Document:

infn_12262020exhibit1031

       TRANSITION AGREEMENT  This transition agreement (this “Agreement”) is made by and between Infinera Corporation  (the “Company”), and Thomas Fallon (“Executive”).  The Company and Executive are sometimes  collectively referred to herein as the “Parties” and individually referred to as a “Party.”  RECITALS  WHEREAS, Executive is employed by the Company as its Chief Executive Officer;  WHEREAS, Executive previously signed a Non-Disclosure Agreement effective as of  November 2, 2001 with the Company (the “Confidentiality Agreement”);  WHEREAS, Executive previously signed an Amended and Restated Change of Control  Severance Agreement with the Company effective as of February 16, 2018 (the “Severance  Agreement”), which, among other things, provides for certain severance benefits to be paid to  Executive by the Company upon the termination of Executive in connection with a Change of  Control (as defined in the Severance Agreement) of the Company;  WHEREAS, the Company and Executive have entered into Restricted Stock Unit  Agreements, granting Executive the right to receive awards of Restricted Stock Units (each such  award, an “RSU Award” and together, the “RSU Awards”), PSU Agreements, granting Executive  the right to receive awards of Performance Shares (each such award, a “PSU Award” and together,  the “PSU Awards”) and Option Agreements, granting Executive the right to purchase shares of  Company common stock (each an “Option” and together the “Options”), each subject to the terms  and conditions of the Company’s Amended and Restated 2016 Equity Incentive Plan (the “2016  Plan”) or 2007 Equity Incentive Plan (the “2007 Plan” and together with the 2016 Plan, the  “Plans”), as applicable, and the terms and conditions of the Restricted Stock Unit Agreements,  PSU Agreements, and Option Agreements, as applicable, related to the RSU Awards, PSU  Awards, and Options (collectively with the Plans, “Equity Award Documents”);  WHEREAS, Executive’s employment with the Company will terminate effective  February 1, 2021 (the “Termination Date”);   WHEREAS, subject to Executive’s fulfillment of the terms and conditions of this  Agreement, in consideration of Executive’s execution of this Agreement, Executive will be  entitled to the severance benefits set forth in Section 2 below; and  WHEREAS, the Parties wish to resolve any and all disputes, claims, complaints,  grievances, charges, actions, petitions and demands that Executive may have against the Company  and any of the Releasees (as defined below), including, but not limited to, any and all claims arising  out of or in any way related to Executive’s employment relationship with the Company and the  termination of that relationship.  NOW THEREFORE, for good and valuable consideration, including the mutual promises  and covenants made herein, the Company and Executive hereby agree as follows:  

 

   2      COVENANTS    1. Transition; Employment Termination Date; Employment Status.  (a) Transition.  Executive agrees that Executive will be deemed to have  resigned from all officer positions held at the Company and its affiliates voluntarily, without any  further required action by Executive, as of November 23, 2020.  From November 23, 2020,  through the Termination Date, the Parties agree that Executive will continue to be employed  pursuant to the current terms of his employment, including that he will continue to be paid his base  salary as in effect as of November 23, 2020, through the Termination Date, and will provide  advisory services to the Company in his role as Advisor, reporting to the Board of Directors of the  Company (the “Board”), and will provide services as reasonably requested by the Company’s  Chief Executive Officer; provided, however, that Executive acknowledges that he is not eligible  to receive any bonus relating to performance for or during the Company’s 2021 fiscal year.    (b) Termination Date.  Executive’s employment termination will occur on the  Termination Date.    (c) Board Service.  The Parties agree and acknowledge that following the  Termination Date, Executive will continue his role as a member of the Board.    2. Consideration. Subject to (1) Executive’s execution of this Agreement, (2)  Executive’s execution of the Supplemental Release (as defined herein) attached hereto as Exhibit  A, and (3) Executive’s fulfillment of all of the terms and conditions of this Agreement and the  Supplemental Release, including remaining employed in good standing through the Termination  Date, and provided that Executive does not revoke this Agreement under Section 6 below or the  Supplemental Release, Executive will receive the following consideration:  (a) Equity. On the Termination Date, but subject to the effectiveness of this  Agreement as provided herein and to the provisions of Section 24 and the satisfaction of any tax  withholding requirements, vesting of Executive’s outstanding RSU Awards will accelerate in full.   Except for Executive’s PSU Award with Grant No. 00017902 granted on Feb. 15, 2018 (“PSU  Award 17902”), which will remain outstanding following the Termination Date, all of Executive’s  unvested PSU Awards as of the Termination Date will terminate and Executive will not vest in  such PSU Awards thereafter.  Shares under PSU Award 17902 will become “Eligible Shares” (as  defined therein) to the extent that the performance criterion is achieved for the performance period  ending December 31, 2020, as measured and certified by the Compensation Committee of the  Board, and Executive will vest in such Eligible Shares upon his satisfaction of the service-based  vesting requirements on May 5, 2021.  The Options will continue in effect following the  Termination Date pursuant to their terms and conditions and will expire on February 10, 2021,  unless exercised by Executive prior to that date.  This Agreement acts as an amendment to the  Equity Award Documents and to the extent not modified by this Agreement, the RSU Awards,  PSU Awards and Options will continue to be governed by the terms and conditions of the  applicable Equity Award Documents.  

 

   3    (b) General.  Executive acknowledges that without this Agreement, he is  otherwise not entitled to the consideration listed in this Section 2.  3. Supplemental Release.  In exchange for the consideration set forth in Section 2,  Executive agrees to execute, within the time period specified therein, a Supplemental Release  Agreement in the form attached hereto as Exhibit A (the “Supplemental Release”), which will  bridge the gap and cover the time period from the Effective Date of this Agreement through the  Supplemental Effective Date (as defined in the Supplemental Release); provided, however, the  Parties agree to modify the Supplemental Release to comply with any new laws that may become  applicable during that period.    4. Payment of Salary and Receipt of All Benefits.  Executive acknowledges and  represents that, other than the consideration to be paid in accordance with the terms and conditions  of this Agreement and Executive’s final wages, including any accrued vacation/paid time off,  which will be paid on the Termination Date, the Company has paid or provided all salary, wages,  bonuses, accrued vacation/paid time off, premiums, leaves, housing allowances, relocation costs,  interest, severance, outplacement costs, fees, reimbursable expenses, commissions, draws, stock,  other equity awards (including RSU Awards, PSU Awards and Options), vesting, and any and all  other benefits and compensation due to Executive and that no other reimbursements or  compensation are owed to Executive.  5. Release of Claims.  Executive agrees that the consideration to be paid in accordance  with the terms and conditions of this Agreement represents settlement in full of all outstanding  obligations owed to Executive by the Company and its current and former officers, directors,  employees, agents, investors, attorneys, stockholders, administrators, affiliates, benefit plans, plan  administrators, insurers, trustees, divisions, and subsidiaries, and predecessor and successor  corporations and assigns (collectively, the “Releasees”).  Executive, on Executive’s own behalf  and on behalf of Executive’s respective heirs, family members, executors, agents, and assigns,  hereby and forever releases the Releasees from, and agrees not to sue concerning, or in any manner  to institute, prosecute, or pursue, any claim, complaint, charge, duty, obligation, demand, or cause  of action relating to any matters of any kind, whether presently known or unknown, suspected or  unsuspected, that Executive may possess against any of the Releasees arising from any omissions,  acts, facts, or damages that have occurred up until and including the Effective Date of this  Agreement, including, without limitation the following:  (a) any and all claims relating to or arising from Executive’s employment  relationship with the Company and the termination of that relationship, including claims under any  offer letter, employment agreement, or other agreement with the Company, including, but not  limited to, the Severance Agreement;   (b) any and all claims relating to, or arising from, Executive’s right to purchase,  or actual purchase of, shares of stock of the Company, including, without limitation, any claims  for fraud, misrepresentation, breach of fiduciary duty, breach of duty under applicable state  corporate law, and securities fraud under any state or federal law;   (c) any and all claims for wrongful discharge of employment; termination in  violation of public policy; discrimination; harassment; retaliation; breach of contract, both express  

 

   4    and implied; breach of covenant of good faith and fair dealing, both express and implied;  promissory estoppel; negligent or intentional infliction of emotional distress; fraud; negligent or  intentional misrepresentation; negligent or intentional interference with contract or prospective  economic advantage; unfair business practices; defamation; libel; slander; negligence; personal  injury; assault; battery; invasion of privacy; false imprisonment; conversion; and disability  benefits;  (d) any and all claims for violation of any federal, state, or municipal statute,  including, but not limited to, Title VII of the Civil Rights Act of 1964; the Civil Rights Act of  1991; the Rehabilitation Act of 1973; the Americans with Disabilities Act of 1990; the Equal Pay  Act; the Fair Labor Standards Act; the Fair Credit Reporting Act; the Age Discrimination in  Employment Act of 1967; the Older Workers Benefit Protection Act; the Executive Retirement  Income Security Act of 1974; the Worker Adjustment and Retraining Notification Act; the Family  and Medical Leave Act; the Sarbanes-Oxley Act of 2002; the Immigration Control and Reform  Act; the California Family Rights Act; the California Labor Code; the California Workers’  Compensation Act; the California Fair Employment and Housing Act; the Unruh Civil Rights Act;  the California Equal Pay Law; the California Unfair Business Practices Act; and the California  Worker Adjustment and Retraining Notification Act;  (e) any and all claims for violation of the federal, or any state, constitution;   (f) any and all claims arising out of any other laws and regulations relating to  employment or employment discrimination;  (g) any claim for any loss, cost, damage, or expense arising out of any dispute  over the non-withholding or other tax treatment of any of the proceeds received by Executive as a  result of this Agreement; and  (h) any and all claims for attorneys’ fees and costs.  Executive agrees that the release set forth in this Section 5 (the “Release”) will be and remain in  effect in all respects as a complete general release as to the matters released.  The Release does not  extend to any severance obligations due Executive under the Agreement.  The Release does not  release claims that cannot be released as a matter of law, including, but not limited to, Executive’s  right to file a charge with or participate in a charge by the Equal Employment Opportunity  Commission, or any other local, state, or federal administrative body or government agency that  is authorized to enforce or administer laws related to employment, against the Company (with the  understanding that any such filing or participation does not give Executive the right to recover any  monetary damages against the Company; Executive’s release of claims herein bars Executive from  recovering such monetary relief from the Company).  Executive represents that Executive has  made no assignment or transfer of any right, claim, complaint, charge, duty, obligation, demand,  cause of action, or other matter waived or released by this Section 5.  Nothing in this Agreement  waives Executive’s rights to indemnification or any payments under any fiduciary insurance  policy, if any, provided by any act or agreement of the Company, state or federal law or policy of  insurance.  

 

   5    6. Acknowledgment of Waiver of Claims under ADEA.  Executive acknowledges that  Executive is waiving and releasing any rights Executive may have under the Age Discrimination  in Employment Act of 1967 (“ADEA”) and that this waiver and release is knowing and voluntary.  Executive agrees that this waiver and release does not apply to any rights or claims that may arise  under the ADEA after the Effective Date of this Agreement.  Executive acknowledges that the  consideration given for this waiver and release is in addition to anything of value to which  Executive was already entitled.  Executive further acknowledges that Executive has been advised  by this writing that (a) Executive should consult with an attorney prior to executing this  Agreement; (b) Executive has at least twenty-one (21) days within which to consider this  Agreement; (c) Executive has seven (7) days following the execution of this Agreement by the  Parties to revoke this Agreement; (d) this Agreement will not be effective until the revocation  period has expired; and (e) nothing in this Agreement prevents or precludes Executive from  challenging or seeking a determination in good faith of the validity of this waiver under the ADEA,  nor does it impose any condition precedent, penalties or costs for doing so, unless specifically  authorized by federal law.  In the event Executive signs this Agreement and delivers it to the  Company in less than the twenty-one (21)-day period identified above, Executive hereby  acknowledges that Executive has freely and voluntarily chosen to waive the time period allotted  for considering this Agreement.  Executive acknowledges and understands that revocation must  be accomplished by a written notification to the Chief Legal Officer of the Company that is  received prior to the Effective Date.  The Parties agree that changes, whether material or  immaterial, do not restart the running of the twenty-one (21)-day period.   7. California Civil Code Section 1542.  Executive acknowledges that Executive has  been advised to consult with legal counsel and is familiar with the provisions of California Civil  Code Section 1542, a statute that otherwise prohibits the release of unknown claims, which  provides as follows:  A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH  THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS  OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE,  WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY  AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.  Executive, being aware of California Civil Code Section 1542, agrees to expressly waive any rights  Executive may have thereunder, as well as under any other statute or common law principles of  similar effect.  8. No Pending or Future Lawsuits.  Executive represents that Executive has no  lawsuits, claims, or actions pending in Executive’s name, or on behalf of any other person or entity,  against the Company or any of the other Releasees.  Executive also represents that Executive does  not intend to bring any claims on Executive’s own behalf or on behalf of any other person or entity  against the Company or any of the other Releasees.    9. Sufficiency of Consideration.  Executive hereby acknowledges and agrees that  Executive has received good and sufficient consideration for every promise, duty, release,  obligation, agreement and right contained in this Release.  

 

   6    10. Confidential Information.  Subject to Section 26 governing Protected Activity,  Executive reaffirms and agrees to observe and abide by the terms of the Confidentiality  Agreement, specifically including the provisions therein regarding nondisclosure of the  Company’s trade secrets and confidential and proprietary information, which agreement will  continue in force.  11. Indemnification Agreement.  Executive will execute the Company’s current form  of indemnification agreement (the “New Indemnification Agreement”), which will replace in its  entirety the Indemnification Agreement dated as of April 12, 2004 between Executive and the  Company.  12. Return of Company Property.  No later than the Termination Date, Executive  confirms that Executive will return to the Company all Company property not necessary for  Executive to perform services as a member of the Board.    13. No Cooperation.  Subject to Section 26 governing Protected Activity, Executive  agrees that Executive will not knowingly encourage, counsel, or assist any attorneys or their clients  in the presentation or prosecution of any disputes, differences, grievances, claims, charges, or  complaints by any third party against any of the Releasees, unless under a subpoena or other court  order to do so or as related directly to the ADEA waiver in this Agreement.  Executive agrees both  to immediately notify the Company upon receipt of any such subpoena or court order, and to  furnish, within three (3) business days of its receipt, a copy of such subpoena or other court order.   If approached by anyone for counsel or assistance in the presentation or prosecution of any  disputes, differences, grievances, claims, charges, or complaints against any of the Releasees,  Executive will state no more than that Executive cannot provide any such counsel or assistance.  14. Nondisparagement.  Executive agrees that Executive will not in any way, directly  or indirectly, do or say anything at any time which disparages the Company, its business interests  or reputation, or that of any of the other Releasees.  15. No Admission of Liability.  Executive understands and acknowledges that this  Agreement constitutes a compromise and settlement of any and all actual or potential disputed  claims by Executive.  No action taken by the Company hereto, either previously or in connection  with this Agreement, will be deemed or construed to be (a) an admission of the truth or falsity of  any actual or potential claims or (b) an acknowledgment or admission by the Company of any fault  or liability whatsoever to Executive or to any third party.  16. Costs.  The Parties will each bear their own costs, attorneys’ fees and other fees  incurred in connection with the preparation of this Agreement.  17. Taxes; Section 409A.  Executive agrees and understands that he is responsible for  payment, if any, of personal local, personal state, and/or personal federal taxes on the payments  and any other consideration provided hereunder by the Company and any penalties or assessments  thereon.  It is intended that none of the payments or benefits under this Agreement will constitute  deferred compensation under Section 409A of the Internal Revenue Code of 1986, as amended,  any final regulations and guidance under that statute, and any applicable state law equivalent, as  each may be amended or promulgated from time to time (“Section 409A”), but rather such  

 

   7    payments and benefits will be exempt from Section 409A as payable only within the “short-term  deferral period” pursuant to Treasury Regulation Section 1.409A-1(b)(4), or otherwise be exempt  or comply with Section 409A so that none of the payments to be provided under this Agreement  will be subject to the additional tax imposed under Section 409A, and any ambiguities or  ambiguous terms will be interpreted in such manner.  In order to comply with the “short-term  deferral” exception from Section 409A, in no event will the Severance be paid later than March  15, 2019.  Each payment and benefit payable under this Agreement or otherwise is intended to  constitute a separate payment under Treasury Regulation Section 1.409A-2(b)(2).   Notwithstanding the foregoing, in the unlikely event that it is necessary to avoid subjecting  Executive to an additional tax under Section 409A, payment of all or a portion of the separation- related payments or benefits payable under this Agreement and any other separation-related  deferred compensation (within the meaning of Section 409A) payable to Executive will be delayed  until the date that is six (6) months and one (1) day following Executive’s separation from service  (within the meaning of Section 409A), except that in the event of Executive’s death, any such  delayed payments will be paid as soon as practicable after the date of Executive’s death.  In no  event will the Company reimburse Executive for any taxes that may be imposed on Executive as  a result of Section 409A. In no event will Executive have discretion to determine the taxable year  of payment of any severance payments.  18. Authority.  The Company represents and warrants that the undersigned has the  authority to act on behalf of the Company and to bind the Company and all who may claim through  it to the terms and conditions of this Agreement.  Executive represents and warrants that Executive  has the capacity to act on Executive’s own behalf and on behalf of all who might claim through  Executive to bind them to the terms and conditions of this Agreement.  Each Party warrants and  represents that there are no liens or claims of lien or assignments in law or equity or otherwise of  or against any of the claims or causes of action released herein.  19. No Representations.  Executive represents that Executive has had the opportunity  to consult with an attorney, and has carefully read and understands the scope and effect of the  provisions of this Agreement.  Executive has not relied upon any representations or statements  made by the Company that are not specifically set forth in this Agreement.  20. Severability.  In the event that any provision or any portion of any provision hereof  or any surviving agreement made a part hereof becomes or is declared by a court of competent  jurisdiction or arbitrator to be illegal, unenforceable, or void, this Agreement will continue in full  force and effect without said provision or portion of provision.  21. Entire Agreement.  This Agreement (including the Supplemental Release)  represents the entire agreement and understanding between the Company and Executive  concerning the subject matter of this Agreement and Executive’s employment with and separation  from the Company and the events leading thereto and associated therewith, and supersedes and  replaces any and all prior agreements and understandings concerning the subject matter of this  Agreement and Executive’s relationship with the Company, with the exception of the Equity  Award Documents (as modified by this Agreement), the Confidentiality Agreement and the New  Indemnification Agreement.  

 

   8    22. No Oral Modification.  This Agreement may only be amended in writing signed by  Executive and the Chairman of the Board of Directors of the Company.  23. Governing Law.  This Agreement will be governed by the laws of the State of  California, without regard for choice-of-law provisions.  Executive consents to personal and  exclusive jurisdiction and venue in the State of California.  24. Effective Date.  Executive understands that this Agreement will be null and void if  not executed by Executive within twenty-one (21) days from the date this Agreement is presented  to Executive.   Each Party has seven (7) days after that Party signs this Agreement to revoke it.   This Agreement will become effective on the eighth (8th) day after Executive signed this  Agreement, so long as it has been signed by the Parties and has not been revoked by either Party  before that date (the “Effective Date”).  25. Counterparts.  This Agreement may be executed in counterparts and by facsimile,  and each counterpart and facsimile will have the same force and effect as an original and will  constitute an effective, binding agreement on the part of each of the undersigned.  26. Protected Activity Not Prohibited.   Executive understands that nothing in this  Agreement shall in any way limit or prohibit Executive from engaging for a lawful purpose in any  Protected Activity.  For purposes of this Agreement, “Protected Activity” shall mean filing a  charge or complaint, or otherwise communicating, cooperating, or participating with, any state,  federal, or other governmental agency, including the Securities and Exchange Commission, the  Equal Employment Opportunity Commission, and the National Labor Relations Board  (“Government Agencies”).  Executive understands that in connection with such Protected  Activity, Executive is permitted to disclose documents or other information as permitted by law,  and without giving notice to, or receiving authorization from, the Company.  Notwithstanding the  foregoing, Executive agrees to take all reasonable precautions to prevent any unauthorized use or  disclosure of any information that may constitute Company confidential information under the  Confidentiality Agreement to any parties other than the Government Agencies.  Executive further  understands that “Protected Activity” does not include the disclosure of any Company attorney- client privileged communications, and that any such disclosure without the Company’s written  consent shall constitute a material breach of this Agreement.  Any language in the Confidentiality  Agreement regarding Executive’s right to engage in Protected Activity that conflicts with, or is  contrary to, this paragraph is superseded by this Agreement.  In addition, pursuant to the Defend  Trade Secrets Act of 2016, Executive is notified that an individual will not be held criminally or  civilly liable under any federal or state trade secret law for the disclosure of a trade secret that (i)  is made in confidence to a federal, state, or local government official (directly or indirectly) or to  an attorney solely for the purpose of reporting or investigating a suspected violation of law, or (ii)  is made in a complaint or other document filed in a lawsuit or other proceeding, if (and only if)  such filing is made under seal.  In addition, an individual who files a lawsuit for retaliation by an  employer for reporting a suspected violation of law may disclose the trade secret to the individual’s  attorney and use the trade secret information in the court proceeding, if the individual files any  document containing the trade secret under seal and does not disclose the trade secret, except  pursuant to court order.  

 

   9    27. Use of Likeness.  Executive irrevocably grants the Company perpetual, worldwide  permission to use Executive’s image, likeness, and sound of Executive’s voice for promotion of  the Company and/or its products, as previously recorded on photograph, audio, or video for that  purpose.    28. Voluntary Execution of Agreement.  Executive understands and agrees that  Executive executed this Agreement voluntarily, without any duress or undue influence on the part  or behalf of the Company or any third party, with the full intent of releasing all of Executive’s  claims against the Company and any of the other Releasees.  Executive expressly acknowledges  that:  (a) Executive has read this Agreement;  (b) Executive has been represented in the preparation, negotiation, and  execution of this Agreement by legal counsel of Executive’s own choice or  has elected not to retain legal counsel;  (c) Executive understands the terms and consequences of this Agreement and  of the releases it contains; and  (d) Executive is fully aware of the legal and binding effect of this Agreement.  * * * * *     

 

IN WITNESS WHEREOF, the Parties have executed this Agreement on the respective  dates set forth below.  COMPANY    INFINERA CORPORATION    By: /s/ David L. Teichmann        Name: David L. Teichmann       Title: Chief Legal Officer + Corp. Secretary       Dated: Nov. 21, 2020    EXECUTIVE   THOMAS FALLON, an individual    /s/ Thomas Fallon        Dated:11-21-20              

 

        Exhibit A  SUPPLEMENTAL RELEASE AGREEMENT  This Supplemental Release Agreement (“Supplemental Release”) is made by and between Thomas  Fallon (“Executive”) and Infinera Corporation (the “Company”)  (collectively referred to as the “Parties”  or individually referred to as a “Party”).  1. Consideration; Acknowledgment of Receipt of All Compensation.  In consideration for the  separation payments and benefits set forth in Section 2 of the Transition Agreement to which this  Supplemental Release was attached as an exhibit (the “Transition Agreement”), Executive hereby extends  Executive’s release and waiver of claims in Section 5 of the Transition Agreement to any claims that may  have arisen between the date Executive signed the Transition Agreement and the date Executive signs this  Supplemental Release, as well as any claims under the Age Discrimination in Employment Act of 1967 and  the Older Workers Benefit Protection Act.  Executive acknowledges and represents that the Company and  its agents have paid or provided all salary, wages, bonuses, accrued vacation/paid time off, premiums,  leaves, housing allowances, relocation costs, interest, severance, outplacement costs, fees, reimbursable  expenses, commissions, stock, stock options, vesting, and any and all other benefits and compensation due  to Executive.  2. Acknowledgment of Waiver of Claims under ADEA.  Executive understands and  acknowledges that Executive is waiving and releasing any rights Executive may have under the Age  Discrimination in Employment Act of 1967 (“ADEA”), and that this waiver and release is knowing and  voluntary.  Executive understands and agrees that this waiver and release does not apply to any rights or  claims that may arise under the ADEA after the date Executive signs this Supplemental Release.  Executive  understands and acknowledges that the consideration given for this waiver and release is in addition to  anything of value to which Executive was already entitled.  Executive further understands and  acknowledges that Executive has been advised by this writing that: (a) Executive should consult with an  attorney prior to executing this Supplemental Release; (b) Executive has twenty-one (21) days within which  to consider this Supplemental Release; (c) Executive has seven (7) days following Executive’s execution  of this Supplemental Release to revoke this Supplemental Release; (d) this Supplemental Release shall not  be effective until after the revocation period has expired; and (e) nothing in this Supplemental Release or  the Transition Agreement prevents or precludes Executive from challenging or seeking a determination in  good faith of the validity of this waiver under the ADEA, nor does it impose any condition precedent,  penalties, or costs for doing so, unless specifically authorized by federal law.  In the event Executive signs  this Supplemental Release and returns it to the Company in less than the 21-day period identified above,  Executive hereby acknowledges that Executive has freely and voluntarily chosen to waive the time period  allotted for considering this Supplemental Release.  Executive acknowledges and understands that any  revocation of this Supplemental Release must be accomplished by a written notification to the person  executing this Supplemental Release on the Company’s behalf that is received prior to the Supplemental  Effective Date.  The Parties agree that changes, whether material or immaterial, do not restart the running  of the 21-day period.   3. Incorporation of Terms of Transition Agreement.  The Parties further acknowledge that the  terms of the Transition Agreement shall apply to this Supplemental Release and are incorporated herein to  the extent that they are not inconsistent with the express terms of this Supplemental Release.  4. Return of Property.  Executive’s signature below constitutes Executive’s certification  under penalty of perjury that Executive has returned all documents and other items provided to Executive  

 

   2    by the Company, developed or obtained by Executive in connection with Executive’s employment with the  Company, or otherwise belonging to the Company (whether physical, electronic, or otherwise), including  but not limited to any computer, laptop, tablet, mobile phone, or other device; remote access device; security  badge or other access device or mechanism; hard drive, thumb drive, or other storage device; garage pass;  or any other hardware, software, or other item of Company property, as well as all passwords to any  software or other programs or data that Executive used in performing services for the Company; and  Executive further certifies that Executive has searched all of Executive’s physical and electronic property  for such property and information and that Executive has not retained, and has returned to the Company,  any such property or information (including any electronic or archival copies that may be incidentally  retained).   5. Supplemental Release Effective Date. Executive understands that this Supplemental  Release shall be null and void (i) if executed by Executive before the Termination Date (as defined in the  Transition Agreement), (ii) if executed by Executive before the Transition Agreement becomes effective,  or (iii) if not executed by Executive within twenty-one (21) days following the Termination Date (as defined  in the Transition Agreement).  Each Party has seven (7) days after that Party signs this Supplemental  Release to revoke it.  This Supplemental Release will become effective on the eighth (8th) day after  Executive signed this Supplemental Release, so long as it has been signed by the Parties and has not been  revoked by either Party before that date (the “Supplemental Effective Date”).  The Company will provide  Executive with the consideration provided by Section 2 of the Transition Agreement in accordance with  the terms of that agreement.    6. No Admission of Liability.  Executive understands and acknowledges that this  Supplemental Release constitutes a compromise and settlement of any and all actual or potential disputed  claims by Executive.  No action taken by the Company, either previously or in connection with this  Supplemental Release, shall be deemed or construed to be (a) an admission of the truth or falsity of any  actual or potential claims or (b) an acknowledgment or admission by the Company of any fault or liability  whatsoever to Executive or to any third party.  7. Authority.  The Company each represent and warrant that the undersigned has the authority  to act on behalf of the Company and to bind the Company and all who may claim through it to the terms  and conditions of this Supplemental Release.  Executive represents and warrants that Executive has the  capacity to act on Executive’s own behalf and on behalf of all who might claim through Executive to bind  them to the terms and conditions of this Supplemental Release.  Each Party warrants and represents that  there are no liens or claims of lien or assignments in law or equity or otherwise of or against any of the  claims or causes of action released herein.  8. Voluntary Execution of Agreement. Executive understands and agrees that Executive  executed this Supplemental Release voluntarily, without any duress or undue influence on the part or behalf  of the Company or any third party, with the full intent of releasing all of Executive’s claims against any of  the Releasees.  Executive acknowledges that:  (a) Executive has read this Supplemental Release;  (b) Executive (i) has until twenty-one (21) days from the Termination Date (as defined  in the Transition Agreement) to sign this Supplemental Release, and (ii) Executive  cannot sign this Supplemental Release before the Termination Date (as defined in  the Transition Agreement);  

 

   3    (c) Executive has been represented in the preparation, negotiation, and execution of  this Supplemental Release by legal counsel of Executive’s own choice or has  elected not to retain legal counsel;  (d) Executive understands the terms and consequences of this Supplemental Release  and of the releases it contains;   (e) Executive has not relied upon any representations or statements made by the  Company that are not specifically set forth in this Supplemental Release or in the  Transition Agreement; and  (f) Executive is fully aware of the legal and binding effect of this Supplemental  Release.  IN WITNESS WHEREOF, the Parties have executed this Supplemental Release on the respective  dates set forth below.    THOMAS FALLON, an individual  Dated:  ______________     Thomas Fallon  INFINERA CORPORATION  Dated:  _______________ By:     Name:  Title:Exhibit
10.1

 

COMMON
STOCK PURCHASE AGREEMENT

 

This
Common Stock Purchase Agreement (the “Agreement”), dated as of February 25, 2021 (the “Execution Date”),
is entered into between RocketFuel Blockchain, Inc., a Nevada corporation (the “Company”), and TRITON FUNDS LP, a
Delaware limited partnership (the “Investor”).

 

RECITALS:

 

WHEREAS,
upon the terms and subject to the conditions contained herein, the Investor shall purchase up to One Million Dollars ($1,000,000)
of Securities after a Registration Statement is declared effective by the Securities and Exchange Commission;

 

NOW
THEREFORE, in consideration of the foregoing recitals, which shall be considered an integral part of this Agreement, the covenants
and agreements set forth hereafter, and other good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the Company and the Investor hereby agree as follows:

 

SECTION
I

DEFINITIONS

 

For
all purposes of and under this Agreement, the following terms shall have the respective meanings below, and such meanings shall
be equally applicable to the singular and plural forms of such defined terms.

 

“Administrative
Fee” shall mean a $15,000 payment transferred by the Company to the Investor on the no later than the Execution Date.

 

“Business
Day” shall mean any day on which the Principal Market for the Common Stock is open for trading from the hours of 9:30 am
until 4:00 pm eastern time.

 

“Closing”
shall mean a date that is no later than five (5) Business Days after the Purchase Notice Date.

 

“Commitment
Period” shall mean the period beginning on the Execution Date and ending on the expiration of this Agreement.

 

“Principal
Market” shall mean the New York Stock Exchange, the NYSE Amex, the Nasdaq Capital Market, the Nasdaq Global Market, the
Nasdaq Global Select Market or the OTC Markets, whichever is the market on which the Common Stock is listed.

 

“Purchase
Notice” shall mean a written notice sent to the Investor by the Company stating the number of Securities that the Company
intends to sell to the Investor pursuant to the terms of this Agreement.

 

“Investment
Amount” shall mean the Securities in a Purchase Notice multiplied by the greater of $1.65 or eighty percent (80%) of the
lowest closing price of the common stock within fifteen Business Days prior to the Closing; not to exceed $500,000 per Purchase
Notice.

 

“Registration
Statement” means the registration statement covering the Securities; which the Company shall use commercially reasonable
best efforts to file as soon as practicable the Execution Date.

 

“Securities”
shall mean the shares of common stock issued pursuant to the terms of this Agreement.

 

SECTION
II

PURCHASE
AND SALE OF SECURITIES

 

2.1
PURCHASE AND SALE OF SECURITIES. Subject to the terms and conditions set forth herein, the Company shall sell to the Investor,
and the Investor shall purchase from the Company, a number of Securities having an aggregate value of up to One Million Dollars
($1,000,000).

 

    	 

     

    

 

2.2
DELIVERY OF PURCHASE NOTICES. Subject to the terms and conditions herein, and from time to time during the Commitment Period,
the Company may, in its sole discretion, deliver a Purchase Notice to the Investor which states the amount of Securities which
the Company intends to sell to the Investor on a Closing. The Purchase Notice shall be in the form attached hereto and incorporated
herein by reference. During the Commitment Period, the Company shall not submit a Purchase Notice until 30 Business Days have
passed since the previous Closing.

 

2.3
CONDITIONS TO INVESTOR’S OBLIGATION TO PURCHASE SECURITIES. Notwithstanding anything to the contrary in this Agreement,
the Company shall not be entitled to deliver a Purchase Notice and the Investor shall not be obligated to purchase any Securities
at a Closing unless each of the following conditions are satisfied:

 

	 	i.	the
    Registration Statement shall remain effective and available at all times;
	 	 	 
	 	ii.	at
    all times during the period beginning on the related Purchase Notice and ending on and including the related Closing, the
    common stock shall have been listed or quoted for trading on the Principal Market and shall not have been suspended from trading
    during the Commitment Period and the Company shall not have been notified of any pending or threatened proceeding or other
    action to suspend the trading of the Company common stock;
	 	 	 
	 	iii.	the
    Company has complied with its obligations and is otherwise not in breach of or in default under, this Agreement or any other
    agreement executed between the parties, which has not been cured prior to delivery of Purchase Notice;
	 	 	 
	 	iv.	no
    injunction shall have been issued and remain in force, or action commenced by a governmental authority which has not been
    stayed or abandoned, prohibiting the purchase or the issuance of the Securities; and
	 	 	 
	 	v.	the
    issuance of the Securities will not violate any requirements of the Principal Market.
	 	 	 
	 	vi.	the
    Investor may elect to reduce the number of securities purchased under a Purchase Notice and the related Investment Amount
    if the lowest closing price is below $1.65 anytime within fifteen Business Days prior to the related Closing Date.

 

If
any of the events described in clauses (i) through (v) above occurs prior to, or at the Closing, then the Investor shall have
no obligation to purchase the Securities set forth in the applicable Purchase Notice.

 

2.4
MECHANICS OF PURCHASE OF SECURITIES BY INVESTOR. The Closing of a Purchase Notice shall occur no later than the five Business
Days following receipt of Securities by Investor’s custodian (the “Purchase Notice Date”). The Investor shall
deliver the Investment Amount by wire transfer of immediately available funds to an account designated by the Company. In addition,
on or prior to such Closing, each of the Company and Investor shall deliver to each other all documents, instruments and writings
required to be delivered or reasonably requested by either of them pursuant to this Agreement in order to implement and effect
the transactions contemplated herein.

 

2.5
LIMITATION ON AMOUNT OF OWNERSHIP. Notwithstanding anything to the contrary in this Agreement, in no event shall the Investor
be entitled to purchase that number of Securities, which when added to the sum of the number of shares of Company common stock
beneficially owned (as such term is defined under Section 13(d) and Rule 13d-3 of the 1934 Act), by the Investor, would exceed
4.99% of the number of shares of common stock outstanding on Purchase Notice Date, as determined in accordance with Rule 13d-1(j)
of the 1934 Act.

 

SECTION
III

INVESTOR’S
REPRESENTATIONS, WARRANTIES AND COVENANTS

 

3.1
NO SHORT SALES. No short sales or engage in other hedging activity shall be permitted by the Investor or its affiliates
during the Commitment Period.

 

    	 

     

    

 

3.2
INVESTMENT REPRESENTATION. The Investor is acquiring the Securities for its own account with the present intention of holding
the Securities for investment purposes and not with a view to or for sale in connection with any public distribution of the Securities
in violation of any federal or state securities laws. The Investor has such knowledge and experience in financial and business
matters that it is capable of evaluating the merits and risks of an investment in the Securities.

 

3.3
ORGANIZATION. The Investor is a limited partnership duly organized and validly existing in good standing under the laws
of the State of Delaware and has the requisite partnership power and authorization to own its properties and to carry on its business
as now being conducted.

 

3.4
AUTHORIZATION; ENFORCEMENT; COMPLIANCE WITH OTHER INSTRUMENTS.

 

	 	i.	The
    Investor has the requisite partnership power and authority to enter into the Agreement and to purchase the Securities in accordance
    with the terms hereof.
	 	 	 
	 	ii.	The
    execution and delivery of the Agreement by the Investor and the consummation by it of the transactions contemplated hereby
    and thereby, including without limitation the purchase of the Securities pursuant to this Agreement, have been duly and validly
    authorized by the Investor’s general partners and no further consent or authorization is required by the Investor or
    its general or limited partners.
	 	 	 
	 	iii.	The
    Agreement has been duly and validly executed and delivered by the Investor.
	 	 	 
	 	iv.	The
    Agreement constitutes the valid and binding obligations of the Investor enforceable against the Investor in accordance with
    their its, except as such enforceability may be limited by general principles of equity or applicable bankruptcy, insolvency,
    reorganization, moratorium, liquidation or similar laws relating to, or affecting generally, the enforcement of creditors’
    rights and remedies.

 

3.5
NO BROKERS. No person or entity had, has or will have, as a result of the transactions contemplated by this Agreement, any right,
interest or valid claim against or upon the Company or the Investor for any commission, fee or other compensation as a finder
or broker because of any act or omission by the Investor or any of its agents.

 

SECTION
IV

REPRESENTATIONS
AND WARRANTIES OF THE COMPANY

 

Except
as disclosed on the Company’s SEC Documents, the Company represents and warrants to the Investor that:

 

4.1
ORGANIZATION AND QUALIFICATION. The Company is a corporation duly organized and validly existing in good standing under
the laws of the State of Nevada, and has the requisite corporate power and authorization to own its properties and to carry on
its business as now being conducted. Both the Company and the companies it owns or controls (“Subsidiaries”) are duly
qualified to do business and are in good standing in every jurisdiction in which its ownership of property or the nature of the
business conducted by it makes such qualification necessary, except to the extent that the failure to be so qualified or be in
good standing would not have a Material Adverse Effect. As used in this Agreement, “Material Adverse Effect” means
a change, event, circumstance, effect or state of facts that has had or is reasonably likely to have, a material adverse effect
on the business, properties, assets, operations, results of operations, financial condition or prospects of the Company and its
Subsidiaries, if any, taken as a whole, or on the transactions contemplated hereby or by the agreements and instruments to be
entered into in connection herewith, or on the authority or ability of the Company to perform its obligations under the Agreement.

 

    	 

     

    

 

4.2
AUTHORIZATION; ENFORCEMENT; COMPLIANCE WITH OTHER INSTRUMENTS.

 

	 	i.	The
    Company has the requisite corporate power and authority to enter into the Agreement and to issue the Securities in accordance
    with the terms hereof.
	 	 	 
	 	ii.	The
    execution and delivery of the Agreement by the Company and the consummation by it of the transactions contemplated hereby
    and thereby, including without limitation the issuance of the Securities pursuant to this Agreement, have been duly and validly
    authorized by the Company’s Board of Directors and no further consent or authorization is required by the Company, its
    Board of Directors, or its shareholders.
	 	 	 
	 	iii.	The
    Agreement has been duly and validly executed and delivered by the Company.
	 	 	 
	 	iv.	The
    Agreement constitutes the valid and binding obligations of the Company enforceable against the Company in accordance with
    its terms, except as such enforceability may be limited by general principles of equity or applicable bankruptcy, insolvency,
    reorganization, moratorium, liquidation or similar laws relating to, or affecting generally, the enforcement of creditors’
    rights and remedies.

 

4.3
ISSUANCE OF SECURITIES. The Company has reserved the amount of Securities included in the Company’s registration
statement for issuance pursuant to the Agreement, which have been duly authorized and reserved (subject to adjustment pursuant
to the Company’s covenant set forth in Section 5.5 below) pursuant to this Agreement. Upon issuance in accordance
with this Agreement, the Securities will be validly issued, fully paid for and non-assessable and free from all taxes, liens and
charges with respect to the issuance thereof. In the event the Company cannot register a sufficient number of Securities for issuance
pursuant to this Agreement, the Company will use its best efforts to authorize and reserve for issuance the number of Securities
required for the Company to perform its obligations hereunder as soon as reasonably practicable.

 

4.4
INSURANCE. Each of the Company’s Subsidiaries are insured by insurers of recognized financial responsibility against
such losses and risks and in such amounts as management of the Company reasonably believes to be prudent and customary in the
businesses in which the Company and its Subsidiaries are engaged. Neither the Company nor any of its Subsidiaries has been refused
any insurance coverage sought or applied for and neither the Company nor its Subsidiaries has any reason to believe that it will
not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar
insurers as may be necessary to continue its business at a cost that would not have a Material Adverse Effect.

 

4.5
DILUTIVE EFFECT. The Company understands and acknowledges that the number of Securities issuable upon purchases pursuant
to this Agreement will increase in certain circumstances including, but not necessarily limited to, the circumstance wherein the
trading price of the common stock declines during the Commitment Period. The Company’s executive officers and directors
have studied and fully understand the nature of the transactions contemplated by this Agreement and recognize that they have a
potential dilutive effect on the shareholders of the Company. The Board of Directors of the Company has concluded, in its good
faith business judgment, and with full understanding of the implications, that such issuance is in the best interests of the Company.
The Company specifically acknowledges that, subject to such limitations as are expressly set forth in the Agreement, its obligation
to issue Securities upon purchases pursuant to this Agreement is absolute and unconditional regardless of the dilutive effect
that such issuance may have on the ownership interests of other shareholders of the Company.

 

SECTION
V

COVENANTS
OF THE COMPANY

 

5.1
BEST EFFORTS. The Company shall use all commercially reasonable efforts to timely satisfy each of the conditions set forth
in this Agreement.

 

5.2
REPORTING STATUS. Until one of the following occurs, the Company shall file all reports required to be filed with the SEC
pursuant to the 1934 Act, and the Company shall not terminate its status, or take an action or fail to take any action, which
would terminate its status as a reporting company under the 1934 Act: (i) this Agreement terminates pursuant to Section 8
and the Investor has the right to sell all of the Securities without restrictions pursuant to Rule 144 promulgated under the 1933
Act, or such other exemption, or (ii) the date on which the Investor has sold all the Securities.

 

    	 

     

    

 

5.3
USE OF PROCEEDS. The Company will use the proceeds from the sale of the Securities for general corporate and working capital
purposes and acquisitions or assets, businesses or operations or for other purposes that the Board of Directors, in good faith
deem to be in the best interest of the Company.

 

5.4
FINANCIAL INFORMATION. During the Commitment Period, the Company agrees to make available to the Investor via EDGAR or
other electronic means the following documents and information on the forms set forth: (i) within five (5) Business Days after
the filing thereof with the SEC, a copy of its Annual Reports on Form 10-K, its Quarterly Reports on Form 10-Q, any Current Reports
on Form 8-K and any Registration Statements or amendments filed pursuant to the 1933 Act; (ii) copies of any notices and other
information made available or given to the shareholders of the Company generally, contemporaneously with the making available
or giving thereof to the shareholders; and (iii) within two (2) calendar days of filing or delivery thereof, copies of all documents
filed with, and all correspondence sent to, the Principal Market, any securities exchange or market, or the Financial Industry
Regulatory Association, unless such information is material nonpublic information.

 

5.5
RESERVATION OF SECURITIES. The Company shall take all action necessary to at all times have authorized, and reserved the
amount of Securities included in the Company’s registration statement for issuance pursuant to the Agreement. In the event
that the Company determines that it does not have a sufficient number of common stock to reserve and keep available for issuance
as described, the Company shall use all commercially reasonable efforts to increase the number of common stock by seeking shareholder
approval.

 

5.6
LISTING. The Company shall maintain the listing of the common stock on the Principal Market and each other national securities
exchange and automated quotation system, if any, upon which common stock are then listed (subject to official notice of issuance)
and shall maintain, such listing of all common stock from time to time issuable under the terms of the Agreement. Neither the
Company nor any of its Subsidiaries shall take any action which would be reasonably expected to result in the delisting or suspension
of the common stock on the Principal Market (excluding suspensions of not more than one (1) Business Day resulting from business
announcements by the Company). The Company shall promptly provide to the Investor copies of any notices it receives from the Principal
Market regarding the continued eligibility of the common stock for listing on such automated quotation system or securities exchange.
The Company shall pay all fees and expenses in connection with satisfying its obligations under this Section 5.6.

 

5.7
CORPORATE EXISTENCE. The Company shall use all commercially reasonable efforts to preserve and continue the corporate existence
of the Company.

 

5.8
NOTICE OF CERTAIN EVENTS AFFECTING REGISTRATION; SUSPENSION OF RIGHT TO SUBMIT A PURCHASE NOTICE. The Company shall promptly
notify the Investor upon the occurrence of any of the following events in respect of a Registration Statement or related prospectus
in respect of an offering of the Securities: (i) receipt of any request for additional information by the SEC or any other federal
or state governmental authority during the period of effectiveness of the Registration Statement for amendments or supplements
to the Registration Statement or related prospectus; (ii) the issuance by the SEC or any other federal or state governmental authority
of any stop order suspending the effectiveness of any Registration Statement or the initiation of any proceedings for that purpose;
(iii) receipt of any notification with respect to the suspension of the qualification or exemption from qualification of any of
the Securities for sale in any jurisdiction or the initiation or notice of any proceeding for such purpose; (iv) the happening
of any event that makes any statement made in such Registration Statement or related prospectus or any document incorporated or
deemed to be incorporated therein by reference untrue in any material respect or that requires the making of any changes in the
Registration Statement, related prospectus or documents so that, in the case of a Registration Statement, it will not contain
any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make
the statements therein not misleading, and that in the case of the related prospectus, it will not contain any untrue statement
of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein,
in the light of the circumstances under which they were made, not misleading; and (v) the Company’s reasonable determination
that a post-effective amendment or supplement to the Registration Statement would be appropriate, and the Company shall promptly
make available to Investor any such supplement or amendment to the related prospectus.

 

5.9
TRANSFER AGENT. The Company shall deliver instructions to its transfer agent to issue Securities to the Investor that are
issued to the Investor pursuant to the Transaction Documents.

 

    	 

     

    

 

5.10
ACKNOWLEDGEMENT OF TERMS. The Company hereby represents and warrants to the Investor that: (i) it is voluntarily entering
into this Agreement of its own freewill, (ii) it is not entering this Agreement under economic duress, (iii) the terms of this
Agreement are reasonable and fair to the Company, and (iv) the Company has had independent legal counsel of its own choosing review
this Agreement, advise the Company with respect to this Agreement, and represent the Company in connection with this Agreement.

 

SECTION
VI

EXPIRATION

 

This
Agreement shall expire either upon the later to occur of the following events:

 

6.1
when the Investor has purchased One Million Dollars ($1,000,000) Securities pursuant to this Agreement;

or

 

6.2
December 31, 2022.

 

Any
and all shares, or penalties, if any, due under this Agreement shall be immediately payable and due upon expiration of this Agreement.

 

SECTION
VII

INDEMNIFICATION

 

7.1
In consideration of the mutual obligations set forth in the Agreement, the Company (for purposes of this Section 7.1, the “Indemnitor”)
shall defend, protect, indemnify and hold harmless the Investor and all of the Investor’s shareholders, officers, directors,
employees, counsel, and direct or indirect investors and any of the foregoing person’s agents or other representatives (including,
without limitation, those retained in connection with the transactions contemplated by this Agreement) (collectively, for purposes
of this Section 7.1, the “Indemnitees”) from and against any and all actions, causes of action, suits, claims, losses,
costs, penalties, fees, liabilities and damages, and reasonable expenses in connection therewith (irrespective of whether any
such Indemnitee is a party to the action for which indemnification hereunder is sought), and including reasonable attorneys’
fees and disbursements (for purposes of this Section 7.1, the “Indemnified Liabilities”), incurred by any Indemnitee
as a result of, or arising out of, or relating to (I) any misrepresentation or breach of any representation or warranty made by
the Indemnitor or any other certificate, instrument or document contemplated hereby or thereby; (II) any breach of any covenant,
agreement or obligation of the Indemnitor contained in the Agreement or any other certificate, instrument or document contemplated
hereby or thereby; or (III) any cause of action, suit or claim brought or made against such Indemnitee by a third party and arising
out of or resulting from the execution, delivery, performance or enforcement of the Agreement or any other certificate, instrument
or document contemplated hereby or thereby, except insofar as any such misrepresentation, breach or any untrue statement, alleged
untrue statement, omission or alleged omission is made in reliance upon and in conformity with information furnished to Indemnitor
which is specifically intended for use in the preparation of any such Registration Statement, preliminary prospectus, prospectus
or amendments to the prospectus. To the extent that the foregoing undertaking by the Indemnitor may be unenforceable for any reason,
the Indemnitor shall make the maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities which
is permissible under applicable law. The indemnity provisions contained herein shall be in addition to any cause of action or
similar rights Indemnitor may have, and any liabilities the Indemnitor or the Indemnitees may be subject to.

 

7.2
In consideration of the mutual obligations set forth in the Agreement, the Investor (for purposes of this Section 7.2, the “Indemnitor”)
shall defend, protect, indemnify and hold harmless the Company and all of the Company’s shareholders, officers, directors,
employees, counsel, and any of the foregoing person’s agents or other representatives (including, without limitation, those
retained in connection with the transactions contemplated by this Agreement) (collectively, for purposes of this Section 7.2,
the “Indemnitees”) from and against any and all actions, causes of action, suits, claims, losses, costs, penalties,
fees, liabilities and damages, and reasonable expenses in connection therewith (irrespective of whether any such Indemnitee is
a party to the action for which indemnification hereunder is sought), and including reasonable attorneys’ fees and disbursements
(for purposes of this Section 7.2, the “Indemnified Liabilities”), incurred by any Indemnitee as a result of, or arising
out of, or relating to (I) any misrepresentation or breach of any representation or warranty made by the Indemnitor or any other
certificate, instrument or document contemplated hereby or thereby; (II) any breach of any covenant, agreement or obligation of
the Indemnitor contained in the Agreement or any other certificate, instrument or document contemplated hereby or thereby; or
(III) any cause of action, suit or claim brought or made against such Indemnitee by a third party and arising out of or resulting
from the execution, delivery, performance or enforcement of the Agreement or any other certificate, instrument or document contemplated
hereby or thereby, except insofar as any such misrepresentation, breach or any untrue statement, alleged untrue statement, omission
or alleged omission is made in reliance upon and in conformity with information furnished to Indemnitor which is specifically
intended for use in the preparation of any such Registration Statement, preliminary prospectus, prospectus or amendments to the
prospectus. To the extent that the foregoing undertaking by the Indemnitor may be unenforceable for any reason, the Indemnitor
shall make the maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities which is permissible
under applicable law. The indemnity provisions contained herein shall be in addition to any cause of action or similar rights
Indemnitor may have, and any liabilities the Indemnitor or the Indemnitees may be subject to.

 

    	 

     

    

 

SECTION
VIII

GOVERNING
LAW; DISPUTES SUBMITTED TO ARBITRATION

 

8.1
LAW GOVERNING THIS AGREEMENT. This Agreement shall be governed by and construed in accordance with the laws of the State
of California without regard to principles of conflicts of laws. Any action brought by either party against the other concerning
the transactions contemplated by this Agreement shall be brought only in the state or federal courts located in Los Angeles, California
State. The parties to this Agreement hereby irrevocably waive any objection to jurisdiction and venue of any action instituted
hereunder and shall not assert any defense based on lack of jurisdiction or venue or based upon forum non conveniens. The parties
executing this Agreement and other agreements referred to herein or delivered in connection herewith on behalf of the Company
agree to submit to the in personam jurisdiction of such courts and hereby irrevocably waive trial by jury. The prevailing party
shall be entitled to recover from the other party its reasonable attorney’s fees and costs. In the event that any provision
of this Agreement or any other agreement delivered in connection herewith is invalid or unenforceable under any applicable statute
or rule of law, then such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed
modified to conform with such statute or rule of law. Any such provision which may prove invalid or unenforceable under any law
shall not affect the validity or enforceability of any other provision of any agreement. Each party hereby irrevocably waives
personal service of process and consents to process being served in any suit, action or proceeding in connection with this Agreement
by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at
the address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient
service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process
in any other manner permitted by law.

 

8.2
LEGAL FEES; AND MISCELLANEOUS FEES. Except as otherwise set forth in the Agreement, including but not limited to the Administrative
Fee, each party shall pay the fees and expenses of its advisers, counsel, the accountants and other experts, if any, and all other
expenses incurred by such party incident to the negotiation, preparation, execution, delivery and performance of this Agreement.
Any attorneys’ fees and expenses incurred by either the Company or the Investor in connection with the preparation, negotiation,
execution and delivery of any amendments to this Agreement or relating to the enforcement of the rights of any party, after the
occurrence of any breach of the terms of this Agreement by another party or any default by another party in respect of the transactions
contemplated hereunder, shall be paid on demand by the party which breached this Agreement and/or defaulted, as the case may be.
The Company shall pay all stamp and other taxes and duties levied in connection with the issuance of any Securities.

 

8.3
SURVIVAL. The representations and warranties of the Company and the Investor contained in this Agreement shall survive
the Closing and the expiration of this Agreement.

 

8.4
PRICING OF SECURITIES. For purposes of this Agreement, the Investment Amount shall be based on the closing price of the
Securities as reported on the OTC Markets website.

 

SECTION
IX

NON-DISCLOSURE
OF NON-PUBLIC INFORMATION

 

The
Company shall not disclose non-public information to the Investor.

 

    	 

     

    

 

Your
signature on this Signature Page evidences your agreement to be bound by the terms and conditions of this Agreement as of the
date first written above. The undersigned signatory hereby certifies that he has read and understands this Agreement, and the
representations made by the undersigned in this Agreement are true and accurate, and agrees to be bound by its terms.

 

	RocketFuel
                                         Blockchain, Inc. 

	 
	 	 	 
	By: 		 
	 	Peter M. Jensen, CEO	 

 

	TRITON
    FUNDS LP	 
	 	 	 
	By:	 	 
	Name: 	Casey Barraza	 
	Title:	Analyst	 

 

    	 

     

    

 

PURCHASE
NOTICE

 

Date
__________

 

TRITON
FUNDS LP,

 

This
is to inform you that as of today the Company hereby elects to exercise its right pursuant to this Agreement to sell you __________
Securities.

 

Regards,

 

RocketFuel
Blockchain, Inc.

 

__________

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