Document:

Exhibit 4.7

 

THIS INSTRUMENT AND THE SECURITIES ISSUABLE UPON
THE CONVERSION HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”). THEY MAY NOT BE SOLD,
OFFERED FOR SALE, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT
OR UPON RECEIPT BY THE COMPANY OF AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT REGISTRATION IS NOT REQUIRED UNDER THE ACT.

 

CONVERTIBLE PROMISSORY NOTE

 

	No. CN-[NUMBER]	Date of Issuance
	US$[PRINCIPAL AMOUNT]	[DATE]

 

 

FOR VALUE RECEIVED,
WaveTech Group, Inc., a Delaware corporation (the “Company”), hereby promises to pay to the order of [HOLDER NAME]
(the “Holder”), the principal sum of US$[PRINCIPAL AMOUNT] (the “Principal Amount”), together with
interest thereon from the date of issuance of this convertible promissory note (this “Note”). Interest will accrue
at a simple rate of four percent (4%) per annum. Unless earlier converted into Conversion Shares (as defined below), the principal and
accrued interest of this Note will be due and payable by the Company at any time on or after the second anniversary of the date of issuance
stated above (the “Maturity Date”) at the Company’s election.

 

This Note is one of a series
of convertible promissory notes (collectively, the “Series 1 Notes”) issued by the Company to investors with identical
terms and on the same form as set forth herein (except that the holder, principal amount and date of issuance may differ in each Note).
Capitalized terms not otherwise defined in this Note will have the meanings set forth in Section 3.1.

 

1. Payment.
All payments will be made in lawful money of the United States of America at the principal office of the Company, or at such other place
as the Holder may from time to time designate in writing to the Company. Payment will be credited first to accrued interest due and payable,
with any remainder applied to principal. Except in the event of a Corporate Transaction (as set forth in Section 3.3), prepayment of principal,
together with accrued interest, may not be made without the written consent of the Company and the holders (the “Requisite Noteholders”)
of in excess of fifty percent (50%) of the aggregate principal amount of the Series 1 Notes. The Company reserves the right to withhold
all or any part of annual interest accruing under this Note until the Maturity Date or, in lieu of payment thereof, issue shares of Equity
Securities to the Holder in accordance with the terms hereof.

 

2. Security.
This Note is a general unsecured obligation of the Company.

 

3. Conversion.
This Note will be convertible into Equity Securities pursuant to the following terms.

 

     

     

    

 

3.1 Definitions.

 

(a) “Common
Stock” means the Company’s common stock, par value US$0.01 per share.

 

(b) “Conversion
Shares” (for purposes of determining the type of Equity Securities issuable upon conversion of this Note) means:

 

(i) with
respect to a conversion pursuant to Section 3.2, shares of the Equity Securities issued in the Next Equity Financing;

 

(ii) with
respect to a conversion pursuant to Section 3.3, shares of Common Stock; and

 

(iii) with
respect to a conversion pursuant to Section 3.4, shares of Common Stock.

 

(c) “Conversion
Price” means (rounded to the nearest 1/100th of one cent):

 

(i) with
respect to a conversion pursuant to Section 3.2, the product of (x) 100% less the Discount and (y) the lowest per share purchase
price of the Equity Securities issued in the Next Equity Financing;

 

(ii) with
respect to a conversion pursuant to Section 3.3, the quotient resulting from dividing (x) the Valuation Cap by (y) the Fully Diluted Capitalization
immediately prior to the closing of the Corporate Transaction; and

 

(iii) with
respect to a conversion pursuant to Section 3.4, the quotient resulting from dividing (x) the Valuation Cap by (y) the Fully Diluted Capitalization
immediately prior to such conversion.

 

(d) “Corporate
Transaction” means:

 

(i) the
closing of the sale, transfer or other disposition, in a single transaction or series of related transactions, of all or substantially
all of the Company’s assets;

 

(ii) the
consummation of a merger or consolidation of the Company with or into another entity (except a merger or consolidation in which the holders
of capital stock of the Company immediately prior to such merger or consolidation continue to hold a majority of the outstanding voting
securities of the capital stock of the Company or the surviving or acquiring entity immediately following the consummation of such transaction);
or

 

(iii) the
closing of the transfer (whether by merger, consolidation or otherwise), in a single transaction or series of related transactions, to
a “person” or “group” (within the meaning of Section 13(d) and Section 14(d) of the Exchange Act), of the Company’s
capital stock if, after such closing, such person or group would become the “beneficial owner” (as defined in Rule 13d-3 under
the Exchange Act) of more than 50% of the outstanding voting securities of the Company (or the surviving or acquiring entity).

 

For
the avoidance of doubt, a transaction will not constitute a “Corporate Transaction” if its sole purpose is to change
the state of the Company’s incorporation or to create a holding company that will be owned in substantially the same proportions
by the persons who held the Company’s securities immediately prior to such transaction. Notwithstanding the foregoing, the sale
of Equity Securities in a bona fide financing transaction will not be deemed a “Corporate Transaction.”

 

    2

     

    

 

(e) “Discount”
means twenty percent (20%).

 

(f) “Equity
Securities” means (i) Common Stock; (ii) any securities conferring the right to purchase Common Stock; or (iii) any securities
directly or indirectly convertible into, or exchangeable for (with or without additional consideration) Common Stock. Notwithstanding
the foregoing, the following will not be considered “Equity Securities”: (A) any security granted, issued or sold by the Company
to any director, officer, employee, consultant or adviser of the Company for the primary purpose of soliciting or retaining their services;
(B) any convertible promissory notes (including this Note) issued by the Company; and (C) any SAFEs that have been issued by the Company.

 

(g) “Exchange
Act” means the Securities Exchange Act of 1934, as amended.

 

(h) “Fully
Diluted Capitalization” means the number of issued and outstanding shares of the Company’s capital stock, assuming (i)
the conversion or exercise of all of the Company’s outstanding convertible or exercisable securities, including shares of convertible
Preferred Stock and all outstanding vested or unvested options or warrants to purchase the Company’s capital stock; and (ii) solely
for purposes of Section 3.1(c)(i) and 3.1(c)(iii), the issuance of all shares of the Company’s capital stock reserved and available
for future issuance under any of the Company’s existing equity incentive plans or any equity incentive plan created or expanded
in connection with the Next Equity Financing. Notwithstanding the foregoing, “Fully Diluted Capitalization” excludes: (A)
any convertible promissory notes (including this Note) issued by the Company; (B) any SAFEs issued by the Company; and (C) any Equity
Securities that are issuable upon conversion of any outstanding convertible promissory notes or SAFEs.

 

(i) “Next
Equity Financing” means the next sale (or series of related sales) by the Company of its Equity Securities following the date
of issuance of this Note from which the Company receives gross proceeds of not less than $10 million (excluding, for the avoidance of
doubt, the aggregate principal amount of the Series 1 Notes).

 

(j) “Preferred
Stock” means all series of the Company’s preferred stock, whether now existing or hereafter created.

 

(k) “SAFE”
means any simple agreement for future equity (or other similar agreement) which is issued by the Company for bona fide financing purposes
and which may convert into the Company’s capital stock in accordance with its terms.

 

(l) “Securities”
means this Note, the Conversion Shares, and any Common Stock issuable upon conversion of the Conversion Shares.

 

(m) “Securities
Act” means the Securities Act of 1933, as amended.

 

(n) “Subscription
Agreement” means the agreement by which the Holder subscribed for purchase of the Note.

 

(o) “Valuation
Cap” means $104 million.

 

    3

     

    

 

3.2 Next
Equity Financing Conversion. The principal balance and unpaid accrued interest on this Note will automatically convert into Conversion
Shares upon the closing of the Next Equity Financing. The number of Conversion Shares the Company issues upon such conversion will equal
the quotient (rounded down to the nearest whole share) obtained by dividing (x) the outstanding principal balance and unpaid accrued interest
under this Note on a date that is no more than five (5) days prior to the closing of the Next Equity Financing by (y) the applicable Conversion
Price. At least five (5) days prior to the closing of the Next Equity Financing, the Company will notify the Holder in writing of the
terms of the Equity Securities that are expected to be issued in such financing. The issuance of Conversion Shares pursuant to the conversion
of this Note will be on, and subject to, the same terms and conditions applicable to the Equity Securities issued in the Next Equity Financing.

 

3.3 Corporate
Transaction Conversion. In the event of a Corporate Transaction prior to the conversion of this Note pursuant to Section 3.2 or Section
3.4 or the repayment of this Note, at the closing of such Corporate Transaction, this Note will convert into that number of Conversion
Shares equal to the quotient (rounded down to the nearest whole share) obtained by dividing (x) the outstanding principal balance and
unpaid accrued interest of this Note on a date that is no more than five (5) days prior to the closing of such Corporate Transaction by
(y) the applicable Conversion Price.

 

3.4 Maturity
Conversion. At any time on or after the Maturity Date, at the election of Company, this Note will convert into that number of Conversion
Shares equal to the quotient (rounded down to the nearest whole share) obtained by dividing (x) the outstanding principal balance and
unpaid accrued interest of this Note on the date of such conversion by (y) the applicable Conversion Price.

 

3.5  
Conversion Upon Merger into a SPAC. In the event of the merger of the Company into a public special purpose acquisition company
(a “SPAC”) or an affiliate thereof prior to the conversion of this Note pursuant to Section 3.2, Section 3.3 or Section 3.4
or the repayment of this Note, at the closing of such merger, this Note will automatically convert into that number of shares of common
stock of the SPAC equal to the number of shares of common stock of the SPAC that would be issued to the Holder in such merger if the Holder
had converted this Note to Conversion Shares pursuant to Section 3.3 immediately prior to the closing of such merger.

 

4. Representations
and Warranties of the Company. In connection with the transactions contemplated by this Note, the Company hereby represents and warrants
to the Holder as follows:

 

4.1 Due
Organization; Qualification and Good Standing. The Company is a corporation duly organized, validly existing and in good standing
under the laws of the State of Delaware and has all requisite corporate power and authority to carry on its business as now conducted.
The Company is duly qualified to transact business and is in good standing in each jurisdiction in which the failure to so qualify or
to be in good standing would have a material adverse effect on the Company.

 

4.2 Authorization
and Enforceability. Except for the authorization and issuance of the Conversion Shares, all corporate action has been taken on the
part of the Company and its officers, directors and stockholders necessary for the authorization, execution and delivery of this Note.
Except as may be limited by applicable bankruptcy, insolvency, reorganization or similar laws relating to or affecting the enforcement
of creditors’ rights, the Company has taken all corporate action required to make all of the obligations of the Company reflected
in the provisions of this Note valid and enforceable in accordance with its terms.

 

    4

     

    

 

5. “Market
Stand-Off” Agreement.

 

5.1 The
Holder hereby agrees that it will not, without the prior written consent of the managing underwriter, during the period commencing on
the date of the final prospectus relating to the Company’s first underwritten public offering (the “IPO”) of
its Common Stock under the Securities Act, and ending on the date specified by the Company and the managing underwriter(s) (such period
not to exceed one hundred eighty (180) days, or such other period as may be requested by the Company or an underwriter to accommodate
regulatory restrictions on (i) the publication or other distribution of research reports, and (ii) analyst recommendations and opinions):
(A) lend; offer; pledge; sell; contract to sell; sell any option or contract to purchase; purchase any option or contract to sell; grant
any option, right, or warrant to purchase; or otherwise transfer or dispose of, directly or indirectly, any shares of Common Stock or
any securities convertible into or exercisable or exchangeable (directly or indirectly) for Common Stock (whether such shares or any such
securities are then owned by the Holder or are thereafter acquired); or (B) enter into any swap or other arrangement that transfers to
another, in whole or in part, any of the economic consequences of ownership of such securities; whether any such transaction described
in clause (A) or (B) above is to be settled by delivery of Common Stock or other securities, in cash, or otherwise.

 

5.2 The
provisions of Section 5.1 will: (a) apply only to the IPO and will not apply to the sale of any shares to an underwriter pursuant to an
underwriting agreement; (b) not apply to the transfer of any shares to any trust for the direct or indirect benefit of the Holder or the
immediate family of the Holder, provided that the trustee of the trust agrees to be bound in writing by the restrictions set forth herein,
and provided further that any such transfer will not involve a disposition for value; and (c) be applicable to the Holder only if all
officers and directors of the Company are subject to the same restrictions and the Company uses commercially reasonable efforts to obtain
a similar agreement from all stockholders individually owning more than 5% of the outstanding Common Stock. Notwithstanding anything herein
to the contrary, the underwriters in connection with the IPO are intended third-party beneficiaries of this Section 5 and will have the
right, power and authority to enforce the provisions hereof as though they were a party hereto. The Holder further agrees to execute such
agreements as may be reasonably requested by the underwriters in connection with the IPO that are consistent with this Section 5 or that
are necessary to give further effect thereto.

 

5.3 In
order to enforce the covenants in this Section 5, the Company may impose stop transfer instructions with respect to the Holder’s
registrable securities of the Company (and the Company shares or securities of every other person subject to the foregoing restriction)
until the end of such period. The Holder agrees that a legend reading substantially as follows will be placed on all certificates representing
all of the Holder’s registrable securities of the Company (and the Company shares or securities of every other person subject to
the restriction contained in this Section 5:

 

THE SECURITIES REPRESENTED
BY THIS CERTIFICATE ARE SUBJECT TO A LOCK-UP PERIOD BEGINNING ON THE EFFECTIVE DATE OF THE COMPANY’S REGISTRATION STATEMENT FILED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AS SET FORTH IN AN AGREEMENT BETWEEN THE COMPANY AND THE ORIGINAL HOLDER OF THESE SECURITIES,
A COPY OF WHICH MAY BE OBTAINED AT THE COMPANY’S PRINCIPAL OFFICE. SUCH LOCK-UP PERIOD IS BINDING ON TRANSFEREES OF THESE SECURITIES.

 

6. Further
Limitations on Disposition. The Holder further agrees not to make any disposition of all or any portion of the Securities unless and
until the transferee has agreed in writing for the benefit of the Company to make the undertaking set out in Section 5 and: (i) there
is then in effect a registration statement under the Securities Act covering such proposed disposition, and such disposition is made in
connection with such registration statement; or (ii) the Holder has (A) notified the Company of the proposed disposition; (B) furnished
the Company with a detailed statement of the circumstances surrounding the proposed disposition; and (C) if requested by the Company,
furnished the Company with an opinion of counsel reasonably satisfactory to the Company that such disposition will not require registration
under the Securities Act. The Holder agrees not to make any disposition of any of the Securities to the Company’s competitors, as
determined in good faith by the Company.

 

    5

     

    

 

7. Miscellaneous.

 

7.1 Successors
and Assigns. Except as otherwise provided herein, the terms and conditions of this Note will inure to the benefit of, and be binding
upon, the respective successors and assigns of the Company and the Holder; provided, however, that the Company may not assign its obligations
under this Note without the written consent of the Requisite Noteholders. This Note is for the sole benefit of the Company and the Holder
and their respective successors and permitted assigns, and nothing herein, express or implied, is intended to or will confer upon any
other person or entity any legal or equitable right, benefit or remedy of any nature whatsoever under or by reason of this Note.

 

7.2 Choice
of Law. This Note, and all matters arising out of or relating to this Note, whether sounding in contract, tort, or statute will be
governed by and construed in accordance with the internal laws of the State of Delaware, without giving effect to the conflict of laws
provisions thereof to the extent such principles or rules would require or permit the application of the laws of any jurisdiction other
than those of the State of Delaware.

 

7.3 Amendments
and Waivers. Any term of this Note may be amended and the observance of any term may be waived (either generally or in a particular
instance and either retroactively or prospectively) with the written consent of the Company and the Holder. Any waiver or amendment effected
in accordance with this Section 7.3 will be binding upon each future holder of this Note and the Company. The Company’s agreements
with each of the holders of the Series 1 Notes are separate agreements, and the sales of the Notes to each of the holders thereof are
separate sales. Notwithstanding the foregoing, any term of this Note and the other Series 1 Notes may be amended and the observance of
any term may be waived (either generally or in a particular instance and either retroactively or prospectively) with the written consent
of the Company and the Requisite Noteholders. Any waiver or amendment effected in accordance with this Section 7.3 will be binding upon
each holder of a Series 1 Note and each future holder of all such Series 1 Notes.

 

7.4 Notices.
All notices and other communications given or made pursuant hereto will be in writing and will be deemed effectively given: (a) upon personal
delivery to the party to be notified; (b) when sent by email or confirmed facsimile; (c) five (5) days after having been sent by registered
or certified mail, return receipt requested, postage prepaid; or (d) one (1) day after deposit with a nationally recognized overnight
courier, specifying next day delivery, with written verification of receipt. All communications will be sent to the Company at the address
shown on the signature page hereto or to the Holder at the address set forth on the signature page to the Holder’s Subscription
Agreement (or to such email address, facsimile number or other address as subsequently modified by written notice given in accordance
with this Section 7.4).

 

7.5 Titles
and Subtitles. The titles and subtitles used in this Note are included for convenience only and are not to be considered in construing
or interpreting this Note.

 

7.6 Attorneys’
Fees. If any action at law or in equity is necessary to enforce or interpret the terms of this Note, the prevailing party will be
entitled to reasonable attorneys’ fees, costs and necessary disbursements in addition to any other relief to which such party may
be entitled.

 

7.7 Acknowledgment.
For the avoidance of doubt, it is acknowledged that the Holder will be entitled to the benefit of all adjustments in the number of shares
of the Company’s capital stock as a result of any splits, recapitalizations, combinations or other similar transactions affecting
the Company’s capital stock underlying the Conversion Shares that occur prior to the conversion of this Note.

 

7.8 Compulsory
Forum; Service of Process.

 

(a) Except
as otherwise provided in Section 7.8(b), unless the Company consents in writing to the selection of an alternative forum, the Court of
Chancery located in the City of Wilmington, Delaware, County of New Castle, or, if jurisdiction can be acquired, in the United States
District Court for the District of Delaware, shall be the sole and exclusive forums for any action or proceeding seeking to enforce, or
to construe or determine the validity of, any term or provision of this Note, or based on any right arising out of this Note.

 

    6

     

    

 

(b) Notwithstanding
anything to the contrary in Section 7.8(a), unless the Company consents in writing to the selection of an alternative forum, the United
States District Court for the District of Delaware shall be the sole and exclusive forum for any complaint asserting a cause of action
under the Securities Act or the Exchange Act, or any rule or regulation promulgated thereunder, subject to said court having personal
jurisdiction over the indispensable parties named as defendants therein.

 

(c) If
any action the subject matter of which is within the scope of this Section 7.8 is filed in a court other than a court located within the
State of Delaware (a “Foreign Action”) in the name of any holder of this Note or stockholder of the Company, each such
holder or stockholder shall be deemed to have consented to: (i) the personal jurisdiction of the foregoing state and federal courts located
within the State of Delaware (and of the appropriate appellate courts) in connection with any action brought in any such court to enforce
this Section 7.8 (an “Enforcement Action”), and (ii) having service of process made upon such holder or stockholder
in any such Enforcement Action by service upon such holder’s or stockholder's counsel in the Foreign Action as agent for such holder
or stockholder. In all other actions within the scope of this Section 7.8, service of process may be delivered by commercial overnight
courier at the holder’s or stockholder’s last known address in the records of the Company. Each such holder or stockholder
expressly waives service in any other form provided under this Section 7.8, whether under Delaware law, the Hague Convention protocols,
or otherwise.

 

7.9 Waiver
of Jury Trial. THE HOLDER HEREBY WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS
NOTE, THE SECURITIES OR THE SUBJECT MATTER HEREOF OR THEREOF. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL
DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING, WITHOUT LIMITATION, CONTRACT
CLAIMS, TORT CLAIMS (INCLUDING NEGLIGENCE), BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. THIS SECTION HAS BEEN
FULLY DISCUSSED BY EACH OF THE PARTIES HERETO AND THESE PROVISIONS WILL NOT BE SUBJECT TO ANY EXCEPTIONS. EACH PARTY HERETO HEREBY FURTHER
REPRESENTS AND WARRANTS THAT SUCH PARTY HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL, AND THAT SUCH PARTY KNOWINGLY AND VOLUNTARILY
WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL.

 

    7

     

    

 

IN
WITNESS WHEREOF, the Company has executed and delivered this Note to the Holder as of the date first written above.

 

	 	WaveTech Group, Inc.
	 	 	 
	 	By:	  
	 	 	 
	 	Name:	
	 	 	 
	 	Title:	
	 	 	 
	 	Address:	
	 	 	 
	 	Email Address:	
	 	 	 
	 	Title	

 

 

 

8Exhibit 4.8

 

WaveTech GmbH

Wandeldarlehensvertrag / Convertible Loan Agreement

Seite 1 von
11 / Page 1 of 11

 

	Wandeldarlehensvertrag / Convertible Loan Agreement 
	 
	zwischen	 	between
	 	 	 
	
    WaveTech GmbH, 

    mit Sitz: Egermannstraße 1, 53359 Rheinbach,

    diese vertreten durch den einzelvertretungsberechtigten
    

    Geschäftsführer Dag Arild Valand

    („WaveTech GmbH“)

	 
	und	 	and
	 	 	 
	
    Name

    Address

    City

    („Investor”)

 

	
    betreffend

    Investition/Privatplatzierung

    in WaveTech GmbH

     

     

    Präambel:

     

    WaveTech GmbH strebt den Ausbau ihrer Geschäftstätigkeit
    an. Zur Finanzierung plant die WaveTech GmbH Wandeldarlehens-verträge mit gleichen Bedingungen abzuschließen.

     

    Der Investor beabsichtigt, der WaveTech GmbH ein
    Darlehen zu gewähren.

     

    Dies vorausgeschickt, vereinbaren die Vertragsparteien
was folgt:
	 	
    concerning

    investment/private placement 

    into WaveTech GmbH

     

     

    Preamble:

     

    WaveTech GmbH aims to expand its business activities.
    For the financing WaveTech GmbH is planning to conclude convertible loan agreements with the same terms and.

     

     

    The Investor intends to grant WaveTech GmbH a
    loan.

     

     

    In light of the above, the parties hereby agree on
the following:

	 	 	 
	
    1. Darlehensgewährung, Zweckbestimmung

     

    1.1 Der Investor gewährt der WaveTech GmbH
    hiermit ein Darlehen in Höhe von EUR [■ Betrag] („Darlehen“) zum Ausbau der Geschäftstätigkeit.

     

    1.2 Der Investor ist verpflichtet, das Darlehen
    innerhalb von fünf (5) Kalendertagen nach Abschluss dieses Vertrages auf folgendes Bankkonto der WaveTech GmbH einzuzahlen:

     

    Bank:      Deutsche Bank, Bonn

    IBAN:     [____]
	 	
    1. Granting and Intended Use of Loan

     

    1.1 The Investor grants a loan in the amount of
    EUR [■amount] to WaveTech GmbH (the “Loan”) to expand its business activities.

     

    1.2 The Loan is payable to the bank account of
    WaveTech GmbH within five (5) calendar days after closing this Agreement:

     

    Bank:      Deutsche Bank, Bonn

    IBAN:     [____] 

 

    1

     

    

 

	
    2. Verzinsung

     

    2.1 Das Darlehen wird ab dem Tag der Ausreichung
    (Eingang auf dem Bankkonto der WaveTech GmbH) mit einem Jahreszinssatz von [4]% verzinst („Zinsen“). Die Zinsen berechnen
    sich pro rata temporis, wobei ein Jahr mit genauen Tagen (tatsächliche Tage/360) zugrunde gelegt wird.

     

    2.2 Die Zinsen werden

     

    (i)    für
    den Fall, dass die Wandlung nicht vor Ablauf der Festlaufzeit gemäß Ziffer 4. vollzogen wurde, bis zur Beendigung dieses Vertrages
    berechnet

     

    oder

     

    (ii) für
    den Fall, dass die Wandlung gemäß Ziffer 4. vor Ablauf der Festlaufzeit vollzogen wurde, bis zum Tag der Wandlungserklärung
    berechnet.

     

    Die Zinsen sind gemäß Ziffer 3.2 zur
    Zahlung fällig.

     

     

    2.3 Fällt die Beendigung dieses Vertrages
    auf einen Tag, der kein Bankarbeitstag in Nordrhein-Westfalen ist, gilt der nächstfolgende Bankarbeitstag für sämtliche
    Zwecke dieses Vertrages als Datum der Beendigung.

     

    3. Laufzeit, Kündigung

     

    3.1 Sofern nachfolgend nichts anderes bestimmt
    ist, hat dieser Vertrag eine Festlaufzeit bis zum 31. Dezember 2023 („Festlaufzeit“).

     

    Für den Fall, dass die Wandlung gemäß
    Ziffer 4. vor dem Ablauf der Festlaufzeit vollzogen wird, endet dieser Vertrag automatisch zum Zeitpunkt der wirksamen Wandlung gemäß
    Ziffer 4.

     

    3.2 Bei Beendigung dieses Vertrages, ohne dass
    eine Wandlung gemäß Ziffer 4. vollzogen wurde, hat der Investor vorbehaltlich Ziffer 6. einen Anspruch auf Rückzahlung
    des Darlehens nebst Zinsen.

     

    Der Rückzahlungsanspruch bzgl. Darlehen und
    Zinsen ist vorbehaltlich Ziffer 6. 30 Tage nach Beendigung dieses Vertrages zur Zahlung fällig.
	 	
    2. Interest

     

    2.1 The Loan shall bear [4]% interest (annual
    interest rate) starting from the date of its award (receipt of payment in the bank account of WaveTech GmbH) (“Interest”).
    The Interest shall be calculated on a pro rata temporis basis taking into account the exact number of days (actual number of days/360).

     

    2.2 Interest shall be calculated

     

    (i)    in
    the event that the conversion has not been completed before the expiry of the Fixed Term pursuant to section 4. until the termination
    of this Agreement,

     

    or

     

    (ii) in the
    event that the conversion pursuant to section 4. has been completed before the end of the Fixed Term, until the day of the conversion
    declaration.

     

    Interest shall be due for payment in accordance
with section 3.2.

     

    2.3 If the date of the termination is not a banking
    day in North Rhine-Westphalia (Germany), the termination of all aspects pertaining to this Agreement shall be effective on the following
    banking day.

     

    3. Agreement Term, Cancellation

     

    3.1 Provided nothing to the contrary is specified
below this This Agreement has a fixed term until 31 December 2023 (“Fixed Term”).

     

    In the event that the conversion is carried out
    pursuant to section 4. before the end of the Fixed Term, this Contract shall automatically terminate at the time of the effective conversion
    pursuant to section 4.

     

    3.2 In the event of termination of this Agreement
    without a conversion being carried out in accordance with section 4., the Investor shall, subject to section 6., be entitled to repayment
    of the Loan plus Interest.

     

    Subject to section 6, the repayment claim in respect
    of the Loan and Interest is due for payment 30 days after termination of this Agreement.

 

    2

     

    

 

	
    Mit wirksamem Vollzug der Wandlung inkl. Abtretung
    der Darlehensforderung nebst Zinsen an die WaveTech GmbH bzw. an die Zielgesellschaft (jeweils auch „Zessionar“) gemäß
    Ziffer 4. geht der Rückzahlungsanspruch bzgl. Darlehen und Zahlungsanspruch bzgl. Zinsen, soweit dieser abgetreten wurde, auf den
    Zessionar über.

     

     

    Der Rückzahlungsanspruch des Zessionars bzgl.
    Darlehen und der Zahlungsanspruch bzgl. Zinsen ist vorbehaltlich Ziffer 6. und soweit zwischen Zessionar und WaveTech GmbH keine abweichenden
    Vereinbarungen getroffen werden, unverzüglich nach wirksamem Vollzug der Wandlung zur Zahlung fällig.

     

    3.3 Das Recht zur außerordentlichen Kündigung
    aus wichtigem Grund bleibt unberührt. Ein wichtiger Grund liegt insbesondere vor bei:

     

    3.3.1 Antrag auf Eröffnung eines Insolvenzverfahrens
    über das Vermögen der WaveTech GmbH oder Ablehnung mangels Masse;

     

    3.3.2 Beschluss der Liquidation der WaveTech GmbH
    oder Erhebung der Auflösungsklage.

     

    4. Wandlung

     

    4.1 Der Investor ist verpflichtet, das Darlehen
    nebst bis zum Zeitpunkt der Wandlungserklärung aufgelaufener Zinsen nach Wahl der WaveTech GmbH

     

    (a) in Geschäftsanteile an der WaveTech GmbH
    oder

     

    (b) in Anteile an einem der mit der WaveTech GmbH
    verbundenen Unternehmen (jeweils „Zielgesellschaft“) umzuwandeln.

     

    Die Wandlungserklärung ist in einem von der
    WaveTech GmbH bzw. von der Zielgesellschaft zur Verfügung gestellten Formular bis spätestens zum 30. November 2023 in
    der entsprechenden, gesetzlich erforderlichen Form abzugeben. Der Investor kann das entsprechende Formular bei der WaveTech GmbH anfordern.
	 	
    Upon effective execution of the conversion, including
    assignment of the Loan claim together with Interest to WaveTech GmbH respectively the Target Company (in each case also “Assignee”)
    pursuant to section 4, the repayment claim with regard to the Loan and claim for payment with regard to Interest, insofar as this has
    been assigned, shall pass to the Assignee.

     

    The Assignee's repayment claim with regard to
    Loan and the claim for payment with regard to Interest shall be due for payment immediately after effective execution of the conversion,
    subject to section 6. and unless otherwise agreed between the Assignee and WaveTech GmbH.

     

     

    3.3 This is without prejudice to the
    right to terminate the Agreement without notice for serious reasons. Serious reasons include in particular:

     

    3.3.1 Application for the opening of insolvency
    proceedings against assets of WaveTech GmbH or its rejection due to insufficiency of assets;

     

    3.3.2 Resolution to liquidate WaveTech GmbH or
    an action for dissolution.

     

    4. Conversion

     

    4.1 The Investor is obliged to convert the Loan,
    together with Interest accrued up to the date of the conversion declaration, at the discretion of WaveTech GmbH

     

    (a) into shares in Wave Tech GmbH or

     

    (b) in shares in one of the companies affiliated
    with WaveTech GmbH (each the “Target Company”).

     

     

    The declaration of conversion must be submitted
    on a form provided by WaveTech GmbH respectively by the Target Company in the form required by applicable law by 30 November 2023
    at the latest. The Investor may request the relevant form from WaveTech GmbH.

 

    3

     

    

 

	
    4.2 Die Wandlung steht unter der aufschiebenden
    Bedingung, dass die Voraussetzungen für eine wirksame Wandlung bis spätestens 31. Dezember 2023 geschaffen wurden, insbesondere
    - soweit erforderlich - die Gesellschafterversammlung der WaveTech GmbH bzw. die zuständigen Gremien der Zielgesellschaft
    den Bedingungen für eine wirksame Wandlung zugestimmt, insbesondere eine Kapitalerhöhung und die Ausgabe neuer Gesellschaftsanteile,
    beschlossen haben.

     

    4.3 Für den Fall, dass spätestens am
    31. Dezember 2023 die Bedingungen gemäß Ziffer 4.1 und 4.2 erfüllt sind, wird das Darlehen nebst Zinsen in der
    nächsten Finanzierungsrunde in Anteile an der WaveTech GmbH oder an der Zielgesellschaft umgewandelt. Der Wert der ausgegebenen Anteile
    bemisst sich auf Grundlage der Bewertung der WaveTech Gruppe (WaveTech GmbH und mit WaveTech GmbH verbundene Unternehmen) in der nächsten
    Finanzierungsrunds. Der Investor erhält einen Rabatt von [20]% der auf den Anteilswert gewährt wird.

     

    Zur ggf. notwendigen Währungsumrechnung wird
    der Wechselkurs zum Zeitpunkt der Abtretung des Darlehensrückzahlungs-anspruchs an den Zessionar zugrunde gelegt.

     

    4.4 Die Vertragspartner sind sich bewusst, dass
    die Wandlung eine Werthaltigkeits-bescheinigung erfordern kann, welche durch einen Sachverständigen ausgestellt werden muss. Die
    WaveTech GmbH wird diese Bescheinigung für sich selbst und ggf. für die Zielgesellschaft auf eigene Kosten einholen.

     

    4.5 Die Gewährung neuer Geschäftsanteile
erfolgt jeweils gegen Sacheinlage (Abtretung der Darlehensforderung nebst Zinsen des Investors) zu deren jeweiligem Nennwert.
	 	
    4.2 The conversion is subject to the condition
    precedent that the requirements for the conversion will have been met by 31 December 2023 at the latest, i.e. – where
    required - the shareholder meeting of WaveTech GmbH respectively the responsible boards of the Target Company have agreed to the terms
    of effective conversion, especially the capital increase as well as the issuing of additional company shares.

     

     

    4.3 If at the latest on 31 December 2023
    the conditions set out in section 4.1 and 4.2 are met the Loan including Interest will be converted to shares in WaveTech GmbH or in the
    Target Company in the next financing round. The value of the issued shares is determined based on a valuation of the WaveTech Group (WaveTech
    GmbH and companies affiliated with WaveTech GmbH) of the next financing round. The Investor receives a discount of [20]% to the value
    of the granted shares.

     

     

    The exchange rate at the time of the assignment
    of the Loan repayment claim to the Assignee is used for any necessary currency conversion.

     

     

    4.4 The Agreement partners are aware that
the conversion may require a valuation certificate prepared by an expert. The costs of the valuation certificate for WaveTech GmbH and,
as necessary, for the Target Company will be covered by WaveTech GmbH.

     

     

    4.5 New shares shall be granted against contributions
in kind (assignment of Loan receivables including Interest, by the Investor) at par value.

 

    4

     

    

 

	
    4.6 Anstelle des Rechts auf Rückzahlung des
    Darlehens und Zahlung der Zinsen ist der Investor an der WaveTech GmbH bzw. an der Zielgesellschaft mit einer Einlage gemäß
    Ziffer 4.3 beteiligt.

     

    5. Sicherung

     

    Die Darlehensgewährung erfolgt ohne Gewährung
    von Sicherheiten.

     

    6. Qualifizierter Rangrücktritt

     

    6.1 Ist das Darlehen auf dem Konto der WaveTech
    GmbH eingegangen, ist die Rückzahlung des Darlehens sowie die Zahlung der Zinsen und eventueller weiterer Nebenforderungen solange
    und soweit ausgeschlossen, wie zum Zeitpunkt der Fälligkeit aller Darlehen aus diesem Angebot sowie der Zinsen und eventueller weiterer
    Nebenforderungen

     

    a) im Falle der Liquidation oder der Insolvenz
    der WaveTech GmbH die Ansprüche von sämtlichen gegenwärtigen und künftigen vorrangigen Gläubigern (z.B. finanzierende
    Banken, die öffentliche Hand) aus dem Vermögen des WaveTech GmbH noch nicht erfüllt worden sind, oder

     

    b) die Insolvenz der WaveTech GmbH durch die Erfüllung
    der Ansprüche des Investors und aller anderen gleichrangigen Darlehensgeber aus dem Darlehen herbeigeführt wird. Diese Voraussetzung
    ist gegeben, wenn die Leistungen auf alle Darlehen aus diesem Angebot eine rechtliche Zahlungsunfähigkeit, drohende Zahlungsunfähigkeit
    oder eine Überschuldung des WaveTech GmbH im Sinne der §§ 17 bis 19 der Insolvenzordnung (InsO) auslösen.
	 	
    4.6 The Investor will receive shares in WaveTech
    GmbH respectively in the Target Company, as detailed in sections 4.3, in place of his right of Loan repayment and payment of Interest.

     

    5. Collaterals

     

    No collateral is provided for the Loan.

     

     

    6. Qualified Subordination

     

    6.1 Once the Loan has been credited to the account
    of WaveTech GmbH, the repayment of the Loan as well as the payment of Interest and any other additional claims shall be excluded as long
    as and to the extent that, at the time of the maturity of all loans from this offer as well as interest and any other additional claims

     

     

    a) in the event of liquidation or insolvency of
    WaveTech GmbH, the claims of all current and future prior ranking creditors (e.g. financing banks, the public sector) from the assets
    of WaveTech GmbH have not yet been satisfied, or

     

     

    b) the insolvency of WaveTech GmbH is brought
    about by the satisfaction of the claims of the Investor and all other equally ranking lenders under the loan. This condition is met if
    the performance on all loans from this offer results in legal insolvency, impending insolvency or over-indebtedness of WaveTech GmbH within
    the meaning of paragraph 17 to 19 of the German Insolvency Code (InsO).

 

    5

     

    

 

	
    Der Investor verpflichtet sich folglich nach lit.
    a) sowohl im Liquidationsverfahren wie auch im Insolvenzverfahren Befriedigung erst zu verlangen, wenn die Forderungen sämtlicher
    vorrangiger Gläubiger befriedigt sind. Das bedeutet somit, dass der Investor mit seinen Ansprüchen auf Rückzahlung des
    Darlehens und auf Zahlung der Zinsen sowohl im Liquidations- wie auch im Insolvenzverfahren im Rang hinter die in § 39 Abs. 1 Nr.
    1 bis 5 InsO bezeichneten Forderungen anderer Gläubiger der WaveTech GmbH (somit Zinsforderungen und Säumniszuschläge,
    Insolvenzverfahrenskosten, Geldsanktionen, Forderungen auf eine unentgeltliche Leistung und Forderungen auf Rückgewähr eines
    Gesellschafterdarlehen sowie Forderungen aus Rechtshandlungen, die einem solchen Gesellschafterdarlehen wirtschaftlich entsprechen) tritt.
    Der Investor kann bzw. wird somit erst nach sämtlichen Gläubigern des WaveTech GmbH befriedigt werden.

     

    Auch vor Eröffnung eines Insolvenzverfahrens
    verpflichtet sich der Investor nach lit. b), seine Ansprüche nicht geltend zu machen, wenn durch die Geltendmachung bei der WaveTech
    GmbH ein o.g. Insolvenzgrund (rechtliche Zahlungsunfähigkeit, drohende Zahlungsun-fähigkeit oder eine Überschuldung) herbeigeführt
    wird (sog. zeitlich unbegrenzte vorinsolvenzliche Durchsetzungssperre). Der Investor ist sich darüber bewusst, dass hierdurch sämtliche
    Ansprüche aus dem Darlehen (inkl. Zinsen) bereits außerhalb des Insolvenzverfahrens für unbeschränkte Dauer nicht
    mehr durchsetzbar sein können.

     

    Zahlungsunfähigkeit liegt gemäß
    § 17 Abs. 2 InsO vor, wenn der Schuldner (WaveTech GmbH) nicht in der Lage ist, seine fälligen Zahlungspflichten zu erfüllen.
    Zahlungsunfähigkeit wird daher durch eine Gegenüberstellung von Zahlungsmitteln und Zahlungsverpflichtungen ermittelt. Laut
    dem Bundesgerichtshof (BGH, Urteil vom 19.12.2017 – II ZR 88/1) liegt Zahlungsunfähigkeit vor, wenn der Schuldner nicht in
    der Lage ist, sich innerhalb von drei Wochen die zur Begleichung der fälligen Forderungen benötigten finanziellen Mittel zu
    beschaffen und die Liquiditätslücke auf unter 10 Prozent zurückzuführen. Um festzustellen, ob Zahlungsunfähigkeit
    vorliegt, wird eine Liquiditätsbilanz zu einem bestimmten Stichtag erstellt. In die zur Feststellung der Zahlungsunfähigkeit
    aufzustellende Liquiditätsbilanz sind auf der Aktivseite neben den verfügbaren Zahlungsmitteln die innerhalb von drei Wochen
    flüssig zu machenden Mittel einzubeziehen und zu den am Stichtag fälligen und eingeforderten Verbindlichkeiten sowie den innerhalb
    von drei Wochen fällig werdenden und eingeforderten Verbindlichkeiten in Beziehung zu setzen. Ergibt sich aus der Liquiditätsbilanz,
    dass die Liquiditätslücke 10 Prozent der gesamten fälligen Verbindlichkeiten oder mehr beträgt, liegt Zahlungsunfähigkeit
    im Sinne des § 17 InsO vor. Darüber hinaus kann die Zahlungsunfähigkeit widerlegbar vermutet werden, wenn aus dem Gesamtverhalten
    des Schuldners (WaveTech GmbH) für Außenstehende erkennbar ist, das dieser seine Zahlungen eingestellt hat (z. B. durch wiederholt
    nicht eingehaltene Zahlungszusagen, Pfändungen, Voll-streckungen).
	 	
    Consequently, under a), the Investor undertakes,
    both in the liquidation procedure and in the insolvency procedure, to claim satisfaction only when the claims of all prior ranking creditors
    have been satisfied. This means that the Investor, with its claims to repayment of the Loan and payment of Interest in both the liquidation
    and the insolvency proceedings, will rank behind the claims of other creditors of WaveTech GmbH as specified in paragraph 39 clause (1)
    nos. 1 to 5 InsO (thus interest claims and default surcharges, insolvency proceedings costs, monetary sanctions, claims to a gratuitous
    payment and claims to the return of a shareholder loan as well as claims from legal acts which correspond economically to such a shareholder
    loan). The Investor can or will therefore only be satisfied after all creditors of WaveTech GmbH have been satisfied.

     

     

     

    Even prior to the opening of insolvency proceedings,
    the Investor undertakes in accordance with b) not to assert its claims if the assertion of such claims results in the aforementioned reason
    for insolvency (legal insolvency, impending insolvency or over-indebtedness) at WaveTech GmbH (so-called pre-insolvency enforcement block
    for an unlimited period of time). The Investor is aware of the fact that as a result of this, all claims arising from the Loan (including
    Interest) may no longer be enforceable for an unlimited period of time even outside the insolvency proceedings.

     

    Insolvency exists in accordance with paragraph
    17, clause 2 InsO if the debtor (WaveTech GmbH) is not in a position to fulfil its due payment obligations. Insolvency is therefore determined
    by comparing cash and cash equivalents and payment obligations. According to the German Federal Supreme Court (BGH, judgement dated December
    19, 2017 - II ZR 88/1), insolvency exists if the debtor is not able to obtain the financial resources required to settle the due receivables
    within three weeks and the liquidity gap is reduced to less than 10 percent. In order to determine whether insolvency exists, a liquidity
    balance sheet is drawn up as of a certain key date. The liquidity balance sheet to be drawn up to determine insolvency must include on
    the assets side, in addition to the available cash and cash equivalents, the funds to be made liquid within three weeks and must be related
    to the liabilities due and called in on the reporting date and the liabilities due and called in within three weeks. If the liquidity
    balance sheet shows that the liquidity gap amounts to 10 percent or more of the total liabilities due, there is insolvency within the
    meaning of paragraph 17 InsO. In addition, insolvency can be rebuttably presumed if the overall behaviour of the debtor (WaveTech GmbH)
    indicates to outsiders that the debtor has suspended payments (e.g. through repeated failure to meet payment commitments, seizures, executions).

     

 

    6

     

    

 

	
    Drohende Zahlungsunfähigkeit liegt gemäß
    § 18 Abs. 2 InsO vor, wenn der Schuldner (WaveTech GmbH) voraussichtlich nicht in der Lage sein wird, die bestehenden Zahlungspflichten
    im Zeitpunkt deren Fälligkeit zu erfüllen. Das ist der Fall, wenn der Schuldner (WaveTech GmbH) zu einem in der Zukunft liegenden
    Prognosezeitpunkt unfähig sein wird, die zu diesem Zeitpunkt bestehenden Zahlungspflichten zu begleichen. Die drohende Zahlungsunfähigkeit
    erfordert somit eine Prognose der künftigen Liquiditätslage. Die Feststellung erfolgt mit Hilfe eines Finanzplans (Liquiditätsplans).
    In diesem werden die erwarteten prognostizierten Ein- und Auszahlungen für einen gewissen Zeitraum abgebildet. Drohende Zahlungsunfähigkeit
    liegt dann vor, wenn der Eintritt der Zahlungsunfähigkeit wahrscheinlicher ist als deren Vermeidung. Die erforderliche Mindestwahrscheinlichkeit
    muss dabei über 50 % liegen. Die drohende Zahlungsunfähigkeit als Insolvenzgrund setzt einen Insolvenzantrag des Schuldners
    (WaveTech GmbH) voraus.

     

    Überschuldung gemäß § 19
    Abs. 2 InsO liegt vor, wenn das Vermögen des Schuldners (WaveTech GmbH) die bestehenden Verbindlichkeiten nicht mehr deckt, es sei
    denn, die Fortführung des Unternehmens ist nach den Umständen überwiegend wahrscheinlich. Ob das Vermögen die bestehenden
    Verbindlichkeiten deckt, wird mittels der Aufstellung eines Überschuldungsstatus festgestellt, in dem die Aktiva den Passiva jeweils
    bewertet zu Liquidationswerten gegenüber gestellt werden. Ergibt sich anhand des Überschuldungsstatus eine rechnerische Überschuldung,
    liegt der Insolvenzgrund der Überschuldung nur dann vor, wenn die Fortführung des Unternehmens nach den Umständen nicht
    überwiegend wahrscheinlich ist. Dies wird im Rahmen einer Fortführungsprognose ermittelt, die aus einer zukunftsorientierten
    Kostendeckungs-rechnung besteht, aus der sich ergibt, ob der (Schuldner) WaveTech GmbH im laufenden und folgenden Geschäftsjahr imstande
    ist, seine fälligen Verbindlichkeiten zu erfüllen. Deckt das Vermögen des Schuldners (WaveTech GmbH) die bestehenden Verbindlichkeiten
    nicht mehr und ist die Fortführung des Unternehmens nach den Umständen nicht überwiegend wahrscheinlich, liegt eine Überschuldung
    im Sinne der Insolvenzordnung vor.
	 	
    Impending insolvency is deemed to exist in accordance
    with paragraph 18 clause 2 InsO if the debtor (WaveTech GmbH) is unlikely to be in a position to fulfil the existing payment obligations
    when they become due. This is the case if the debtor (WaveTech GmbH) is unlikely to be able to meet the existing payment obligations at
    a future forecast date. The impending insolvency therefore requires a forecast of the future liquidity situation. This is determined with
    the aid of a finance plan (liquidity plan). This plan shows the expected forecast incoming and outgoing payments for a certain period
    of time. Impending insolvency is deemed to exist if the occurrence of insolvency is more likely than its avoidance. The required minimum
    probability must be above 50 %. Impending insolvency as a reason for insolvency requires an insolvency application by the debtor (WaveTech
    GmbH).

     

     

     

     

    Over-indebtedness in accordance with paragraph
    19 clause 2 InsO exists if the assets of the debtor (WaveTech GmbH) no longer cover the existing liabilities, unless the continuation
    of the company is predominantly probable under the circumstances. Whether the assets cover the existing liabilities is determined by drawing
    up an over-indebtedness status, in which the assets are compared with the liabilities, each valued at liquidation value. If the over-indebtedness
    status results in arithmetical over-indebtedness, the reason for insolvency is only given if the circumstances do not make it predominantly
    probable that the company will continue as a going concern. This is determined within the scope of a going concern forecast, which consists
    of a future-oriented cost-covering calculation that determines whether the (debtor) WaveTech GmbH is capable of meeting its due liabilities
    in the current and subsequent financial years. If the assets of the debtor (WaveTech GmbH) no longer cover the existing liabilities and
    the continuation of the company is not predominantly probable under the circumstances, the company is over-indebted within the meaning
    of the German Insolvency Code.

 

    7

     

    

 

	
    6.2 Im Fall der Nachrangigkeit gemäß
    Ziffer 6.1 dürfen die Zinsen und die Tilgung des Darlehens nur aus Einkünften, Liquiditätsüberschüssen und
    sonstigem die Verbindlichkeiten der WaveTech GmbH übersteigenden freien Vermögen des WaveTech GmbH geleistet werden.

     

    6.3 Die Nachrangigkeit gemäß Ziffer 6.1
    schließt die Aufrechnung sowohl mit Forderungen der WaveTech GmbH gegen Forderungen des Investors als auch mit Forderungen des Investors
    gegen Forderungen der WaveTech GmbH aus.

     

    6.4 Erhält der Investor trotz der Nachrangigkeit
    gemäß Ziffer 6.1, auch im Wege der Aufrechnung gemäß Ziffer 6.3 eine Leistung aus dem Darlehen, hat er diese ungeachtet
    anderer Vereinbarungen der WaveTech GmbH zurückzugewähren.

     

     

    6.5 Sämtliche nachrangigen Darlehen aus diesem
    Beteiligungsangebot sind im Verhältnis untereinander und auch im Verhältnis zu anderen nachrangigen Darlehen aus anderen Beteiligungsangeboten
    jeweils gleichrangig.
	 	
    6.2 In the event of subordination in accordance
    with section 6.1 Interest and repayment of the Loan may only be paid from income, liquidity surpluses and other free assets of WaveTech
    GmbH that exceed the liabilities of WaveTech GmbH.

     

    6.3 The subordination in accordance with section
    6.1 excludes the possibility of offsetting claims of WaveTech GmbH against claims of the Investor as well as claims of the Investor against
    claims of WaveTech GmbH.

     

     

    6.4 If the Investor receives a payment from the
    Loan despite the subordination in accordance with section 6.1, even by way of offsetting in accordance with section 6.3, it must return
    this payment to WaveTech GmbH, regardless of any other agreements.

     

    6.5 All subordinated loans from this offer shall
    have equal ranking in relation to each other and also in relation to other subordinated loans from other offers.

 

    8

     

    

 

	
    7. Abtretbarkeit dieses Vertrages

     

    Weder dieser Vertrag noch irgendein Recht, Rechtsmittel,
    oder eine sonstige Verpflichtung oder Verbindlichkeit, die sich aus diesem Vertrag ergibt, ist durch eine der Parteien ohne vorherige
    Zustimmung der jeweils anderen Parteien abtretbar. Vom Zustimmungsvorbehalt ausgenommen sind Abtretungen an die WaveTech GmbH und die
    Zielgesellschaft.

     

    8. Mitteilungen

     

    8.1 Sämtliche Mitteilungen oder Nachrichten
    aus oder im Zusammenhang mit diesem Vertrag haben schriftlich, per Telefax oder E-mail zu erfolgen.

     

    8.2 Die Adresse, Faxnummer oder E-Mail-Adresse
    des Investors und der WaveTech GmbH für sämtliche Mitteilungen aus oder im Zusammenhang mit diesem Vertrag sind wie folgt:

     

    Investor:

    Adresse:

    Fax:

    E-Mail:

     

    WaveTech GmbH:

    Adresse: Egermannstraße 1, 53359 Rheinbach

    Fax: +49 (0) 2226 8715 58

    E-Mail: post@wavetech.de

     

    9. Vollmacht

     

    Zur Durchführung der Wandlung gemäß
    Ziffer 4. wird der Investor eine Vollmacht erteilen. Das Vollmachtsformular ist diesem Vertrag als Annex A beigefügt.
	 	
    7. Assignability

     

    Neither this Agreement nor any of the rights,
    legal remedies or liabilities arising from it are assignable to a third party without previous consent of the other party. Assignments
    to WaveTech GmbH and the Target Company are excluded from this consent.

     

     

     

    8. Notifications

     

    8.1 All notifications in connection with this
    Agreement must be made either in writing, by telefax or e-mail.

     

     

    8.2 The following postal addresses, fax numbers
    and e-mail addresses of the Investor and WaveTech GmbH will be used for communication in connection with this Agreement:

     

     

    Investor:

    Address:

    Fax:

    E-mail:

     

    WaveTech GmbH:

    Address: Egermannstraße 1, 53359 Rheinbach

    Fax: +49 (0) 2226 8715 58

    E-mail: post@wavetech.de

     

    9. Power of Attorney

     

    The Investor will grant a power of attorney to
    effect the conversion according to section 4. The power of attorney is attached to this Agreement as Annex A.

 

    9

     

    

 

	
    10. Schlussbestimmungen

     

    10.1 Die Kosten für die Erstellung, den Abschluss
    oder Umsetzung dieses Vertrages trägt WaveTech GmbH.

     

    10.2. Der Inhalt dieses Vertrages ist von den
    Parteien vollständig vertraulich zu behandeln; er darf jedoch offengelegt werden gegenüber Angestellten, Investoren oder Beratern
    der jeweiligen Partei, die einer vergleichbaren Vertraulichkeitsverpflichtung gegenüber der jeweils anderen Partei unterliegen, oder
    gegenüber Steuer- und anderen Behörden, soweit dies rechtlich erforderlich ist.

     

    10.3 Alle Vereinbarungen, die vor oder bei Vertragsschluss
    zwischen der WaveTech GmbH und dem Investor im Zusammenhang mit diesem Vertrag getroffen werden, sind in dem Vertrag schriftlich niedergelegt.
	 	
    10. Final Clauses

     

    10. 1The cost of the closing and realization of
    this Agreement shall be covered by WaveTech GmbH.

     

    10.2 The contents of this Agreement shall be treated
    strictly confidential by all parties; the parties may, however, disclose them towards their employees, investors or advisors, who are
    bound by a comparable confidentiality obligation, as well as to tax and other authorities/government agencies if legally required.

     

     

    10.3 All agreements made between WaveTech GmbH
    and the Investor in connection with this Agreement prior to or upon conclusion of the Agreement are set out in writing in the Agreement.

	 	 	 
	10.4 Falls eine Bestimmung dieses Vertrages ganz oder teilweise unwirksam oder nichtig ist oder wird, so wird dadurch die Wirksamkeit des Vertrages im Übrigen nicht berührt. Soweit die Bestimmungen nicht Vertragsbestandteil geworden oder unwirksam sind, richtet sich der Inhalt des Vertrags nach den gesetzlichen Vorschriften.	 	10.4 In case a provision of this Agreement is or becomes completely or partly ineffective or void, the validity of the remaining provisions shall not be affected thereby. Insofar as the provisions have not become part of the Agreement or are invalid, the content of the Agreement shall be governed by the statutory provisions. 
	 	 	 
	10.5. Dieser Vertrag unterliegt deutschem Recht.	 	10.5 This Agreement is governed by German law. 
	 	 	 
	10.6 Im Fall von Widersprüchen zwischen der englischen und deutschen Fassung dieses Vertrages hat die deutschsprachige Fassung Vorrang. 	 	10.6 In case of discrepancies between the English and the German versions of this Agreement the German version shall prevail. 
	 	 	 
	10.7 Dieser Vertrag wird in zwei Ausfertigungen unterzeichnet, eine für jede Vertragspartei.	 	10.7 This Agreement is signed in two counterparts, one for each party. 

 

    10

     

    

 

 

 

 

 

Place / Date 2022

 

	Wave Tech GmbH	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	Dag Arild Valand

Geschäftsführer/Managing Director	 	Signature Investor

 

 

Anlagen/Annex

Annex A: Vollmacht / Annex A: Power of Attorney

 

    11

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