Document:

Exhibit
10.6

 

EXECUTION
VERSION

 

NON-COMPETITION
AND NON-SOLICITATION AGREEMENT

 

THIS
NON-COMPETITION AND NON-SOLICITATION AGREEMENT (this “Agreement”) is being executed and delivered as
of June 17, 2019, by the undersigned (“Seller”) in favor of and for the benefit of MTech Acquisition
Holdings Inc., a Delaware corporation which will be known after the consummation of the transactions contemplated by the Merger
Agreement (as defined below) (the “Closing”) as “Akerna Inc.” (together with its successors,
“Pubco”), MJ Freeway LLC, a Colorado limited liability company (together with its successors,
including the Company Surviving Subsidiary (as defined in the Merger Agreement, the “Company”), and
each of Pubco’s and the Company’s present and future Affiliates, successors and direct and indirect Subsidiaries (including
Purchaser) (collectively with Pubco and the Company, the “Covered Parties”). Any capitalized term used,
but not defined in this Agreement will have the meaning ascribed to such term in the Merger Agreement.

 

WHEREAS,
Pubco and the Company are parties to that certain that Agreement and Plan of Merger, dated as of October 10, 2018 (as amended,
including without limitation by the First Amendment to the Merger Agreement, dated April 17, 2019, the “Merger Agreement”),
by and among (i) MTech Acquisition Corp., a Delaware corporation and, prior to giving effect to the Closing, the parent entity
of Pubco (together with its successors, including the Purchaser Surviving Subsidiary, “Purchaser”),
(ii) Pubco, (iii) MTech Purchaser Merger Sub Inc., a Delaware corporation and a wholly-owned subsidiary of Pubco (“Purchaser
Merger Sub”), (iv) MTech Company Merger Sub LLC, a Colorado limited liability company and a wholly-owned subsidiary
of Pubco (“Company Merger Sub” and together with Pubco, Purchaser and Purchaser Merger Sub, the “Purchaser
Parties”), (v) MTech Sponsor LLC, a Florida limited liability company, in the capacity as the Purchaser Representative
thereunder (including any successor Purchaser Representative appointed in accordance therewith, the “Purchaser Representative”),
(vi) the Company and (vii) Jessica Billingsley (as successor to Harold Handelsman), in the capacity as Seller Representative thereunder,
pursuant to which, subject to the terms and conditions thereof, among other matters, (a) Purchaser Merger Sub will merge with
and into Purchaser, with Purchaser continuing as the surviving entity (the “Purchaser Merger”), and
with security holders of Purchaser receiving substantially equivalent securities of Pubco, and (b) Company Merger Sub will merge
with and into the Company, with the Company continuing as the surviving entity (the “Company Merger”,
and together with the Purchaser Merger, the “Mergers” and, collectively with the other transactions
contemplated by the Merger Agreement, the “Transactions”), and with equity holders of the Company, including
Seller, receiving shares of common stock of Pubco, and as a result of which Mergers, among other matters, Purchaser and the Company
will become wholly-owned subsidiaries of Pubco and Pubco will become a publicly traded company, all upon the terms and subject
to the conditions set forth in the Merger Agreement and in accordance with the applicable provisions of the DGCL and the Colorado
Act;

 

WHEREAS,
the Company (and after the Closing, Pubco), directly and indirectly through its Subsidiaries, creates and sells software, consulting
and data solutions for cannabis businesses, including cultivation management, point of sale, patient management and inventory
tracking systems (the “Business”);

 

WHEREAS,
in connection with, and as a condition to the Closing and to enable the Purchaser Parties and the Company to secure more fully
the benefits of the Transactions, including the protection and maintenance of the goodwill and confidential information of the
Company and its Subsidiaries and the other Covered Parties, the Purchaser Parties and the Company have required that Seller enter
into this Agreement;

 

WHEREAS,
Seller is entering into this Agreement in order to induce the Purchaser Parties and the Company to consummate the Transactions,
pursuant to which Seller will directly or indirectly receive a material benefit; and

 

     

     

    

 

WHEREAS,
Seller, as a former and/or current member, manager, officer and/or employee of the Company and/or its Subsidiaries, has contributed
to the value of the Company and its Subsidiaries and has obtained extensive and valuable knowledge and confidential information
concerning the business of the Company and its Subsidiaries.

 

NOW,
THEREFORE, in order to induce the Purchaser Parties and the Company to consummate the Transactions, and for other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, Seller hereby agrees as follows:

 

1. Restriction
on Competition.

 

(a) Restriction.
Seller hereby agrees that during the period from the Closing until the four (4) year anniversary of the Closing (the “Restricted
Period”), Seller will not, and will cause its Affiliates not to, without the prior written consent of Pubco (which
may be withheld in its sole discretion), anywhere within the United States, Australia, Canada, Chile, Columbia, Denmark, New Zealand,
South Africa, Spain, Switzerland, Uruguay or in any other markets in which the Covered Parties are engaged, or are actively contemplating
to become engaged, in the Business as of the Closing or during the Restricted Period (the “Territory”),
directly or indirectly engage in the Business (other than through a Covered Party) or own, manage, finance or control, or participate
in the ownership, management, financing or control of, or become engaged or serve as an officer, director, member, partner, employee,
agent, consultant, advisor or representative of, a business or entity (other than a Covered Party) that engages in the Business
(a “Competitor”). Notwithstanding the foregoing, Seller and its Affiliates may own passive investments
of not more than three percent (3%) beneficially ownership of any class of outstanding equity interests in a Competitor that is
publicly traded, so long as Seller and its Affiliates and their respective equity holders, directors, officers, managers and employees
who were involved with the business of any of the Covered Parties are not involved in the management or control of such Competitor
(“Permitted Ownership”).

 

(b)
Acknowledgment. Seller acknowledges and agrees, based upon the advice of legal counsel and/or Seller’s own education,
experience and training, that (i) Seller possesses knowledge of confidential information of the Covered Parties and the Business,
(ii) Seller’s execution of this Agreement is a material inducement to the Purchaser Parties and the Company to consummate
the Transactions and to realize the goodwill of the Company and its Subsidiaries, for which Seller and/or its Affiliates will
receive a substantial direct or indirect financial benefit, and that the Purchaser Parties and the Company would not have consummated
the Transactions but for Seller’s agreements set forth in this Agreement; (iii) it would impair the goodwill of the Covered
Parties and reduce the value of the assets of the Covered Parties and cause serious and irreparable injury if Seller and/or its
Affiliates were to use their ability and knowledge by engaging in the Business in competition with a Covered Party, and/or to
otherwise breach the obligations contained herein and that the Covered Parties would not have an adequate remedy at law because
of the unique nature of the Business, (iv) Seller and its Affiliates have no intention of engaging in the Business (other than
through the Covered Parties) during the Restricted Period other than through Permitted Ownership, (v) the relevant public policy
aspects of restrictive covenants, covenants not to compete and non-solicitation provisions have been discussed, and every effort
has been made to limit the restrictions placed upon Seller to those that are reasonable and necessary to protect the Covered Parties’
legitimate interests, (vi) the Covered Parties conduct and intend to conduct the Business everywhere in the Territory (subject
to applicable legal limitations) and compete with other businesses that are or could be located in any part of the Territory (subject
to applicable legal limitations), (vii) the foregoing restrictions on competition are fair and reasonable in type of prohibited
activity, geographic area covered, scope and duration, (viii) the provisions of this Agreement will not prevent Seller from earning
a livelihood, (ix) the consideration provided to Seller under this Agreement and the Merger Agreement is not illusory, and (x)
such provisions do not impose a greater restraint than is necessary to protect the goodwill or other business interests of the
Covered Parties.

 

    2

     

    

 

2. No
Solicitation; No Disparagement.

 

(a) No
Solicitation of Employees and Consultants. Seller agrees that, during the Restricted Period, Seller will not, and will not
permit its Affiliates to, without the prior written consent of Pubco (which may be withheld in its sole discretion), either on
its own behalf or on behalf of any other Person (other than, if applicable, a Covered Party in the performance of its duties on
behalf of the Covered Parties), directly or indirectly: (i) hire or engage as an employee, independent contractor, consultant
or otherwise any Covered Personnel (as defined below); (ii) solicit, induce, encourage or otherwise knowingly cause (or attempt
to do any of the foregoing) any Covered Personnel to leave the service (whether as an employee, consultant or independent contractor)
of any Covered Party; or (iii) in any way interfere with or attempt to interfere with the relationship between any Covered Personnel
and any Covered Party; provided, however, Seller and its Affiliates will not be deemed to have violated this Section
2(a) if any Covered Personnel voluntarily and independently solicits an offer of employment from Seller or its Affiliate (or
other Person whom any of them is acting on behalf of) by responding to a general advertisement or solicitation program conducted
by or on behalf of Seller or its Affiliate (or such other Person whom any of them is acting on behalf of) that is not targeted
at such Covered Personnel or Covered Personnel generally, so long as such Covered Personnel is not hired. For purposes of this
Agreement, “Covered Personnel” means any Person who is or was an employee, consultant or independent
contractor of the Covered Parties as of the date of the relevant act prohibited by this Section 2(a) or during the one
(1) year period preceding such date.

 

(b) Non-Solicitation
of Customers and Suppliers. Seller agrees that, during the Restricted Period, Seller will not, and will not permit its Affiliates
to, without the prior written consent of Pubco (which may be withheld in its sole discretion), individually or on behalf of any
other Person (other than, if applicable, a Covered Party in the performance of its duties on behalf of the Covered Parties), directly
or indirectly: (i) solicit, induce, encourage or otherwise knowingly cause (or attempt to do any of the foregoing) any Covered
Customer (as defined below) to (A) cease being, or not become, a client or customer of any Covered Party with respect to the Business
or (B) reduce the amount of business of such Covered Customer with any Covered Party, or otherwise alter such business relationship
in a manner adverse to any Covered Party, in either case, with respect to or relating to the Business; (ii) interfere with or
disrupt (or attempt to interfere with or disrupt) the contractual relationship between any Covered Party and any Covered Customer;
(iii) divert any business with any Covered Customer relating to the Business from a Covered Party; (iv) solicit for business,
provide services to, engage in or do business with, any Covered Customer for products or services that are part of the Business;
or (v) interfere with or disrupt (or attempt to interfere with or disrupt), any Person that was a vendor, supplier, distributor,
agent or other service provider of a Covered Party at the time of such interference or disruption, for a purpose competitive with
a Covered Party as it relates to the Business. For purposes of this Agreement, a “Covered Customer”
means any Person who is or was an actual customer or client (or prospective customer or client with whom a Covered Party actively
marketed or made or took specific action to make a proposal) of a Covered Party as of the date of the relevant act prohibited
by this Section 2(b) or during the one (1) year period preceding such date.

 

(c)
Non-Disparagement. Seller agrees that from and after the Closing until the Second (2nd) anniversary of the end
of the Restricted Period, Seller will not, and will not permit its Affiliates to, directly or indirectly engage in any conduct
that involves the making or publishing (including through electronic mail distribution or online social media) of any written
or oral statements or remarks (including the repetition or distribution of derogatory rumors, allegations, negative reports or
comments) that are disparaging, deleterious or damaging to the integrity, reputation or good will of one or more Covered Parties
or their respective management, officers, employees, independent contractors or consultants. Notwithstanding the foregoing, subject
to Section 3 below, the provisions of this Section 2(c) shall not restrict Seller from providing truthful testimony
or information in response to a subpoena or investigation by a Governmental Authority or in connection with any legal action by
Seller or its Affiliate against any Covered Party under this Agreement, the Merger Agreement or any other Ancillary Document that
is asserted by Seller or its Affiliate in good faith.

 

    3

     

    

 

3.
Confidentiality. From and after the Closing, Seller will, and will cause its Representatives to, keep confidential and not
(except, if applicable, in the performance of its duties on behalf of the Covered Parties) directly or indirectly use, disclose,
reveal, publish, transfer or provide access to, any and all Covered Party Information without the prior written consent of Pubco
(which may be withheld in its sole discretion). As used in this Agreement, “Covered Party Information”
means all material and information relating to the business, affairs and assets of any Covered Party, including material and information
that concerns or relates to such Covered Party’s bidding and proposal, technical information, computer hardware or software,
administrative, management, operational, data processing, financial, marketing, customers, sales, vendors, human resources, employees,
business development, planning and/or other business activities, regardless of whether such material and information is maintained
in physical, electronic, or other form, that is: (A) gathered, compiled, generated, produced or maintained by such Covered Party
through its Representatives, or provided to such Covered Party by its suppliers, service providers or customers; and (B) intended
and maintained by such Covered Party or its Representatives, suppliers, service providers or customers to be kept in confidence.
Covered Party Information also includes information disclosed to any Covered Party by third parties to the extent that a Covered
Party has an obligation of confidentiality in connection therewith. The obligations set forth in this Section 3 will not
apply to any Covered Party Information where Seller can prove that such material or information: (i) is known or available through
other lawful sources not bound by a confidentiality agreement with, or other confidentiality obligation with respect to such material
or information; (ii) is or becomes publicly known through no violation of this Agreement or other non-disclosure obligation of
Seller or any of its Representatives; (iii) is already in the possession of Seller at the time of disclosure through lawful sources
not bound by a confidentiality agreement or other confidentiality obligation as evidenced by Seller’s documents and records;
or (iv) is required to be disclosed pursuant to an order of any administrative body or court of competent jurisdiction (provided
that (A) the applicable Covered Party is given reasonable prior written notice, (B) Seller cooperates (and causes its Representatives
to cooperate) with any reasonable request of any Covered Party to seek to prevent or narrow such disclosure and (C) if after compliance
with clauses (A) and (B) such disclosure is still required, Seller and its Representatives only disclose such portion of the Covered
Party Information that is expressly required by such order, as it may be subsequently narrowed).

 

4.
Notification to Subsequent Employer. Seller agrees that, during the Restricted Period, any Covered Party may notify any Person
employing or otherwise retaining the services of Seller or evidencing an intention of employing or retaining the services of Seller
the existence and provisions of this Agreement.

 

5.
Representations and Warranties. Seller hereby represents and warrants, to and for the benefit of the Covered Parties, as of
the date of this Agreement and as of the Closing, that: (a) Seller has full power and capacity to execute and deliver, and to
perform all of Seller’s obligations under, this Agreement; and (b) neither the execution and delivery of this Agreement
nor the performance of Seller’s obligations hereunder will result directly or indirectly in a violation or breach of any
agreement or obligation by which Seller is a party or otherwise bound. By entering into this Agreement, Seller certifies and acknowledges
that Seller has carefully read all of the provisions of this Agreement, and that Seller voluntarily and knowingly enters into
this Agreement.

 

    4

     

    

 

6.
Remedies. The covenants and undertakings of Seller contained in this Agreement relate to matters which are of a special, unique
and extraordinary character and a violation of any of the terms of this Agreement may cause irreparable injury to the Covered
Parties, the amount of which may be impossible to estimate or determine and which cannot be adequately compensated. Seller agrees
that, in the event of any breach or threatened breach by Seller of any covenant or obligation contained in this Agreement, each
applicable Covered Party will be entitled to obtain the following remedies (in addition to, and not in lieu of, any other remedy
at law or in equity or pursuant to the Merger Agreement or the other Ancillary Documents that may be available to the Covered
Parties, including monetary damages), and a court of competent jurisdiction may award: (i) an injunction, restraining order or
other equitable relief restraining or preventing such breach or threatened breach, without the necessity of proving actual damages
or that monetary damages would be insufficient or posting bond or security, which Seller expressly waives; and (ii) recovery of
the Covered Party’s attorneys’ fees and costs incurred in enforcing the Covered Party’s rights under this Agreement.
Seller hereby consents to the award of any of the above remedies to the applicable Covered Party in connection with any such breach
or threatened breach. Seller hereby acknowledges and agrees that in the event of any breach of this Agreement, any value attributed
or allocated to this Agreement (or any other non-competition agreement with Seller) under or in connection with the Merger Agreement
shall not be considered a measure of, or a limit on, the damages of the Covered Parties.

 

7.
Survival of Obligations. The expiration of the Restricted Period will not relieve Seller of any obligation or liability arising
from any breach by Seller of this Agreement during the Restricted Period. Seller further agrees that the time period during which
the covenants contained in Section 1 and Section 2 of this Agreement will be effective will be computed by excluding
from such computation any time during which Seller is in violation of any provision of such Sections.

 

    5

     

    

 

8.
Miscellaneous.

 

(a)
Notices. All notices, consents, waivers and other communications hereunder shall be in writing and shall be deemed to have
been duly given when delivered (i) in person, (ii) by facsimile or other electronic means, with affirmative confirmation of receipt,
(iii) one Business Day after being sent, if sent by reputable, nationally recognized overnight courier service or (iv) three (3)
Business Days after being mailed, if sent by registered or certified mail, pre-paid and return receipt requested, in each case
to the applicable party at the following addresses (or at such other address for a party as shall be specified by like notice):

 

	If to Pubco or any other Covered Party, to:	with a copy (that will not constitute notice) to:
	 	 
	
        Akerna, Inc.

        1601 Arapahoe Street, Suite 900

        Denver, CO 80202

        Attn: Jessica Billingsley, CEO

        Facsimile No.: (888) 932-6537

        Telephone No.: (888) 932-6537

        Email: jessica@mjfreeway.com
	
        Graubard Miller

        The Chrysler Building

        405 Lexington Avenue - 11th Floor

        New York, New York 10174

        Attn: David Alan Miller, Esq.

        Facsimile No.: (212) 818-8881

        Telephone No.: (212) 818-8661

        Email: DMiller@graubard.comand

	and	 
		and
	MTech Sponsor LLC	 
	
        

        10124 Foxhurst Court

        Orlando, Florida 32836

        Attn: Scott Sozio

        Facsimile No.: (407) 370-3097

        Telephone No.: (407) 345-8332

        Email: scott@vandykeholdings.com
	
        Ellenoff Grossman & Schole LLP

        1345 Avenue of the Americas, 11th Floor

        New York, New York 10105

        Attn: Stuart Neuhauser, Esq.

          Matthew A. Gray, Esq.

        Facsimile No.: (212) 370-7889

        Telephone No.: (212) 370-1300

        Email: sneuhauser@egsllp.com

            mgray@egsllp.com

 

 

 

If to Seller, to:

the address below Seller’s name on the signature page
to this Agreement.

 

 

 

(b) Integration
and Non-Exclusivity. This Agreement, the Merger Agreement and the other Ancillary Documents contain the entire agreement between
Seller and the Covered Parties concerning the subject matter hereof. Notwithstanding the foregoing, the rights and remedies of
the Covered Parties under this Agreement are not exclusive of or limited by any other rights or remedies which they may have,
whether at law, in equity, by contract or otherwise, all of which will be cumulative (and not alternative). Without limiting the
generality of the foregoing, the rights and remedies of the Covered Parties, and the obligations and liabilities of Seller and
its Affiliates, under this Agreement, are in addition to their respective rights, remedies, obligations and liabilities (i) under
the laws of unfair competition, misappropriation of trade secrets, or other requirements of statutory or common law, or any applicable
rules and regulations and (ii) otherwise conferred by contract, including the Merger Agreement and any other written agreement
between Seller or its Affiliate and any of the Covered Parties. Nothing in the Merger Agreement will limit any of the obligations,
liabilities, rights or remedies of Seller or the Covered Parties under this Agreement, nor will any breach of the Merger Agreement
or any other agreement between Seller or its Affiliate and any of the Covered Parties limit or otherwise affect any right or remedy
of the Covered Parties under this Agreement. If any term or condition of any other agreement between Seller or its Affiliate and
any of the Covered Parties conflicts or is inconsistent with the terms and conditions of this Agreement, the more restrictive
terms will control as to Seller or its Affiliate, as applicable.

 

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(c)
Severability; Reformation. Each provision of this Agreement is separable from every other provision of this Agreement.
If any provision of this Agreement is found or held to be invalid, illegal or unenforceable, in whole or in part, by a court of
competent jurisdiction, then (i) such provision will be deemed amended to conform to applicable laws so as to be valid, legal
and enforceable to the fullest possible extent, (ii) the invalidity, illegality or unenforceability of such provision will not
affect the validity, legality or enforceability of such provision under any other circumstances or in any other jurisdiction,
and (iii) the invalidity, illegality or unenforceability of such provision will not affect the validity, legality or enforceability
of the remainder of such provision or the validity, legality or enforceability of any other provision of this Agreement. Seller
and the Covered Parties will substitute for any invalid, illegal or unenforceable provision a suitable and equitable provision
that carries out, so far as may be valid, legal and enforceable, the intent and purpose of such invalid, illegal or unenforceable
provision. Without limiting the foregoing, if any court of competent jurisdiction determines that any part hereof is unenforceable
because of the duration, geographic area covered, scope of such provision, or otherwise, such court will have the power to reduce
the duration, geographic area covered or scope of such provision, as the case may be, and, in its reduced form, such provision
will then be enforceable. Seller will, at a Covered Party’s request, join such Covered Party in requesting that such court
take such action.

 

(d) Amendment;
Waiver. This Agreement may not be amended or modified in any respect, except by a written agreement executed by Seller, Pubco
and the Purchaser Representative (or their respective permitted successors or assigns). No waiver will be effective unless it
is expressly set forth in a written instrument executed by the waiving party (and if such waiving party is a Covered Party, the
Purchaser Representative) and any such waiver will have no effect except in the specific instance in which it is given. Any delay
or omission by a party in exercising its rights under this Agreement, or failure to insist upon strict compliance with any term,
covenant, or condition of this Agreement will not be deemed a waiver of such term, covenant, condition or right, nor will any
waiver or relinquishment of any right or power under this Agreement at any time or times be deemed a waiver or relinquishment
of such right or power at any other time or times.

 

(e)
Dispute Resolution. Any dispute, difference, controversy or claim arising in connection with or related or incidental to,
or question occurring under, this Agreement or the subject matter hereof (other than applications for a temporary restraining
order, preliminary injunction, permanent injunction or other equitable relief or application for enforcement of a resolution under
this Section 8(e)) (a “Dispute”) shall be governed by this Section 8(e). A party must,
in the first instance, provide written notice of any Disputes to the other parties subject to such Dispute, which notice must
provide a reasonably detailed description of the matters subject to the Dispute. Any Dispute that is not resolved may at any time
after the delivery of such notice immediately be referred to and finally resolved by arbitration pursuant to the then-existing
Expedited Procedures (as defined in the AAA Procedures) of the Commercial Arbitration Rules (the “AAA Procedures”)
of the American Arbitration Association (the “AAA”). Any party involved in such Dispute may submit the
Dispute to the AAA to commence the proceedings after the Resolution Period. To the extent that the AAA Procedures and this Agreement
are in conflict, the terms of this Agreement shall control. The arbitration shall be conducted by one arbitrator nominated by
the AAA promptly (but in any event within five (5) Business Days) after the submission of the Dispute to the AAA and reasonably
acceptable to each party subject to the Dispute, which arbitrator shall be a commercial lawyer with substantial experience arbitrating
disputes under acquisition agreements. The arbitrator shall accept his or her appointment and begin the arbitration process promptly
(but in any event within five (5) Business Days) after his or her nomination and acceptance by the parties subject to the Dispute.
The proceedings shall be streamlined and efficient. The arbitrator shall decide the Dispute in accordance with the substantive
law of the State of New York. Time is of the essence. Each party shall submit a proposal for resolution of the Dispute to the
arbitrator within twenty (20) days after confirmation of the appointment of the arbitrator. The arbitrator shall have the power
to order any party to do, or to refrain from doing, anything consistent with this Agreement, the Ancillary Documents and applicable
Law, including to perform its contractual obligation(s); provided, that the arbitrator shall be limited to ordering pursuant
to the foregoing power (and, for the avoidance of doubt, shall order) the relevant party (or parties, as applicable) to comply
with only one or the other of the proposals. The arbitrator’s award shall be in writing and shall include a reasonable explanation
of the arbitrator’s reason(s) for selecting one or the other proposal. The seat of arbitration shall be in New York County, State
of New York. The language of the arbitration shall be English.

 

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(f) Governing
Law; Jurisdiction. This Agreement shall be governed by, construed and enforced in accordance with the Laws of the State of
New York without regard to the conflict of laws principles thereof. Subject to Section 8(e), all Actions arising out of
or relating to this Agreement shall be heard and determined exclusively in any state or federal court located in New York, New
York (or in any appellate courts thereof) (the “Specified Courts”). Subject to Section 8(e),
each party hereto hereby (a) submits to the exclusive jurisdiction of any Specified Court for the purpose of any Action arising
out of or relating to this Agreement brought by any party hereto, (b) irrevocably waives, and agrees not to assert by way of motion,
defense or otherwise, in any such Action, any claim that it is not subject personally to the jurisdiction of the above-named courts,
that its property is exempt or immune from attachment or execution, that the Action is brought in an inconvenient forum, that
the venue of the Action is improper, or that this Agreement or the transactions contemplated hereby may not be enforced in or
by any Specified Court and (c) waives any bond, surety or other security that might be required of any other party with respect
thereto. Each party agrees that a final judgment in any Action shall be conclusive and may be enforced in other jurisdictions
by suit on the judgment or in any other manner provided by Law or in equity. Each party irrevocably consents to the service of
the summons and complaint and any other process in any other action or proceeding relating to the transactions contemplated by
this Agreement, on behalf of itself, or its property, by personal delivery of copies of such process to such party at the applicable
address set forth in Section 8(a). Nothing in this Section 8(f) shall affect the right of any party to serve legal
process in any other manner permitted by Law.

 

(g) WAIVER
OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY
HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY ACTION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT
OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE OF ANY OTHER PARTY HAS REPRESENTED,
EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF ANY ACTION, SEEK TO ENFORCE THAT FOREGOING WAIVER AND
(B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE
MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 8(g). ANY PARTY HERETO MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF
THIS SECTION 8(g) WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF EACH SUCH PARTY TO THE WAIVER OF ITS RIGHT TO TRIAL
BY JURY.

 

(h) Successors
and Assigns; Third Party Beneficiaries. This Agreement will be binding upon Seller and Seller’s estate, successors and
assigns, and will inure to the benefit of the Covered Parties, and their respective successors and assigns. Each Covered Party
may freely assign any or all of its rights under this Agreement, at any time, in whole or in part, to any Person which acquires,
in one or more transactions, at least a majority of the equity securities (whether by equity sale, merger or otherwise) of such
Covered Party or all or substantially all of the assets of such Covered Party and its Subsidiaries, taken as a whole, without
obtaining the consent or approval of Seller. Seller agrees that the obligations of Seller under this Agreement are personal and
will not be assigned by Seller. Each of the Covered Parties are express third party beneficiaries of this Agreement and will be
considered parties under and for purposes of this Agreement.

 

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(i)
Purchaser Representative Authorized to Act on Behalf of Covered Parties. The parties acknowledge and agree that the Purchaser
Representative is authorized and shall have the sole right to act on behalf of Pubco and the other Covered Parties under this
Agreement, including the right to enforce Pubco’s and the other Covered Parties’ rights and remedies under this
Agreement. Without limiting the foregoing, in the event that Seller or its Affiliate serves as a director, officer, employee or
other authorized agent of a Covered Party, Seller or such Affiliate shall have no authority, express or implied, to act or make
any determination on behalf of a Covered Party in connection with this Agreement or any dispute or Action with respect hereto.

 

(j) Construction.
Seller acknowledges that Seller has been represented by counsel, or had the opportunity to be represented by counsel of Seller’s
choice. Any rule of construction to the effect that ambiguities are to be resolved against the drafting party will not be applied
in the construction or interpretation of this Agreement. Neither the drafting history nor the negotiating history of this Agreement
will be used or referred to in connection with the construction or interpretation of this Agreement. The headings and subheadings
contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this
Agreement. In this Agreement: (i) the words “include,” “includes” and “including” when used
herein shall be deemed in each case to be followed by the words “without limitation”; (ii) the definitions contained
herein are applicable to the singular as well as the plural forms of such terms; (iii) whenever required by the context, any pronoun
shall include the corresponding masculine, feminine or neuter forms, and the singular form of nouns, pronouns and verbs shall
include the plural and vice versa; (iv) the words “herein,” “hereto,” and “hereby” and other
words of similar import shall be deemed in each case to refer to this Agreement as a whole and not to any particular Section or
other subdivision of this Agreement; (v) the word “if” and other words of similar import when used herein shall be
deemed in each case to be followed by the phrase “and only if”; (vi) the term “or” means “and/or”;
and (vii) any agreement or instrument defined or referred to herein or in any agreement or instrument that is referred to herein
means such agreement or instrument as from time to time amended, modified or supplemented, including by waiver or consent and
references to all attachments thereto and instruments incorporated therein.

 

(k) Counterparts.
This Agreement may be executed in one or more counterparts, and by the different parties hereto in separate counterparts,
each of which when executed shall be deemed to be an original but all of which taken together shall constitute one and the same
agreement. A photocopy, faxed, scanned and/or emailed copy of this Agreement or any signature page to this Agreement, shall have
the same validity and enforceability as an originally signed copy.

 

(l) Effectiveness.
This Agreement shall be binding upon Seller upon Seller’s execution and delivery of this Agreement, but this Agreement
shall only become effective upon the Closing. In the event that the Merger Agreement is validly terminated in accordance with
its terms prior to the Closing, this Agreement shall automatically terminate and become null and void, and the parties shall have
no obligations hereunder.

 

[Remainder
of Page Intentionally Left Blank; Signature Page Follows]

 

    9

     

    

 

IN
WITNESS WHEREOF, the undersigned has duly executed and delivered this Non-Competition and Non-Solicitation Agreement as of the
date first written above.

 

	 	/s/ Amy Poinsett
	 	 
	 	AMY POINSETT
	 	 
	 	Address for Notice:
	 	
	 	Address:	601 16th St, Suite C420, Golden, CO 80401
	 	 
	 	 
	 	Facsimile No.:	 
	 	Telephone No.:  	970-708-0213
	 	Email: 	amy@poinsettgroup.com

 

{Signature
Page to Non-Competition Agreement}

 

     

     

    

 

Acknowledged
and accepted as of the date first written above:

 

Pubco:

 

MTECH
ACQUISITION HOLDINGS INC.

 

	By:	/s/ Scott Sozio	 
	Name: 	Scott Sozio	 
	Title:	President 	 

 

The
Company:

 

MJ
FREEWAY LLC

 

	By:	               	 
	Name: 		 
	Title:		 

 

The
Purchaser Representative:

 

MTECH
SPONSOR LLC,

solely in its capacity as the Purchaser Representative 

 

	By:	/s/ Scott Sozio	 
	Name: 	Scott Sozio	 
	Title:	President 	 

 

{Signature
Page to Non-Competition Agreement} 

 

     

     

    

 

Acknowledged
and accepted as of the date first written above:

 

Pubco:

 

MTECH
ACQUISITION HOLDINGS INC.

 

	By:	 	 
	Name: 	 	 
	Title:	 	 

 

The
Company:

 

MJ
FREEWAY LLC

 

	By:	/s/ Ruth Ann Kraemer	 
	Name: 	Ruth Ann Kraemer	 
	Title:	CEO	 

 

The
Purchaser Representative:

 

MTECH
SPONSOR LLC,

solely in its capacity as the Purchaser Representative 

 

	By:	 	 
	Name: 	 	 
	Title:	 	 

 

{Signature
Page to Non-Competition Agreement}Exhibit 10.7

 

INDEMNIFICATION
AGREEMENT

 

THIS INDEMNIFICATION
AGREEMENT (the “Agreement”) is made and entered into as of June 17, 2019 between Akerna Corp., a Delaware corporation
(f/k/a MTech Acquisition Holdings Inc., the “Company”), and [________________] (“Indemnitee”).

 

RECITALS:

 

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

 

WHEREAS,
the Board of Directors of the Company (the “Board”) has determined that, in order to attract and retain qualified
individuals, unless approved by the Board otherwise, the Company will maintain on an ongoing
basis, at its sole expense, liability insurance to protect persons serving the Company and its subsidiaries from certain liabilities.
The Amended and Restated Bylaws of the Company (as amended from time to time, the “Bylaws”) and the Amended
and Restated Certificate of Incorporation of the Company (as amended from time to time, the “Certificate”) require
indemnification of the officers and directors of the Company. Indemnitee may also be entitled to indemnification pursuant to the
General Corporation Law of the State of Delaware (“DGCL”). The Bylaws and the Certificate and the DGCL expressly
provide that the indemnification provisions set forth therein are not exclusive, and thereby contemplate that contracts may be
entered into between the Company and members of the Board, officers and other persons with respect to indemnification;

 

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

 

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

 

NOW, THEREFORE,
in consideration of Indemnitee’s agreement to serve as an [officer] [director], the parties hereto agree as follows:

 

1. Indemnity
of Indemnitee. The Company hereby agrees to hold harmless and indemnify Indemnitee to the fullest extent permitted by law,
as such may be amended from time to time. In furtherance of the foregoing indemnification, and without limiting the generality
thereof:

 

(a) Proceedings
Other Than Proceedings by or in the Right of the Company. Indemnitee shall be entitled to the rights of indemnification provided
in this Section l(a) if, by reason of Indemnitee’s Corporate Status (as hereinafter defined), Indemnitee is, or is
threatened to be made, a party to or participant in any Proceeding (as hereinafter defined) other than a Proceeding by or in the
right of the Company. Pursuant to this Section 1(a), Indemnitee shall be indemnified against all Expenses (as hereinafter
defined), judgments, penalties, fines and amounts paid in settlement actually and reasonably incurred by Indemnitee, or on Indemnitee’s
behalf, in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner
Indemnitee reasonably believed to be in, or not opposed to, the best interests of the Company, and with respect to any criminal
Proceeding, had no reasonable cause to believe Indemnitee’s conduct was unlawful.

 

     

     

    

 

(b) Proceedings
by or in the Right of the Company. Indemnitee shall be entitled to the rights of indemnification provided in this Section
1(b) if, by reason of Indemnitee’s Corporate Status, Indemnitee is, or is threatened to be made, a party to or participant
in any Proceeding brought by or in the right of the Company. Pursuant to this Section 1(b), Indemnitee shall be indemnified
against all Expenses actually and reasonably incurred by Indemnitee, or on Indemnitee’s behalf, in connection with such Proceeding
if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in, or not opposed to, the best interests
of the Company; provided, however, if applicable law so provides, no indemnification against such Expenses shall
be made in respect of any claim, issue or matter in such Proceeding as to which Indemnitee shall have been adjudged to be liable
to the Company unless and to the extent that the Court of Chancery of the State of Delaware shall determine that such indemnification
may be made.

 

(c) Indemnification
for Expenses of a Party Who is Wholly or Partly Successful. Notwithstanding any other provision of this Agreement, to the extent
that Indemnitee is, by reason of Indemnitee’s Corporate Status, a party to and is successful, on the merits or otherwise,
in any Proceeding, Indemnitee shall be indemnified by the Company to the maximum extent permitted by law, as such may be amended
from time to time, against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection
therewith. If Indemnitee is not wholly successful in such Proceeding but is successful, on the merits or otherwise, as to one or
more but less than all claims, issues or matters in such Proceeding, the Company shall indemnify Indemnitee against all Expenses
actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with each successfully resolved claim,
issue or matter. For purposes of this Section and without limitation, the termination of any claim, issue or matter in such a Proceeding
by dismissal, with or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter.

 

2. Additional
Indemnity. In addition to, and without regard to any limitations on, the indemnification provided for in Section 1 of
this Agreement, the Company shall and hereby does indemnify and hold harmless Indemnitee against all Expenses, judgments, penalties,
fines and amounts paid in settlement actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf if, by reason
of Indemnitee’s Corporate Status, Indemnitee is, or is threatened to be made, a party to or participant in any Proceeding
(including a Proceeding by or in the right of the Company), including all liability arising out of the negligence or active or
passive wrongdoing of Indemnitee. The only limitation that shall exist upon the Company’s obligations pursuant to this Agreement
shall be that the Company shall not be obligated to make any payment to Indemnitee that is finally determined (under the procedures,
and subject to the presumptions, set forth in Sections 6 and 7 hereof) to be unlawful.

 

3. Contribution.

 

(a) Whether
or not the indemnification provided in Sections 1 and 2 hereof is available, in respect of any threatened, pending
or completed action, suit or proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such action,
suit or proceeding), the Company shall pay, in the first instance, the entire amount of any judgment or settlement of such action,
suit or proceeding without requiring Indemnitee to contribute to such payment and the Company hereby waives and relinquishes any
right of contribution it may have against Indemnitee. The Company shall not enter into any settlement of any action, suit or proceeding
in which the Company is jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding) unless such settlement
provides for a full and final release of all claims asserted against Indemnitee.

 

    2

     

    

 

(b) Without
diminishing or impairing the obligations of the Company set forth in the preceding subparagraph, if, for any reason, Indemnitee
shall elect or be required to pay all or any portion of any judgment or settlement in any threatened, pending or completed action,
suit or proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding),
the Company shall contribute to the amount of Expenses, judgments, fines and amounts paid in settlement actually and reasonably
incurred and paid or payable by Indemnitee in proportion to the relative benefits received by the Company and all officers, directors
or employees of the Company, other than Indemnitee, who are jointly liable with Indemnitee (or would be if joined in such action,
suit or proceeding), on the one hand, and Indemnitee, on the other hand, from the transaction or events from which such action,
suit or proceeding arose; provided, however, that the proportion determined on the basis of relative benefit may,
to the extent necessary to conform to law, be further adjusted by reference to the relative fault of the Company and all officers,
directors or employees of the Company other than Indemnitee who are jointly liable with Indemnitee (or would be if joined in such
action, suit or proceeding), on the one hand, and Indemnitee, on the other hand, in connection with the transaction or events that
resulted in such expenses, judgments, fines or settlement amounts, as well as any other equitable considerations which applicable
law may require to be considered. The relative fault of the Company and all officers, directors or employees of the Company, other
than Indemnitee, who are jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), on the one
hand, and Indemnitee, on the other hand, shall be determined by reference to, among other things, the degree to which their actions
were motivated by intent to gain personal profit or advantage, the degree to which their liability is primary or secondary and
the degree to which their conduct is active or passive.

 

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

 

(d) To
the fullest extent permissible under applicable law, if the indemnification provided for in this Agreement is unavailable to Indemnitee
for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee,
whether for judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or for Expenses, in connection
with any claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in
light of all of the circumstances of such Proceeding in order to reflect (i) the relative benefits received by the Company and
Indemnitee as a result of the event(s) and/or transaction(s) giving cause to such Proceeding and/or (ii) the relative fault of
the Company (and its directors, officers, employees and agents) and Indemnitee in connection with such event(s) and/or transaction(s).

 

4. Indemnification
for Expenses of a Witness. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee is, by reason
of Indemnitee’s Corporate Status, a witness, or is made (or asked) to respond to discovery requests, in any Proceeding to
which Indemnitee is not a party, Indemnitee shall be indemnified against all Expenses actually and reasonably incurred by Indemnitee
or on Indemnitee’s behalf in connection therewith.

 

5. Advancement
of Expenses. Notwithstanding any other provision of this Agreement, the Company shall advance all Expenses incurred by or on
behalf of Indemnitee in connection with any Proceeding by reason of Indemnitee’s Corporate Status within thirty (30) days
after the receipt by the Company of a statement or statements from Indemnitee requesting such advance or advances from time to
time, whether prior to or after final disposition of such Proceeding. Such statement or statements shall reasonably evidence the
Expenses incurred by Indemnitee and shall include or be preceded or accompanied by a written undertaking by or on behalf of Indemnitee
to repay any Expenses advanced if it shall ultimately be determined that Indemnitee is not entitled to be indemnified against such
Expenses. Any advances and undertakings to repay pursuant to this Section 5 shall be unsecured and interest free. 

 

    3

     

    

 

6. Procedures
and Presumptions for Determination of Entitlement to Indemnification. It is the intent of this Agreement to secure for Indemnitee
rights of indemnity that are as favorable as may be permitted under the DGCL and public policy of the State of Delaware. Accordingly,
the parties agree that the following procedures and presumptions shall apply in the event of any question as to whether Indemnitee
is entitled to indemnification under this Agreement:

 

(a) To
obtain indemnification under this Agreement, Indemnitee shall submit to the Company a written request, including therein or therewith
such documentation and information as is reasonably available to Indemnitee and is reasonably necessary to determine whether and
to what extent Indemnitee is entitled to indemnification. The Secretary of the Company shall, promptly upon receipt of such a request
for indemnification, advise the Board in writing that Indemnitee has requested indemnification. Notwithstanding the foregoing,
any failure of Indemnitee to provide such a request to the Company, or to provide such a request in a timely fashion, shall not
relieve the Company of any liability that it may have to Indemnitee unless, and to the extent that, such failure actually and materially
prejudices the interests of the Company. 

 

(b) Upon
written request by Indemnitee for indemnification pursuant to the first sentence of Section 6(a) hereof, a determination
with respect to Indemnitee’s entitlement thereto shall be made in the specific case by one of the following methods: (1)
by a majority vote of the Disinterested Directors (as defined below), even though less than a quorum; (2) if elected by a majority
vote of the Disinterested Directors, by a committee of Disinterested Directors designated by a majority vote of the Disinterested
Directors, even though less than a quorum; or (3) if (A) there are no Disinterested Directors, (B) the Disinterested Directors
so direct, or (C) requested in writing by the Indemnitee upon a Change in Control, by Independent Counsel (as defined below) in
a written opinion to the Board, a copy of which shall be delivered to Indemnitee. A “Change in Control” shall
be deemed to occur upon the earliest to occur after the date of this Agreement of any of the following events:

 

(i)
 Acquisition of Stock by Third Party. Any Person
(as defined below) becomes the Beneficial Owner (as defined below), directly or indirectly, of securities of the Company representing
fifteen percent (15%) or more of the combined voting power of the Company’s then outstanding securities (excluding any Person
who is the Beneficial Owner, directly or indirectly, of 15% or more of the combined voting power of the Company’s outstanding
securities as of the execution of this Agreement);

 

(ii) Change
in Board. During any period of two (2) consecutive years (not including any period prior to the
execution of this Agreement), individuals who at the beginning of such period constitute the Board, and any new director (other
than a director designated by a Person who has entered into an agreement with the Company to effect a transaction described in
Sections 6(b)(i), 6(b)(iii) or 6(b)(iv)) whose election by the Board or nomination for election by the Company’s stockholders
was approved by a vote of at least two-thirds (2/3rds) of the directors then still in office who either were directors
at the beginning of the period or whose election or nomination for election was previously so approved, cease for any reason to
constitute a least a majority of the members of the Board;

 

(iii) Corporate
Transactions. The effective date of a merger or consolidation of the Company with any other entity,
other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior to
such merger or consolidation continuing to represent (either by remaining outstanding or by being converted into voting securities
of the surviving entity) more than fifty one percent (51%) of the combined voting power of the voting securities of the surviving
entity outstanding immediately after such merger or consolidation and with the power to elect at least a majority of the Board
or other governing body of such surviving entity;

 

(iv) Liquidation.
The approval by the stockholders of the Company of a complete liquidation of the Company or an agreement for the sale or disposition
by the Company of all or substantially all of the assets of the Company and its subsidiaries, taken as a whole; and

 

    4

     

    

 

(v) Other
Events. There occurs any other event of a nature that would be required to be reported in response
to Item 6(e) of Schedule 14A of Regulation 14A (or a response to any similar item on any similar schedule or form) promulgated
under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), whether or not the Company is then
subject to such reporting requirement.

 

(c) If
the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 6(b) hereof,
the Independent Counsel shall be selected as provided in this Section 6(c). The Independent Counsel shall be selected by
the Board. Indemnitee may, within ten (10) days after such written notice of selection shall have been given, deliver to the Company
a written objection to such selection; provided, however, that such objection may be asserted only on the ground that the Independent
Counsel so selected does not meet the requirements of “Independent Counsel” as defined in Section 13 of this
Agreement, and the objection shall set forth with particularity the factual basis of such assertion. Absent a proper and timely
objection, the Person so selected shall act as Independent Counsel. If a written objection is made and substantiated, the Independent
Counsel selected may not serve as Independent Counsel unless and until such objection is withdrawn or a court has determined that
such objection is without merit. If, within twenty (20) days after submission by Indemnitee of a written request for indemnification
pursuant to Section 6(a) hereof, no Independent Counsel shall have been selected and not objected to, either the Company
or Indemnitee may petition the Court of Chancery of the State of Delaware or other court of competent jurisdiction for resolution
of any objection which shall have been made by Indemnitee to the Company’s selection of Independent Counsel and/or for the
appointment as Independent Counsel of a Person selected by the court or by such other Person as the court shall designate, and
the Person with respect to whom all objections are so resolved or the Person so appointed shall act as Independent Counsel under
Section 6(b) hereof. The Company shall pay any and all reasonable fees and expenses of Independent Counsel incurred by such
Independent Counsel in connection with acting pursuant to Section 6(b) hereof, and the Company shall pay all reasonable
fees and expenses incident to the procedures of this Section 6(c), regardless of the manner in which such Independent Counsel
was selected or appointed.

 

(d) In
making a determination with respect to entitlement to indemnification hereunder, the Person or Persons making such determination
shall presume that Indemnitee is entitled to indemnification under this Agreement. Anyone seeking to overcome this presumption
shall have the burden of proof and the burden of persuasion by clear and convincing evidence. Neither the failure of the Company
(including by its directors or independent legal counsel) to have made a determination prior to the commencement of any action
pursuant to this Agreement that indemnification is proper in the circumstances because Indemnitee has met the applicable standard
of conduct, nor an actual determination by the Company (including by its directors or independent legal counsel) that Indemnitee
has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that Indemnitee has not
met the applicable standard of conduct.

 

(e) Indemnitee
shall be deemed to have acted in good faith if Indemnitee’s action is based on the records or books of account of the Enterprise
(as defined below), including financial statements, or on information supplied to Indemnitee by the officers of the Enterprise
in the course of their duties, or on the advice of legal counsel for the Enterprise or on information or records given or reports
made to the Enterprise by an independent certified public accountant or by an appraiser or other expert selected with reasonable
care by the Enterprise. In addition, the knowledge and/or actions, or failure to act, of any director, officer, agent or employee
of the Enterprise shall not be imputed to Indemnitee for purposes of determining the right to indemnification under this Agreement.
Whether or not the foregoing provisions of this Section 6(e) are satisfied, it shall in any event be presumed that Indemnitee
has at all times acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests
of the Company. Anyone seeking to overcome this presumption shall have the burden of proof and the burden of persuasion by clear
and convincing evidence.

 

    5

     

    

 

(f) If
the Person or Persons empowered or selected under Section 6 to determine whether Indemnitee is entitled to indemnification
shall not have made a determination within sixty (60) days after receipt by the Company of the request therefor, the requisite
determination of entitlement to indemnification shall be deemed to have been made and Indemnitee shall be entitled to such indemnification
absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s
statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification
under applicable law; provided, however, that such sixty (60) day period may be extended for a reasonable time, not
to exceed an additional thirty (30) days, if the Person or Persons making such determination with respect to entitlement to indemnification
in good faith requires such additional time to obtain or evaluate documentation and/or information relating thereto.

 

(g) Indemnitee
shall cooperate with the Person or Persons making such determination with respect to Indemnitee’s entitlement to indemnification,
including providing to such Person or Persons upon reasonable advance request any documentation or information which is not privileged
or otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary to such determination.
Any Independent Counsel or member of the Board shall act reasonably and in good faith in making a determination regarding Indemnitee’s
entitlement to indemnification under this Agreement. Any costs or expenses (including attorneys’ fees and disbursements)
incurred by Indemnitee in so cooperating with the Person or Persons making such determination shall be borne by the Company (irrespective
of the determination as to Indemnitee’s entitlement to indemnification) and the Company hereby indemnifies and agrees to
hold Indemnitee harmless therefrom.

 

(h) The
Company acknowledges that a settlement or other disposition short of final judgment may be successful if it permits a party to
avoid expense, delay, distraction, disruption and uncertainty. In the event that any action, claim or proceeding to which Indemnitee
is a party is resolved in any manner other than by adverse judgment against Indemnitee (including settlement of such action, claim
or proceeding with or without payment of money or other consideration) it shall be presumed that Indemnitee has been successful
on the merits or otherwise in such action, suit or proceeding. Anyone seeking to overcome this presumption shall have the burden
of proof and the burden of persuasion by clear and convincing evidence.

 

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

 

7. Remedies
of Indemnitee.

 

(a) In
the event that (i) a determination is made pursuant to Section 6 of this Agreement that Indemnitee is not entitled to indemnification
under this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 5 of this Agreement, (iii) no
determination of entitlement to indemnification is made pursuant to Section 6(b) of this Agreement within ninety (90) days
after receipt by the Company of the request for indemnification, (iv) payment of indemnification is not made pursuant to this Agreement
within ten (10) days after receipt by the Company of a written request therefor, or (v) payment of indemnification is not made
within ten (10) days after a determination has been made that Indemnitee is entitled to indemnification or such determination is
deemed to have been made pursuant to Section 6 of this Agreement, Indemnitee shall be entitled to an adjudication in an
appropriate court of the State of Delaware, or in any other court of competent jurisdiction, of Indemnitee’s entitlement
to such indemnification. Indemnitee shall commence such proceeding seeking an adjudication within one hundred eighty (180) days
following the date on which Indemnitee first has the right to commence such proceeding pursuant to this Section 7(a). The
Company shall not oppose Indemnitee’s right to seek any such adjudication.

 

    6

     

    

 

(b) In
the event that a determination shall have been made pursuant to Section 6(b) of this Agreement that Indemnitee is not entitled
to indemnification, any judicial proceeding commenced pursuant to this Section 7 shall be conducted in all respects as a
de novo trial on the merits, and Indemnitee shall not be prejudiced by reason of the adverse determination under Section 6(b).

 

(c) If
a determination shall have been made pursuant to Section 6(b) of this Agreement that Indemnitee is entitled to indemnification,
the Company shall be bound by such determination in any judicial proceeding commenced pursuant to this Section 7, absent
(i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s misstatement
not materially misleading in connection with the application for indemnification, or (ii) a prohibition of such indemnification
under applicable law.

 

(d) In
the event that Indemnitee, pursuant to this Section 7, seeks a judicial adjudication of Indemnitee’s rights under,
or to recover damages for breach of, this Agreement, or to recover under any directors’ and officers’ liability insurance
policies maintained by the Company, the Company shall pay on Indemnitee’s behalf, in advance, any and all expenses (of the
types described in the definition of Expenses in Section 13 of this Agreement) actually and reasonably incurred by Indemnitee
in such judicial adjudication, regardless of whether Indemnitee ultimately is determined to be entitled to such indemnification,
advancement of expenses or insurance recovery.

 

(e) The
Company shall be precluded from asserting in any judicial proceeding commenced pursuant to this Section 7 that the procedures
and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court that the Company
is bound by all the provisions of this Agreement. The Company shall indemnify Indemnitee against any and all Expenses and, if requested
by Indemnitee, shall (within ten (10) days after receipt by the Company of a written request therefore) advance, to the extent
not prohibited by law, such expenses to Indemnitee, which are incurred by Indemnitee in connection with any action brought by Indemnitee
for indemnification or advance of Expenses from the Company under this Agreement or under any directors’ and officers’
liability insurance policies maintained by the Company, regardless of whether Indemnitee ultimately is determined to be entitled
to such indemnification, advancement of Expenses or insurance recovery, as the case may be.

 

(f) Notwithstanding
anything in this Agreement to the contrary, no determination as to entitlement to indemnification under this Agreement shall be
required to be made prior to the final disposition of the Proceeding.

 

8. Non-Exclusivity;
Survival of Rights; Insurance; Primacy of Indemnification; Subrogation.

 

(a) The
rights of indemnification as provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee may
at any time be entitled under applicable law, the Certificate, the Bylaws, any agreement, a vote of stockholders, a resolution
of directors of the Company, or otherwise. No amendment, alteration or repeal of this Agreement or of any provision hereof shall
limit or restrict any right of Indemnitee under this Agreement in respect of any action taken or omitted by such Indemnitee in
Indemnitee’s Corporate Status prior to such amendment, alteration or repeal. To the extent that a change in the DGCL, whether
by statute or judicial decision, permits greater indemnification than would be afforded currently under the Certificate, By-laws
and this Agreement, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits so
afforded by such change. No right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every
other right and remedy shall be cumulative and in addition to every other right and remedy given hereunder or now or hereafter
existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not
prevent the concurrent assertion or employment of any other right or remedy.

 

    7

     

    

 

(b) To
the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers, employees,
or agents or fiduciaries of the Company or of any other corporation, partnership, joint venture, trust, employee benefit plan or
other enterprise that such Person serves at the request of the Company, Indemnitee shall be covered by such policy or policies
in accordance with its or their terms to the maximum extent of the coverage available for any director, officer, employee, agent
or fiduciary under such policy or policies. If, at the time of the receipt of a notice of a claim pursuant to the terms hereof,
the Company has directors’ and officers’ liability insurance in effect, the Company shall give prompt notice of the
commencement of such proceeding to the insurers in accordance with the procedures set forth in the respective policies. The Company
shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable
as a result of such proceeding in accordance with the terms of such policies.

 

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

 

(d) The
Company shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable hereunder if and to the
extent that Indemnitee has otherwise actually received such payment under any insurance policy, contract, agreement or otherwise.

 

(e) The
Company’s obligation to indemnify or advance Expenses hereunder to Indemnitee who is or was serving at the request of the
Company as a director, officer, employee or agent of any other corporation, partnership, joint venture, trust, employee benefit
plan or other enterprise shall be reduced by any amount Indemnitee has actually received as indemnification or advancement of expenses
from such other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise.

 

9. Exception
to Right of Indemnification. Notwithstanding any provision in this Agreement, the Company shall not be obligated under this
Agreement to make any indemnity in connection with any claim made against Indemnitee:

 

(a) for
which payment has actually been made to or on behalf of Indemnitee under any insurance policy or other indemnity provision, except
with respect to any excess beyond the amount paid under any insurance policy or other indemnity provision, provided, that the foregoing
shall not affect the rights of Indemnitee set forth in Section 8(c) above; or

 

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

 

(c) in
connection with any Proceeding (or any part of any Proceeding) initiated by Indemnitee, including any Proceeding (or any part of
any Proceeding) initiated by Indemnitee against the Company or its directors, officers, employees or other indemnitees, unless
(i) the Board authorized the Proceeding (or any part of any Proceeding) prior to its initiation, or (ii) the Company provides the
indemnification, in its sole discretion, pursuant to the powers vested in the Company under applicable law.

 

    8

     

    

 

10. Duration
of Agreement. All agreements and obligations of the Company contained herein shall continue during the period Indemnitee is
an officer or director of the Company (or is or was serving at the request of the Company as a director, officer, employee or agent
of another corporation, partnership, joint venture, trust or other enterprise) and shall continue thereafter so long as Indemnitee
shall be subject to any Proceeding (or any proceeding commenced under Section 7 hereof) by reason of Indemnitee’s
Corporate Status, whether or not Indemnitee is acting or serving in any such capacity at the time, and any liability or expense
is incurred for which indemnification can be provided under this Agreement. This Agreement shall be binding upon and inure to the
benefit of and be enforceable by the parties hereto and their respective successors (including any direct or indirect successor
by purchase, merger, consolidation or otherwise to all or substantially all of the business or assets of the Company), assigns,
spouses, heirs, executors and personal and legal representatives.

 

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

 

12. Enforcement.

 

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

 

(b) Subject
to Section 8 above, this Agreement constitutes the entire agreement between the parties hereto with respect to the subject
matter hereof and supersedes all prior agreements and understandings, oral, written and implied, between the parties hereto with
respect to the subject matter hereof.

 

(c) The
Company shall not seek from a court, or agree to, a “bar order” which would have the effect of prohibiting or limiting
Indemnitee’s rights to receive advancement of expenses under this Agreement.

 

13. Definitions.
For purposes of this Agreement:

 

(a) “Beneficial
Owner” shall have the meaning given to such term in Rule 13d-3 under the Exchange Act; provided, however,
that for purposes of Section 6(b), Beneficial Owner shall exclude any Person otherwise becoming a Beneficial Owner by reason
of the stockholders of the Company approving a merger of the Company with another entity.

 

(b) “Corporate
Status” describes the status of a Person who is or was a director, officer, employee, agent or fiduciary of the Company
or of any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise that such Person is or
was serving at the express written request of the Company.

 

(c) “Disinterested
Director” means a director of the Company who is not and was not a party to the Proceeding in respect of which indemnification
is sought by Indemnitee.

 

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(d) “Enterprise”
shall mean the Company and any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise
that Indemnitee is or was serving at the express written request of the Company as a director, officer, employee, agent or fiduciary.

 

(e) “Expenses”
shall include all reasonable attorneys’ fees, retainers, court costs, transcript costs, fees of experts, witness fees, travel
expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees and all other disbursements
or expenses of the types customarily incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating,
participating, or being or preparing to be a witness in a Proceeding, or responding to, or objecting to, a request to provide discovery
in any Proceeding. Expenses also shall include Expenses of the type described in the preceding sentence incurred in connection
with any appeal resulting from any Proceeding, including the premium, security for, and other costs relating to any cost bond,
supersede as bond, or other appeal bond or its equivalent. Expenses, however, shall not include amounts paid in settlement by Indemnitee
or the amount of judgments or fines against Indemnitee.

 

(f) “Independent
Counsel” means a law firm, or a member of a law firm, that is experienced in matters of corporation law and neither presently
is, nor in the past five years has been, retained to represent (i) the Company or Indemnitee in any matter material to either such
party (other than with respect to matters concerning Indemnitee under this Agreement, or of other indemnitees under similar indemnification
agreements), or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the
foregoing, the term “Independent Counsel” shall not include any Person who, under the applicable standards of professional
conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine
Indemnitee’s rights under this Agreement. The Company agrees to pay the reasonable fees of the Independent Counsel referred
to above and to fully indemnify such counsel against any and all Expenses, claims, liabilities and damages arising out of or relating
to this Agreement or its engagement pursuant hereto.

 

(g) “Person”
shall have the meaning as set forth in Sections 13(d) and 14(d) of the Exchange Act; provided, however, that for purposes of Section
6(b), Person shall exclude (i) the Company, (ii) any trustee or other fiduciary holding securities under an employee benefit
plan of the Company and (iii) any corporation owned, directly or indirectly, by the stockholders of the Company in substantially
the same proportions as their ownership of stock of the Company. 

 

(h) “Proceeding”
means any threatened, pending or completed action, suit, arbitration, alternate dispute resolution mechanism, investigation, inquiry,
administrative hearing or any other actual, threatened or completed proceeding, whether brought by or in the right of the Company
or otherwise, and whether civil, criminal, administrative or investigative, in which Indemnitee was, is or will be involved as
a party or otherwise, by reason of Indemnitee’s Corporate Status, by reason of any action taken by Indemnitee or of any inaction
on Indemnitee’s part while acting in Indemnitee’s Corporate Status, in each case whether or not Indemnitee is acting
or serving in any such capacity at the time any liability or expense is incurred for which indemnification can be provided under
this Agreement, including one pending on or before the date of this Agreement, but excluding one initiated by an Indemnitee pursuant
to Section 7 of this Agreement to enforce Indemnitee’s rights under this Agreement.

 

14. Severability.
The invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability of any other provision.
Without limiting the generality of the foregoing, this Agreement is intended to confer upon Indemnitee indemnification rights to
the fullest extent permitted by applicable laws. In the event any provision hereof conflicts with any applicable law, such provision
shall be deemed modified, consistent with the aforementioned intent, to the extent necessary to resolve such conflict. 

 

    10

     

    

 

15. Modification
and Waiver. No supplement, modification, termination or amendment of this Agreement shall be binding unless executed in writing
by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver
of any other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver.

 

16. Notice
By Indemnitee. Indemnitee agrees promptly to notify the Company in writing upon being served with or otherwise receiving any
summons, citation, subpoena, complaint, indictment, information or other document relating to any Proceeding or matter which may
be subject to indemnification covered hereunder. The failure to so notify the Company shall not relieve the Company of any obligation
which it may have to Indemnitee under this Agreement or otherwise unless and only to the extent that such failure or delay materially
prejudices the Company.

 

17. Notices.
All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively
given (a) upon personal delivery to the party to be notified, (b) when sent by electronic mail or facsimile with affirmative confirmation
of receipt, (c) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid,
or (d) one (1) day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification
of receipt. All communications shall be sent: 

 

(a) To
Indemnitee at the address set forth below Indemnitee signature hereto.

 

(b) To
the Company at:

 

Akerna Corp.

1601 Arapahoe Street, Suite 900

Denver, CO 80202

Facsimile No.: (888) 932-6537

Telephone No.: (888) 932-6537

Email: jessica@mjfreeway.com

Attention: Jessica Billingsley

 

or to such other address
as may have been furnished to Indemnitee by the Company or to the Company by Indemnitee, as the case may be.

 

18. Counterparts.
This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original, but all of which together
shall constitute one and the same the same instrument. Counterparts may be delivered via facsimile,
electronic mail (including pdf or any electronic signature complying with the U.S.
federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and any
counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

 

19. Interpretation.
The headings of the paragraphs and subparagraphs of this Agreement are inserted for convenience only and shall not be deemed to
constitute part of this Agreement or to affect the construction thereof. In this Agreement: (i) whenever required by the context,
any pronoun used in this Agreement shall include the corresponding masculine, feminine or neuter forms, and the singular form of
nouns, pronouns and verbs shall include the plural and vice versa; (ii) the term “including” (and with correlative
meaning “include”) shall be deemed in each case to be followed by the words “without limitation”; and (iii)
the words “herein”, “hereto” and “hereby” and other words of similar import in this Agreement
shall be deemed in each case to refer to this Agreement as a whole and not to any particular portion of this Agreement.

 

    11

     

    

 

20. Governing
Law and Consent to Jurisdiction. This Agreement and the legal relations among the parties shall be governed by, and construed
and enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules. The Company and
Indemnitee hereby irrevocably and unconditionally (i) agree that any action or proceeding arising out of or in connection with
this Agreement shall be brought only in the Chancery Court of the State of Delaware (and any appellate court thereof) (the “Delaware
Court”), and not in any other state or federal court in the United States of America or any court in any other country,
(ii) consent to submit to the exclusive jurisdiction of the Delaware Court for purposes of any action or proceeding arising out
of or in connection with this Agreement, (iii) waive any objection to the laying of venue of any such action or proceeding in the
Delaware Court, and (iv) waive, and agree not to plead or to make, any claim that any such action or proceeding brought in the
Delaware Court has been brought in an improper or inconvenient forum.

 

{Signature Page Follows}

 

    12

     

    

 

IN WITNESS WHEREOF,
the parties hereto have executed this Indemnification Agreement on and as of the day and year first above written.

 

	 	AKERNA CORP. 
	 	 	 
	 	By:	                              
	 	Name:	 
	 	Title:	 
	 	 	 
	 	INDEMNITEE
	 	 	 
	 	 	 
	 	Name:	 
	 	 	 
	 	Address:	 
	 	 	 
	 	 	 
	 	 	 

 

[Signature Page to Indemnification Agreement]

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