Document:

Exhibit 10.2

 

EXHIBIT A

 

REGISTRATION RIGHTS AGREEMENT

 

This Registration Rights Agreement
(this “Agreement”) is made and entered into as of August 4, 2022, by and between Cuentas Inc., a Florida corporation
(the “Company”), and each of the several purchasers signatory hereto (each such purchaser, a “Purchaser”
and, collectively, the “Purchasers”).

 

This Agreement is made pursuant
to the Securities Purchase Agreement, dated as of the date hereof, between the Company and each Purchaser (the “Purchase Agreement”).

 

The Company and each Purchaser
hereby agree as follows:

 

1. Definitions.

 

Capitalized terms used
and not otherwise defined herein that are defined in the Purchase Agreement shall have the meanings given such terms in the Purchase Agreement.
As used in this Agreement, the following terms shall have the following meanings:

 

“Advice”
shall have the meaning set forth in Section 6(d).

 

“Effectiveness
Date” means, with respect to the Initial Registration Statement required to be filed hereunder, the 60th calendar
day following the date hereof (or, in the event of a “full review” by the Commission, the 90th calendar day following
the date hereof) and with respect to any additional Registration Statements which may be required pursuant to Section 2(c) or Section
3(c), the 60th calendar day following the date on which an additional Registration Statement is required to be filed hereunder
(or, in the event of a “full review” by the Commission, the 90th calendar day following the date such additional
Registration Statement is required to be filed hereunder); provided, however, that in the event the Company is notified
by the Commission that one or more of the above Registration Statements will not be reviewed or is no longer subject to further review
and comments, the Effectiveness Date as to such Registration Statement shall be the fifth Trading Day following the date on which the
Company is so notified if such date precedes the dates otherwise required above, provided, further, if such Effectiveness Date falls on
a day that is not a Trading Day, then the Effectiveness Date shall be the next succeeding Trading Day.

 

“Effectiveness
Period” shall have the meaning set forth in Section 2(a).

 

“Event”
shall have the meaning set forth in Section 2(d).

 

“Event
Date” shall have the meaning set forth in Section 2(d).

 

     

     

    

 

“Filing
Date” means, with respect to the Initial Registration Statement required hereunder, the 30th calendar day following
the date hereof and, with respect to any additional Registration Statements which may be required pursuant to Section 2(c) or Section
3(c), the earliest practical date on which the Company is permitted by SEC Guidance to file such additional Registration Statement related
to the Registrable Securities.

 

“Holder”
or “Holders” means the holder or holders, as the case may be, from time to time of Registrable Securities.

 

“Indemnified
Party” shall have the meaning set forth in Section 5(c).

 

“Indemnifying
Party” shall have the meaning set forth in Section 5(c).

 

“Initial
Registration Statement” means the initial Registration Statement filed pursuant to this Agreement.

 

“Losses”
shall have the meaning set forth in Section 5(a).

 

“Plan of
Distribution” shall have the meaning set forth in Section 2(a).

 

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

 

“Registrable
Securities” means, as of any date of determination, (a) all Shares, (b) all Warrant Shares then issued and issuable upon exercise
of the Warrants (assuming on such date the Warrants are exercised in full without regard to any exercise limitations therein), (c) any
additional shares of Common Stock issued and issuable in connection with any anti-dilution provisions in the Warrants (without giving
effect to any limitations on exercise set forth in the Warrants) and (d) any securities issued or then issuable upon any stock split,
dividend or other distribution, recapitalization or similar event with respect to the foregoing; provided, however, that any such
Registrable Securities shall cease to be Registrable Securities (and the Company shall not be required to maintain the effectiveness of
any, or file another, Registration Statement hereunder with respect thereto) for so long as (a) a Registration Statement with respect
to the sale of such Registrable Securities is declared effective by the Commission under the Securities Act and such Registrable Securities
have been disposed of by the Holder in accordance with such effective Registration Statement, (b) such Registrable Securities have been
previously sold in accordance with Rule 144, or (c) such securities become eligible for resale without volume or manner-of-sale restrictions
and without current public information pursuant to Rule 144 as set forth in a written opinion letter to such effect, addressed, delivered
and acceptable to the Transfer Agent and the affected Holders (assuming that such securities and any securities issuable upon exercise,
conversion or exchange of which, or as a dividend upon which, such securities were issued or are issuable, were at no time held by any
Affiliate of the Company, as reasonably determined by the Company, upon the advice of counsel to the Company.

 

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“Registration
Statement” means any registration statement required to be filed hereunder pursuant to Section 2(a) and any additional registration
statements contemplated by Section 2(c) or Section 3(c), including (in each case) the Prospectus, amendments and supplements to any such
registration statement or Prospectus, including pre- and post-effective amendments, all exhibits thereto, and all material incorporated
by reference or deemed to be incorporated by reference in any such registration statement.

 

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

 

“Rule 424”
means Rule 424 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted from time to time,
or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose and effect as such Rule.

 

“Selling
Stockholder Questionnaire” shall have the meaning set forth in Section 3(a).

 

“SEC Guidance”
means (i) any publicly-available written or oral guidance of the Commission staff, or any comments, requirements or requests of the Commission
staff and (ii) the Securities Act.

 

2. Shelf
Registration.

 

(a) On
or prior to each Filing Date, the Company shall prepare and file with the Commission a Registration Statement covering the resale of all
of the Registrable Securities that are not then registered on an effective Registration Statement for an offering to be made on a continuous
basis pursuant to Rule 415. Each Registration Statement filed hereunder shall be on Form S-3 (except if the Company is not then eligible
to register for resale the Registrable Securities on Form S-3, in which case such registration shall be on another appropriate form in
accordance herewith, subject to the provisions of Section 2(e)) and shall contain (unless otherwise directed by at least 85% in interest
of the Holders) substantially the “Plan of Distribution” attached hereto as Annex A and substantially the “Selling
Stockholder” section attached hereto as Annex B; provided, however, that no Holder shall be required to
be named as an “underwriter” without such Holder’s express prior written consent. Subject to the terms of this Agreement,
the Company shall use its best efforts to cause a Registration Statement filed under this Agreement (including, without limitation, under
Section 3(c)) to be declared effective under the Securities Act as promptly as possible after the filing thereof, but in any event no
later than the applicable Effectiveness Date, and shall use its best efforts to keep such Registration Statement continuously effective
under the Securities Act until the date that all Registrable Securities covered by such Registration Statement (i) have been sold, thereunder
or pursuant to Rule 144, or (ii) may be sold without volume or manner-of-sale restrictions pursuant to Rule 144 and without the requirement
for the Company to be in compliance with the current public information requirement under Rule 144, as determined by the counsel to the
Company pursuant to a written opinion letter to such effect, addressed and acceptable to the Transfer Agent and the affected Holders (the
“Effectiveness Period”). The Company shall telephonically request effectiveness of a Registration Statement as of 5:00
p.m. (New York City time) on a Trading Day. The Company shall immediately notify the Holders via facsimile or by e-mail of the effectiveness
of a Registration Statement on the same Trading Day that the Company telephonically confirms effectiveness with the Commission, which
shall be the date requested for effectiveness of such Registration Statement. The Company shall, by 9:30 a.m. (New York City time) on
the Trading Day after the effective date of such Registration Statement, file a final Prospectus with the Commission as required by Rule
424. Failure to so notify the Holder within one (1) Trading Day of such notification of effectiveness or failure to file a final Prospectus
as foresaid shall be deemed an Event under Section 2(d).

 

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(b)
Notwithstanding the registration obligations set forth in Section 2(a), if the Commission informs the Company that all of the Registrable
Securities cannot, as a result of the application of Rule 415, be registered for resale as a secondary offering on a single registration
statement, the Company agrees to promptly inform each of the Holders thereof and use its commercially reasonable efforts to file amendments
to the Initial Registration Statement as required by the Commission, covering the maximum number of Registrable Securities permitted to
be registered by the Commission, on Form S-3 or such other form available to register for resale the Registrable Securities as a secondary
offering, subject to the provisions of Section 2(e); with respect to filing on Form S-3 or other appropriate form, and subject to the
provisions of Section 2(d) with respect to the payment of liquidated damages; provided, however, that prior to filing such
amendment, the Company shall be obligated to use diligent efforts to advocate with the Commission for the registration of all of the Registrable
Securities in accordance with the SEC Guidance, including without limitation, Compliance and Disclosure Interpretation 612.09.

 

(c) Notwithstanding
any other provision of this Agreement and subject to the payment of liquidated damages pursuant to Section 2(d), if the Commission or
any SEC Guidance sets forth a limitation on the number of Registrable Securities permitted to be registered on a particular Registration
Statement as a secondary offering (and notwithstanding that the Company used diligent efforts to advocate with the Commission for the
registration of all or a greater portion of Registrable Securities), unless otherwise directed in writing by a Holder as to its Registrable
Securities, the number of Registrable Securities to be registered on such Registration Statement will be reduced as follows:

 

		a.	First, the Company shall reduce or eliminate any securities to be included other than Registrable Securities;

 

		b.	Second, the Company shall reduce Registrable Securities represented by Series A Warrant Shares (applied,
in the case that some Series A Warrant Shares may be registered, to the Holders on a pro rata basis based on the total number of unregistered
Series A Warrant Shares held by such Holders); and

 

		c.	Third, the Company shall reduce Registrable Securities represented by Shares and Pre-Funded Warrants (applied,
in the case that some Shares and Pre-Funded Warrants may be registered, to the Holders on a pro rata basis based on the total number of
unregistered Shares and Pre-Funded Warrants held by such Holders).

 

In the event of a cutback hereunder,
the Company shall give the Holder at least five (5) Trading Days prior written notice along with the calculations as to such Holder’s
allotment. In the event the Company amends the Initial Registration Statement in accordance with the foregoing, the Company will use its
best efforts to file with the Commission, as promptly as allowed by the Commission or SEC Guidance provided to the Company or to registrants
of securities in general, one or more registration statements on Form S-3 or such other form available to register for resale those Registrable
Securities that were not registered for resale on the Initial Registration Statement, as amended.

 

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(d) If:
(i) the Initial Registration Statement is not filed on or prior to its Filing Date (if the Company files the Initial Registration Statement
without affording the Holders the opportunity to review and comment on the same as required by Section 3(a) herein, the Company shall
be deemed to have not satisfied this clause (i)), or (ii) the Company fails to file with the Commission a request for acceleration of
a Registration Statement in accordance with Rule 461 promulgated by the Commission pursuant to the Securities Act, within five (5) Trading
Days of the date that the Company is notified (orally or in writing, whichever is earlier) by the Commission that such Registration Statement
will not be “reviewed” or will not be subject to further review, or (iii) prior to the effective date of a Registration Statement,
the Company fails to file a pre-effective amendment and otherwise respond in writing to comments made by the Commission in respect of
such Registration Statement within ten (10) calendar days after the receipt of comments by or notice from the Commission that such amendment
is required in order for such Registration Statement to be declared effective, or (iv) a Registration Statement registering for resale
all of the Registrable Securities is not declared effective by the Commission by the Effectiveness Date of the Initial Registration Statement,
or (v) after the effective date of a Registration Statement, such Registration Statement ceases for any reason to remain continuously
effective as to all Registrable Securities included in such Registration Statement, or the Holders are otherwise not permitted to utilize
the Prospectus therein to resell such Registrable Securities, for more than ten (10) consecutive calendar days or more than an aggregate
of fifteen (15) calendar days (which need not be consecutive calendar days) during any 12-month period (any such failure or breach being
referred to as an “Event”, and for purposes of clauses (i) and (iv), the date on which such Event occurs, and for purpose
of clause (ii) the date on which such five (5) Trading Day period is exceeded, and for purpose of clause (iii) the date which such ten
(10) calendar day period is exceeded, and for purpose of clause (v) the date on which such ten (10) or fifteen (15) calendar day period,
as applicable, is exceeded being referred to as “Event Date”), then, in addition to any other rights the Holders may
have hereunder or under applicable law, on each such Event Date and on each monthly anniversary of each such Event Date (if the applicable
Event shall not have been cured by such date) until the applicable Event is cured, the Company shall pay to each Holder an amount in cash,
as partial liquidated damages and not as a penalty, equal to the product of 2.0% multiplied by the aggregate Subscription Amount paid
by such Holder pursuant to the Purchase Agreement. The parties agree that the maximum aggregate liquidated damages payable to a Holder
under this Agreement shall be 10% of the aggregate Subscription Amount paid by such Holder pursuant to the Purchase Agreement. If the
Company fails to pay any partial liquidated damages pursuant to this Section in full within seven days after the date payable, the Company
will pay interest thereon at a rate of 18% per annum (or such lesser maximum amount that is permitted to be paid by applicable law) to
the Holder, accruing daily from the date such partial liquidated damages are due until such amounts, plus all such interest thereon, are
paid in full. The partial liquidated damages pursuant to the terms hereof shall apply on a daily pro rata basis for any portion of a month
prior to the cure of an Event.

 

(e) If
Form S-3 is not available for the registration of the resale of Registrable Securities hereunder, the Company shall (i) register the resale
of the Registrable Securities on another appropriate form and (ii) undertake to register the Registrable Securities on Form S-3 as soon
as such form is available, provided that the Company shall maintain the effectiveness of the Registration Statement then in effect until
such time as a Registration Statement on Form S-3 covering the Registrable Securities has been declared effective by the Commission.

 

(f) Notwithstanding
anything to the contrary contained herein, in no event shall the Company be permitted to name any Holder or affiliate of a Holder as any
underwriter without the prior written consent of such Holder.

 

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3. Registration
Procedures.

 

In connection with the Company’s
registration obligations hereunder, the Company shall:

 

(a) Not
less than five (5) Trading Days prior to the filing of each Registration Statement and not less than one (1) Trading Day prior to the
filing of any related Prospectus or any amendment or supplement thereto (including any document that would be incorporated or deemed to
be incorporated therein by reference), the Company shall (i) furnish to each Holder copies of all such documents proposed to be filed,
which documents (other than those incorporated or deemed to be incorporated by reference) will be subject to the review of such Holders,
and (ii) cause its officers and directors, counsel and independent registered public accountants to respond to such inquiries as shall
be necessary, in the reasonable opinion of respective counsel to each Holder, to conduct a reasonable investigation within the meaning
of the Securities Act. The Company shall not file a Registration Statement or any such Prospectus or any amendments or supplements thereto
to which the Holders of a majority of the Registrable Securities shall reasonably object in good faith, provided that, the Company is
notified of such objection in writing no later than five (5) Trading Days after the Holders have been so furnished copies of a Registration
Statement or one (1) Trading Day after the Holders have been so furnished copies of any related Prospectus or amendments or supplements
thereto. Each Holder agrees to furnish to the Company a completed questionnaire in the form attached to this Agreement as Annex C
(a “Selling Stockholder Questionnaire”) on a date that is not less than two (2) Trading Days prior to the Filing Date
or by the end of the fourth (4th) Trading Day following the date on which such Holder receives draft materials in accordance
with this Section.

 

(b) (i)
Prepare and file with the Commission such amendments, including post-effective amendments, to a Registration Statement and the Prospectus
used in connection therewith as may be necessary to keep a Registration Statement continuously effective as to the applicable Registrable
Securities for the Effectiveness Period and prepare and file with the Commission such additional Registration Statements in order to register
for resale under the Securities Act all of the Registrable Securities, (ii) cause the related Prospectus to be amended or supplemented
by any required Prospectus supplement (subject to the terms of this Agreement), and, as so supplemented or amended, to be filed pursuant
to Rule 424, (iii) respond as promptly as reasonably possible to any comments received from the Commission with respect to a Registration
Statement or any amendment thereto and provide as promptly as reasonably possible to the Holders true and complete copies of all correspondence
from and to the Commission relating to a Registration Statement (provided that, the Company shall excise any information contained therein
which would constitute material non-public information regarding the Company or any of its Subsidiaries), and (iv) comply in all material
respects with the applicable provisions of the Securities Act and the Exchange Act with respect to the disposition of all Registrable
Securities covered by a Registration Statement during the applicable period in accordance (subject to the terms of this Agreement) with
the intended methods of disposition by the Holders thereof set forth in such Registration Statement as so amended or in such Prospectus
as so supplemented.

 

(c) If
during the Effectiveness Period, the number of Registrable Securities at any time exceeds 100% of the number of shares of Common Stock
then registered in a Registration Statement, then the Company shall file as soon as reasonably practicable, but in any case prior to the
applicable Filing Date, an additional Registration Statement covering the resale by the Holders of not less than the number of such Registrable
Securities.

 

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(d) Notify
the Holders of Registrable Securities to be sold (which notice shall, pursuant to clauses (iii) through (vi) hereof, be accompanied by
an instruction to suspend the use of the Prospectus until the requisite changes have been made) as promptly as reasonably possible (and,
in the case of (i)(A) below, not less than one (1) Trading Day prior to such filing) and (if requested by any such Person) confirm such
notice in writing no later than one (1) Trading Day following the day (i)(A) when a Prospectus or any Prospectus supplement or post-effective
amendment to a Registration Statement is proposed to be filed, (B) when the Commission notifies the Company whether there will be a “review”
of such Registration Statement and whenever the Commission comments in writing on such Registration Statement, and (C) with respect to
a Registration Statement or any post-effective amendment, when the same has become effective, (ii) of any request by the Commission or
any other federal or state governmental authority for amendments or supplements to a Registration Statement or Prospectus or for additional
information, (iii) of the issuance by the Commission or any other federal or state governmental authority of any stop order suspending
the effectiveness of a Registration Statement covering any or all of the Registrable Securities or the initiation of any Proceedings for
that purpose, (iv) of the receipt by the Company of any notification with respect to the suspension of the qualification or exemption
from qualification of any of the Registrable Securities for sale in any jurisdiction, or the initiation or threatening of any Proceeding
for such purpose, (v) of the occurrence of any event or passage of time that makes the financial statements included in a Registration
Statement ineligible for inclusion therein or any statement made in a Registration Statement or Prospectus or any document incorporated
or deemed to be incorporated therein by reference untrue in any material respect or that requires any revisions to a Registration Statement,
Prospectus or other documents so that, in the case of a Registration Statement or the Prospectus, as the case may be, 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 light of the circumstances under which they were made, not misleading, and (vi) of the occurrence or existence of any pending
corporate development with respect to the Company that the Company believes may be material and that, in the determination of the Company,
makes it not in the best interest of the Company to allow continued availability of a Registration Statement or Prospectus; provided,
however, that in no event shall any such notice contain any information which would constitute material, non-public information
regarding the Company or any of its Subsidiaries.

 

(e) Use
its best efforts to avoid the issuance of, or, if issued, obtain the withdrawal of (i) any order stopping or suspending the effectiveness
of a Registration Statement, or (ii) any suspension of the qualification (or exemption from qualification) of any of the Registrable Securities
for sale in any jurisdiction, at the earliest practicable moment.

 

(f) Furnish
to each Holder, without charge, at least one conformed copy of each such Registration Statement and each amendment thereto, including
financial statements and schedules, all documents incorporated or deemed to be incorporated therein by reference to the extent requested
by such Person, and all exhibits to the extent requested by such Person (including those previously furnished or incorporated by reference)
promptly after the filing of such documents with the Commission; provided, that any such item which is available on the EDGAR system (or
successor thereto) need not be furnished in physical form.

 

(g) Subject
to the terms of this Agreement, the Company hereby consents to the use of such Prospectus and each amendment or supplement thereto by
each of the selling Holders in connection with the offering and sale of the Registrable Securities covered by such Prospectus and any
amendment or supplement thereto, except after the giving of any notice pursuant to Section 3(d).

 

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(h)
Prior to any resale of Registrable Securities by a Holder, use its commercially reasonable efforts to register or qualify or cooperate
with the selling Holders in connection with the registration or qualification (or exemption from the registration or qualification) of
such Registrable Securities for the resale by the Holder under the securities or Blue Sky laws of such jurisdictions within the United
States as any Holder reasonably requests in writing, to keep each registration or qualification (or exemption therefrom) effective during
the Effectiveness Period and to do any and all other acts or things reasonably necessary to enable the disposition in such jurisdictions
of the Registrable Securities covered by each Registration Statement, provided that the Company shall not be required to qualify generally
to do business in any jurisdiction where it is not then so qualified, subject the Company to any material tax in any such jurisdiction
where it is not then so subject or file a general consent to service of process in any such jurisdiction.

 

(i) If
requested by a Holder, cooperate with such Holder to facilitate the timely preparation and delivery of certificates representing Registrable
Securities to be delivered to a transferee pursuant to a Registration Statement, which certificates shall be free, to the extent permitted
by the Purchase Agreement, of all restrictive legends, and to enable such Registrable Securities to be in such denominations and registered
in such names as any such Holder may request.

 

(j) Upon the occurrence of any event contemplated by Section 3(d),
as promptly as reasonably possible under the circumstances taking into account the Company’s good faith assessment of any adverse
consequences to the Company and its stockholders of the premature disclosure of such event, prepare a supplement or amendment, including
a post-effective amendment, to a Registration Statement or a supplement to the related Prospectus or any document incorporated or deemed
to be incorporated therein by reference, and file any other required document so that, as thereafter delivered, neither a Registration
Statement nor such Prospectus will contain an untrue statement of a material fact or omit to state a material fact required to be stated
therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading. If the
Company notifies the Holders in accordance with clauses (iii) through (vi) of Section 3(d) above to suspend the use of any Prospectus
until the requisite changes to such Prospectus have been made, then the Holders shall suspend use of such Prospectus. The Company will
use its best efforts to ensure that the use of the Prospectus may be resumed as promptly as is practicable. The Company shall be entitled
to exercise its right under this Section 3(j) to suspend the availability of a Registration Statement and Prospectus, subject to the payment
of partial liquidated damages otherwise required pursuant to Section 2(d), for a period not to exceed 60 calendar days (which need not
be consecutive days) in any 12-month period.

 

(k) Otherwise
use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission under the Securities Act and
the Exchange Act, including, without limitation, Rule 172 under the Securities Act, file any final Prospectus, including any supplement
or amendment thereof, with the Commission pursuant to Rule 424 under the Securities Act, promptly inform the Holders in writing if, at
any time during the Effectiveness Period, the Company does not satisfy the conditions specified in Rule 172 and, as a result thereof,
the Holders are required to deliver a Prospectus in connection with any disposition of Registrable Securities and take such other actions
as may be reasonably necessary to facilitate the registration of the Registrable Securities hereunder.

 

(l) The
Company shall use its best efforts to maintain eligibility for use of Form S-3 (or any successor form thereto) for the registration of
the resale of Registrable Securities.

 

(m) The
Company may require each selling Holder to furnish to the Company a certified statement as to the number of shares of Common Stock beneficially
owned by such Holder and, if required by the Commission, the natural persons thereof that have voting and dispositive control over the
shares. During any periods that the Company is unable to meet its obligations hereunder with respect to the registration of the Registrable
Securities solely because any Holder fails to furnish such information within three Trading Days of the Company’s request, any liquidated
damages that are accruing at such time as to such Holder only shall be tolled and any Event that may otherwise occur solely because of
such delay shall be suspended as to such Holder only, until such information is delivered to the Company.

 

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4. Registration
Expenses. All fees and expenses incident to the performance of or compliance with, this Agreement by the Company shall be borne by
the Company whether or not any Registrable Securities are sold pursuant to a Registration Statement. The fees and expenses referred to
in the foregoing sentence shall include, without limitation, (i) all registration and filing fees (including, without limitation, fees
and expenses of the Company’s counsel and independent registered public accountants) (A) with respect to filings made with the Commission,
(B) with respect to filings required to be made with any Trading Market on which the Common Stock is then listed for trading, and (C)
in compliance with applicable state securities or Blue Sky laws reasonably agreed to by the Company in writing (including, without limitation,
fees and disbursements of counsel for the Company in connection with Blue Sky qualifications or exemptions of the Registrable Securities),
(ii) printing expenses (including, without limitation, expenses of printing certificates for Registrable Securities), (iii) messenger,
telephone and delivery expenses, (iv) fees and disbursements of counsel for the Company, (v) Securities Act liability insurance, if the
Company so desires such insurance, and (vi) fees and expenses of all other Persons retained by the Company in connection with the consummation
of the transactions contemplated by this Agreement. In addition, the Company shall be responsible for all of its internal expenses incurred
in connection with the consummation of the transactions contemplated by this Agreement (including, without limitation, all salaries and
expenses of its officers and employees performing legal or accounting duties), the expense of any annual audit and the fees and expenses
incurred in connection with the listing of the Registrable Securities on any securities exchange as required hereunder. In no event shall
the Company be responsible for any broker or similar commissions of any Holder or, except to the extent provided for in the Transaction
Documents, any legal fees or other costs of the Holders.

 

5. Indemnification.

 

(a) Indemnification
by the Company. The Company shall, notwithstanding any termination of this Agreement, indemnify and hold harmless each Holder,
the officers, directors, members, partners, agents, brokers (including brokers who offer and sell Registrable Securities as
principal as a result of a pledge or any failure to perform under a margin call of Common Stock), investment advisors and employees
(and any other Persons with a functionally equivalent role of a Person holding such titles, notwithstanding a lack of such title or
any other title) of each of them, each Person who controls any such Holder (within the meaning of Section 15 of the Securities Act
or Section 20 of the Exchange Act) and the officers, directors, members, stockholders, partners, agents and employees (and any other
Persons with a functionally equivalent role of a Person holding such titles, notwithstanding a lack of such title or any other
title) of each such controlling Person, to the fullest extent permitted by applicable law, from and against any and all losses,
claims, damages, liabilities, costs (including, without limitation, reasonable attorneys’ fees) and expenses (collectively,
“Losses”), as incurred, arising out of or relating to (1) any untrue or alleged untrue statement of a material
fact contained in a Registration Statement, any Prospectus or any form of prospectus or in any amendment or supplement thereto or in
any preliminary prospectus, or arising out of or relating to any omission or alleged omission of a material fact required to be
stated therein or necessary to make the statements therein (in the case of any Prospectus or supplement thereto, in light of the
circumstances under which they were made) not misleading or (2) any violation or alleged violation by the Company of the Securities
Act, the Exchange Act or any state securities law, or any rule or regulation thereunder, in connection with the performance of its
obligations under this Agreement, except to the extent, but only to the extent, that (i) such untrue statements or omissions are
based solely upon information regarding such Holder furnished in writing to the Company by such Holder expressly for use therein, or
to the extent that such information relates to such Holder or such Holder’s proposed method of distribution of Registrable
Securities and was reviewed and expressly approved in writing by such Holder expressly for use in a Registration Statement, such
Prospectus or in any amendment or supplement thereto (it being understood that the Holder has approved Annex A hereto for
this purpose) or (ii) in the case of an occurrence of an event of the type specified in Section 3(d)(iii)-(vi), the use by such
Holder of an outdated, defective or otherwise unavailable Prospectus after the Company has notified such Holder in writing that the
Prospectus is outdated, defective or otherwise unavailable for use by such Holder and prior to the receipt by such Holder of the
Advice contemplated in Section 6(d). The Company shall notify the Holders promptly of the institution, threat or assertion of any
Proceeding arising from or in connection with the transactions contemplated by this Agreement of which the Company is aware. Such
indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of such indemnified person and
shall survive the transfer of any Registrable Securities by any of the Holders in accordance with Section 6(h).

 

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(b) Indemnification
by Holders. Each Holder shall, severally and not jointly, indemnify and hold harmless the Company, its directors, officers, agents
and employees, each Person who controls the Company (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange
Act), and the directors, officers, agents or employees of such controlling Persons, to the fullest extent permitted by applicable law,
from and against all Losses, as incurred, to the extent arising out of or based solely upon: any untrue or alleged untrue statement of
a material fact contained in any Registration Statement, any Prospectus, or in any amendment or supplement thereto or in any preliminary
prospectus, or arising out of or relating to any omission or alleged omission of a material fact required to be stated therein or necessary
to make the statements therein (in the case of any Prospectus or supplement thereto, in light of the circumstances under which they were
made) not misleading (i) to the extent, but only to the extent, that such untrue statement or omission is contained in any information
so furnished in writing by such Holder to the Company expressly for inclusion in such Registration Statement or such Prospectus or (ii)
to the extent, but only to the extent, that such information relates to such Holder’s information provided in the Selling Stockholder
Questionnaire or the proposed method of distribution of Registrable Securities and was reviewed and expressly approved in writing by such
Holder expressly for use in a Registration Statement (it being understood that the Holder has approved Annex A hereto for this
purpose), such Prospectus or in any amendment or supplement thereto. In no event shall the liability of a selling Holder be greater in
amount than the dollar amount of the proceeds (net of all expenses paid by such Holder in connection with any claim relating to this Section
5 and the amount of any damages such Holder has otherwise been required to pay by reason of such untrue statement or omission) received
by such Holder upon the sale of the Registrable Securities included in the Registration Statement giving rise to such indemnification
obligation.

 

(c) Conduct
of Indemnification Proceedings. If any Proceeding shall be brought or asserted against any Person entitled to indemnity hereunder
(an “Indemnified Party”), such Indemnified Party shall promptly notify the Person from whom indemnity is sought (the
“Indemnifying Party”) in writing, and the Indemnifying Party shall have the right to assume the defense thereof, including
the employment of counsel reasonably satisfactory to the Indemnified Party and the payment of all fees and expenses incurred in connection
with defense thereof, provided that the failure of any Indemnified Party to give such notice shall not relieve the Indemnifying Party
of its obligations or liabilities pursuant to this Agreement, except (and only) to the extent that it shall be finally determined by a
court of competent jurisdiction (which determination is not subject to appeal or further review) that such failure shall have materially
and adversely prejudiced the Indemnifying Party.

 

An Indemnified
Party shall have the right to employ separate counsel in any such Proceeding and to participate in the defense thereof, but the fees and
expenses of such counsel shall be at the expense of such Indemnified Party or Parties unless: (1) the Indemnifying Party has agreed in
writing to pay such fees and expenses, (2) the Indemnifying Party shall have failed promptly to assume the defense of such Proceeding
and to employ counsel reasonably satisfactory to such Indemnified Party in any such Proceeding, or (3) the named parties to any such Proceeding
(including any impleaded parties) include both such Indemnified Party and the Indemnifying Party, and counsel to the Indemnified Party
shall reasonably believe that a material conflict of interest is likely to exist if the same counsel were to represent such Indemnified
Party and the Indemnifying Party (in which case, if such Indemnified Party notifies the Indemnifying Party in writing that it elects to
employ separate counsel at the expense of the Indemnifying Party, the Indemnifying Party shall not have the right to assume the defense
thereof and the reasonable fees and expenses of no more than one separate counsel shall be at the expense of the Indemnifying Party).
The Indemnifying Party shall not be liable for any settlement of any such Proceeding effected without its written consent, which consent
shall not be unreasonably withheld or delayed. No Indemnifying Party shall, without the prior written consent of the Indemnified Party,
effect any settlement of any pending Proceeding in respect of which any Indemnified Party is a party, unless such settlement includes
an unconditional release of such Indemnified Party from all liability on claims that are the subject matter of such Proceeding.

 

    10

     

    

 

Subject to the
terms of this Agreement, all reasonable fees and expenses of the Indemnified Party (including reasonable fees and expenses to the extent
incurred in connection with investigating or preparing to defend such Proceeding in a manner not inconsistent with this Section) shall
be paid to the Indemnified Party, as incurred, within ten Trading Days of written notice thereof to the Indemnifying Party, provided that
the Indemnified Party shall promptly reimburse the Indemnifying Party for that portion of such fees and expenses applicable to such actions
for which such Indemnified Party is finally determined by a court of competent jurisdiction (which determination is not subject to appeal
or further review) not to be entitled to indemnification hereunder.

 

(d) Contribution.
If the indemnification under Section 5(a) or 5(b) is unavailable to an Indemnified Party or insufficient to hold an Indemnified Party
harmless for any Losses, then each Indemnifying Party shall contribute to the amount paid or payable by such Indemnified Party, in such
proportion as is appropriate to reflect the relative fault of the Indemnifying Party and Indemnified Party in connection with the actions,
statements or omissions that resulted in such Losses as well as any other relevant equitable considerations. The relative fault of such
Indemnifying Party and Indemnified Party shall be determined by reference to, among other things, whether any action in question, including
any untrue or alleged untrue statement of a material fact or omission or alleged omission of a material fact, has been taken or made by,
or relates to information supplied by, such Indemnifying Party or Indemnified Party, and the parties’ relative intent, knowledge,
access to information and opportunity to correct or prevent such action, statement or omission. The amount paid or payable by a party
as a result of any Losses shall be deemed to include, subject to the limitations set forth in this Agreement, any reasonable attorneys’
or other fees or expenses incurred by such party in connection with any Proceeding to the extent such party would have been indemnified
for such fees or expenses if the indemnification provided for in this Section was available to such party in accordance with its terms.

 

The parties hereto
agree that it would not be just and equitable if contribution pursuant to this Section 5(d) were determined by pro rata allocation or
by any other method of allocation that does not take into account the equitable considerations referred to in the immediately preceding
paragraph. In no event shall the contribution obligation of a Holder of Registrable Securities be greater in amount than the dollar amount
of the proceeds (net of all expenses paid by such Holder in connection with any claim relating to this Section 5 and the amount of any
damages such Holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission)
received by it upon the sale of the Registrable Securities giving rise to such contribution obligation.

 

The indemnity and
contribution agreements contained in this Section are in addition to any liability that the Indemnifying Parties may have to the Indemnified
Parties.

 

6. Miscellaneous.

 

(a) Remedies.
In the event of a breach by the Company or by a Holder of any of their respective obligations under this Agreement, each Holder or the
Company, as the case may be, in addition to being entitled to exercise all rights granted by law and under this Agreement, including recovery
of damages, shall be entitled to specific performance of its rights under this Agreement. Each of the Company and each Holder agrees that
monetary damages would not provide adequate compensation for any losses incurred by reason of a breach by it of any of the provisions
of this Agreement and hereby further agrees that, in the event of any action for specific performance in respect of such breach, it shall
not assert or shall waive the defense that a remedy at law would be adequate.

 

    11

     

    

 

(b) No
Piggyback on Registrations; Prohibition on Filing Other Registration Statements. Except as set forth on Schedule 6(b) attached
hereto, and the shares of Common Stock issuable upon exercise of the warrants issued to the Placement Agent in the transactions contemplated
by the Purchase Agreement (if any), neither the Company nor any of its security holders (other than the Holders in such capacity pursuant
hereto) may include securities of the Company in any Registration Statements other than the Registrable Securities. The Company shall
not file any other registration statements until all Registrable Securities are registered pursuant to a Registration Statement that is
declared effective by the Commission, provided that this Section 6(b) shall not prohibit the Company from filing amendments to registration
statements filed prior to the date of this Agreement so long as no new securities are registered on any such existing registration statements.
For the avoidance of doubt, nothing herein shall prevent the Company from filing an amendment to the universal shelf registration statement
that the Company filed on February 14, 2022 and seeking to have such registration statement declared effective.

 

(c) [RESERVED]

 

(d) Discontinued
Disposition. By its acquisition of Registrable Securities, each Holder agrees that, upon receipt of a notice from the Company of the
occurrence of any event of the kind described in Section 3(d)(iii) through (vi), such Holder will forthwith discontinue disposition of
such Registrable Securities under a Registration Statement until it is advised in writing (the “Advice”) by the Company
that the use of the applicable Prospectus (as it may have been supplemented or amended) may be resumed. The Company will use its best
efforts to ensure that the use of the Prospectus may be resumed as promptly as is practicable. The Company agrees and acknowledges that
any periods during which the Holder is required to discontinue the disposition of the Registrable Securities hereunder shall be subject
to the provisions of Section 2(d).

 

(e) Amendments
and Waivers. The provisions of this Agreement, including the provisions of this sentence, may not be amended, modified or supplemented,
and waivers or consents to departures from the provisions hereof may not be given, unless the same shall be in writing and signed by the
Company and the Holders of 50.1% or more of the then outstanding Registrable Securities (for purposes of clarification, this includes
any Registrable Securities issuable upon exercise or conversion of any Security), provided that, if any amendment, modification or waiver
disproportionately and adversely impacts a Holder (or group of Holders), the consent of such disproportionately impacted Holder (or group
of Holders) shall be required. If a Registration Statement does not register all of the Registrable Securities pursuant to a waiver or
amendment done in compliance with the previous sentence, then the number of Registrable Securities to be registered for each Holder shall
be reduced pro rata among all Holders and each Holder shall have the right to designate which of its Registrable Securities shall be omitted
from such Registration Statement. Notwithstanding the foregoing, a waiver or consent to depart from the provisions hereof with respect
to a matter that relates exclusively to the rights of a Holder or some Holders and that does not directly or indirectly affect the rights
of other Holders may be given only by such Holder or Holders of all of the Registrable Securities to which such waiver or consent relates;
provided, however, that the provisions of this sentence may not be amended, modified, or supplemented except in accordance
with the provisions of the first sentence of this Section 6(e). No consideration shall be offered or paid to any Person to amend or consent
to a waiver or modification of any provision of this Agreement unless the same consideration also is offered to all of the parties to
this Agreement.

 

(f) Notices.
Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be delivered as set forth
in the Purchase Agreement.

 

(g) Successors
and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and permitted assigns of each of the
parties and shall inure to the benefit of each Holder. The Company may not assign (except by merger) its rights or obligations hereunder
without the prior written consent of all of the Holders of the then outstanding Registrable Securities. Each Holder may assign their respective
rights hereunder in the manner and to the Persons as permitted under Section 5.7 of the Purchase Agreement.

 

    12

     

    

 

(h) No
Inconsistent Agreements. Neither the Company nor any of its Subsidiaries has entered, as of the date hereof, nor shall the Company
or any of its Subsidiaries, on or after the date of this Agreement, enter into any agreement with respect to its securities, that would
have the effect of impairing the rights granted to the Holders in this Agreement or otherwise conflicts with the provisions hereof. Except
as set forth on Schedule 6(i), neither the Company nor any of its Subsidiaries has previously entered into any agreement granting
any registration rights with respect to any of its securities to any Person that have not been satisfied in full.

 

(i) Execution
and Counterparts. This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered
one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party,
it being understood that both parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission
or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and binding obligation of the party
executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf” signature
page were an original thereof.

 

(j) Governing
Law. All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be determined in
accordance with the provisions of the Purchase Agreement.

 

(k) Cumulative
Remedies. The remedies provided herein are cumulative and not exclusive of any other remedies provided by law.

 

(l) Severability.
If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal,
void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force
and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their commercially reasonable efforts
to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision,
covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would have executed the remaining
terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or unenforceable.

 

(m) Headings.
The headings in this Agreement are for convenience only, do not constitute a part of the Agreement and shall not be deemed to limit or
affect any of the provisions hereof.

 

(n) Independent
Nature of Holders’ Obligations and Rights. The obligations of each Holder hereunder are several and not joint with the obligations
of any other Holder hereunder, and no Holder shall be responsible in any way for the performance of the obligations of any other Holder
hereunder. Nothing contained herein or in any other agreement or document delivered at any closing, and no action taken by any Holder
pursuant hereto or thereto, shall be deemed to constitute the Holders as a partnership, an association, a joint venture or any other kind
of group or entity, or create a presumption that the Holders are in any way acting in concert or as a group or entity with respect to
such obligations or the transactions contemplated by this Agreement or any other matters, and the Company acknowledges that the Holders
are not acting in concert or as a group, and the Company shall not assert any such claim, with respect to such obligations or transactions.
Each Holder shall be entitled to protect and enforce its rights, including without limitation the rights arising out of this Agreement,
and it shall not be necessary for any other Holder to be joined as an additional party in any proceeding for such purpose. The use of
a single agreement with respect to the obligations of the Company contained was solely in the control of the Company, not the action or
decision of any Holder, and was done solely for the convenience of the Company and not because it was required or requested to do so by
any Holder. It is expressly understood and agreed that each provision contained in this Agreement is between the Company and a Holder,
solely, and not between the Company and the Holders collectively and not between and among Holders.

 

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

 

(Signature
Pages Follow)

 

    13

     

    

 

IN WITNESS WHEREOF, the parties
have executed this Registration Rights Agreement as of the date first written above.

 

	 	Cuentas Inc.
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

[SIGNATURE PAGE OF HOLDERS FOLLOWS]

 

     

     

    

 

[SIGNATURE
PAGE OF HOLDERS TO CUEN RRA]

 

Name of Holder: __________________________

 

Signature of Authorized Signatory of Holder: __________________________

 

Name of Authorized Signatory: _________________________

 

Title of Authorized Signatory: __________________________

 

[SIGNATURE PAGES CONTINUE]

 

     

     

    

 

Annex A

 

Plan of Distribution

 

Each Selling Stockholder (the
“Selling Stockholders”) of the securities and any of their pledgees, assignees and successors-in-interest may, from
time to time, sell any or all of their securities covered hereby on the Nasdaq Capital Market or any other stock exchange, market or trading
facility on which the securities are traded or in private transactions. These sales may be at fixed or negotiated prices. A Selling Stockholder
may use any one or more of the following methods when selling securities:

 

		●	ordinary brokerage transactions and transactions in which the broker-dealer solicits purchasers;

 

		●	block trades in which the broker-dealer will attempt to sell the securities as agent but may position and resell a portion of the
block as principal to facilitate the transaction;

 

		●	purchases by a broker-dealer as principal and resale by the broker-dealer for its account;

 

		●	an exchange distribution in accordance with the rules of the applicable exchange;

 

		●	privately negotiated transactions;

 

		●	settlement of short sales;

 

		●	in transactions through broker-dealers that agree with the Selling Stockholders to sell a specified number of such securities at a
stipulated price per security;

 

		●	through the writing or settlement of options or other hedging transactions, whether through an options exchange or otherwise;

 

		●	a combination of any such methods of sale; or

 

		●	any other method permitted pursuant to applicable law.

 

The Selling Stockholders may
also sell securities under Rule 144 or any other exemption from registration under the Securities Act of 1933, as amended (the “Securities
Act”), if available, rather than under this prospectus.

 

Broker-dealers engaged by
the Selling Stockholders may arrange for other brokers-dealers to participate in sales. Broker-dealers may receive commissions or discounts
from the Selling Stockholders (or, if any broker-dealer acts as agent for the purchaser of securities, from the purchaser) in amounts
to be negotiated, but, except as set forth in a supplement to this Prospectus, in the case of an agency transaction not in excess of a
customary brokerage commission in compliance with FINRA Rule 2121; and in the case of a principal transaction a markup or markdown in
compliance with FINRA Rule 2121.

 

     

     

    

 

In connection with the sale
of the securities or interests therein, the Selling Stockholders may enter into hedging transactions with broker-dealers or other financial
institutions, which may in turn engage in short sales of the securities in the course of hedging the positions they assume. The Selling
Stockholders may also sell securities short and deliver these securities to close out their short positions, or loan or pledge the securities
to broker-dealers that in turn may sell these securities. The Selling Stockholders may also enter into option or other transactions with
broker-dealers or other financial institutions or create one or more derivative securities which require the delivery to such broker-dealer
or other financial institution of securities offered by this prospectus, which securities such broker-dealer or other financial institution
may resell pursuant to this prospectus (as supplemented or amended to reflect such transaction).

 

The Selling Stockholders and
any broker-dealers or agents that are involved in selling the securities may be deemed to be “underwriters” within the meaning
of the Securities Act in connection with such sales. In such event, any commissions received by such broker-dealers or agents and any
profit on the resale of the securities purchased by them may be deemed to be underwriting commissions or discounts under the Securities
Act. Each Selling Stockholder has informed the Company that it does not have any written or oral agreement or understanding, directly
or indirectly, with any person to distribute the securities.

 

The Company is required to
pay certain fees and expenses incurred by the Company incident to the registration of the securities. The Company has agreed to indemnify
the Selling Stockholders against certain losses, claims, damages and liabilities, including liabilities under the Securities Act.

 

We agreed to keep this prospectus
effective until the earlier of (i) the date on which the securities may be resold by the Selling Stockholders without registration and
without regard to any volume or manner-of-sale limitations by reason of Rule 144, without the requirement for the Company to be in compliance
with the current public information under Rule 144 under the Securities Act or any other rule of similar effect or (ii) all of the securities
have been sold pursuant to this prospectus or Rule 144 under the Securities Act or any other rule of similar effect. The resale securities
will be sold only through registered or licensed brokers or dealers if required under applicable state securities laws. In addition, in
certain states, the resale securities covered hereby may not be sold unless they have been registered or qualified for sale in the applicable
state or an exemption from the registration or qualification requirement is available and is complied with.

 

Under applicable rules and
regulations under the Exchange Act, any person engaged in the distribution of the resale securities may not simultaneously engage in market
making activities with respect to the common stock for the applicable restricted period, as defined in Regulation M, prior to the commencement
of the distribution. In addition, the Selling Stockholders will be subject to applicable provisions of the Exchange Act and the rules
and regulations thereunder, including Regulation M, which may limit the timing of purchases and sales of the common stock by the Selling
Stockholders or any other person. We will make copies of this prospectus available to the Selling Stockholders and have informed them
of the need to deliver a copy of this prospectus to each purchaser at or prior to the time of the sale (including by compliance with Rule
172 under the Securities Act).

 

    2

     

    

 

Annex B

 

SELLING SHAREHOLDERS

 

The common stock being offered
by the selling shareholders are those previously issued to the selling shareholders, and those issuable to the selling shareholders, upon
exercise of the warrants. For additional information regarding the issuances of those shares of common stock and warrants, see “Private
Placement of Common Shares and Warrants” above. We are registering the shares of common stock in order to permit the selling shareholders
to offer the shares for resale from time to time. Except for the ownership of the shares of common stock and the warrants, the selling
shareholders have not had any material relationship with us within the past three years.

 

The table below lists the
selling shareholders and other information regarding the beneficial ownership of the shares of common stock by each of the selling shareholders.
The second column lists the number of shares of common stock beneficially owned by each selling shareholder, based on its ownership of
the shares of common stock and warrants, as of ________, 2022, assuming exercise of the warrants held by the selling shareholders on that
date, without regard to any limitations on exercises.

 

The third column lists the
shares of common stock being offered by this prospectus by the selling shareholders.

 

In accordance with the terms
of a registration rights agreement with the selling shareholders, this prospectus generally covers the resale of the sum of (i) the number
of shares of common stock issued to the selling shareholders in the “Private Placement of Common Shares and Warrants” described
above and (ii) the maximum number of shares of common stock issuable upon exercise of the related warrants, determined as if the outstanding
warrants were exercised in full as of the trading day immediately preceding the date this registration statement was initially filed with
the SEC, each as of the trading day immediately preceding the applicable date of determination and all subject to adjustment as provided
in the registration right agreement, without regard to any limitations on the exercise of the warrants. The fourth column assumes the
sale of all of the shares offered by the selling shareholders pursuant to this prospectus.

 

Under the terms of the warrants,
a selling shareholder may not exercise the warrants to the extent such exercise would cause such selling shareholder, together with its
affiliates and attribution parties, to beneficially own a number of shares of common stock which would exceed 4.99% or 9.99%, as applicable,
of our then outstanding common stock following such exercise, excluding for purposes of such determination shares of common stock issuable
upon exercise of such warrants which have not been exercised. The number of shares in the second and fourth columns do not reflect this
limitation. The selling shareholders may sell all, some or none of their shares in this offering. See “Plan of Distribution.”

 

	
     

    

    Name of Selling Shareholder
	Number of shares of 

Common Stock Owned 

Prior to Offering	Maximum
Number of

shares of Common Stock

to be Sold Pursuant to this

Prospectus
	Number
of shares of

Common Stock Owned

After Offering

 

    3

     

    

 

Annex C

 

Cuentas
Inc.

 

Selling Stockholder Notice and Questionnaire

 

The undersigned beneficial
owner of common stock (the “Registrable Securities”) of Cuentas Inc., a Nevada corporation (the “Company”),
understands that the Company has filed or intends to file with the Securities and Exchange Commission (the “Commission”)
a registration statement (the “Registration Statement”) for the registration and resale under Rule 415 of the Securities
Act of 1933, as amended (the “Securities Act”), of the Registrable Securities, in accordance with the terms of the
Registration Rights Agreement (the “Registration Rights Agreement”) to which this document is annexed. A copy of the
Registration Rights Agreement is available from the Company upon request at the address set forth below. All capitalized terms not otherwise
defined herein shall have the meanings ascribed thereto in the Registration Rights Agreement.

 

Certain legal consequences
arise from being named as a selling stockholder in the Registration Statement and the related prospectus. Accordingly, holders and beneficial
owners of Registrable Securities are advised to consult their own securities law counsel regarding the consequences of being named or
not being named as a selling stockholder in the Registration Statement and the related prospectus.

 

NOTICE

 

The undersigned beneficial
owner (the “Selling Stockholder”) of Registrable Securities hereby elects to include the Registrable Securities owned
by it in the Registration Statement.

 

     

     

    

 

The undersigned hereby provides the following
information to the Company and represents and warrants that such information is accurate:

 

QUESTIONNAIRE

 

		1.	Name.

 

		(a)	Full Legal Name of Selling Stockholder
	 	 	 
	 	 	 

	 

 

		(b)	Full Legal Name of Registered Holder (if not the same as (a) above) through which Registrable Securities
are held:
	 	 	 
	 	 	 

	 

		(c)	Full Legal Name of Natural Control Person (which means a natural person who directly or indirectly alone
or with others has power to vote or dispose of the securities covered by this Questionnaire):
	 	 	 
	 	 	 

 

2. Address for
Notices to Selling Stockholder:

 

	 
	 
	 
	 
	 
	 
	Telephone:
	 
	 
	 
	Fax:
	 
	 
	 
	Contact Person:
	 
	 

 

    2

     

    

 

3. Broker-Dealer Status:

 

		(a)	Are you a broker-dealer?

 

 Yes ☐   No ☐

 

		(b)	If “yes” to Section 3(a), did you receive your Registrable Securities as compensation for
investment banking services to the Company?

 

 Yes ☐  No ☐

 

 Note: If “no”
to Section 3(b), the Commission’s staff has indicated that you should be identified as an underwriter in the Registration Statement.

 

		(c)	Are you an affiliate of a broker-dealer?

 

 Yes ☐  No ☐

 

		(d)	If you are an affiliate of a broker-dealer, do you certify that you purchased the Registrable Securities
in the ordinary course of business, and at the time of the purchase of the Registrable Securities to be resold, you had no agreements
or understandings, directly or indirectly, with any person to distribute the Registrable Securities?

 

 Yes ☐  No ☐

 

 Note: If “no”
to Section 3(d), the Commission’s staff has indicated that you should be identified as an underwriter in the Registration Statement.

 

4. Beneficial Ownership of Securities
of the Company Owned by the Selling Stockholder.

 

Except as set forth below in this
Item 4, the undersigned is not the beneficial or registered owner of any securities of the Company other than the securities issuable
pursuant to the Purchase Agreement.

 

		(a)	Type
                                            and Amount of other securities beneficially owned by the Selling Stockholder:
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

5. Relationships with the Company:

 

Except as set forth below, neither
the undersigned nor any of its affiliates, officers, directors or principal equity holders (owners of 5% of more of the equity securities
of the undersigned) has held any position or office or has had any other material relationship with the Company (or its predecessors or
affiliates) during the past three years.

 

State any exceptions here:

 

	 	 	 
	 	 	 
	 	 	 

 

The undersigned agrees to
promptly notify the Company of any material inaccuracies or changes in the information provided herein that may occur subsequent to the
date hereof at any time while the Registration Statement remains effective; provided, that the undersigned shall not be required to notify
the Company of any changes to the number of securities held or owned by the undersigned or its affiliates.

 

By
signing below, the undersigned consents to the disclosure of the information contained herein in its answers to Items 1 through 5 and
the inclusion of such information in the Registration Statement and the related prospectus and any amendments or supplements thereto.
The undersigned understands that such information will be relied upon by the Company in connection with the preparation or amendment of
the Registration Statement and the related prospectus and any amendments or supplements thereto.

 

    3

     

    

 

IN WITNESS WHEREOF the undersigned,
by authority duly given, has caused this Notice and Questionnaire to be executed and delivered either in person or by its duly authorized
agent.

 

 

	Date:	 	 	Beneficial Owner: 	 

	 	 	 
	 	 	By:	 
	 	 	 	Name:	 
	 	 	 	Title:	 

 

PLEASE FAX A COPY (OR EMAIL A .PDF COPY) OF
THE COMPLETED AND EXECUTED NOTICE AND QUESTIONNAIRE TO:

 

 

4Exhibit
10.3

 

 

 

Execution
Version

 

August
3, 2022

 

STRICTLY
CONFIDENTIAL

 

Cuentas
Inc.

235
Lincoln Rd., Suite 210

Miami
Beach, Florida 33139

 

Attn:
Jeffery D. Johnson, Chief Executive Officer

 

Dear
Mr. Johnson:

 

This
letter agreement (this “Agreement”) constitutes the agreement between Cuentas Inc. (the “Company”)
and H.C. Wainwright & Co., LLC (“Wainwright”), that Wainwright shall serve as the exclusive underwriter, agent
or advisor in any offering (each, an “Offering”) of securities of the Company (the “Securities”)
during the Term (as hereinafter defined) of this Agreement pursuant to the terms and conditions set forth herein. The terms of each Offering
and the Securities issued in connection therewith shall be mutually agreed upon by the Company and Wainwright and nothing herein implies
that Wainwright would have the power or authority to bind the Company and nothing herein implies that the Company shall have an obligation
to issue any Securities. It is understood that Wainwright’s assistance in an Offering will be subject to the satisfactory completion
of such investigation and inquiry into the affairs of the Company as Wainwright deems appropriate under the circumstances and to the
receipt of all internal approvals of Wainwright in connection with an Offering. The Company expressly acknowledges and agrees that Wainwright’s
involvement in an Offering is strictly on a reasonable best-efforts basis and that the consummation of an Offering will be subject to,
among other things, market conditions. The execution of this Agreement does not constitute a commitment by Wainwright to purchase the
Securities and does not ensure a successful Offering of the Securities or the success of Wainwright with respect to securing any other
financing on behalf of the Company. Wainwright may retain other underwriters, brokers, dealers or agents on its behalf in connection
with an Offering. The Company shall be entitled to retain A.G.P./Alliance Global Partners to act as an independent financial advisor
to the Company in connection with each Offering and the payment of any advisory fees in connection therewith will be borne by the Company.

 

Notwitstanding
anything to the contrary included in this Agreement, the Company is entitled to consummate a Strategic Transaction during the Term. For
the purpose of this Agreement, a “Strategic Transaction” shall mean an acquisition, merger or any other strategic
transaction which is not with a potential investor pursuant to Paragraph A.4 hereunder; provided that any such transaction shall be a
non-brokered transaction and shall only be to a person which is, itself or through its subsidiaries, an operating company or an owner
of an asset in a business synergistic with the business of the Company and shall provide to the Company additional benefits in addition
to the investment of funds, but shall not include a transaction in which the Company is issuing securities primarily for the purpose
of raising capital or to an entity whose primary business is investing in securities.

 

New
York, New York 10022 | 212.356.0500 | www.hcwco.com

Member:
FINRA/SIPC

 

     

     

    

 

A. Compensation;
Reimbursement. At the closing of each Offering (each, a “Closing”), the Company shall compensate Wainwright as
follows:

 

		1.	Cash
                                            Fee. The Company shall pay to Wainwright a cash fee, or as to an underwritten Offering
                                            an underwriter discount, equal to 7.0% of the aggregate gross proceeds raised in each Offering.

 

		2.	Warrant
                                            Coverage. The Company shall issue to Wainwright or its designees at each Closing, warrants
                                            (the “Wainwright Warrants”) to purchase that number of shares of common
                                            stock of the Company equal to 7.0% of the aggregate number of shares of common stock (or
                                            common stock equivalent, if applicable) placed in each Offering (and if an Offering includes
                                            a “greenshoe” or “additional investment” component, such number of
                                            shares of common stock underlying such “greenshoe” or “additional investment”
                                            component, with the Wainwright Warrants issuable upon the exercise of such component). If
                                            the Securities included in an Offering are convertible, the Wainwright Warrants shall be
                                            determined by dividing the gross proceeds raised in such Offering by the Offering Price (as
                                            defined hereunder). The Wainwright Warrants shall be in a customary form reasonably acceptable
                                            to Wainwright, have a term of five (5) years and an exercise price equal to 135% of the offering
                                            price per share (or unit, if applicable) in the applicable Offering and if such offering
                                            price is not available, the market price of the common stock on the date an Offering is commenced
                                            (such price, the “Offering Price”). If warrants are issued to investors
                                            in an Offering, the Wainwright Warrants shall have the same terms as the warrants issued
                                            to investors in the applicable Offering, except that such Wainwright Warrants shall have
                                            an exercise price equal to 135% of the Offering Price.

 

		3.	Expense
                                            Allowance. Out of the proceeds of each Closing, the Company also agrees to pay Wainwright
                                            (a) a management fee equal to 1.0% of the gross proceeds raised in each Offering; (b) $25,000
                                            for non-accountable expenses (to be increased to $35,000 in case a public Offering is contemplated
                                            or consummated); (c) up to $40,000 for fees and expenses of legal counsel and other out-of-pocket
                                            expenses (to be increased to $100,000 in case a public Offering is contemplated or consummated);
                                            plus the additional amount payable by the Company pursuant to Paragraph D.3 hereunder and,
                                            if applicable, the costs associated with the use of a third-party electronic road show service
                                            (such as NetRoadshow); provided, however, that such amount in no way limits or impairs the
                                            indemnification and contribution provisions of this Agreement.

 

		4.	Tail.
                                            Wainwright shall be entitled to compensation under clauses (1) and (2) hereunder, calculated
                                            in the manner set forth therein, with respect to any public or private offering or other
                                            financing or capital-raising transaction of any kind (“Tail Financing”)
                                            to the extent that such Tail Financing is provided to the Company directly or indirectly
                                            by investors whom Wainwright had contacted during the Term or introduced to the Company during
                                            the Term, if such Tail Financing is consummated at any time within the 12-month period following
                                            the expiration or termination of this Agreement. Wainwright shall provide a list of such
                                            investors to the Company as promptly as practicable following the expiration or termination
                                            of this Agreement.

 

    2

     

    

 

		5.	Right
                                            of First Refusal. If, from the date hereof until the 10-month anniversary following consummation
                                            of each Offering, the Company or any of its subsidiaries (a) decides to dispose of or acquire
                                            business units or acquire any of its outstanding securities or make any exchange or tender
                                            offer or enter into a merger, consolidation or other business combination or any recapitalization,
                                            reorganization, restructuring or other similar transaction, including, without limitation,
                                            an extraordinary dividend or distributions or a spin-off or split-off (other than any transactions
                                            that were in process prior to the date hereof, namely, the acquisition of Cuentas SDI and
                                            SDI Black 011, and any Strategic Transaction), Wainwright (or any affiliate designated by
                                            Wainwright) shall have the right to act as the Company’s exclusive financial advisor
                                            for any such transaction; or (b) decides to finance or refinance any indebtedness, other
                                            than with respect to any Strategic Transaction, Wainwright (or any affiliate designated by
                                            Wainwright) shall have the right to act as sole book-runner, sole manager, sole placement
                                            agent or sole agent with respect to such financing or refinancing; or (c) decides to raise
                                            funds, other than with respect to any Strategic Transaction, by means of a public offering
                                            (including at-the-market facility) or a private placement or any other capital-raising financing
                                            of equity, equity-linked or debt securities, Wainwright (or any affiliate designated by Wainwright)
                                            shall have the right to act as sole book-running manager, sole underwriter or sole placement
                                            agent for such financing. If Wainwright or one of its affiliates decides to accept any such
                                            engagement, the agreement governing such engagement will contain, among other things, provisions
                                            for customary fees for transactions of similar size and nature and the provisions of this
                                            Agreement, including indemnification, which are appropriate to such a transaction.

 

B. Term
and Termination of Engagement; Exclusivity. The term of Wainwright’s exclusive engagement will begin on the date hereof and
end at 11:59 p.m., Eastern Time, on August 8, 2022 (the “Initial Term”); provided, however, that if an Offering is
priced within the Initial Term, the term of this Agreement shall be extended until the closing of such Offering (the “Extension
Term,” and together with the Initial Term, the “Term”). For clarity, the term “Term” shall mean
the Initial Term if there is no Extension Term. Notwithstanding anything to the contrary contained herein, the Company agrees that the
provisions relating to the payment of fees, reimbursement of expenses, right of first refusal, tail, indemnification and contribution,
confidentiality, conflicts, independent contractor and waiver of the right to trial by jury will survive any termination or expiration
of this Agreement. Notwithstanding anything to the contrary contained herein, the Company has the right to terminate the Agreement for
cause in compliance with FINRA Rule 5110(g)(5)(B)(i). The exercise of such right of termination for cause eliminates the Company’s
obligations with respect to the provisions relating to the tail fees and right of first refusal. During Wainwright’s engagement
hereunder, other than with respect to any Strategic Transaction: (i) the Company will not, and will not permit its representatives to,
other than in coordination with Wainwright, contact or solicit institutions, corporations or other entities or individuals as potential
purchasers of the Securities or investment banks in connection with an Offering and (ii) the Company will not pursue any financing transaction
which would be in lieu of an Offering. Furthermore, the Company agrees that during Wainwright’s engagement hereunder, all inquiries
from prospective investors will be referred to Wainwright. Additionally, except as set forth hereunder, the Company represents, warrants
and covenants that no brokerage or finder’s fees or commissions are or will be payable by the Company or any subsidiary of the
Company to any broker, financial advisor or consultant, finder, placement agent, investment banker, bank or other third-party with respect
to any Offering.

 

    3

     

    

 

C. Information;
Reliance. The Company shall furnish, or cause to be furnished, to Wainwright all information requested by Wainwright for the purpose
of rendering services hereunder and conducting due diligence (all such information being the “Information”). In addition,
the Company agrees to make available to Wainwright upon request from time to time the officers, directors, accountants, counsel and other
advisors of the Company. The Company recognizes and confirms that Wainwright (a) will use and rely on the Information, including any
documents provided to investors in each Offering (the “Offering Documents”) which shall include any Purchase Agreement
(as defined hereunder), and on information available from generally recognized public sources in performing the services contemplated
by this Agreement without having independently verified the same; (b) does not assume responsibility for the accuracy or completeness
of the Offering Documents or the Information and such other information; and (c) will not make an appraisal of any of the assets or liabilities
of the Company. Upon reasonable request, the Company will meet with Wainwright or its representatives to discuss all information relevant
for disclosure in the Offering Documents and will cooperate in any investigation undertaken by Wainwright thereof, including any document
included or incorporated by reference therein. At each Offering, at the request of Wainwright, the Company shall deliver such legal letters
(including, without limitation, negative assurance letters), opinions, comfort letters, officers’ and secretary certificates and
good standing certificates, all in form and substance satisfactory to Wainwright and its counsel as is customary for such Offering. Wainwright
shall be a third-party beneficiary of any representations, warranties, covenants, closing conditions and closing deliverables made by
the Company in any Offering Documents, including representations, warranties, covenants, closing conditions and closing deliverables
made to any investor in an Offering.

 

D. Related
Agreements. At each Offering, the Company shall enter into the following additional agreements:

 

		1.	Underwritten
                                            Offering. If an Offering is an underwritten Offering, the Company and Wainwright shall
                                            enter into a customary underwriting agreement in form and substance satisfactory to Wainwright
                                            and its counsel.

 

		2.	Best
                                            Efforts Offering. If an Offering is on a best-efforts basis, the sale of Securities to
                                            the investors in the Offering will be evidenced by a purchase agreement (“Purchase
                                            Agreement”) between the Company and such investors in a form reasonably satisfactory
                                            to the Company and Wainwright. Wainwright shall be a third-party beneficiary with respect
                                            to the representations, warranties, covenants, closing conditions and closing deliverables
                                            included in the Purchase Agreement. Prior to the signing of any Purchase Agreement, officers
                                            of the Company with responsibility for financial affairs will be available to answer inquiries
                                            from prospective investors.

 

		3.	Escrow,
                                            Settlement and Closing. If each Offering is not settled via delivery versus payment (“DVP”),
                                            the Company and Wainwright shall enter into an escrow agreement with a third-party escrow
                                            agent pursuant to which Wainwright’s compensation and expenses shall be paid from the
                                            gross proceeds of the Securities sold. If the Offering is settled in whole or in part via
                                            DVP, Wainwright shall arrange for its clearing agent to provide the funds to facilitate such
                                            settlement; provided, however, if the clearing firm provides the funds in a best efforts
                                            offering and subsequent to such delivery an investor fails to provide the necessary funds
                                            to the clearing agent for such purchase of Securities, Wainwright shall instruct the clearing
                                            agent to promptly return any such Securities to the Company and the Company shall promptly
                                            return such investor’s purchase price to the clearing agent. The Company shall pay
                                            Wainwright closing costs, which shall also include the reimbursement of the out-of-pocket
                                            cost of the escrow agent or clearing agent, as applicable, which closing costs shall not
                                            exceed $15,950.

 

    4

     

    

 

		4.	FINRA
                                            Amendments. Notwithstanding anything herein to the contrary, in the event that Wainwright
                                            determines that any of the terms provided for hereunder shall not comply with a FINRA rule,
                                            including but not limited to FINRA Rule 5110, then the Company shall agree to amend this
                                            Agreement (or include such revisions in the final underwriting agreement) in writing upon
                                            the request of Wainwright to comply with any such rules; provided that any such amendments
                                            shall not provide for terms that are less favorable to the Company than are reflected in
                                            this Agreement.

 

E. Confidentiality.
In the event of the consummation or public announcement of any Offering, Wainwright shall have the right to disclose its participation
in such Offering, including, without limitation, the Offering at its cost of “tombstone” advertisements in financial and
other newspapers and journals.

 

F. Indemnity.

 

		1.	In
                                            connection with the Company’s engagement of Wainwright hereunder, the Company hereby
                                            agrees to indemnify and hold harmless Wainwright and its affiliates, and the respective controlling
                                            persons, directors, officers, members, shareholders, agents and employees of any of the foregoing
                                            (collectively the “Indemnified Persons”), from and against any and all
                                            claims, actions, suits, proceedings (including those of shareholders), damages, liabilities
                                            and expenses incurred by any of them (including the reasonable fees and expenses of counsel),
                                            as incurred, whether or not the Company is a party thereto (collectively a “Claim”),
                                            that are (A) related to or arise out of (i) any actions taken or omitted to be taken (including
                                            any untrue statements made or any statements omitted to be made) by the Company, or (ii)
                                            any actions taken or omitted to be taken by any Indemnified Person in connection with the
                                            Company’s engagement of Wainwright, or (B) otherwise relate to or arise out of Wainwright’s
                                            activities on the Company’s behalf under Wainwright’s engagement, and the Company
                                            shall reimburse any Indemnified Person for all expenses (including the reasonable fees and
                                            expenses of counsel) as incurred by such Indemnified Person in connection with investigating,
                                            preparing or defending any such claim, action, suit or proceeding, whether or not in connection
                                            with pending or threatened litigation in which any Indemnified Person is a party. The Company
                                            will not, however, be responsible for any Claim that is finally judicially determined to
                                            have resulted from the gross negligence or willful misconduct of any such Indemnified Person
                                            for such Claim. The Company further agrees that no Indemnified Person shall have any liability
                                            to the Company for or in connection with the Company’s engagement of Wainwright except
                                            for any Claim incurred by the Company as a result of such Indemnified Person’s gross
                                            negligence or willful misconduct.

 

    5

     

    

 

		2.	The
                                            Company further agrees that it will not, without the prior written consent of Wainwright,
                                            settle, compromise or consent to the entry of any judgment in any pending or threatened Claim
                                            in respect of which indemnification may be sought hereunder (whether or not any Indemnified
                                            Person is an actual or potential party to such Claim), unless such settlement, compromise
                                            or consent includes an unconditional, irrevocable release of each Indemnified Person from
                                            any and all liability arising out of such Claim.

 

		3.	Promptly
                                            upon receipt by an Indemnified Person of notice of any complaint or the assertion or institution
                                            of any Claim with respect to which indemnification is being sought hereunder, such Indemnified
                                            Person shall notify the Company in writing of such complaint or of such assertion or institution
                                            but failure to so notify the Company shall not relieve the Company from any obligation it
                                            may have hereunder, except and only to the extent such failure results in the forfeiture
                                            by the Company of substantial rights and defenses. If the Company is requested by such Indemnified
                                            Person, the Company will assume the defense of such Claim, including the employment of counsel
                                            for such Indemnified Person and the payment of the fees and expenses of such counsel, provided,
                                            however, that such counsel shall be satisfactory to the Indemnified Person and provided further
                                            that if the legal counsel to such Indemnified Person reasonably determines that the use of
                                            counsel chosen by the Company to represent such Indemnified Person would present such counsel
                                            with a conflict of interest or if the defendant in, or target of, any such Claim, includes
                                            an Indemnified Person and the Company, and legal counsel to such Indemnified Person reasonably
                                            concludes that there may be legal defenses available to it or other Indemnified Persons different
                                            from or in addition to those available to the Company, such Indemnified Person will employ
                                            its own separate counsel (including local counsel, if necessary) to represent or defend him,
                                            her or it in any such Claim and the Company shall pay the reasonable fees and expenses of
                                            such counsel. If such Indemnified Person does not request that the Company assume the defense
                                            of such Claim, such Indemnified Person will employ its own separate counsel (including local
                                            counsel, if necessary) to represent or defend him, her or it in any such Claim and the Company
                                            shall pay the reasonable fees and expenses of such counsel. Notwithstanding anything herein
                                            to the contrary, if the Company fails timely or diligently to defend, contest, or otherwise
                                            protect against any Claim, the relevant Indemnified Person shall have the right, but not
                                            the obligation, to defend, contest, compromise, settle, assert crossclaims, or counterclaims
                                            or otherwise protect against the same, and shall be fully indemnified by the Company therefor,
                                            including without limitation, for the reasonable fees and expenses of its counsel and all
                                            amounts paid as a result of such Claim or the compromise or settlement thereof. In addition,
                                            with respect to any Claim in which the Company assumes the defense, the Indemnified Person
                                            shall have the right to participate in such Claim and to retain his, her or its own counsel
                                            therefor at his, her or its own expense.

 

    6

     

    

 

		4.	The
                                            Company agrees that if any indemnity sought by an Indemnified Person hereunder is held by
                                            a court to be unavailable for any reason then (whether or not Wainwright is the Indemnified
                                            Person), the Company and Wainwright shall contribute to the Claim for which such indemnity
                                            is held unavailable in such proportion as is appropriate to reflect the relative benefits
                                            to the Company, on the one hand, and Wainwright on the other, in connection with Wainwright’s
                                            engagement referred to above, subject to the limitation that in no event shall the amount
                                            of Wainwright’s contribution to such Claim exceed the amount of fees actually received
                                            by Wainwright from the Company pursuant to Wainwright’s engagement. The Company hereby
                                            agrees that the relative benefits to the Company, on the one hand, and Wainwright on the
                                            other, with respect to Wainwright’s engagement shall be deemed to be in the same proportion
                                            as (a) the total value paid or proposed to be paid or received by the Company pursuant to
                                            the applicable Offering (whether or not consummated) for which Wainwright is engaged to render
                                            services bears to (b) the fee paid or proposed to be paid to Wainwright in connection with
                                            such engagement.

 

		5.	The
                                            Company’s indemnity, reimbursement and contribution obligations under this Agreement
                                            (a) shall be in addition to, and shall in no way limit or otherwise adversely affect any
                                            rights that any Indemnified Person may have at law or at equity and (b) shall be effective
                                            whether or not the Company is at fault in any way.

 

G. Limitation
of Engagement to the Company. The Company acknowledges that Wainwright has been retained only by the Company, that Wainwright is
providing services hereunder as an independent contractor (and not in any fiduciary or agency capacity) and that the Company’s
engagement of Wainwright is not deemed to be on behalf of, and is not intended to confer rights upon, any shareholder, owner or partner
of the Company or any other person not a party hereto as against Wainwright or any of its affiliates, or any of its or their respective
officers, directors, controlling persons (within the meaning of Section 15 of the Securities Act or Section 20 of the Securities Exchange
Act of 1934, as amended (the “Exchange Act”)), employees or agents. Unless otherwise expressly agreed in writing by
Wainwright, no one other than the Company is authorized to rely upon this Agreement or any other statements or conduct of Wainwright,
and no one other than the Company is intended to be a beneficiary of this Agreement. The Company acknowledges that any recommendation
or advice, written or oral, given by Wainwright to the Company in connection with Wainwright’s engagement is intended solely for
the benefit and use of the Company’s management and directors in considering a possible Offering, and any such recommendation or
advice is not on behalf of, and shall not confer any rights or remedies upon, any other person or be used or relied upon for any other
purpose. Wainwright shall not have the authority to make any commitment binding on the Company. The Company, in its sole discretion,
shall have the right to reject any investor introduced to it by Wainwright.

 

    7

     

    

 

H. Limitation
of Wainwright’s Liability to the Company. Wainwright and the Company further agree that neither Wainwright nor any of its affiliates
or any of its or their respective officers, directors, controlling persons (within the meaning of Section 15 of the Securities Act or
Section 20 of the Exchange Act), employees or agents shall have any liability to the Company, its security holders or creditors, or any
person asserting claims on behalf of or in the right of the Company (whether direct or indirect, in contract, tort, for an act of negligence
or otherwise) for any losses, fees, damages, liabilities, costs, expenses or equitable relief arising out of or relating to this Agreement
or the services rendered hereunder, except for losses, fees, damages, liabilities, costs or expenses that arise out of or are based on
any action of or failure to act by Wainwright and that are finally judicially determined to have resulted solely from the gross negligence
or willful misconduct of Wainwright.

 

I. Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York applicable to agreements
made and to be fully performed therein. Any disputes that arise under this Agreement, even after the termination of this Agreement, will
be heard only in the state or federal courts located in the City of New York, State of New York. The parties hereto expressly agree to
submit themselves to the jurisdiction of the foregoing courts in the City of New York, State of New York. The parties hereto expressly
waive any rights they may have to contest the jurisdiction, venue or authority of any court sitting in the City and State of New York.
In the event Wainwright or any Indemnified Person is successful in any action, or suit against the Company, arising out of or relating
to this Agreement, the final judgment or award entered shall be entitled to have and recover from the Company the costs and expenses
incurred in connection therewith, including its reasonable attorneys’ fees. Any rights to trial by jury with respect to any such
action, proceeding or suit are hereby waived by Wainwright and the Company.

 

J. Notices.
All notices hereunder will be in writing and sent by certified mail, hand delivery, overnight delivery or e-mail, if sent to Wainwright,
at the address set forth on the first page hereof, e-mail: notices@hcwco.com, Attention: Head of Investment Banking, and if sent to the
Company, to the address set forth on the first page hereof, e-mail: jeff.johnson@cuentas.com, Attention: Chief Executive Officer. Notices
sent by certified mail shall be deemed received five days thereafter, notices sent by hand delivery or overnight delivery shall be deemed
received on the date of the relevant written record of receipt, notices sent by e-mail shall be deemed received as of the date and time
they were sent.

 

K. Conflicts.
The Company acknowledges that Wainwright and its affiliates may have and may continue to have investment banking and other relationships
with parties other than the Company pursuant to which Wainwright may acquire information of interest to the Company. Wainwright shall
have no obligation to disclose such information to the Company or to use such information in connection with any contemplated transaction.

 

L. Anti-Money
Laundering. To help the United States government fight the funding of terrorism and money laundering, the federal laws of the United
States require all financial institutions to obtain, verify and record information that identifies each person with whom they do business.
This means Wainwright must ask the Company for certain identifying information, including a government-issued identification number (e.g.,
a U.S. taxpayer identification number) and such other information or documents that Wainwright considers appropriate to verify the Company’s
identity, such as certified articles of incorporation, a government-issued business license, a partnership agreement or a trust instrument.

 

M. Miscellaneous.
The Company represents and warrants that it has all requisite power and authority to enter into and carry out the terms and provisions
of this Agreement and the execution, delivery and performance of this Agreement does not breach or conflict with any agreement, document
or instrument to which it is a party or bound. This Agreement shall not be modified or amended except in writing signed by Wainwright
and the Company. This Agreement shall be binding upon and inure to the benefit of both Wainwright and the Company and their respective
assigns, successors, and legal representatives. This Agreement constitutes the entire agreement of Wainwright and the Company with respect
to the subject matter hereof and supersedes any prior agreements with respect to the subject matter hereof. If any provision of this
Agreement is determined to be invalid or unenforceable in any respect, such determination will not affect such provision in any other
respect, and the remainder of the Agreement shall remain in full force and effect. This Agreement may be executed in counterparts (including
electronic counterparts), each of which shall be deemed an original but all of which together shall constitute one and the same instrument.
Signatures to this Agreement transmitted by electronic mail in “portable document format” (.pdf) form, or by any other electronic
means intended to preserve the original graphic and pictorial appearance of a document, will have the same effect as physical delivery
of the paper document bearing the original signature. The undersigned hereby consents to receipt of this Agreement in electronic form
and understands and agrees that this Agreement may be signed electronically. In the event that any signature is delivered by electronic
mail (including any electronic signature covered by the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act, the Electronic
Signatures and Records Act or other applicable law, e.g., www.docusign.com) or otherwise by electronic transmission evidencing an intent
to sign this Agreement, such electronic mail or other electronic transmission shall create a valid and binding obligation of the undersigned
with the same force and effect as if such signature were an original. Execution and delivery of this Agreement by electronic mail or
other electronic transmission is legal, valid and binding for all purposes.

 

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

 

    8

     

    

 

 

In
acknowledgment that the foregoing correctly sets forth the understanding reached by Wainwright and the Company, please sign in the space
provided below, whereupon this letter shall constitute a binding Agreement as of the date indicated above.

 

	 

     
	Very truly yours,
	 	H.C. WAINWRIGHT & CO., LLC
	 	 
	 	By: 	 
	 	 	Name:	          
	 	 	Title:	 
	 	 	Date:	 
	 	 	 	 

 

	Accepted and Agreed:	 
	 	 
	Cuentas Inc.	 
	 	 
	By: 	 	 
	 	Name:  	Arik Maimon	 
	 	Title:	Executive Chairman of the Board of Directors	 

 

 

 

9

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