Document:

Exhibit 10.2 

 

INVESTMENT MANAGEMENT TRUST AGREEMENT 

 

This Investment Management Trust Agreement (this “Agreement”)
is made effective as of _____, 2022, by and between Forest Acquisition Corp, a British Virgin Islands corporation (the “Company”),
and Computershare Trust Company, N.A., a federally chartered trust corporation (the “Trustee”).

 

WHEREAS, the Company’s registration statement,
as amended, on Form S-1, File No. 333-___ (the “Registration Statement”) for the initial public offering
(such initial public offering hereinafter referred to as the “Offering”) of the Company’s units (the “Units”),
each of which consists of: (i) one ordinary share (the “Ordinary Share”); (ii) one redeemable warrant (“Warrant”)
entitling the holder thereof to purchase one-half of one Ordinary Share; and (iii) one right (“Right”) to receive
1/10th of an Ordinary Share has been declared effective as of the date hereof by the U.S. Securities and Exchange Commission
(the “SEC”); and

 

WHEREAS, the Company has entered into an Underwriting
Agreement (the “Underwriting Agreement”) with Ladenburg Thalmann & Co. Inc., as representative (the
“Representative”) of the several underwriters (the “Underwriters”) named therein;
and

 

WHEREAS, the Company has previously or simultaneously
herewith entered into agreements with Computershare Trust Company N.A. and Computershare Inc. collectively as transfer agent (the “Transfer
Agent”), whereby the Transfer Agent shall serve as transfer agent and registrar with respect to the Units, the Ordinary
Shares, Warrants and Rights.

 

WHEREAS, as described in the Registration Statement,
an aggregate of $66,000,0000 consisting of proceeds of the Offering and a portion of the sale proceeds of the sale of 232,000 Private
Placement Units issued to Bit Mining Management Corp. (“Sponsor”) as sponsor of the Company (or $75,900,000 if the
Underwriters’ option to purchase additional units is exercised in full) will be delivered to the Trustee to be deposited and held
in a segregated trust account located at all times in the United States (the “Trust Account”) for the benefit
of the Company and the holders of the Ordinary Shares included in the Units issued in the Offering as hereinafter provided (the amount
to be delivered to the Trustee (and any interest subsequently earned thereon and any Extension Payment as described in the paragraph below)
is referred to herein as the “Property,” the stockholders for whose benefit the Trustee shall hold the Property
will be referred to as the “Public Stockholders,” and the Public Stockholders and the Company will be referred
to together as the “Beneficiaries”); and

 

WHEREAS, as described Registration Statement and
in its Amended and Restated Memorandum and Articles of Association, the Company’s ability to complete a business combination may
be extended in additional increments of one-month up to a total of 12 additional months from the closing date of the Offering, subject
to the payment into the Trust Account by the Sponsor (or its designees or affiliates) of the sum of $2,640,000 (or $3,036,000 in the event
that the Underwriters’ option to purchase additional units is exercised in full) (the “Extension Payment”), representing
the sum of $0.40 per Ordinary Share sold to Public Stockholders, and which Extension Payments, if any, shall be added to the Trust Account.

 

WHEREAS, pursuant to the Underwriting Agreement,
a portion of the Property equal to $1,650,000, or $1,897,500 if the Underwriters’ over-allotment option is exercised in full, is
attributable to deferred underwriting discounts and commissions that may be payable by the Company to the Underwriters upon the consummation
of the Business Combination (as defined below) (the “Deferred Discount”); and

 

WHEREAS, the Company and the Trustee desire to
enter into this Agreement to set forth the terms and conditions pursuant to which the Trustee shall hold the Property.

 

NOW THEREFORE, IT IS AGREED:

 

1. Agreements and Covenants of Trustee. The Trustee hereby agrees
and covenants to:

 

(a) Hold the Property in trust for the Beneficiaries
in accordance with the terms of this Agreement in the Trust Account established by the Trustee in the United States at Bank of America,
N.A. (or at another U.S. chartered commercial bank with consolidated assets of $100 billion or more), maintained by the Trustee and
at a brokerage institution selected by the Trustee that is reasonably satisfactory to the Company;

 

     

    

    

 

(b) Manage, supervise and administer the Trust
Account subject to the express terms and conditions set forth herein;

 

(c) In a timely manner, upon the written instruction
of the Company, invest and reinvest the Property in United States government securities within the meaning of Section 2(a)(16) of
the Investment Company Act of 1940, as amended, having a maturity of 185 days or less, or in money market funds meeting the conditions
of paragraphs (d)(1), (d)(2), (d)(3) and (d)(4) of Rule 2a-7 promulgated under the Investment Company Act of 1940, as amended (or any
successor rule), which invest only in direct U.S. government treasury obligations, as determined by the Company; the Trustee may not invest
in any other securities or assets, it being understood that the Trust Account will earn no interest while account funds are uninvested
awaiting the Company’s written instructions hereunder and the Trustee may earn bank credits or other consideration during such periods;

 

(d) Collect and receive, when due, all interest
or other income arising from the Property, which shall become part of the “Property,” as such term is used herein;

 

(e) As soon as practicable, notify the Company
and the Representative of all communications received by the Trustee with respect to any Property requiring action by the Company;

 

(f) Supply any necessary information or documents
as may be reasonably requested by the Company (or its authorized agents) in connection with the Company’s preparation of the tax
returns relating to assets held in the Trust Account;

 

(g) At the Company’s sole cost and expense
(including any advancements required by the Trustee) and subject to indemnification provided therefor, participate in any plan or proceeding
for protecting or enforcing any right or interest arising from the Property if, as and when instructed by the Company to do so; provided,
that, such participation is not in conflict with the Trustee’s interest nor limits the rights and immunities of the Trustee hereunder;

 

(h) Render to the Company monthly written statements
of the activities of, and amounts in, the Trust Account reflecting all receipts and disbursements of the Trust Account;

 

(i) Commence liquidation of the Trust Account
only after and as soon as practicable after (x) receipt of, and only in accordance with, the terms of a letter from the Company (“Termination
Letter”) in a form substantially similar to that attached hereto as either Exhibit A or Exhibit B signed on
behalf of the Company by its Chief Executive Officer, President, Chief Financial Officer, Secretary or Chairman of the board of directors
of the Company (the “Board”), plus additional amounts that may be released to us to pay our franchise and income
tax obligations, if any (less up to $100,000 of interest that may be released to the Company to pay dissolution expenses), only as directed
in the Termination Letter and the other documents referred to therein, or (y) upon (1) the date which is 24 months after the closing
of the Offering or (2) such later date as may be approved by the Company’s stockholders in accordance with the Company’s
amended and restated certificate of incorporation if a Termination Letter has not been received by the Trustee prior to such date, in
which case the Trust Account shall be liquidated in accordance with the procedures set forth in the Termination Letter attached as Exhibit
B and the Property in the Trust Account, including interest not previously released to the Company to fund the Company’s Regulatory
Withdrawals and/or additional amounts necessary to pay its franchise and income tax obligations, if any (less up to $100,000 of interest
that may be released to the Company to pay dissolution expenses) shall be distributed to the Public Stockholders of record as of such
date;

 

(j) Upon written request from the Company, which
may be given from time to time in a form substantially similar to that attached hereto as Exhibit C (a “Tax Payment
Withdrawal Instruction”), withdraw from the Trust Account and distribute to the Company the amount of interest earned on
the Property requested by the Company to cover any income or franchise tax obligation owed by the Company as a result of assets of the
Company or interest or other income earned on the Property, which amount shall be delivered directly to the Company by electronic funds
transfer or other method of prompt payment, and the Company shall forward such tax payment to the relevant taxing authority; provided,
however, that to the extent there is not sufficient cash in the Trust Account to pay such tax obligation, the Trustee shall liquidate
such assets held in the Trust Account as shall be designated by the Company in writing to make such distribution; provided, further,
that if the tax to be paid is a franchise tax, the written request by the Company to make such distribution shall be accompanied by a
copy of the franchise tax bill from the State of Delaware for the Company and a written statement from the Chief Financial Officer of
the Company setting forth the actual amount payable. The written request of the Company referenced above shall constitute presumptive
evidence that the Company is entitled to said funds, and the Trustee shall have no responsibility to look beyond said request;

 

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(k) Upon written request from the Company, which
may be given from time to time in a form substantially similar to that attached hereto as Exhibit E (a “Stockholder
Redemption Withdrawal Instruction”), the Trustee shall distribute on behalf of the Company the amount requested by the Company
to be used to redeem shares of Common Stock from Public Stockholders properly submitted in connection with a stockholder vote to approve
an amendment to the Company’s amended and restated certificate of incorporation that would affect the substance or timing of the
Company’s obligation to redeem 100% of its public shares of Common Stock if the Company has not consummated an initial Business
Combination within such time as is described in the Company’s amended and restated certificate of incorporation. The Stockholder
Redemption Withdrawal Instruction shall constitute presumptive evidence that the Company is entitled to distribute said funds, and the
Trustee shall have no responsibility to look beyond and shall not be liable for complying with said request; and

 

(l) Not make any withdrawals or distributions
from the Trust Account other than pursuant to Sections 1(i), 1(j), 1(k) or 1(l) above.

 

2. Agreements and Covenants of the Company.
The Company hereby agrees and covenants to:

 

(a) Give all instructions to the Trustee hereunder
in writing, signed by the Company’s Chairman of the Board, President, Chief Executive Officer, Chief Financial Officer or Secretary
or other authorized officer of the Company. In addition, except with respect to its duties under Sections 1(i), 1(j), 1(k)
and 1(l) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice
or instruction which it, in the absence of bad faith, believes to be given by any one of the persons authorized above to give written
instructions. The Company shall promptly confirm such instructions in writing;

 

(b) Subject to Section 4 hereof, hold
the Trustee harmless and indemnify the Trustee and its sub agents from and against any and all expenses, including reasonable counsel
fees and disbursements, or losses, liability, damage, judgment, fine, penalty, claim, demand, settlement, cost or expense (including,
without limitation, the reasonable fees and expenses of legal counsel) that may be paid, incurred or suffered by the Trustee in connection
with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving
any claim, or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the
Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s
gross negligence, fraud or willful misconduct (in each case as finally determined by a court of competent jurisdiction) for any action
taken, suffered, or omitted to be taken by the Trustee in connection with the execution, acceptance, administration, exercise and performance
of its duties under this Agreement, including the costs and expenses of defending against any claim of liability arising therefrom, directly
or indirectly, or enforcing its rights hereunder. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement
of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(b),
it shall notify the Company in writing of such claim (hereinafter referred to as the “Indemnified Claim”). The
Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided that the Trustee shall
obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld, conditioned
or delayed. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent
shall not be unreasonably withheld, conditioned or delayed. The Company may participate in such action with its own counsel and at its
own expense;

 

(c) Pay the Trustee the fees, expenses and costs
in accordance with a mutually agreed upon schedule to be executed on or about the date hereof, including an initial acceptance fee, annual
administration fee, and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is
expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to
Sections 1(i) through 1(l) hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual administration
fee at the consummation of the Offering. The Trustee shall refund to the Company the monthly fee (on a pro rata basis) with respect to
any period after the liquidation of the Trust Account. The Company shall not be responsible for any other fees or charges of the Trustee
except as set forth in this Section 2(c), the fee schedule and as may be provided in Section 2(b) hereof;

 

(d) In connection with any vote of the Company’s
stockholders regarding a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination
involving the Company and one or more businesses (the “Business Combination”), provide to the Trustee an affidavit
or certificate of the inspector of elections for the stockholder meeting verifying the vote of such stockholders regarding such Business
Combination;

 

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(e) Provide the Representative with a copy of
any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal from the
Trust Account promptly after it issues the same;

 

(f) Instruct the Trustee in writing to make only
those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any distributions that are
not permitted under this Agreement; and

 

(g) Within four (4) business days after the
Underwriters exercise the over- allotment option (or any unexercised portion thereof) or such over-allotment expires, provide the Trustee
with a notice in writing of the total amount of the Deferred Discount, which shall in no event be less than $1,650,000.

 

3. Limitations of Liability. The Trustee
shall have no responsibility or liability to:

 

(a) Imply obligations, perform duties, inquire
or otherwise be subject to the provisions of any Agreement or document other than this Agreement and that which is expressly set forth
herein;

 

(b) Take any action with respect to the Property,
other than as directed in Section 1 hereof, and the Trustee shall have no liability to any party except for liability arising out
of the Trustee’s gross negligence, fraud or willful misconduct (in each case as finally determined by a court of competent jurisdiction)
for any action taken, suffered, or omitted to be taken by the Trustee in connection with the execution, acceptance, administration, exercise
and performance of its duties under this Agreement;

 

(c) Institute any proceeding for the collection
of any principal and income arising from, or institute, appear in or defend any proceeding of any kind with respect to, any of the Property
unless and until it shall have received instructions from the Company given as provided herein to do so and the Company shall have advanced
or guaranteed to it funds sufficient to pay any expenses incident thereto;

 

(d) Refund any depreciation in principal of any
Property;

 

(e) Assume that the authority of any person designated
by the Company to give instructions hereunder shall not be continuing unless provided otherwise in such designation, or unless the Company
shall have delivered a written revocation of such authority to the Trustee;

 

(f) The other parties hereto or to anyone else
for any action taken or omitted by it, or any action suffered by it to be taken or omitted, except for the Trustee’s gross negligence,
fraud or willful misconduct (in each case as finally determined by a court of competent jurisdiction) for any action taken, suffered,
or omitted to be taken by the Trustee in connection with the execution, acceptance, administration, exercise and performance of its duties
under this Agreement. The Trustee may rely conclusively and shall be protected in acting upon any order, notice, demand, certificate,
opinion or advice of counsel (including counsel chosen by the Trustee, which counsel may be the Company’s counsel), statement, instrument,
report or other paper or document (not only as to its due execution and the validity and effectiveness of its provisions, but also as
to the truth and acceptability of any information therein contained) which the Trustee believes, in the absence of bad faith, to be genuine
and to be signed or presented by the proper person or persons. The Trustee shall not be bound by any notice or demand, or any waiver,
modification, termination or rescission of this Agreement or any of the terms hereof, unless evidenced by a written instrument delivered
to the Trustee, signed by the proper party or parties and, if the duties or rights of the Trustee are affected, unless it shall give its
prior written consent thereto;

 

(g) Verify the accuracy of the information contained
in the Registration Statement;

 

(h) Provide any assurance that any Business Combination
entered into by the Company or any other action taken by the Company is as contemplated by the Registration Statement;

 

(i) File information returns with respect to the
Trust Account with any local, state or federal taxing authority or provide periodic written statements to the Company documenting the
taxes payable by the Company, if any, relating to any interest income earned on the Property;

 

(j) Prepare, execute and file tax reports, income
or other tax returns and pay any taxes with respect to any income generated by, and activities relating to, the Trust Account, regardless
of whether such tax is payable by the Trust Account or the Company, including, but not limited to, franchise and income tax obligations,
except pursuant to Section 1(j) hereof; or

 

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(k) Verify calculations, qualify or otherwise
approve the Company’s written requests for distributions pursuant to Sections 1(i), 1(j), 1(k) and 1(l)
hereof.

 

(l) Compensate the Company or any other person
for and shall have no responsibility or liability for any diminution of the Property that may result from any deposit made by Trustee
in accordance with this Agreement, including any losses resulting from a default by any bank, financial institution or other third party.

 

Notwithstanding anything in this Agreement to
the contrary, any liability of the Trustee under this Agreement will be limited to the amount of annual fees (but not reimbursed costs)
paid by the Company to the Trustee during the twelve (12) months immediately preceding the event for which recovery from the Trustee
is being sought (except for liability resulting from the Trustee’s gross negligence, fraud or willful misconduct in each case as
determined by a final non-appealable judgment of a court of competent jurisdiction). Anything to the contrary notwithstanding, in no event
will the Trustee be liable for special, punitive, indirect, incidental or consequential loss or damages of any kind whatsoever (including,
without limitation, lost profits), even if apprised of the possibility of such loss or damages.

 

No provision of this Agreement shall require the
Trustee to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder or
in the exercise any of its rights or powers if it believes that repayment of such funds or adequate indemnification against such risk
or liability is not reasonably assured to it.

 

The Trustee shall not be required to take notice
or be deemed to have notice of any event or condition hereunder, including any event or condition that may require action by the Trustee,
unless the Trustee shall be specifically notified in writing of such event or condition by the Company, and all notices or other instruments
required by this Agreement to be delivered to the Trustee must, in order to be effective, be received by the Trustee as specified herein,
and in the absence of such notice so delivered, the Trustee may conclusively assume no such event or condition exists.

 

Whenever in the performance of its duties under
this Agreement the Trustee shall deem it necessary or desirable that any fact or matter be proved or established by the Company prior
to taking, suffering, or omitting to take any action hereunder, such fact or matter (unless other evidence in respect thereof be herein
specifically prescribed) may be deemed to be conclusively proved and established by a certificate signed by a person believed by the Trustee
to be the Chief Executive Officer, President, Chief Financial Officer, Secretary or Chairman of the Board or other authorized officer
of the Company, and delivered to the Trustee; and such certificate shall be full authorization and protection to the Trustee and the Trustee
shall incur no liability for or in respect of any action taken, suffered or omitted to be taken by it under the provisions of this Agreement
in reliance upon such certificate. The Trustee shall have no duty to act without such a certificate.

 

The obligations of the Company and the rights
and immunities of the Trustee contained in this Section 3 shall survive the termination of this Agreement and the resignation, replacement
or removal of the Trustee.

 

4. Trust Account Waiver. The Trustee has
no right of set-off or any right, title, interest or claim of any kind (“Claim”) to, or to any monies in, the
Trust Account, and hereby irrevocably waives any Claim to, or to any monies in, the Trust Account that it may have now or in the future.
In the event the Trustee has any Claim against the Company under this Agreement, including, without limitation, under Section 2(b)
or Section 2(c) hereof, the Trustee shall pursue such Claim outside the Trust Account and not against the Property or any
monies in the Trust Account.

 

5. Termination. This Agreement shall terminate
as follows:

 

(a) If the Trustee gives written notice to the
Company that it desires to resign under this Agreement, the Company shall use its reasonable efforts to locate a successor trustee, pending
which the Trustee shall continue to act in accordance with this Agreement. At such time that the Company notifies the Trustee that a successor
trustee has been appointed and has agreed to become subject to the terms of this Agreement, the Trustee shall transfer the management
of the Trust Account to the successor trustee, including but not limited to the transfer of copies of the reports and statements relating
to the Trust Account, whereupon this Agreement shall terminate; provided, however, that in the event that the Company does
not locate a successor trustee within ninety (90) days of receipt of the resignation notice from the Trustee, the Trustee, at the
Company’s cost and expense, may submit an application to have the Property deposited with any court in the State of New York or
with the United States District Court for the Southern District of New York and upon such deposit, the Trustee shall be immediately discharged
from the Agreement and immune from any liability whatsoever; or

 

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(b) At such time that the Trustee has completed
the liquidation of the Trust Account and its obligations in accordance with the provisions of Section 1(i) hereof (which section
may not be amended under any circumstances) and distributed the Property in accordance with the provisions of the Termination Letter,
subject to the survival provisions contained in Section 3, this Agreement shall terminate except with respect to Section 2(b).

 

6. Miscellaneous.

 

(a) The Company and the Trustee each acknowledge
that the Trustee will follow the security procedures set forth below with respect to funds transferred from the Trust Account. The Company
and the Trustee will each restrict access to confidential information relating to such security procedures to authorized persons. Each
party must notify the other party immediately if it has reason to believe unauthorized persons may have obtained access to such confidential
information, or of any change in its authorized personnel. In executing funds transfers, the Trustee shall rely upon all information supplied
to it by the Company, including, account names, account numbers, and all other identifying information relating to a Beneficiary, Beneficiary’s
bank or intermediary bank. Except for any liability arising out of the Trustee’s gross negligence, fraud or willful misconduct (in
each case as finally determined by a court of competent jurisdiction), the Trustee shall not be liable for any loss, liability or expense
resulting from any error in the information or transmission of the funds. The parties agree that the Trustee shall have no duty to confirm
or verify the accuracy of such information and shall not be liable therefor.

 

(b) This Agreement shall be governed by and construed
and enforced in accordance with the laws of the State of New York, without giving effect to conflicts of law principles that would result
in the application of the substantive laws of another jurisdiction. This Agreement may be executed in several original or facsimile counterparts,
each one of which shall constitute an original, and together shall constitute but one instrument.

 

(c) This Agreement contains the entire agreement
and understanding of the parties hereto with respect to the subject matter hereof. Except for Sections 1(i) and 1(l) hereof (which
may not be modified, amended or deleted without the affirmative vote of sixty five percent (65%) of the then outstanding shares of Ordinary
Share, par value $0.001 per share, provided that no such amendment will affect any Public Stockholder who has otherwise indicated his
election to redeem his shares of Ordinary Share in connection with a stockholder vote sought to amend this Agreement), this Agreement
or any provision hereof may only be changed, amended or modified (other than to correct a typographical error) by a writing signed by
each of the parties hereto. As a condition precedent to the Trustee’s execution of any amendment or modification, the Company shall
deliver to the Trustee a certificate of an authorized officer which shall state that the amendment or modification is in accordance with
this Section 6(c).

 

(d) The parties hereto consent to the jurisdiction
and venue of any state or federal court located in the City of New York, State of New York, for purposes of resolving any disputes hereunder.
AS TO ANY CLAIM, CROSS-CLAIM OR COUNTERCLAIM IN ANY WAY RELATING TO THIS AGREEMENT, EACH PARTY WAIVES THE RIGHT TO TRIAL BY JURY.

 

(e) Any notice, consent or request to be given
in connection with any of the terms or provisions of this Agreement shall be in writing and shall be sent by express mail or similar private
courier service, by certified mail (return receipt requested), by hand delivery or by facsimile transmission:

 

if to the Trustee, to:

 

Computershare Trust Company, N.A.

6200 S. Quebec St.

Greenwood Village, CO 80111

Attn: Rose Stroud and/or Jay Ramos

Facsimile No. (303) 262-0608

Email: corporate.trust@computershare.com and

rose.stroud@computershare.com, jay.ramos@computershare.com

 

and

 

Computershare Trust Company, N.A.

480 Washington Boulevard

Jersey City, NJ 07310

Attention: General Counsel

Facsimile No.: (201) 680-4610

 

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if to the Company, to:

 

Forest Acquisition Corp

434 W. 33rd Street, Suite 700

New York, New York, 10001

Tel.: (646) 921-1721

Attn.: Chief Executive Officer

 

in each case, with copies to:

 

Becker & Poliakoff
LLP

45 Broadway, 17th
Floor

New York New York,
10017

Tel.: 212 599-3322

Attn.: Bill Huo, Esq.

		bhuo@beckerlawyers.com	

 

and

 

If to the Representative:

 

Ladenburg Thalmann &
Co. Inc.

640 Fifth Avenue, 4th
Floor

New York, NY 10019

Tel.: (212) 409 2119

Attn.: Jeffery
Caliva

		jcaliva@ladenburg.com	

 

in each case, with copies to:

 

Kramer Levin Naftalis &
Frankel LLP

1177 Avenue of Americas

New York, NY 10036

Tel.: (212) 715 9100

Attn.: Christopher
Auguste, Esq.

		cauguste@kramerlevin.com	

 

(f) Each of the Company and the Trustee hereby
represents that it has the full right and power and has been duly authorized to enter into this Agreement and to perform its respective
obligations as contemplated hereunder. The Trustee acknowledges and agrees that it shall not make any claims or proceed against the Trust
Account, including by way of set-off, and shall not be entitled to any funds in the Trust Account under any circumstance.

 

(g) Each of the Company and the Trustee hereby
acknowledges and agrees that Representative, on behalf of the Underwriters, is a third party beneficiaries of this Agreement.

 

(h) Except as specified herein, no party to this
Agreement may assign its rights or delegate its obligations hereunder to any other person or entity.

 

[Signature Page Follows]

 

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IN WITNESS WHEREOF, the parties have duly
executed this Investment Management Trust Agreement as of the date first written above.

 

	 	Computershare Trust Company, N.A., as Trustee
	 	 	 	 
	 	By:	 
	 	 	Name: 	Jaddiel Ramos
	 	 	Title:	Corporate Trust Officer
	 	 	 	 
	 	Forest Acquisition Corp
	 	 	 	 
	 	By:	 
	 	 	Name:	Ming Zhang
	 	 	Title:	Chief Executive Officer

 

[Signature Pages to Investment Management Trust
Agreement]

 

     

    

    

 

SCHEDULE A 

 

	Fee Item	 	Time and method of payment	 	Amount	 
	Initial set-up fee.	 	Initial closing of Offering by wire transfer.	 	$	3,500.00	 
	Trustee administration fee	 	Payable annually. First year fee payable, at initial closing of Offering by wire transfer, thereafter by wire transfer or check.	 	$	7,500.00	 
	Transaction processing fee for disbursements to Company under Sections 1(i), 1(j) and 1(k)	 	Billed to Company following disbursement made to Company under Section 1(i), 1(j) and 1(k)	 	$	100.00	 
	Paying Agent services as required pursuant to Section 1(i) and 1(l)	 	Billed to Company upon delivery of service pursuant to Section 1(i) and 1(l)	 	 	Prevailing

rates	 

 

     

    

    

 

EXHIBIT A 

 

[Letterhead of Company] 

 

[Insert date] 

 

Computershare Trust Company, N.A.

6200 S. Quebec St.

Greenwood Village, CO 80111

Attn: Rose Stroud and/or Jay Ramos

Facsimile No. (303) 262-0608

Email: corporate.trust@computershare.com and

rose.stroud@computershare.com, jay.ramos@computershare.com

 

Computershare Trust Company, N.A.

480 Washington Boulevard

Jersey City, NJ 07310

Attention: General Counsel

Facsimile No.: (201) 680-4610

 

Re: Trust Account No. Termination Letter

 

Dear [●]

 

Pursuant to Section 1(i) of the Investment
Management Trust Agreement between Forest Acquisition Corp (the “Company”) and Computershare Trust Company,
N.A. (the “Trustee”), dated as of [●], 2022 (the “Trust Agreement”), this is
to advise you that the Company has entered into an agreement with [●] (the “Target Business”) to consummate
a business combination with Target Business (the “Business Combination”) on or about [insert date]. The Company
shall notify you at least seventy-two (72) hours in advance of the actual date of the consummation of the Business Combination (the
“Consummation Date”). Capitalized terms used but not defined herein shall have the meanings set forth in the
Trust Agreement.

 

In
accordance with the terms of the Trust Agreement, we hereby authorize you to commence to liquidate all of the assets of the Trust Account
on [●], and to transfer the proceeds into a segregated account held by you on behalf of the beneficiaries to the effect that, on
the Consummation Date, all of funds held in the Trust Account will be immediately available for transfer to the account or accounts that
_____________ (the “Representative”) (with respect
to the Deferred Discount) and the Company shall direct on the Consummation Date. It is acknowledged and agreed that while the funds are
on deposit in the trust operating account awaiting distribution, the Company or the Representative will not earn any interest or dividends.

 

On the Consummation Date (i) counsel for
the Company shall deliver to you written notification that the Business Combination has been consummated, or will be consummated concurrently
with your transfer of funds to the accounts as directed by the Company (the “Notification”) and (ii) the
Company shall deliver to you (a) [an affidavit] [a certificate] of the Chief Executive Officer, which verifies that the Business Combination
has been approved by a vote of the Company’s stockholders, if a vote is held and (b) joint written instruction signed by the
Company and the Representative with respect to the transfer of the funds held in the Trust Account, including payment of the Deferred
Discount from the Trust Account (the “Instruction Letter”). You are hereby directed and authorized to transfer
the funds held in the Trust Account immediately upon your receipt of the Notification and the Instruction Letter, in accordance with the
terms of the Instruction Letter. In the event that certain deposits held in the Trust Account may not be liquidated by the Consummation
Date without penalty, you will notify the Company in writing of the same and the Company shall direct you as to whether such funds should
remain in the Trust Account and be distributed after the Consummation Date to the Company. Upon the distribution of all the funds, net
of any payments necessary for reasonable unreimbursed expenses related to liquidating the Trust Account, your obligations under the Trust
Agreement shall be terminated.

 

In the event that the Business Combination is
not consummated on the Consummation Date described in the notice thereof and we have not notified you on or before the original Consummation
Date of a new Consummation Date, then upon receipt by the Trustee of written instructions from the Company, the funds held in the Trust
Account shall be reinvested as provided in Section 1(c) of the Trust Agreement on the business day immediately following the Consummation
Date as set forth in the notice as soon thereafter as possible.

 

	 	Very truly yours,
	 	 
	 	Forest Acquisition Corp
	 	 	 
	 	By:	      
	 	 	Name:
	 	 	Title:

 

cc: [●]

[●]

 

     

    

    

 

EXHIBIT B 

 

[Letterhead of Company] 

 

[Insert date] 

 

Computershare Trust Company, N.A.

6200 S. Quebec St.

Greenwood Village, CO 80111

Attn: Rose Stroud and/or Jay Ramos

Facsimile No. (303) 262-0608

Email: corporate.trust@computershare.com and

rose.stroud@computershare.com, jay.ramos@computershare.com

 

Computershare Trust Company, N.A.

480 Washington Boulevard

Jersey City, NJ 07310

Attention: General Counsel

Facsimile No.: (201) 680-4610

 

Re: Trust Account No. [     ] Termination Letter

 

Dear [●]

 

Pursuant to Section 1(i) of the Investment
Management Trust Agreement between Forest Acquisition Corp (the “Company”) and Computershare Trust Company,
N.A. (the “Trustee”), dated as of [●], 2022 (the “Trust Agreement”), this is
to advise you that the Company has been unable to effect a business combination with a Target Business (the “Business Combination”)
within the time frame specified in the Company’s Amended and Restated Memorandum and Article of Association, as described in the
Company’s Prospectus relating to the Offering. Capitalized terms used but not defined herein shall have the meanings set forth in
the Trust Agreement.

 

In
accordance with the terms of the Trust Agreement, we hereby authorize you to liquidate all of the assets in the Trust Account on [●],
2022 and to transfer the total proceeds into the trust operating account at [Ÿ]
to await distribution to the Public Stockholders. The Company has selected [●]1
as the effective date for the purpose of determining when the Public Stockholders will be entitled to receive their share of the liquidation
proceeds. You agree to be the Paying Agent of record and, in your separate capacity as Paying Agent, agree to distribute said funds directly
to the Company’s Public Stockholders in accordance with the terms of the Trust Agreement and the Amended and Restated Memorandum
and Article of Association of the Company. Upon the distribution of all the funds, net of any payments necessary for reasonable unreimbursed
expenses related to liquidating the Trust Account, your obligations under the Trust Agreement shall be terminated, except to the extent
otherwise provided in Section 1(j) of the Trust Agreement. 

 

	 	Very truly yours,
	 	 
	 	Forest Acquisition Corp
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

	cc:	[●] 

[●]

 

 

	1 	21 months from the closing of the Offering, or at a later date, if extended. 

 

     

    

    

 

EXHIBIT C 

 

[Letterhead of Company] 

 

[Insert date] 

 

Computershare Trust Company, N.A.

6200 S. Quebec St.

Greenwood Village, CO 80111

Attn: Rose Stroud and/or Jay Ramos

Facsimile No. (303) 262-0608

Email: corporate.trust@computershare.com and

rose.stroud@computershare.com, jay.ramos@computershare.com

 

Computershare Trust Company, N.A.

480 Washington Boulevard

Jersey City, NJ 07310

Attention: General Counsel

Facsimile No.: (201) 680-4610

 

Re: Trust Account No. [     ] Tax Payment Withdrawal
Instruction

 

Dear [●]

 

Pursuant to Section 1(j) of the Investment
Management Trust Agreement between Forest Acquisition Corp (the “Company”) and Computershare Trust Company,
N.A. (the “Trustee”), dated as of [●], 2022 (the “Trust Agreement”), the Company
hereby requests that you deliver to the Company $ of the interest income earned on the Property as of the date hereof. Capitalized terms
used but not defined herein shall have the meanings set forth in the Trust Agreement.

 

The Company needs such funds to pay for the tax
obligations as set forth on the attached tax return or tax statement. In accordance with the terms of the Trust Agreement, you are hereby
directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter to the Company’s operating
account at:

 

[WIRE INSTRUCTION INFORMATION] 

 

	 	Very truly yours,
	 	 
	 	Forest Acquisition Corp
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

	cc:	[●] 

[●]

 

     

    

    

 

EXHIBIT D 

 

[Letterhead of Company] 

 

[Insert date] 

 

Computershare Trust Company, N.A.

6200 S. Quebec St.

Greenwood Village, CO 80111

Attn: Rose Stroud and/or Jay Ramos

Facsimile No. (303) 262-0608

Email: corporate.trust@computershare.com and

rose.stroud@computershare.com, jay.ramos@computershare.com

 

Computershare Trust Company, N.A.

480 Washington Boulevard

Jersey City, NJ 07310

Attention: General Counsel

Facsimile No.: (201) 680-4610

 

Re: Trust Account No. [     ] Stockholder Redemption
Withdrawal Instruction

 

Dear [●]

 

Pursuant to Section 1(l) of the Investment
Management Trust Agreement between Forest Acquisition Corp (the “Company”) and Computershare Trust Company,
N.A. (the “Trustee”), dated as of [●], 2022 (the “Trust Agreement”), the Company
hereby requests that you deliver to the redeeming Public Stockholders of the Company $ of the principal and interest income earned on
the Property as of the date hereof. Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement.

 

The Company needs such funds to pay its Public
Stockholders who have properly elected to have their shares of Common Stock redeemed by the Company in connection with a stockholder vote
to approve an amendment to the Company’s Amended and Restated Certificate of Incorporation that affects the substance or timing
of the Company’s obligation to redeem 100% of its public shares of Ordinary Share if the Company has not consummated an initial
Business Combination within such time as is described in the Company’s Amended and Restated Memorandum and Article of Association.
As such, you are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter to
the redeeming Public Stockholders in accordance with your customary procedures.

 

	 	Very truly yours,
	 	 
	 	Forest Acquisition Corp
	 	 	 
	 	By:	    
	 	 	Name:
	 	 	Title:

 

	cc:	[●] 

[●]Exhibit 10.3

 

FORM OF REGISTRATION RIGHTS AGREEMENT

 

THIS REGISTRATION RIGHTS AGREEMENT
(this “Agreement”) is entered into as of the ___ day of __________, 2022, by and among Forest Acquisition Corp,
a British Virgin Islands company (the “Company”), and the undersigned parties listed under Investors on the
signature page hereto (each, an “Investor” and collectively, the “Investors”).

 

WHEREAS, the Investors and
the Company desire to enter into this Agreement to provide the Investors with certain rights relating to the registration under the United
States’ federal securities laws and regulations of the securities held by them as of the date hereof.

 

NOW, THEREFORE, in consideration
of the mutual covenants and agreements set forth herein, and for other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto agree as follows:

 

1. DEFINITIONS.
The following capitalized terms used herein have the following meanings:

 

“Agreement”
means this Agreement, as amended, restated, supplemented, or otherwise modified from time to time.

 

“Business Combination”
means the acquisition of direct or indirect ownership through a merger, stock exchange, asset acquisition, stock purchase, recapitalization,
reorganization or other similar type of transaction, of one or more businesses or entities.

 

“Commission”
means the Securities and Exchange Commission, or any other Federal agency then administering the Securities Act or the Exchange Act.

 

“Company”
is defined in the preamble to this Agreement.

 

“Demand Registration”
is defined in Section 2.1.1.

 

“Demanding Holder”
is defined in Section 2.1.1.

 

“Exchange Act”
means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder, all as
the same shall be in effect at the time.

 

“Form S-3”
is defined in Section 2.3.

 

“Founder Shares”
means the 1,897,500 Ordinary Shares of the Company issued to Bit Mining Management Corp. prior to the Company’s initial public
offering.

 

“Indemnified Party”
is defined in Section 4.3.

 

“Indemnifying
Party” is defined in Section 4.3.

  

“Investor”
is defined in the preamble to this Agreement.

 

“Investor Indemnified
Party” is defined in Section 4.1.

 

“Maximum Number
of Shares” is defined in Section 2.1.4.

 

“Notices”
is defined in Section 6.3.

 

“Ordinary Shares”
means the ordinary shares of the Company, no par value.

 

     

    

    

 

“Piggy-Back Registration”
is defined in Section 2.2.1. 

 

“Private Units”
means the [330,000] private units sold and issued to Bit Mining Management Corp. (or its designees or affiliates) as of the date hereof
which Bit Mining Management Corp. (or its designees) are privately purchasing under an exemption from registration under the Securities
Act simultaneously with the consummation of the Company’s initial public offering, as further described in the Registration Statement.

 

“Pro Rata”
is defined in Section 2.1.4.

 

“Register,”
“Registered” and “Registration” mean a registration effected by preparing and filing
a registration statement or similar document in compliance with the requirements of the Securities Act, and the applicable rules and regulations
promulgated thereunder, and such registration statement becoming effective.

 

“Registrable Securities”
means: (i) the Founder Shares: (ii) the Private Units; (iii) the Ordinary Shares underlying the Private Units and the components thereof;
(iv) any securities issuable upon conversion of loans from Investors (or their designees or affiliates) to the Company for the Company’s
use as working capital, if any (the “Working Capital Loan Securities”). Registrable Securities include any warrants,
shares of capital stock or other securities of the Company issued as a dividend or other distribution with respect to or in exchange for
or in replacement of such Founder Shares, Private Units and Working Capital Loan Securities (and underlying securities). As to any particular
Registrable Securities, such securities shall cease to be Registrable Securities when: (a) a Registration Statement with respect to the
sale of such securities shall have become effective under the Securities Act and such securities shall have been sold, transferred, disposed
of or exchanged in accordance with such Registration Statement; (b) such securities shall have been otherwise transferred, new certificates
for them not bearing a legend restricting further transfer shall have been delivered by the Company, and subsequent public distribution
of them shall not require registration under the Securities Act; (c) such securities shall have ceased to be outstanding, or (d) the Registrable
Securities are freely saleable under Rule 144 under the Securities Act without volume limitations.

 

“Registration
Statement” means a registration statement filed by the Company with the Commission in compliance with the Securities Act
and the rules and regulations promulgated thereunder for a public offering and sale of equity securities, or securities or other obligations
exercisable or exchangeable for, or convertible into, equity securities (other than a registration statement on Form S-4 or Form S-8,
or their successors, or any registration statement covering only securities proposed to be issued in exchange for securities or assets
of another entity).

 

“Release Date”
means the date on which the Founder Shares are disbursed from escrow pursuant to Section 3 of that certain Stock Escrow Agreement dated
as of ______ 2022 by and among the holders of Founder Shares and Computershare Inc..

 

“Rights”
means the rights to purchase 1/10th of an Ordinary Share.

 

“Securities Act”
means the Securities Act of 1933, as amended, and the rules and regulations of the Commission promulgated thereunder, all as the same
shall be in effect at the time.

 

“Underwriter”
means a securities dealer who purchases any Registrable Securities as principal in an underwritten offering and not as part of such dealer’s
market-making activities.

 

“Units”
means the units of the Company as described in the Registration Statement, each comprised of (i) one Ordinary Share, (ii) one Warrant
to purchase one-half of an Ordinary Share and (iii) a Right to purchase 1/10th of an Ordinary Share.

 

“Warrants”
means the warrants of the Company being offered and sold under the Registration Statement entitling the holder to purchase one-half of
an Ordinary Share.

 

    2

    

    

 

2. REGISTRATION RIGHTS.

 

2.1 Demand Registration.

 

2.1.1 Request for
Registration. At any time and from time to time on or after (i) the date that the Company consummates a Business Combination with
respect to the Founder Shares, Private Warrants and Working Capital Loan Securities (or underlying securities) or (ii) three months prior
to the Release Date with respect to all other Registrable Securities, the holders of a majority-in-interest of such Founder Shares, Private
Warrants and Working Capital Loan Securities (or underlying securities), or other Registrable Securities, as the case may be, the Investors,
officers or directors of the Company or their affiliates, or the transferees of the Investors, may make a written demand for registration
under the Securities Act of all or part of their Founder Shares and Private Warrants or Working Capital Loan Securities (or underlying
securities or other Registrable Securities, as the case may be (a “Demand Registration”). Any demand for a Demand
Registration shall specify the number of shares of Registrable Securities proposed to be sold and the intended method(s) of distribution
thereof. The Company will notify all holders of Registrable Securities of the demand, and each holder of Registrable Securities who wishes
to include all or a portion of such holder’s Registrable Securities in the Demand Registration (each such holder including shares
of Registrable Securities in such registration, a “Demanding Holder”) shall so notify the Company within fifteen
(15) days after the receipt by the holder of the notice from the Company. Upon any such request, the Demanding Holders shall be entitled
to have their Registrable Securities included in the Demand Registration, subject to Section 2.1.4 and the provisos set forth in Section
3.1.1. The Company shall not be obligated to effect more than an aggregate of three (3) Demand Registrations under this Section 2.1.1
in respect of all Registrable Securities.

 

2.1.2 Effective Registration.
A registration will not count as a Demand Registration until the Registration Statement filed with the Commission with respect to such
Demand Registration has been declared effective and the Company has complied with all of its obligations under this Agreement with respect
thereto; provided, however, that if, after such Registration Statement has been declared effective, the offering of Registrable Securities
pursuant to a Demand Registration is interfered with by any stop order or injunction of the Commission or any other governmental agency
or court, the Registration Statement with respect to such Demand Registration will be deemed not to have been declared effective, unless
and until, (i) such stop order or injunction is removed, rescinded or otherwise terminated, and (ii) a majority-in-interest of the Demanding
Holders thereafter elect to continue the offering; provided, further, that the Company shall not be obligated to file a second Registration
Statement until a Registration Statement that has been filed is counted as a Demand Registration or is terminated. 

 

2.1.3 Underwritten
Offering. If a majority-in-interest of the Demanding Holders so elect and such holders so advise the Company as part of their written
demand for a Demand Registration, the offering of such Registrable Securities pursuant to such Demand Registration shall be in the form
of an underwritten offering. In such event, the right of any holder to include its Registrable Securities in such registration shall be
conditioned upon such holder’s participation in such underwriting and the inclusion of such holder’s Registrable Securities
in the underwriting to the extent provided herein. All Demanding Holders proposing to distribute their Registrable Securities through
such underwriting shall enter into an underwriting agreement in customary form with the Underwriter or Underwriters selected for such
underwriting by a majority-in-interest of the holders initiating the Demand Registration.

 

2.1.4 Reduction of
Offering. If the managing Underwriter or Underwriters for a Demand Registration that is to be an underwritten offering advises the
Company and the Demanding Holders in writing that the dollar amount or number of shares of Registrable Securities which the Demanding
Holders desire to sell, taken together with all other Ordinary Shares or other securities which the Company desires to sell and the Ordinary
Shares, if any, as to which registration has been requested pursuant to written contractual piggy-back registration rights held by other
stockholders of the Company who desire to sell, exceeds the maximum dollar amount or maximum number of shares that can be sold in such
offering without adversely affecting the proposed offering price, the timing, the distribution method, or the probability of success of
such offering (such maximum dollar amount or maximum number of shares, as applicable, the “Maximum Number of Shares”),
then the Company shall include in such registration: (i) first, the Registrable Securities as to which Demand Registration has been requested
by the Demanding Holders (pro rata in accordance with the number of shares that each such Person has requested be included in such registration,
regardless of the number of shares held by each such Person (such proportion is referred to herein as “Pro Rata”))
that can be sold without exceeding the Maximum Number of Shares; (ii) second, to the extent that the Maximum Number of Shares has not
been reached under the foregoing clause (i), the Ordinary Shares or other securities that the Company desires to sell that can be sold
without exceeding the Maximum Number of Shares; (iii) third, to the extent that the Maximum Number of Shares has not been reached under
the foregoing clauses (i) and (ii), the Ordinary Shares or other securities for the account of other persons that the Company is obligated
to register pursuant to written contractual arrangements with such persons and that can be sold without exceeding the Maximum Number of
Shares.

 

    3

    

    

 

2.1.5 Withdrawal.
If a majority-in-interest of the Demanding Holders disapprove of the terms of any underwriting or are not entitled to include all of their
Registrable Securities in any offering, such majority-in-interest of the Demanding Holders may elect to withdraw from such offering by
giving written notice to the Company and the Underwriter or Underwriters of their request to withdraw prior to the effectiveness of the
Registration Statement filed with the Commission with respect to such Demand Registration. If the majority-in-interest of the Demanding
Holders withdraws from a proposed offering relating to a Demand Registration, then such registration shall not count as a Demand Registration
provided for in Section 2.1. 

 

2.2 Piggy-Back Registration.

 

2.2.1 Piggy-Back
Rights. If at any time on or after the date the Company consummates a Business Combination the Company proposes to file a Registration
Statement under the Securities Act with respect to an offering of equity securities, or securities or other obligations exercisable or
exchangeable for, or convertible into, equity securities, by the Company for its own account or for shareholders of the Company for their
account (or by the Company and by shareholders of the Company including, without limitation, pursuant to Section 2.1), other than a Registration
Statement (i) filed in connection with any employee stock option or other benefit plan, (ii) for an exchange offer or offering of securities
solely to the Company’s existing shareholders, (iii) for an offering of debt that is convertible into equity securities of the Company
or (iv) for a dividend reinvestment plan, then the Company shall (x) give written notice of such proposed filing to the holders of Registrable
Securities as soon as practicable but in no event less than ten (10) days before the anticipated filing date, which notice shall describe
the amount and type of securities to be included in such offering, the intended method(s) of distribution, and the name of the proposed
managing Underwriter or Underwriters, if any, of the offering, and (y) offer to the holders of Registrable Securities in such notice the
opportunity to register the sale of such number of shares of Registrable Securities as such holders may request in writing within five
(5) days following receipt of such notice (a “Piggy-Back Registration”). The Company shall cause such Registrable
Securities to be included in such registration and shall use its best efforts to cause the managing Underwriter or Underwriters of a proposed
underwritten offering to permit the Registrable Securities requested to be included in a Piggy-Back Registration on the same terms and
conditions as any similar securities of the Company and to permit the sale or other disposition of such Registrable Securities in accordance
with the intended method(s) of distribution thereof. All holders of Registrable Securities proposing to distribute their securities through
a Piggy-Back Registration that involves an Underwriter or Underwriters shall enter into an underwriting agreement in customary form with
the Underwriter or Underwriters selected for such Piggy-Back Registration.

 

2.2.2 Reduction of
Offering. If the managing Underwriter or Underwriters for a Piggy-Back Registration that is to be an underwritten offering advises
the Company and the holders of Registrable Securities in writing that the dollar amount or number of Ordinary Shares which the Company
desires to sell, taken together with Ordinary Shares, if any, as to which registration has been demanded pursuant to separate written
contractual arrangements with persons or entities other than the holders of Registrable Securities hereunder, the Registrable Securities
as to which registration has been requested under this Section 2.2, and the Ordinary Shares, if any, as to which registration has been
requested pursuant to the written contractual piggy-back registration rights of other stockholders of the Company, exceeds the Maximum
Number of Shares, then the Company shall include in any such registration:

 

a) If the registration is undertaken
for the Company’s account: (A) the Ordinary Shares or other securities that the Company desires to sell that can be sold without
exceeding the Maximum Number of Shares; (B) to the extent that the Maximum Number of Shares has not been reached under the foregoing clause
(A), the Ordinary Shares or other securities, if any, comprised of Registrable Securities, as to which registration has been requested
pursuant to the applicable written contractual piggy-back registration rights of such security holders, Pro Rata, which can be sold without
exceeding the Maximum Number of Shares; and (C) to the extent that the Maximum Number of Shares has not been reached under the foregoing
clauses (A) and (B), the Ordinary Shares or other securities for the account of other persons that the Company is obligated to register
pursuant to written contractual piggy-back registration rights with such persons and that can be sold without exceeding the Maximum Number
of Shares; and

 

    4

    

    

 

b) If the registration is a “demand”
registration undertaken at the demand of persons other than either the holders of Registrable Securities, (A) first, the Ordinary Shares
or other securities for the account of the demanding persons that can be sold without exceeding the Maximum Number of Shares; (B) second,
to the extent that the Maximum Number of Shares has not been reached under the foregoing clause (A), the Ordinary Shares or other securities
that the Company desires to sell which can be sold without exceeding the Maximum Number of Shares; (C) third, to the extent that the Maximum
Number of Shares has not been reached under the foregoing clauses (A) and (B), collectively, the Ordinary Shares or other securities comprised
of Registrable Securities, Pro Rata, as to which registration has been requested pursuant to the terms hereof, which can be sold without
exceeding the Maximum Number of Shares; and (D) fourth, to the extent that the Maximum Number of Shares has not been reached under the
foregoing clauses (A), (B) and (C), the Ordinary Shares or other securities for the account of other persons that the Company is obligated
to register pursuant to written contractual arrangements with such persons, that can be sold without exceeding the Maximum Number of Shares.

 

2.2.3 Withdrawal.
Any holder of Registrable Securities may elect to withdraw such holder’s request for inclusion of Registrable Securities in any
Piggy-Back Registration by giving written notice to the Company of such request to withdraw prior to the effectiveness of the Registration
Statement. The Company (whether on its own determination or as the result of a withdrawal by persons making a demand pursuant to written
contractual obligations) may withdraw a Registration Statement at any time prior to the effectiveness of such Registration Statement.
Notwithstanding any such withdrawal, the Company shall pay all expenses incurred by the holders of Registrable Securities in connection
with such Piggy-Back Registration as provided in Section 3.3. 

 

2.3 Registrations
on Form S-3. The holders of Registrable Securities may at any time and from time to time request in writing that the Company register
the resale of any or all of such Registrable Securities on Form S-3 or any similar short-form registration which may be available at such
time (“Form S-3”); provided, however, that the Company shall not be obligated to effect such request through
an underwritten offering. Upon receipt of such written request, the Company will promptly give written notice of the proposed registration
to all other holders of Registrable Securities, and, as soon as practicable thereafter, effect the registration of all or such portion
of such holder’s or holders’ Registrable Securities as are specified in such request, together with all or such portion of
the Registrable Securities or other securities of the Company, if any, of any other holder or holders joining in such request as are specified
in a written request given within fifteen (15) days after receipt of such written notice from the Company; provided, however, that the
Company shall not be obligated to effect any such registration pursuant to this Section 2.3: (i) if Form S-3 is not available for such
offering; or (ii) if the holders of the Registrable Securities, together with the holders of any other securities of the Company entitled
to inclusion in such registration, propose to sell Registrable Securities and such other securities (if any) at any aggregate price to
the public of less than $500,000. Registrations effected pursuant to this Section 2.3 shall not be counted as Demand Registrations effected
pursuant to Section 2.1.

 

3. REGISTRATION PROCEDURES.

 

3.1 Filings; Information.
Whenever the Company is required to effect the registration of any Registrable Securities pursuant to Section 2, the Company shall use
its best efforts to effect the registration and sale of such Registrable Securities in accordance with the intended method(s) of distribution
thereof as expeditiously as practicable, and in connection with any such request:

 

3.1.1 Filing Registration
Statement. The Company shall use its best efforts to, as expeditiously as possible after receipt of a request for a Demand Registration
pursuant to Section 2.1, prepare and file with the Commission a Registration Statement on any form for which the Company then qualifies
or which counsel for the Company shall deem appropriate and which form shall be available for the sale of all Registrable Securities to
be registered thereunder in accordance with the intended method(s) of distribution thereof, and shall use its best efforts to cause such
Registration Statement to become effective and use its best efforts to keep it effective for the period required by Section 3.1.3; provided,
however, that the Company shall have the right to defer any Demand Registration for up to thirty (30) days, and any Piggy-Back Registration
for such period as may be applicable to deferment of any demand registration to which such Piggy-Back Registration relates, in each case
if the Company shall furnish to the holders a certificate signed by the President or Chairman of the Company stating that, in the good
faith judgment of the Board of Directors of the Company, it would be materially detrimental to the Company for such Registration Statement
to be effected at such time; provided further, however, that the Company shall not have the right to exercise the right set forth in the
immediately preceding proviso more than once in any 365-day period in respect of a Demand Registration hereunder.

 

    5

    

    

 

3.1.2 Copies.
The Company shall, prior to filing a Registration Statement or prospectus, or any amendment or supplement thereto, furnish without charge
to the holders of Registrable Securities included in such registration, and such holders’ legal counsel, copies of such Registration
Statement as proposed to be filed, each amendment and supplement to such Registration Statement (in each case including all exhibits thereto
and documents incorporated by reference therein), the prospectus included in such Registration Statement (including each preliminary prospectus),
and such other documents as the holders of Registrable Securities included in such registration or legal counsel for any such holders
may request in order to facilitate the disposition of the Registrable Securities owned by such holders.

 

3.1.3 Amendments
and Supplements. The Company shall prepare and file with the Commission such amendments, including post-effective amendments, and
supplements to such Registration Statement and the prospectus used in connection therewith as may be necessary to keep such Registration
Statement effective and in compliance with the provisions of the Securities Act until all Registrable Securities and other securities
covered by such Registration Statement have been disposed of in accordance with the intended method(s) of distribution set forth in such
Registration Statement or such securities have been withdrawn.

 

3.1.4 Notification.
After the filing of a Registration Statement, the Company shall promptly, and in no event more than two (2) business days after such filing,
notify the holders of Registrable Securities included in such Registration Statement of such filing, and shall further notify such holders
promptly and confirm such advice in writing in all events within two (2) business days of the occurrence of any of the following: (i)
when such Registration Statement becomes effective; (ii) when any post-effective amendment to such Registration Statement becomes effective;
(iii) the issuance or threatened issuance by the Commission of any stop order (and the Company shall take all actions required to prevent
the entry of such stop order or to remove it if entered); and (iv) any request by the Commission for any amendment or supplement to such
Registration Statement or any prospectus relating thereto or for additional information or of the occurrence of an event requiring the
preparation of a supplement or amendment to such prospectus so that, as thereafter delivered to the purchasers of the securities covered
by such Registration Statement, such prospectus will not contain an untrue statement of a material fact or omit to state any material
fact required to be stated therein or necessary to make the statements therein not misleading, and promptly make available to the holders
of Registrable Securities included in such Registration Statement any such supplement or amendment; except that before filing with the
Commission a Registration Statement or prospectus or any amendment or supplement thereto, including documents incorporated by reference,
the Company shall furnish to the holders of Registrable Securities included in such Registration Statement and to the legal counsel for
any such holders, copies of all such documents proposed to be filed sufficiently in advance of filing to provide such holders and legal
counsel with a reasonable opportunity to review such documents and comment thereon, and the Company shall not file any Registration Statement
or prospectus or amendment or supplement thereto, including documents incorporated by reference, to which such holders or their legal
counsel shall object.

 

3.1.5 State Securities
Laws Compliance. The Company shall use its best efforts to (i) register or qualify the Registrable Securities covered by the Registration
Statement under such securities or “blue sky” laws of such jurisdictions in the United States as the holders of Registrable
Securities included in such Registration Statement (in light of their intended plan of distribution) may request and (ii) take such action
necessary to cause such Registrable Securities covered by the Registration Statement to be registered with or approved by such other governmental
authorities as may be necessary by virtue of the business and operations of the Company and do any and all other acts and things that
may be necessary or advisable to enable the holders of Registrable Securities included in such Registration Statement to consummate the
disposition of such Registrable Securities in such jurisdictions; provided, however, that the Company shall not be required to qualify
generally to do business in any jurisdiction where it would not otherwise be required to qualify but for this paragraph or subject itself
to taxation in any such jurisdiction. 

 

    6

    

    

 

3.1.6 Agreements
for Disposition. The Company shall enter into customary agreements (including, if applicable, an underwriting agreement in customary
form) and take such other actions as are reasonably required in order to expedite or facilitate the disposition of such Registrable Securities.
The representations, warranties and covenants of the Company in any underwriting agreement which are made to or for the benefit of any
Underwriters, to the extent applicable, shall also be made to and for the benefit of the holders of Registrable Securities included in
such registration statement. No holder of Registrable Securities included in such registration statement shall be required to make any
representations or warranties in the underwriting agreement except, if applicable, with respect to such holder’s organization, good
standing, authority, title to Registrable Securities, lack of conflict of such sale with such holder’s material agreements and organizational
documents, and with respect to written information relating to such holder that such holder has furnished in writing expressly for inclusion
in such Registration Statement.

  

3.1.7 Cooperation.
The principal executive officer of the Company, the principal financial officer of the Company, the principal accounting officer of the
Company and all other officers and members of the management of the Company shall cooperate fully in any offering of Registrable Securities
hereunder, which cooperation shall include, without limitation, the preparation of the Registration Statement with respect to such offering
and all other offering materials and related documents, and participation in meetings with Underwriters, attorneys, accountants and potential
investors.

 

3.1.8 Records.
The Company shall make available for inspection by the holders of Registrable Securities included in such Registration Statement, any
Underwriter participating in any disposition pursuant to such registration statement and any attorney, accountant or other professional
retained by any holder of Registrable Securities included in such Registration Statement or any Underwriter, all financial and other records,
pertinent corporate documents and properties of the Company, as shall be necessary to enable them to exercise their due diligence responsibility,
and cause the Company’s officers, directors and employees to supply all information requested by any of them in connection with
such Registration Statement.

 

3.1.9 Opinions and
Comfort Letters. The Company shall furnish to each holder of Registrable Securities included in any Registration Statement a signed
counterpart, addressed to such holder, of (i) any opinion of counsel to the Company delivered to any Underwriter and (ii) any comfort
letter from the Company’s independent public accountants delivered to any Underwriter. In the event no legal opinion is delivered
to any Underwriter, the Company shall furnish to each holder of Registrable Securities included in such Registration Statement, at any
time that such holder elects to use a prospectus, an opinion of counsel to the Company to the effect that the Registration Statement containing
such prospectus has been declared effective and that no stop order is in effect.

 

3.1.10 Earnings Statement.
The Company shall comply with all applicable rules and regulations of the Commission and the Securities Act, and make available to its
shareholders, as soon as practicable, an earnings statement covering a period of twelve (12) months, which earnings statement shall satisfy
the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder. 

 

3.1.11 Listing.
The Company shall use its best efforts to cause all Registrable Securities included in any registration to be listed on such exchanges
or otherwise designated for trading in the same manner as similar securities issued by the Company are then listed or designated or, if
no such similar securities are then listed or designated, in a manner satisfactory to the holders of a majority of the Registrable Securities
included in such registration.

 

    7

    

    

 

3.1.12 Road Show.
If the registration involves the registration of Registrable Securities in an Underwritten Offering under Section 2.1.3 above involving
gross proceeds in excess of $15,000,000, the Company shall use its reasonable efforts to make available senior executives of the Company
to participate in customary “road show” presentations that may be reasonably requested by the Underwriter in any underwritten
offering.

 

3.2 Obligation to
Suspend Distribution. Upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3.1.4(iv),
or, in the case of a resale registration on Form S-3 pursuant to Section 2.3 hereof, upon any suspension by the Company, pursuant to a
written insider trading compliance program adopted by the Company’s Board of Directors, of the ability of all “insiders”
covered by such program to transact in the Company’s securities because of the existence of material non-public information, each
holder of Registrable Securities included in any registration shall immediately discontinue disposition of such Registrable Securities
pursuant to the Registration Statement covering such Registrable Securities until such holder receives the supplemented or amended prospectus
contemplated by Section 3.1.4(iv) or the restriction on the ability of “insiders” to transact in the Company’s securities
is removed, as applicable, and, if so directed by the Company, each such holder will deliver to the Company all written copies, other
than permanent file copies then in such holder’s possession, of the most recent prospectus covering such Registrable Securities
at the time of receipt of such notice.

 

3.3 Registration Expenses.
The Company shall bear all costs and expenses incurred in connection with any Demand Registration pursuant to Section 2.1, any Piggy-Back
Registration pursuant to Section 2.2, and any registration on Form S-3 effected pursuant to Section 2.3, and all expenses incurred in
performing or complying with its other obligations under this Agreement, whether or not the Registration Statement becomes effective,
including, without limitation: (i) all registration and filing fees; (ii) fees and expenses of compliance with securities or “blue
sky” laws (including fees and disbursements of counsel in connection with blue sky qualifications of the Registrable Securities);
(iii) printing expenses; (iv) the Company’s internal expenses (including, without limitation, all salaries and expenses of its officers
and employees); (v) the fees and expenses incurred in connection with the listing of the Registrable Securities as required by Section
3.1.11; (vi) Financial Industry Regulatory Authority fees; (vii) fees and disbursements of counsel for the Company and fees and expenses
for independent certified public accountants retained by the Company (including the expenses or costs associated with the delivery of
any opinions or comfort letters requested pursuant to Section 3.1.9); (viii) the fees and expenses of any special experts retained by
the Company in connection with such registration; and (ix) the fees and expenses of one legal counsel selected by the holders of a majority-in-interest
of the Registrable Securities included in such registration. The Company shall have no obligation to pay any underwriting discounts or
selling commissions attributable to the Registrable Securities being sold by the holders thereof, which underwriting discounts or selling
commissions shall be borne by such holders. Additionally, in an underwritten offering, all selling shareholders and the Company shall
bear the expenses of the Underwriter pro rata in proportion to the respective amount of shares each is selling in such offering. 

 

3.4 Information.
The holders of Registrable Securities shall provide such information as may reasonably be requested by the Company, or the managing Underwriter,
if any, in connection with the preparation of any Registration Statement, including amendments and supplements thereto, in order to effect
the registration of any Registrable Securities under the Securities Act pursuant to Section 2 and in connection with the Company’s
obligation to comply with federal and applicable state securities laws. Additionally, each holder of Registrable Securities confirms and
agrees to comply with any and all properties and all prospectus delivery requirements under the Securities Act and rules and regulations
of the Commission thereunder.

 

    8

    

    

 

4. INDEMNIFICATION
AND CONTRIBUTION.

 

4.1 Indemnification
by the Company. The Company agrees to indemnify and hold harmless each Investor and each other holder of Registrable Securities, and
each of their respective officers, employees, affiliates, directors, partners, members, attorneys and agents, and each person, if any,
who controls an Investor and each other holder of Registrable Securities (within the meaning of Section 15 of the Securities Act or Section
20 of the Exchange Act) (each, an “Investor Indemnified Party”), from and against any expenses, losses, judgments,
claims, damages or liabilities, whether joint or several, arising out of or based upon any untrue statement (or allegedly untrue statement)
of a material fact contained in any Registration Statement under which the sale of such Registrable Securities was registered under the
Securities Act, any preliminary prospectus, final prospectus or summary prospectus contained in the Registration Statement, or any amendment
or supplement to such Registration Statement, or arising out of or based upon any omission (or alleged omission) to state a material fact
required to be stated therein or necessary to make the statements therein not misleading, or any violation by the Company of the Securities
Act or any rule or regulation promulgated thereunder applicable to the Company and relating to action or inaction required of the Company
in connection with any such registration; and the Company shall promptly reimburse the Investor Indemnified Party for any legal and any
other expenses reasonably incurred by such Investor Indemnified Party in connection with investigating and defending any such expense,
loss, judgment, claim, damage, liability or action whether or not any such person is a party to any such claim or action and including
any and all legal and other expenses incurred in giving testimony or furnishing documents in response to a subpoena or otherwise; provided,
however, that the Company will not be liable in any such case to the extent that any such expense, loss, claim, damage or liability arises
out of or is based upon any untrue statement or allegedly untrue statement or omission or alleged omission made in such Registration Statement,
preliminary prospectus, final prospectus, or summary prospectus, or any such amendment or supplement, in reliance upon and in conformity
with information furnished to the Company, in writing, by such selling holder expressly for use therein. The Company also shall indemnify
any Underwriter of the Registrable Securities, their officers, affiliates, directors, partners, members and agents and each person who
controls such Underwriter on substantially the same basis as that of the indemnification provided above in this Section 4.1. 

  

4.2 Indemnification
by Holders of Registrable Securities. Subject to the limitations set forth in Section 4.4.3 hereof, each selling holder of Registrable
Securities will, in the event that any registration is being effected under the Securities Act pursuant to this Agreement of any Registrable
Securities held by such selling holder, indemnify and hold harmless the Company, each of its directors and officers and each Underwriter
(if any), and each other selling holder and each other person, if any, who controls another selling holder or such Underwriter within
the meaning of the Securities Act, against any losses, claims, judgments, damages or liabilities, whether joint or several, insofar as
such losses, claims, judgments, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement
or allegedly untrue statement of a material fact contained in any Registration Statement under which the sale of such Registrable Securities
was registered under the Securities Act, any preliminary prospectus, final prospectus or summary prospectus contained in the Registration
Statement, or any amendment or supplement to the Registration Statement, or arise out of or are based upon any omission or the alleged
omission to state a material fact required to be stated therein or necessary to make the statement therein not misleading, if the statement
or omission was made in reliance upon and in conformity with information furnished in writing to the Company by such selling holder expressly
for use therein, and shall reimburse the Company, its directors and officers, and each other selling holder or controlling person for
any legal or other expenses reasonably incurred by any of them in connection with investigation or defending any such loss, claim, damage,
liability or action. Each selling holder’s indemnification obligations hereunder shall be several and not joint and shall be limited
to the amount of any net proceeds actually received by such selling holder.

 

    9

    

    

 

4.3 Conduct of Indemnification
Proceedings. Promptly after receipt by any person of any notice of any loss, claim, damage or liability or any action in respect of
which indemnity may be sought pursuant to Section 4.1 or 4.2, such person (the “Indemnified Party”) shall, if
a claim in respect thereof is to be made against any other person for indemnification hereunder, notify such other person (the “Indemnifying
Party”) in writing of the loss, claim, judgment, damage, liability or action; provided, however, that the failure by the
Indemnified Party to notify the Indemnifying Party shall not relieve the Indemnifying Party from any liability which the Indemnifying
Party may have to such Indemnified Party hereunder, except and solely to the extent the Indemnifying Party is actually prejudiced by such
failure. If the Indemnified Party is seeking indemnification with respect to any claim or action brought against the Indemnified Party,
then the Indemnifying Party shall be entitled to participate in such claim or action, and, to the extent that it wishes, jointly with
all other Indemnifying Parties, to assume control of the defense thereof with counsel satisfactory to the Indemnified Party. After notice
from the Indemnifying Party to the Indemnified Party of its election to assume control of the defense of such claim or action, the Indemnifying
Party shall not be liable to the Indemnified Party for any legal or other expenses subsequently incurred by the Indemnified Party in connection
with the defense thereof other than reasonable costs of investigation; provided, however, that in any action in which both the Indemnified
Party and the Indemnifying Party are named as defendants, the Indemnified Party shall have the right to employ separate counsel (but no
more than one such separate counsel) to represent the Indemnified Party and its controlling persons who may be subject to liability arising
out of any claim in respect of which indemnity may be sought by the Indemnified Party against the Indemnifying Party, with the fees and
expenses of such counsel to be paid by such Indemnifying Party if, based upon the written advice of counsel of such Indemnified Party,
representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them.
No Indemnifying Party shall, without the prior written consent of the Indemnified Party, consent to entry of judgment or effect any settlement
of any claim or pending or threatened proceeding in respect of which the Indemnified Party is or could have been a party and indemnity
could have been sought hereunder by such Indemnified Party, unless such judgment or settlement includes an unconditional release of such
Indemnified Party from all liability arising out of such claim or proceeding. 

 

4.4 Contribution.

 

4.4.1 If the indemnification
provided for in the foregoing Sections 4.1, 4.2 and 4.3 is unavailable to any Indemnified Party in respect of any loss, claim, damage,
liability or action referred to herein, then each such Indemnifying Party, in lieu of indemnifying such Indemnified Party, shall contribute
to the amount paid or payable by such Indemnified Party as a result of such loss, claim, damage, liability or action in such proportion
as is appropriate to reflect the relative fault of the Indemnified Parties and the Indemnifying Parties in connection with the actions
or omissions which resulted in such loss, claim, damage, liability or action, as well as any other relevant equitable considerations.
The relative fault of any Indemnified Party and any Indemnifying Party shall be determined by reference to, among other things, whether
the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information
supplied by such Indemnified Party or such Indemnifying Party and the parties’ relative intent, knowledge, access to information
and opportunity to correct or prevent such statement or omission.

  

4.4.2 The parties hereto
agree that it would not be just and equitable if contribution pursuant to this Section 4.4 were determined by pro rata allocation or by
any other method of allocation which does not take account of the equitable considerations referred to in the immediately preceding Section
4.4.1.

 

4.4.3 The amount paid or
payable by an Indemnified Party as a result of any loss, claim, damage, liability or action referred to in the immediately preceding paragraph
shall be deemed to include, subject to the limitations set forth above, any legal or other expenses incurred by such Indemnified Party
in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 4.4, no holder
of Registrable Securities shall be required to contribute any amount in excess of the dollar amount of the net proceeds (after payment
of any underwriting fees, discounts, commissions or taxes) actually received by such holder from the sale of Registrable Securities which
gave rise to such contribution obligation. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act) with respect to any action shall be entitled to contribution in such action from any person who was not guilty of such
fraudulent misrepresentation.

 

    10

    

    

 

5. UNDERWRITING AND
DISTRIBUTION.

 

5.1 Rule 144.
The Company covenants that it shall file any reports required to be filed by it under the Securities Act and the Exchange Act and shall
take such further action as the holders of Registrable Securities may reasonably request, all to the extent required from time to time
to enable such holders to sell Registrable Securities without registration under the Securities Act within the limitation of the exemptions
provided by Rule 144 under the Securities Act, as such Rule may be amended from time to time, or any similar rule or regulation hereafter
adopted by the Commission. 

 

6. MISCELLANEOUS.

 

6.1 Other Registration
Rights. The Company represents and warrants that no person, other than the holders of the Registrable Securities, has any right to
require the Company to register any shares of the Company’s capital stock for sale or to include shares of the Company’s capital
stock in any registration filed by the Company for the sale of shares of capital stock for its own account or for the account of any other
person.

 

6.2 Assignment; No
Third Party Beneficiaries. This Agreement and the rights, duties and obligations of the Company hereunder may not be assigned or delegated
by the Company in whole or in part. This Agreement and the rights, duties and obligations of the holders of Registrable Securities hereunder
may be freely assigned or delegated by such holder of Registrable Securities in conjunction with and to the extent of any transfer of
Registrable Securities by any such holder. This Agreement and the provisions hereof shall be binding upon and shall inure to the benefit
of each of the parties, to the permitted assigns of the Investors or holder of Registrable Securities or of any assignee of the Investors
or holder of Registrable Securities. This Agreement is not intended to confer any rights or benefits on any persons that are not party
hereto other than as expressly set forth in Article 4 and this Section 6.2.

 

6.3 Notices. All
notices, demands, requests, consents, approvals or other communications (collectively, “Notices”) required or
permitted to be given hereunder or which are given with respect to this Agreement shall be in writing and shall be personally served,
delivered by reputable air courier service with charges prepaid, or transmitted by hand delivery, telegram, telex or facsimile, addressed
as set forth below, or to such other address as such party shall have specified most recently by written notice. Notice shall be deemed
given on the date of service or transmission if personally served or transmitted by telegram, telex or facsimile; provided, that if such
service or transmission is not on a business day or is after normal business hours, then such notice shall be deemed given on the next
business day. Notice otherwise sent as provided herein shall be deemed given on the next business day following timely delivery of such
notice to a reputable air courier service with an order for next-day delivery.

 

To the Company:

 

Forest Acquisition Corp

434 W. 33rd Street, Suite 700

New York, NY 10001

Attn: Chief Executive Officer

 

with a copy to:

 

Becker & Poliakoff LLP

45 Broadway, 17th Floor

New York, NY 10006

Attn: Bill Huo, Esq.

 

To an Investor to the address set forth below such Investor’s
name on Exhibit A hereto. 

  

6.4 Severability.
This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the
validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable
term or provision, the parties hereto intend that there shall be added as a part of this Agreement a provision as similar in terms to
such invalid or unenforceable provision as may be possible that is valid and enforceable.

 

    11

    

    

 

6.5 Counterparts.
This Agreement may be executed in multiple counterparts, each of which shall be deemed an original, and all of which taken together shall
constitute one and the same instrument. Delivery of a signed counterpart of this Agreement by facsimile or email/pdf transmission shall
constitute valid and sufficient delivery thereof.

 

6.6 Entire Agreement.
This Agreement (including all agreements entered into pursuant hereto and all certificates and instruments delivered pursuant hereto and
thereto) constitute the entire agreement of the parties with respect to the subject matter hereof and supersede all prior and contemporaneous
agreements, representations, understandings, negotiations and discussions between the parties, whether oral or written.

 

6.7 Modifications
and Amendments. No amendment, modification or termination of this Agreement shall be binding upon any party unless executed in writing
by such party.

 

6.8 Titles and Headings.
Titles and headings of sections of this Agreement are for convenience only and shall not affect the construction of any provision of this
Agreement.

 

6.9 Waivers and Extensions.
Any party to this Agreement may waive any right, breach or default which such party has the right to waive, provided that such waiver
will not be effective against the waiving party unless it is in writing, is signed by such party, and specifically refers to this Agreement.
Waivers may be made in advance or after the right waived has arisen or the breach or default waived has occurred. Any waiver may be conditional.
No waiver of any breach of any agreement or provision herein contained shall be deemed a waiver of any preceding or succeeding breach
thereof nor of any other agreement or provision herein contained. No waiver or extension of time for performance of any obligations or
acts shall be deemed a waiver or extension of the time for performance of any other obligations or acts.

  

6.10 Remedies Cumulative.
In the event that the Company fails to observe or perform any covenant or agreement to be observed or performed under this Agreement,
the Investor or any other holder of Registrable Securities may proceed to protect and enforce its rights by suit in equity or action at
law, whether for specific performance of any term contained in this Agreement or for an injunction against the breach of any such term
or in aid of the exercise of any power granted in this Agreement or to enforce any other legal or equitable right, or to take any one
or more of such actions, without being required to post a bond. None of the rights, powers or remedies conferred under this Agreement
shall be mutually exclusive, and each such right, power or remedy shall be cumulative and in addition to any other right, power or remedy,
whether conferred by this Agreement or now or hereafter available at law, in equity, by statute or otherwise. 

 

6.11 Governing Law.
This Agreement shall be governed by, interpreted under, and construed in accordance with the internal laws of the State of New York applicable
to agreements made and to be performed within the State of New York, without giving effect to any choice-of-law provisions thereof that
would compel the application of the substantive laws of any other jurisdiction. The Company irrevocably submits to the nonexclusive jurisdiction
of any New York State or United States Federal court sitting in The City of New York, Borough of Manhattan, over any suit, action or proceeding
arising out of or relating to this Agreement. The Company irrevocably waives, to the fullest extent permitted by law, any objection that
they may now or hereafter have to the laying of venue of any such suit, action or proceeding brought in such a court and any claim that
any such suit, action or proceeding brought in such a court has been brought in an inconvenient forum.

 

6.12 Waiver of Trial
by Jury. EACH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES THE RIGHT TO A TRIAL
BY JURY IN ANY ACTION, SUIT, COUNTERCLAIM OR OTHER PROCEEDING (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF, CONNECTED
WITH OR RELATING TO THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREBY, OR THE ACTIONS OF THE INVESTOR IN THE NEGOTIATION, ADMINISTRATION,
PERFORMANCE OR ENFORCEMENT HEREOF.

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

    12

    

    

 

IN WITNESS WHEREOF, the parties
have caused this Registration Rights Agreement to be executed and delivered by their duly authorized representatives as of the date first
written above.

 

	 	Forest Acquisition Corp
	 	 	 
	 	By:	             
	 	Name: 	 
	 	Title:	Chief Executive Officer
	 	 	 
	 	Bit Mining Management Corp.
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

    13

    

    

 

EXHIBIT A

 

	Name and Address of Investor or Underwriter	 	Securities
	Bit Mining Management Corp. 	 	[1,897,500] Ordinary Shares 

[251,800] Private Units

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