Document:

Exhibit 10.1

 

August 6, 2021

 

Securities Purchase Agreement (the “Purchase
Agreement”) dated as of April 9, 2021 entered into by and between Powerbridge Technologies Co., Ltd. (the “Company”),
and YA II PN, Ltd. (the “Buyer”).

 

Reference is made to the Purchase Agreement. Capitalized
terms not otherwise defined herein shall have the meanings ascribed to them in the Purchase Agreement.

 

This Closing Statement shall constitute the agreement
between the Company and the Buyer regarding the payment and disbursement of the purchase price to be paid by the Buyer to the Company
at the Second Closing under the Purchase Agreement for the second Convertible Note (the “Second Note”) with an original
face value of $2.0 million. The Company hereby confirms to the Buyer that the wire instructions set forth on Exhibit “A” are
true and correct and that the Buyer is entitled to rely upon such wire instructions without recourse to the Buyer or any obligation to
verify or confirm the accuracy of such wire instructions.

 

Subsequent to the parties entering into the Purchase
Agreement, the Company determined that it was no longer eligible to register the Second Note, the Conversion Shares, the Warrant and the
Warrants Shares on its effective registration statement on Form F-3 (File no. 333-253395), which was a condition to the Buyer’s
obligation to purchase the Second Note at the Second Closing.

 

Notwithstanding the foregoing and any contrary
terms set forth in the Purchase Agreement, the Company and the Buyer hereby agree as follows:

 

		1.	The parties agree that the Subscription Amount is hereby increased from $7.0 million to $8.0 million.

 

		2.	The principal amount of the Second Note is hereby reduced from $3.0 million to $2.0 million.

 

		3.	The number of Ordinary Shares to be issued pursuant to the Warrant shall be increased from 571,429 to 653,061.

 

		4.	Promptly after the SEC declares effective the registration statement described in the Registration Rights
Agreement (the “RRA”) of even date between the parties hereto, the Company shall sell to the Buyer, and the Buyer shall
purchase from the Company, a third Convertible Note (the “Third Note”) in the original principal amount of $2.0 million.
The terms of the Third Note shall be identical to the terms of the Second Note, including, without limitation, the purchase price, interest
rate, maturity date and so forth. The definition of Conversion Shares in the Purchase Agreement shall be deemed to include Ordinary Shares
underlying the Third Note.

 

		5.	The closing condition set forth in Section 7(d) of the Purchase Agreement is true and correct as of the date hereof.

 

     

     

    

 

		6.	The Company represents and warrants that no default or event of default has occurred under the Purchase Agreement or any Transaction
Documents.

 

		7.	The Buyer hereby waives the closing conditions set forth in Section 7(n)(iv) and (v) of the Purchase Agreement in consideration
for the Company entering into RRA pursuant to which the Company agrees, among other things, to file a resale registration statement with
respect to the Conversion Shares and Warrant Shares to be issued by the Company to the Buyer upon conversion of the Second Note or the
Third Note or the exercise of the Warrant.

 

		8.	The Company’s obligations under Section 4(i) of the Purchase Agreement shall only apply to the initial
Convertible Note dated on or about April 9, 2021 in the original principal amount of $4.0 million. Among other things, the Company’s
obligations to register and maintain the registration of the Conversion Shares of the Second Note, the Third Note and the Warrant shall
be set forth in the RRA.

 

		9.	The Company and Transhare Corp. (the “TA”), the Company’s transfer agent, entered
into a letter agreement (the “LA”) dated as of July 19, 2021 pursuant to which the TA agreed to issue shares to the
Buyer upon the Buyer’s conversion of the Convertible Notes, all on the terms more particularly set forth in the LA. The Buyer is
a third party beneficiary of the LA.

 

		10.	On the date hereof, the Company is issuing to the Buyer the Warrant in accordance with the terms of the Purchase Agreement.

 

		11.	The Company and the Buyer hereby agree that the Floor Price in the Second Note and the Third Note shall
be $1.00 per share, as may be subsequently adjusted pursuant to the terms of the Purchase Agreement.

 

		12.	All provisions of the Purchase Agreement, except as modified by this Closing Statement, shall remain in
full force and effect and all such provisions shall apply to the third Note as if the purchase and sale of the third Note was originally
set forth in the Purchase Agreement.

 

	Face Value of Note:	 	$	2,000,000.00	 
	Original Issue Discount	 	$	60,000.00	 
	Purchase Price (97% of Face Value of Note):	 	$	1,940,000.00	 

 

The applicable wire instructions are attached hereto.

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

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IN WITNESS WHEREOF
each of the Company and the Investor has caused their respective signature page to this agreement to be duly executed as of the date first
written above.

 

	 	COMPANY:

	 	 
	 	POWERBRIDGE TECHNOLOGIES CO., LTD.

	 	 	 
	 	By:	/s/ Stewart Lor
	 	Name: 	STEWART LOR
	 	Title:	CO-CEO, CFO

 

	 	BUYER:
	 	 	 
	 	YA II PN, LTD.
	 	 
	 	By:	Yorkville Advisors Global LP
	 	Its:	Investment Manager
	 	 	 
	 	 	By: 	Yorkville Advisors Global LLC
	 	 	Its:	General Partner
	 	 	 
	 	By:	/s/ Mark Angelo
	 	Name: 	Mark Angelo
	 	Title:	Member

 

     

     

    

 

EXHIBIT “A”

 

Wiring Instructions

 

	Powerbridge Technologies Co Ltd.	 	$	1,940,000.00	 

 

	Bank Name:	SILICON VALLEY BANK
	Bank Address:	3003 Tasman Dr
	 	Santa Clara, CA 95054
	ABA Number:	121140399
	SWIFT:	SVBKUS6S
	Account Number:	3302524245
	Beneficiary Name:	POWERBRIDGE TECHNOLOGIES CO., LTD.Exhibit 10.2

 

REGISTRATION RIGHTS AGREEMENT

 

THIS REGISTRATION RIGHTS
AGREEMENT (this “Agreement”), dated as of August 6, 2021, by and between POWERBRIDGE TECHNOLOGIES CO., LTD.,
a Cayman Islands exempted company (the “Company”), and YA II PN, LTD., a Cayman Islands exempt limited partnership
(the “Investor”).

 

WHEREAS:

 

A. In
connection with the Securities Purchase Agreement (the “Securities Purchase Agreement”) dated as of April 9, 2021,
as amended by that Closing Statement (the “Closing Statement”) of even date herewith, in each case between the Company
and the Investor, the Company has agreed, upon the terms and subject to the conditions of the Securities Purchase Agreement and the Closing
Statement, to issue and sell to the Investor two Convertible Notes (the “Notes”), each of which shall be convertible
into shares of the Company’s ordinary shares, par value $0.00166667 per share (the “Ordinary Shares”) (as converted,
the “Conversion Shares”) and warrants (the “Warrants”) to purchase up to 653,061 Ordinary Shares
(as exercised, the “Warrant Shares”). Capitalized terms not defined herein shall have the meaning ascribed to them
in the Securities Purchase Agreement.

 

B. To
induce the Investor to purchase the Notes, the Company has agreed to provide certain registration rights under the Securities Act of 1933,
as amended, and the rules and regulations thereunder, or any similar successor statute (collectively, the “Securities Act”),
and applicable state securities laws and other rights as provided for herein.

 

NOW, THEREFORE, in
consideration of the premises and the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the Company and the Investors hereby agree as follows:

 

 1. DEFINITIONS.

 

As used in this Agreement, the following terms
shall have the following meanings:

 

(a) “Effectiveness
Deadline” means, with respect to a Registration Statement filed hereunder, the 60th calendar day following the Filing
Deadline, provided, however, in the event the Company is notified by the U.S. Securities and Exchange Commission
(“SEC”) that one of the Registration Statements, as defined below, will not be reviewed or is no longer subject
to further review and comments, the Effectiveness Deadline as to such Registration Statement shall be the fifth calendar day
following the date on which the Company is so notified if such date precedes the date required above. The Company shall be obliged
to effect no more than two (2) registration statements pursuant to this Section 2(a).

 

(b) “Filing
Deadline” means, with respect to a Registration Statement required hereunder, the earlier of (i) sixty (60) calendar days following
the date hereof or (ii) ten (10) calendar days after the SEC publishes guidance related to the filing of registration statements by issuers,
such as the Company, based in China.

 

     

     

    

 

(c) “Person”
means a corporation, a limited liability company, an association, a partnership, an organization, a business, an individual, a governmental
or political subdivision thereof or a governmental agency.

 

(d) “Prospectus”
means the prospectus included in a Registration Statement (including, without limitation, a prospectus that includes any information previously
omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A promulgated under the Securities
Act), as amended or supplemented by any prospectus supplement, with respect to the terms of the offering of any portion of the Registrable
Securities covered by a Registration Statement, and all other amendments and supplements to the Prospectus, including post-effective amendments,
and all material incorporated by reference or deemed to be incorporated by reference in such Prospectus.

 

(e) “Registrable
Securities” means all of (i) the Conversion Shares issuable upon conversion of the Notes, (ii) the Warrant Shares issuable upon
exercise of the Warrant, (iii) any additional shares issuable in connection with any anti-dilution provisions of the Notes or the Warrant
(without giving effect to any limitations on exercise set forth in the Notes or the Warrant, as applicable) and (iv) any Ordinary Shares
issued or issuable with respect to the Conversion Shares or the Warrant Shares as a result of any stock split, dividend or other distribution,
recapitalization or similar event or otherwise (in each case without giving effect to any limitations on exercise set forth in the Notes
or the Warrant, as applicable).

 

(f) “Registration
Statement” means the registration statements required to be filed hereunder (including any additional registration statements
contemplated by Section 2(c)), including (in each case) the Prospectus, amendments and supplements to such registration statement or Prospectus,
including pre- and post-effective amendments, all exhibits thereto, and all material incorporated by reference or deemed to be incorporated
by reference in such registration statement.

 

(g) “Required
Registration Amount” means (i) with respect to the initial Registration Statement at least 7,000,000 Ordinary Shares issued
or to be issued upon conversion of the Notes and 653,061 Warrant Shares issued or to be issued upon exercise of the Warrants, and (ii)
with respect to subsequent Registration Statements at least such number of Ordinary Shares as shall equal the maximum number of Ordinary
Shares issuable upon conversion of the Notes then outstanding (assuming for purposes hereof that (x) such Notes are convertible at the
Floor Price in effect as of the date of determination, and (y) any such conversion shall not take into account any limitations on the
conversion of the Notes set forth therein), in each case subject to any cutback set forth in Section 2(d).

 

(h) “Rule
415” means Rule 415 promulgated by the SEC pursuant to the Securities Act, as such Rule may be amended from time to time, or
any similar rule or regulation hereafter adopted by the SEC having substantially the same purpose and effect as such Rule.

 

 2. REGISTRATION.

 

(a) The
Company’s registration obligations set forth in this Section 2 including its obligations to file Registration Statements,
obtain effectiveness of Registration Statements, and maintain the continuous effectiveness of Registration Statement that have been
declared effective shall begin on the date hereof and continue until all the Registrable Securities have been sold or may
permanently be sold without any restrictions pursuant to Rule 144, as determined by the counsel to the Company pursuant to a written
opinion letter to such effect, addressed and acceptable to the Company’s transfer agent and the affected Holders (the
“Registration Period”).

 

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(b) Subject
to the terms and conditions of this Agreement, the Company shall, on or prior to the Filing Deadline, prepare and file with the SEC a
Registration Statement on Form F-1 (or such form as the Company shall then be eligible to use in accordance with the rules and regulations
promulgated by the SEC) covering the resale by the Investor of Registrable Securities. Each Registration Statement prepared pursuant hereto
shall register for resale at least the number of Ordinary Shares equal to the Required Registration Amount as of date the Registration
Statement is initially filed with the SEC. The Company shall use its best efforts to have each Registration Statement declared effective
by the SEC as soon as practicable, but in no event later than the Effectiveness Deadline. By 9:30 am on the second business day following
the date of effectiveness, the Company shall file with the SEC in accordance with Rule 424 under the 1933 Act the final Prospectus to
be used in connection with sales pursuant to such Registration Statement. Prior to the filing of the Registration Statement with the SEC,
the Company shall furnish a draft of the Registration Statement to the Investor for their review and comment. The Investor shall furnish
comments on the Registration Statement to the Company within twenty-four (24) hours of the receipt thereof from the Company.

 

(c) During the
Registration Period, the Company shall (i) promptly prepare and file with the SEC such amendments (including post-effective
amendments) and supplements to a Registration Statement and the Prospectus used in connection with a Registration Statement, which
Prospectus is to be filed pursuant to Rule 424 promulgated under the Securities Act, as may be necessary to keep such Registration
Statement effective at all times during the Registration Period, (ii) prepare and file with the SEC additional Registration
Statements in order to register for resale under the Securities Act all of the Registrable Securities; (iii) cause the related
Prospectus to be amended or supplemented by any required Prospectus supplement (subject to the terms of this Agreement), and as so
supplemented or amended to be filed pursuant to Rule 424; (iv) respond as promptly as reasonably possible to any comments received
from the SEC with respect to a Registration Statement or any amendment thereto and as promptly as reasonably possible provide the
Investors true and complete copies of all correspondence from and to the SEC relating to a Registration Statement (provided that the
Company may excise any information contained therein which would constitute material non-public information as to any Investor which
has not executed a confidentiality agreement with the Company); and (v) comply with the provisions of the Securities Act with
respect to the disposition of all Registrable Securities of the Company covered by such Registration Statement until such time as
all of such Registrable Securities shall have been disposed of in accordance with the intended methods of disposition by the seller
or sellers thereof as set forth in such Registration Statement. In the case of amendments and supplements to a Registration
Statement which are required to be filed pursuant to this Agreement (including pursuant to this Section 2(c)) by reason of the
Company’s filing a report on Form 20-F or Form 6-K or any analogous report under the Securities Exchange Act of 1934, as
amended (the “Exchange Act”), the Company shall incorporate such report by reference into the Registration
Statement, if applicable, or shall file such amendments or supplements with the SEC on the same day on which the Exchange Act report
is filed which created the requirement for the Company to amend or supplement the Registration Statement.

 

(d) Reduction
of Registrable Securities Included in a Registration Statement. Notwithstanding anything contained herein, in the event that the SEC
requires the Company to reduce the number of Registrable Securities to be included in a Registration Statement in order to allow the Company
to rely on Rule 415 with respect to a Registration Statement, then the Company shall be obligated to include in such Registration Statement
(which may be a subsequent Registration Statement if the Company needs to withdraw a Registration Statement and refile a new Registration
Statement in order to rely on Rule 415) only such limited portion of the Registrable Securities as the SEC shall permit. Any Registrable
Securities that are excluded in accordance with the foregoing terms are hereinafter referred to as “Cut Back Securities.”
To the extent Cut Back Securities exist, as soon as may be permitted by the SEC, the Company shall be required to file a Registration
Statement covering the resale of the Cut Back Securities (subject also to the terms of this Section) and shall use best efforts to cause
such Registration Statement to be declared effective as promptly as practicable thereafter.

 

(e) Failure to
File or Obtain Effectiveness of the Registration Statement or Remain Current. If: (i) a Registration Statement is not filed on
or prior to its Filing Date, or (ii) a Registration Statement is not declared effective on or prior to Effectiveness Deadline or the
Company fails to file with the SEC a request for acceleration in accordance with Rule 461 promulgated under the Securities Act,
within five (5) Trading Days of the date that the Company is notified (orally or in writing, whichever is earlier) by the SEC that a
Registration Statement will not be “reviewed,” or not subject to further review, or (iii) after the effectiveness, a
Registration Statement ceases for any reason to remain continuously effective as to all Registrable Securities, except for Cut Back
Securities, for which it is required to be effective, or the Holders are otherwise not permitted to utilize the Prospectus therein
to resell such Registrable Securities for more than 30 consecutive calendar days or more than an aggregate of 40 calendar days
during any 12-month period (which need not be consecutive calendar days), or (iv) if after the six month anniversary of the
date hereof, the Company does not have available adequate current public information as set forth in Rule 144(c) (any such failure
or breach being referred to as an “Event”), then in addition to any other rights the holders of the Notes may
have hereunder or under applicable law, the Company shall be in breach of the term and conditions of this Agreement and such Event
shall be deemed an event of default under the Notes.

 

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 3. RELATED OBLIGATIONS.

 

(a) The Company shall,
not less than three (3) Trading Days prior to the filing of each Registration Statement and not less than one (1) Trading Day prior to
the filing of any related amendments and supplements to all Registration Statements (except for annual reports on Form 20-F or periodic
reports on Form 6-K), furnish to each Investor copies of all such documents proposed to be filed, which documents (other than those incorporated
or deemed to be incorporated by reference) will be subject to the reasonable and prompt review of such Investors, The Company shall not
file a Registration Statement or any such Prospectus or any amendments or supplements thereto to which the Investors shall reasonably
object in good faith; provided that, the Company is notified of such objection in writing no later than two (2) Trading Days after
the Investors have been so furnished copies of a Registration Statement.

 

(b) The
Company shall furnish to each Investor whose Registrable Securities are included in any Registration Statement, without charge, (i) at
least one (1) copy of such Registration Statement as declared effective by the SEC and any amendment(s) thereto, including financial statements
and schedules, all documents incorporated therein by reference, all exhibits and each preliminary prospectus, (ii) ten (10) copies of
the final prospectus included in such Registration Statement and all amendments and supplements thereto (or such other number of copies
as such Investor may reasonably request) and (iii) such other documents, which are not publicly available through EDGAR, as such Investor
may reasonably request from time to time in order to facilitate the disposition of the Registrable Securities owned by such Investor.

 

(c) The Company shall
use its best efforts to (i) register and qualify the Registrable Securities covered by a Registration Statement under such other
securities or “blue sky” laws of such jurisdictions in the United States as any Investor reasonably requests,
(ii) prepare and file in those jurisdictions, such amendments (including post-effective amendments) and supplements to such
registrations and qualifications as may be necessary to maintain the effectiveness thereof during the Registration Period, (iii)
take such other actions as may be necessary to maintain such registrations and qualifications in effect at all times during the
Registration Period, and (iv) take all other actions reasonably necessary or advisable to qualify the Registrable Securities for
sale in such jurisdictions; provided, however, that the Company shall not be required in connection therewith or as a condition
thereto to (w) make any change to its articles of incorporation or by-laws, (x) qualify to do business in any jurisdiction where it
would not otherwise be required to qualify but for this Section 3(c), (y) subject itself to general taxation in any such
jurisdiction, or (z) file a general consent to service of process in any such jurisdiction. The Company shall promptly notify each
Investor who holds Registrable Securities of the receipt by the Company of any notification with respect to the suspension of the
registration or qualification of any of the Registrable Securities for sale under the securities or “blue sky” laws of
any jurisdiction in the United States or its receipt of actual notice of the initiation or threat of any proceeding for such
purpose.

 

(d) As promptly as
practicable after becoming aware of such event or development, the Company shall notify each Investor in writing of the happening of
any event as a result of which the Prospectus included in a Registration Statement, as then in effect, includes an untrue statement
of a material fact or omission to state a material fact required to be stated therein or necessary to make the statements therein,
in light of the circumstances under which they were made, not misleading (provided that in no event shall such notice contain any
material, nonpublic information), and promptly prepare a supplement or amendment to such Registration Statement to correct such
untrue statement or omission, and deliver ten (10) copies of such supplement or amendment to each Investor. The Company shall also
promptly notify each Investor in writing (i) when a Prospectus or any Prospectus supplement or post-effective amendment has been
filed, and when a Registration Statement or any post-effective amendment has become effective (notification of such effectiveness
shall be delivered to each Investor by facsimile on the same day of such effectiveness), (ii) of any request by the SEC for
amendments or supplements to a Registration Statement or related prospectus or related information, and (iii) of the
Company’s reasonable determination that a post-effective amendment to a Registration Statement would be appropriate.

 

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(e) The
Company shall use its best efforts to prevent the issuance of any stop order or other suspension of effectiveness of a Registration Statement,
or the suspension of the qualification of any of the Registrable Securities for sale in any jurisdiction within the United States of America
and, if such an order or suspension is issued, to obtain the withdrawal of such order or suspension at the earliest possible moment and
to notify each Investor who holds Registrable Securities being sold of the issuance of such order and the resolution thereof or its receipt
of actual notice of the initiation or threat of any proceeding for such purpose.

 

 (f) [Reserved]

 

(g) If,
after the execution of this Agreement, an Investor believes, after consultation with its legal counsel, that it could reasonably be deemed
to be an underwriter of Registrable Securities, at the request of any Investor, the Company shall make available for inspection by (i)
any Investor and (ii) one (1) firm of accountants or other agents retained by the Investors (collectively, the “Inspectors”)
all pertinent financial and other records, and pertinent corporate documents and properties of the Company (collectively, the “Records”),
as shall be reasonably deemed necessary by each Inspector, and cause the Company’s officers, directors and employees to supply all
information which any Inspector may reasonably request; provided, however, that each Inspector shall agree, and each Investor hereby agrees,
to hold in strict confidence and shall not make any disclosure (except to an Investor) or use any Record or other information which the
Company determines in good faith to be confidential, and of which determination the Inspectors are so notified, unless (a) the disclosure
of such Records is necessary to avoid or correct a misstatement or omission in any Registration Statement or is otherwise required under
the Securities Act, (b) the release of such Records is ordered pursuant to a final, non-appealable subpoena or order from a court or government
body of competent jurisdiction, or (c) the information in such Records has been made generally available to the public other than by disclosure
in violation of this or any other agreement of which the Inspector and the Investor has knowledge. Each Investor agrees that it shall,
upon learning that disclosure of such Records is sought in or by a court or governmental body of competent jurisdiction or through other
means, give prompt notice to the Company and allow the Company, at its expense, to undertake appropriate action to prevent disclosure
of, or to obtain a protective order for, the Records deemed confidential.

 

(h) The Company shall
hold in confidence and not make any disclosure of information concerning the Investor provided to the Company unless (i) disclosure of
such information is necessary to comply with federal or state securities laws, (ii) the disclosure of such information is necessary to
avoid or correct a misstatement or omission in any Registration Statement, (iii) the release of such information is ordered pursuant
to a subpoena or other final, non-appealable order from a court or governmental body of competent jurisdiction, or (iv) such information
has been made generally available to the public other than by disclosure in violation of this Agreement or any other agreement. The Company
agrees that it shall, upon learning that disclosure of such information concerning an Investor is sought in or by a court or governmental
body of competent jurisdiction or through other means, give prompt written notice to such Investor and allow such Investor, at the Investor’s
expense, to undertake appropriate action to prevent disclosure of, or to obtain a protective order for, such information.

 

(i) The
Company shall either cause all the Registrable Securities covered by a Registration Statement (i) to be listed on each securities exchange
on which securities of the same class or series issued by the Company are then listed, if any, if the listing of such Registrable Securities
is then permitted under the rules of such exchange or (ii) to be included for quotation on the Nasdaq Capital Markets for such Registrable
Securities. The Company shall pay all fees and expenses in connection with satisfying its obligation under this Section 3(i).

 

(j) The
Company shall cooperate with each Investor who holds Registrable Securities being offered and, to the extent applicable, to facilitate
the timely preparation and delivery of certificates (not bearing any restrictive legend) representing the Registrable Securities to be
offered pursuant to a Registration Statement and enable such certificates to be in such denominations or amounts, as the case may be,
as the Investors may reasonably request and registered in such names as the Investors may request.

 

(k) The
Company shall use its best efforts to cause the Registrable Securities covered by the applicable Registration Statement to be registered
with or approved by such other governmental agencies or authorities as may be necessary to consummate the disposition of such Registrable
Securities.

 

(l) The
Company shall otherwise use its best efforts to comply with all applicable rules and regulations of the SEC in connection with any registration
hereunder.

 

(m) Within
two (2) business days after a Registration Statement which covers Registrable Securities is declared effective by the SEC, the Company
shall deliver, and shall cause legal counsel for the Company to deliver, to the transfer agent for such Registrable Securities (with copies
to the Investor whose Registrable Securities are included in such Registration Statement) confirmation that such Registration Statement
has been declared effective by the SEC in the form attached hereto as Exhibit A.

 

(n) The
Company shall take all other reasonable actions necessary to expedite and facilitate disposition by each Investor of Registrable Securities
pursuant to a Registration Statement.

 

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 4. OBLIGATIONS OF THE INVESTORS.

 

(a) The Investor agrees
that, upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3(d) such Investor will
immediately discontinue disposition of Registrable Securities pursuant to any Registration Statement covering such Registrable Securities
until the Investor’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3(d) or receipt of
notice that no supplement or amendment is required. Notwithstanding anything to the contrary, the Company shall cause its transfer agent
to deliver unlegended certificates for Ordinary Shares to a transferee of an Investor in accordance with the terms of the Securities
Purchase Agreement in connection with any sale of Registrable Securities with respect to which an Investor has entered into a contract
for sale prior to the Investor’s receipt of a notice from the Company of the happening of any event of the kind described in Section
3(d) and for which the Investor has not yet settled.

 

(b) The
Investor covenants and agrees that it will comply with the prospectus delivery requirements of the Securities Act as applicable to it
or an exemption therefrom in connection with sales of Registrable Securities pursuant to the Registration Statement.

 

 5. EXPENSES OF REGISTRATION.

 

All expenses incurred in connection
with registrations, filings or qualifications pursuant to Sections 2 and 3, including, without limitation, all registration, listing and
qualifications fees, printers, legal and accounting fees, except legal fees of Investor’s counsel associated with the review of
the Registration Statement and any comment letters issued by the SEC relating to such Registration Statement, shall be paid by the Company.

 

 6. INDEMNIFICATION.

 

With respect to Registrable Securities which are
included in a Registration Statement under this Agreement:

 

(a) To the fullest extent
permitted by law, the Company will, and hereby does, indemnify, hold harmless and defend the Investor, the directors, officers, partners,
employees, agents, representatives of, and each Person, if any, who controls any Investor within the meaning of the Securities Act or
the Exchange Act (each, an “Indemnified Person”), against any losses, claims, damages, liabilities, judgments, fines,
penalties, charges, costs, reasonable attorneys’ fees, amounts paid in settlement or expenses, joint or several (collectively,
“Claims”) incurred in investigating, preparing or defending any action, claim, suit, inquiry, proceeding, investigation
or appeal taken from the foregoing by or before any court or governmental, administrative or other regulatory agency, body or the SEC,
whether pending or threatened, whether or not an indemnified party is or may be a party thereto (“Indemnified Damages”),
to which any of them may become subject insofar as such Claims (or actions or proceedings, whether commenced or threatened, in respect
thereof) arise out of or are based upon: (i) any untrue statement or alleged untrue statement of a material fact in a Registration Statement
or any post-effective amendment thereto or in any filing made in connection with the qualification of the offering under the securities
or other “blue sky” laws of any jurisdiction in which Registrable Securities are offered (“Blue Sky Filing”),
or the omission or alleged omission to state a material fact required to be stated therein or necessary to make the statements therein
not misleading; (ii) any untrue statement or alleged untrue statement of a material fact contained in any final prospectus (as amended
or supplemented, if the Company files any amendment thereof or supplement thereto with the SEC) or the omission or alleged omission to
state therein any material fact necessary to make the statements made therein, in light of the circumstances under which the statements
therein were made, not misleading; or (iii) any violation or alleged violation by the Company of the Securities Act, the Exchange Act,
any other law, including, without limitation, any state securities law, or any rule or regulation there under relating to the offer or
sale of the Registrable Securities pursuant to a Registration Statement (the matters in the foregoing clauses (i) through (iii) being,
collectively, “Violations”). The Company shall reimburse the Investors and each such controlling person promptly as
such expenses are incurred and are due and payable, for any legal fees or disbursements or other reasonable expenses incurred by them
in connection with investigating or defending any such Claim. Notwithstanding anything to the contrary contained herein, the indemnification
agreement contained in this Section 6(a): (x) shall not apply to a Claim by an Indemnified Person arising out of or based upon a Violation
which occurs in reliance upon and in conformity with information furnished in writing to the Company by such Indemnified Person expressly
for use in connection with the preparation of the Registration Statement or any such amendment thereof or supplement thereto; (y) shall
not be available to the extent such Claim is based on a failure of the Investor to deliver or to cause to be delivered the prospectus
made available by the Company, if such prospectus was timely made available by the Company pursuant to Section 3(c); and (z) shall not
apply to amounts paid in settlement of any Claim if such settlement is effected without the prior written consent of the Company, which
consent shall not be unreasonably withheld. Such indemnity shall remain in full force and effect regardless of any investigation made
by or on behalf of the Indemnified Person.

 

    - 6 -

     

    

 

(b) In
connection with a Registration Statement, the Investor agrees to severally and not jointly indemnify, hold harmless and defend, to the
same extent and in the same manner as is set forth in Section 6(a), the Company, each of its directors, each of its officers, employees,
representatives, or agents and each Person, if any, who controls the Company within the meaning of the Securities Act or the Exchange
Act (each an “Indemnified Party”), against any Claim or Indemnified Damages to which any of them may become subject,
under the Securities Act, the Exchange Act or otherwise, insofar as such Claim or Indemnified Damages arise out of or is based upon any
Violation, in each case to the extent, and only to the extent, that such Violation occurs in reliance upon and in conformity with written
information furnished to the Company by such Investor expressly for use in connection with such Registration Statement; and, subject to
Section 6(d), such Investor will reimburse any legal or other expenses reasonably incurred by them in connection with investigating or
defending any such Claim; provided, however, that the indemnity agreement contained in this Section 6(b) and the agreement with respect
to contribution contained in Section 7 shall not apply to amounts paid in settlement of any Claim if such settlement is effected without
the prior written consent of such Investor, which consent shall not be unreasonably withheld; provided, further, however, that the Investor
shall be liable under this Section 6(b) for only that amount of a Claim or Indemnified Damages as does not exceed the net proceeds to
such Investor as a result of the sale of Registrable Securities pursuant to such Registration Statement. Such indemnity shall remain in
full force and effect regardless of any investigation made by or on behalf of such Indemnified Party. Notwithstanding anything to the
contrary contained herein, the indemnification agreement contained in this Section 6(b) with respect to any prospectus shall not inure
to the benefit of any Indemnified Party if the untrue statement or omission of material fact contained in the prospectus was corrected
and such new prospectus was delivered to each Investor prior to such Investor’s use of the prospectus to which the Claim relates.

 

(c) Promptly after
receipt by an Indemnified Person or Indemnified Party under this Section 6 of notice of the commencement of any action or proceeding
(including any governmental action or proceeding) involving a Claim, such Indemnified Person or Indemnified Party shall, if a Claim
in respect thereof is to be made against any indemnifying party under this Section 6, deliver to the indemnifying party a written
notice of the commencement thereof, and the indemnifying party shall have the right to participate in, and, to the extent the
indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume control of the defense thereof
with counsel mutually satisfactory to the indemnifying party and the Indemnified Person or the Indemnified Party, as the case may
be; provided, however, that an Indemnified Person or Indemnified Party shall have the right to retain its own counsel with the fees
and expenses of not more than one (1) counsel for such Indemnified Person or Indemnified Party to be paid by the indemnifying party,
if, in the reasonable opinion of counsel retained by the indemnifying party, the representation by such counsel of the Indemnified
Person or Indemnified Party and the indemnifying party would be inappropriate due to actual or potential differing interests between
such Indemnified Person or Indemnified Party and any other party represented by such counsel in such proceeding. The Indemnified
Party or Indemnified Person shall cooperate fully with the indemnifying party in connection with any negotiation or defense of any
such action or claim by the indemnifying party and shall furnish to the indemnifying party all information reasonably available to
the Indemnified Party or Indemnified Person which relates to such action or claim. The indemnifying party shall keep the Indemnified
Party or Indemnified Person fully apprised at all times as to the status of the defense or any settlement negotiations with respect
thereto. No indemnifying party shall be liable for any settlement of any action, claim or proceeding effected without its prior
written consent; provided, however, that the indemnifying party shall not unreasonably withhold, delay or condition its consent. No
indemnifying party shall, without the prior written consent of the Indemnified Party or Indemnified Person, consent to entry of any
judgment or enter into any settlement or other compromise which does not include as an unconditional term thereof the giving by the
claimant or plaintiff to such Indemnified Party or Indemnified Person of a release from all liability in respect to such claim or
litigation. Following indemnification as provided for hereunder, the indemnifying party shall be subrogated to all rights of the
Indemnified Party or Indemnified Person with respect to all third parties, firms or corporations relating to the matter for which
indemnification has been made. The failure to deliver written notice to the indemnifying party within a reasonable time of the
commencement of any such action shall not relieve such indemnifying party of any liability to the Indemnified Person or Indemnified
Party under this Section 6, except to the extent that the indemnifying party is prejudiced in its ability to defend such action.

 

(d) The
indemnification required by this Section 6 shall be made by periodic payments of the amount thereof during the course of the investigation
or defense, as and when bills are received or Indemnified Damages are incurred.

 

(e) The
indemnity agreements contained herein shall be in addition to (i) any cause of action or similar right of the Indemnified Party or Indemnified
Person against the indemnifying party or others, and (ii) any liabilities the indemnifying party may be subject to pursuant to the law.

 

    - 7 -

     

    

 

 7. CONTRIBUTION.

 

To the extent any indemnification
by an indemnifying party is prohibited or limited by law, the indemnifying party agrees to make the maximum contribution with respect
to any amounts for which it would otherwise be liable under Section 6 to the fullest extent permitted by law; provided, however, that:
(i) no seller of Registrable Securities guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities
Act) shall be entitled to contribution from any seller of Registrable Securities who was not guilty of fraudulent misrepresentation; and
(ii) contribution by any seller of Registrable Securities shall be limited in amount to the net amount of proceeds received by such seller
from the sale of such Registrable Securities.

 

 8. REPORTS UNDER THE EXCHANGE ACT.

 

With a view to making available
to the Investors the benefits of Rule 144 promulgated under the Securities Act or any similar rule or regulation of the SEC that may at
any time permit the Investors to sell securities of the Company to the public without registration (“Rule 144”), and
as a material inducement to the Investor’s purchase of the Notes, the Company represents, warrants, and covenants to the following:

 

(a) The
Company is subject to the reporting requirements of section 13 or 15(d) of the Exchange Act and has filed all required reports under section
13 or 15(d) of the Exchange Act during the 12 months prior to the date hereof (or for such shorter period that the issuer was required
to file such reports), other than Form 8-K reports

 

(b) During the
Registration Period, the Company shall file with the SEC in a timely manner all required reports under section 13 or 15(d) of the
Exchange Act (it being understood that nothing herein shall limit the Company’s obligations under the Securities Purchase
Agreement) and such reports shall conform to the requirement of the Exchange Act and the SEC for filing thereunder.

 

(c) The
Company shall furnish to the Investor so long as such Investor owns Registrable Securities, promptly upon request, (i) a written statement
by the Company that it has complied with the reporting requirements of Rule 144, (ii) a copy of the most recent annual or quarterly report
of the Company and such other reports and documents so filed by the Company, and (iii) such other information as may be reasonably requested
to permit the Investors to sell such securities pursuant to Rule 144 without registration.

 

 9. AMENDMENT OF REGISTRATION RIGHTS.

 

Provisions of this Agreement
may be amended and the observance thereof may be waived (either generally or in a particular instance and either retroactively or prospectively),
only with the written consent of the Company and Investors who then hold at least two-thirds (2/3) of the Registrable Securities. Any
amendment or waiver effected in accordance with this Section 9 shall be binding upon each Investor and the Company. No such amendment
shall be effective to the extent that it applies to fewer than all of the holders of the Registrable Securities. No consideration shall
be offered or paid to any Person to amend or consent to a waiver or modification of any provision of any of this Agreement unless the
same consideration also is offered to all of the parties to this Agreement.

 

 10. MISCELLANEOUS.

 

(a) A Person is deemed
to be a holder of Registrable Securities whenever such Person owns or is deemed to own of record such Registrable Securities or owns
the right to receive the Registrable Securities. If the Company receives conflicting instructions, notices or elections from two (2)
or more Persons with respect to the same Registrable Securities, the Company shall act upon the basis of instructions, notice or election
received from the registered owner of such Registrable Securities.

 

(b) No Piggyback on
Registrations. The Company shall not file any other registration statements on Form F-3, Form F-1, or otherwise until the initial
Registration Statement required hereunder is declared effective by the SEC, provided that this Section 10(b) shall not prohibit the Company
from filing amendments to registration statements already filed. The Company shall not include any other securities on a Registration
Statement unless otherwise agreed by the Investor.

 

    - 8 -

     

    

 

(c) Piggy-Back
Registrations. If at any time there is not an effective Registration Statement covering all of the Registrable Securities and the
Company shall determine to prepare and file with the SEC a registration statement relating to an offering for its own account or the account
of others under the Securities Act of any of its equity securities, other than on Form S-4 or Form S-8 (each as promulgated under the
Securities Act) or their then equivalents relating to equity securities to be issued solely in connection with any acquisition of any
entity or business or equity securities issuable in connection with the stock option or other employee benefit plans, then the Company
shall send to each Investor a written notice of such determination and, if within fifteen (15) days after the date of such notice, any
such Investor shall so request in writing, the Company shall include in such registration statement all or any part of such Registrable
Securities such Investor requests to be registered; provided, however, that, the Company shall not be required to register
any Registrable Securities pursuant to this Section 10(c) that are eligible for resale pursuant to Rule 144 promulgated under the Securities
Act or that are the subject of a then effective Registration Statement.

 

(d) 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 notice provisions of the Securities Purchase Agreement or to such other address
and/or electronic mail address and/or to the attention of such other person as the recipient party has specified by written notice given
to each other party five (5) days prior to the effectiveness of such change. Written confirmation of receipt (A) given by the recipient
of such notice, consent, waiver or other communication, (B) electronically generated by the sender’s email service provider containing
the time, date, and recipient email or (C) provided by a courier or overnight courier service shall be rebuttable evidence of personal
service, receipt by facsimile or receipt from a nationally recognized overnight delivery service in accordance with this section.

 

(e) Failure
of any party to exercise any right or remedy under this Agreement or otherwise, or delay by a party in exercising such right or remedy,
shall not operate as a waiver thereof.

 

(f) This Agreement
shall be governed by and construed in accordance with the laws of the State of New York, without giving effect to conflicts of laws
thereof. Each of the parties consents to the jurisdiction of the Supreme Court of the State of New York located in the City of New
York, Borough of Manhattan, and the U.S. District Court for the Southern District of New York in connection with any dispute arising
under this Agreement and hereby waives, to the maximum extent permitted by law, any objection, including any objection based on
forum non conveniens to the bringing of any such proceeding in such jurisdictions. THE PARTIES HEREBY KNOWINGLY, VOLUNTARILY AND
INTENTIONALLY WAIVE THE RIGHT ANY OF THEM MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON OR ARISING OUT OF,
UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY TRANSACTION DOCUMENT OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS
(WHETHER VERBAL OR WRITTEN) OR ACTIONS OF ANY PARTY. THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE PARTIES’ ACCEPTANCE OF
THIS AGREEMENT.

 

(g) This
Agreement shall inure to the benefit of and be binding upon the permitted successors and assigns of each of the parties hereto.

 

(h) The
headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof.

 

(i) This
Agreement may be executed in identical counterparts, each of which shall be deemed an original but all of which shall constitute one and
the same agreement. This Agreement, once executed by a party, may be delivered to the other party hereto as an attachment to an email
of a copy of this Agreement bearing the signature of the party so delivering this Agreement.

 

(j) 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 the 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.

 

(k) 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.

 

(l) 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.

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

    - 9 -

     

    

 

IN WITNESS WHEREOF,
the Investor and the Company have caused their signature page to this Registration Rights Agreement to be duly executed as of the date
first above written.

 

	 	COMPANY:
	 	POWERBRIDGE TECHNOLOGIES CO., LTD.

 

	 	By:	/s/ Stewart Lor
	 	Name: 	STEWART LOR
	 	Title:	CO-CEO, CFO

 

	 	INVESTOR:
	 	YA II PN, LTD.

 

	 	By:	Yorkville Advisors Global, LP
	 	Its:	Investment Manager

 

	 	By:	Yorkville Advisors Global II, LLC
	 	Its:	General Partner

 

	 	By:	/s/ Mark Angelo
	 	Name: 	Mark Angelo
	 	Title:	Member

 

     

     

    

 

EXHIBIT A

 

FORM OF NOTICE OF EFFECTIVENESS

OF REGISTRATION STATEMENT

 

Attention:

 

		Re:	POWERBRIDGE TECHNOLOGIES CO., LTD.

 

Ladies and Gentlemen:

 

We are counsel to
POWERBRIDGE TECHNOLOGIES CO., LTD., a Cayman Islands exempted company (the “Company”), and have represented the
Company in connection with that certain Securities Purchase Agreement (the “SPA”) dated as of April 9, 2021, as
amended by that certain Closing Statement (the “Closing Statement”) dated as of August 6, 2021, in each case between the
Company and the Investor (the “Investor”) pursuant to which the Company issued to the Investor a convertible note
(the “Note”) in the original principal balance of $2.0 million, which Note is convertible into its ordinary
shares, par value $0.00166667 per share (the “Ordinary Shares”). Pursuant to the SPA and the Closing Statement,
the Company also has entered into a Registration Rights Agreement with the Investor (the “Registration Rights
Agreement”) pursuant to which the Company agreed, among other things, to register the Registrable Securities (as defined
in the Registration Rights Agreement) under the Securities Act of 1933, as amended (the “Securities Act”). In
connection with the Company’s obligations under the Registration Rights Agreement, on ____________ ____, the Company filed a
Registration Statement on Form ________ (File No. 333-_____________) (the “Registration Statement”) with the
Securities and Exchange Commission (the “SEC”) relating to the Registrable Securities which names each of the
Investors as a selling stockholder there under.

 

In connection with the foregoing,
we advise you that a member of the SEC’s staff has advised us by telephone that the SEC has entered an order declaring the Registration
Statement effective under the Securities Act at [ENTER TIME OF EFFECTIVENESS] on [ENTER DATE OF EFFECTIVENESS] and we have
no knowledge, after telephonic inquiry of a member of the SEC’s staff, that any stop order suspending its effectiveness has been
issued or that any proceedings for that purpose are pending before, or threatened by, the SEC and the Registrable Securities are available
for resale under the Securities Act pursuant to the Registration Statement.

 

	 	Very truly yours,
	 	 
	 	[Law Firm]

 

	 	By:

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