This Development
Agreement (“Agreement”) is entered into effective as of August 27, 2021 (the “Effective Date”), by and between Semiconductor Components Industries, LLC, a Delaware limited liability company with offices located at
5005 E. McDowell Road, Phoenix, Arizona, 85008 (dba “ON Semiconductor”), and Starry, Inc., a Delaware corporation with offices located at 38 Chauncy Street, Suite 200, Boston, Massachusetts, United States, 02111
(“Starry”). Each of ON Semiconductor and Starry may be referred to in this Agreement as a “Party” and together as the “Parties”. 

RECITALS 
 WHEREAS, Starry and ON
Semiconductor would like to collaborate on the development of the Developed Software, as more fully described in this Agreement. 
 NOW THEREFORE, in
consideration of the mutual covenants herein, the Parties agree as follows: 
 ARTICLE 1. DEFINITIONS 

When used in this Agreement, the following capitalized terms shall have the meanings set forth below: 

 

	1.1	 “Affiliate” means with respect to any person or entity, any other person or entity which, directly or
indirectly, controls, is controlled by, or is under common control with such person or entity, including, without limitation, any general or limited partner or member of such person or entity. For the purpose of this definition, “control”
shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a person or entity, whether through the ownership of voting shares, by contract, or otherwise. 

 

	1.2	 “Background Intellectual Property” means any and all Intellectual Property Rights (as defined herein)
that (i) at the Effective Date is owned or controlled by a Party and/or any of its Affiliates; (ii) is obtained after the Effective Date by a Party and/or its Affiliates independent of this Agreement and outside the performance of the
activities described herein; or (iii) created by a Party and/or its Affiliates independent of this Agreement and outside the performance of the activities described herein. 

 

	1.3	 “Confidential Information” has the meaning provided in the NDA (as defined herein).

  

	1.4	 “Developed Software” means the software, source code, developments, documentation, and other
materials developed by ON Semiconductor pursuant to the terms hereof to integrate ON Semiconductor’s Existing Software with Starry’s fixed wireless access system, and any and all Intellectual Property Rights and legal rights therein.

  
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	1.5	 “Existing Software” means any and all software comprising Background Intellectual Property of ON
Semiconductor. 

  

	1.6	 “Foreground Intellectual Property” means any and all Intellectual Property Rights (as defined herein)
that are conceived, reduced to practice, or developed by the Parties, jointly or solely, within the scope of and during the term of this Agreement. Foreground Intellectual Property does not include either Party’s Background Intellectual
Property. 

  

	1.7	 “Intellectual Property Rights” or “IP” means any and all intellectual property rights
worldwide arising under statutory or common law or by contract and whether or not perfected, now existing or hereafter created, filed, issued, or acquired, including without limitation (a) all present and future patents and patent applications
and all reissues, re-examinations, divisions, renewals, extensions, continuations and continuations-in-part thereof;
(b) inventions, invention disclosures, improvements, trade secrets, manufacturing processes, test and qualification processes, technical designs, compositions, formulae, models, schematics, proprietary information, know-how, technology, technical data and mask works, and all documentation relating to any of the foregoing; (c) registered and unregistered copyrights (without limitation copyright on designs, software, both
source and object code, mask works, and all derivative works thereof), copyright registrations and applications therefore; (d) industrial designs and any registrations and applications therefore; and (e) any other form of intellectual
property protection afforded by law which otherwise arises or is enforceable under the laws of any jurisdiction or any bi-lateral or multi-lateral treaty regime, but
excluding all trademarks, trade names, or other forms of corporate or product identification. 

  

	1.8	 “Milestone” means the key development activities required for the delivery of the deliverables,
including test reports from ON Semiconductor, and the acceptance of such deliverables by Starry, as described in Article 2.3 and the SOW. 

  

	1.9	 “NDA” means the Confidentiality and Non-Disclosure Agreement
signed between the Parties with an effective date of March 31, 2020. 

  

	1.10	 “NRE” means the non-recurring
non-refundable expenses paid by Starry pursuant to this Agreement, as described in Article 2.3. 

  

	1.11	 “ON Semiconductor Products” means the ON Semiconductor Wi-Fi
chipsets QCS-AX, QCS-AX2 and other ON Semiconductor products. 

  

	1.12	 “Starry Products” means any product, service or other offering made available, designed,
manufactured, marketed or offered by, or on behalf of, Starry and its Affiliates. 

  

	1.13	 “Statement of Work” or “SOW” means the Statement of Work attached hereto as Exhibit
A and ancillary document(s) accepted and signed by both Parties and used to define the scope of work for each milestone to integrate ON Semiconductor’s Existing Software with Starry’s fixed wireless access system, which may include,
for example, start date, reference documents, specifications, scope, key personnel, sub-milestones, deliverables, acceptance testing, etc. Any Statement of Work may be revised and supplemented from time to
time during the course of this Agreement upon the mutual written consent of the Parties. 

  
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 ARTICLE 2. NATURE AND SCOPE OF THE DEVELOPMENT 

 

	2.1	 General Terms and Conditions. This Agreement shall apply to all collaboration efforts related to
development and integration of ON Semiconductor’s Existing Software with Starry’s fixed wireless access system. 

  

	2.2	 Responsibilities of the Parties. The Parties will use commercially reasonable efforts to integrate ON
Semiconductor’s Existing Software with Starry’s fixed wireless access system as described in this Agreement and in the SOW(s). The respective responsibilities of the Parties are set forth in this Agreement and the SOW. Additional
milestones, schedules, testing, and other criteria that may be agreed to by the Parties shall be set forth in an SOW and mutually agreed to in writing at least thirty (30) days prior to the start date for each Milestone (as defined in the SOW),
which may be updated from time to time by the mutual written consent of the Parties. 

  

	2.3	 Milestone Deliverables. ON Semiconductor will use commercially reasonable efforts to complete assigned
Milestones according to the following timetable and as may be further detailed in each SOW: 

  

							
	 Milestone
	  	 Description of Deliverable
	  	Associated
NRE (USD)	  	 Committed
Delivery Date

	Milestone 0	  	Development Agreement signed & project kick-off	  	[***]	  	T0(1)
				
	Milestone 1	  	[***]	  	[***]	  	T0 + [***] months
				
	Milestone 2	  	[***]	  	[***]	  	T0 + [***] months
				
	Milestone 3	  	[***]	  	[***]	  	T0 + [***] months
				
	Milestone 4	  	[***]	  	[***]	  	T0 + [***] months
				
	Milestone 5	  	[***]	  	[***]	  	T0 + [***] months
				
	Milestone 6	  	[***]	  	[***]	  	T0 + [***] months
				
	Total	  		  	[***]	  	

  

	(1)	 T0 is the Effective Date. 

	(2)	 [***]. 

	(3)	 [***]. 

  

	2.4	 Acceptance. The specifications, goals, performance measures, testing results and/or other criteria
against which a Milestone deliverable will be evaluated for purposes of acceptance 

  
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or non-acceptance by Starry are set forth in the SOW (the “Acceptance Criteria”). All acceptance testing shall be carried out by Starry within
thirty (30) days of actual receipt by Starry of the Milestone deliverable. With respect to each Milestone deliverable, Starry shall: (i) notify ON Semiconductor’s designated project manager of acceptance of such Milestone deliverable
in writing (which for the avoidance of doubt may be by email) no later than thirty (30) days after actual receipt by Starry of the Milestone deliverable; or (ii) in the event such Milestone deliverable fails the applicable Acceptance
Criteria, notify ON Semiconductor’s designated project manager of rejection of such Milestone deliverable in writing (which for the avoidance of doubt may be by email) no later than thirty (30) days of actual receipt by Starry of such
Milestone deliverable with reasonable detail to enable ON Semiconductor to recreate the issue which has caused the failure of the acceptance tests. If Starry fails to notify ON Semiconductor as described in clause (i) or (ii) of the preceding
sentence within thirty (30) days of receipt of a Milestone deliverable, then such Milestone deliverable will be deemed to have met the applicable Acceptance Criteria and been accepted by Starry. In the event Starry notifies ON Semiconductor
that a Milestone deliverable has failed the applicable Acceptance Criteria, ON Semiconductor will as soon as reasonably practicable re-test such Milestone deliverable and, if it agrees such deliverable has
failed the applicable Acceptance Criteria, it shall use commercially reasonable efforts to make appropriate modifications to such Milestone deliverable in order to satisfy the Acceptance Criteria. Upon redelivery of any Milestone deliverable that
has previously failed the applicable Acceptance Criteria, the procedures described above in this Article 2.5 will apply to Starry’s acceptance or rejection of such deliverable. In the event ON Semiconductor does not agree that a Milestone
deliverable has failed the applicable Acceptance Criteria, the Parties will work in good faith to resolve the issue and determine if the Milestone deliverable satisfies the applicable Acceptance Criteria, and at such time that the Parties mutually
agree such Milestone deliverable satisfies the applicable Acceptance Criteria, Starry will be deemed to have accepted such deliverable. 

  

	2.5	 Representatives. Starry and ON Semiconductor shall each assign appropriate person(s) to oversee and
manage its obligations and collaborative efforts under this Agreement. Each Party shall assign a designated project manager at the beginning of the project. The Parties’ respective designated project managers shall jointly establish a
communication system including the ability to track progress, track changes, and provide timely and regular status reports in a secure and open manner. 

  

	2.6	 Changes. In the event of unforeseen delays not caused by a breach of either Party’s obligations
hereunder, the Parties will mutually agree on new committed delivery completion dates of each Milestone and communicate such new committed delivery dates to their respective teams as soon as possible. In addition, either Party may from time-to-time request changes to a Milestone deliverable, a committed delivery completion date of a Milestone, and/or other changes to a SOW. Such changes shall be implemented
only upon the mutual written agreement of both Parties. Any change request agreed to by both Parties shall be treated as an Agreement modification and the relevant section(s) of this Agreement or any SOW shall if necessary be adjusted to take
account thereof. No changes will be implemented by ON Semiconductor except and until such changes and the consequences thereof have been agreed upon in writing and accepted by the Parties. 

  
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	2.7	 Payment for Changes. In the event the Parties mutually agree on any change to a Milestone deliverable, a
committed delivery completion date of a Milestone, and/or other changes to a SOW that will result in additional development work by ON Semiconductor, the Parties will mutually agree to an appropriate change to the related NRE associated with any
affected Milestone deliverables as set forth in Article 2.3 and to the related payment schedule. 

 ARTICLE 3. INTELLECTUAL PROPERTY

  

	3.1	 Ownership of Intellectual Property. All Background Intellectual Property that is owned by or is
controlled by a Party shall remain with such Party, and nothing in this Agreement will be construed as transferring any right, title, or interest in any Party’s Background Intellectual Property to the other Party. Any Foreground Intellectual
Property that is solely developed by one Party without contribution by the other Party shall be owned solely by the Party that developed such Foreground Intellectual Property. All of the Intellectual Property Rights with respect to the ON
Semiconductor Wi-Fi chipsets and/or any and all derivatives and/or versions thereof belong to ON Semiconductor and nothing in this Agreement transfers, or grants, any rights, licenses or interests in respect
of those Intellectual Property Rights, except to the extent such Intellectual Property Rights constitute Foreground Intellectual Property, Developed Software and/or are subject to Article 4.13. None of ON Semiconductor’s activities under, or in
connection with, this Agreement will be considered as “work made for hire” and Starry will never assert any claim contrary to that principle. 

  

	3.2	 Assignment of Interests. All employees or others acting on behalf of a Party in performance of its
obligations under this Agreement shall be obligated under a binding written agreement to assign to such Party any and all Intellectual Property Rights made or conceived by such employee or other person acting on its behalf. 

 

	3.3	 No Reverse Engineering. Each Party agrees that it shall not copy, translate, modify, create derivative
works, reverse engineer, decompile, encumber, or otherwise use any technology, software, or Confidential Information of the other Party except as specifically authorized under this Agreement. Each Party shall extend the restrictions specified herein
to any third party to whom such Party plans to disclose any software, technology, or Confidential Information of the other Party as may be expressly authorized under this Agreement or the NDA. 

 

	3.4	 Trademarks. Any use by a Party of the other Party’s trademarks must be preapproved by the other
Party in writing and conform to any trademark guidelines provided by the other Party. 

  
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 ARTICLE 4. LICENSES 
  

	4.1	 License Grant of Developed Software and Foreground Intellectual Property to Starry. Subject to the
payment of each NRE required to be paid in accordance with the terms hereof, ON Semiconductor and its Affiliates hereby grant Starry a limited, worldwide, perpetual, irrevocable, fully paid-up, royalty-free, non-exclusive, non-transferable (except as provided in Article 9.4), and non-sublicensable license under ON Semiconductor’s and its Affiliates’
Intellectual Property Rights to use, have made, test, have tested, assemble, have assembled, import, any Foreground Intellectual Property and Developed Software, including distribution and/or hosting only in a format which is executable by a machine
and not human readable, to Starry’s third party customers and/or partners (“Customer(s)”) for use by such Customers strictly and solely for the purpose of enabling such Starry Products to interoperate or interface with ON
Semiconductor Products, in the ordinary course of Starry’s business for use only in connection with the ON Semiconductor Products, subject to Article 4.5. 

 

	4.2	 No License to Background Intellectual Property. Except as expressly provided herein, no license or right
of any kind is granted herein by ON Semiconductor (or its licensors/suppliers) to Starry to disclose, distribute, or otherwise provide the Developed Software or Modifications (defined below) in source code format (i.e., customarily read and edited
by humans to any third party). 

  

	4.3	 No Open Source. Starry agrees that it shall not take any actions whatsoever that could or would cause
Developed Software or Modifications or any portion thereof to become subject to any open source license requiring the distribution of the Developed Software or Existing Software or any part thereof in any format. Starry shall have no obligation to
provide Modifications to ON Semiconductor. During the Term of this Agreement, ON Semiconductor and its Affiliates agree that they shall not take any actions whatsoever that could or would cause Modifications received from Starry to become subject to
any open source license requiring the distribution of the Modifications or any part thereof in any format. On an ongoing basis during the Term of this Agreement, ON Semiconductor shall (a) [***]; and (b) [***]. “Third Party Software” means
software (including object code, binary code, source code, firmware, microcode, libraries, application programing interfaces, data, routines, subroutines, or other code, including commercial, open-source, and
freeware) and any documentation or other material related to such software, and any derivative of any of the foregoing, that is (i) not solely owned by ON Semiconductor and (ii) incorporated in, distributed with, accessed by, or required,
necessary or depended upon for the use, offering, support, or commercialization of, any Developed Software. 

  

	4.4	 Modifications. In the event Starry makes modifications to the Developed Software or Foreground
Intellectual Property solely developed by Starry (“Modifications”), Starry shall grant, and hereby does grant, to ON Semiconductor a limited, worldwide, perpetual, irrevocable, fully paid-up, royalty-free, non-exclusive, transferable, and sublicensable license under Starry’s Intellectual Property Rights to: (i) use, reproduce, display, license,
sublicense, and distribute the Modifications; and (ii) create, use, reproduce, display, license, sublicense, and distribute derivative works of the Modifications. For avoidance of doubt, nothing in this Article 4.4 grants any ownership interest
in any Confidential Information of Starry, and ON Semiconductor shall not use or distribute any Modifications outside of this Agreement without Starry’s prior written consent. 

  
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	4.5	 Use Limitation. The Developed Software is not designed, developed, licensed or provided for use in
connection with any nuclear facility, or in connection with the flight, navigation or communication of aircraft or ground support equipment, or in connection with military or medical equipment/applications or activities, or any other inherently
dangerous or high risk equipment/applications or activities (“High Risk Use”). Starry agrees that ON Semiconductor (and its licensors/suppliers) shall not be liable or responsible for any claims, losses, demands, costs, expenses or
liabilities whatsoever arising from or in relation to any such High Risk Use of the Software, modifications or products by Starry or customers. Notwithstanding the foregoing, ON Semiconductor acknowledges and agrees that Starry’s use of the
Developed Software as an internet service provider shall not be considered a High Risk Use. 

  

	4.6	 Ownership; No Implied Licenses. Subject to the licenses expressly granted herein by each Party to the
other Party, each Party (and/or its licensors/suppliers) retains all rights, title and interest in and to their software and Intellectual Property Rights. Each Party (and/or its licensors/suppliers) reserves all rights not expressly granted
hereunder, and there are no implied licenses granted by either Party hereunder. Certain elements of the Developed Software may be provided in files/data formatted for use with or by certain third-party
software/tools/products. No licenses or rights to any such third-party software/tools/products are granted to Starry by ON Semiconductor. Starry shall ensure that it has obtained all necessary licenses and
rights to use any such third-party software/tools/products which are necessary in order to utilize the Developed Software. 

 

	4.7	 Copyright Notices. Starry and ON Semiconductor and its Affiliates shall retain, and shall require any
third parties to retain, all copyright and other notices within the Developed Software and any Modifications. 

  

	4.8	 Support. Except as otherwise agreed to herein, Starry acknowledges and agrees that ON Semiconductor (and
its licensors/suppliers) has no and shall have no obligation or responsibility whatsoever under this Agreement to provide to Starry, Starry’s customer, or any third party, any maintenance, support or assistance, and ON Semiconductor (and its
licensors/suppliers) cannot and shall not be held liable or responsible to Starry, Starry’s customer, or any third party for the failure to provide any such support. 

Beginning on the date Starry accepts Milestone 5 as described in Article 2.3, ON Semiconductor agrees to provide commercially reasonable
support for the Developed Software, including [***]. In the event that more than [***] hours of support are needed in any particular years, the Parties will mutually agree on any additional fees payable by Starry for such support. Starry may
discontinue this support at any time upon written notice to ON Semiconductor and payment of any pro-rata accrued but unpaid support fee up to the date of such discontinuation. 

 

	4.9	 Non-Infringement. ON Semiconductor represents and
warrants that the Developed Software will not infringe or constitute a misappropriation of any right of any third party, including any Intellectual Property Rights of any third party, except to the extent due to Starry’s required specifications
in the SOW. 

  
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	4.10	 Warranty Disclaimer. EXCEPT AS EXPRESSLY PROVIDED HEREIN, ALL DEVELOPED SOFTWARE IS PROVIDED
BY ON SEMICONDUCTOR TO STARRY HEREUNDER “AS IS” AND WITHOUT ANY REPRESENTATIONS OR WARRANTIES WHATSOEVER. WITHOUT LIMITING THE FOREGOING, ON SEMICONDUCTOR (AND ITS LICENSORS/SUPPLIERS) HEREBY DISCLAIMS ANY AND ALL REPRESENTATIONS AND
WARRANTIES IN RELATION TO THE DEVELOPED SOFTWARE, ANY MODIFICATIONS, OR THIS AGREEMENT, WHETHER EXPRESS, IMPLIED, STATUTORY OR OTHERWISE, INCLUDING WITHOUT LIMITATION ANY AND ALL REPRESENTATIONS AND WARRANTIES OF MERCHANTABILITY, FITNESS FOR A
PARTICULAR PURPOSE, TITLE, NON-INFRINGEMENT, AND THOSE ARISING FROM A COURSE OF DEALING, TRADE USAGE, TRADE CUSTOM OR TRADE PRACTICE. 

 

	4.11	 Starry Responsibility for Modifications. Starry acknowledges and agrees that Starry is solely and wholly
responsible and liable for any and all Modifications, and any and all of Starry’s products and/or services (excluding the Developed Software), including without limitation, with respect to the installation, manufacturing, testing, distribution,
use, support and/or maintenance of any of the foregoing. Starry shall, at Starry’s sole expense, defend, indemnify and hold harmless ON Semiconductor and its Affiliates from and against any and all claims, demands, suits, actions, and
proceedings, and all related damages, costs, and expenses (including reasonable attorneys’ fees), arising from, related to or in connection with Modifications, Starry’s products and/or services (excluding the Developed Software), including
without limitation, in relation to product liability or infringement of third party rights. 

  

	4.12	 No License to Background Intellectual Property. Except as expressly provided herein, nothing contained
in this Agreement shall operate or be construed to grant any license, by implication, estoppel or otherwise, under any of Starry’s or ON Semiconductor’s respective Background Intellectual Property. 

 

	4.13	 Indemnification. ON Semiconductor agrees to defend any claim, suit or proceeding asserted against Starry
based upon a claim that ON Semiconductor Product(s) purchased hereunder or Starry’s use of the Intellectual Property licensed to it with ON Semiconductor Product(s) hereunder directly infringes any patent, mask work right or copyright,
effective in the USA and to [***]. If such a claim has occurred, or in ON Semiconductor’s sole and reasonable judgment is likely to occur, Starry agrees to [***]. This indemnity does not extend to any claims based upon any infringement or
alleged infringement of any patent, mask work right or copyright to the extent arising from: [***]. THE FOREGOING STATES ON SEMICONDUCTOR’S ENTIRE LIABILITY FOR PATENT, MASK WORK RIGHT OR COPYRIGHT INFRINGEMENT AND IS IN LIEU OF ALL
REPRESENTATIONS, WARRANTIES OR CONDITIONS EXPRESSED OR IMPLIED, IN REGARD THERETO. 

  
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	4.14	 Starry Use of ODM or JDM. For the avoidance of doubt, Starry may utilize an original design manufacturer
or joint development manufacturer to design, develop, manufacture, license, distribute and sell Starry equipment (“Third Party Manufacturer”) subject to Article 3.3, and ON Semiconductor agrees that any license provided to Starry pursuant
to this Article 4 extends to any Third Party Manufacturer to the extent necessary for such Third Party Manufacturer to provide services for Starry equipment. 

  

	4.15	 License Grant of Protocol to Starry. Notwithstanding anything herein to the contrary, for use of ON
Semiconductor’s [***] in a fixed wireless access network to enable over the air communication with Starry’s base station products in the ordinary course of Starry’s business for use only in connection with Starry’s base station
products to interoperate with ON Semiconductor Products, ON Semiconductor and its Affiliates hereby grant Starry a limited, worldwide, fully paid-up, royalty-free, non-exclusive, non-transferable (except as provided in Article 9.4), and non-sublicensable license under ON Semiconductor’s and its Affiliates’ Intellectual Property Rights including distribution and/or
hosting of software only in a format which is executable by a machine and not human readable, to Starry’s Customer(s) for use by such Customers strictly and solely for the purpose of enabling such Starry Products to interoperate or interface
with ON Semiconductor Products. 

 ARTICLE 5. PAYMENT TERMS 

 

	5.1	 Invoicing and Payment Terms. Within thirty (30) days following the acceptance of a Milestone
deliverable by Starry in accordance with the provisions of Article 2.4, ON Semiconductor will invoice Starry for the amount of the NRE payable by Starry in connection with such deliverable as set forth in Article 2.3. Invoices will be delivered by
ON Semiconductor by email to [***]. Starry shall pay the amount stated in such invoice within thirty (30) days following its receipt. In the event of any inconsistency between an invoice and this Agreement, the terms of this Agreement shall
control. 

  

	5.2	 Use of Affiliates. The Parties agree that ON Semiconductor’s Affiliates may provide or accept
invoices, purchase orders, or payments on behalf of ON Semiconductor. 

  

	5.3	 Offsets. Taxes may be deducted, withheld, or separately stated as a line item on an invoice payable
pursuant to this Agreement as may be required under the U.S. Internal Revenue Code of 1986 and/or any other applicable provisions of state, local, or foreign Tax law. The Parties shall work together in good faith to take such commercially reasonable
actions as may be necessary or advisable to minimize any such withholding Taxes. To the extent that any Taxes are so withheld and timely remitted, such deducted and withheld amounts shall be treated for all purposes of this Agreement as having been
paid to the Person in respect of which such deduction and withholding was made. “Tax” or “Taxes” means any and all taxes, levies, imposts and other similar charges imposed by any governmental entity or domestic or foreign taxing
authority, including, income, franchise, windfall or other profits, gross receipts, premiums, property, sales, use, net worth, capital stock, payroll, employment, social security, unemployment, excise, withholding, ad valorem, stamp, transfer, value-added, gains tax, environmental, real property, personal property, registration, alternative or add-on minimum, or estimated tax, including any interest, penalty,
additions to tax or additional amounts imposed with respect thereto. 

  
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 ARTICLE 6. CONFIDENTIALITY 
  

	6.1	 Confidential Information. This Agreement and the terms hereof shall be treated as “Confidential
Information” according to the NDA. Notwithstanding any disclosure period set out in the NDA, such disclosure period shall extend automatically to the extent necessary to make it coterminous with the term of this Agreement.

 ARTICLE 7. LIMITATION OF LIABILITY 
  

	7.1	 LIMITATION OF LIABILITY. EXCEPT FOR EITHER PARTY’S BREACH OF ITS CONFIDENTIALITY OBLIGATIONS TO THE
OTHER PARTY IN ARTICLE 6, IN NO EVENT SHALL EITHER PARTY BE LIABLE FOR ANY CONSEQUENTIAL, INDIRECT, SPECIAL, INCIDENTAL OR EXEMPLARY DAMAGES, LOSS OF PROFITS, LOSS OF REVENUE, LOSS OF USE, LOSS OF GOODWILL, DATA LOSS, REWORK, REPAIR, MANUFACTURING
EXPENSES, COSTS OF PRODUCT RECALL, LOSS OF REPUTATION OR LOSS OF CUSTOMERS, REGARDLESS OF WHETHER THE OTHER PARTY HAS BEEN GIVEN NOTICE OF SUCH DAMAGES NOR REGARDLESS OF WHETHER THOSE DAMAGES ARE SOUGHT UNDER CONTRACT, TORT OR ANY OTHER THEORIES OF
LAW, EVEN IF SUCH PARTY WAS ADVISED OF THE POSSIBILITY SUCH DAMAGES. 

  

	7.2	 Cap on Losses. ON Semiconductor’s total cumulative liability for any and all losses, damages, or
liabilities arising under or in connection with this Agreement, under any theory of liability, shall in no event exceed [***]. 

ARTICLE 8. TERM & TERMINATION 
  

	8.1	 Term. Except as otherwise expressly provided herein, this Agreement shall continue until the earlier of
(i) completion of the Parties’ respective obligations hereunder or (ii) the three (3)-year anniversary of the Effective Date, unless this Agreement is earlier terminated by either Party pursuant
to the terms of Article 8.2. 

  

	8.2	 Termination for Cause. Either Party may terminate this Agreement if: (a) the other Party breaches
any material term of this Agreement and fails to remedy such breach within sixty (60) days of receiving written notice of the breach by the non-defaulting Party; (b) any proceeding in bankruptcy,
receivership, liquidation or insolvency is commenced against the other Party or its property, and the same is not dismissed within thirty (30) days; or (c) the other Party makes any assignment for the benefit of its creditors, becomes
insolvent, commits any act of bankruptcy, ceases to do business as a going concern, or seeks any arrangement or compromise with its creditors under any statute or otherwise. 

 

	8.3	 Effect of Termination. In the event that this Agreement is terminated or expires for any reason:

  

	 	(a)	 Each Party shall promptly destroy or return to the other Party any Confidential Information as described in the
NDA; and 

  
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	 	(b)	 any other express obligations in this Agreement of a continuing nature and to any right of either Party which
may have accrued at or up to the date of termination shall survive any termination or expiration of this Agreement. 

  

	8.4	 License Continuation. Notwithstanding anything to the contrary contained in this Agreement or any SOW,
the licenses granted pursuant to Article 4.1, 4.4, and 4.13 shall continue unaffected after the termination or expiration of this Agreement. 

ARTICLE 9. GENERAL PROVISIONS 
  

	9.1	 Relationship. Neither Starry nor ON Semiconductor shall represent that its relationship with respect to
the other Party is other than as an independent contractor. Nothing in this Agreement shall create in either Party any right or authority to incur any obligations on behalf of, or to bind in any respect, the other Party and nothing in this Agreement
shall be construed to create any agency, joint venture or partnership. 

  

	9.2	 Notices. Any notice required to be sent or given under this Agreement shall be sent in person, by
certified or registered mail return receipt requested, or by nationally-recognized express courier, addressed as follows: 

If to Starry: 
 Starry, Inc.

 38 Chauncy Street, Suite 200 

Boston, Massachusetts 02111 

Attn: General Counsel 
 If to ON
Semiconductor: 
 ON Semiconductor 

5005 E. McDowell Road 
 Phoenix,
Arizona 85008 
 Attn: IP Legal Department 
  

	9.3	 Force Majeure. Neither Party will be liable for not performing any of its obligations hereunder to the
extent such non-performance results from Force Majeure. Such non-performance will be excused for as long as such Force Majeure shall be continuing provided that the non-performing Party gives immediate written notice to the other Party of the Force Majeure. Such non-performing Party shall exercise all reasonable efforts to eliminate the
Force Majeure and to resume performance of its affected obligations as soon as practicable. The expression “Force Majeure” means acts of God, war, insurrections, fires, floods, epidemics, pandemics (i.e.,
COVID-19), freight embargoes, material shortage or labor conditions, or similar events beyond reasonable control. Force Majeure affecting a Party’s contractors/suppliers shall be considered to be Force
Majeure affecting said Party. Each Party shall promptly notify the other Party in writing of any delay caused by Force Majeure. 

  
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	9.4	 Assignment. Except upon prior written consent of the other Party, neither Party may assign any right or
obligation it may have under this Agreement except to an Affiliate or a successor to the whole or majority of that Party’s business by operation of law or otherwise. 

 

	9.5	 Governing Law. This Agreement shall be governed by the laws of the State of New York (except for its
conflict of laws provisions). The Parties expressly exclude from this Agreement all the provisions of the Vienna Convention, 1980 (The United Nations Convention on Contracts for the International Sale of Goods). EACH PARTY HEREBY IRREVOCABLY SUBMITS
TO THE EXCLUSIVE JURISDICTION OF COURTS LOCATED IN NEW YORK, NEW YORK FOR THE PURPOSE OF ANY JUDICIAL PROCEEDING ARISING OUT OF OR RELATING TO OR CONCERNING THIS AGREEMENT. 

 

	9.6	 Severability. The provisions of this Agreement shall be deemed severable. If any provision of this
Agreement shall be held unenforceable by any court of competent jurisdiction, it shall be severed from this Agreement and the remaining provisions shall remain in full force and effect. 

 

	9.7	 Amendments. This Agreement shall not be amended or modified except in writing signed by the Parties. No
course of dealing or usage of trade by or between the Parties shall be deemed to affect any such amendment or modification. 

  

	9.8	 Headings. All headings and captions contained herein are for convenience and ease of reference only and
are not to be considered in the construction or interpretation of any provision of this Agreement. 

  

	9.9	 Waivers. All remedies provided in this Agreement are cumulative and are in addition to any and all legal
rights of the Parties. Any consent by any Party to, or waiver of, a breach by the other, whether express or implied, shall not constitute a consent to, or a waiver of any other, different or subsequent breach. 

 

	9.10	 Publicity. The Parties agree that all information concerning: (i) this Agreement, (ii) either
of the Parties, or (iii) any of their names, trademarks or service marks, which is contained in any written or oral announcement, press release, or other public release of information, must be
pre-approved by both Parties in writing. 

  

	9.11	 Entire Agreement; Governing Terms. This Agreement and the Exhibits constitute the entire agreement
between the Parties with respect to the subject matter hereof, and cancels and supersedes any prior understanding and agreements between the Parties relating thereto. There are no representations, warranties, terms, conditions, undertakings or
collateral agreements, express, implied, statutory or otherwise between the Parties, except as expressly set forth in this Agreement. In the event that a conflict arises between this Agreement, any purchase order, any Exhibit, or any other document
relating to a project developed under this Agreement, this Agreement shall govern and prevail, unless specific reference is made to the section of this Agreement that such purchase order, Exhibit, or document intends to modify and the extent of such
modification and such modification is specifically agreed upon in writing by both Parties. 

  
 12 of 14 

	9.12	 Export Controls. In order to facilitate the exchange of information in accordance with this Agreement
and in conformity with the laws and regulations of the United States relating to the exportation of technical data, the Parties agree to comply fully with all relevant laws and regulations of the United States Government. Both Parties hereby certify
that no technical data or direct products thereof will be made available or exported or re-exported, directly or indirectly, to anyone unless such prior authorization as may be required is first obtained by
such Party from the Office of Export Administration of the U.S. Department of Commerce, International Trade Administration, in accordance with the Export Administration Regulations issued by the Department of Commerce of the United States in the
administration of the Export Administration Act of 1979, as amended from time to time. 

  

	9.13	 Counterparts. This Agreement may be executed in counterparts, and the counterparts together shall be
considered a whole. 

  

	9.14	 Use of Affiliates. During the performance of the Agreement, the Parties shall be entitled to use the
services of its affiliates, subcontractors, and/or consultants provided that each Party remains fully liable for the performance of its affiliates, subcontractors or consultants. 

 

	9.15	 Construction. This Agreement has been negotiated by the Parties, each of which has had the opportunity
to be represented by counsel. This Agreement will be fairly interpreted in accordance with its terms, without any strict construction in favour of or against either Party. If any provision or part of any provision of this Agreement or the Exhibits
hereto is invalidated by operation of law or otherwise, that provision or part will, to that extent, be deemed omitted and the remainder of the Agreement or applicable Exhibit will remain in full force and effect. In the place of any such invalid
provision or part thereof, the Parties undertake to agree on a similar but valid provision, the effect of which is as close as possible to that of the invalid provision or part thereof. All communications, data, documentation and disclosures of
information by the Parties under this Agreement will be in English and the English language will be the governing language in the performance of this Agreement. 

 

	9.16	 Signatures. The signature of a party via a scanned or digitized image of a handwritten signature (e.g.,
scan in PDF, JPEG, etc. formats) or an electronic signature shall have the same force and effect as an original handwritten signature for the purposes of validity, enforceability, and admissibility. Delivery of the fully executed copy of the
Agreement via e-mail or via electronic signature system shall have the same force and effect as delivery of an original hard copy. Signatures may be provided on separate pages. 

[SIGNATURE PAGE ON FOLLOWING PAGE] 

  
 13 of 14 

 IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed by their duly
authorized representative as of the Effective Date. 
  

					
	For Starry, Inc.	  		 	For Semiconductor Components Industries, LLC
			
	 By (signature):
 /s/ William J.
Lundregan
	  		 	 By (signature):
 /s/ Simon Duxbury

			
	 Name:
 William J. Lundregan
	  		 	 Name:
 Simon Duxbury

			
	 Title:
 SVP
	  		 	 Title:
 VP & OM, QCS

			
	 Date:
 09/07/2021
	  		 	 Date:
 08/25/2021

  
 14 of 14EXHIBIT 10.1

 

NEITHER THE ISSUANCE
AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE CONVERTIBLE HAVE BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED
OR ASSIGNED IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED,
OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT
REQUIRED UNDER SAID ACT.

 

Principal Amount: $53,750.00Issue Date: January
11, 2022 Purchase Price: $53,750.00

 

CONVERTIBLE PROMISSORY NOTE

 

FOR VALUE
RECEIVED, BANTEC, INC., a Delaware corporation (hereinafter called the “Borrower”), hereby promises to pay to the
order of SIXTH STREET LENDING LLC, a Virginia limited liability company, or registered assigns (the “Holder”) the sum
of $53,750.00 together with any interest as set forth herein, on January 11, 2023 (the “Maturity Date”), and to pay interest
on the unpaid principal balance hereof at the rate of ten percent (10%)(the “Interest Rate”) per annum from the date hereof
(the “Issue Date”) until the same becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise.
This Note may not be prepaid in whole or in part except as otherwise explicitly set forth herein. Any amount of principal or interest
on this Note which is not paid when due shall bear interest at the rate of twenty two percent (22%) per annum from the due date thereof
until the same is paid (“Default Interest”). Interest shall commence accruing on the date that the Note is fully paid and
shall be computed on the basis of a 365-day year and the actual number of days elapsed. All payments due hereunder (to the extent not
converted into common stock, $0.0001 par value per share (the “Common Stock”) in accordance with the terms hereof) shall be
made in lawful money of the United States of America. All payments shall be made at such address as the Holder shall hereafter give to
the Borrower by written notice made in accordance with the provisions of this Note. Each capitalized term used herein, and not otherwise
defined, shall have the meaning ascribed thereto in that certain Securities Purchase Agreement dated the date hereof, pursuant to which
this Note was originally issued (the “Purchase Agreement”).

 

This Note is
free from all taxes, liens, claims and encumbrances with respect to the issue thereof and shall not be subject to preemptive rights or
other similar rights of shareholders of the Borrower and will not impose personal liability upon the holder thereof.

 

     

     

    

 

The following terms shall apply to this Note:

 

ARTICLE I. CONVERSION
RIGHTS

 

1.1 Conversion
Right. The Holder shall have the right from time to time, and at any time during the period beginning on the date which is one
hundred eighty (180) days following the date of this Note and ending on the later of: (i) the Maturity Date and (ii) the date of
payment of the Default Amount (as defined in Article III), each in respect of the remaining outstanding amount of this Note to
convert all or any part of the outstanding and unpaid amount of this Note into fully paid and non- assessable shares of Common
Stock, as such Common Stock exists on the Issue Date, or any shares of capital stock or other securities of the Borrower into which
such Common Stock shall hereafter be changed or reclassified at the conversion price (the “Conversion Price”) determined
as provided herein (a “Conversion”); provided, however, that in no event shall the Holder be
entitled to convert any portion of this Note in excess of that portion of this Note upon conversion of which the sum of (1) the
number of shares of Common Stock beneficially owned by the Holder and its affiliates (other than shares of Common Stock which may be
deemed beneficially owned through the ownership of the unconverted portion of the Notes or the unexercised or unconverted portion of
any other security of the Borrower subject to a limitation on conversion or exercise analogous to the limitations contained herein)
and (2) the number of shares of Common Stock issuable upon the conversion of the portion of this Note with respect to which the
determination of this proviso is being made, would result in beneficial ownership by the Holder and its affiliates of more than
4.99% of the outstanding shares of Common Stock. For purposes of the proviso to the immediately preceding sentence, beneficial
ownership shall be determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the
“Exchange Act”), and Regulations 13D-G thereunder, except as otherwise provided in clause (1) of such proviso. The
beneficial ownership limitations on conversion as set forth in the section may NOT be waived by the Holder. The number of shares
of Common Stock to be issued upon each conversion of this Note shall be determined by dividing the Conversion Amount (as defined
below) by the applicable Conversion Price then in effect on the date specified in the notice of conversion, in the form attached
hereto as Exhibit A (the “Notice of Conversion”), delivered to the Borrower by the Holder in accordance with Section 1.4
below; provided that the Notice of Conversion is submitted by facsimile or e-mail (or by other means resulting in, or reasonably
expected to result in, notice) to the Borrower before 6:00 p.m., New York, New York time on such conversion date (the
“Conversion Date”); however, if the Notice of Conversion is sent after 6:00pm, New York, New York time the Conversion
Date shall be the next business day. The term “Conversion Amount” means, with respect to any conversion of this Note,
the sum of (1) the principal amount of this Note to be converted in such conversion plus (2) at the Holder’s option,
accrued and unpaid interest, if any, on such principal amount at the interest rates provided in this Note to the Conversion Date, plus
(3) at the Holder’s option, Default Interest, if any, on the amounts referred to in the immediately preceding clauses (1)
and/or (2) plus (4) at the Holder’s option, any amounts owed to the Holder pursuant to Sections 1.4 hereof.

 

1.2 Conversion
Price. The Conversion Price shall be equal to the Variable Conversion Price (as defined herein)(subject to equitable adjustments for
stock splits, stock dividends or rights offerings by the Borrower relating to the Borrower’s securities or the securities of any
subsidiary of the Borrower, combinations, recapitalization, reclassifications, extraordinary distributions and similar events). The "Variable
Conversion Price" shall mean 65% multiplied by the Market Price (as defined herein) (representing a discount rate of 35%). “Market
Price” means the average of the two (2) lowest Trading Price (as defined below) for the Common Stock during the fifteen (15) Trading
Day period ending on the latest complete Trading Day prior to the Conversion Date. “Trading Price” means, for any security
as of any date, the closing bid price on the OTCQB, OTCQX, Pink Sheets electronic quotation system or applicable trading market (the “OTC”)
as reported by a reliable reporting service (“Reporting Service”) designated by the Holder (i.e. Bloomberg) or, if the OTC
is not the principal trading market for such security, the closing bid price of such security on the principal securities exchange or
trading market where such security is listed or traded or, if no closing bid price of such security is available in any of the foregoing
manners, the average of the closing bid prices of any market makers for such security that are listed in the “pink sheets”.
If the Trading Price cannot be calculated for such security on such date in the manner provided above, the Trading Price shall be the
fair market value as mutually determined by the Borrower and the holders of a majority in interest of the Notes being converted for which
the calculation of the Trading Price is required in order to determine the Conversion Price of such Notes. “Trading Day” shall
mean any day on which the Common Stock is tradable for any period on the OTC, or on the principal securities exchange or other securities
market on which the Common Stock is then being traded.

 

    2

     

    

 

1.3 Authorized
Shares. The Borrower covenants that during the period the conversion right exists, the Borrower will reserve from its authorized and
unissued Common Stock a sufficient number of shares, free from preemptive rights, to provide for the issuance of Common Stock upon the
full conversion of this Note issued pursuant to the Purchase Agreement. The Borrower is required at all times to have authorized and reserved
five times the number of shares that would be issuable upon full conversion of the Note (assuming that the 4.99% limitation set forth
in Section 1.1 is not in effect)(based on the respective Conversion Price of the Note (as defined in Section 1.2) in effect from time
to time, initially 413,461,538 shares)(the “Reserved Amount”). The Reserved Amount shall be increased (or decreased with the
written consent of the Holder) from time to time in accordance with the Borrower’s obligations hereunder. The Borrower represents
that upon issuance, such shares will be duly and validly issued, fully paid and non-assessable. In addition, if the Borrower shall issue
any securities or make any change to its capital structure which would change the number of shares of Common Stock into which the Notes
shall be convertible at the then current Conversion Price, the Borrower shall at the same time make proper provision so that thereafter
there shall be a sufficient number of shares of Common Stock authorized and reserved, free from preemptive rights, for conversion of the
outstanding Note. The Borrower (i) acknowledges that it has irrevocably instructed its transfer agent to issue certificates for the Common
Stock issuable upon conversion of this Note, and (ii) agrees that its issuance of this Note shall constitute full authority to its officers
and agents who are charged with the duty of executing stock certificates to execute and issue the necessary certificates for shares of
Common Stock in accordance with the terms and conditions of this Note.

 

If, at any time the Borrower does not
maintain the Reserved Amount it will be considered an Event of Default under Section 3.2 of the Note.

 

 1.4 Method of Conversion.

 

(a) Mechanics
of Conversion. As set forth in Section 1.1 hereof, from time to time, and at any time during the period beginning on the date which
is one hundred eighty (180) days following the date of this Note and ending on the later of: (i) the Maturity Date and (ii) the date of
payment of the Default Amount, this Note may be converted by the Holder in whole or in part at any time from time to time after the Issue
Date, by (A) submitting to the Borrower a Notice of Conversion (by facsimile, e-mail or other reasonable means of communication dispatched
on the Conversion Date prior to 6:00 p.m., New York, New York time) and (B) subject to Section 1.4(b), surrendering this Note at the principal
office of the Borrower (upon payment in full of any amounts owed hereunder).

 

(b) Surrender
of Note Upon Conversion. Notwithstanding anything to the contrary set forth herein, upon conversion of this Note in accordance with
the terms hereof, the Holder shall not be required to physically surrender this Note to the Borrower unless the entire unpaid principal
amount of this Note is so converted. The Holder and the Borrower shall maintain records showing the principal amount so converted and
the dates of such conversions or shall use such other method, reasonably satisfactory to the Holder and the Borrower, so as not to require
physical surrender of this Note upon each such conversion.

 

(c) Delivery
of Common Stock Upon Conversion. Upon receipt by the Borrower from the Holder of a facsimile transmission or e-mail (or other
reasonable means of communication) of a Notice of Conversion meeting the requirements for conversion as provided in this Section
1.4, the Borrower shall issue and deliver or cause to be issued and delivered to or upon the order of the Holder certificates for
the Common Stock issuable upon such conversion within three (3) business days after such receipt (the “Deadline”) (and,
solely in the case of conversion of the entire unpaid principal amount hereof, surrender of this Note) in accordance with the terms
hereof and the Purchase Agreement. Upon receipt by the Borrower of a Notice of Conversion, the Holder shall be deemed to be the
holder of record of the Common Stock issuable upon such conversion, the outstanding principal amount and the amount of accrued and
unpaid interest on this Note shall be reduced to reflect such conversion, and, unless the Borrower defaults on its obligations
hereunder, all rights with respect to the portion of this Note being so converted shall forthwith terminate except the right to
receive the Common Stock or other securities, cash or other assets, as herein provided, on such conversion. If the Holder shall have
given a Notice of Conversion as provided herein, the Borrower’s obligation to issue and deliver the certificates for Common
Stock shall be absolute and unconditional, irrespective of the absence of any action by the Holder to enforce the same, any waiver
or consent with respect to any provision thereof, the recovery of any judgment against any person or any action to enforce the same,
any failure or delay in the enforcement of any other obligation of the Borrower to the holder of record, or any setoff,
counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder of any obligation to the
Borrower, and irrespective of any other circumstance which might otherwise limit such obligation of the Borrower to the Holder in
connection with such conversion.

 

    3

     

    

 

(d) Delivery
of Common Stock by Electronic Transfer. In lieu of delivering physical certificates representing the Common Stock issuable upon conversion,
provided the Borrower is participating in the Depository Trust Company (“DTC”) Fast Automated Securities Transfer (“FAST”)
program, upon request of the Holder and its compliance with the provisions set forth herein, the Borrower shall use its best efforts to
cause its transfer agent to electronically transmit the Common Stock issuable upon conversion to the Holder by crediting the account of
Holder’s Prime Broker with DTC through its Deposit Withdrawal Agent Commission (“DWAC”) system.

 

(e) Failure
to Deliver Common Stock Prior to Deadline. Without in any way limiting the Holder’s right to pursue other remedies,
including actual damages and/or equitable relief, the parties agree that if delivery of the Common Stock issuable upon conversion of
this Note is not delivered by the Deadline due to action and/or inaction of the Borrower, the Borrower shall pay to the Holder
$2,000 per day in cash, for each day beyond the Deadline that the Borrower fails to deliver such Common Stock (the “Fail to
Deliver Fee”); provided; however that the Fail to Deliver Fee shall not be due if the failure is a result of a third party
(i.e., transfer agent; and not the result of any failure to pay such transfer agent) despite the best efforts of the Borrower to
effect delivery of such Common Stock. Such cash amount shall be paid to Holder by the fifth day of the month following the month in
which it has accrued or, at the option of the Holder (by written notice to the Borrower by the first day of the month following the
month in which it has accrued), shall be added to the principal amount of this Note, in which event interest shall accrue thereon in
accordance with the terms of this Note and such additional principal amount shall be convertible into Common Stock in accordance
with the terms of this Note. The Borrower agrees that the right to convert is a valuable right to the Holder. The damages resulting
from a failure, attempt to frustrate, interference with such conversion right are difficult if not impossible to qualify.
Accordingly, the parties acknowledge that the liquidated damages provision contained in this Section 1.4(e) are
justified.

 

1.5 Concerning
the Shares. The shares of Common Stock issuable upon conversion of this Note may not be sold or transferred unless: (i) such
shares are sold pursuant to an effective registration statement under the Act or (ii) the Borrower or its transfer agent shall have
been furnished with an opinion of counsel (which opinion shall be in form, substance and scope customary for opinions of counsel in
comparable transactions) to the effect that the shares to be sold or transferred may be sold or transferred pursuant to an exemption
from such registration (such as Rule 144 or a successor rule) (“Rule 144”); or (iii) such shares are transferred to an
“affiliate” (as defined in Rule 144) of the Borrower who agrees to sell or otherwise transfer the shares only in
accordance with this Section 1.5 and who is an Accredited Investor (as defined in the Purchase Agreement).

 

    4

     

    

 

Any restrictive legend on certificates
representing shares of Common Stock issuable upon conversion of this Note shall be removed and the Borrower shall issue to the Holder
a new certificate therefore free of any transfer legend if the Borrower or its transfer agent shall have received an opinion of counsel
from Holder’s counsel, in form, substance and scope customary for opinions of counsel in comparable transactions, to the effect
that (i) a public sale or transfer of such Common Stock may be made without registration under the Act, which opinion shall be accepted
by the Company so that the sale or transfer is effected; or (ii) in the case of the Common Stock issuable upon conversion of this Note,
such security is registered for sale by the Holder under an effective registration statement filed under the Act; or otherwise may be
sold pursuant to an exemption from registration. In the event that the Company does not reasonably accept the opinion of counsel provided
by the Holder with respect to the transfer of Securities pursuant to an exemption from registration (such as Rule 144), at the Deadline,
it will be considered an Event of Default pursuant to Section 3.2 of the Note.

 

 1.6 Effect of Certain Events.

 

(a) Effect
of Merger, Consolidation, Etc. At the option of the Holder, the sale, conveyance or disposition of all or substantially all of the
assets of the Borrower, the effectuation by the Borrower of a transaction or series of related transactions in which more than 50% of
the voting power of the Borrower is disposed of, or the consolidation, merger or other business combination of the Borrower with or into
any other Person (as defined below) or Persons when the Borrower is not the survivor shall be deemed to be an Event of Default (as defined
in Article III) pursuant to which the Borrower shall be required to pay to the Holder upon the consummation of and as a condition to such
transaction an amount equal to the Default Amount (as defined in Article III). “Person” shall mean any individual, corporation,
limited liability company, partnership, association, trust or other entity or organization.

 

(b) Adjustment
Due to Merger, Consolidation, Etc. If, at any time when this Note is issued and outstanding and prior to conversion of all of
the Note, there shall be any merger, consolidation, exchange of shares, recapitalization, reorganization, or other similar event, as
a result of which shares of Common Stock of the Borrower shall be changed into the same or a different number of shares of another
class or classes of stock or securities of the Borrower or another entity, or in case of any sale or conveyance of all or
substantially all of the assets of the Borrower other than in connection with a plan of complete liquidation of the Borrower, then
the Holder of this Note shall thereafter have the right to receive upon conversion of this Note, upon the basis and upon the terms
and conditions specified herein and in lieu of the shares of Common Stock immediately theretofore issuable upon conversion, such
stock, securities or assets which the Holder would have been entitled to receive in such transaction had this Note been converted in
full immediately prior to such transaction (without regard to any limitations on conversion set forth herein), and in any such case
appropriate provisions shall be made with respect to the rights and interests of the Holder of this Note to the end that the
provisions hereof (including, without limitation, provisions for adjustment of the Conversion Price and of the number of shares
issuable upon conversion of the Note) shall thereafter be applicable, as nearly as may be practicable in relation to any securities
or assets thereafter deliverable upon the conversion hereof. The Borrower shall not affect any transaction described in this Section
1.6(b) unless (a) it first gives, to the extent practicable, ten (10) days prior written notice (but in any event at least five (5)
days prior written notice) of the record date of the special meeting of shareholders to approve, or if there is no such record date,
the consummation of, such merger, consolidation, exchange of shares, recapitalization, reorganization or other similar event or sale
of assets (during which time the Holder shall be entitled to convert this Note) and (b) the resulting successor or acquiring entity
(if not the Borrower) assumes by written instrument the obligations of this Note. The above provisions shall similarly apply to
successive consolidations, mergers, sales, transfers or share exchanges.

 

    5

     

    

 

(c) Adjustment
Due to Distribution. If the Borrower shall declare or make any distribution of its assets (or rights to acquire its assets) to holders
of Common Stock as a dividend, stock repurchase, by way of return of capital or otherwise (including any dividend or distribution to the
Borrower’s shareholders in cash or shares (or rights to acquire shares) of capital stock of a subsidiary (i.e., a spin-off)) (a
“Distribution”), then the Holder of this Note shall be entitled, upon any conversion of this Note after the date of record
for determining shareholders entitled to such Distribution, to receive the amount of such assets which would have been payable to the
Holder with respect to the shares of Common Stock issuable upon such conversion had such Holder been the holder of such shares of Common
Stock on the record date for the determination of shareholders entitled to such Distribution.

 

1.7 Prepayment.
Notwithstanding anything to the contrary contained in this Note, at any time during the periods set forth on the table immediately
following this paragraph (the “Prepayment Periods”) or as otherwise agreed to between the Borrower and the Holder, the
Borrower shall have the right, exercisable on not more than three (3) Trading Days prior written notice to the Holder of the Note to
prepay the outstanding Note (principal and accrued interest), in full, in accordance with this Section 1.7. Any notice of prepayment
hereunder (an “Optional Prepayment Notice”) shall be delivered to the Holder of the Note at its registered addresses and
shall state: (1) that the Borrower is exercising its right to prepay the Note, and (2) the date of prepayment which shall be not
more than three (3) Trading Days from the date of the Optional Prepayment Notice. On the date fixed for prepayment (the
“Optional Prepayment Date”), the Borrower shall make payment of the Optional Prepayment Amount (as defined below) to
Holder, or upon the direction of the Holder as specified by the Holder in a writing to the Borrower (which shall direction to be
sent to Borrower by the Holder at least one (1) business day prior to the Optional Prepayment Date). If the Borrower exercises its
right to prepay the Note, the Borrower shall make payment to the Holder of an amount in cash equal to the percentage
(“Prepayment Percentage”) as set forth in the table immediately following this paragraph opposite the applicable
Prepayment Period, multiplied by the sum of: (w) the then outstanding principal amount of this Note plus (x) accrued and
unpaid interest on the unpaid principal amount of this Note to the Optional Prepayment Date plus (y) Default Interest, if
any, on the amounts referred to in clauses (w) and (x) plus (z) any amounts owed to the Holder pursuant to Section 1.4 hereof
(the “Optional Prepayment Amount”).

 

	Prepayment Period	 	Prepayment Percentage	 
	1. The period beginning on the Issue Date and ending on the date which is thirty (30) days following the Issue Date.	 	 	112	%
	2. The period beginning on the date which is thirty-one 
(31) days following the Issue Date and ending on the date which is 
sixty (60) days following the Issue Date.	 	 	117	%
	3. The period beginning on the date which is sixty-one 
(61) days following the Issue Date and ending on the date which is 
ninety (90) days following the Issue Date.	 	 	122	%
	4. The period beginning on the date that is ninety-one 
(91) day from the Issue Date and ending one hundred twenty (120) days following the Issue Date.	 	 	127	%
	5. The period beginning on the date that is one hundred twenty-one (121) day from the Issue Date and ending one hundred eighty (180) days following the Issue Date.	 	 	135	%

 

    6

     

    

 

After the expiration of the Prepayment
Periods set forth above, the Borrower may submit an Optional Prepayment Notice to the Holder. Upon receipt by the Holder of the Optional
Prepayment Notice post Prepayment Periods, the prepayment shall be subject to the Holder’s and the Borrower’s agreement with
respect to the applicable Prepayment Percentage.

 

Notwithstanding anything contained
herein to the contrary, the Holder’s conversion rights herein shall not be affected in any way until the Note is fully paid (funds
received by the Holder) pursuant to an Optional Prepayment Notice.

 

ARTICLE II. CERTAIN COVENANTS

 

2.1 Sale
of Assets. So long as the Borrower shall have any obligation under this Note, the Borrower shall not, without the Holder’s written
consent, sell, lease or otherwise dispose of any significant portion of its assets outside the ordinary course of business. Any consent
to the disposition of any assets may be conditioned on a specified use of the proceeds of disposition.

 

ARTICLE III. EVENTS OF
DEFAULT

 

If any of the following events of default (each, an “Event
of Default”) shall occur:

 

3.1 Failure
to Pay Principal and Interest. The Borrower fails to pay the principal hereof or interest thereon when due on this Note, whether at
maturity or upon acceleration and such breach continues for a period of five (5) days after written notice from the Holder.

 

3.2 Conversion
and the Shares. The Borrower fails to issue shares of Common Stock to the Holder (or announces or threatens in writing that it will
not honor its obligation to do so) upon exercise by the Holder of the conversion rights of the Holder in accordance with the terms of
this Note, fails to transfer or cause its transfer agent to transfer (issue) (electronically or in certificated form) any certificate
for shares of Common Stock issued to the Holder upon conversion of or otherwise pursuant to this Note as and when required by this Note,
the Borrower directs its transfer agent not to transfer or delays, impairs, and/or hinders its transfer agent in transferring (or issuing)
(electronically or in certificated form) any certificate for shares of Common Stock to be issued to the Holder upon conversion of or otherwise
pursuant to this Note as and when required by this Note, or fails to remove (or directs its transfer agent not to remove or impairs, delays,
and/or hinders its transfer agent from removing) any restrictive legend (or to withdraw any stop transfer instructions in respect thereof)
on any certificate for any shares of Common Stock issued to the Holder upon conversion of or otherwise pursuant to this Note as and when
required by this Note (or makes any written announcement, statement or threat that it does not intend to honor the obligations described
in this paragraph) and any such failure shall continue uncured (or any written announcement, statement or threat not to honor its obligations
shall not be rescinded in writing) for three (3) business days after the Holder shall have delivered a Notice of Conversion. It is an
obligation of the Borrower to remain current in its obligations to its transfer agent. It shall be an event of default of this Note, if
a conversion of this Note is delayed, hindered or frustrated due to a balance owed by the Borrower to its transfer agent. If at the option
of the Holder, the Holder advances any funds to the Borrower’s transfer agent in order to process a conversion, such advanced funds
shall be paid by the Borrower to the Holder within forty-eight (48) hours of a demand from the Holder.

 

    7

     

    

 

3.3 Breach
of Covenants. The Borrower breaches any material covenant or other material term or condition contained in this Note and any collateral
documents including but not limited to the Purchase Agreement and such breach continues for a period of twenty (20) days after written
notice thereof to the Borrower from the Holder.

 

3.4 Breach
of Representations and Warranties. Any representation or warranty of the Borrower made herein or in any agreement, statement or certificate
given in writing pursuant hereto or in connection herewith (including, without limitation, the Purchase Agreement), shall be false or
misleading in any material respect when made and the breach of which has (or with the passage of time will have) a material adverse effect
on the rights of the Holder with respect to this Note or the Purchase Agreement.

 

3.5 Receiver
or Trustee. The Borrower or any subsidiary of the Borrower shall make an assignment for the benefit of creditors, or apply for or
consent to the appointment of a receiver or trustee for it or for a substantial part of its property or business, or such a receiver or
trustee shall otherwise be appointed.

 

3.6 Bankruptcy.
Bankruptcy, insolvency, reorganization or liquidation proceedings or other proceedings, voluntary or involuntary, for relief under any
bankruptcy law or any law for the relief of debtors shall be instituted by or against the Borrower or any subsidiary of the Borrower.

 

3.7 Delisting
of Common Stock. The Borrower shall fail to maintain the listing of the Common Stock on at least one of the OTC (which specifically
includes the quotation platforms maintained by the OTC Markets Group) or an equivalent replacement exchange, the Nasdaq National Market,
the Nasdaq SmallCap Market, the New York Stock Exchange, or the American Stock Exchange.

 

3.8 Failure
to Comply with the Exchange Act. The Borrower shall fail to comply with the reporting requirements of the Exchange Act; and/or the
Borrower shall cease to be subject to the reporting requirements of the Exchange Act.

 

3.9 Liquidation.
Any dissolution, liquidation, or winding up of Borrower or any substantial portion of its business.

 

3.10 Cessation
of Operations. Any cessation of operations by Borrower or Borrower admits it is otherwise generally unable to pay its debts as such
debts become due, provided, however, that any disclosure of the Borrower’s ability to continue as a “going concern”
shall not be an admission that the Borrower cannot pay its debts as they become due.

 

3.11Financial
Statement Restatement.The restatement of any financial statements filed by the Borrower with the SEC at any time after 180 days
after the Issuance Date for any date or period until this Note is no longer outstanding, if the result of such restatement would, by comparison
to the un-restated financial statement, have constituted a material adverse effect on the rights of the Holder with respect to this Note
or the Purchase Agreement.

 

3.12 Replacement
of Transfer Agent. In the event that the Borrower proposes to replace its transfer agent, the Borrower fails to provide, prior to
the effective date of such replacement, a fully executed Irrevocable Transfer Agent Instructions in a form as initially delivered pursuant
to the Purchase Agreement (including but not limited to the provision to irrevocably reserve shares of Common Stock in the Reserved Amount)
signed by the successor transfer agent to Borrower and the Borrower.

 

    8

     

    

 

3.13 Cross-Default.
Notwithstanding anything to the contrary contained in this Note or the other related or companion documents, a breach or default by the
Borrower of any covenant or other term or condition contained in any of the Other Agreements, after the passage of all applicable notice
and cure or grace periods, shall, at the option of the Holder, be considered a default under this Note and the Other Agreements, in which
event the Holder shall be entitled (but in no event required) to apply all rights and remedies of the Holder under the terms of this Note
and the Other Agreements by reason of a default under said Other Agreement or hereunder. “Other Agreements” means, collectively,
all agreements and instruments between, among or by: (1) the Borrower, and, or for the benefit of, (2) the Holder and any affiliate of
the Holder, including, without limitation, promissory notes; provided, however, the term “Other Agreements” shall not include
the related or companion documents to this Note. Each of the loan transactions will be cross-defaulted with each other loan transaction
and with all other existing and future debt of Borrower to the Holder.

 

Upon
the occurrence and during the continuation of any Event of Default specified in Section 3.1 (solely with respect to failure to pay
the principal hereof or interest thereon when due at the Maturity Date), the Note shall become immediately due and payable and the
Borrower shall pay to the Holder, in full satisfaction of its obligations hereunder, an amount equal to the Default Sum (as defined
herein). UPON THE OCCURRENCE AND DURING THE CONTINUATION OF ANY EVENT OF DEFAULT SPECIFIED IN SECTION 3.2, THE NOTE SHALL BECOME
IMMEDIATELY DUE AND PAYABLE AND THE BORROWER SHALL PAY TO THE HOLDER, IN FULL SATISFACTION OF ITS OBLIGATIONS HEREUNDER, AN AMOUNT
EQUAL TO: (Y) THE DEFAULT SUM (AS DEFINED HEREIN); MULTIPLIED BY (Z) TWO (2). Upon the occurrence and during the continuation of any
Event of Default specified in Sections 3.1 (solely with respect to failure to pay the principal hereof or interest thereon when due
on this Note upon a Trading Market Prepayment Event pursuant to Section 1.7 or upon acceleration), 3.3, 3.4, 3.7, 3.8, 3.10, 3.11,
3.12, 3.13, and/or 3.14 exercisable through the delivery of written notice to the Borrower by such Holders (the “Default
Notice”), and upon the occurrence of an Event of Default specified the remaining sections of Articles III (other than failure
to pay the principal hereof or interest thereon at the Maturity Date specified in Section 3,1 hereof), the Note shall become
immediately due and payable and the Borrower shall pay to the Holder, in full satisfaction of its obligations hereunder, an amount
equal to the greater of (i) 150% times the sum of (w) the then outstanding principal amount of this Note plus
(x) accrued and unpaid interest on the unpaid principal amount of this Note to the date of payment (the “Mandatory Prepayment
Date”) plus (y) Default Interest, if any, on the amounts referred to in clauses (w) and/or (x) plus (z) any
amounts owed to the Holder pursuant to Sections 1.3 and 1.4(g) hereof (the then outstanding principal amount of this Note to the
date of payment plus the amounts referred to in clauses (x), (y) and (z) shall collectively be known as the “Default
Sum”) or (ii) the “parity value” of the Default Sum to be prepaid, where parity value means (a) the highest number
of shares of Common Stock issuable upon conversion of or otherwise pursuant to such Default Sum in accordance with Article I,
treating the Trading Day immediately preceding the Mandatory Prepayment Date as the “Conversion Date” for purposes of
determining the lowest applicable Conversion Price, unless the Default Event arises as a result of a breach in respect of a specific
Conversion Date in which case such Conversion Date shall be the Conversion Date), multiplied by (b) the highest Closing Price
for the Common Stock during the period beginning on the date of first occurrence of the Event of Default and ending one day prior to
the Mandatory Prepayment Date (the “Default Amount”) and all other amounts payable hereunder shall immediately become
due and payable, all without demand, presentment or notice, all of which hereby are expressly waived, together with all costs,
including, without limitation, legal fees and expenses, of collection, and the Holder shall be entitled to exercise all other rights
and remedies available at law or in equity.

 

    9

     

    

 

If the Borrower fails to pay the
Default Amount within five (5) business days of written notice that such amount is due and payable, then the Holder shall have the right
at any time, so long as the Borrower remains in default (and so long and to the extent that there are sufficient authorized shares), to
require the Borrower, upon written notice, to immediately issue, in lieu of the Default Amount, the number of shares of Common Stock of
the Borrower equal to the Default Amount divided by the Conversion Price then in effect.

 

ARTICLE IV. MISCELLANEOUS

 

4.1 Failure
or Indulgence Not Waiver. No failure or delay on the part of the Holder in the exercise of any power, right or privilege hereunder
shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege preclude other or further
exercise thereof or of any other right, power or privileges. All rights and remedies existing hereunder are cumulative to, and not exclusive
of, any rights or remedies otherwise available.

 

4.2 Notices.
All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall be in writing and,
unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered or certified, return receipt
requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid, or (iv) transmitted by hand delivery,
telegram, or facsimile, addressed as set forth below or to such other address as such party shall have specified most recently by written
notice. Any notice or other communication required or permitted to be given hereunder shall be deemed effective (a) upon hand delivery
or delivery by facsimile, with accurate confirmation generated by the transmitting facsimile machine, at the address or number designated
below (if delivered on a business day during normal business hours where such notice is to be received), or the first business day following
such delivery (if delivered other than on a business day during normal business hours where such notice is to be received) or (b) on the
second business day following the date of mailing by express courier service, fully prepaid, addressed to such address, or upon actual
receipt of such mailing, whichever shall first occur. The addresses for such communications shall be:

 

If to the Borrower, to:

 

BANTEC, INC.

195 Paterson Avenue

Little Falls, NJ 07424

Attn: Michael Bannon, Chief Executive Officer Fax:

Email: mike@bantecinc.com

If
to the Holder:

 

SIXTH STREET LENDING LLC

1800 Diagonal Road, Suite 623

Alexandria VA 22314

Attn: Curt Kramer, President

e-mail: ckramer@sixthstreetlending.com

 

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

 

Naidich Wurman LLP

111 Great Neck Road, Suite 216

Great Neck, NY 11021

Attn: Allison Naidich

facsimile: 516-466-3555

e-mail:
allison@nwlaw.com

 

    10

     

    

 

4.3 Amendments.
This Note and any provision hereof may only be amended by an instrument in writing signed by the Borrower and the Holder. The term “Note”
and all reference thereto, as used throughout this instrument, shall mean this instrument (and the other Notes issued pursuant to the
Purchase Agreement) as originally executed, or if later amended or supplemented, then as so amended or supplemented.

 

4.4 Assignability.
This Note shall be binding upon the Borrower and its successors and assigns, and shall inure to be the benefit of the Holder and its successors
and assigns. Each transferee of this Note must be an “accredited investor” (as defined in Rule 501(a) of the Securities and
Exchange Commission). Notwithstanding anything in this Note to the contrary, this Note may be pledged as collateral in connection with
a bona fide margin account or other lending arrangement; and may be assigned by the Holder without the consent of the Borrower.

 

4.5 Cost
of Collection. If default is made in the payment of this Note, the Borrower shall pay the Holder hereof costs of collection, including
reasonable attorneys’ fees.

 

4.6 Governing
Law. This Note shall be governed by and construed in accordance with the laws of the State of Virginia without regard to principles
of conflicts of laws. Any action brought by either party against the other concerning the transactions contemplated by this Note shall
be brought only in the state courts of Virginia or in the federal courts located in the state and city of Alexandria, Virginia. The parties
to this Note hereby irrevocably waive any objection to jurisdiction and venue of any action instituted hereunder and shall not assert
any defense based on lack of jurisdiction or venue or based upon forum non conveniens. The Borrower and Holder waive trial by jury.
The Holder shall be entitled to recover from the Borrower its reasonable attorney's fees and costs. In the event that any provision of
this Note or any other agreement delivered in connection herewith is invalid or unenforceable under any applicable statute or rule of
law, then such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform
with such statute or rule of law. Any such provision which may prove invalid or unenforceable under any law shall not affect the validity
or enforceability of any other provision of any agreement. Each party hereby irrevocably waives personal service of process and consents
to process being served in any suit, action or proceeding in connection with this Note, any agreement or any other document delivered
in connection with this Note by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery)
to such party at the address in effect for notices to it under this Note and agrees that such service shall constitute good and sufficient
service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any
other manner permitted by law.

 

4.7 Purchase
Agreement. By its acceptance of this Note, each party agrees to be bound by the applicable terms of the Purchase Agreement.

 

4.8 Remedies.
The Borrower acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Holder, by vitiating
the intent and purpose of the transaction contemplated hereby. Accordingly, the Borrower acknowledges that the remedy at law for a
breach of its obligations under this Note will be inadequate and agrees, in the event of a breach or threatened breach by the
Borrower of the provisions of this Note, that the Holder shall be entitled, in addition to all other available remedies at law or in
equity, and in addition to the penalties assessable herein, to an injunction or injunctions restraining, preventing or curing any
breach of this Note and to enforce specifically the terms and provisions thereof, without the necessity of showing economic loss and
without any bond or other security being required.

 

    11

     

    

 

IN WITNESS WHEREOF, Borrower has caused
this Note to be signed in its name by its duly authorized officer this on January 11, 2022

 

	BANTEC, INC.	 
	 	 	 
	By:	/s/ Michael Bannon	 
	 	Michael Bannon	 
	 	Chief Executive Officer	 

 

 

12

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