Document:

EX-10.1

 Exhibit 10.1 

INFORMATION RIGHTS AGREEMENT 

THIS INFORMATION RIGHTS AGREEMENT (this “Agreement”) is made and entered into as of October 9, 2018 by and
between Charah Solutions, Inc. (the “Company”) and Bernhard Capital Partners Management, LP (“BCP”). 

WHEREAS, BCP indirectly holds certain equity interests in the Company through its affiliated funds, and the Company periodically prepares
certain financial information, business plans, financial forecasts and other information related to the operation of the Company’s business; and 

WHEREAS, the Company desires to provide to BCP certain information related to the Company’s finances, business plans, financial forecasts
the Company’s business generally pursuant to the terms of this Agreement. 
 NOW, THEREFORE, in consideration of the mutual promises
and covenants contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 

1.    Available Financial Information. So long as BCP and its
Affiliates (as defined in Section 4) collectively beneficially owns at least 10% of the outstanding shares of the Company’s common stock, par value $0.01 per share (the “Common Stock”), the Company will deliver, or
will cause to be delivered, upon written request, to BCP the following information: 
 (a) as soon as available after the end of each month,
and in any event within 30 days thereafter, (i) a consolidated, unaudited balance sheet of the Company and its subsidiaries as of the end of such month, (ii) consolidated, unaudited statements of operations, income, cash flows, retained
earnings and stockholders’ equity of the Company and its subsidiaries for each month and for the current fiscal year of the Company to date, in each case, prepared in accordance with generally accepted accounting principles, as in effect in the
United States of America from time to time (“GAAP”) (subject to normal quarter-end and year-end audit adjustments, the absence of notes
thereto and normal monthly close processes) and (iii) a comparison of the statements delivered pursuant to the preceding clauses (i) and (ii) to the corresponding periods of the prior fiscal year and to the Company’s business plan
then in effect and approved by the Company’s board of directors (the “Board”); 
 (b) no later than five
(5) days after the approval of the following budgets and statements, as applicable, (i) an annual budget, a business plan and financial forecasts for the Company for the next fiscal year of the Company (the
“Annual Budget”) in such manner and form as approved by the Board, which Annual Budget will include at least (x) a projection of income, (y) a projected cash flow statement for each fiscal quarter
in the fiscal year to which such Annual Budget applies and (z) a projected balance sheet as of the end of each fiscal quarter during the period to which such Annual Budget applies, in each case, prepared in reasonable detail, with an
appropriate presentation and discussion of the principal assumptions upon which such budget and projections are based (clauses (x), (y) and (z), the “Projected Statements”), and (ii) the statement of the chief executive
officer or the chief financial officer or an equivalent officer of the Company to the effect that such Annual Budget and Projected Statements are based on reasonable and good faith estimates and assumptions made by the management of the Company for
the respective periods covered thereby; it being recognized by BCP that such Projected Statements as to future events 

 
are not to be viewed as facts and that actual results during the period or periods covered by them may differ from the projected results. Any material changes in such Annual Budget will be
delivered to BCP as promptly as practicable after such changes have been approved by the Board; 
 (c) as soon as available after the end of
each fiscal year of the Company, and in any event within 90 days thereafter, (i) the annual financial statements required to be filed by the Company pursuant to the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), or (ii) a consolidated balance sheet of the Company and its subsidiaries as of the end of such fiscal year and consolidated statements of income, retained earnings and cash flows of the Company and its subsidiaries for such
year, in each case, (x) prepared in in reasonable detail and in accordance with GAAP, (y) accompanied by the opinion of independent public accountants of recognized national standing selected by the Company, and (z) accompanied by a
Company-prepared comparison to the Company’s Annual Budget for such year as approved by the Board and a comparison to the figures of the previous fiscal year; 

(d) as soon as available after the end of the first, second and third quarterly accounting periods in each fiscal year, and in any event
within 45 days thereafter, (i) (x) the quarterly financial statements required to be filed by the Company pursuant to the Exchange Act or (y) (A) a consolidated balance sheet of the Company and its subsidiaries as of the end of each such
quarterly period and (B) consolidated statements of income, retained earnings and cash flows of the Company and its subsidiaries for such quarterly period and for the current fiscal year to date, in each case, prepared in accordance with GAAP
(subject to normal year-end audit adjustments and the absence of notes thereto) and (ii) a comparison of the figures for the corresponding periods of the previous fiscal year and to the
Company’s Annual Budget then in effect as approved by the Board, all in reasonable detail and certified by the principal financial or accounting officer of the Company; and 

(e) if the Company files a Form 12b-25, the delivery of the information and documents contemplated by
subsections (c) and (d) above shall be extended from 90 and 45 days, respectively, for such additional number of days until the Company files its Form 10-K or Form
10-Q, respectively, with the Securities and Exchange Commission; provided, that such additional number of days shall not be in excess of the number of days permitted under Exchange Act Rule 12b-25. 
 2.    Other Information. The Company
covenants and agrees to deliver to BCP, upon written request, so long as BCP and its Affiliates collectively beneficially owns at least 20% of the outstanding shares of Common Stock, such other information and data (including such information and
reports made available to any lender of the Company or any of its subsidiaries under any credit agreement or otherwise) with respect to the Company and each of its subsidiaries as from time to time may be reasonably requested by BCP. BCP will have
access to the Company’s management as may be reasonably requested. 
 3.    Board Observer. For so
long as BCP and its Affiliates collectively beneficially owns at least 10% of the outstanding shares of Common Stock, BCP shall have the right to appoint one non-voting observer to the Board (the
“BCP Observer”), and the BCP Observer shall be entitled to (a) receive contemporaneously the same notice and other materials in respect of all meetings of the Board as are furnished to members of the Board, together with
an agenda for any such meetings, (b) attend all meetings of the Board and (c) participate in all discussions conducted 

 
at meetings of the Board; provided that, the (i) BCP Observer shall not be considered a “Director” or otherwise constitute a member of the Board and shall in no event be entitled
to vote on any matters presented to the Board, (ii) the BCP Observer shall agree to hold in confidence and trust (consistent with Section 4 of this Agreement) and to act in a fiduciary manner with respect to all
information provided or obtained as the BCP Observer as a condition to the Company complying with the foregoing clauses (a) through (c) of this Section 3, and (iii) the Company may exclude the BCP
Observer from attending any portion of Board meetings and participation in discussions conducted at meetings of the Board and/or withhold any materials if such attendance or participation or access to such materials (A) could adversely affect
the attorney-client privilege between Company and its counsel or (B) would reasonably be expected to result in a conflict of interest between BCP and its Affiliates or the BCP Observer, on the one hand, and the Company and its subsidiaries, on
the other hand. The BCP Observer may be removed and/or replaced at any time by (and only by) BCP by providing notice thereof to the Company’s Chief Executive Officer or Chief Financial Officer. 

4.    Confidentiality; Use. 

(a) Except as may be required by law or to the extent the information becomes generally available to the public other than as a result of
disclosure in breach of this Agreement, BCP and its Affiliates (defined below), employees, agents and representatives (the “BCP Parties”) shall maintain the confidentiality of all confidential or proprietary information of the Company
(including the information delivered by the Company to BCP pursuant to this Agreement) and shall not disclose to any third party (other than its directors, officers, managers, employees and advisors) any such confidential or proprietary information
without the prior consent of the Company. The confidentiality obligations set forth in this paragraph shall survive any termination of this Agreement. As used in this Agreement, “Affiliates” of BCP are those persons who are included in the
Schedule 13D or Schedule 13G, as applicable, filed with the SEC and from time to time with respect to BCP’s beneficial ownership of the Company’s securities. 

(b) BCP acknowledges that information disclosed to it under this Agreement may be non-public or inside
information and agrees that it shall, and shall cause the other BCP Parties to, comply with the requirements of any applicable laws, rules and regulations in relation to any dealings by any BCP Party in the Company’s securities. 

(c) In the event that BCP becomes aware that it or another BCP Party may reasonably expect to be required legally to publish non-public information provided to it or them pursuant to this Agreement, BCP shall give the Company prompt notice thereof and shall consult with the Company, which shall engage promptly with BCP to discuss. If,
following such consultation, BCP determines, acting reasonably, it is required legally to publish such non-public information, the applicable BCP Party may publish only such
non-public information necessary to comply with such legal requirements and (to the extent legally permitted) shall, upon request from the Company, delay such publication until after the Company has published
such non-public information. 
 (d) BCP shall immediately notify the Chairman of the Board if BCP or
its Affiliates have agreed to purchase or beneficially own 10% or more of the equity of a competitor of the Company. Upon notification or upon receiving such information by other means, the Board will

 
determine if supplying the information or providing access set forth in Sections 1(a), 1(b), 2 or 3 could be adverse to the Company. If the Board determines that such information or access could
have an adverse impact on the Company, then the Company shall not comply  with  the  Sections 1(a), 1(b), 2 or 3. BCP shall, and shall cause the other BCP Parties to, use any information obtained pursuant to this Agreement solely to
monitor BCP’s and its Affiliates’ investment in the Company and not use such information in any manner other than in connection with activities related to BCP’s and its Affiliates’ investment in the Company. 

(e) Nothing in this Agreement shall be deemed to affect in any manner any obligations of the Company or a BCP Party under any applicable laws
or orders by a governmental or quasi-governmental entity having jurisdiction over such party, and obligations of each of the Company and the BCP Parties under this Agreement shall be subject to, and no party shall be in breach of this Agreement if
it determines, acting reasonably and in good faith, that complying with any provision of this Agreement would violate such laws or orders; provided that each of the Company and the BCP Parties shall use its best efforts to notify and consult with
the other prior to taking any action in reliance on this Section 4(e) that would otherwise be a breach of this Agreement. 

5.    Successors and Assigns. The rights and obligations under this Agreement may not be assigned by
either party hereto without the consent of the other party. 
 6.    Governing Law; Jurisdiction.
THIS LETTER AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, EXCLUDING ANY CONFLICTS OF LAW RULE OR PRINCIPLE THAT MIGHT REFER CONSTRUCTION OF SUCH PROVISIONS TO THE LAWS OF ANOTHER
JURISDICTION. EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS LETTER AGREEMENT. 

7.    Counterparts; Facsimile. This Agreement may be executed and delivered by facsimile, e-mail or electronic signature and in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

8.    Consent Required to Amend or Waive. This Agreement may be amended or modified and the observance of
any term hereof may be waived (either generally or in a particular instance and either retroactively or prospectively) only by a written instrument executed by the Company and BCP. 

9.    Severability; Survival. The invalidity or unenforceability of any provision hereof shall in no way
affect the validity or enforceability of any other provision. Sections 4 through 10 shall survive any termination of this Agreement. 

10.    Entire Agreement. This Agreement constitutes the full and entire understanding and agreement
between the parties with respect to the subject matter hereof, and any other written or oral agreement, understanding or arrangement relating to the subject matter hereof existing between the parties are expressly canceled and shall have no further
force and effect. 

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

									
		 		 	CHARAH SOLUTIONS, INC.
				
		 		 	By:	 	/s/ Bruce Kramer
		 		 		 	Name:	 	Bruce Kramer
		 		 		 	Title:	 	Chief Financial Officer, Treasurer and Secretary
			
		 		 	 BERNHARD CAPITAL PARTNERS

MANAGEMENT, LP

				
		 		 	By:	 	/s/ Mark D. Spender
		 		 		 	Name:	 	Mark D. Spender
		 		 		 	Title:	 	Authorized Rep.Exhibit 10.1

 

CONFIDENTIAL TREATMENT
HAS BEEN REQUESTED FOR PORTIONS OF THIS AGREEMENT. THE COPY FILED HEREWITH OMITS THE INFORMATION SUBJECT TO THE CONFIDENTIALITY
REQUEST. A COMPLETE VERSION OF THIS AGREEMENT HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

 

AMENDMENT NO. 1 TO AGREEMENTS

 

This Amendment No.
1 to Agreements (“Amendment No. 1”), dated as of October 4, 2018 (the “Effective Date”),
is entered into by and between TDG Acquisition Company, LLC, a Delaware limited liability company (“Buyer”)
and Vuzix Corporation, a Delaware corporation (“Seller,” and together with Buyer the “Parties,”
and each, a “Party”).

 

WHEREAS, the Parties
entered into an Asset Purchase Agreement dated June 15, 2012 (as amended, supplemented or otherwise modified from time to time
in accordance with its provisions) (the “APA”) and certain other ancillary agreements, as well as the Vuzix
Authorized Reseller Agreement between the Parties dated June 15, 2012 (the “Reseller Agreement”);

 

WHEREAS, the Parties
desire to amend the APA to adjust the scope of the non-competition provisions and to provide for Seller to pay Buyer commissions
on certain sales, all on the terms and subject to the conditions set forth herein; and

 

WHEREAS, the Parties
desire to amend the Reseller Agreement to change the discount that the Buyer receives under that Agreement; and

 

WHEREAS, given the
changes to the APA, the Buyer has agreed to provide certain waivers and clarifications to Paul Travers, the CEO of the Seller,
in connection with that certain Restrictive Covenants Agreement between the Buyer and him dated June 15, 2012 (the “Travers
Non-Compete”); and

 

WHEREAS, pursuant to
Section 10.02(a) of the APA and Section 14.2 of the Reseller Agreement, the amendments contemplated by the Parties must be contained
in a written agreement signed by each Party.

 

NOW, THEREFORE, in
consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the Parties agree as follows:

 

1.       Definitions.
Capitalized terms used and not defined in this Amendment No. 1 have the respective meanings assigned to them in the APA.

 

2.       Amendments
to the APA. As of the Effective Date, the APA is hereby amended or modified as follows:

 

(a)       The
definition of “Defense and Security Organizations” now appearing in Section 1.01 of the APA is hereby deleted
in its entirety and replaced with the following:

 

“Defense and Security
Organizations” means (1) business customers and Governmental Entity customers that primarily provide security and/or
defense services, including police, fire fighters, EMTs, other first responders, and private security service providers, and (2)
any non-US Governmental Entity authorizing or providing homeland and border security services; provided that, a Military Organization
is not a Defense and Security Organization.

 

     

     

    

 

(b)       The
definition of “Military Organizations” now appearing in Section 1.01 of the APA is hereby deleted in its entirety
and replaced with the following:

 

“Military Organizations”
means organizations, departments, or individuals authorized by a Governmental Entity to defend or engage in combat for a country
or who otherwise engage in activities of a military nature. For purposes of clarity, (i) US Homeland Security Agencies are Military
Organizations, and (ii) any individual retail consumer who purchased finished products for personal non-military use is not a Military
Organization.

 

(c)       Section
1.01 of the APA is hereby amended by inserting the following new definitions in the appropriate alphabetical order:

 

“Approved
Military Organization Transaction” means any sale, lease, disposition, or other provision by Seller to a third party
of heads-up display (HUD) components or subsystems (and any services to support such sale) for incorporation into a finished good
or system for sale to a Military Organization for which Seller: (i) provides to Buyer notice promptly after the commencement of
discussions with a third party regarding such potential transaction, provided that Buyer agrees to be bound by any additional confidentiality
obligations reasonably required by the third party or Seller prior to receiving such notice, and (ii) obtains Buyer’s consent
(which Buyer shall not unreasonably withhold or delay) before issuing any written proposal and before entering into any binding
obligation to sell, lease, dispose of, or otherwise provide heads-up display (HUD) components or subsystems (and any services to
support such sale), provided that if Buyer has not provided notice to Seller of its objection to such transaction within five (5)
business days of Seller’s request for such consent, which notice shall state in sufficient detail Buyer’s reasonable
basis for withholding its consent to such transaction, then Buyer’s consent shall be deemed to have been given. Buyer acknowledges
and agrees that Seller may, upon notice to Buyer, engage in discussions and thereafter seek Buyer’s consent to enter into
an agreement or arrangement with the following third parties in connection with procuring or performing Approved Military Organization
Transactions, and in no case will Buyer refuse to consent to an Approved Military Organization Transaction solely because any of
the following third parties are involved in the transaction:

 

		§	Thales Group     

 

		§	Raytheon Company              

 

		§	The Boeing Company

 

		§	L-3 Technologies, Inc.          

 

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		§	Northrop Grumman Corporation           

 

		§	United Technologies Corporation        

 

		§	BAE Systems plc  

 

		§	Lockheed Martin Corporation

 

		§	Rockwell Collins, Inc. 

 

		§	Airbus SE

  

“US Homeland Security
Agencies” means the US Department of Homeland Security (including all its Operational and Support Components) and any
similar US state homeland and border security agencies.

 

“Net Sales Price”
means the gross price at which Seller sells, leases, disposes of, or otherwise provides goods and services to a customer, as reflected
on the applicable invoice, less (a) any rebates or discounts taken or allowed; (b) credits or allowances given or made for rejections
or return of any previously sold or provided goods or services; (c) to the extent included in such gross invoice price, any tax
or government charge imposed on the production, import, export, sale, delivery or use of such good or service, including, without
limitation, any value added or similar tax or government charge, but not including any tax levied with respect to income or similar
tax; and (d) to the extent included in such gross invoice price, any documented packaging, freight, transportation, insurance and
similar distribution charges. Net Sales Price will not include goods or services provided without monetary consideration as samples
or other use to promote sales of good or services.

 

(d)       Section
7.04 of the APA is hereby deleted in its entirety and replaced with the following:

 

Section 7.04Certain
Permitted Transactions.

 

(a)       The
Defense Advanced Research Projects Agency (DARPA) and Other Government Funded Projects. During the Restricted Period, other than
with respect to the projects and related follow-ons being funded by DARPA with respect to advancement of waveguide technology as
more fully described on Schedule 7.04, Seller shall not enter into any contract with, or seek or accept any funding from, any Governmental
Entity (including DARPA) to develop, produce, or sell any technology, products, or services that are directly or indirectly competitive
with the Business. In addition and notwithstanding the foregoing, during the Restricted Period, Seller may enter into contracts
with, and seek and accept funding from, (i) TSWG (Tactical Support Working Group) operates as a program element under the Combating
Terrorism Technical Support Office (CTTSO)); (ii) Air Force Research Labs (AFRL); (iii) Night Vision Labs (NVL); (iv) NATICK; and
(v) Navy Research Labs, SBIR, with respect to advancement of waveguide technology, provided Seller obtains the advance written
consent of Buyer prior to entering into any such contract or seeking or accepting any such funding pursuant to Section 7.04(a)(i),
(ii), (iii), (iv) or (v), which consent will not be unreasonably delayed or withheld. Any products developed as a result of any
research or other activities funded by any Governmental Entity (including DARPA and those described in (i) through (v) herein),
shall be subject, as between the Parties, to the exclusive right of Buyer to market, sell, and otherwise distribute such products
pursuant to the Authorized Reseller Agreement.

 

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(b)       Approved
Military Organization Transactions and Certain Sales to Defense and Security Organizations and US Homeland Security Agencies. During
the Restricted Period, Seller may: (1) engage in Approved Military Organization Transactions, (2) sell, lease, license, dispose
of and provide goods and services to US Homeland Security Agencies, and (3) sell, lease, license, dispose of and provide goods
and services to Defense and Security Organizations.

 

(c)       Commissions.
The Seller will owe the Buyer the following commissions in connection with the transactions contemplated by Section 7.04(b) made
during the Restricted Period: (1) [*] percent ([*]%) of the Net Sales Price of each Approved Military Organization Transaction;
(2) [*] percent ([*]%) of the Net Sales Price for the transactions contemplated by Section 7.04(b)(2), and (3) [*] percent ([*]%)
of the Net Sales Price for the transactions contemplated by Section 7.04(b)(3).

 

(d)       Commission
Payments. Any commission due under Section 7.04(c) shall be earned and deemed payable to the extent Seller receives any payment
toward the Net Sales Price, and if a customer makes payments to Seller in increments or installments, Seller shall pay Buyer pro
rata commission corresponding to the incremental or installment payments made toward the Net Sales Price. No later than thirty
(30) days following the end of each calendar quarter, Seller shall issue to Buyer payment for all commissions earned in the immediately
preceding calendar quarter. Seller shall keep accurate records of all sales for which commission is due under this Amendment No.
1 and shall submit to Buyer with the above payment a report indicating all such sales, the amount of payments received by Seller
with respect to such sales, and the amount of commission owed to Buyer for such sales.

 

(e)       Audit
Rights. Buyer may, with no less than ten (10) business day’s prior written request to Seller, inspect those of Seller’s
records that relate to transactions for which Buyer is owed a commission, so as to confirm the amounts paid under Section 7.04(d)
are consistent with the commission amounts set out in Section 7.04(c). Such records may be inspected no more than once each calendar
year, and only during Seller’s standard business hours at Seller’s principal office or other mutually agreed upon location
by an independent auditor engaged and paid for by Buyer (the “Auditor”) who shall maintain the confidentiality
of such records pursuant to a reasonable confidentiality agreement. If any such inspection reveals that Seller owes Buyer additional
commissions, such additional commissions shall be paid within thirty (30) days following completion of the respective inspection.
If the inspection report reflects that Seller underpaid the commissions due for the audited period by five percent (5%) or more,
Seller shall bear the reasonable documented fees and expenses of the Auditor. If any such inspection by Buyer reveals that Seller
overpaid Buyer commissions, Seller shall be entitled to a credit against future commissions due hereunder in the amount of such
overpayment; provided, however, that in no event will Buyer have to refund Seller any portion of such overpayment even if Seller
does not use all of such overpayment in the form of credits. Notwithstanding the foregoing, if any audit reflects that Seller underpaid
the commissions due for the audited period by five percent (5%) or more, then Buyer may perform up to two (2) audits in the immediately
following calendar year.

 

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3.       Payments.
As consideration for this Amendment No. 1, Seller shall pay to Buyer the sum of One Million Five Hundred Thousand Dollars ($1,500,000),
as follows: (a) Seven Hundred Fifty Thousand Dollars ($750,000), within three (3) days after the Effective Date of this Agreement;
(b) Five Hundred Thousand Dollars ($500,000), on or before January 4, 2019; and (c) Two Hundred Fifty Thousand Dollars ($250,000),
on or before April 5, 2019.

 

4.       Additional
Commercial Terms.

 

		a.	Reseller Agreement. The Parties agree that (1) the discount Buyer receives under the Reseller Agreement
for all sales Buyer makes to Military Organizations will be reduced to [*] percent ([*]%) for all orders above $5,000; and (2)
that Seller will not be obligated to provide Buyer similar discounts that Seller provides to other resellers of its products and
that any such language in the Reseller Agreement, including Schedule C, is hereby deleted and of no further force or effect.

 

		b.	Sale of Waveguides. Seller will offer to sell Buyer at its standard commercial pricing and on its
standard terms and conditions of sale its standard waveguide display modules and components for incorporation into the goods Buyer
sells to Military Organizations.

 

		c.	Meetings. The Parties will meet at least once each calendar quarter to discuss potential business
opportunities, but neither party will be obligated to enter into any transactions or execute any agreements in connection therewith.

 

 

		d.	Travers Non-Compete. The Buyer confirms that any actions taken by Travers as an officer and director
of the Seller consistent with and in furtherance of Seller’s rights under Section 7.04 of the APA, as amended hereby, are
not deemed a violation of the Travers Non-Compete and Buyer waives any right to claim that such activities are a violation of the
Travers Non-Compete.

 

5.       Representations
and Warranties. Each Party hereby represents and warrants to the other Party that this Amendment No. 1 has been executed
and delivered by such Party through its duly authorized representative and (assuming due authorization, execution, and delivery
by the other Party hereto) constitutes the legal, valid, and binding obligation of such Party, enforceable against such Party in
accordance with its terms.

 

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6.       Date
of Effectiveness; Limited Effect. This Amendment No. 1 will be deemed effective as of the Effective Date. Except as expressly
provided in this Amendment No. 1, all the terms and provisions of the APA and Reseller Agreement are and will remain in full force
and effect and are hereby ratified and confirmed by the Parties. Without limiting the generality of the foregoing, the amendments
contained herein will not be construed as an amendment to or waiver of any other provision of the APA or of any other transaction
documents or as a waiver of or consent to any further or future action on the part of either Party that would require the waiver
or consent of the other Party. On and after the Effective Date, each reference in each of the APA or the Reseller Agreement to
 “this Agreement,” “the Agreement,” “hereunder,” “hereof,” “herein,”
or words of like import, and each reference to the APA or the Reseller Agreement in any other agreements, documents, or instruments
executed and delivered pursuant to, or in connection therewith will mean and be a reference to the APA or the Reseller Agreement,
as applicable as amended by this Amendment No. 1.

 

7.       Miscellaneous.
This Amendment No .1: (a) is governed by, and construed in accordance with, the laws of the State of New York, without giving effect
to the conflict of laws provisions thereof; (b) shall inure to the benefit of and be binding upon each of the Parties and each
of their respective successors and permitted assigns; (c) may be executed in counterparts, each of which is deemed an original,
but all of which constitute one and the same agreement; and (d) constitutes the sole and entire agreement between the Parties with
respect to the subject matter contained herein, and supersedes all prior and contemporaneous understandings, agreements, representations
and warranties, both written and oral, with respect to such subject matter. Delivery of an executed counterpart of this Amendment
No. 1 electronically in portable document format (.pdf) shall be effective as delivery of an original executed counterpart of this
Amendment No. 1.

 

Signatures appear on the following page.

 

    6 

     

    

  

IN WITNESS WHEREOF, each of the Parties
has executed or caused this Agreement to be executed by its duly authorized officer or other authorized person, as of the date
first above written.

 

	 	 	TDG Acquisition Company, LLC	 
	 	 	 	 
	 	 	 	 
	 	By: 	/s/
    Richard Ryan	 
	 	 	 	 
	 	Name:	Richard
    Ryan	 
	 	 	 	 
	 	Title:	CEO	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	Vuzix Corporation	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/
    Grant Russell	 
	 	 	 	 
	 	Name:	Grant
    Russell	 
	 	 	 	 
	 	Title:	EVP &
    CFO	 

 

 

 

    7

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