Document:

Exhibit
10.1

 

MESO
NUMISMATICS, INC.

433 PLAZA REAL SUITE 275

BOCA RATON, FLORIDA 3432

 

July
1st, 2019

 

Arkkosoft
Smart Solutions S.A.

Edificio
Centro Cars

Mata
Redonda

San
José, Costa Rica 10108

Attn:
Eva Maria Maklouf Coto, President

Attn:
Douglas Villalobos Viales, Secretary

 

Re.
Binding Letter of Intent

 

Dear
Mrs. Maklouf and Mr. Villalobos:

 

This
binding letter of intent (this “Letter of Intent”) sets forth the intention of the undersigned, Meso Numismatics, Inc.,
a Nevada corporation (“Meso”) and Arkkosoft Smart Solutions S.A. (Operating as Green Pay), a Costa Rica corporation
(“Green Pay”) to enter into a transaction whereby Meso will acquire 51% of the issued and outstanding common stock
of Green Pay (the “Transaction”), in accordance with and subject to the terms of a definitive stock purchase agreement
to be executed by the parties (the “Definitive Stock Purchase Agreement”). Each of Green Pay and Meso may hereinafter
be referred to as a “Party” or, collectively, the “Parties.”

 

		1.	Purpose
                                         and Transaction Summary. Meso, contingent upon a financing in the amount of approximately
                                         $1,000,000, wishes to acquire, pursuant to the Transaction, 51% of the issued and outstanding
                                         shares/membership units of Green Pay (the “Sale Shares”), for a purchase price
                                         of the amount of shares of Series BB Preferred Stock equal to approximately One Million
                                         Seven Hundred and Fifty Thousand United Stated Dollars ($1,750,000) (the “Purchase
                                         Price”). Pursuant to the terms of the Transaction, the Purchase Price will be paid
                                         to Green Pay in shares of Meso’s Preferred BB Stock (the “Purchase Shares”).
                                         There shall be an agreement between the Parties such that Green Pay (or its designees)
                                         shall be subject to a beneficial ownership limitation of Meso of 4.99% of the number
                                         of shares of common stock immediately after giving effect to the conversion of the Series
                                         BB Preferred Stock. At the closing of a Definitive Stock Purchase Agreement (the “Closing”),
                                         Green Pay will become a wholly owned subsidiary of Meso, consolidating its financial
                                         statements. Subsequently, for a consideration of approximately Two Hundred and Fifty
                                         Thousand United States Dollars ($250,000), Meso, contingent upon receiving financing
                                         in the amount of approximately $1,000,000, shall re-purchase from Green Pay approximately
                                         one half of the Purchase Shares, in one sixth increments. In connection with the Transaction,
                                         and as funds become available to it, Meso will purchase from Green Pay one half of the
                                         Purchase Shares, for a total consideration of approximately One Million United States
                                         Dollars $1,000,000). A method of determination as to the availability of such funds will
                                         be defined in the Definitive Stock Purchase Agreement.
	 	 	 
		2.	Definitive
                                         Agreement. Consummation of the Transaction as contemplated hereby will be subject
                                         to the negotiation and execution of a mutually satisfactory Definitive Stock Purchase
                                         Agreement by the Parties, setting forth the specific terms and conditions of the Transaction.
                                         The Closing is subject to the completion by Meso of a satisfactory review of the legal,
                                         financial and business condition of Green Pay.
	 	 	 
		3.	Conduct
                                         of Business. Prior to the execution of the Definitive Stock Purchase Agreement
                                         and the Closing, each of the Parties will conduct its operations in the ordinary course
                                         consistent with past practice.

 

     

     

    

 

		4.	Due
                                         Diligence; Confidentiality Agreement. Each party and its representatives, officers,
                                         employees and advisors, including accountants and legal advisors, as applicable, will
                                         provide the other party and its representatives, officers, employees and advisors, including
                                         accountants and legal advisors, as applicable, with all information, books, records and
                                         property (collectively, “Transaction Information”) that such other party reasonably
                                         considers necessary or appropriate in connection with its due diligence inquiry. Each
                                         of the parties will use its commercially reasonable efforts to maintain the confidentiality
                                         of the Transaction Information, unless all or part of the Transaction Information is
                                         required to be disclosed by applicable securities laws or to the extent that such disclosure
                                         is ordered by a court of competent jurisdiction.
	 	 	 
		5.	Termination.
                                         This letter of intent may be terminated (a) by mutual written consent of the parties
                                         hereto, (b) by either party (i) after 5:00 p.m. Eastern standard time on July 15th
                                         2019 (two weeks) (the “Termination Date”) Unless it has been duly executed
                                         by or on behalf of the Parties prior to such time.
	 	 	 
		6.	Expenses.
                                         The Parties will be responsible for their own expenses in connection with the Transaction,
                                         including fees and expenses of legal, accounting and financial advisors.
	 	 	 
		7.	Choice
                                         of Law. This Letter of Intent shall be governed by and construed in accordance with
                                         the internal substantive laws of the State of Florida, without regard to any principles
                                         of conflicts of law. Each of the Parties hereby irrevocably consents and agrees that
                                         any legal or equitable action or proceeding arising under or in connection with this
                                         Letter of Intent shall be brought in the federal or state courts located in the County
                                         of Palm Beach in the State of Florida, by execution and delivery of this Letter of Intent,
                                         irrevocably submits to and accepts the jurisdiction of said courts, (iii) waives any
                                         defense that such court is not a convenient forum, and (iv) consent to any service of
                                         process method permitted by law.
	 	 	 
		8.	Exclusivity.
                                         Until the earlier of the closing of the Transaction or termination of this Letter of
                                         Intent in accordance with its terms, the Sellers will not, and will not permit any of
                                         their representatives to, directly or indirectly, solicit, discuss, accept, approve,
                                         respond to or encourage (including by way of furnishing information) any inquiries or
                                         proposals relating to, or engage in any negotiations with any third party with respect
                                         to any transaction similar to the Transaction or any transaction involving the transfer
                                         of a significant or controlling interest in the capital stock of the Company, including,
                                         but not limited to, a merger, acquisition, strategic investment or similar transaction
                                         (“Acquisition Proposal”). Green Pay will immediately notify Meso in writing
                                         of the receipt of any third-party inquiry or proposal relating to an Acquisition Proposal
                                         and will provide Meso with copies of any such notice inquiry or proposal. Notwithstanding
                                         the foregoing, nothing in this Section 8 will be construed as prohibiting the board of
                                         directors of Meso from (a) making any disclosure required by applicable law to its shareholders;
                                         or (b) responding to any unsolicited proposal or inquiry to Meso (other than an Acquisition
                                         Proposal by a third party) by advising the person making such proposal or inquiry of
                                         the terms of this Section 8.
	 	 	 
		9.	Counterparts.
                                         This letter of intent may be executed in counterparts, each of which shall be deemed
                                         an original, but all of which together shall constitute one and the same instrument.
                                         Fax or PDF copies of signatures shall be treated as originals for all purposes.
	 	 	 
		10.	Effect.
                                         A Party shall not have any obligation to continue discussions or negotiations if such
                                         Party determines such termination is in the Party’s best interests. Accordingly, each
                                         Party may, in its sole discretion, abandon or terminate these discussions or any negotiations
                                         at any time or for any reason, without liability to the other Party for costs or expenses
                                         of any sort incurred by such other Party in pursuing the Transaction. Further, this Letter
                                         of Intent does not bind the Parties to consummate any transaction, either on the terms
                                         outlined herein or on any other terms. This Letter of Intent contains the entire agreement
                                         by and among the Parties to date with respect to the subject matter hereof and supersedes
                                         any and all prior agreements and understandings, oral or written, with respect to such
                                         matters.

 

    2

     

    

 

This Letter of Intent will terminate at 5:00 p.m. Eastern
standard time on July 15th 2019 (2 weeks) unless it has been duly executed by or on behalf on the Parties prior to such time.

 

	 	Very truly yours,
	 	 	 
	 	MESO NUMISMATICS, INC.
	 	 	 
	 	By:	 
	 	Name:	Melvin Pereira
	 	Title:	Chief Executive Officer

 

Agreed and acknowledged:

 

Arkkosoft Smart Solutions S.A.

Operating as Green Pay

 

	By:	 	 
	Name:	Eva Maria ILLEGIBLE Coto	 
	Title:	President	 

 

	By:	 	 
	Name:	Douglas Villalobos Viales	 
	Title:	Secretary	 

 

3Exhibit 10.1

 

EXCHANGE
AGREEMENT

 

EXCHANGE
AGREEMENT (the “Agreement”) is made as of the 11th day of July 2019, by and between Ecoark
Holdings, Inc., a Nevada corporation (the “Company”), and the investor signatory hereto (the “Investor”).

 

WHEREAS,
the Investor was issued certain warrants pursuant to (i) a securities purchase agreement entered into on March 14, 2018 (the “March
Purchase Agreement” and such warrants, the “March Warrants”) and (ii) a securities purchase
agreement entered into on August 9, 2018 (the “August Purchase Agreement” and such warrants, the “August
Warrants”, and the March Warrants and the August Warrants, collectively, the “Existing Securities”;

 

WHEREAS,
the Investor holds the Existing Securities of the Company set forth on the Investor’s signature page attached hereto;

 

WHEREAS,
subject to the terms and conditions set forth in this Agreement and in reliance on Section 3(a)(9) of the Securities Act of 1933,
as amended (the “Securities Act”), the Company desires to exchange with the Investor, and the Investor
desires to exchange with the Company, the Existing Securities for shares of Common Stock set forth on the Investor’s signature
page hereto (the “Shares” or the "Exchange Securities"); and

 

NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and in consideration
of the premises and the mutual agreements, representations and warranties, provisions and covenants contained herein, the parties
hereto, intending to be legally bound hereby, agree as follows:

 

1.
Exchange. On Closing Date (as defined below), subject to the terms and conditions of this Agreement, the Investor shall,
and the Company shall, pursuant to Section 3(a) (9) of the Securities Act, exchange the Existing Securities for the Exchange Securities.
Subject to the conditions set forth herein, the exchange of the Existing Securities for the Exchange Securities shall take place
at the offices of Ellenoff Grossman & Schole LLP, on July 11, 2019, or at such other time and place as the Company and the
Investor mutually agree (the “Closing” and such date, the “Closing Date”).
At the Closing, the following transactions shall occur (such transaction an “Exchange”):

 

1.1
On the Closing Date, in exchange for the Existing Securities, the Company shall deliver Exchange Securities to the Investor or
its designee in accordance with the Investor’s delivery instructions set forth on the Investor signature page hereto. Upon
receipt of the Exchange Securities in accordance with this Section 1.1, all of the Investor’s rights under the Existing
Securities shall be extinguished. The Investor shall tender to the Company the Existing Securities within three Trading Days (as
defined below) of the Closing Date.

 

1.2
On the Closing Date, the Investor shall be deemed for all corporate purposes to have become the holder of record of the Exchange
Securities, irrespective of the date such Exchange Securities are delivered to the Investor in accordance herewith. The Existing
Securities shall be deemed for all corporate purposes to have been cancelled upon receipt of the Exchange Securities in accordance
with Section 1.1 above. Until the Existing Securities have been delivered to the Company, the Investor shall bear the risk that
they are acquired by a bona fide purchaser with no notice of the Investor’s and the Company’s claims.

 

     

     

    

 

As
used herein, “Beneficial Ownership Limitation” means 4.99% of the number of shares of the Common Stock
outstanding immediately after giving effect to the issuance of the Shares hereunder.

 

As
used herein, “Common Stock” means the common stock of the Company, par value $0.001 per share, and any
other class of securities into which such securities may hereafter be reclassified or changed.

 

As
used herein, “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.

 

As
used herein, “Trading Day” means any day on which the Common Stock is traded on the principal securities
exchange or securities market on which the Common Stock is then traded.

 

1.3
The Company and the Investor shall execute and/or deliver such other documents and agreements as are customary and reasonably
necessary to effectuate the Exchanges, including, at the request of the Company or its transfer agent, executed stock powers in
customary form.

 

2.
Closing Conditions.

 

2.1
Conditions to Investor’s Obligations. The obligation of the Investor to consummate the Exchange is subject to the
fulfillment, to the Investor’s reasonable satisfaction, prior to or at the Closing, of each of the following conditions:

 

(a) Representations
and Warranties. The representations and warranties of the Company contained in this Agreement shall be true and correct
in all material respects on the date hereof and on and as of the Closing Date as if made on and as of such date.

 

(b) Issuance
of Shares. At the Closing, the Company shall cause the Shares to be delivered via The Depository Trust Company Deposit or
Withdrawal at Custodian system for the accounts of the Investor. In the event the issuance of the Shares would cause the
Investor’s beneficial ownership of the Common Stock to exceed the Beneficial Ownership Limitation, the Investor
shall be issued a pre-funded warrant in lieu of shares of Common Stock that would result in ownership in excess of the
Beneficial Ownership Limitation.

 

(c) No
Actions. No action, proceeding, investigation, regulation or legislation shall have been instituted, threatened or
proposed before any court, governmental agency or authority or legislative body to enjoin, restrain, prohibit or obtain
substantial damages in respect of, this Agreement or the consummation of the transactions contemplated by this
Agreement.

 

    2

     

    

 

(d)
Proceedings and Documents. All proceedings in connection with the transactions contemplated hereby and all documents and
instruments incident to such transactions shall be satisfactory in substance and form to the Investor, and the Investor shall
have received all such counterpart originals or certified or other copies of such documents as they may reasonably request.

 

(e) Consents. The Company shall have obtained all required consents, as set forth on Schedule 3.5.

 

2.2
Conditions to the Company’s Obligations. The obligation of the Company to consummate the Exchange is subject to the
fulfillment, to the Company’s reasonable satisfaction, prior to or at the Closing, of each of the following conditions:

 

(a) Representations and Warranties. The representations and warranties of the Investor contained in this Agreement shall be
true and correct in all material respects on the date hereof and on and as of the Closing Date as if made on and as of such date.

 

(b)
No Actions. No action, proceeding, investigation, regulation or legislation shall have been instituted, threatened or proposed
before any court, governmental agency or authority or legislative body to enjoin, restrain, prohibit, or obtain substantial damages
in respect of, this Agreement or the consummation of the transactions contemplated by this Agreement.

 

(c)
Proceedings and Documents. All proceedings in connection with the transactions contemplated hereby and all documents and
instruments incident to such transactions shall be satisfactory in substance and form to the Company and the Company shall have
received all such counterpart originals or certified or other copies of such documents as the Company may reasonably request.

 

3.
Representations and Warranties of the Company. The Company hereby represents and warrants to Investor that:

 

3.1
Organization, Good Standing and Qualification. The Company is a corporation duly organized, validly existing and in good
standing under the laws of the State of Nevada. The Company is duly qualified to transact business and is in good standing in
each jurisdiction in which the failure to so qualify would have a material adverse effect on its business or properties.

 

3.2
Authorization. All corporate action on the part of the Company, its officers, directors and stockholders necessary for
the authorization, execution and delivery of this Agreement and the performance of all obligations of the Company hereunder, and
the authorization (or reservation for issuance of), the Exchanges, and the issuance of the Exchange Securities, have been taken
on or prior to the date hereof.

 

3.3
Valid Issuance of the Shares. The Shares, when issued and delivered in accordance with the terms of this Agreement, for
the consideration expressed herein, will be duly and validly issued, fully paid and nonassessable.

 

    3

     

    

 

3.4
Compliance With Laws. The Company has not violated any law or any governmental regulation or requirement which violation
has had or would reasonably be expected to have a material adverse effect on its business and the Company has not received written
notice of any such violation.

 

3.5
Consents; Waivers. Other than as set forth on Schedule 3.5 attached hereto, no consent, waiver, approval or authority
of any nature, or other formal action, by any Person, not already obtained, is required in connection with the execution and delivery
of this Agreement by the Company or the consummation by the Company of the transactions provided for herein and therein.

 

3.6
Acknowledgment Regarding Investor’s Purchase of Securities. The Company acknowledges and agrees that the Investor
is acting solely in the capacity of arm’s length Investor with respect to this Agreement and the other documents entered
into in connection herewith (collectively, the “Transaction Documents”) and the transactions contemplated
hereby and thereby and that the Investor is not (i) an officer or director of the Company, (ii) an “affiliate” of
the Company (as defined in Rule 144 promulgated under the Securities Act), or (iii) to the knowledge of the Company, a “beneficial
owner” of more than 10% of the shares of Common Stock (as defined for purposes of Rule 13d-3 of the Securities Exchange
Act of 1934, as amended). The Company further acknowledges that the Investor is not acting as a financial advisor or fiduciary
of the Company (or in any similar capacity) with respect to the Transaction Documents and the transactions contemplated hereby
and thereby, and any advice given by the Investor or any of its representatives or agents in connection with the Transaction Documents
and the transactions contemplated hereby and thereby is merely incidental to the Investor’s acceptance of the Exchange Securities.
The Company further represents to the Investor that the Company’s decision to enter into the Transaction Documents has been
based solely on the independent evaluation by the Company and its representatives.

 

3.7
Absence of Litigation. There is no action, suit, proceeding, inquiry or investigation before or by any court, public board,
government agency, selfregulatory organization or body pending or, to the knowledge of the Company, threatened against or affecting
the Company, the Securities or any of the Company’s officers or directors in their capacities as such.

 

3.8
No Group. The Company represents to the Investor that it will be entering into one or more Securities Exchange Agreements
with other investors in substantially the form hereof, but the Company acknowledges that, to the Company’s knowledge, the
Investor is acting independently in connection with this Agreement and the transactions contemplated hereby, and is not acting
as part of a “group” as such term is defined under Section 13(d) of the Securities Act and the rules and regulations
promulgated thereunder.

 

    4

     

    

 

3.9
Validity; Enforcement; No Conflicts. This Agreement and each Transaction Document to which the Company is a party have
been duly and validly authorized, executed and delivered on behalf of the Company and shall constitute the legal, valid and binding
obligations of the Company enforceable against the Company in accordance with their respective terms, except as such enforceability
may be limited by general principles of equity or to applicable bankruptcy, insolvency, reorganization, moratorium, liquidation
and other similar laws relating to, or affecting generally, the enforcement of applicable creditors’ rights and remedies.
The execution, delivery and performance by the Company of this Agreement and each Transaction Document to which the Company is
a party and the consummation by the Company of the transactions contemplated hereby and thereby will not (i) result in a violation
of the organizational documents of the Company or (ii) conflict with, or constitute a default (or an event which with notice or
lapse of time or both would become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation
of, any agreement, indenture or instrument to which the Company is a party or by which it is bound, or (iii) result in a violation
of any law, rule, regulation, order, judgment or decree (including federal and state securities or “blue sky” laws)
applicable to the Company, except in the case of clause (ii) above, for such conflicts, defaults or rights which would not, individually
or in the aggregate, reasonably be expected to have a material adverse effect on the ability of the Company to perform its obligations
hereunder.

 

3.10
Disclosure. The Company confirms that neither it nor any other Person acting on its behalf has provided the Investor or
its agents or counsel with any information that constitutes or could reasonably be expected to constitute material, nonpublic
information. The Company understands and confirms that the Investor will rely on the foregoing representations in effecting transactions
in the Exchange Securities.

 

3.11
No Commission Paid. Neither the Company nor any of its affiliates nor any Person acting on behalf of or for the benefit
of any of the foregoing, has paid or given, or agreed to pay or give, directly or indirectly, any commission or other remuneration
(within the meaning of Section 3(a) (9) of the Securities Act and the rules and regulations of the Securities and Exchange Commission
promulgated thereunder) for soliciting the Exchange.

 

4.
Representations and Warranties of the Investor. The Investor hereby represents, warrants and covenants that:

 

4.1
Authorization. The Investor has full power and authority to enter into this Agreement, to perform its obligations hereunder
and to consummate the transactions contemplated hereby and has taken all action necessary to authorize the execution and delivery
of this Agreement, the performance of its obligations hereunder and the consummation of the transactions contemplated hereby.

 

4.2
Investment Experience. The Investor can bear the economic risk of its investment in the Securities, and has such knowledge
and experience in financial and business matters that it is capable of evaluating the merits and risks of an investment in the
Exchange Securities.

 

4.3
Information. The Investor and its advisors, if any, have been furnished with all materials relating to the business, finances
and operations of the Company and materials relating to the offer and issuance of the Exchange Securities which have been requested
by the Investor. The Investor has had the opportunity to review the Company's filings with the Securities and Exchange Commission.
The Investor and its advisors, if any, have been afforded the opportunity to ask questions of the Company. Neither such inquiries
nor any other due diligence investigations conducted by the Investor or its advisors, if any, or its representatives shall modify,
amend or affect the Investor’s right to rely on the Company’s representations and warranties contained herein. The
Investor understands that its investment in the Exchange Securities involves a high degree of risk. The Investor has sought such
accounting, legal and tax advice as it has considered necessary to make an informed investment decision with respect to its acquisition
of the Exchange Securities. The Investor is relying solely on its own accounting, legal and tax advisors, and not on any statements
of the Company or any of its agents or representatives, for such accounting, legal and tax advice with respect to its acquisition
of the Exchange Securities and the transactions contemplated by this Agreement.

 

    5

     

    

 

4.4
No Governmental Review. The Investor understands that no United States federal or state agency or any other government
or governmental agency has passed on or made any recommendation or endorsement of the Exchange Securities or the fairness or suitability
of the investment in the Shares nor have such authorities passed upon or endorsed the merits of the offering of the Exchange Securities.

 

4.5
Validity; Enforcement; No Conflicts. This Agreement and each Transaction Document to which the Investor is a party have
been duly and validly authorized, executed and delivered on behalf of the Investor and shall constitute the legal, valid and binding
obligations of the Investor enforceable against the Investor in accordance with their respective terms, except as such enforceability
may be limited by general principles of equity or to applicable bankruptcy, insolvency, reorganization, moratorium, liquidation
and other similar laws relating to, or affecting generally, the enforcement of applicable creditors’ rights and remedies.
The execution, delivery and performance by the Investor of this Agreement and each Transaction Document to which the Investor
is a party and the consummation by the Investor of the transactions contemplated hereby and thereby will not (i) result in a violation
of the organizational documents of the Investor or (ii) conflict with, or constitute a default (or an event which with notice
or lapse of time or both would become a default) under, or give to others any rights of termination, amendment, acceleration or
cancellation of, any agreement, indenture or instrument to which the Investor is a party, or (iii) result in a violation of any
law, rule, regulation, order, judgment or decree (including federal and state securities or “blue sky” laws) applicable
to the Investor, except in the case of clause (ii) above, for such conflicts, defaults or rights which would not, individually
or in the aggregate, reasonably be expected to have a material adverse effect on the ability of the Investor to perform its obligations
hereunder.

 

4.6
Bring-Down of Representations and Warranties. All legal and factual representations and warranties made by the Investor
to the Company in any prior agreements pursuant to which the Exchange Securities were originally issued are accurate and complete
in all material respects as of the date hereof, unless as of a specific date therein in which case they shall be accurate as of
such date (or, to the extent representations or warranties are qualified by materiality or Material Adverse Effect (as defined
in such agreements), in all respects).

 

    6

     

    

 

5.
Additional Covenants.

 

5.1
Disclosure. The Company shall, on or before 9:30 a.m., New York City time, on the first business day after the date of
this Agreement, issue a Current Report on Form 8-K (the “8-K Filing”) disclosing all material terms
of the transactions contemplated hereby. From and after the issuance of the 8-K Filing, the Investor shall not be in possession
of any material, nonpublic information received from the Company or any of its respective officers, directors, employees or agents
that is not disclosed in the 8-K Filing. The Company shall not, and shall cause its officers, directors, employees and agents,
not to, provide the Investor with any material, nonpublic information regarding the Company from and after the filing of the 8-K
Filing without the express written consent of the Investor. The Company shall not disclose the name of the Investor in any filing,
announcement, release or otherwise, unless such disclosure is required by law or regulation. In addition, effective upon the filing
of the 8-K Filing, the Company acknowledges and agrees that any and all confidentiality or similar obligations under any agreement,
whether written or oral, between the Company, any of its subsidiaries or any of their respective officers, directors, affiliates,
employees or agents, on the one hand, and the Investor or any of its affiliates, on the other hand, shall terminate.

 

5.2
Survival of Covenants. Sections 4.3, 4.4, 4.6, 4.8, 4.10 and 4.14 of the March Purchase Agreement and the August Purchase
Agreement shall survive and be incorporated by reference into this Agreement and the Shares issuable hereunder for all such purposes
be deemed “Shares” as used under March Purchase Agreement and the August Purchase Agreement as if the Shares were
issued pursuant to such agreement.

 

5.3
Fees and Expenses. Each party shall pay the fees and expenses of its advisers, counsel, accountants and other experts,
if any, and all other expenses incurred by such party incident to the negotiation, preparation, execution, delivery and performance
of this Agreement.

 

5.4
Section 3(a)(9) Exchange. The parties acknowledge and agree that in accordance with
Section 3(a)(9) of the Securities Act, the Shares shall take on the registered characteristics of the Exchange Securities being
exchanged.  The Company agrees not to take any position contrary to this Section 5.4.

 

6.
Miscellaneous.

 

6.1
Successors and Assigns. Except as otherwise provided herein, the terms and conditions of this Agreement shall inure to
the benefit of and be binding upon the parties hereto and the respective successors and assigns of the parties. Nothing in this
Agreement, express or implied, is intended to confer upon any party, other than the parties hereto or their respective successors
and assigns, any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided
in this Agreement.

 

    7

     

    

 

6.2
Governing Law; Jurisdiction; Jury Trial. All questions concerning the construction, validity, enforcement and interpretation
of this Agreement shall be governed by the internal laws of the State of New York, without giving effect to any choice of law
or conflict of law provision or rule (whether of the State of New York or any other jurisdictions) that would cause the application
of the laws of any jurisdictions other than the State of New York. Each party hereby irrevocably submits to the exclusive jurisdiction
of the state or 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 brought in an inconvenient forum or that the venue of such suit, action or
proceeding is improper. 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 to such party at the address for such notices to it under this
Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained
herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. EACH PARTY HEREBY IRREVOCABLY
WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION
WITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

6.3
Titles and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered
in construing or interpreting this Agreement.

 

6.4
Notices. Any notices, consents, waivers or other communications required or permitted to be given under the terms of this
Agreement must be in writing and will be deemed to have been delivered pursuant to the terms of the March Purchase Agreement and
the August Purchase Agreement.

 

6.5
Amendments and Waivers. Any term of this Agreement may be amended and the observance of any term of this Agreement may
be waived (either generally or in a particular instance and either retroactively or prospectively), only with the written consent
of the Company and the Investor. Any amendment or waiver effected in accordance with this paragraph shall be binding upon Investor
and the Company, provided that no such amendment shall be binding on a holder that does not consent thereto to the extent such
amendment treats such party differently than any party that does consent thereto.

 

6.6
Severability. If one or more provisions of this Agreement are held to be unenforceable under applicable law, such provision
shall be excluded from this Agreement and the balance of the Agreement shall be interpreted as if such provision were so excluded
and shall be enforceable in accordance with its terms.

 

6.7
Entire Agreement. This Agreement represents the entire agreement and understanding between the parties concerning the Exchange
and the other matters described herein and therein and supersede and replaces any and all prior agreements and understandings
solely with respect to the subject matter hereof and thereof.

 

6.8
Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but
all of which together shall constitute one and the same instrument.

 

6.9
Interpretation. Unless the context of this Agreement clearly requires otherwise, (a) references to the plural include the
singular, the singular the plural, the part the whole, (b) references to any gender include all genders, (c) “including”
has the inclusive meaning frequently identified with the phrase “but not limited to” and (d) references to “hereunder”
or “herein” relate to this Agreement.

 

    8

     

    

 

6.10
No Third Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective permitted
successors and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other Person.

 

6.11
Survival. The representations, warranties and covenants of the Company and the Investor contained herein shall survive
the Closing and delivery of the Exchange Securities.

 

6.12
Further Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and things,
and shall execute and deliver all such other agreements, certificates, instruments and documents, as any other party may reasonably
request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions
contemplated hereby.

 

6.13
No Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to
express their mutual intent, and no rules of strict construction will be applied against any party.

 

[SIGNATURES
ON THE FOLLOWING PAGES]

 

    9

     

    

 

IN
WITNESS WHEREOF, the parties have caused this Agreement to be duly executed and delivered as of the date provided above.

 

	 	THE
    COMPANY
	 	 	 
	 	ECOARK
    HOLDINGS, INC.
	 	 	 
	 	By:	              
	 	Name:
    	 
	 	Title:	 

 

    10

     

    

 

IN
WITNESS WHEREOF, the parties have caused this Agreement to be duly executed and delivered as of the date provided above.

 

INVESTOR

 

Name
of Investor: ________________________________________________________

 

Signature
of Authorized Signatory of Investor: __________________________________

 

Name
of Authorized Signatory: ____________________________________________________

 

Title
of Authorized Signatory: _____________________________________________________

 

Email
Address of Authorized Signatory: _____________________________________________

 

DWAC
Instructions for Delivery of Shares to Investor:___________________________________________

 

    11

     

    

 

Exhibit
A

 

		 	Number of Warrants	 
	Existing Securities:	 	 	 
	Empery Asset Master, Ltd.	 	 	 	 
	March Warrants	 	 	601,023	 
	August Warrants	 	 	807,320	 
	 	 	 	 	 
		 	 	Number of Shares	 
	Exchange Securities:	 	 	 	 
	Empery Asset Master, Ltd.	 	 	 	 
	Shares	 	 	1,102,164	 

 

 

12

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