Document:

Live Current Media Inc.: Exhibit 10.6 - Filed by newsfilecorp.com

    

    REGISTRATION RIGHTS AGREEMENT

    This Registration Rights Agreement (this "Agreement") is made and entered into as of October 27, 2022 between Live Current Media, Inc., a Nevada corporation (the "Company") and Mercer Street Global Opportunity Fund, LLC ("Purchaser").

    WHEREAS, the Company and the Purchaser are parties to that certain Securities Purchase Agreement, dated as of the date of this Agreement (the "Purchase Agreement"), pursuant to which the Purchaser is purchasing the Note and Warrants of the Company; and

    WHEREAS, in connection with the consummation of the transactions contemplated by the Purchase Agreement, and pursuant to the terms of the Purchase Agreement, the parties desire to enter into this Agreement in order to grant certain registration rights to the Purchasers as set forth below.

    NOW, THEREFORE, in consideration of the foregoing and the mutual and dependent covenants hereinafter set forth, the parties agree as follows:

    1. Defined Terms. Capitalized terms used and not otherwise defined herein shall have the meanings set forth in the Securities Purchase Agreement. 

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

    "Agreement" shall have the meaning set forth in the Preamble.

    "CDI 612.09" means Section 612.09 of the Commission's Compliance and Disclosure Interpretations.

    "Closing" means the closing of the purchase and sale of the Notes and Warrants pursuant to the Purchase Agreement.

    "Commission" means the Securities and Exchange Commission.

    "Common Stock" means the common stock of the Company, par value $0.001 per share, issuable under the Note and Warrants, and any other class of securities into which such securities may hereafter be reclassified or changed into.

    "Effectiveness Date" means, with respect to the Initial Registration Statement required to be filed hereunder or any other Registration Statement, 60 days following the filing of the Initial Registration Statement or Registration Statement; provided, however, that in the event the Company is notified by the Commission that one or more of the Registration Statements will not be reviewed or is no longer subject to further review and comments, the Effectiveness Date as to such Registration Statement shall be the fifth Trading Day following the date on which the Company is so notified if such date precedes the date otherwise required above.

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

    "Event" shall have the meaning set forth in Section 2(b).

    "Event Date" shall have the meaning set forth in Section 2(b).

    "Filing Date" means, with respect to the Initial Registration Statement required hereunder, January 16, 2023, and with respect to any additional Registration Statements which may be required pursuant to Section 2, the earliest practical date on which the Company is permitted by SEC Guidance to file such additional Registration Statements related to the Registrable Securities.

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

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

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

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

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

    "Notes" means the Original Issue Discount Convertible Promissory Notes issued to the Purchaser, under the Purchase Agreement.

    "Person" means an individual, corporation, partnership, joint venture, limited liability company, governmental authority, unincorporated organization, trust, association or other entity.

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

    "Proceeding" means any action, claim, suit, investigation or legal proceeding (including, without limitation, an informal investigation or partial proceeding, such as a deposition), whether commenced or threatened.

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

    "Purchaser" shall have the meaning set forth in the Preamble.

    "Purchase Agreement" shall have the meaning set forth in the Recitals.

    "Registrable Securities" means (a) all of the shares of Common Stock issuable under the Note and Warrants issued pursuant to the Purchase Agreement and (b) any securities issued or issuable upon any stock split, dividend or other distribution, recapitalization or similar event with respect to the foregoing; provided, however, that any such Registrable Securities shall cease to be Registrable Securities (and the Company shall not be required to maintain the effectiveness of any, or file another, Registration Statement hereunder with respect thereto) for so long as (i) a Registration Statement with respect to the sale of such Registrable Securities is declared effective by the Commission under the Securities Act and such Registrable Securities have been disposed of by the Holder in accordance with such effective Registration Statement, (ii) such Registrable Securities have been previously sold in accordance with Rule 144, (iii) such securities become eligible for resale without current public information pursuant to Rule 144 as set forth in a written opinion letter to such effect, addressed, delivered and acceptable to the Transfer Agent (assuming that such securities were at no time held by any Affiliate of the Company, and all Warrants are exercised by "cashless exercise" as provided in Section 2(c) of each of the Warrants), as reasonably determined by the Company, upon the advice of counsel to the Company or (iv) such securities may be resold under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) as set forth in a written opinion letter to such effect, addressed, delivered and acceptable to the Transfer Agent as reasonably determined by the Company (assuming that such securities were at no time held by any Affiliate of the Company, and all Warrants are exercised by "cashless exercise" as provided in Section 2(c) of each of the Warrants), upon the advice of counsel to the Company.

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

    
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    "Rule 144" means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule.

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

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

    "SEC Guidance" means (i) any publicly-available written or oral guidance (including CDI 612.09), comments, requirements or requests of the Commission staff and (ii) the Securities Act.

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

    "Warrants" means, collectively, the Common Stock purchase warrants delivered to the Purchasers in accordance with the Purchase Agreement.

    2. Registration.

    (a) On or prior to the Filing Date, the Company shall prepare and file with the Commission a Registration Statement covering the resale of all of the Registrable Securities that are not then registered on an effective Registration Statement for an offering to be made on a continuous basis pursuant to Rule 415. Each Registration Statement filed hereunder shall be on Form S-1 or such other form as may be available to register the resale of the Registrable Securities and shall contain a description of the Holders planned distribution (unless otherwise directed by at least an 75% majority in interest of the Holders) substantially in the form of "Plan of Distribution" attached hereto as Annex A. In the event the amount of Registrable Securities which may be included in the Registration Statement is limited due to SEC Guidance (provided that, the Company shall use diligent efforts to advocate with the Commission for the registration of all of the Registrable Securities in accordance with the SEC Guidance, including without limitation, the CDI 612.09) the Company shall use its best efforts to register such maximum portion of the Registrable Securities as permitted by SEC Guidance. Subject to the terms of this Agreement, the Company shall use its commercially reasonable efforts to cause a Registration Statement to be declared effective under the Securities Act as promptly as possible after the filing thereof, but in any event prior to the applicable Effectiveness Date, and shall use commercially reasonable efforts to keep such Registration Statement continuously effective under the Securities Act until the earliest of (i) all Registrable Securities covered by such Registration Statement have been sold thereunder or pursuant to Rule 144, (ii) all Registrable Securities may be sold without the requirement that the Company be in compliance with the current public information requirements of Rule 144, as determined by the counsel to the Company pursuant to a written opinion letter to such effect, addressed and acceptable to the Transfer Agent, (iii) the three (3) year anniversary of the Closing Date or (iv) all Registrable Securities are not required to be registered in reliance upon the exemption in Section 4(a)(1) or 4(a)(7) under the Securities Act, in either case as determined by the counsel to the Company pursuant to a written opinion letter to such effect, addressed and acceptable to the Transfer Agent and the affected Holders (the "Effectiveness Period"). The Company shall telephonically request effectiveness of a Registration Statement as of 5:00 p.m. New York City time on a Trading Day. The Company shall immediately notify the Holders via facsimile or by e-mail of the effectiveness of a Registration Statement on the same Trading Day that the Company telephonically confirms effectiveness with the Commission, which shall be the date requested for effectiveness of such Registration Statement. The Company shall file a final Prospectus with the Commission as required by Rule 424. Notwithstanding any other provision of this Agreement, if any SEC Guidance sets forth a limitation on the number of Registrable Securities permitted to be registered on a particular Registration Statement (and notwithstanding that the Company used diligent efforts to advocate with the Commission for the registration of all or a greater portion of Registrable Securities), unless otherwise directed in writing by a Holder as to its Registrable Securities, the number of Registrable Securities to be registered on such Registration Statement will be reduced on a pro rata basis based on the total number of unregistered Registrable Securities purchased by the Purchasers pursuant to the Purchase Agreement with the Warrant Shares being cutback prior to any Conversion Shares. In the event of a cutback hereunder, the Company shall give the Holder at least five Trading Days prior written notice along with the calculations as to such Holder's allotment.

    
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    (b) If a Registration Statement registering for resale all of the Registrable Securities (i) is not declared effective by the Commission by the Effectiveness Date of the Initial Registration Statement or any other Registration Statement (unless the sole reason for such non-registration of all or any portion of the Registrable Securities is solely as a result of SEC Guidance under Rule 415 or similar rule and CDI 612.09 which limits the number of Registrable Securities which may be included in a registration statement with respect to the Holders), or (ii) after the effective date of a Registration Statement, such Registration Statement ceases for any reason to remain continuously effective as to all Registrable Securities included in such Registration Statement, or the Holders are otherwise not permitted to utilize the Prospectus therein to resell such Registrable Securities, for more than 30 calendar days during any 12-month period (any such failure or breach being referred to as an "Event", and the date on which such Event occurs, being referred to as "Event Date"), then, in addition to any other rights the Holders may have hereunder or under applicable law, on each such Event Date and on each monthly anniversary of each such Event Date (if the applicable Event shall not have been cured by such date) until the applicable Event is cured, the Company shall pay to each Holder an amount in cash, as partial liquidated damages and not as a penalty, equal to 2% of the purchase price paid by such Holder pursuant to the Purchase Agreement, during which such Event continues uncured. The partial liquidated damages pursuant to the terms hereof shall apply on a daily pro rata basis for any portion of a month prior to the cure of an Event. Provided, however, the foregoing liquidated damages shall not accrue or be otherwise charged during any period in which the Investor is eligible to sell the Shares on any given day under Rule 144 (or would be able eligible to sell such Shares but for the volume or manner of sale limitations of such rule)(including, with respect to the Warrant Shares, where such Warrant Shares are resalable under Rule 144 if issued pursuant to a cashless exercise of the Warrants), or in reliance upon the exemption in Section 4(a)(1) under the Securities Act, or after such Investor has publicly sold its Registrable Securities.

    3. Registration Procedures.

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

    (a) Not less than five Trading Days prior to the filing of each Registration Statement and not less than one Trading Day prior to the filing of any related Prospectus or any amendment or supplement thereto (including any document that would be incorporated or deemed to be incorporated therein by reference), the Company shall  furnish to the Holders copies of all such documents proposed to be filed, which documents (other than those incorporated or deemed to be incorporated by reference) will be subject to the review of the Holders or counsel for the Holders. The Company shall not file a Registration Statement or any such Prospectus or any amendments or supplements thereto to which the Holders of a majority of the Registrable Securities shall reasonably object in good faith, provided that, the Company is notified of such objection in writing no later than three Trading Days after the Holders have been so furnished copies of a Registration Statement or one Trading Day after the Holders have been so furnished copies of any related Prospectus or amendments or supplements thereto. Each Holder agrees to furnish to the Company a completed questionnaire in the form attached to this Agreement as Annex B (a "Selling Stockholder Questionnaire") on a date that is not less than the earlier of two Trading Days prior to the Filing Date or by the end of the third Trading Day following the date on which such Holder receives draft materials in accordance with this Section.

    (b) (i) prepare and file with the Commission such amendments, including post-effective amendments, to a Registration Statement and the Prospectus used in connection therewith as may be necessary to keep a Registration Statement continuously effective as to the applicable Registrable Securities for the Effectiveness Period and prepare and file with the Commission such additional Registration Statements in order to register for resale under the Securities Act all of the Registrable Securities,

    (ii) cause the related Prospectus to be amended or supplemented by any required Prospectus supplement (subject to the terms of this Agreement), and, as so supplemented or amended, to be filed pursuant to Rule 424,

    (iii) respond to any comments received from the Commission with respect to a Registration Statement or any amendment thereto as promptly as reasonably possible but in no event later than seven business days after the receipt of such comments, and provide as promptly as reasonably possible to the Holders true and complete copies of all correspondence from and to the Commission relating to a Registration Statement (provided that, the Company may excise any information contained therein which would constitute material non-public information as to any Holder which has not executed a confidentiality agreement with the Company), and

    
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    (iv) comply in all material respects with the provisions of the Securities Act and the Exchange Act with respect to the disposition of all Registrable Securities covered by a Registration Statement during the applicable period in accordance (subject to the terms of this Agreement) with the intended methods of disposition by the Holders thereof set forth in such Registration Statement as so amended or in such Prospectus as so supplemented.

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

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

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

    (f) Subject to the terms of this Agreement, the Company hereby consents to the use of such Prospectus and each amendment or supplement thereto by each of the selling Holders in connection with the offering and sale of the Registrable Securities covered by such Prospectus and any amendment or supplement thereto, except after the giving of any notice pursuant to Section 6(f).

    
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    (g) The Company shall cooperate with any broker-dealer through which a Holder proposes to resell its Registrable Securities in effecting a filing with the FINRA Corporate Financing Department pursuant to FINRA Rule 5110 and 5190 and NASD Rule 2710, as requested by any such Holder, and the Company shall pay the filing fee required by such filing within two Trading Days of request therefor.

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

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

    (j) If the Company notifies the Holders in accordance with clauses (iii) through (vi) of Section 3(c) above to suspend the use of any Prospectus until the requisite changes to such Prospectus have been made, then the Holders shall suspend use of such Prospectus. The Company will use its best efforts to ensure that the use of the Prospectus may be resumed as promptly as is practicable.

    (k) Comply in all material respects with all applicable rules and regulations of the Commission.

    (l) The Company may, at any time during the Effectiveness Period, require each selling Holder to, and upon receipt of a written request therefor, each selling Holder shall promptly, furnish to the Company a certified statement as to the number of shares of Common Stock beneficially owned by such Holder and, if required by the Commission, the natural persons thereof that have voting and dispositive control over the shares. The Company shall not be liable for any damages during any periods that the Company is unable to meet its obligations hereunder with respect to the registration of the Registrable Securities solely because any Holder fails to furnish such information within three Trading Days of the Company's request.

    4. Registration Expenses. All fees and expenses incident to the performance of or compliance with this Agreement by the Company shall be borne by the Company whether or not any Registrable Securities are sold pursuant to a Registration Statement. The fees and expenses referred to in the foregoing sentence shall include, without limitation, (i) all registration and filing fees (including, without limitation, fees and expenses of the Company's counsel, independent registered public accountants and transfer agent) (A) with respect to filings made with the Commission, (B) with respect to filings required to be made with any Trading Market on which the Common Stock is then listed for trading, (C) in compliance with applicable state securities or Blue Sky laws reasonably agreed to by the Company in writing (including, without limitation, fees and disbursements of counsel for the Company in connection with Blue Sky qualifications or exemptions of the Registrable Securities) and (D) if not previously paid by the Company in connection with an issuer filing, with respect to any filing that may be required to be made by any broker-dealer through which a Holder intends to make sales of Registrable Securities pursuant to FINRA Rule 5110 and 5190 and NASD Rule 2710, so long as the broker-dealer is receiving no more than a customary brokerage commission in connection with such sale, (ii) printing expenses (including, without limitation, expenses of printing certificates for Registrable Securities), and (iii) messenger, telephone and delivery expenses, (iv) fees and disbursements of counsel for the Company. In addition, the Company shall be responsible for all of its internal expenses incurred in connection with the consummation of the transactions contemplated by this Agreement (including, without limitation, all salaries and expenses of its officers and employees performing legal or accounting duties), the expense of any annual audit and the fees and expenses incurred in connection with the listing of the Registrable Securities on any Trading Market as required hereunder. In no event shall the Company be responsible for any broker-dealer or similar commissions of any Holder or, except to the extent provided for in the Transaction Documents, any legal fees or other costs of the Holders.

    
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    5. Indemnification.

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

    (b) Indemnification by Holders. Each Holder shall, severally and not jointly, indemnify and hold harmless the Company, each director of the Company, each officer of the Company who shall sign such Registration Statement, each underwriter, broker or other Person acting on behalf of the holders of Registrable Securities and each Person who controls any of the foregoing Persons within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, to the fullest extent permitted by applicable law, from and against all Losses, as incurred, to the extent arising out of or based solely upon: (x) such Holder's failure to comply with the prospectus delivery requirements of the Securities Act or (y) any untrue or alleged untrue statement of a material fact contained in any Registration Statement, any Prospectus, or in any amendment or supplement thereto or in any preliminary prospectus, or arising out of or relating to any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein not misleading (i) to the extent, but only to the extent, that such untrue statement or omission is contained in any information so furnished in writing by such Holder to the Company specifically for inclusion in such Registration Statement or such Prospectus or (ii) to the extent that such information relates to such Holder's proposed method of distribution of Registrable Securities and was reviewed and expressly approved in writing by such Holder expressly for use in a Registration Statement (it being understood that the Holder has approved Annex A hereto for this purpose), such Prospectus or in any amendment or supplement thereto or (ii) in the case of an occurrence of an event of the type specified in Section 3(c)(iii)-(vi), the use by such Holder of an outdated or defective Prospectus after the Company has notified such Holder in writing that the Prospectus is outdated or defective and prior to the receipt by such Holder of the Advice contemplated in Section 6(d). In no event shall the liability of any selling Holder hereunder be greater in amount than the dollar amount of the net proceeds (after underwriting fees, commissions, or discounts) actually received by such Holder upon the sale of the Registrable Securities giving rise to such indemnification obligation.

    
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    (c) Conduct of Indemnification Proceedings. If any Proceeding shall be brought or asserted against any Person entitled to indemnity hereunder (an "Indemnified Party"), such Indemnified Party shall promptly notify the Person from whom indemnity is sought (the "Indemnifying Party") in writing, and the Indemnifying Party shall have the right to assume the defense thereof, including the employment of one law firm reasonably satisfactory to the Indemnified Party and the payment of all fees and expenses incurred in connection with defense thereof except as otherwise provided in this Section 5(c); provided, that, the failure of any Indemnified Party to give such notice shall not relieve the Indemnifying Party of its obligations or liabilities pursuant to this Agreement, except (and only) to the extent that it shall be finally determined by a court of competent jurisdiction (which determination is not subject to appeal or further review) that such failure shall have materially prejudiced the Indemnifying Party.

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

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

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

    The parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 5(d) were determined by pro rata allocation or by any other method of allocation that does not take into account the equitable considerations referred to in the immediately preceding paragraph. Notwithstanding the provisions of this Section 5(d), no Holder shall be required to contribute, in the aggregate, any amount in excess of the amount by which the net proceeds actually received by such Holder from the sale of the Registrable Securities subject to the Proceeding exceeds the amount of any damages that such Holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission.

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

    6. Miscellaneous.

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

    (b) Prohibition on Filing Other Registration Statements Neither the Company nor any of its security holders (other than the Holders in such capacity pursuant hereto) may include securities of the Company in any Registration Statements other than the Registrable Securities. The Company shall not file any other registration statements until all Registrable Securities are registered pursuant to a Registration Statement that is declared effective by the Commission, provided that this Section 6(b) shall not prohibit the Company from filing amendments to registration statements filed prior to the date of this Agreement. In the event that, under SEC Guidance, there is a limitation on the number of Registrable Securities that may be included in a Registration Statement, securities of the Company that have been registered on an effective registration statement of the Company as of the date of this Agreement shall be registered prior to any of the Registrable Securities. Thereafter, the Holders shall have priority over any other security holders with outstanding registration rights. Any reduction pursuant to this Section 6(b) in the number of Registrable Securities registered shall be done on a pro rata basis in accordance with the Holders' investment made pursuant to the Purchase Agreement.

    (c) Compliance. Each Holder covenants and agrees that it will comply with the prospectus delivery requirements of the Securities Act as applicable to it in connection with sales of Registrable Securities pursuant to a Registration Statement and that it will conduct all officers and sales of Registrable Securities as described in the Plan of Distribution included as Annex A hereto.

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

    (e) Amendments and Waivers. The provisions of this Agreement, including the provisions of this sentence, may not be amended, modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given, unless the same shall be in writing and signed by the Company and the Holders of more than 50% of the Registrable Securities. If a Registration Statement does not register all of the Registrable Securities pursuant to a waiver or amendment done in compliance with the previous sentence, then the number of Registrable Securities to be registered for each Holder shall be reduced pro rata among all Holders and each Holder shall have the right to designate which of its Registrable Securities shall be omitted from such Registration Statement. Notwithstanding the foregoing, a waiver or consent to depart from the provisions hereof with respect to a matter that relates exclusively to the rights of a Holder or some Holders and that does not directly or indirectly affect the rights of other Holders may be given by such Holder or Holders of all of the Registrable Securities to which such waiver or consent relates; provided, however, that the provisions of this sentence may not be amended, modified, or supplemented except in accordance with the provisions of the first sentence of this Section 6(e).

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

    
        9

    

    

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

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

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

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

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

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

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

    (n) Independent Nature of Holders' Obligations and Rights. The obligations of each Holder hereunder are several and not joint with the obligations of any other Holder hereunder, and no Holder shall be responsible in any way for the performance of the obligations of any other Holder hereunder. Nothing contained herein or in any other agreement or document delivered at any closing, and no action taken by any Holder pursuant hereto or thereto, shall be deemed to constitute the Holders as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Holders are in any way acting in concert with respect to such obligations or the transactions contemplated by this Agreement. Each Holder shall be entitled to protect and enforce its rights, including without limitation the rights arising out of this Agreement, and it shall not be necessary for any other Holder to be joined as an additional party in any proceeding for such purpose.

    [Signature Pages Follow]

    
        10

    

    

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

    	
                 

            	
                LIVE CURRENT MEDIA, INC. 

            
	
                 

            	
                  

            	
                 

            
	 	 	 
	
                 

            	
                By:

            	
                /s/ Mark Ollila

            
	
                 

            	
                 

            	
                Name: 

            	
                Mark Ollila

            
	
                 

            	
                 

            	
                Title:

            	
                Chief Executive Officer

            

    [Signature Page to Registration Rights Agreement]

    
        11

    

    

    Name of Holder:  MERCER STREET CAPITAL PARTNERS, on behalf of,

    MERCER STREET GLOBAL OPPORTUNITY FUND, LLC

    Signature of Authorized Signatory of Holder: /s/ Jonathan Juchno

    Name of Authorized Signatory: Jonathan Juchno

    Title of Authorized Signatory: Authorized Representative

     

     

    [Signature Page to Registration Rights Agreement]

    
        12

    

    

    Annex A

    Plan of Distribution

    Each Selling Stockholder (the "Selling Stockholders") of the Common Stock and any of their pledgees, assignees and successors-in-interest may, from time to time, sell any or all of their shares of Common Stock on the OTC Markets or any other stock exchange, market or trading facility on which the shares are traded or in private transactions. These sales may be at fixed or negotiated prices. A Selling Stockholder may use any one or more of the following methods when selling shares:

    	
                 

            	
                ☐

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

            
	 	 	 
	
                 

            	
                ☐

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

            
	 	 	 
	
                 

            	
                ☐

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

            
	 	 	 
	
                 

            	
                ☐

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

            
	 	 	 
	
                 

            	
                ☐

            	
                privately negotiated transactions;

            
	 	 	 
	
                 

            	
                ☐

            	
                settlement of short sales entered into after the effective date of the registration statement of which this prospectus is a part;

            
	 	 	 
	
                 

            	
                ☐

            	
                broker-dealers may agree with the Selling Stockholders to sell a specified number of such shares at a stipulated price per share;

            
	 	 	 
	
                 

            	
                ☐

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

            
	 	 	 
	
                 

            	
                ☐

            	
                a combination of any such methods of sale; or

            
	 	 	 
	
                 

            	
                ☐

            	
                any other method permitted pursuant to applicable law.

            

    The Selling Stockholders may also sell shares under Rule 144 under the Securities Act of 1933 (the "Securities Act"), if available, rather than under this prospectus.

    Broker-dealers engaged by the Selling Stockholders may arrange for other brokers or dealers to participate in sales. Broker-dealers may receive commissions or discounts from the Selling Stockholders (or, if any broker-dealer acts as agent for the purchaser of shares, from the purchaser) in amounts to be negotiated, but, except as set forth in a supplement to this Prospectus, in the case of an agency transaction not in excess of a customary brokerage commission in compliance with FINRA Rule 2121 or NASD Rule 2440; and in the case of a principal transaction a markup or markdown in compliance with NASD IM-2440.

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

    
        13

    

    

    The Selling Stockholders and any broker-dealers or agents that are involved in selling the shares may be deemed to be "underwriters" within the meaning of the Securities Act in connection with such sales. In such event, any commissions received by such broker-dealers or agents and any profit on the resale of the shares purchased by them may be deemed to be underwriting commissions or discounts under the Securities Act. Each Selling Stockholder has informed the Company that it does not have any written or oral agreement or understanding, directly or indirectly, with any person to distribute the Common Stock. In no event shall any broker-dealer receive fees, commissions and markups which, in the aggregate, would exceed eight percent.

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

    Because Selling Stockholders may be deemed to be "underwriters" within the meaning of the Securities Act, they will be subject to the prospectus delivery requirements of the Securities Act including Rule 172 thereunder. In addition, any securities covered by this prospectus which qualify for sale pursuant to Rule 144 under the Securities Act may be sold under Rule 144 rather than under this prospectus. There is no underwriter or coordinating broker acting in connection with the proposed sale of the resale shares by the Selling Stockholders.

    The shares will be sold only through registered or licensed brokers or dealers if required under applicable state securities laws. In addition, in certain states, the shares may not be sold unless they have been registered or qualified for sale in the applicable state or an exemption from the registration or qualification requirement is available and is complied with.

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

    
        14

    

    

    Annex B

    Selling Stockholder Notice and Questionnaire

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

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

    NOTICE

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

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

    QUESTIONNAIRE

    	
                1.

            	
                Name.

            

    

    	
                 

            	
                (a)

            	
                Full Legal Name of Selling Stockholder

            
	
                 

            	
                 

            	
                 

            
	
                 

            	
                 

            	
                 

            
	
                 

            	
                (b)

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

            
	
                 

            	
                 

            	
                 

            
	
                 

            	
                 

            	
                 

            
	
                 

            	
                (c)

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

            
	
                 

            	
                 

            	
                 

            

    

    	
                2.

            	
                Address for Notices to Selling Stockholder:

            
	 	 
	 	 
	 	 
	 	 
	 	 

    Telephone: _____________________________________________________________________________________

    ______________________________________________________________________________________________

    Contact Person: 
______________________________________________________________________________________________

    	
                3.

            	
                Broker-Dealer Status:

            

    

    	
                 

            	
                (a)

            	
                Are you a broker-dealer?

            

    Yes ☐      No ☐

    
        15

    

    

    	
                 

            	
                (b)

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

            

    Yes ☐      No ☐

    	
                 

            	
                Note:

            	
                If "no" to Section 3(b), the Commission's staff has indicated that you should be identified as an underwriter in the Registration Statement.

            

    

    	
                 

            	
                (c)

            	
                Are you an affiliate of a broker-dealer?

            

    Yes ☐      No ☐

    	
                 

            	
                (d)

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

            

    Yes ☐      No ☐

    	
                 

            	
                Note:

            	
                If "no" to Section 3(d), the Commission's staff has indicated that you should be identified as an underwriter in the Registration Statement.

            

    

    	
                4.

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

            

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

    	
                 

            	
                (a)

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

            
	
                 

            	
                 

            	
                 

            
	
                 

            	
                 

            	
                 

            

    

    	
                5.

            	
                Relationships with the Company:

            

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

    State any exceptions here:

    The undersigned agrees to promptly notify the Company of any inaccuracies or changes in the information provided herein that may occur subsequent to the date hereof at any time while the Registration Statement remains effective.

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

    
        16

    

    

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

    	
                Date:   ____________________________

            	
                Beneficial Owner:  ____________________________

            

    

    	
                 

            	
                By:

            	
                 

            
	
                 

            	
                 

            	
                Name:

            
	
                 

            	
                 

            	
                Title:

            

    PLEASE EMAIL A COPY OF THE COMPLETED AND EXECUTED NOTICE AND QUESTIONNAIRE TO:

    
        17Exhibit 10.2

 

AMENDED
AND RESTATED REGISTRATION RIGHTS AGREEMENT

 

THIS
AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made and entered into as of August 15, 2022
by and between BioVie Inc., a Nevada corporation (the “Company”), and Acuitas Group Holdings, LLC, a California limited
liability company (“Acuitas”). The Company and Acuitas are sometimes collectively referred to herein as the “Parties”
and each is sometimes referred to herein as a “Party.”

 

WHEREAS,
the Company and Acuitas are parties to that certain Registration Rights Agreement, dated as of June 10, 2021 (the “Prior Agreement”)
that was entered into in connection with the transactions (the “Transactions”) contemplated by the Asset Purchase
Agreement, dated as of April 27, 2021 (the “Asset Purchase Agreement”), by and among the Company, NeurMedix, Inc.,
a Delaware corporation (“NeurMedix”), and Acuitas;

 

WHEREAS,
on July 15, 2022, the Company and Acquitas entered into that certain Securities Purchase Agreement (the “Securities Purchase
Agreement”), pursuant to which the parties agreed to enter into this Agreement at the closing of the transactions contemplated
by the Securities Purchase Agreement;

 

WHEREAS,
pursuant to Section 3.11 of the Prior Agreement, an amendment to the Prior Agreement may only be made by means of a written amendment
signed by the Company and Acuitas; and

 

WHEREAS,
the parties desire to amend and restate the Prior Agreement in its entirety and enter into this Agreement.

 

NOW,
THEREFORE, in consideration of the mutual covenants and agreements set forth herein and for good and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged by each party hereto, the Parties hereby agree as follows:

 

ARTICLE
I 

DEFINITIONS

 

Section
1.1 Definitions. As used in and for purposes of this Agreement, the following terms have the following meanings:

 

“Affiliate”
means, with respect to any specified Person, any Person that, directly or indirectly through one or more entities, controls or is controlled
by, or is under common control with, such specified Person. As used herein, “controls”, “control” and “controlled”
means the possession, direct or indirect, of the power to direct the management and policies of a Person, whether through the ownership
of the voting interests of such Person, through contract or otherwise. For purposes of this Agreement, none of NeurMedix, NeurMedix,
LLC or Acuitas shall be considered “Affiliates” of the Company.

 

“Agreement”
has the meaning given to such term in the preamble to this Agreement.

 

“Asset
Purchase Agreement” has the meaning given to such term in the recitals of this Agreement.

 

“Commission”
has the meaning given to such term in Section 1.2.

 

“Common
Stock” means the Class A common stock of the Company, par value $0.0001 per share.

 

“Company”
has the meaning given to such term in the preamble to this Agreement.

 

“Effectiveness
Period” has the meaning given to such term in Section 2.1.

 

“Equity
Security” has the meaning ascribed to such term in Rule 405 under the Securities Act, and in any event includes any security
having the attendant right to vote for directors or similar representatives.

 

    

     

    

“Exchange
Act” has the meaning given to such term in Section 2.8(a).

 

“Holdback
Period” has the meaning given to such term in Section 2.11.

 

“Holder”
means Acuitas or, following the assignment of Acuitas’ rights and obligations under this Agreement pursuant to Section 2.10,
Acuitas’ successor or assign hereunder.

 

“Included
Registrable Securities” has the meaning given to such term in Section 2.3(a).

 

“Losses”
has the meaning given to such term in Section 2.8(a).

 

“Managing
Underwriter(s)” means, with respect to any Underwritten Offering, the book-running lead manager(s) of such Underwritten Offering.

 

“Notice”
has the meaning given to such term in Section 2.1.

 

“Person”
means any natural person, corporation, general partnership, limited partnership, limited liability company, limited liability partnership,
proprietorship, trust, union, association, court, tribunal, agency, government, department, commission, self-regulatory organization,
arbitrator, board, bureau, instrumentality, governmental authority or other entity, enterprise, authority or business organization.

 

“Registrable
Securities” means (i) the shares of Common Stock issued or issuable pursuant to the Asset Purchase Agreement and (ii) the Shares
and the Warrant Shares (as each such term is defined in the Securities Purchase Agreement) issued or issuable pursuant to the terms of
the Securities Purchase Agreement and the Warrants (as such term is defined in the Securities Purchase Agreement).

 

“Registration
Expenses” means all expenses (other than Selling Expenses) incident to the Company’s performance under or compliance
with this Agreement to effect the registration of Registrable Securities on a Registration Statement pursuant to Section 2.1
and/or in connection with an Underwritten Offering pursuant to Section 2.2(a) or Section 2.3(a), and the
disposition of such Registrable Securities, including, without limitation, all registration, filing, securities exchange listing and
securities exchange fees, all registration, filing, qualification and other fees and expenses of complying with securities or blue sky
laws, fees of the Financial Industry Regulatory Authority, fees of transfer agents and registrars, all word processing, duplicating and
printing expenses, expenses incurred in connection with any road show, any transfer taxes and the fees and disbursements of counsel and
independent public accountants for the Company, including the expenses of any special audits or “cold comfort” letters required
by or incident to such performance and compliance.

 

“Registration
Statement” has the meaning given to such term in Section 2.1.

 

“Securities
Act” has the meaning given to such term in Section 1.2.

 

“Selling
Expenses” means all underwriting fees, discounts and selling commissions applicable to the sale of Registrable Securities.

 

“Shelf
Registration Statement” has the meaning given to such term in Section 2.1.

 

“Testing-the-Waters
Communication” means any oral or written communication with potential investors undertaken in reliance on Section 5(d)
of the Securities Act.

 

“Transaction”
has the meaning given to such term in the recitals of this Agreement.

 

    2

     

    

“Underwritten
Offering” means an offering (including an offering pursuant to a Registration Statement) in which Registrable Securities are
sold to an underwriter on a firm commitment basis for reoffering to the public or an offering that is a “bought deal” with
one or more investment banks.

 

“Written
Testing-the-Waters Communication” means any Testing-the-Waters Communication that is a written communication within the meaning
of Rule 405 under the Securities Act.

 

Section
1. 2 Registrable Securities. Any Registrable Security will cease to be a Registrable Security (a) at the time a
Registration Statement covering such Registrable Security has been declared effective by the Securities and Exchange Commission (the
“Commission”), or otherwise has become effective, and such Registrable Security has been sold or disposed of
pursuant to such Registration Statement; (b) at the time such Registrable Security has been disposed of pursuant to Rule 144
(or any similar provision then in effect under the Securities Act of 1933, as amended, and the rules and regulations promulgated
thereunder (the “Securities Act”)); (c) if such Registrable Security is held by the Company; or (d) at the
time such Registrable Security has been sold in a private transaction in which the Holder’s rights under this Agreement are
not assigned to the recipient of such securities.

 

ARTICLE
II 

REGISTRATION
RIGHTS 

 

Section 2.1 Demand
Registration. Upon the written request (a “Notice”) by the Holder, the Company shall file with the Commission,
as soon as reasonably practicable, but in no event more than 30 days following the receipt of the Notice, a registration statement (each,
a “Registration Statement”) under the Securities Act providing for the resale of the Registrable Securities (which
may, at the option of the Holder, be a registration statement under the Securities Act that provides for the resale of the Registrable
Securities pursuant to Rule 415 from time to time by the Holder (a “Shelf Registration Statement”)). The Company shall
use its commercially reasonable efforts to cause each Registration Statement to be declared effective by the Commission as soon as reasonably
practicable after the initial filing of the Registration Statement. Any Registration Statement shall provide for the resale pursuant
to any method or combination of methods legally available to, and requested by, the Holder. To the extent the initial Registration Statement
is not made on Form S-3, the Company shall, upon becoming eligible to file a registration statement on Form S-3, prepare and file a new
Registration Statement on Form S-3 to replace the initial Registration Statement and use its best efforts to cause such subsequent Registration
Statement to be declared effective by the Commission as soon as reasonably practicable thereafter. The Company shall use its commercially
reasonable efforts to cause each Registration Statement filed pursuant to this Section 2.1 to be continuously effective,
supplemented and amended to the extent necessary to ensure that it is available for the resale of all Registrable Securities by the Holder
until all Registrable Securities covered by such Registration Statement have ceased to be Registrable Securities (the “Effectiveness
Period”). Each Registration Statement when effective (and the documents incorporated therein by reference) shall comply as
to form in all material respects with all applicable requirements of the Securities Act and shall not contain an untrue statement of
a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading.
The Holder shall be limited to two demand registrations under this Section 2.1 in any twelve-month period (provided, however,
that there shall be no limit on the number of Shelf Registration Statements that may be required by the Holder hereunder), and the Company
shall not be obligated to file more than one Registration Statement within 120 days after the effective date of any Registration Statement
filed by the Company; provided, further, that no demand registration under this Section 2.1 shall be deemed to have
occurred for purposes of this sentence if the Registration Statement relating thereto (a) does not become effective within 180 days of
the date first filed with the Commission, (b) is not maintained effective for the Effectiveness Period required under this Section
2.1 or (c) the offering of the Registrable Securities pursuant to such Registration Statement is subject to a stop order, injunction,
or similar order or requirement of the Commission during such period.

 

Section
2.2 Underwritten Offerings.

 

(a)
Request for Underwritten Offering. Subject to Section 2.2(b), in the event that the Holder elects to dispose of Registrable
Securities pursuant to an Underwritten Offering, the Company shall, upon written request by the Holder, retain underwriters in order
to permit the Holder to effect such sale through an Underwritten Offering. The obligation of the Company to retain underwriters shall
include entering into an underwriting agreement in customary form with the Managing Underwriter(s), which shall include, among other
provisions, indemnities to the effect and to the extent provided in Section 2.8 and taking all reasonable actions as are
requested by the Managing Underwriter(s) to expedite or facilitate the disposition of such Registrable Securities. The Company shall,
upon request of the Holder, cause its management to participate in a roadshow or similar marketing effort on behalf of the Holder.

 

    3

     

    

(b)
Limitation on Underwritten Offerings. In no event shall the Company be required under Section 2.2(a) to participate
in more than three Underwritten Offerings requested by the Holder in any twelve-month period.

 

(c)
General Procedures. In connection with any Underwritten Offering under this Agreement, the Holder shall be entitled, subject to
the Company’s consent (which is not to be unreasonably withheld, conditioned or delayed), to select the Managing Underwriter(s).
In connection with any Underwritten Offering under this Agreement, the Holder and the Company shall be obligated to enter into an underwriting
agreement that contains such representations and warranties, covenants, indemnities and other rights and obligations as are customary
in underwriting agreements for firm commitment offerings of securities. The Holder may not participate in such Underwritten Offering
unless the Holder agrees to sell its Registrable Securities on the basis provided in such underwriting agreement and completes and executes
all questionnaires, powers of attorney, indemnities and other documents reasonably required under the terms of such underwriting agreement.
The Holder may, at its option, require that (i) any or all of the representations and warranties by, and the other agreements on the
part of, the Company to and for the benefit of such underwriters also be made to and for the Holder’s benefit and that any or all
of the conditions precedent to the obligations of such underwriters under such underwriting agreement also be conditions precedent to
the Holder’s obligations, and (ii) the Company deliver such documents and certificates as may be reasonably requested by the Holder,
its counsel or the Managing Underwriter(s) to evidence the continued validity of the representations and warranties made by the Company
pursuant to this Section 2.2(c) and to evidence compliance with any customary conditions contained in such underwriting agreement.
If the Holder disapproves of the terms of an underwriting, the Holder may elect to withdraw from the Underwritten Offering by notice
to the Company and the Managing Underwriter(s); provided, however, that such withdrawal must be made at a time prior to the time
of pricing of such Underwritten Offering. No such withdrawal shall affect the Company’s obligation to pay Registration Expenses.

 

Section
2.3 Piggyback Rights.

 

(a)
Participation. If the Company proposes to file (i) a registration statement or (ii) a prospectus supplement to an effective
shelf registration statement and the Holder may be included in the offering to which such prospectus supplement relates without the filing
of a post-effective amendment to such shelf registration statement, in each case, for the sale of Common Stock in an Underwritten Offering
for its own account and/or another Person, then as soon as practicable following the engagement of counsel by the Company to prepare
the documents to be used in connection with such Underwritten Offering, the Company shall give prompt notice (including notification
by electronic mail) of such proposed Underwritten Offering to the Holder and such notice shall offer the Holder the opportunity to include
in such Underwritten Offering such number of Registrable Securities (the “Included Registrable Securities”) as the
Holder may request in writing. Subject to Section 2.3(b), the Company shall include in such Underwritten Offering all included
Registrable Securities with respect to which the Company has received requests within five (5) Business Days (or one (1) Business
Day in connection with a “bought deal” or an “overnight” Underwritten Offering) after the Company’s notice
has been delivered in accordance with Section 3.1. If no written request for inclusion from the Holder is received within
the specified time, the Holder shall have no further right to participate in such Underwritten Offering. If, at any time after giving
written notice of its intention to undertake an Underwritten Offering and prior to the closing of such Underwritten Offering, the Company
shall determine for any reason not to undertake or to delay such Underwritten Offering, the Company may, at its election, give written
notice of such determination to the Holder and, (x) in the case of a determination not to undertake such Underwritten Offering,
shall be relieved of its obligation to sell any Included Registrable Securities in connection with such terminated Underwritten Offering
and (y) in the case of a determination to delay such Underwritten Offering, shall be permitted to delay offering any Included Registrable
Securities for the same period as the delay in the Underwritten Offering. The Holder shall have the right to withdraw the Holder’s
request for inclusion of the Holder’s Registrable Securities in such Underwritten Offering by giving written notice to the Company
of such withdrawal at or prior to the time of pricing of such Underwritten Offering.

 

    4

     

    

(b)
Priority of Registration. If the Managing Underwriter(s) of any proposed Underwritten Offering advises the Company in writing
that in its reasonable view the total amount of Registrable Securities that the Holder and any other Persons intend to include in such
offering exceeds the number that can be sold in such offering without being likely to have an adverse effect in any material respect
on the price, timing or distribution of the Common Stock offered or the market for the Common Stock, then the total number of shares
of Common Stock to be included in such Underwritten Offering shall be reduced to such number of shares of Common Stock that such Managing
Underwriter(s) advises the Company can be sold without having such adverse effect, with such number to be allocated (i) first, to
the Company, unless the Holder initiates the Underwritten Offering, in which case it shall be first allocated to the Holder, and (ii) second,
to the Holder (or to the Company, if the Holder initiates the Underwritten Offering).

 

Section
2.4 Delay Rights. If the Company’s board of directors determines that that the filing of a Registration Statement with
respect to Registrable Securities pursuant to Section 2.1 would be materially detrimental to the Company and its shareholders
because such registration would (a) materially interfere with a significant acquisition, reorganization, financing or other
similar transaction involving the Company, (b) require premature disclosure of material information that the Company has a bona
fide business purpose for preserving as confidential or (c) render the Company unable to comply with applicable securities
laws, then the Company shall have the right to postpone compliance with its obligations under this Article II with respect to
such Registration Statement for a period of not more than three months, provided, that such right pursuant to this Section 2.4
may not be utilized more than twice in any twelve-month period; and provided, further, that the Company shall at all
times use its reasonable best efforts to cause any Registration Statement required under Section 2.1 to be filed as soon as
possible. The Company shall promptly give the Holder written notice of any postponement made in accordance with this Section
2.4.

 

Section
2.5 Sale Procedures. In connection with its obligations under this Article II, the Company will, as expeditiously as
reasonably practicable:

 

(a)
prepare and file with the Commission such amendments and supplements to each Registration Statement and the prospectus used in connection
therewith as may be necessary to keep each Registration Statement effective for the Effectiveness Period and as may be necessary to comply
with the provisions of the Securities Act with respect to the disposition of all Registrable Securities covered by such Registration
Statement;

 

(b)
if a prospectus supplement will be used in connection with the marketing of an Underwritten Offering and the Managing Underwriter(s)
notifies the Company in writing that, in the sole judgment of such Managing Underwriter(s), inclusion of detailed information in such
prospectus supplement is of material importance to the success of the Underwritten Offering of such Registrable Securities, use its commercially
reasonable efforts to include such information in such prospectus supplement;

 

(c)
furnish to the Holder (i) as far in advance as reasonably practicable before filing a Registration Statement or any supplement or
amendment thereto, upon request, copies of reasonably complete drafts of all such documents proposed to be filed (including exhibits
and each document incorporated by reference therein to the extent then required by the rules and regulations of the Commission), and
provide the Holder the opportunity to object to any information pertaining to the Holder and its plan of distribution that is contained
therein and make the corrections reasonably requested by the Holder with respect to such information prior to filing a Registration Statement
or supplement or amendment thereto, and (ii) such number of copies of such Registration Statement and the prospectus included therein
and any supplements and amendments thereto as such Persons may reasonably request in order to facilitate the public sale or other disposition
of the Registrable Securities covered by such Registration Statement;

 

(d)
if applicable, use its commercially reasonable efforts to register or qualify the Registrable Securities covered by a Registration Statement
under the securities or blue sky laws of such jurisdictions as the Holder or, in the case of an Underwritten Offering, the Managing Underwriter(s),
shall reasonably request; provided, however, that the Company will not be required to qualify generally to transact business in
any jurisdiction where it is not then required to so qualify or to take any action that would subject it to general service of process
in any jurisdiction where it is not then so subject;

 

    5

     

    

(e)
promptly notify the Holder and each underwriter, at any time when a prospectus is required to be delivered under the Securities Act,
of (i) the filing of a Registration Statement or any prospectus or prospectus supplement to be used in connection therewith, or
any amendment or supplement thereto, and, with respect to such Registration Statement or any post-effective amendment thereto, when the
same has become effective; and (ii) any written comments from the Commission with respect to any filing referred to in clause (i) and
any written request by the Commission for amendments or supplements to a Registration Statement or any prospectus or prospectus supplement
thereto;

 

(f)
immediately notify the Holder and each underwriter, at any time when a prospectus is required to be delivered under the Securities Act,
of (i) the happening of any event as a result of which the prospectus or prospectus supplement contained in a Registration Statement,
as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein
or necessary in order to make the statements therein not misleading (in the case of the prospectus contained therein, in the light of
the circumstances under which a statement is made); (ii) the issuance or threat of issuance by the Commission of any stop order suspending
the effectiveness of a Registration Statement, or the initiation of any proceedings for that purpose; or (iii) the receipt by the
Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the applicable
securities or blue sky laws of any jurisdiction. Following the provision of such notice, the Company agrees to, as promptly as practicable,
amend or supplement the prospectus or prospectus supplement or take other appropriate action so that the prospectus or prospectus supplement
does not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in
order to make the statements therein not misleading in the light of the circumstances then existing and to take such other commercially
reasonable action as is necessary to remove a stop order, suspension, threat thereof or proceedings related thereto;

 

(g)
upon request and subject to appropriate confidentiality obligations, furnish to the Holder copies of any and all transmittal letters
or other correspondence with the Commission or any other governmental agency or self-regulatory body or other body having jurisdiction
(including any domestic or foreign securities exchange) relating to any offering of Registrable Securities;

 

(h)
in the case of an Underwritten Offering, furnish upon request, (i) an opinion of counsel for the Company dated the date of the closing
under the underwriting agreement and (ii) a “cold comfort” letter, dated the pricing date of such Underwritten Offering
(to the extent available) and a letter of like kind dated the date of the closing under the underwriting agreement, in each case, signed
by the independent public accountants who have certified the Company’s financial statements included or incorporated by reference
into the applicable registration statement, and each such opinion and “cold comfort” letter shall be in customary form and
covering substantially the same matters with respect to such registration statement (and the prospectus and any prospectus supplement
included therein) as have been customarily covered in opinions of issuer’s counsel and in accountants’ letters delivered
to the underwriters in Underwritten Offerings of securities by the Company or its predecessors and such other matters as such underwriters
and the Holder may reasonably request;

 

(i)
otherwise use its commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, and make available
to its security holders, as soon as reasonably practicable, an earnings statement, which earnings statement shall satisfy the provisions
of Section 11(a) of the Securities Act and Rule 158 promulgated thereunder;

 

(j)
make available to the appropriate representatives of the Managing Underwriter(s) and the Holder access to such information and Company
personnel as is reasonable and customary to enable such parties to establish a due diligence defense under the Securities Act;

 

(k)
cause all Registrable Securities registered pursuant to this Agreement to be listed on each securities exchange or nationally recognized
quotation system on which similar securities issued by the Company are then listed;

 

(l)
use its commercially reasonable efforts to cause the Registrable Securities to be registered with or approved by such other governmental
agencies or authorities as may be necessary by virtue of the business and operations of the Company to enable the Holder to consummate
the disposition of the Registrable Securities;

 

    6

     

    

(m)
provide a transfer agent and registrar for all Registrable Securities covered by a Registration Statement not later than the effective
date of such registration statement; and

 

(n)
enter into customary agreements and take such other actions as are reasonably requested by the Holder or the underwriters, if any, in
order to expedite or facilitate the disposition of the Registrable Securities.

 

Except
to the extent required by applicable law, the Company shall not file any Registration Statement with respect to any Registrable Securities,
or any prospectus used in connection therewith, and shall not file or make any amendment to any such Registration Statement or any amendment
of or supplement to any such prospectus, that refers to the Holder covered thereby by name, or otherwise identifies the Holder as the
holder of any securities of the Company, without the consent of the Holder, such consent not to be unreasonably withheld, conditioned
or delayed, unless and to the extent such disclosure is required by law or regulation, in which case the Company shall provide written
notice to the Holder no less than two (2) Business Days prior to the filing of such Registration Statement or any amendment to any
such Registration Statement or any prospectus used in connection therewith or any amendment of or supplement to any such Prospectus.

 

The
Holder, upon receipt of notice from the Company of the happening of any event of the kind described in subsection (f) of this Section
2.5, shall forthwith discontinue disposition of the Registrable Securities by means of a prospectus or prospectus supplement
until the Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by subsection (f) of this Section
2.5 or until it is advised in writing by the Company that the use of the prospectus may be resumed, and has received copies of
any additional or supplemental filings incorporated by reference in the prospectus.

 

Section
2.6 Cooperation by Holder. The Company shall have no obligation to include in a Registration Statement, or in an Underwritten
Offering pursuant to Section 2.2(a), Registrable Securities of the Holder, if the Holder has failed to timely furnish
such information that, in the opinion of counsel to the Company, is reasonably required in order for the registration statement or
prospectus supplement, as applicable, to comply with the Securities Act.

 

Section
2.7 Expenses.

 

(a)
The Company will pay all reasonable Registration Expenses, including in the case of an Underwritten Offering, regardless of whether any
sale is made in such Underwritten Offering. The Holder shall pay all Selling Expenses in connection with any sale of its Registrable
Securities hereunder

 

(b)
In connection with each Underwritten Offering, the Company shall reimburse the Holder for the reasonable fees and disbursements of one
counsel chosen by the Holder and reasonable disbursements of each additional counsel reasonably retained by the Holder for the purpose
of rendering a legal opinion to the underwriter(s) on behalf of the Holder in connection with any Underwritten Offering.

 

Section
2.8 Indemnification.

 

(a)
By the Company. In the event of a registration of any Registrable Securities under the Securities Act pursuant to this Agreement,
the Company will indemnify and hold harmless the Holder, its directors, officers, employees and agents, and each Person, if any, who
controls the Holder within the meaning of the Securities Act and the Securities Exchange Act of 1934, as amended, and the rules and regulations
promulgated thereunder (the “Exchange Act”), and its directors, officers, employees or agents, against any losses,
claims, damages, expenses or liabilities (including reasonable attorneys’ fees and expenses) (collectively, “Losses”),
joint or several, to which the Holder, director, officer, employee, agent or controlling Person thereof may become subject under the
Securities Act, the Exchange Act or otherwise, insofar as such Losses (or actions or proceedings, whether commenced or threatened, in
respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact (in the case of
any prospectus or any Written Testing-the-Waters Communication, in the light of the circumstances under which such statement is made)
contained in any Written Testing-the-Waters Communication, a Registration Statement, any preliminary prospectus or prospectus supplement,
free writing prospectus or final prospectus or prospectus supplement contained therein, or any amendment or supplement thereof, or arise
out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary
to make the statements therein (in the case of a prospectus or any Written Testing-the-Waters Communication, in the light of the circumstances
under which they were made) not misleading, and will reimburse the Holder, its directors, officers, employees and agents, and each such
controlling Person, for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such
Loss or actions or proceedings as such expenses are incurred; provided, however, that the Company will not be liable in any such
case if and to the extent that any such Loss arises out of or is based upon an untrue statement or alleged untrue statement or omission
or alleged omission so made in conformity with information furnished by the Holder, its directors, officers, employees and agents or
such controlling Person in writing specifically for use in any Written Testing-the-Waters Communication, a Registration Statement, any
preliminary prospectus or prospectus supplement, free writing prospectus or final prospectus or prospectus supplement contained therein,
or any amendment or supplement thereto, as applicable. Such indemnity shall remain in full force and effect regardless of any investigation
made by or on behalf of the Holder or any such directors, officers, employees agents or controlling Person, and shall survive the transfer
of such securities by the Holder.

 

    7

     

    

(b)
By the Holder. The Holder agrees to indemnify and hold harmless the Company, its directors, officers, employees and agents and
each Person, if any, who controls the Company within the meaning of the Securities Act or of the Exchange Act, and its directors, officers,
employees and agents, to the same extent as the foregoing indemnity from the Company to the Holder, but only with respect to information
regarding the Holder furnished in writing by or on behalf of the Holder expressly for inclusion in any Written Testing-the-Waters Communication,
a Registration Statement, any preliminary prospectus or prospectus supplement, free writing prospectus or final prospectus or prospectus
supplement contained therein, or any amendment or supplement thereof.

 

(c)
Notice. Promptly after receipt by the indemnified party hereunder of notice of the commencement of any action, the indemnified
party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing
thereof, but the omission to so notify the indemnifying party shall not relieve the indemnifying party from any liability that it may
have to any indemnified party. In any action brought against any indemnified party, the indemnified party shall notify the indemnifying
party of the commencement thereof. The indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume
and undertake the defense thereof with counsel reasonably satisfactory to the indemnified party and, after notice from the indemnifying
party to the indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable
to the indemnified party under this Section 2.8 for any legal expenses subsequently incurred by the indemnified party in
connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected; provided,
however, that, (i) if the indemnifying party has failed to assume the defense or employ counsel reasonably acceptable to the
indemnified party or (ii) if the defendants in any such action include both the indemnified party and the indemnifying party and
counsel to the indemnified party shall have concluded that there may be reasonable defenses available to the indemnified party that are
different from or additional to those available to the indemnifying party, or if the interests of the indemnified party reasonably may
be deemed to conflict with the interests of the indemnifying party, then the indemnified party shall have the right to select a separate
counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the reasonable expenses and
fees of such separate counsel and other reasonable expenses related to such participation to be reimbursed by the indemnifying party
as incurred. Notwithstanding any other provision of this Agreement, no indemnified party shall settle any action brought against it with
respect to which it is entitled to indemnification hereunder without the consent of the indemnifying party, unless the settlement thereof
imposes no liability or obligation on, and includes a complete and unconditional release from all liability of, the indemnifying party.

 

(d)
Contribution. If the indemnification provided for in this Section 2.8 is held by a court or government agency of competent
jurisdiction to be unavailable to the indemnified party or is insufficient to hold them harmless in respect of any Losses, then the indemnifying
party, in lieu of indemnifying the indemnified party, shall contribute to the amount paid or payable by the indemnified party as a result
of such Loss in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and of the
indemnified party on the other in connection with the statements or omissions that resulted in such Losses, as well as any other relevant
equitable considerations. The relative fault of the indemnifying party on the one hand and the indemnified party on the other 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 has been made by, or relates to, information supplied by such party, and the parties’
relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The parties hereto
agree that it would not be just and equitable if contributions pursuant to this paragraph were to be determined by pro rata allocation
or by any other method of allocation that does not take account of the equitable considerations referred to herein. The amount paid by
the indemnified party as a result of the Losses referred to in the first sentence of this paragraph shall be deemed to include any legal
and other expenses reasonably incurred by such indemnified party in connection with investigating or defending any Loss that is the subject
of this paragraph. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act)
shall be entitled to contribution from any Person who is not guilty of fraudulent misrepresentation.

 

    8

     

    

(e)
Other Indemnification. The provisions of this Section 2.8 shall be in addition to any other rights to indemnification
or contribution that an indemnified party may have pursuant to law, equity, contract or otherwise.

 

Section
2.9 Rule 144 Reporting. With a view to making available the benefits of certain rules and regulations of the Commission that
may permit the sale of the Registrable Securities to the public without registration, the Company agrees to use its commercially
reasonable efforts to:

 

(a)
make and keep public information regarding the Company available, as those terms are understood and defined in Rule 144 under the Securities
Act, at all times from and after the date hereof;

 

(b)
file with the Commission in a timely manner all reports and other documents required of the Company under the Exchange Act at all times
from and after the date hereof; and

 

(c)
so long as the Holder owns any Registrable Securities, unless otherwise available via the Commission’s EDGAR system, furnish to
the Holder forthwith upon request a copy of the most recent annual or quarterly report of the Company, and such other reports and documents
so filed as the Holder may reasonably request in availing itself of any rule or regulation of the Commission allowing the Holder to sell
any such securities without registration.

 

Section
2.10 Transfer or Assignment of Registration Rights. The rights to cause the Company to register Registrable Securities
granted to the Holder by the Company under this Article II may be transferred or assigned by the Holder to one or more
transferee(s) or assignee(s) of such Registrable Securities; provided, however, that (a) unless such transferee or
assignee is an Affiliate of Acuitas, each such transferee or assignee holds Registrable Securities representing at least five
percent (5%) of the then-outstanding Registrable Securities (subject to adjustment pursuant to Section 3.4), (b) the
Company is given written notice prior to any said transfer or assignment, stating the name and address of each such transferee and
identifying the Registrable Securities with respect to which such registration rights are being transferred or assigned, and
(c) each such transferee agrees to be bound by this Agreement.

 

Section
2.11 Restrictions on Public Sale by the Holder of Registrable Securities. In connection with an Underwritten Offering, if
requested by the Managing Underwriter(s), the Holder agrees to enter into a customary letter agreement with such underwriters
providing that the Holder will not effect any public sale or distribution of the Registrable Securities during the 90 calendar day
period beginning on the date of a prospectus or prospectus supplement filed by the Company with the Commission with respect to the
pricing of such Underwritten Offering (the “Holdback Period”), provided that (i) the duration of the
foregoing restrictions shall be no longer than the duration of the shortest restriction generally imposed by the underwriters on the
Company or the officers, directors or any other stockholder of the Company on whom a restriction is imposed and (ii) the
restrictions set forth in this Section 2.11 shall not apply to any Registrable Securities that are included in such
Underwritten Offering by the Holder. If any registration pursuant to Section 2.1 shall be in connection with any Underwritten
Offering, during the Holdback Period, the Company will not effect any public sale or distribution of any shares of Common Stock (or
any securities convertible into or exchangeable or exercisable for shares of Common Stock) (other than a registration statement (x)
on Form S 4, Form S 8 or any successor forms thereto or (y) filed solely in connection with an exchange offer or any employee
benefit or dividend reinvestment plan) for its own account.

 

    9

     

    

ARTICLE
III 

MISCELLANEOUS

 

Section
3.1 Communications. All notices and other communications provided for or permitted hereunder shall be made in writing by facsimile,
electronic mail, courier service or personal delivery:

 

		(a)	If
to the Company:

 

BioVie
Inc.

2120
Colorado Avenue, Suite 230

Santa
Monica, CA 90404

Attention:
Corporate Secretary

 

		(b)	If
to the Holder:

 

Acuitas
Group Holdings, LLC

2120
Colorado Avenue, Suite 230

Santa
Monica, CA 90404

Attention:
Chairman

 

All
such notices and communications shall be deemed to have been received at the time delivered by hand, if personally delivered; when receipt
acknowledged, if sent via facsimile or sent via electronic mail; and when actually received, if sent by courier service or any other
means.

 

Section
3.2 Successor and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and assigns of
each of the Parties, including subsequent holders of Registrable Securities to the extent permitted herein.

 

Section
3.3 Assignment of Rights. All or any portion of the rights and obligations of the Holder under this Agreement may be
transferred or assigned by the Holder in accordance with Section 2.10 hereof.

 

Section
3.4 Recapitalization, Exchanges, Etc. Affecting the Registrable Securities. The provisions of this Agreement shall apply to
the full extent set forth herein with respect to any and all securities of the Company, its subsidiaries, or any successor or assign
of the Company or its subsidiaries (whether by merger, consolidation, sale of assets or otherwise) that may be issued in respect of,
in exchange for or in substitution of, the Registrable Securities, and shall be appropriately adjusted for combinations, splits,
recapitalizations, pro rata distributions and the like occurring after the date of this Agreement.

 

Section
3.5 Specific Performance. Damages in the event of a breach of this Agreement by a party hereto may be difficult, if not
impossible, to ascertain, and it is therefore agreed that each party, in addition to and without limiting any other remedy or right
it may have, will have the right to an injunction or other equitable relief in any court of competent jurisdiction, enjoining any
such breach, and enforcing specifically the terms and provisions hereof, and each of the parties hereto hereby waives any and all
defenses it may have on the ground of lack of jurisdiction or competence of the court to grant such an injunction or other equitable
relief. The existence of this right will not preclude any such party from pursuing any other rights and remedies at law or in equity
that such party may have.

 

Section
3.6 Counterparts. This Agreement may be executed in any number of counterparts with the same effect as if all Parties had
signed the same document. All counterparts shall be construed together and shall constitute one and the same instrument. The
delivery of an executed counterpart copy of this Agreement by facsimile or electronic transmission in PDF format shall be deemed to
be the equivalent of delivery of the originally executed copy thereof.

 

Section
3.7 Headings. The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect
the meaning hereof.

 

    10

     

    

Section
3.8 Governing Law. The laws of the State of Delaware shall govern this Agreement.

 

Section
3.9 Severability of Provisions. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction
shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the
remaining provisions hereof or affecting or impairing the validity or enforceability of such provision in any other
jurisdiction.

 

Section
3.10 Scope of Agreement. This Agreement is intended by the Parties as a final expression of their agreement and intended to
be a complete and exclusive statement of the agreement and understanding of the Parties hereto in respect of the subject matter
contained herein. There are no restrictions, promises, warranties or undertakings, other than those set forth or referred to herein
with respect to the rights granted by the Company set forth herein. This Agreement supersedes all prior agreements and
understandings between the Parties with respect to such subject matter.

 

Section
3.11 Amendment. This Agreement may be amended only by means of a written amendment signed by the Company and the Holder or
any subsequent holder of a majority of the then-outstanding Registrable Securities.

 

Section
3.12 Termination. This Agreement shall terminate at such time as there are no Registrable Securities outstanding.

 

Section
3.13 No Presumption. If any claim is made by a party relating to any conflict, omission, or ambiguity in this Agreement, no
presumption or burden of proof or persuasion shall be implied by virtue of the fact that this Agreement was prepared by or at the
request of a particular party or its counsel.

 

Section
3.14 Aggregation of Registrable Securities. All Registrable Securities held or acquired by Persons who are Affiliates of one
another shall be aggregated together for the purpose of determining the availability of any rights under this Agreement.

 

Section
3.15 Obligations Limited to Parties to Agreement. Each of the parties hereto covenants, agrees and acknowledges that no
Person other than the Company and the Holder shall have any obligation hereunder and that, notwithstanding that the Holder may be a
corporation, partnership or limited liability company, no recourse under this Agreement or under any documents or instruments
delivered in connection herewith or therewith shall be had against any former, current or future director, officer, employee, agent,
general or limited partner, manager, member, stockholder or Affiliate of the Holder or any former, current or future director,
officer, employee, agent, general or limited partner, manager, member, stockholder or Affiliate of any of the foregoing, whether by
the enforcement of any assessment or by any legal or equitable proceeding, or by virtue of any applicable law, it being expressly
agreed and acknowledged that no personal liability whatsoever shall attach to, be imposed on or otherwise be incurred by any former,
current or future director, officer, employee, agent, general or limited partner, manager, member, stockholder or Affiliate of the
Holder or any former, current or future director, officer, employee, agent, general or limited partner, manager, member, stockholder
or Affiliate of any of the foregoing, as such, for any obligations of the Holder under this Agreement or any documents or
instruments delivered in connection herewith or therewith or for any claim based on, in respect of or by reason of such obligation
or its creation, except in each case for any assignee of the Holder hereunder.

 

Section
3.16 Interpretation. All references to “Articles” and “Sections” shall be deemed to be references to
Articles and Sections of this Agreement, unless otherwise specified. All references to instruments, documents, contracts and
agreements are references to such instruments, documents, contracts and agreements as the same may be amended, supplemented and
otherwise modified from time to time, unless otherwise specified. The word “including” shall mean “including but
not limited to.” Whenever any determination, consent or approval is to be made or given by the Holder under this Agreement,
such action shall be in the Holder’s sole discretion unless otherwise specified.

 

[Signature
page follows]

 

    11

     

    

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

 

	 	ACUITAS
    GROUP HOLDINGS, LLC
	 	 	 
	 	By:	       
	 	Name:	Terren
    S. Peizer
	 	Title:	Chairman

 

	 	BIOVIE
    INC.
	 	 	 
	 	By:	      
	 	Name:	Cuong
    V. Do
	 	Title:	President
    and CEO

 

 

[Signature Page to Registration Rights Agreement]

 

    12

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