Document:

Exhibit 10.2

 

 

September 8, 2022

 

Jim Purcell

[***]

[***]

 

Sent by Email jim.purcell@ebet.gg and via FEDEX

 

Re: Mutually Agreed Separation of Employment

 

Dear Jim

 

This letter agreement is being issued following
meetings with you recently where it was mutually agreed that the best course of actions for both parties is your separation of employment
from the Company. You have represented to me and to the Board of Directors of EBET, INC. and its legal counsel that as of the date of
your departure you have witnessed no fraud or inappropriate conduct in connection with the financial affairs or financial reporting of
EBET, Inc.

 

This shall serve as formal notice of termination
of your employment with Esportsbook Technologies Ltd., an affiliated and wholly owned subsidiary of EBET, Inc. (collectively the “Company”)
and as such termination of your First Amended and Restated Employment Agreement dated December 22, 2021 (“Agreement”) with
the Company. Your employment will officially terminate on the mutually agreed date of effective termination which is the date exactly
14 days from the date you execute the attached Form of Acceptance. Your attendance is not required at the workplace during this period
but you have agreed to cooperate in the transition of your role to others as may be reasonably required. This cooperation may include
working with a newly appointed interim CFO as well as executing documents and/or providing information as reasonably required. The following
details the mutual agreement and understanding of your termination and separation of your relationship with the Company and the conditions
for acceptance of same.

 

		1.	Compromise and Agreement.

 

This letter is sent to you without admission
of liability on the part of the Company or either of them or any affiliated entity thereof nor any admission of liability of your own.
However, once it is accepted by you it will serve as a full and final settlement and compromise of claims and demands made or which may
be made by you relative to your employment and the termination of your employment with the Company whether in contract or statute or otherwise
and the Company shall owe you no further consideration, compensation or any form of same including equity, stock options, restricted stock
units, cash bonuses, cash or otherwise.

 

		2.	Separation Terms.

 

Subject to the conditions stated herein,
the Company will:

 

Make payment to you by wire transfer
after the receipt of this fully executed Agreement as follows:

 

		(i)	Payment for time employed up to your termination date paid on your termination effective date.
		(ii)	Payment equivalent to six (6) months of employment in lieu of the notice period pursuant to the Notice
of Termination to Be Given by the Company section of your Agreement with such payment being made in six (6) equal monthly instalments
paid through the following six (6) payrolls using the existing payroll calendar (4th Thursday of each month), starting on the
30th day following your date of execution of the Form Of Acceptance.
		(iii)	Ex-gratia payment €16,415.38.
		(iv)	Stipend for legal advice up to €1,500 and paid upon presentation of your lawyer’s bill for
services rendered.

 

		(b)	The Company will continue to pay your Healthcare contributions up to September 30, 2022. You should then
make your own Healthcare arrangements. Company service provider, VHI, will be in contact with you directly regarding same.

 

		(c)	Should you have any business expenses pending submission, please forward these through our Expense portal
within 7 days of the date you sign the Form of Acceptance and these will be paid in due course.

 

		(d)	You have vested in 70,000 options to purchase common stock of EBET, INC. at an exercise price of $2.00
per share and exercisable in accordance with the EBET 2020 Equity Plan which is as of the 90th day from the date of your effective
date of termination.

 

 

 

    	 	1	 

     

    

 

		(e)	You have vested in 5,000 RSUs of EBET, Inc.

 

		(f)	The Company has agreed to pay you a one-time cash bonus of EUR 85,360 (“Separation Bonus”)
to be paid to you upon EBET, Inc.’s next fundraising/offering closing so long as such closing involves net cash to EBET, Inc. of
no less than $4,000,000 (“Qualified Offering”). Should a Qualified Offering not occur prior to November 1, 2022, then it is
agreed that the Company shall pay you the Separation Bonus in equal monthly instalments over a 12-month period commencing October 1, 2022.

 

		(g)	You will be placed on Garden leave for 2 weeks from the date you sign the Form of Acceptance below.

 

		(h)	You shall return the Company laptop to Joe Griffin no later than October 31, 2022.

 

 

Please note that given this termination any Stock
Options/Restricted Stock Units (“RSUs”) offered to you that have not yet vested up to this termination date or that are
not delineated hereinabove will no longer remain valid and any such vesting shall cease and any right to vest or receive same in the future
have been forfeited and terminated.

 

The severance payment is subject to such tax and
other deductions, as the Company is required to deduct from the gross amount and admit to the Revenue Authorities pursuant to income tax
and social welfare legislation.

 

		3.	Conditions

 

		(a)	You will complete all necessary further documentation and execution same as may be reasonably required
by the Company.

 

		(b)	The Company and you agree that the terms and facts of this agreement and its contents may be disclosed
as required by law. 

 

		(c)	You acknowledge that during the term of your employment you had access to information which is confidential
and/or proprietary to the Company and its clients, including but not limited to information of a business, financial or technical nature
and all other information relating to the business and affairs of the Company and its clients which is not in the public domain through
no fault on your part. You undertake and agree that all such information shall be and remain at all times the exclusive property of the
Company. You further undertake and agree that you will at all times hereafter maintain such information in confidence and shall not disclose
such information to anyone else nor shall you use it for your own benefit or for the benefit of others except as expressly directed in
writing by the Company.

 

		(d)	You shall deliver up to the Company, Company property in your possession or under your control including,
without limitation, security passes to the Company’s premises and all Company documents, plans, financial data, laptop, computer
discs, files, memoranda, correspondence and all documentation prepared or obtained by you in the course of your employment with the Company
relating to its affairs. You undertake not to retain copies of any Company documentation in your possession or under your control, without
the prior written consent of the Company.

 

		(e)	The Parties will not at any time hereafter for a period of two (2) years, in any fashion, form, or manner,
criticize, denigrate or otherwise disparage or cause disparagement of any other Party, and will not say or do anything that damages or
impairs in any way the goodwill and/or reputation of the Parties; provided that you may respond accurately and fully to any request for
information if required by legal process or in connection with a government investigation. In addition, nothing in this provision or this
Agreement is intended to prohibit or restrain you in any manner from making disclosures protected under the whistleblower provisions of
federal, provincial or state law or regulation or other applicable law or regulation.

 

		(f)	You agree that for a period of one (1) year after the date of your signing the Form of Acceptance, without
the written consent of the Company, you will not contact, solicit or otherwise communicate with any employee of the Company unless requested
by Company to do so.

 

		(g)	You agree to cooperate fully with the Company in connection with its actual or contemplated defense, prosecution,
or investigation of any claims or demands by or against third parties, or other matters arising from events, acts, or failures to act
that occurred during the period of your employment by the Company. Such cooperation includes, without limitation, making yourself available
to the Company upon reasonable notice, without subpoena, to provide complete, truthful and accurate information in witness interviews,
depositions, and trial testimony. The Company will reimburse you for reasonable out-of-pocket expenses you incur in connection with any
such cooperation (excluding foregone wages, salary, or other compensation) and will make reasonable efforts to accommodate your scheduling
needs.

 

 

 

 

    	 	2	 

     

    

 

		(h)	You agree that the resolution of this matter is dependent on you executing the attached Form of Acceptance.

 

This represents the entirety of our agreement
with you in connection with your termination of employment and supersedes all prior agreements or understanding including emails or otherwise.
If any portion of this agreement is unenforceable then all other aspects of the agreement shall remain in force to the fullest extent
as allowed by law. This may be executed in counterparts.

 

Please read this letter and the attached Form
of Acceptance carefully and ensure that you fully understand the contents of both. You may wish to consider consulting with a legal advisor
prior to signing the Form of Acceptance. If you are satisfied that you understand and agree with the terms set out in this letter and
in the Form of Acceptance please sign the Form of Acceptance where indicated and return it to me. Your signature on the Form of Acceptance
should be witnessed where indicated.

 

 

 

Yours sincerely

 

 

 

 

_/s/ Aaron Speach_________

Aaron Speach

 

 

 

 

 

 

    	 	3	 

     

    

 

FORM OF ACCEPTANCE

 

I hereby confirm that: [ x ] I have taken legal
advice on the above letter dated SEPTEMBER 8, 2022 / OR [ ] I considered taking advice the above letter dated SEPTEMBER 8, 2022
but have decided not to do same and understand all the terms and conditions set out in the said letter, a copy of which is annexed
to this acceptance.

 

I hereby irrevocably and unconditionally accept
the terms and conditions of this letter and agree that same are in full and final settlement solely of all claims of compensation made
or which may be made by me, in this or in any other jurisdiction, against Esportsbook Technologies Ltd, EBET, INC. and each of their affiliated
entities, its parent, subsidiaries and associated companies and/or each and all of their respective officers, directors, partners, employees
and/or agents or clients (hereinafter collectively called “the Company”). As such, and solely relating to my waiver and release
of payment, compensation or consideration only I hereby acknowledge and agree that the provisions made in this letter constitute a full
and final settlement of all compensation claims (if any) which I may have against the Company, its parent, subsidiaries and associated
companies and/or each and all of their respective officers, directors, partners, employees and/or agents, whether such claims arise under
contract, statute (including but not limited to the Redundancy Payments Acts 1967 to 2007, Minimum Notice and Terms of Employment Acts,
1973 to 2001, Payment of Wages Act 1991, the Unfair Dismissals Acts 1977 to 2016, Organisation of Working Time Act, 1997, Protection of
Employees (Part-Time Work) Act, 2001, Protection of Employees (Fixed-Term Work) Act 2003 and Employment Equality Acts, 1998 to 2011, in
tort, in equity, at common law or otherwise howsoever arising.

 

I do not waiver or release any other rights by
executing hereinbelow and specifically reserve any and all other rights without exception.

 

 

	Signed by:	/s/ Jim Purcell
	 	Jim Purcell
	 	 
	Dated:	       9/8/2022                         

 

 

 

 

 

 

 

 

 

 

 

 

    	 	4Exhibit 4.2 

 

THE REGISTERED HOLDER OF THIS PURCHASE WARRANT BY ITS ACCEPTANCE HEREOF,
AGREES THAT IT WILL NOT SELL, TRANSFER OR ASSIGN THIS PURCHASE WARRANT EXCEPT AS HEREIN PROVIDED AND THE REGISTERED HOLDER OF THIS PURCHASE
WARRANT AGREES THAT IT WILL NOT SELL, TRANSFER, ASSIGN, PLEDGE OR HYPOTHECATE THIS PURCHASE WARRANT FOR A PERIOD OF ONE HUNDRED EIGHTY
DAYS FOLLOWING [●], 2022, WHICH IS THE COMMENCEMENT DATE OF SALES IN THE COMPANY’S INITIAL PUBLIC OFFERING TO ANYONE OTHER
THAN (I) THE BENCHMARK COMPANY LLC, OR A SELECTED DEALER IN CONNECTION WITH THE OFFERING FOR WHICH THIS PURCHASE WARRANT WAS ISSUED TO
THE UNDERWRITER AS CONSIDERATION, OR (II) THE OFFICERS OR PARTNERS, REGISTERED PERSONS OR AFFILIATES OF BENCHMARK COMPANY LLC. 

 

ORDINARY SHARES PURCHASE WARRANT

 

ICZOOM GROUP INC. 

 

	 	 	 
	Warrant Shares: [●]	 	Initial Exercise Date: [●], 20[●]
	 	 
	 	 	Issue Date: [●], 20[●]

 

THIS ORDINARY SHARES PURCHASE WARRANT (the “Warrant”)
certifies that, for value received, The Benchmark Company, LLC or its assignees assigns (the “Holder”)
are entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after
the date hereof [THE DATE THAT IS SIX (6) MONTHS AFTER THE CONSUMMATION OF THE COMPANY’S INITIAL PUBLIC OFFERING] (the “Initial
Exercise Date”) and on or prior to 5:00 p.m. (New York City time) on [●], 20[●] [DATE THAT IS FIVE YEARS AFTER
THE COMMENCEMENT OF SALES IN THE COMPANY’S INITIAL PUBLIC OFFERING] (the “Termination Date”) but
not thereafter, to subscribe for and purchase from ICZOOM GROUP INC., a Cayman Islands exempted company with limited liability (the “Company”),
up to [180,000]1 Ordinary Shares (as defined below)(as subject to adjustment hereunder, the “Warrant Shares”).
The purchase price of one Ordinary Shares under this Warrant shall be equal to the Exercise Price, as defined in Section 2(b).

 

Section 1. Definitions. In
addition to the terms defined elsewhere in this Warrant, the following terms have the meanings indicated in this Section 1:

 

“Affiliate” means
any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control with
a Person, as such terms are used in and construed under Rule 405 under the Securities Act.

 

“Bid Price” means,
for any date, the price determined by the first of the following clauses that applies: (a) if the Ordinary Share is then listed or
quoted on a Trading Market, the bid price of the Ordinary Share for the time in question (or the nearest preceding date) on the Trading
Market on which the Ordinary Share is then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30 a.m. (New
York City time) to 4:02 p.m. (New York City time)), (b) if OTCQB or OTCQX is not a Trading Market, the volume weighted average price of
the Ordinary Share for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the Ordinary Share is not
then listed or quoted for trading on OTCQB or OTCQX and if prices for the Ordinary Share is then reported on the Pink Open Market (or
a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per Ordinary Share so reported,
or (d) in all other cases, the fair market value of a share of Ordinary Share as determined by an independent appraiser selected
in good faith by the Holders of a majority in interest of the Warrants then outstanding and reasonably acceptable to the Company, the
fees and expenses of which shall be paid by the Company.

 

 

	1	Equal to an aggregate of 6% of the Ordinary Shares sold in
the Company’s initial public offering.

 

     

     

    

 

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

 

“Business Day” means
any day other than Saturday, Sunday or other day on which commercial banks in The City of New York are authorized or required by law to
remain closed; provided, however, for clarification, commercial banks shall not be deemed to be authorized or required by
law to remain closed due to “stay at home”, “shelter-in-place”, “non-essential employee” or any other
similar orders or restrictions or the closure of any physical branch locations at the direction of any governmental authority so long
as the electronic funds transfer systems (including for wire transfers) of commercial banks in The City of New York generally are open
for use by customers on such day.

 

“Commission” means
the United States Securities and Exchange Commission.

 

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

 

“Ordinary Share” means
the Class A ordinary shares of the Company, $0.16 par value, and any other class of securities into which such securities may hereafter
be reclassified or changed.

 

“Ordinary Share Equivalents” means
any securities of the Company or the Subsidiaries which would entitle the holder thereof to acquire at any time Ordinary Share, including,
without limitation, any debt, preferred share, right, option, warrant or other instrument that is at any time convertible into or exercisable
or exchangeable for, or otherwise entitles the holder thereof to receive, Ordinary Share.

 

“Person” means
an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability company,
joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

“Registration Statement” means
the Company’s registration statement on Form F-1 (File No. 333-259012), as amended.

 

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

 

“Subsidiary” means
any subsidiary of the Company and shall, where applicable, also include any direct or indirect subsidiary of the Company formed or acquired
after the date hereof.

 

“Trading Day” means
a day on which the Ordinary Share is traded on a Trading Market.

 

“Trading Market” means
any of the following markets or exchanges on which the Ordinary Share is listed or quoted for trading on the date in question: the NYSE
American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, the New York Stock Exchange, OTCQB or
OTCQX (or any successors to any of the foregoing).

 

“Transfer Agent” means
TranShare Corporation, Bayside Center 1, 17755 North US Highway 19, Suite 140, Clearwater, Florida 33764, and any successor transfer agent
of the Company.

 

“Underwriting Agreement” means
the underwriting agreement, dated as of [●], 2022 among the Company, The Benchmark Company, LLC as the representative of the underwriters
named therein, as amended, modified or supplemented from time to time in accordance with its terms.

 

    2

     

    

 

“VWAP” means,
for any date, the price determined by the first of the following clauses that applies: (a) if the Ordinary Share is then listed or
quoted on a Trading Market, the daily volume weighted average price of the Ordinary Share for such date (or the nearest preceding date)
on the Trading Market on which the Ordinary Share is then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from
9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if OTCQB or OTCQX is not a Trading Market, the volume weighted
average price of the Ordinary Share for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the Ordinary
Share is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Ordinary Share is then reported on the Pink Open
Market (or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per Ordinary Share
so reported, or (d) in all other cases, the fair market value of an Ordinary Share as determined by an independent appraiser selected
in good faith by the holders of a majority in interest of the Warrants then outstanding and reasonably acceptable to the Company, the
fees and expenses of which shall be paid by the Company.

 

“Warrants” means
this Warrant and any new Warrant or Warrants to be issued upon division, combination or partial exercise of this Warrant.

 

Section 2. Exercise.

 

a) Exercise of Warrant. Subject
to the provisions of Section 2(e) herein, exercise of the purchase rights represented by this Warrant may be made, in whole or in
part, at any time or times on or after the Initial Exercise Date and on or before the Termination Date, by delivery to the Company of
a duly executed facsimile copy or PDF copy submitted by e-mail (or e-mail attachment) of the Notice of Exercise in the form annexed hereto
as Annex A (the “Notice of Exercise”), provided, however that a Notice of Exercise shall only be deemed
to have been delivered to the Company upon the delivery of the aggregate Exercise Price of the Warrant Shares specified in the applicable
Notice of Exercise as specified in this Section 2(a). Within the earlier of (i) two (2) Trading Days and (ii) the number
of Trading Days comprising the Standard Settlement Period (as defined in Section 2(d)(i) herein) following the date of exercise as
aforesaid, the Holder shall deliver the aggregate Exercise Price for the Warrant Shares specified in the applicable Notice of Exercise
by wire transfer of immediately available funds or cashier’s check drawn on a United States bank unless the cashless exercise procedure
specified in Section 2(c) below is specified in the applicable Notice of Exercise. No ink-original Notice of Exercise shall be required,
nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice of Exercise be required. Notwithstanding
anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company until the Holder
has purchased all of the Warrant Shares available hereunder and the Warrant has been exercised in full, in which case, the Holder shall
surrender this Warrant to the Company for cancellation within three (3) Trading Days of the date on which the final Notice of Exercise
is delivered to the Company. Partial exercises of this Warrant resulting in purchases of a portion of the total number of Warrant Shares
available hereunder shall have the effect of lowering the outstanding number of Warrant Shares purchasable hereunder in an amount equal
to the applicable number of Warrant Shares purchased. The Holder and the Company shall maintain records showing the number of Warrant
Shares purchased and the date of such purchases. The Company shall deliver any objection to any Notice of Exercise within one (1) Trading
Day of receipt of such notice. Notwithstanding the foregoing, with respect to any Notice(s) of Exercise delivered on or prior to 4:00
p.m. (New York City time) on the Trading Date prior to the Initial Exercise Date, which may be delivered at any time after the time of
execution of the Purchase Agreement, the Company agrees to deliver the Warrant Shares subject to such notice(s) by 4:00 p.m. (New York
City time) on the Initial Exercise Date and the Initial Exercise Date shall be the Warrant Share Delivery Date for purposes hereunder,
provided that payment of the aggregate Exercise Price (other than in the case of a cashless exercise) is received by such Warrant Share
Delivery Date. The Holder and any assignee, by acceptance of this Warrant, acknowledge and agree that, by reason of the provisions
of this paragraph, following the purchase of a portion of the Warrant Shares hereunder, the number of Warrant Shares available for purchase
hereunder at any given time may be less than the amount stated on the face hereof.

 

    3

     

    

 

b) Exercise Price. The exercise
price per Ordinary Share under this Warrant shall be $[●]2, subject to adjustment hereunder (the “Exercise
Price”).

 

c) Cashless Exercise. This Warrant may be exercised, in whole
or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a number of Warrant
Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

 

	 	 	 
	 	(A) =  	as applicable: (i) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise if such Notice of Exercise is (1) both executed and delivered pursuant to Section 2(a) hereof on a day that is not a Trading Day or (2) both executed and delivered pursuant to Section 2(a) hereof on a Trading Day prior to the opening of “regular trading hours” (as defined in Rule 600(b)(68) of Regulation NMS promulgated under the federal securities laws) on such Trading Day, (ii) at the option of the Holder, either (y) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise or (z) the Bid Price of the Ordinary Share on the principal Trading Market as reported by Bloomberg L.P. as of the time of the Holder’s execution of the applicable Notice of Exercise if such Notice of Exercise is executed during “regular trading hours” on a Trading Day and is delivered within two (2) hours thereafter (including until two (2) hours after the close of “regular trading hours” on a Trading Day) pursuant to Section 2(a) hereof or (iii) the VWAP on the date of the applicable Notice of Exercise if the date of such Notice of Exercise is a Trading Day and such Notice of Exercise is both executed and delivered pursuant to Section 2(a) hereof after the close of “regular trading hours” on such Trading Day;
	 	 	 
	 	(B) =	the Exercise Price of this Warrant, as adjusted hereunder; and
	 	 	 
	 	(X) =	the number of Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant if such exercise were by means of a cash exercise rather than a cashless exercise.

 

If Warrant Shares are issued in such
a cashless exercise, the parties acknowledge and agree that in accordance with Section 3(a)(9) of the Securities Act, the Warrant
Shares shall take on the registered characteristics of the Warrants being exercised. The Company agrees not to take any position contrary
to this Section 2(c).

 

Notwithstanding anything herein to
the contrary, on the Termination Date, this Warrant shall be automatically exercised via cashless exercise pursuant to this Section 2(c).

 

 

	2	Equal to 125% of the offering price of the Ordinary Shares
sold in the Company’s initial public offering.

 

    4

     

    

 

d) Mechanics of Exercise.

 

i. Delivery of Warrant Shares Upon
Exercise. The Company shall cause the Warrant Shares purchased hereunder to be transmitted by the Transfer Agent to the Holder by
crediting the account of the Holder’s or its designee’s balance account with The Depository Trust Company through its Deposit
or Withdrawal at Custodian system (“DWAC”) if the Company is then a participant in such system and either (A) there
is an effective registration statement permitting the issuance of the Warrant Shares to or resale of the Warrant Shares by Holder or (B) this
Warrant is being exercised via cashless exercise, and otherwise by physical delivery of a certificate, registered in the Company’s
share register in the name of the Holder or its designee, for the number of Warrant Shares to which the Holder is entitled pursuant to
such exercise to the address specified by the Holder in the Notice of Exercise by the date that is the earliest of (i) three (3)
Trading Days after the delivery to the Company of the Notice of Exercise, (ii) two (2) Trading Days after delivery of the aggregate
Exercise Price to the Company and (iii) the number of Trading Days comprising the Standard Settlement Period after the delivery to
the Company of the Notice of Exercise (such date, the “Warrant Share Delivery Date”). Upon delivery of
the Notice of Exercise, the Holder shall be deemed for all corporate purposes to have become the holder of record of the Warrant Shares
with respect to which this Warrant has been exercised, irrespective of the date of delivery of the Warrant Shares. If the Company fails
for any reason to deliver to the Holder the Warrant Shares subject to a Notice of Exercise by the Warrant Share Delivery Date, the Company
shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of Warrant Shares subject to such exercise
(based on the VWAP of the Ordinary Share on the date of the applicable Notice of Exercise), $10 per Trading Day (increasing to $20 per
Trading Day on the fifth Trading Day after such liquidated damages begin to accrue) for each Trading Day after such Warrant Share Delivery
Date until such Warrant Shares are delivered or Holder rescinds such exercise. The Company agrees to maintain a transfer agent that is
a participant in the FAST program so long as this Warrant remains outstanding and exercisable. As used herein, “Standard
Settlement Period” means the standard settlement period, expressed in a number of Trading Days, on the Company’s
primary Trading Market with respect to the Ordinary Share as in effect on the date of delivery of the Notice of Exercise.

 

ii. Delivery of New Warrants Upon
Exercise. If this Warrant shall have been exercised in part, the Company shall, at the request of a Holder and upon surrender of this
Warrant certificate, at the time of delivery of the Warrant Shares, deliver to the Holder a new Warrant evidencing the rights of the Holder
to purchase the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall in all other respects be identical with
this Warrant.

 

iii. Rescission Rights. If
the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares pursuant to Section 2(d)(i) by the Warrant
Share Delivery Date, then the Holder will have the right to rescind such exercise.

 

    5

     

    

 

iv. Compensation for Buy-In on
Failure to Timely Deliver Warrant Shares Upon Exercise. In addition to any other rights available to the Holder, if the Company fails
to cause the Transfer Agent to transmit to the Holder the Warrant Shares in accordance with the provisions of Section 2(d)(i) above
pursuant to an exercise on or before the Warrant Share Delivery Date, and if after such date the Holder is required by its broker to purchase
(in an open market transaction or otherwise) or the Holder’s brokerage firm otherwise purchases, Ordinary Share to deliver in satisfaction
of a sale by the Holder of the Warrant Shares which the Holder anticipated receiving upon such exercise (a “Buy-In”),
then the Company shall (A) pay in cash to the Holder the amount, if any, by which (x) the Holder’s total purchase price
(including brokerage commissions, if any) for the Ordinary Share so purchased exceeds (y) the amount obtained by multiplying (1) the
number of Warrant Shares that the Company was required to deliver to the Holder in connection with the exercise at issue times (2) the
price at which the sell order giving rise to such purchase obligation was executed, and (B) at the option of the Holder, either reinstate
the portion of the Warrant and equivalent number of Warrant Shares for which such exercise was not honored (in which case such exercise
shall be deemed rescinded) or deliver to the Holder the number of Ordinary Share that would have been issued had the Company timely complied
with its exercise and delivery obligations hereunder. For example, if the Holder purchases Ordinary Share having a total purchase price
of $11,000 to cover a Buy-In with respect to an attempted exercise of Ordinary Share with an aggregate sale price giving rise to such
purchase obligation of $10,000, under clause (A) of the immediately preceding sentence the Company shall be required to pay the Holder
$1,000. The Holder shall provide the Company written notice indicating the amounts payable to the Holder in respect of the Buy-In and,
upon request of the Company, evidence of the amount of such loss. Nothing herein shall limit a Holder’s right to pursue any other
remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive
relief with respect to the Company’s failure to timely deliver Ordinary Shares upon exercise of the Warrant as required pursuant
to the terms hereof.

 

v. No Fractional Shares or Scrip.
No fractional shares or scrip representing fractional shares shall be issued upon the exercise of this Warrant. As to any fraction of
a share which the Holder would otherwise be entitled to purchase upon such exercise, the Company shall, at its election, either pay a
cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the Exercise Price or round up to
the next whole share.

 

vi. Charges, Taxes and Expenses.
Issuance of Warrant Shares shall be made without charge to the Holder for any issue or transfer tax or other incidental expense in respect
of the issuance of such Warrant Shares, all of which taxes and expenses shall be paid by the Company, and such Warrant Shares shall be
issued in the name of the Holder or in such name or names as may be directed by the Holder; provided, however, that, in
the event that Warrant Shares are to be issued in a name other than the name of the Holder, this Warrant when surrendered for exercise
shall be accompanied by the Assignment Form attached hereto as Annex B duly executed by the Holder and the Company may require, as a condition
thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental thereto. The Company shall pay all Transfer Agent
fees required for same-day processing of any Notice of Exercise and all fees to the Depository Trust Company (or another established clearing
corporation performing similar functions) required for same-day electronic delivery of the Warrant Shares.

 

vii. Closing of Books. The
Company will not close its shareholder books or records in any manner which prevents the timely exercise of this Warrant, pursuant to
the terms hereof.

 

    6

     

    

 

e) Holder’s Exercise Limitations.
The Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to exercise any portion of this Warrant,
pursuant to Section 2 or otherwise, to the extent that after giving effect to such issuance after exercise as set forth on the applicable
Notice of Exercise, the Holder (together with the Holder’s Affiliates, and any other Persons acting as a group together with the
Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)), would beneficially
own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of Ordinary
Shares beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of Ordinary Shares issuable
upon exercise of this Warrant with respect to which such determination is being made, but shall exclude the number of Ordinary Shares
which would be issuable upon (i) exercise of the remaining, nonexercised portion of this Warrant beneficially owned by the Holder
or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or nonconverted portion of any
other securities of the Company (including, without limitation, any other Ordinary Share Equivalents) subject to a limitation on conversion
or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties.
Except as set forth in the preceding sentence, for purposes of this Section 2(e), beneficial ownership shall be calculated in accordance
with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder, it being acknowledged by the Holder
that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act
and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation
contained in this Section 2(e) applies, the determination of whether this Warrant is exercisable (in relation to other securities
owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of this Warrant is exercisable shall be
in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination
of whether this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution
Parties) and of which portion of this Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company
shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status
as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated
thereunder. For purposes of this Section 2(e), in determining the number of outstanding Ordinary Shares, a Holder may rely on the
number of outstanding Ordinary Shares as reflected in (A) the Company’s most recent periodic or annual report filed with the
Commission, as the case may be, (B) a more recent public announcement by the Company or (C) a more recent written notice by
the Company or the Transfer Agent setting forth the number of Ordinary Shares outstanding. Upon the written or oral request of a Holder,
the Company shall within one Trading Day confirm orally and in writing to the Holder the number of Ordinary Shares then outstanding. In
any case, the number of outstanding Ordinary Shares shall be determined after giving effect to the conversion or exercise of securities
of the Company, including this Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number
of outstanding Ordinary Shares was reported. The “Beneficial Ownership Limitation” shall be 4.99%
(or, upon election by a Holder prior to the issuance of any Warrant, 9.99%) of the number of Ordinary Shares outstanding immediately after
giving effect to the issuance of Ordinary Shares issuable upon exercise of this Warrant. The Holder, upon notice to the Company, may increase
or decrease the Beneficial Ownership Limitation provisions of this Section 2(e), provided that the Beneficial Ownership Limitation
in no event exceeds 9.99% of the number of Ordinary Shares outstanding immediately after giving effect to the issuance of Ordinary Shares
upon exercise of this Warrant held by the Holder and the provisions of this Section 2(e) shall continue to apply. Any increase in
the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company.
The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of
this Section 2(e) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial
Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation.
The limitations contained in this paragraph shall apply to a successor holder of this Warrant.

 

    7

     

    

 

f) Piggyback Registration Rights. Whenever the Company proposes
to register any Ordinary Shares under the Act (other than (i) a registration effected solely to implement an employee benefit plan
or a transaction to which Rule 145 of the Act is applicable, or (ii) a registration statement on Form S-4, S-8 or any successor form
thereto or another form not available for registering the Shares issuable upon exercise of this Warrant for sale to the public, whether
for its own account or for the account of one or more shareholders of the Company (a “Piggyback Registration”), the
Company shall give prompt written notice (in any event no later than thirty (30) days prior to the filing of such registration statement)
to the Holder of the Company’s intention to effect such a registration and, subject to the remaining provisions of this Section 2(f),
shall include in such registration such number of Shares underlying this Warrant (the “Registrable Securities”) that
the Holders have (within thirty (30) days of the respective Holder’s receipt of such notice) requested in writing (including
such number) to be included within such registration. If a Piggyback Registration is an underwritten offering and the managing underwriter
advises the Company that it has determined in good faith that marketing factors require a limit on the number of Ordinary Shares to be
included in such registration, including all Shares issuable upon exercise of this Purchase Warrant (if the Holder has elected to include
such shares in such Piggyback Registration) and all other shares of common stock proposed to be included in such underwritten offering,
the Company shall include in such registration (i) first, the number of Ordinary Shares that the Company proposes to sell and (ii) second,
the number of Ordinary Shares, if any, requested to be included therein by selling shareholders (including the Holder) allocated pro rata
among all such persons on the basis of the number of Ordinary Shares then owned by each such person. If any Piggyback Registration is
initiated as a primary underwritten offering on behalf of the Company, the Company shall select the investment banking firm or firms to
act as the managing underwriter or underwriters in connection with such offering. Notwithstanding anything to the contrary, the obligations
of the Company pursuant to this Section 2(f) shall terminate on the earlier of (i) the third anniversary of the effective date
of the Registration Statement and (ii) the date that Rule 144 would allow the Holder to sell its Registrable Securities during any
ninety (90) day period, and shall not be applicable so long as the Company’s Registration Statement on Form F-1 (No. 333-259012)
covering the Registrable Securities remains effective at such time. The duration of the piggyback registration right shall not exceed
seven years from the commencement date of sales in the Company’s initial public offering .

 

g) Demand Registrations. Requests for Registration. Subject
to the terms and conditions of this Agreement, for a period of five years after the commencement date of sales in the Company’s
initial public offering in connection with the Registration Statement, the Holder may request registration under the Securities Act of
all or any portion of its Registrable Securities on Form F-1 or any similar long-form registration (“Long-Form Registrations”)
or on Form F-3 or any similar short-form registration (“Short-Form Registrations”), if available (any such requested
registration, a “Demand Registration”). Each request for a Demand Registration must specify the approximate number
or dollar value of Registrable Securities requested to be registered by the requesting Holders and (if known) the intended method of distribution.
The Holder will be entitled to request (i) one (1) Demand Registration in which the Company will pay all Registration Expenses and
(ii) one (1) Demand Registration in which the Holder will pay all Registration Expenses, in each case, whether or not any such registration
is consummated.

 

    8

     

    

 

Section 3. Certain Adjustments.

 

a) Stock Dividends and Splits.
If the Company, at any time while this Warrant is outstanding: (i) pays a stock dividend or otherwise makes a distribution or distributions
on Ordinary Shares or any other equity or equity equivalent securities payable in Ordinary Shares (which, for avoidance of doubt, shall
not include any Ordinary Share issued by the Company upon exercise of this Warrant), (ii) subdivides outstanding Ordinary Shares into
a larger number of shares, (iii) combines (including by way of reverse stock split) outstanding Ordinary Shares into a smaller number
of shares, or (iv) issues by reclassification of Ordinary Shares any shares of capital stock of the Company, then in each case the
Exercise Price shall be multiplied by a fraction of which the numerator shall be the number of Ordinary Shares (excluding treasury shares,
if any) outstanding immediately before such event and of which the denominator shall be the number of Ordinary Shares outstanding immediately
after such event, and the number of shares issuable upon exercise of this Warrant shall be proportionately adjusted such that the aggregate
Exercise Price of this Warrant shall remain unchanged. Any adjustment made pursuant to this Section 3(a) shall become effective immediately
after the record date for the determination of shareholders entitled to receive such dividend or distribution and shall become effective
immediately after the effective date in the case of a subdivision, combination or re-classification.

 

b) Reserved.

 

c) Subsequent Rights Offerings.
In addition to any adjustments pursuant to Section 3(a) above, if at any time the Company grants, issues or sells any Ordinary Share
Equivalents or rights to purchase stock, warrants, securities or other property pro rata to all (or substantially all) of the record holders
of any class of Ordinary Shares (the “Purchase Rights”), then the Holder will be entitled to acquire, upon
the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired if the Holder had held
the number of Ordinary Shares acquirable upon complete exercise of this Warrant (without regard to any limitations on exercise hereof,
including without limitation, the Beneficial Ownership Limitation) immediately before the date on which a record is taken for the grant,
issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of Ordinary Shares are
to be determined for the grant, issue or sale of such Purchase Rights (provided, however, that, to the extent that the Holder’s
right to participate in any such Purchase Right would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder
shall not be entitled to participate in such Purchase Right to such extent (or beneficial ownership of such Ordinary Shares as a result
of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance for the Holder until such time,
if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).

 

d) Pro Rata Distributions.
During such time as this Warrant is outstanding, if the Company shall declare or make any dividend or other distribution of its assets
(or rights to acquire its assets) to all (or substantially all) of holders of Ordinary Shares, by way of return of capital or otherwise
(including, without limitation, any distribution of cash, stock or other securities, property or options by way of a dividend, spin off,
reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a “Distribution”),
at any time after the issuance of this Warrant, then, in each such case, the Holder shall be entitled to participate in such Distribution
to the same extent that the Holder would have participated therein if the Holder had held the number of Ordinary Shares acquirable upon
complete exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation, the Beneficial
Ownership Limitation) immediately before the date of which a record is taken for such Distribution, or, if no such record is taken, the
date as of which the record holders of Ordinary Shares are to be determined for the participation in such Distribution (provided,
however, that, to the extent that the Holder’s right to participate in any such Distribution would result in the Holder exceeding
the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Distribution to such extent (or in the
beneficial ownership of any Ordinary Shares as a result of such Distribution to such extent) and the portion of such Distribution shall
be held in abeyance for the benefit of the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding
the Beneficial Ownership Limitation).

 

    9

     

    

 

e) Fundamental Transaction.
If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in one or more related transactions effects
any merger or consolidation of the Company with or into another Person, (ii) the Company or any Subsidiary, directly or indirectly,
effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially all of its assets in one
or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange offer (whether by the
Company or another Person) is completed pursuant to which holders of Ordinary Shares are permitted to sell, tender or exchange their shares
for other securities, cash or property and has been accepted by the holders of 50% or more of the outstanding Ordinary Shares, (iv) the
Company, directly or indirectly, in one or more related transactions effects any reclassification, reorganization or recapitalization
of the Ordinary Shares or any compulsory share exchange pursuant to which the Ordinary Shares are effectively converted into or exchanged
for other securities, cash or property, or (v) the Company, directly or indirectly, in one or more related transactions consummates
a stock or share purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization,
spin-off, merger or scheme of arrangement) with another Person or group of Persons whereby such other Person or group acquires more than
50% of the outstanding Ordinary Shares (not including any Ordinary Shares held by the other Person or other Persons making or party to,
or associated or affiliated with the other Persons making or party to, such stock or share purchase agreement or other business combination)
(each a “Fundamental Transaction”), then, upon any subsequent exercise of this Warrant, the Holder shall
have the right to receive, for each Warrant Share that would have been issuable upon such exercise immediately prior to the occurrence
of such Fundamental Transaction, at the option of the Holder (without regard to any limitation in Section 2(e) on the exercise of
this Warrant), the number of Ordinary Shares of the successor or acquiring corporation or of the Company, if it is the surviving corporation,
and any additional consideration (the “Alternate Consideration”) receivable as a result of such Fundamental
Transaction by a holder of the number of Ordinary Shares for which this Warrant is exercisable immediately prior to such Fundamental Transaction
(without regard to any limitation in Section 2(e) on the exercise of this Warrant). For purposes of any such exercise, the determination
of the Exercise Price shall be appropriately adjusted to apply to such Alternate Consideration based on the amount of Alternate Consideration
issuable in respect of one Ordinary Share in such Fundamental Transaction, and the Company shall apportion the Exercise Price among the
Alternate Consideration in a reasonable manner reflecting the relative value of any different components of the Alternate Consideration.
If holders of Ordinary Shares are given any choice as to the securities, cash or property to be received in a Fundamental Transaction,
then the Holder shall be given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant following
such Fundamental Transaction. The Company shall cause any successor entity in a Fundamental Transaction in which the Company is not the
survivor (the “Successor Entity”) to assume in writing all of the obligations of the Company under this
Warrant in accordance with the provisions of this Section 3(e) pursuant to written agreements in form and substance reasonably satisfactory
to the Holder and approved by the Holder (without unreasonable delay) prior to such Fundamental Transaction and shall, at the option of
the Holder, deliver to the Holder in exchange for this Warrant a security of the Successor Entity evidenced by a written instrument substantially
similar in form and substance to this Warrant which is exercisable for a corresponding number of shares of capital stock of such Successor
Entity (or its parent entity) equivalent to the Ordinary Shares acquirable and receivable upon exercise of this Warrant (without regard
to any limitations on the exercise of this Warrant) prior to such Fundamental Transaction, and with an exercise price which applies the
exercise price hereunder to such shares of capital stock (but taking into account the relative value of the Ordinary Shares pursuant to
such Fundamental Transaction and the value of such shares of capital stock, such number of shares of capital stock and such exercise price
being for the purpose of protecting the economic value of this Warrant immediately prior to the consummation of such Fundamental Transaction),
and which is reasonably satisfactory in form and substance to the Holder. Upon the occurrence of any such Fundamental Transaction, the
Successor Entity shall succeed to, and be substituted for (so that from and after the date of such Fundamental Transaction, the provisions
of this Warrant referring to the “Company” shall refer instead to the Successor Entity), and may exercise every right and
power of the Company and shall assume all of the obligations of the Company under this Warrant with the same effect as if such Successor
Entity had been named as the Company herein.

 

    10

     

    

 

f) Calculations. All calculations
under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be. For purposes of this
Section 3, the number of Ordinary Shares deemed to be issued and outstanding as of a given date shall be the sum of the number of
Ordinary Shares (excluding treasury shares, if any) issued and outstanding.

 

g) Notice to Holder.

 

i. Adjustment to Exercise Price.
Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company shall promptly deliver to the Holder
by facsimile or email a notice setting forth the Exercise Price after such adjustment and any resulting adjustment to the number of Warrant
Shares and setting forth a brief statement of the facts requiring such adjustment.

 

ii. Notice to Allow Exercise by
Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the Ordinary Shares, (B) the
Company shall declare a special nonrecurring cash dividend on or a redemption of the Ordinary Shares, (C) the Company shall authorize
the granting to all holders of the Ordinary Share rights or warrants to subscribe for or purchase any shares of capital stock of any class
or of any rights, (D) the approval of any shareholders of the Company shall be required in connection with any reclassification of
the Ordinary Shares, any consolidation or merger to which the Company (or any of its Subsidiaries) is a party, any sale or transfer of
all or substantially all of its assets, or any compulsory share exchange whereby the Ordinary Shares are converted into other securities,
cash or property, or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation or winding up of the affairs
of the Company, then, in each case, the Company shall cause to be delivered by facsimile or email to the Holder at its last facsimile
number or email address as it shall appear upon the Warrant Register of the Company, at least 20 calendar days prior to the applicable
record or effective date hereinafter specified, a notice (unless such information is filed with the Commission, in which case a notice
shall not be required) stating (x) the date on which a record is to be taken for the purpose of such dividend, distribution, redemption,
rights or warrants, or if a record is not to be taken, the date as of which the holders of the Ordinary Shares of record to be entitled
to such dividend, distributions, redemption, rights or warrants are to be determined or (y) the date on which such reclassification,
consolidation, merger, sale, transfer or share exchange is expected to become effective or close, and the date as of which it is expected
that holders of the Ordinary Shares of record shall be entitled to exchange their Ordinary Shares for securities, cash or other property
deliverable upon such reclassification, consolidation, merger, sale, transfer or share exchange; provided that the failure to deliver
such notice or any defect therein or in the delivery thereof shall not affect the validity of the corporate action required to be specified
in such notice. To the extent that any notice provided in this Warrant constitutes, or contains, material, non-public information regarding
the Company or any of the Subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant to a Report on
Form 8-K. The Holder shall remain entitled to exercise this Warrant during the period commencing on the date of such notice to the effective
date of the event triggering such notice except as may otherwise be expressly set forth herein.

 

    11

     

    

 

h) Voluntary Adjustment By Company.
Subject to the rules and regulations of the Trading Market, the Company may at any time during the term of this Warrant, subject to the
prior written consent of the Holder, reduce the then current Exercise Price to any amount and for any period of time deemed appropriate
by the board of directors of the Company.

 

Section 4. Transfer of Warrant.

 

a) Transferability. Commencing
180 days after the Issue Date, this Warrant and all rights hereunder (including, without limitation, any registration rights) are transferable,
in whole or in part, upon surrender of this Warrant at the principal office of the Company or its designated agent, together with a written
assignment of this Warrant substantially in the form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient
to pay any transfer taxes payable upon the making of such transfer. Upon such surrender and, if required, such payment, the Company shall
execute and deliver a new Warrant in the name of the assignee or assignees, as applicable, and in the denomination or denominations specified
in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned,
and this Warrant shall promptly be cancelled. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically
surrender this Warrant to the Company unless the Holder has assigned this Warrant in full, in which case, the Holder shall surrender this
Warrant to the Company within three (3) Trading Days of the date on which the Holder delivers an assignment form to the Company assigning
this Warrant in full. The Warrant, if properly assigned in accordance herewith, may be exercised by a new holder for the purchase of Warrant
Shares without having a new Warrant issued.

 

b) New Warrants. If this Warrant
is not held in global form through DTC (or any successor depositary), this Warrant may be divided or combined with other Warrants upon
presentation hereof at the aforesaid office of the Company, together with a written notice specifying the names and denominations in which
new Warrants are to be issued, signed by the Holder or its agent or attorney. Subject to compliance with Section 4(a), as to any
transfer which may be involved in such division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange
for the Warrant or Warrants to be divided or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall
be dated the initial issuance date of this Warrant and shall be identical with this Warrant except as to the number of Warrant Shares
issuable pursuant thereto.

 

Section 5. Reserved

 

Section 6. Miscellaneous.

 

a) No Rights as Shareholders until
Exercise; No Settlement in Cash. This Warrant does not entitle the Holder to any voting rights, dividends or other rights as a shareholders
of the Company prior to the exercise hereof as set forth in Section 2(d)(i), except as expressly set forth in Section 3. Without
limiting any rights of a Holder to receive Warrant Shares on a “cashless exercise” pursuant to Section 2(c) or to receive
cash payments pursuant to Section 2(d)(i) and Section 2(d)(iv) herein, including if the Company is for any reason unable to
issue and deliver Warrant Shares upon exercise of this Warrant as required pursuant to the terms hereof, in no event shall the Company
be required to net cash settle an exercise of this Warrant or cash settle in any other form.

 

    12

     

    

 

b) Loss, Theft, Destruction or
Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably satisfactory to it of the loss,
theft, destruction or mutilation of this Warrant or any share certificate relating to the Warrant Shares, and in case of loss, theft or
destruction, of indemnity or security reasonably satisfactory to it (which, in the case of the Warrant, shall not include the posting
of any bond), and upon surrender and cancellation of such Warrant or share certificate, if mutilated, the Company will make and deliver
a new Warrant or share certificate of like tenor and dated as of such cancellation, in lieu of such Warrant or share certificate.

 

c) Saturdays, Sundays, Holidays,
etc. If the last or appointed day for the taking of any action or the expiration of any right required or granted herein shall not
be a Business Day, then such action may be taken or such right may be exercised on the next succeeding Business Day.

 

d) Authorized Shares.

 

The Company covenants that, during
the period the Warrant is outstanding, it will reserve from its authorized and unissued Ordinary Shares a sufficient number of shares
to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights under this Warrant. The Company further covenants
that its issuance of this Warrant shall constitute full authority to its officers who are charged with the duty of issuing the necessary
Warrant Shares upon the exercise of the purchase rights under this Warrant. The Company will take all such reasonable action as may be
necessary to assure that such Warrant Shares may be issued as provided herein without violation of any applicable law or regulation, or
of any requirements of the Trading Market upon which the Ordinary Shares may be listed. The Company covenants that all Warrant Shares
which may be issued upon the exercise of the purchase rights represented by this Warrant will, upon exercise of the purchase rights represented
by this Warrant and payment for such Warrant Shares in accordance herewith, be duly authorized, validly issued, fully paid and nonassessable
and free from all taxes, liens and charges created by the Company in respect of the issue thereof (other than taxes in respect of any
transfer occurring contemporaneously with such issue).

 

Except and to the extent as waived
or consented to by the Holder, the Company shall not by any action, including, without limitation, amending its amended and restated memorandum
and articles of association or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities
or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will at all
times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary or appropriate
to protect the rights of Holder as set forth in this Warrant against impairment. Without limiting the generality of the foregoing, the
Company will (i) not increase the par value of any Warrant Shares above the amount payable therefor upon such exercise immediately
prior to such increase in par value, (ii) take all such action as may be necessary or appropriate in order that the Company may validly
and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant and (iii) use commercially reasonable
efforts to obtain all such authorizations, exemptions or consents from any public regulatory body having jurisdiction thereof, as may
be, necessary to enable the Company to perform its obligations under this Warrant.

 

    13

     

    

 

Before taking any action which would
result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or in the Exercise Price, the Company shall
obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary from any public regulatory body or bodies
having jurisdiction thereof.

 

e) Governing Law. All questions
concerning the construction, validity, enforcement and interpretation of this Warrant shall be governed by and construed and enforced
in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of law thereof. Each party
agrees that all legal proceedings concerning the interpretations, enforcement and defense of the transactions contemplated by this Warrant
(whether brought against a party hereto or their respective affiliates, directors, officers, shareholders, partners, members, employees
or agents) shall be commenced exclusively in the state and federal courts sitting in the City of New York. Each party hereby irrevocably
submits to the exclusive jurisdiction of the state and federal courts sitting in the City of New York, Borough of Manhattan for the adjudication
of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably
waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of
any such court, that such suit, action or proceeding is improper or is an inconvenient venue for such proceeding. Each party hereby irrevocably
waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof
via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices
to it under this Warrant 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. If either party
shall commence an action, suit or proceeding to enforce any provisions of this Warrant, the prevailing party in such action, suit or proceeding
shall be reimbursed by the other party for their reasonable attorneys’ fees and other costs and expenses incurred with the investigation,
preparation and prosecution of such action or proceeding. Notwithstanding the foregoing, nothing in this paragraph shall limit or restrict
the federal district court in which a Holder may bring a claim under the federal securities laws.

 

f) Restrictions. The Holder
acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered, and the Holder does not utilize cashless
exercise, will have restrictions upon resale imposed by state and federal securities laws.

 

g) Nonwaiver and Expenses.
No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate as a waiver of such right
or otherwise prejudice the Holder’s rights, powers or remedies. No provision of this Warrant shall be construed as a waiver by the
Holder of any rights which the Holder may have under the federal securities laws and the rules and regulations of the Commission thereunder.
Without limiting any other provision of this Warrant, if the Company willfully and knowingly fails to comply with any provision of this
Warrant, which results in any material damages to the Holder, the Company shall pay to the Holder such amounts as shall be sufficient
to cover any costs and expenses including, but not limited to, reasonable attorneys’ fees, including those of appellate proceedings,
incurred by the Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder.

 

    14

     

    

 

h) Notices. Any and all notices or other communications or deliveries
to be provided by the Holders hereunder including, without limitation, any Notice of Exercise, shall be in writing and delivered personally,
by facsimile or e-mail, or sent by a nationally recognized overnight courier service, addressed to the Company, at Room 102, Technology
Bldg., International e-Commerce Industrial Park, 105 Meihua Road, Futian, Shenzhen China, 518000, Attention: Chief Executive Officers,
facsimile number: [●], email address: [●], with a copy to Robinson & Cole LLP, Chrysler East Building, 666
Third Avenue, 20th Floor, New York, NY 10017, Attn: Arila Zhou, Esq.; Anna Wang, Esq. Email: azhou@rc.com; awang@rc.com, or such other
facsimile number, email address or address as the Company may specify for such purposes by notice to the Holders. Any and all notices
or other communications or deliveries to be provided by the Company hereunder shall be in writing and delivered personally, by facsimile
or e-mail, or sent by a nationally recognized overnight courier service addressed to each Holder at the facsimile number, e-mail address
or address of such Holder appearing on the books of the Company, with a copy to ArentFox Schiff, LLP, 1717 K Street, NW, Washington, DC
20006, Attn: Ralph De Martino, Esq., Email: ralph.demartino@afslaw.com. Any notice or other communication or deliveries hereunder shall
be deemed given and effective on the earliest of (i) the time of transmission, if such notice or communication is delivered via facsimile
at the facsimile number or via e-mail at the e-mail address set forth in this Section prior to 5:30 p.m. (New York City time) on any date,
(ii) the next Trading Day after the time of transmission, if such notice or communication is delivered via facsimile at the facsimile
number or via e-mail at the e-mail address set forth in this Section on a day that is not a Trading Day or later than 5:30 p.m. (New York
City time) on any Trading Day, (iii) the second Trading Day following the date of mailing, if sent by U.S. nationally recognized
overnight courier service, or (iv) upon actual receipt by the party to whom such notice is required to be given. To the extent that
any notice provided hereunder constitutes, or contains, material, non-public information regarding the Company or any Subsidiaries, the
Company shall simultaneously file such notice with the Commission pursuant to a Report on Form 8-K.

 

i) Limitation of Liability.
No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to purchase Warrant Shares, and no
enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder for the purchase price of
any Ordinary Shares or as a shareholder of the Company, whether such liability is asserted by the Company or by creditors of the Company.

 

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

 

k) Successors and Assigns.
Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure to the benefit of and
be binding upon the successors and permitted assigns of the Company and the successors and permitted assigns of Holder. The provisions
of this Warrant are intended to be for the benefit of any Holder from time to time of this Warrant and shall be enforceable by the Holder
or holder of Warrant Shares.

 

l) Amendment. This Warrant
may be modified or amended or the provisions hereof waived with the written consent of the Company, on the one hand, and the Holder, on
the other hand.

 

m) Severability. Wherever possible,
each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision
of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition
or invalidity, without invalidating the remainder of such provisions or the remaining provisions of this Warrant.

 

n) Headings. The headings used
in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of this Warrant.

 

********************

 

(Signature Page Follows)

 

    15

     

    

 

IN WITNESS WHEREOF, the Company has caused this
Warrant to be executed by its officer thereunto duly authorized as of the             
date of             , 20    .

 

	 	ICZOOM GROUP INC.
	 	 	 
	 	By:	 
	 	Name: 	Lei Xia
	 	Title:	Chief Executive Officer

 

     

     

    

 

ANNEX A 

NOTICE OF EXERCISE 

 

	TO:	ICZOOM GROUP INC. (the “Company”) 

 

(1) The undersigned hereby elects to purchase
             Warrant Shares of the Company pursuant to the terms of
the attached Warrant (only if exercised in full), and tenders herewith payment of the Exercise Price in full, together with all applicable
transfer taxes, if any.

 

(2) Payment shall take the form of (check applicable
box):

 

☐ in lawful money of the United States; or

 

☐ [if permitted the cancellation of such number
of Warrant Shares as is necessary, in accordance with the formula set forth in subsection 2(c), to exercise this Warrant with respect
to the maximum number of Warrant Shares purchasable pursuant to the cashless exercise procedure set forth in subsection 2(c).

 

(3) Please issue said Warrant Shares in the name
of the undersigned or in such other name as is specified below:

 

 

                       
                                         
    

 

The Warrant Shares shall be delivered to the following DWAC Account
Number:

 

 

                       
                                         
    

 

 

                       
                                         
    

 

 

                       
                                         
    

 

[SIGNATURE OF HOLDER]

 

Name of Investing Entity:

Signature of Authorized Signatory of Investing Entity:

Name of Authorized Signatory:

Title of Authorized Signatory:

Date:

 

     

     

    

 

ANNEX B 

ASSIGNMENT FORM 

 

(To assign the foregoing Warrant, execute this
form and supply required information. Do not use this form to purchase shares.)

 

FOR VALUE RECEIVED, the foregoing Warrant and
all rights evidenced thereby are hereby assigned to:

 

	 	 	 
	Name:	 	
 

	 	 	(Please Print)
	 	 
	Address:	 	
 

	 	 	(Please Print)
	 	 
	Phone Number:	 	
 

	 	 
	Email Address:	 	
 

	Dated:                              ,             	 	 

 

	 	 	 	 	 
	
    Holder’s

    Signature:
	 	
 

	 	 
	 	 	 
	
    Holder’s

    Address:
	 	
 

	 	 

 

	 	 	 
	(Signature Guaranteed):	 	Date:                                    ,             

 

Signature to be guaranteed by an authorized officer of a chartered
bank, trust company or medallion guaranteed by an investment dealer who is a member of a recognized stock exchange.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00348-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00348-of-00352.parquet"}]]