Document:

EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 

REGISTRATION RIGHTS AGREEMENT 

THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”), dated as of November 1, 2021, is by and among Vertiv
Holdings Co, a Delaware corporation (the “Company”), each of the Holders listed on Schedule A attached hereto (the “Initial Holders”), and the other Holders from time to time parties hereto.

 RECITALS: 
 WHEREAS,
this Agreement is being entered into pursuant to the Sale and Purchase Agreement, dated as of September 8, 2021, by and among Vertiv Holdings Ireland DAC, a private company limited by shares incorporated in Ireland (registered no. 702477),
having its registered office at 70 Sir John Rogerson’s Quay, Dublin 2, Ireland; Vertiv International Holding Corporation, an Ohio corporation; the Company; and the Sellers (as may be amended from time to time, the “Purchase
Agreement”); 
 WHEREAS, in connection with the closing of the transactions contemplated by the Purchase Agreement, on the date
hereof the Company is issuing to the Initial Holders shares of Company Common Stock in an amount calculated in accordance with clause 3.2.1 of the Purchase Agreement (such shares of Company Common Stock, the “Shares”) in the
aggregate; and 
 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 are hereby acknowledged by each party hereto, the parties hereby agree as follows: 

ARTICLE I. 
 DEFINITIONS

 As used herein, the following terms shall have the following respective meanings: 

“Adoption Agreement” means an Adoption Agreement in the form attached hereto as Exhibit A. 

“Affiliate” means (a) as to any Person, other than an individual, any other Person who directly, or indirectly
through one or more intermediaries, controls, is controlled by or is under common control with such Person and (b) as to any individual, (i) any Relative of such individual, (ii) any trust whose primary beneficiaries are one or more
of such individual and such individual’s Relatives, (iii) the legal representative or guardian of such individual or any of such individual’s Relatives if one has been appointed and (iv) any Person controlled by one or more of
such individual or any Person referred to in clauses (i), (ii) or (iii) above. As used in this definition, the term “control,” including the correlative terms “controlling,” “controlled by” and “under common
control with,” means possession, directly or indirectly, of the power to direct or cause the direction of management or policies (whether through ownership of securities or any partnership or other ownership interest, by contract or otherwise)
of a Person. For purposes of this Agreement, (x) the Company, on the one hand, and the Holders, on the other hand, shall not be considered Affiliates and (y) no Holder shall be considered an Affiliate of any other Holder by reason of
holding any shares of Company Common Stock. 

 “Agreement” has the meaning set forth in the introductory paragraph.

 “Board” means the board of directors of the Company. 

“Business Day” means any day other than a Saturday, Sunday, any federal holiday or any other day on which banking
institutions in the State of Ohio or the State of New York are authorized or required to be closed by law or governmental action. 

“Commission” means the Securities and Exchange Commission or any successor governmental agency. 

“Company” has the meaning set forth in the introductory paragraph. 

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

“Company Securities” has the meaning set forth in Section 2.4(c)(i). 

“Demand Notice Response Period” has the meaning set forth in Section 2.2(b). 

“Effectiveness Period” has the meaning set forth in Section 2.1(c). 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, or any successor federal statute, and the rules
and regulations of the Commission thereunder, all as the same shall be in effect at the time. 
 “Holder” means any
record holder of Registrable Securities. 
 “Holder Designee” means Damian McCauley. 

“Indemnified Party” has the meaning set forth in Section 3.3. 

“Indemnifying Party” has the meaning set forth in Section 3.3. 

“Losses” has the meaning set forth in Section 3.1. 

“Majority Holders” means, at any time, the Holder or Holders of more than 50% of the Registrable Securities at such
time. 
 “Managing Underwriter” means, with respect to any Underwritten Offering, the lead book-running manager(s)
of such Underwritten Offering. 
 “Minimum Number of Registrable Securities” means the number of Registrable
Securities for which a total offering price would reasonably be expected to exceed, in the aggregate, $10 million. 
 “Opt-Out Notice” has the meaning set forth in Section 2.11. 

“Other Securities” has the meaning set forth in Section 2.4(c)(i). 

  
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 “Permitted Transferee” means (a) with respect to any Initial
Holder, a Transferee that is any direct or indirect partner, shareholder or member of such Initial Holder; or any trust, family partnership or family limited liability company, the sole beneficiaries, partners or members of which are such Initial
Holder or Relatives of such Initial Holder; (b) a Transferee that is an Affiliate of a Holder; and (c) any other Person to whom a Holder is permitted, subject to Section 2.8, to transfer Registrable Securities;
provided that, in each case, subject to Section 5.2, such Transferee has delivered to the Company a duly executed Adoption Agreement. 

“Person” means any individual, corporation, partnership, limited liability company, firm, association, trust,
government, governmental agency or other entity, whether acting in an individual, fiduciary or other capacity. 
 “Piggybacking
Holder” has the meaning set forth in Section 2.4(a). 
 “Piggyback Notice”
has the meaning set forth in Section 2.4(a). 
 “Piggyback Notice Response Period” has the
meaning set forth in Section 2.4(a). 
 “Piggyback Underwritten Offering” has the meaning
set forth in Section 2.4(a). 
 “Purchase Agreement” has the meaning set forth in the
recitals. 
 “Registrable Securities” means, as of any date of determination, (a) the Shares and (b) any
securities issued or issuable (whether upon the conversion or exercise of any other security or otherwise) with respect to, or in exchange for or in substitution for, the Shares (whether by way of a stock dividend, split, reverse split, combination,
distribution or in connection with any reorganization or other reclassification or recapitalization, merger, consolidation or otherwise); provided, however, that a Registrable Security shall cease to be a Registrable Security when (i) a
Registration Statement covering such Registrable Security has become effective under the Securities Act and such Registrable Security has been disposed of pursuant to such Registration Statement, (ii) such Registrable Security is disposed of in
compliance with Rule 144 under the Securities Act or any other exemption from the registration requirements of the Securities Act as a result of which the legend on any certificate or book-entry notation representing such Registrable Security
restricting transfer of such Registrable Security has been removed, or (iii) such Registrable Security has been sold or disposed of in a transaction in which the Transferor’s rights under this Agreement are not assigned to the Transferee
pursuant to Section 5.2; and provided, further, that any security that has ceased to be a Registrable Security shall not thereafter become a Registrable Security and any security that is issued or distributed in
respect of securities that have ceased to be Registrable Securities shall not be a Registrable Security. 
 “Registration
Expenses” means all expenses incurred in connection with the registration and disposition of Registrable Securities, including, without limitation, all registration and filing fees, printing expenses, road show expenses, fees and
disbursements of counsel and independent public accountants for the Company, fees and expenses (including, without limitation, reasonable counsel fees and disbursements) in connection with complying with state securities or “blue sky”
laws, fees of the Financial Industry Regulatory Authority, Inc., fees of any national securities exchange on which the Shares are then listed, and fees of transfer agents and registrars, but excluding any Selling Expenses. 

  
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 “Registration Statement” means any registration statement of the
Company filed or to be filed with the Commission under the Securities Act, including the related prospectus, amendments and supplements to such registration statement, and including pre- and post-effective
amendments, and all exhibits and all material incorporated by reference in such registration statement. 

“Relative” means, with respect to any natural person: (a) such natural person’s spouse, (b) any lineal
descendant, parent, grandparent, great grandparent or sibling or any lineal descendant of such sibling (in each case whether by blood or legal adoption), and (c) the spouse of a natural person described in clause (b) of this definition.

 “Requesting Holder” means any Holder or group of Holders that makes a Shelf Underwritten Offering Request. From
the Completion Date (as defined under the Purchase Agreement) until the earlier of (i) December 31, 2023 and (ii) such time that this Agreement terminates with respect to the Holder Designee, the Holder Designee shall be the only
Person that can be a Requesting Holder. 
 “Requesting Holder and Shelf Piggybacking Holders Securities” has the
meaning set forth in Section 2.2(c)(i). 
 “Section 2.2 Maximum Number
of Shares” has the meaning set forth in Section 2.2(c). 

“Section 2.4 Maximum Number of Shares” has the meaning set forth in
Section 2.4(c). 
 “Securities Act” means the Securities Act of 1933, as amended, or any
successor federal statute, and the rules and regulations of the Commission thereunder, all as the same shall be in effect at the time. References to any rule under the Securities Act shall be deemed to refer to any similar or successor rule or
regulation. 
 “Sellers” means the Persons listed in Schedule 2 to the Purchase Agreement. 

“Selling Expenses” means all (a) underwriting fees, discounts and selling commissions allocable to the sale of
Registrable Securities, (b) transfer taxes allocable to the sale of the Registrable Securities, if any, and (c) related fees and expenses of counsel engaged by any Holders (subject to Article III). 

“Selling Holder” means a Holder selling Registrable Securities pursuant to a Registration Statement. 

“Shares” has the meaning set forth in the recitals. 

“Shelf Piggybacking Holder” has the meaning set forth in Section 2.2(b). 

“Shelf Registration Statement” has the meaning set forth in Section 2.1(a). 

“Shelf Underwritten Offering” has the meaning set forth in Section 2.2(a). 

“Shelf Underwritten Offering Request” has the meaning set forth in Section 2.2(a). 

  
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 “Suspension Period” has the meaning set forth in
Section 2.3. 
 “Transfer” means any offer, sale, pledge, encumbrance, hypothecation,
entry into any contract to sell, grant of an option to purchase, short sale, assignment, transfer, exchange, gift, bequest or other disposition, direct or indirect, in whole or in part, by operation of law or otherwise. “Transfer,” when
used as a verb, and “Transferee” and “Transferor” have correlative meanings. 
 “Underwritten
Offering” means an offering (including an offering pursuant to a Shelf Registration Statement) in which shares of Company Common Stock are sold to an underwriter on a firm commitment basis for reoffering to the public. 

“Underwritten Offering Filing” means (a) with respect to a Shelf Underwritten Offering, a preliminary prospectus
supplement (or prospectus supplement if no preliminary prospectus supplement is used) to the Shelf Registration Statement relating to such Shelf Underwritten Offering, and (b) with respect to a Piggyback Underwritten Offering, (i) a
preliminary prospectus supplement (or prospectus supplement if no preliminary prospectus supplement is used) to an effective shelf Registration Statement (other than the Shelf Registration Statement) in which Registrable Securities could be included
and Holders could be named as selling security holders without the filing of a post-effective amendment thereto (other than a post-effective amendment that becomes effective upon filing) or (ii) a Registration Statement (other than the Shelf
Registration Statement), in each case relating to such Piggyback Underwritten Offering. 
 “WKSI” means a well-known
seasoned issuer (as defined in Rule 405 under the Securities Act). 
 ARTICLE II. 

REGISTRATION RIGHTS 

Section 2.1 Shelf Registration. 

(a) The Company shall, as soon as practicable after the date hereof, but in any event within 15 Business Days after the date hereof, file a
Registration Statement, or amend an existing shelf registration previously filed by the Company (provided that such amendment becomes effective upon filing with the Commission) (the “Shelf Registration Statement”),
under the Securities Act to permit, subject to Sections 2.6(b) and 2.8 hereof, the public resale of all the Registrable Securities by the Holders from time to time as permitted by Rule 415 under the Securities Act
(or any successor or similar rule adopted by the Commission then in effect) and shall use commercially reasonable efforts to cause such Registration Statement to become or be declared effective as soon as practicable after the filing thereof,
including by filing an automatic shelf registration statement that becomes effective upon filing with the Commission in accordance with Rule 462(e) under the Securities Act to the extent the Company is then a WKSI. Following the effective date of
the Shelf Registration Statement, the Company shall promptly notify the Holders of the effectiveness of such Registration Statement. 

  
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 (b) The Shelf Registration Statement shall be on Form
S-3 or, if Form S-3 is not then available to the Company, on Form S-1 or such other form of registration statement as is then
available to effect a registration for resale of such Registrable Securities and shall contain a prospectus in such form as to permit, subject to Sections 2.6(b) and 2.8 hereof, any Holder to sell such Registrable
Securities pursuant to Rule 415 under the Securities Act (or any successor or similar rule adopted by the Commission then in effect) at any time beginning on the effective date for such Registration Statement. The Shelf Registration Statement shall
provide for the resale pursuant to any method or combination of methods legally available to the Holders and requested by the Majority Holders. 

(c) The Company shall use commercially reasonable efforts to cause the Shelf Registration Statement to remain effective, and to be
supplemented and amended to the extent necessary to ensure that the Shelf Registration Statement is available or, if not available, that another Registration Statement is available, for the resale of all the Registrable Securities by the Holders
until all of the Registrable Securities have ceased to be Registrable Securities or the earlier termination of this Agreement (as to all Holders) pursuant to Section 6.1 (the “Effectiveness Period”).

 (d) When effective, (i) the Shelf Registration Statement (including, for the avoidance of doubt, all exhibits and all material
incorporated therein by reference) will comply as to form in all material respects with all applicable requirements of the Securities Act and the Exchange Act and will 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 and (ii) in the case of any prospectus contained in the Shelf Registration Statement, such prospectus will not include any untrue statement of a
material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which such statements are made, not misleading. 

Section 2.2 Underwritten Shelf Offering Requests. 

(a) Subject to Sections 2.3 and 2.8, at any time and from time to time when an effective Shelf Registration Statement is on file
with the Commission, in the event that any Holder or group of Holders elects to dispose of Registrable Securities under a Registration Statement pursuant to an Underwritten Offering and reasonably expects gross proceeds of at least $100 million
from such Underwritten Offering (including proceeds attributable to any Registrable Securities included in such Underwritten Offering by any Shelf Piggybacking Holders), the Company shall, at the request (a “Shelf Underwritten Offering
Request”) of the Requesting Holder, enter into an underwriting agreement in a form as is customary in Underwritten Offerings of securities by the Company with the underwriter or underwriters selected pursuant to
Section 2.2(d) and shall take all such other reasonable actions as are requested by the Managing Underwriter of such Underwritten Offering and/or the Requesting Holders in order to expedite or facilitate the disposition of
such Registrable Securities and, subject to Section 2.2(c), the Registrable Securities requested to be included by any Shelf Piggybacking Holder (a “Shelf Underwritten Offering”); provided,
however, that the Company shall have no obligation to facilitate or participate in more than two Shelf Underwritten Offerings during any 12-month period. 

  
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 (b) If the Company receives a Shelf Underwritten Offering Request, it will give written
notice of such proposed Shelf Underwritten Offering to each Holder (other than the Requesting Holder) that, together with such Holder’s Affiliates, holds at least the Minimum Number of Registrable Securities, which notice shall be held in
strict confidence by such Holders and shall include the anticipated filing date of the related Underwritten Offering Filing and, if known, the number of shares of Company Common Stock that are proposed to be included in such Shelf Underwritten
Offering, and of such Holders’ rights under this Section 2.2(b). Such notice (a “Holder Demand Notice”) shall be given promptly (and in any event at least ten calendar days before the filing of
the Underwritten Offering Filing or two Business Days before the filing of the Underwritten Offering Filing in connection with a bought or overnight Underwritten Offering); provided that if the Shelf Underwritten Offering is a bought or
overnight Underwritten Offering and the Managing Underwriter advises the Company and the Requesting Holder in writing that the giving of notice pursuant to this Section 2.2(b) would adversely affect the offering, no such
notice shall be required (and such Holders shall have no right to include Registrable Securities in such bought or overnight Underwritten Offering); provided further that the Company shall not so notify any such other Holder that has notified
the Company (and not revoked such notice) requesting that such Holder not receive notice from the Company of any proposed Shelf Underwritten Offering. Each such Holder shall then have five calendar days (or one Business Day in the case of a bought
or overnight Underwritten Offering) after the date on which the Holders received notice pursuant to this Section 2.2(b) (the “Demand Notice Response Period”) to request inclusion of Registrable
Securities in the Shelf Underwritten Offering (which request shall specify the maximum number of Registrable Securities intended to be disposed of by such Holder and such other information as is reasonably required to effect the inclusion of such
Registrable Securities) (any such Holder making such request, a “Shelf Piggybacking Holder”). If no request for inclusion from a Holder is received within the Demand Notice Response Period, such Holder shall have no further
right to participate in such Shelf Underwritten Offering. 
 (c) If the Managing Underwriter of the Shelf Underwritten Offering shall inform
the Company and the Requesting Holders in writing, with a copy to be provided upon request to any Shelf Piggybacking Holder, of its good faith belief that the number of Registrable Securities requested to be included in such Shelf Underwritten
Offering by the Shelf Piggybacking Holders (and any other shares of Company Common Stock requested to be included by any other Persons having registration rights with respect to such offering), when added to the number of Registrable Securities
proposed to be offered by the Requesting Holders, would materially adversely affect such offering, then the Company shall include in the applicable Underwritten Offering Filing, to the extent of the total number of Registrable Securities that the
Company is so advised can be sold in such Shelf Underwritten Offering without so materially adversely affecting such offering (the “Section 2.2 Maximum Number of Shares”), Registrable
Securities in the following priority: 
 (i) First, all Registrable Securities that the Requesting Holder and Shelf
Piggybacking Holders requested to be included therein (the “Requesting Holder and Shelf Piggybacking Holders Securities”) (pro rata among the Requesting Holders and Shelf Piggybacking Holders based on the number of
Registrable Securities each requested to be included); and 

  
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 (ii) Second, to the extent that the number of Requesting Holder and Shelf
Piggybacking Holders Securities is less than the Section 2.2 Maximum Number of Shares, the shares of Company Common Stock requested to be included by any other Persons having registration rights with respect to such offering, pro rata
among such other Persons based on the number of shares of Company Common Stock each requested to be included. 
 (d) The Company shall
propose two or more nationally prominent firms of investment bankers to act as the Managing Underwriter or as other underwriters in connection with such Shelf Underwritten Offering from which the holders of more than 50% of the Registrable
Securities to be so offered shall select the Managing Underwriter and the other underwriters. The Requesting Holders shall determine the pricing of the Registrable Securities offered pursuant to any Shelf Underwritten Offering and the applicable
underwriting discounts and commissions and determine the timing of any such Shelf Underwritten Offering, subject to Section 2.3. 

Section 2.3 Delay and Suspension Rights. Notwithstanding any other provision of this Agreement, the Company may, upon giving
prompt written notice to the Holders, (a) delay filing or effectiveness of a Shelf Registration Statement (or any amendment thereto) or effecting a Shelf Underwritten Offering or (b) suspend the Holders’ use of any prospectus that is
a part of a Shelf Registration Statement upon written notice to each Holder whose Registrable Securities are included in such Shelf Registration Statement (provided that, in no event shall such notice contain any material non-public information regarding the Company) (in which event such Holder shall discontinue sales of Registrable Securities pursuant to such Registration Statement but may settle any then-contracted sales of
Registrable Securities), in each case if the Board determines in good faith to be necessary for the reason that (i) such delay or suspension is in the best interest of the Company and its stockholders generally due to a pending financing or
other material transaction involving the Company, including a proposed sale of shares of Company Common Stock pursuant to a registration of Company Securities, (ii) such registration or offering would render the Company unable to comply with
applicable securities laws or (iii) such registration offering would require disclosure of material information that the Company has a bona fide business purpose for preserving as confidential (any such period, a “Suspension
Period”); provided, however, that in no event shall the Company effect Suspension Periods of more than an aggregate of ninety (90) days in any twelve-month period. For the purposes of calculating the number of days of one or
more Suspension Periods under this Section 2.3, such number shall include any number of days during the applicable period during which the Holders were obligated to discontinue their disposition of Registrable Securities
pursuant to Section 2.6(b) of this Agreement. 
 Section 2.4 Piggyback Registration Rights. 

(a) Subject to Section 2.4(c), at any time and from time to time when an effective Shelf Registration Statement is
on file with the Commission, if the Company at any time proposes to file an Underwritten Offering Filing for an Underwritten Offering of shares of Company Common Stock for its own account or for the account of any other Persons who have or have been
granted registration rights (a “Piggyback Underwritten Offering”), it will give written notice of such Piggyback Underwritten Offering to each Holder that, together with such Holder’s Affiliates, holds at least the
Minimum Number of Registrable Securities, which notice shall be held in strict confidence by such Holders and shall include the anticipated filing date of the Underwritten Offering Filing and, if known, the number of shares of Company Common

  
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Stock that are proposed to be included in such Piggyback Underwritten Offering, and of such Holders’ rights under this Section 2.4(a). Such notice shall be given
promptly (and in any event at least ten calendar days before the filing of the Underwritten Offering Filing or two Business Days before the filing of the Underwritten Offering Filing in connection with a bought or overnight Underwritten Offering) (a
“Piggyback Notice”); provided, that if the Piggyback Underwritten Offering is a bought or overnight Underwritten Offering and the Managing Underwriter advises the Company in good faith that the giving of notice
pursuant to this Section 2.4(a) would adversely affect the offering, no such notice shall be required (and such Holders shall have no right to include Registrable Securities in such bought or overnight Underwritten
Offering). Each such Holder shall then have five calendar days (or one Business Day in the case of a bought or overnight Underwritten Offering) after the date on which the Holders received notice (the “Piggyback Notice Response
Period”) pursuant to this Section 2.4(a) to request, subject to Section 2.8, inclusion of Registrable Securities in the Piggyback Underwritten Offering (which request shall specify the
maximum number of Registrable Securities intended to be disposed of by such Holder and such other information as is reasonably required to effect the inclusion of such Registrable Securities) (any such Holder making such request, a
“Piggybacking Holder”). If no request for inclusion from a Holder is received within the Piggyback Notice Response Period, such Holder shall have no further right to participate in such Piggyback Underwritten Offering.
Subject to Section 2.4(c), the Company shall, and shall cause the Managing Underwriter or underwriters of such Piggyback Underwritten Offering to, use its commercially reasonable efforts to include in the Piggyback
Underwritten Offering all Registrable Securities that the Company has been so requested to include by the Piggybacking Holders on the same terms and conditions as any similar securities of the Company included in such offering and to permit the sale
or other disposition of such Registrable Securities in accordance with the intended method(s) of distribution thereof; provided, however, that if, at any time after giving written notice of a proposed Piggyback Underwritten Offering pursuant
to this Section 2.4(a) and prior to the execution of an underwriting agreement with respect thereto, the Company or such other Persons who have or have been granted registration rights, as applicable, shall determine for
any reason not to proceed with or to delay such Piggyback Underwritten Offering, the Company shall promptly give written notice of such determination to the Piggybacking Holders (which such Holders will hold in strict confidence) and (i) in the
case of a determination not to proceed, shall be relieved of its obligation to include any Registrable Securities in such Piggyback Underwritten Offering (but not from any obligation of the Company to pay the Registration Expenses in connection
therewith), and (ii) in the case of a determination to delay, shall be permitted to delay inclusion of any Registrable Securities for the same period as the delay in including the shares of Company Common Stock to be sold for the Company’s
account or for the account of such other Persons who have or have been granted registration rights, as applicable. 
 (b) Each Holder shall
have the right to withdraw its request for inclusion of its Registrable Securities in any Piggyback Underwritten Offering at any time prior to the public commencement of such Piggyback Underwritten Offering with respect thereto by giving an Opt-Out Notice to the Company requesting that such Holder not receive notice from the Company of any proposed Piggyback Underwritten Offering; provided, however, that such Holder may later revoke any such Opt-Out Notice in writing; provided further, however, that if the Company has provided a Piggyback Notice at the time a Holder revokes its Opt-Out Notice,
such revocation shall not extend the Piggyback Notice Response Period. Following receipt of an Opt-Out Notice from a Holder (unless subsequently revoked), the Company shall not, and shall not be required to,
deliver any notice to such Holder pursuant to this Section 2.4 and such Holder shall no longer be entitled to participate in any Piggyback Underwritten Offering. 

  
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 (c) If the Managing Underwriter of the Piggyback Underwritten Offering shall inform the
Company of its good faith belief that the number of Registrable Securities requested to be included in such Piggyback Underwritten Offering, when added to the number of shares of Company Common Stock proposed to be offered by the Company or such
other Persons who have or have been granted registration rights (and any other shares of Company Common Stock requested to be included by any other Persons having registration rights on parity with the Piggybacking Holders with respect to such
offering), would materially adversely affect such offering, then the Company shall include in such Piggyback Underwritten Offering, to the extent of the total number of securities which the Company is so advised can be sold in such offering without
so materially adversely affecting such offering (the “Section 2.4 Maximum Number of Shares”), shares of Company Common Stock in the following priority: 

(i) First, if the Piggyback Underwritten Offering is for the account of the Company, all shares of Company Common Stock that
the Company proposes to include for its own account (the “Company Securities”); and 
 (ii) Second,
if (1) the Piggyback Underwritten Offering is for the account of the Company, to the extent that the number of Company Securities is less than the Section 2.4 Maximum Number of Shares, or (2) the Piggyback Underwritten Offering is for
the account of any other Persons who have or have been granted registration rights, in each case, the shares of Company Common Stock requested to be included by the Piggybacking Holders and holders of any other shares of Company Common Stock
requested to be included by Persons having rights of registration on parity with the Piggybacking Holders with respect to such offering, pro rata among the Piggybacking Holders and such other holders based on the number of shares of Company
Common Stock each requested to be included; provided, however, that if any other shares of Company Common Stock are requested to be included by Persons that have been granted rights of registration under the Amended and Restated
Registration Rights Agreement, dated as of February 7, 2020, by and among the Company, the Sponsor Members, the Director Holders, the Vertiv Holder, the GS ESC PIPE Investor, the Cote PIPE Investor, the Other Cote Holders (each as defined
therein), then such other shares will have priority over the shares of Company Common Stock requested to be included by the Piggybacking Holders and holders of any other shares of Company Common Stock requested to be included by Persons having
rights of registration on parity with the Piggybacking Holders with respect to such offering. 
 (d) The Company or such other Persons who
have or have been granted registration rights, as applicable, shall select the underwriters in any Piggyback Underwritten Offering (in the case of such other Persons who have been granted registration rights under this Agreement, in the manner set
forth elsewhere in this Agreement) and shall determine the pricing of the shares of Company Common Stock offered pursuant to any Piggyback Underwritten Offering, the applicable underwriting discounts and commissions and the timing of any such
Piggyback Underwritten Offering. 

  
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 Section 2.5 Participation in Underwritten Offerings. 

(a) In connection with any Underwritten Offering contemplated by Sections 2.2 or 2.4, the underwriting agreement into which each
Selling Holder and the Company shall enter into shall contain such representations, covenants, indemnities (subject to Article III) and other rights and obligations as are customary in Underwritten Offerings of securities by the Company;
provided that the Company shall not be required to make any representations or warranties with respect to written information specifically provided by a Selling Holder for inclusion in the applicable Registration Statement. No Selling Holder
shall be required to make any representations or warranties to or agreements with the Company or the underwriters other than representations, warranties or agreements regarding such Selling Holder’s authority to enter into such underwriting
agreement and to sell, and its ownership of and title to, the securities being registered on its behalf, its intended method of distribution, that such Selling Holder’s decision to sell such securities is not influenced by the possession of any
material non-public information with respect to the Company and any other representation required by law or reasonably requested by the underwriters. 

(b) Any participation by Holders in a Piggyback Underwritten Offering shall be in accordance with the plan of distribution of the Company.

 (c) In connection with any Piggyback Underwritten Offering in which any Holder includes Registrable Securities pursuant to
Section 2.4, such Holder agrees to (i) supply any information reasonably requested in writing by the Company in connection with the preparation of a Registration Statement and/or any other documents relating to such
registered offering and (ii) execute and deliver any customary agreements and instruments being executed by all holders on substantially the same terms reasonably requested in writing by the Company or the Managing Underwriter, as applicable,
to effectuate such registered offering, including, without limitation, underwriting agreements (subject to Section 2.5(a)), custody agreements, “lock-up” or “hold
back” agreements pursuant to which such Holder agrees not to sell or purchase any securities of the Company for up to 90 days or, if shorter, for the same period of time following the registered offering as is agreed to by the Company and the
other participating holders (provided that nothing herein shall prevent any Holder from making a transfer to a Permitted Transferee thereof), powers of attorney and questionnaires. 

(d) If the Company or Managing Underwriter, as applicable, requests that the Holders take any of the actions referred to in
Section 2.5(c), the Holders shall take such action promptly but in any event within five (5) Business Days following the date of receipt of such request. 

Section 2.6 Registration Procedures. 

(a) In connection with its obligations under this Article II, the Company will: 

(i) promptly prepare and file with the Commission such amendments and supplements to such Registration Statement and the
prospectus used in connection therewith as may be necessary to keep such Registration Statement effective and to comply (including, for the avoidance of doubt, as contemplated in Section 2.1(d)) with the provisions of the
Securities Act with respect to the disposition of all securities covered by such Registration Statement until such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers
thereof set forth in such Registration Statement; 

  
 11 

 (ii) furnish to each Selling Holder such number of conformed copies of such
Registration Statement and of each such amendment and supplement thereto (in each case including without limitation all exhibits), such number of copies of the prospectus contained in such Registration Statement (including without limitation each
preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and such other documents, as such seller may reasonably request;

 (iii) if applicable, use commercially reasonable efforts to register or qualify all Registrable Securities and other
securities covered by such Registration Statement under such other securities or blue sky laws of such jurisdictions as each Selling Holder thereof shall reasonably request, to keep such registration or qualification in effect for so long as such
Registration Statement remains in effect, and to take any other action which may be reasonably necessary or advisable to enable such seller to consummate the disposition in such jurisdictions of the securities owned by such seller, except that the
Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (iii) be obligated to be so qualified or to consent
to general service of process in any such jurisdiction; 
 (iv) in connection with an Underwritten Offering, cause its
officers to use their commercially reasonable efforts to support the marketing of the Registrable Securities covered by such offering, including, without limitation, management presentations (including “electronic road shows” in the nature
of management presentations) or investor calls to the extent reasonably necessary to support the proposed sale of Registrable Securities pursuant to such offering; 

(v) in connection with an Underwritten Offering, use all commercially reasonable efforts to provide to each Selling Holder a
copy of any auditor “comfort” letters or customary legal opinions, in each case in form and substance as is customarily provided to underwriters in an underwritten public offering; 

(vi) cooperate with the Selling Holder(s), the underwriters or agents (if any), and their respective counsel in connection with
any filings required to be made by FINRA; 
 (vii) promptly notify each Selling Holder, at any time when a prospectus
relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such 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, in the light of the circumstances under which they were made, not misleading or incomplete, and at
the request of any such seller promptly prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such securities,
such prospectus shall 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, in the light of the circumstances under which they were
made, not misleading or incomplete; 

  
 12 

 (viii) 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 shall furnish to each such Selling Holder at least one (1) Business Day prior to the filing thereof a copy of any amendment or supplement to such Registration Statement or prospectus; 

(ix) provide and cause to be maintained a transfer agent and registrar for all Registrable Securities covered by such
Registration Statement from and after a date not later than the effective date of such Registration Statement; 
 (x) advise
each Selling Holder of such Registrable Securities, promptly after the Company receives notice or obtains knowledge thereof, of the issuance of any stop order by the Commission suspending the effectiveness of such Registration Statement or the
initiation or threatening of any proceeding for such purpose and promptly use its commercially reasonable efforts to prevent the issuance of any stop order or to obtain its withdrawal if such stop order should be issued; 

(xi) cause all Registrable Securities covered by such Registration Statement to be listed on any securities exchange on which
the Company Common Stock is then listed; 
 (xii) enter into and deliver such customary agreements and instruments and take
such other actions as the Selling Holder or Selling Holders shall reasonably request in order to expedite or facilitate the disposition of such Registrable Securities (including, without limitation, in the case of a Shelf Underwritten Offering or
Piggyback Underwritten Offering, to agree, and to cause its directors and “executive officers” (as defined under Section 16 of the Exchange Act) to agree, to such “lock-up”
arrangements for up to 90 days with the underwriters thereof to the extent reasonably requested by the Managing Underwriters, subject to exceptions for permitted sales by directors and executive officers during such period consistent with
underwritten offerings previously conducted by the Company); and 
 (xiii) without limiting the foregoing, otherwise in good
faith cooperate reasonably with, and take such customary actions as may reasonably be requested in writing by a Selling Holder, placement agent or sales agent (if any), and underwriters (if any), as applicable, to effect the registration and offer
and sale of the Registrable Securities as required by this Agreement. 

  
 13 

 (b) Each Holder agrees by acquisition of such Registrable Securities that upon receiving
notice pursuant to Section 2.6(a)(vii), such Holder will forthwith discontinue such Holder’s disposition of Registrable Securities pursuant to the Registration Statement until such Holder’s receipt of the copies
of the supplemented or amended prospectus contemplated by Section 2.6(a)(vii) as filed with the Commission or until it is advised in writing by the Company that the use of such Registration Statement may be resumed (such
period during which disposition is discontinued, an “Interruption Period”), and, if so directed by the Company, will use commercially reasonable efforts to deliver to the Company (at the Company’s expense) all copies,
other than permanent file copies, then in such Holder’s possession of the prospectus relating to such Registrable Securities current at the time of receipt of such notice. The Company may provide appropriate stop orders to enforce the
provisions of this Section 2.6(b). The Company will notify the Holders as soon as practicable after the Company has determined that the use of the applicable prospectus may be resumed. In the event that the Company invokes
an Interruption Period hereunder and the need to continue such Interruption Period ceases for any reason, as soon as practicable the Company shall notify (which notice shall be in accordance with Section 6.6) the Holders in writing that such
Interruption Period is no longer applicable. 
 Section 2.7 Cooperation by Holders. The Company shall have no obligation to
include Registrable Securities of a Holder in any Registration Statement or Underwritten Offering if such Holder has failed to timely furnish such information that the Company determines, after consultation with its counsel, is reasonably required
in order for any registration statement or prospectus supplement, as applicable, to comply with the Securities Act and that the Company has timely requested in writing from such Holder. 

Section 2.8 Restrictions on Public Sale by Holders. 

(a) Each Holder agrees that until the 12 month anniversary of the date hereof, it will not effect any public or private sale, distribution or
other transfer of Registrable Securities other than with respect to its pro rata share of Registrable Securities equal in number to one third of the number of Shares issued to the Sellers on the date of this agreement (or such other amount as
the parties mutually agree), pursuant to the terms hereof. 
 (b) In connection with any Underwritten Offering (except in the case of a
bought or overnight Underwritten Offering), if requested by the Managing Underwriter, each Holder that is the beneficial owner of more than 5.0% of the outstanding shares of Company Common Stock at such time, and any other Holder reasonably
requested by the Managing Underwriter, will agree not to, and will execute a customary lock-up agreement (in each case on substantially the same terms and conditions, including customary waiver “MFN”
provisions, as all requested holders that are each beneficial owners of more than 5.0% of the outstanding shares of Company Common Stock at such time) in favor of the Managing Underwriter to not, sell or dispose of any shares of Company Common Stock
(other than those included in such offering pursuant to this Agreement, and understanding that nothing herein shall prevent any Holder from making a transfer to an Affiliate thereof during such period), without the prior written consent of the
Company, for a period of up to 90 days (or such shorter time agreed to by the Managing Underwriter) beginning on the date of pricing of such Underwritten Offering, except as expressly permitted by such lock-up
agreement or in the event the Managing Underwriter otherwise agrees by written consent. 

  
 14 

 (c) Notwithstanding Sections 2.8(a) and (b), a Holder may
Transfer any or all if its Registrable Securities: (i) to any Permitted Transferee thereof; (ii) in the event of the Company’s liquidation, merger, capital stock exchange, reorganization or other similar transaction which results in
all of the Company’s stockholders having the right to exchange their shares of Company Common Stock for cash, securities or other property, or pursuant to a tender offer or exchange offer for equity securities of the Company made by a Person
who is not a Holder; or (iii) by distribution to partners, members or stockholders of such Holder, or to any Person that controls, is controlled by or is under common control with such Holder. 

Section 2.9 Expenses. The Company shall be responsible for all Registration Expenses. Each Selling Holder shall pay its pro rata
share of all Selling Expenses in connection with any sale of its Registrable Securities hereunder. 
 Section 2.10 Other
Registration Rights. From and after the date hereof, the Company shall not, without the prior written consent of the Majority Holders, enter into any agreement with any current or future holder of any securities of the Company that would allow
such current or future holder to require the Company to include securities in any registration statement filed by the Company for such Holders on a basis that is superior in any material respect to the piggyback rights of the Holders hereunder. 

Section 2.11 Opt-Out Notices. Any Holder may deliver written notice (an “Opt-Out Notice”) to the Company requesting that such Holder not receive notice from the Company of the proposed filing of any Shelf Underwritten Offering, Piggyback Underwritten Offering, the withdrawal
of any Shelf Underwritten Offering or Piggyback Underwritten Offering or any event that would lead to a Suspension Period as contemplated by Section 2.3; provided, however, that such Holder may later revoke
any such Opt-Out Notice in writing; provided, further, that if the Company has provided a Holder Demand Notice or a Piggyback Notice at the time a Holder revokes its Opt-Out Notice, such
revocation shall not extend the Demand Notice Response Period or the Piggyback Notice Response Period, as applicable. Following receipt of an Opt-Out Notice from a Holder (unless subsequently revoked), the
Company shall not deliver any notice to such Holder pursuant to Section 2.2, Section 2.3, Section 2.4, or Section 2.6, as applicable, and such
Holder shall no longer be entitled to the rights associated with any such notice and each time prior to a Holder’s intended use of an effective Registration Statement, such Holder will notify the Company in writing at least two Business Days in
advance of such intended use, and if a notice of a Suspension Period was previously delivered (or would have been delivered but for the provisions of this Section 2.11) and the Suspension Period remains in effect, the
Company will so notify such Holder, within one Business Day of such Holder’s notification to the Company, by delivering to such Holder a copy of such previous notice of such Suspension Period, and thereafter will provide such Holder with the
related notice of the conclusion of such Suspension Period immediately upon its availability. 

  
 15 

 ARTICLE III. 

INDEMNIFICATION AND CONTRIBUTION 

Section 3.1 Indemnification by the Company. The Company will indemnify and hold harmless each Selling Holder, its current and
former officers and directors, managers, employees, agents, Affiliates and each Person (if any) that controls such Holder within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, from and against any
and all losses, claims, damages, costs and expenses (including attorneys’ fees and any fees or expenses reasonably incurred in connection with any investigation or proceeding) and other liabilities, joint or several
(“Losses”), caused by, arising out of, resulting from or related to (i) any untrue statement or alleged untrue statement of a material fact (a) contained in any Registration Statement relating to the Registrable
Securities (as amended or supplemented if the Company shall have furnished any amendments or supplements thereto, and including, for the avoidance of doubt, all exhibits and all material incorporated therein by reference), or any omission or alleged
omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading or (b) included in any prospectus relating to the
Registrable Securities (as amended or supplemented if the Company shall have furnished any amendments or supplements thereto) or any preliminary prospectus, or any omission or alleged omission to state therein a material fact required to be stated
therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading, provided, however, that such indemnity shall not apply to that portion of such Losses caused by, or
arising out of, any untrue statement, or alleged untrue statement or any such omission or alleged omission, to the extent such statement or omission (or alleged statement or alleged omission) was made in reliance upon and in conformity with
information furnished in writing to the Company by such Holder or its authorized representatives expressly for use therein. 

Section 3.2 Indemnification by the Holders. Each Holder (if Registrable Securities held by such Holder are included in the
securities as to which registration or qualification or compliance under applicable “blue sky” laws is being effected) agrees to, severally and not jointly with any other Holders, indemnify and hold harmless the Company, its officers and
directors and each Person (if any) that controls the Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, from and against any and all Losses caused by, arising out of, resulting from or
related to any untrue statement or alleged untrue statement of a material fact (a) contained in any Registration Statement relating to Registrable Securities (as amended or supplemented if the Company shall have furnished any amendments or
supplements thereto), or any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading or
(b) included in any prospectus relating to the Registrable Securities (as amended or supplemented if the Company shall have furnished any amendments or supplements thereto) or any preliminary prospectus, or any omission or alleged omission to
state therein a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading, in each case of the foregoing clauses (a) and
(b) only to the extent such statement or omission (or alleged statement or alleged omission) was made in reliance upon and in conformity with information furnished in writing by such Holder or its authorized representatives expressly for use
therein; provided, however, that any indemnity payable by such Holder under this Section 3.2 shall be in proportion to, and in any case limited to an amount equal to, the net proceeds received by such Holder in
respect of the sale of the Registrable Securities giving rise to such indemnification obligation. 

  
 16 

 Section 3.3 Indemnification Procedures. In case any proceeding (including any
governmental investigation) shall be instituted involving any Person in respect of which indemnity may be sought pursuant to Section 3.1 or 3.2, such Person (the “Indemnified Party”) shall
promptly notify the Person against whom such indemnity may be sought (the “Indemnifying Party”) in writing (provided that the failure of the Indemnified Party to give notice as provided herein shall not relieve the
Indemnifying Party of its obligations under this Article III, except to the extent the Indemnifying Party is actually prejudiced by such failure to give notice), and the Indemnifying Party shall be entitled to participate in such proceeding
and, unless in the reasonable opinion of outside counsel to the Indemnified Party a conflict of interest between the Indemnified Party and Indemnifying Party may exist in respect of such claim, to assume the defense thereof jointly with any other
Indemnifying Party similarly notified, to the extent that it chooses, with counsel reasonably satisfactory to such Indemnified Party, and after notice from the Indemnifying Party to such Indemnified Party that it so chooses, the Indemnifying Party
shall not be liable to such Indemnified Party for any legal or other expenses subsequently incurred by such Indemnified Party in connection with the defense thereof other than reasonable costs of investigation; provided, however, that
(a) if the Indemnifying Party fails to assume the defense or employ counsel reasonably satisfactory to the Indemnified Party, (b) if such Indemnified Party who is a defendant in any action or proceeding which is also brought against the
Indemnifying Party reasonably shall have concluded that there may be one or more legal defenses available to such Indemnified Party which are not available to the Indemnifying Party or (c) if representation of both parties by the same counsel
is otherwise inappropriate under applicable standards of professional conduct then, in any such case, the Indemnified Party shall have the right to assume or continue its own defense as set forth above (but with no more than one firm of counsel for
all Indemnified Parties in each jurisdiction, except to the extent any Indemnified Party or Parties reasonably shall have concluded that there may be legal defenses available to such party or parties which are not available to the other Indemnified
Parties or to the extent representation of all Indemnified Parties by the same counsel is otherwise inappropriate under applicable standards of professional conduct) and the Indemnifying Party shall be liable for any expenses therefor. No
Indemnifying Party shall, without the written consent of the Indemnified Party, effect the settlement or compromise of, or consent to the entry of any judgment with respect to, any pending or threatened action or claim in respect of which
indemnification or contribution may be sought hereunder (whether or not the Indemnified Party is an actual or potential party to such action or claim) unless such settlement, compromise or judgment (i) includes an unconditional release of the
Indemnified Party from all liability arising out of such action or claim and (ii) does not include a statement as to, or an admission of, fault, culpability or a failure to act, by or on behalf of any Indemnified Party. 

Section 3.4 Survival. The indemnification provided for under this Agreement shall remain in full force and effect regardless of
any investigation made by or on behalf of the Indemnified Party, or any officer, director or controlling person of such Indemnified Party, and notwithstanding any provision in this Agreement to the contrary, shall survive any transfer of Registrable
Securities. 

  
 17 

 Section 3.5 Contribution. 

(a) If the indemnification provided for in this Article III is unavailable or insufficient to hold harmless an Indemnified Party in
respect of any Losses or action in respect of which indemnity is to be provided hereunder, then subject to the limitations contained in this Article III, each Indemnifying Party, in lieu of indemnifying such Indemnified Party hereunder, shall
to the fullest extent permitted by law contribute to the amount paid or payable by such Indemnified Party as a result of such Losses or action in such proportion as is appropriate to reflect the relative fault of such party in connection with the
statements, omissions or (if applicable) actions that resulted in such Losses or action, 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
hand) shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by such party and the
parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. 
 (b) The
Company and each Holder agree that it would not be just and equitable if contribution pursuant to this Article III were determined by pro rata allocation or by any other method of allocation that does not take account of the equitable
considerations referred to in Section 3.5(a). The amount paid or payable by an Indemnified Party as a result of the Losses or action referred to in Section 3.5(a) shall be deemed to include,
subject to the limitations set forth in this Article III, any legal or other expenses reasonably incurred by such Indemnified Party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this
Article III, no Holder shall be liable for indemnification or contribution pursuant to this Article III for any amount in excess of the net proceeds received by such Holder from the sale of the Registrable Securities sold in a
transaction that resulted in the Losses or action in respect of which indemnification or contribution is sought pursuant to this Article III, less the amount of any damages which such Holder has otherwise been required to pay by reason of
such untrue or alleged untrue statement or omission or alleged omission (including as a result of any indemnification obligation hereunder). 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 was not guilty of such fraudulent misrepresentation. 
 ARTICLE IV. 

RULE 144 
 Section 4.1
With a view to making available to the Holders the benefits of certain rules and regulations of the Commission that may permit the resale of the Registrable Securities 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 Securities Act and the Exchange Act at all times from and after the date hereof; and 

(c) so long as a Holder owns any Registrable Securities, furnish to such Holder (i) to the extent accurate, forthwith upon request, a
written statement of the Company that it has complied with the reporting requirements of Rule 144 under the Securities Act and of the Exchange Act and (ii) unless otherwise available via the Commission’s EDGAR filing system, forthwith upon
request a copy of the most recent annual or quarterly report of the Company, and such other reports and documents filed by the Company, as such Holder may reasonably request in availing itself of any rule or regulation of the Commission allowing
such Holder to sell any such securities without registration or pursuant to Form S-3, as applicable. 

  
 18 

 ARTICLE V. 

LEGENDS AND TRANSFER OF RIGHTS 

Section 5.1 Share Legend. 

(a) Each certificate or book-entry notation representing the Shares shall (unless otherwise permitted by the provisions of
Section 5.1(b)) bear a legend in substantially the following form: 
 THESE SHARES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED (THE “ACT”), OR UNDER ANY OTHER SECURITIES LAWS AND MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED, ASSIGNED, HYPOTHETICATED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF (I) AN EFFECTIVE REGISTRATION OF THE
SHARES UNDER THE SECURITIES ACT AND OTHER APPLICABLE SECURITIES LAWS, OR (II) AN OPINION OF COUNSEL, IN SUCH FORM AND BY SUCH COUNSEL SATISFACTORY TO VERTIV HOLDINGS CO AND ITS COUNSEL, THAT SUCH OFFER, SALE, TRANSFER, ASSIGNMENT, HYPOTHECATION
OR OTHER DISPOSITION IS EXEMPT FROM REGISTRATION AND THE PROSPECTUS DELIVERY REQUIREMENTS OF THE SECURITIES ACT AND OF ANY APPLICABLE SECURITIES LAWS. 

(b) The legend on any shares of Company Common Stock covered by this Agreement shall be removed if (i) such shares of Company Common
Stock are sold pursuant to an effective registration statement, (ii) a registration statement covering the resale of such shares of Company Common Stock is effective under the Securities Act and the applicable holder of such share of Company
Common Stock delivers to the Company a representation letter agreeing that such shares of Company Common Stock will be sold under such effective registration statement, (iii) if such shares of Company Common Stock may be sold by the holder
thereof free of restrictions pursuant to Rule 144(b) under the Securities Act or (iv) such shares of Company Common Stock are being sold, assigned or otherwise transferred pursuant to Rule 144 under the Securities Act; provided, that
with respect to clause (iii) or (iv) above, the holder of such shares of Company Common Stock has provided all necessary documentation and evidence (which may include an opinion of counsel) as may reasonably be required by the Company to
confirm that the legend may be removed under applicable securities law. The Company shall cooperate with the applicable holder of Company Common Stock covered by this Agreement to effect removal of the legend on such shares pursuant to this
Section 5.1(b) as soon as reasonably practicable after delivery of notice from such holder that the conditions to removal are satisfied (together with any documentation required to be delivered by such holder pursuant to
the immediately preceding sentence). The Company shall bear all direct costs and expenses associated with the removal of a legend pursuant to this Section 5.1(b); provided, that the applicable holder shall be
responsible for all legal fees and expenses of counsel incurred by such holder with respect to delivering the legal opinion to the Company contemplated in the legend. 

  
 19 

 Section 5.2 Transfer of Rights. The rights to registration and other rights
granted to a Holder under this Agreement may be assigned to a Transferee of Registrable Securities if (a) such Transferee is a Permitted Transferee or (b) such Transferee is acquiring at least the Minimum Number of Registrable Securities
and such Transferee has delivered to the Company a duly executed Adoption Agreement. 
 ARTICLE VI. 

MISCELLANEOUS 

Section 6.1 Termination. This Agreement shall terminate, and the parties shall have no further rights or obligations hereunder, as
to any Holder, on such earlier date on which both (i) such Holder, together with such Holder’s Affiliates, owns less than the Minimum Number of Registrable Securities and (ii) all Registrable Securities owned by such Holder and such
Holder’s Affiliates may be sold without restriction pursuant to Rule 144 under the Securities Act. 
 Section 6.2
Severability. If any provision of this Agreement shall be determined to be illegal and unenforceable by any court of law, the remaining provisions shall be severable and enforceable in accordance with their terms. 

Section 6.3 Governing Law; Waiver of Jury Trial. 

(a) This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to principles of
conflicts of laws that would direct the application of the laws of another jurisdiction. 
 (b) THE PARTIES HEREBY WAIVE TRIAL BY JURY IN
ANY ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT BY ANY PARTY AGAINST ANOTHER IN ANY MATTER WHATSOEVER ARISING OUT OF OR IN RELATION TO OR IN CONNECTION WITH THIS AGREEMENT. FURTHER, NOTHING HEREIN SHALL DIVEST A COURT OF COMPETENT JURISDICTION OF THE
RIGHT AND POWER TO GRANT A TEMPORARY RESTRAINING ORDER, TO GRANT TEMPORARY INJUNCTIVE RELIEF, OR TO COMPEL SPECIFIC PERFORMANCE OF ANY DECISION OF AN ARBITRAL TRIBUNAL MADE PURSUANT TO THIS PROVISION. 

Section 6.4 Adjustments Affecting Registrable Securities. The provisions of this Agreement shall apply to any and all shares of
capital stock of the Company or any successor or assignee of the Company (whether by merger, consolidation, sale of assets or otherwise) which may be issued in respect of, in exchange for or in substitution for Registrable Securities, by reason of
any stock dividend, split, reverse split, combination, distribution, recapitalization, reclassification, reorganization, merger, consolidation or otherwise in such a manner and with such appropriate adjustments as to reflect the intent and meaning
of the provisions hereof and so that the rights, privileges, duties and obligations hereunder shall continue with respect to the capital stock of the Company as so changed. 

  
 20 

 Section 6.5 Binding Effects; Benefits of Agreement. This Agreement shall be
binding upon and inure to the benefit of the Company and its successors and assigns and each Holder and its successors and assigns. Except as provided in Section 5.2, neither this Agreement nor any of the rights, benefits
or obligations hereunder may be assigned or transferred, by operation of law or otherwise, by any Holder without the prior written consent of the Company. 

Section 6.6 Notices. All notices or other communications which are required or permitted hereunder shall be in writing and shall
be deemed to have been given if (a) personally delivered, (b) sent by nationally recognized overnight courier, (c) sent by registered or certified mail, postage prepaid, return receipt requested, or (d) sent by email. Such
notices and other communications must be sent to the following addresses or email addresses: 
  

	 	(a)	 If to the Company, to: 

Vertiv Holdings Co 
 1050
Dearborn Dr. 
 Columbus, Ohio 43085 

Attention: Stephanie L. Gill 

Email: stephanie.gill@vertiv.com 

with copies (which shall not constitute notice) to: 

Latham & Watkins LLP 

811 Main Street, Suite 3700 

Houston, Texas 77002 A 

ttention: David J. Miller; Nick S. Dhesi 

Email: david.miller@lw.com; ramnik.dhesi@lw.com 

(b) If to an Initial Holder, to the address or email address of such Initial Holder as they appear opposite such Initial Holder’s name on
Schedule A attached hereto or such other address or email address as may be designated in writing by such Holder; and 
 (c) If to
any other Holders, to their respective addresses or email addresses set forth on the applicable Adoption Agreement; 
 or to such other address or email
address as the party to whom notice is to be given may have furnished to such other party in writing in accordance herewith. Any such communication shall be deemed to have been received (a) when delivered, if personally delivered, (b) the
next Business Day after delivery, if sent by nationally recognized, overnight courier, (c) on the third Business Day following the date on which the piece of mail containing such communication is posted, if sent by first-class mail or
(d) on the date sent, if sent by email during normal business hours of the recipient or on the next Business Day, if sent by email after normal business hours of the recipient. 

Section 6.7 Modification; Waiver. This Agreement may be amended, modified or supplemented only by a written instrument duly
executed by the Company and the Majority Holders, provided, however, that this Agreement may not be amended, modified or supplemented in a manner that is disproportionately adverse to the rights of a Holder under this Agreement as
compared to the other Holders without the prior written consent of such Holder. No course of dealing between the Company and the Holders (or any of them) or any delay in exercising any rights hereunder will operate as a waiver of any rights of any
party to this Agreement. The failure of any party to enforce any of the provisions of this Agreement will in no way be construed as a waiver of such provisions and will not affect the right of such party thereafter to enforce each and every
provision of this Agreement in accordance with its terms. 

  
 21 

 Section 6.8 Entire Agreement. Except as otherwise expressly provided herein,
this Agreement constitutes the entire agreement among the parties pertaining to the subject matter hereof and supersedes all prior and contemporaneous agreements and understandings of the parties in connection therewith. 

Section 6.9 Counterparts. This Agreement may be executed in any number of counterparts and may be executed and transmitted
electronically, and each such counterpart shall be deemed to be an original instrument, but all such counterparts taken together shall constitute but one agreement. 

[signature page follows] 

  
 22 

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

			
	VERTIV HOLDINGS CO
		
	By:	 	/s/ David J. Fallon
	Name:	 	David J. Fallon
	Title:	 	Chief Financial Officer

 SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT 

 
			
	POWERBAR LIMITED
		
	By:	 	/s/ Charis Vryonidou
	Name:	 	Charis Vryonidou
	Title:	 	Authorized Representative

 SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT 

 
			
	PHILIP O’DOHERTY
		
	By:	 	/s/ Philip O’Doherty
	Name:	 	Philip O’Doherty

 SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT 

 
			
	DAMIAN MCCAULEY
		
	By:	 	/s/ Damian McCauley
	Name:	 	Damian McCauley

 SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT 

 
			
	CATHAL MCLAUGHLIN
		
	By:	 	/s/ Cathal McLaughlin
	Name:	 	Cathal McLaughlin

 SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT 

 
			
	ADRIAN SHERIDAN
		
	By:	 	/s/ Adrian Sheridan
	Name:	 	Adrian Sheridan

 SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT 

 
			
	NICOLAS SEWARD
		
	By:	 	/s/ Nicolas Seward
	Name:	 	Nicolas Seward

 SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT 

 
			
	PAUL CONNOLLY
		
	By:	 	/s/ Paul Connolly
	Name:	 	Paul Connolly

 SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT 

 EXHIBIT A 

ADOPTION AGREEMENT 
 This Adoption
Agreement (“Adoption Agreement”) is executed by the undersigned transferee (“Transferee”) pursuant to the terms of the Registration Rights Agreement, dated as of [_____], 2021, among Vertiv Holdings
Co, a Delaware corporation (the “Company”), and the Holders party thereto (as amended from time to time, the “Registration Rights Agreement”). Terms used and not otherwise defined in this Adoption
Agreement have the meanings set forth in the Registration Rights Agreement. 
 By the execution of this Adoption Agreement, the Transferee agrees as
follows: 
  

	1.	 Acknowledgement. Transferee acknowledges that Transferee is acquiring certain shares of Company Common
Stock subject to the terms and conditions of the Registration Rights Agreement. 

  

	2.	 Agreement. Transferee (a) agrees that the shares of Company Common Stock acquired by Transferee
shall be bound by and subject to the terms of the Registration Rights Agreement, pursuant to the terms thereof, and (b) hereby adopts the Registration Rights Agreement with the same force and effect as if he, she or it were originally a party
thereto. 

  

	3.	 Notice. Any notice required as permitted by the Registration Rights Agreement shall be given to
Transferee at the address, number, or email listed below Transferee’s signature. 

  

	4.	 [Joinder. The spouse of the undersigned Transferee, if applicable, executes this Adoption Agreement to
acknowledge its fairness and that it is in such spouse’s best interest, and to bind such spouse’s community interest, if any, in the shares of Company Common Stock and other securities referred to above and in the Registration Rights
Agreement, to the terms of the Registration Rights Agreement.]1 

  

	
	Signature:
	
	   

	Address:
	Contact Person:
	Telephone Number:
	Email:

  

	1 	 Note to Draft: To be included when applicable.ex_300011.htm

Exhibit 4.1

 

NEITHER THIS SECURITY NOR THE SECURITIES INTO WHICH THIS SECURITY IS EXERCISABLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR UNDER ANY STATE SECURITIES OR BLUE SKY LAWS. THE SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE, AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. INVESTORS SHOULD BE AWARE THAT THEY MAY BE REQUIRED TO BEAR THE FINANCIAL RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF TIME. THIS SECURITY IS SUBJECT TO THE TRANSFER RESTRICTION SET FORTH HEREIN AND IN THE SECURITIES PURCHASE AGREEMENT, DATED OCTOBER 29, 2021, AS AMENDED FROM TIME TO TIME, COPIES OF WHICH ARE AVAILABLE WITH THE SECRETARY OF THE COMPANY. THIS SECURITY AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS SECURITY MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT WITH A REGISTERED BROKER-DEALER OR OTHER LOAN WITH A FINANCIAL INSTITUTION THAT IS AN “ACCREDITED INVESTOR” AS DEFINED IN RULE 501(A) UNDER THE SECURITIES ACT OR OTHER LOAN SECURED BY SUCH SECURITIES.

 

COMMON STOCK PURCHASE WARRANT

 

NOVABAY PHARMACEUTICALS, INC.

 

	Warrant Shares: [             ] 	Issue Date: [             ], 2021

 

THIS COMMON STOCK PURCHASE WARRANT (the “Warrant”) certifies that, for value received, [                         ] or its assigns (the “Holder”) is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after the date Stockholder Approval and Authorized Share Approval is received and effective (the “Initial Exercise Date”) and on or prior to 5:00 p.m. (New York City time) on the six (6) year anniversary of the Initial Exercise Date (the “Termination Date”) but not thereafter, to subscribe for and purchase from NovaBay Pharmaceuticals, Inc., a Delaware corporation (the “Company”), up to [             ] shares (as subject to adjustment hereunder, the “Warrant Shares”) of Common Stock. The purchase price of one share of Common Stock under this Warrant shall be equal to the Exercise Price, as defined in Section 2(b).

 

Section 1.         Definitions. Capitalized terms used and not otherwise defined herein shall have the meanings set forth in that certain Securities Purchase Agreement (the “Purchase Agreement”), dated October 29, 2021, among the Company and the purchasers signatory thereto.

 

 

 

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Section 2.         Exercise.

 

a)    Exercise of Warrant. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times on or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company of a duly executed facsimile copy or PDF copy submitted by e-mail (or e-mail attachment) of the Notice of Exercise in the form annexed hereto (the “Notice of Exercise”). Within the earlier of (i) two (2) Trading Days and (ii) the number of Trading Days comprising the Standard Settlement Period (as defined in Section 2(d)(i) herein) following the date of exercise as aforesaid, the Holder shall deliver the aggregate Exercise Price for the shares specified in the applicable Notice of Exercise by wire transfer or cashier’s check drawn on a United States bank, unless the cashless exercise procedure specified in Section 2(c) below is specified in the applicable Notice of Exercise. No ink-original Notice of Exercise shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice of Exercise be required. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company until the Holder has purchased all of the Warrant Shares available hereunder and the Warrant has been exercised in full, in which case, the Holder shall surrender this Warrant to the Company for cancellation within three (3) Trading Days of the date on which the final Notice of Exercise is delivered to the Company. Partial exercises of this Warrant resulting in purchases of a portion of the total number of Warrant Shares available hereunder shall have the effect of lowering the outstanding number of Warrant Shares purchasable hereunder in an amount equal to the applicable number of Warrant Shares purchased. The Holder and the Company shall maintain records showing the number of Warrant Shares purchased and the date of such purchases. The Company shall deliver any objection to any Notice of Exercise within one (1) Business Day of receipt of such notice. The Holder and any assignee, by acceptance of this Warrant, acknowledge and agree that, by reason of the provisions of this paragraph, following the purchase of a portion of the Warrant Shares hereunder, the number of Warrant Shares available for purchase hereunder at any given time may be less than the amount stated on the face hereof.

 

b)    Exercise Price. The exercise price per share of Common Stock under this Warrant shall be $0.53, subject to adjustment hereunder (the “Exercise Price”).

 

c)    Cashless Exercise. After the later of (x) the six month anniversary of the Closing Date and (y) the date Stockholder Approval and Authorized Share Approval is received and effective, there is no effective registration statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

 

(A) = as applicable: (i) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise if such Notice of Exercise is (1) both executed and delivered pursuant to Section 2(a) hereof on a day that is not a Trading Day or (2) both executed and delivered pursuant to Section 2(a) hereof on a Trading Day prior to the opening of “regular trading hours” (as defined in Rule 600(b) of Regulation NMS promulgated under the federal securities laws) on such Trading Day, (ii) at the option of the Holder, either (y) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise or (z) the Bid Price of the Common Stock on the principal Trading Market as reported by Bloomberg L.P. as of the time of the Holder’s execution of the applicable Notice of Exercise if such Notice of Exercise is executed during “regular trading hours” on a Trading Day and is delivered within two (2) hours thereafter (including until two (2) hours after the close of “regular trading hours” on a Trading Day) pursuant to Section 2(a) hereof or (iii) the VWAP on the date of the applicable Notice of Exercise if the date of such Notice of Exercise is a Trading Day and such Notice of Exercise is both executed and delivered pursuant to Section 2(a) hereof after the close of “regular trading hours” on such Trading Day;

 

(B) = the Exercise Price of this Warrant, as adjusted hereunder; and

 

(X) = the number of Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant if such exercise were by means of a cash exercise rather than a cashless exercise.

 

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If Warrant Shares are issued in such a cashless exercise, the parties acknowledge and agree that in accordance with Section 3(a)(9) of the Securities Act, the Warrant Shares shall take on the characteristics of the Warrants being exercised, and the holding period of the Warrant Shares being issued may be tacked on to the holding period of this Warrant.  The Company agrees not to take any position contrary to this Section 2(c).

 

“Bid Price” means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed or quoted on a Trading Market, the bid price of the Common Stock for the time in question (or the nearest preceding date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b)  if OTCQB or OTCQX is not a Trading Market, the volume weighted average price of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Stock are then reported on the Pink Open Market (or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per share of the Common Stock so reported, or (d) in all other cases, the fair market value of a share of Common Stock as determined by an independent appraiser selected in good faith by the Purchasers of a majority in interest of the Securities then outstanding and reasonably acceptable to the Company, the fees and expenses of which shall be paid by the Company.

 

“VWAP” means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed or quoted on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest preceding date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b)  if OTCQB or OTCQX is not a Trading Market, the volume weighted average price of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Stock are then reported on the Pink Open Market (or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per share of the Common Stock so reported, or (d) in all other cases, the fair market value of a share of Common Stock as determined by an independent appraiser selected in good faith by the Purchasers of a majority in interest of the Securities then outstanding and reasonably acceptable to the Company, the fees and expenses of which shall be paid by the Company.

 

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d)              Mechanics of Exercise.

 

i.    Delivery of Warrant Shares Upon Exercise. The Company shall cause the Warrant Shares purchased hereunder to be transmitted by the Transfer Agent to the Holder by crediting the account of the Holder’s or its designee’s balance account with The Depository Trust Company through its Deposit or Withdrawal at Custodian system (“DWAC”) if the Company is then a participant in such system and either (A) there is an effective registration statement permitting the issuance of the Warrant Shares to or resale of the Warrant Shares by the Holder or (B) the Warrant Shares are eligible for resale by the Holder without volume or manner-of-sale limitations pursuant to Rule 144 (assuming cashless exercise of the Warrants), and otherwise by physical delivery of a certificate, registered in the Company’s share register in the name of the Holder or its designee, for the number of Warrant Shares to which the Holder is entitled pursuant to such exercise to the address specified by the Holder in the Notice of Exercise by the date that is the earliest of (i) two (2) Trading Days after the delivery to the Company of the Notice of Exercise, (ii) one (1) Trading Day after delivery of the aggregate Exercise Price to the Company and (iii) the number of Trading Days comprising the Standard Settlement Period after the delivery to the Company of the Notice of Exercise (such date, the “Warrant Share Delivery Date”). Upon delivery of the Notice of Exercise, the Holder shall be deemed for all corporate purposes to have become the holder of record of the Warrant Shares with respect to which this Warrant has been exercised, irrespective of the date of delivery of the Warrant Shares, provided that payment of the aggregate Exercise Price (other than in the case of a cashless exercise) is received within the earlier of (i) two (2) Trading Days and (ii) the number of Trading Days comprising the Standard Settlement Period following delivery of the Notice of Exercise. If the Company fails for any reason to deliver to the Holder the Warrant Shares subject to a Notice of Exercise by the Warrant Share Delivery Date, the Company shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of Warrant Shares subject to such exercise (based on the VWAP of the Common Stock on the date of the applicable Notice of Exercise), $2.50 per Trading Day (increasing to $15 per Trading Day on the fifth Trading Day after such liquidated damages begin to accrue) for each Trading Day after such Warrant Share Delivery Date until such Warrant Shares are delivered or Holder rescinds such exercise. The Company agrees to maintain a transfer agent that is a participant in the FAST program so long as this Warrant remains outstanding and exercisable. As used herein, “Standard Settlement Period” means the standard settlement period, expressed in a number of Trading Days, on the Company’s primary Trading Market with respect to the Common Stock as in effect on the date of delivery of the Notice of Exercise.

 

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ii.    Delivery of New Warrants Upon Exercise. If this Warrant shall have been exercised in part, the Company shall, at the request of a Holder and upon surrender of this Warrant certificate, at the time of delivery of the Warrant Shares, deliver to the Holder a new Warrant evidencing the rights of the Holder to purchase the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall in all other respects be identical with this Warrant.

 

iii.    Rescission Rights. If the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares pursuant to Section 2(d)(i) by the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise.

 

iv.    Compensation for Buy-In on Failure to Timely Deliver Warrant Shares Upon Exercise. In addition to any other rights available to the Holder, if the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares in accordance with the provisions of Section 2(d)(i) above pursuant to an exercise on or before the Warrant Share Delivery Date, and if after such date the Holder is required by its broker to purchase (in an open market transaction or otherwise) or the Holder’s brokerage firm otherwise purchases, shares of Common Stock to deliver in satisfaction of a sale by the Holder of the Warrant Shares which the Holder anticipated receiving upon such exercise (a “Buy-In”), then the Company shall (A) pay in cash to the Holder the amount, if any, by which (x) the Holder’s total purchase price (including brokerage commissions, if any) for the shares of Common Stock so purchased exceeds (y) the amount obtained by multiplying (1) the number of Warrant Shares that the Company was required to deliver to the Holder (up to the number of shares of Common Stock required to be purchased by the Holder or its broker for the Buy-In) in connection with a valid exercise, and (2) the price at which the sell order giving rise to such purchase obligation was executed, and (B) at the option of the Holder, either reinstate the portion of the Warrant and equivalent number of Warrant Shares for which such exercise was not honored (in which case such exercise shall be deemed rescinded) or deliver to the Holder the number of shares of Common Stock that would have been issued had the Company timely complied with its exercise and delivery obligations hereunder. For example, if the Holder purchases Common Stock having a total purchase price of $11,000 to cover a Buy-In with respect to an attempted exercise of shares of Common Stock with an aggregate sale price giving rise to such purchase obligation of $10,000, under clause (A) of the immediately preceding sentence the Company shall be required to pay the Holder $1,000. The Holder shall provide the Company written notice indicating the amounts payable to the Holder in respect of the Buy-In and, upon request of the Company, evidence of the amount of such loss. Nothing herein shall limit a Holder’s right to pursue any other remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s failure to timely deliver shares of Common Stock upon exercise of the Warrant as required pursuant to the terms hereof.

 

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v.    No Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise of this Warrant. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise, the Company shall, at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the Exercise Price or round up to the next whole share.

 

vi.    Charges, Taxes and Expenses. Issuance of Warrant Shares shall be made without charge to the Holder for any issue or transfer tax or other incidental expense in respect of the issuance of such Warrant Shares, all of which taxes and expenses shall be paid by the Company, and such Warrant Shares shall be issued in the name of the Holder or in such name or names as may be directed by the Holder in the Notice of Exercise; provided, however, that in the event that Warrant Shares are to be issued in a name other than the name of the Holder, this Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed by the Holder and the Company shall have the right to require, as a condition thereto, the prior or contemporaneous payment of a sum sufficient to reimburse it for any transfer tax incidental thereto. The Company shall pay all Transfer Agent fees required for same-day processing of any Notice of Exercise and all fees to the Depository Trust Company (or another established clearing corporation performing similar functions) required for same-day electronic delivery of the Warrant Shares, in each case, to the extent available.

 

vii.    Closing of Books. The Company will not close its stockholder books or records in any manner which prevents the timely exercise of this Warrant, pursuant to the terms hereof.

 

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			e)

				
			Holder’s Exercise Limitations. The Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to exercise any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below).  For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its Attribution Parties shall include the number of shares of Common Stock issuable upon exercise of this Warrant with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (i) exercise of the remaining, nonexercised portion of this Warrant beneficially owned by the Holder or any of its Attribution Parties and (ii) exercise or conversion of the unexercised or nonconverted portion of any other securities of the Company (including, without limitation, any other Common Stock Equivalents) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Attribution Parties.  Except as set forth in the preceding sentence, for purposes of this Section 2(e), beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 2(e) applies, the determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder together with any Attribution Parties) and of which portion of this Warrant is exercisable up to the Beneficial Ownership Limitation shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s good faith determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder together with any Attribution Parties) and of which portion of this Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder, and the Company shall have no obligation to verify or confirm the accuracy of such determination and shall have no liability for exercises of the Warrant that are not in compliance with the Beneficial Ownership Limitation (other than as a result of a Holder’s reliance on the number of issued and outstanding shares of Common Stock pursuant to this Section 2(e)). For purposes of this Section 2(e), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be, (B) a more recent public announcement by the Company or (C) a more recent written notice by the Company or the Transfer Agent setting forth the number of shares of Common Stock outstanding.  Upon the written request of a Holder, the Company shall within one (1) Trading Day confirm orally and in writing to the Holder the number of shares of Common Stock then outstanding.  In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including this Warrant, by the Holder or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be [4.99/9.99]% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise of this Warrant. The Holder, upon prior written notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 2(e), provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 2(e) shall continue to apply. Any such increase or decrease in the Beneficial Ownership Limitation will apply only to the Holder and not to any other holder of Warrants. Any such increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 2(e) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant.

			

 

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Section 3.         Certain Adjustments.

 

a)    Stock Dividends and Splits. If the Company, at any time on or after the date of the Purchase Agreement and while this Warrant is outstanding: (i) pays a stock dividend or otherwise makes a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities payable in shares of Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company upon exercise of this Warrant), (ii) subdivides outstanding shares of Common Stock into a larger number of shares, (iii) combines (including by way of reverse stock split) outstanding shares of Common Stock into a smaller number of shares or (iv) issues by reclassification of shares of the Common Stock any shares of capital stock of the Company, then in each case the Exercise Price shall be multiplied by a fraction of which the numerator shall be the number of shares of Common Stock (excluding treasury shares, if any) outstanding immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding immediately after such event, and the number of shares issuable upon exercise of this Warrant shall be proportionately adjusted such that the aggregate Exercise Price of this Warrant shall remain unchanged. Any adjustment made pursuant to this Section 3(a) shall become effective immediately after the date such dividend or distribution occurs and shall become effective immediately after the effective date in the case of a subdivision, combination or re‐classification.

 

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b)    Subsequent Rights Offerings. In addition to any adjustments pursuant to Section 3(a) above, if at any time the Company grants, issues or sells any Common Stock Equivalents or rights to purchase stock, warrants, securities or other property pro rata to the record holders of any class of shares of Common Stock (the “Purchase Rights”), then the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights (provided, however, that, to the extent that the Holder’s right to participate in any such Purchase Right would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Purchase Right to such extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance for the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).

 

c)    Pro Rata Distributions. During such time as this Warrant is outstanding, if the Company shall declare or make any dividend or other distribution of its assets (or rights to acquire its assets) to holders of shares of Common Stock, by way of return of capital or otherwise (including, without limitation, any distribution of cash, stock or other securities, property or options by way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a “Distribution”), at any time after the issuance of this Warrant, then, in each such case, the Holder shall be entitled to participate in such Distribution to the same extent that the Holder would have participated therein if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date of which a record is taken for such Distribution, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the participation in such Distribution (provided, however, that, to the extent that the Holder's right to participate in any such Distribution would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Distribution to such extent (or in the beneficial ownership of any shares of Common Stock as a result of such Distribution to such extent) and the portion of such Distribution shall be held in abeyance for the benefit of the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).

 

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d)    Fundamental Transaction. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in one or more related transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company, directly or indirectly, effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially all of its assets in one or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange offer (whether by the Company or another Person) is completed pursuant to which holders of Common Stock are permitted to sell, tender or exchange their shares for other securities, cash or property and has been accepted by the holders of 50% or more of the outstanding Common Stock, (iv) the Company, directly or indirectly, in one or more related transactions effects any reclassification, reorganization or recapitalization of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted into or exchanged for other securities, cash or property, or (v) the Company, directly or indirectly, in one or more related transactions consummates a stock or share purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization, spin-off, merger or scheme of arrangement) with another Person or group of Persons whereby such other Person or group acquires more than 50% of the outstanding shares of Common Stock (not including any shares of Common Stock held by the other Person or other Persons making or party to, or associated or affiliated with the other Persons making or party to, such stock or share purchase agreement or other business combination) (each a “Fundamental Transaction”), then, upon any subsequent exercise of this Warrant, the Holder shall have the right to receive, for each Warrant Share that would have been issuable upon such exercise immediately prior to the occurrence of such Fundamental Transaction, at the option of the Holder (without regard to any limitation in Section 2(e) on the exercise of this Warrant), the number of shares of Common Stock of the successor or acquiring corporation or of the Company, if it is the surviving corporation, and any additional consideration (the “Alternate Consideration”) receivable as a result of such Fundamental Transaction by a holder of the number of shares of Common Stock for which this Warrant is exercisable immediately prior to such Fundamental Transaction (without regard to any limitation in Section 2(e) on the exercise of this Warrant). For purposes of any such exercise, the determination of the Exercise Price shall be appropriately adjusted to apply to such Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one share of Common Stock in such Fundamental Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration in a reasonable manner reflecting the relative value of any different components of the Alternate Consideration. If holders of Common Stock are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder shall be given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant following such Fundamental Transaction. Notwithstanding anything to the contrary, in the event of a Fundamental Transaction, the Company or any Successor Entity (as defined below) shall, at the Holder’s option, exercisable at any time concurrently with, or within thirty (30) days after, the consummation of the Fundamental Transaction (or, if later, the date of the public announcement of the applicable Fundamental Transaction), purchase this Warrant from the Holder by paying to the Holder an amount of cash equal to the Black Scholes Value (as defined below) of the remaining unexercised portion of this Warrant on the date of the consummation of such Fundamental Transaction; provided, however, that if the Fundamental Transaction is not within the Company’s control, including not approved by the Board of Directors, the Holder shall only be entitled to receive from the Company or any Successor Entity, the same type or form of consideration (and in the same proportion), as the Black Scholes Value of the unexercised portion of the Warrant, that is being offered and paid to the holders of Common Stock of the Company in connection with the Fundamental Transaction, whether that consideration be in the form of cash, stock or any combination thereof, or whether the holders of Common Stock are given the choice to receive from among alternative forms of consideration in connection with the Fundamental Transaction.  “Black Scholes Value” means the value of this Warrant based on the Black-Scholes Option Pricing Model obtained from the “OV” function on Bloomberg, L.P. (“Bloomberg”) determined as of the day of consummation of the applicable Fundamental Transaction for pricing purposes and reflecting (A) a risk-free interest rate corresponding to the U.S. Treasury rate for a period equal to the time between the date of the public announcement of the applicable Fundamental Transaction and the Termination Date, (B) an expected volatility equal to the greater of 100% and the 100 day volatility obtained from the HVT function on Bloomberg (determined utilizing a 365 day annualization factor) as of the Trading Day immediately following the public announcement of the applicable Fundamental Transaction, (C) the underlying price per share used in such calculation shall be the greater of (i) the sum of the price per share being offered in cash, if any, plus the value of any non-cash consideration, if any, being offered in such Fundamental Transaction and (ii) the greater of (x) the last VWAP immediately prior to the public announcement of such Fundamental Transaction and (y) the last VWAP immediately prior to the consummation of such Fundamental Transaction, (D) a remaining option time equal to the time between the date of the public announcement of the applicable Fundamental Transaction and the Termination Date, and (E) a zero cost of borrow. The payment of the Black Scholes Value will be made by wire transfer of immediately available funds within five Business Days of the Holder’s election (or, if later, on the effective date of the Fundamental Transaction). The Company shall cause any successor entity in a Fundamental Transaction in which the Company is not the survivor (the “Successor Entity”) to assume in writing all of the obligations of the Company under this Warrant and the other Transaction Documents in accordance with the provisions of this Section 3(d) pursuant to written agreements in form and substance reasonably satisfactory to the Holder and approved by the Holder (without unreasonable delay) prior to such Fundamental Transaction and shall, at the option of the Holder, deliver to the Holder in exchange for this Warrant a security of the Successor Entity evidenced by a written instrument substantially similar in form and substance to this Warrant which is exercisable for a corresponding number of shares of capital stock of such Successor Entity (or its parent entity) equivalent to the shares of Common Stock acquirable and receivable upon exercise of this Warrant (without regard to any limitations on the exercise of this Warrant) prior to such Fundamental Transaction, and with an exercise price which applies the exercise price hereunder to such shares of capital stock (but taking into account the relative value of the shares of Common Stock pursuant to such Fundamental Transaction and the value of such shares of capital stock, such number of shares of capital stock and such exercise price being for the purpose of protecting the economic value of this Warrant immediately prior to the consummation of such Fundamental Transaction), and which is reasonably satisfactory in form and substance to the Holder. Upon the occurrence of any such Fundamental Transaction, the Successor Entity shall succeed to, and be substituted for the Company (so that from and after the date of such Fundamental Transaction, the provisions of this Warrant and the other Transaction Documents referring to the “Company” shall refer instead to the Successor Entity), and the Successor Entity may exercise every right and power of the Company and shall assume all of the obligations of the Company under this Warrant and the other Transaction Documents with the same effect as if such Successor Entity had been named as the Company herein.

 

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e)    Calculations. All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be. For purposes of this Section 3, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall be the sum of the number of shares of Common Stock (excluding treasury shares, if any) issued and outstanding.

 

	 	
			f)

				
			Notice to Holder.

			

 

i.    Adjustment to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company shall promptly deliver to the Holder by facsimile or email a notice setting forth the Exercise Price after such adjustment and any resulting adjustment to the number of Warrant Shares and setting forth a brief statement of the facts requiring such adjustment.

 

ii.    Notice to Allow Exercise by Holder. If during the term in which the Warrant may be exercised (A) the Company shall declare a dividend (or any other distribution in whatever form) on the Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the Company shall authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or purchase any shares of capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall be required in connection with any reclassification of the Common Stock, any consolidation or merger to which the Company is a party, any sale or transfer of all or substantially all of the assets of the Company, or any compulsory share exchange whereby the Common Stock is converted into other securities, cash or property, or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, then, in each case, the Company shall cause to be delivered by facsimile or email to the Holder at its last facsimile number or email address as it shall appear upon the Warrant Register of the Company, at least 20 calendar days prior to the applicable record or effective date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose of such dividend, distribution, redemption, rights or warrants, or if a record is not to be taken, the date as of which the holders of the Common Stock of record to be entitled to such dividend, distributions, redemption, rights or warrants are to be determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer or share exchange is expected to become effective or close, and the date as of which it is expected that holders of the Common Stock of record shall be entitled to exchange their shares of the Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation, merger, sale, transfer or share exchange; provided that the failure to deliver such notice or any defect therein or in the delivery thereof shall not affect the validity of the corporate action required to be specified in such notice. To the extent that any notice provided in this Warrant constitutes, or contains, material, non-public information regarding the Company or any of the Subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K. The Holder shall remain entitled to exercise this Warrant during the period commencing on the date of such notice to the effective date of the event triggering such notice except as may otherwise be expressly set forth herein.

 

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Section 4.         Transfer of Warrant.

 

a)    Transferability. Subject to compliance with any applicable securities laws and the conditions set forth in Section 4(d) hereof and to the provisions of Section 4.1 of the Purchase Agreement, this Warrant and all rights hereunder (including, without limitation, any registration rights) are transferable, in whole or in part, upon surrender of this Warrant at the principal office of the Company or its designated agent, together with a written assignment of this Warrant substantially in the form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable upon the making of such transfer. Upon such surrender and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees, as applicable, and in the denomination or denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly be cancelled. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company unless the Holder has assigned this Warrant as provided herein, in which case, the Holder shall surrender this Warrant to the Company within three (3) Trading Days of the date on which the Holder delivers an assignment form (in the form attached hereto) to the Company assigning this Warrant. The Warrant, if properly assigned in accordance herewith, may be exercised by a new holder for the purchase of Warrant Shares without having a new Warrant issued.

 

b)    New Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by the Holder or its agent or attorney. Subject to compliance with Section 4(a), as to any transfer which may be involved in such division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall be dated the original Issue Date and shall be identical with this Warrant except as to the number of Warrant Shares issuable pursuant thereto.

 

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c)    Warrant Register. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose (the “Warrant Register”), in the name of the record Holder hereof from time to time. The Company may deem and treat the registered Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and for all other purposes, absent actual notice to the contrary.

 

d)    Transfer Restrictions. If, at the time of the surrender of this Warrant in connection with any transfer of this Warrant, the transfer of this Warrant shall not be either (i) registered pursuant to an effective registration statement under the Securities Act and under applicable state securities or blue sky laws or (ii) eligible for resale without volume or manner-of-sale restrictions or current public information requirements pursuant to Rule 144, the Company may require, as a condition of allowing such transfer, that the Holder or transferee of this Warrant, as the case may be, comply with the provisions of Section 5.7 of the Purchase Agreement.

 

e)    Representation by the Holder. The Holder, by the acceptance hereof, represents and warrants that it is acquiring this Warrant and, upon any exercise hereof, will acquire the Warrant Shares issuable upon such exercise, for its own account and not with a view to or for distributing or reselling such Warrant Shares or any part thereof in violation of the Securities Act or any applicable state securities law, except pursuant to sales registered or exempted under the Securities Act.

 

Section 5.         Miscellaneous.

 

a)    No Rights as Stockholder Until Exercise; No Settlement in Cash. This Warrant does not entitle the Holder to any voting rights, dividends or other rights as a stockholder of the Company prior to the exercise hereof as set forth in Section 2(d)(i), except as expressly set forth in Section 3. Without limiting any rights of a Holder to receive Warrant Shares on a “cashless exercise” pursuant to Section 2(c) or to receive cash payments pursuant to Section 2(d)(i) and Section 2(d)(iv) herein, in no event shall the Company be required to net cash settle an exercise of this Warrant.

 

b)    Loss, Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant Shares, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of the Warrant, shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate, if mutilated, the Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation, in lieu of such Warrant or stock certificate.

 

c)    Saturdays, Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or granted herein shall not be a Business Day, then, such action may be taken or such right may be exercised on the next succeeding Business Day.

 

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d)    Authorized Shares.

 

The Company covenants that following Stockholder Approval and Authorized Share Approval, and during the period the Warrant is outstanding, it will reserve from its authorized and unissued Common Stock a sufficient number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights under this Warrant. The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers who are charged with the duty of issuing the necessary Warrant Shares upon the exercise of the purchase rights under this Warrant. The Company will take all such reasonable action as may be necessary to assure that such Warrant Shares may be issued as provided herein without violation of any applicable law or regulation, or of any requirements of the Trading Market upon which the Common Stock may be listed. The Company covenants that all Warrant Shares which may be issued upon the exercise of the purchase rights represented by this Warrant will, upon exercise of the purchase rights represented by this Warrant and payment for such Warrant Shares in accordance herewith, be duly authorized, validly issued, fully paid and nonassessable and free from all taxes, liens and charges created by the Company in respect of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously with such issue).

 

Except and to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending its certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against impairment. Without limiting the generality of the foregoing, the Company will, so long as any of the Warrants are outstanding, (i) not increase the par value of any Warrant Shares above the amount payable therefor upon such exercise immediately prior to such increase in par value, (ii) take all such action as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant and (iii) use commercially reasonable efforts to obtain all such authorizations, exemptions or consents from any public regulatory body having jurisdiction thereof, as may be, necessary to enable the Company to perform its obligations under this Warrant.

 

Before taking any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or in the Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary from any public regulatory body or bodies having jurisdiction thereof.

 

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e)    Jurisdiction. All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be determined in accordance with the provisions of the Purchase Agreement.

 

f)    Restrictions. The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered and the Holder does not utilize cashless exercise, will have restrictions upon resale imposed by state and federal securities laws.

 

g)    Nonwaiver and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate as a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies. Without limiting any other provision of this Warrant or the Purchase Agreement, if the Company willfully and knowingly fails to comply with any provision of this Warrant, which results in any material damages to the Holder, the Company shall pay to the Holder such amounts as shall be sufficient to cover any costs and expenses including, but not limited to, reasonable attorneys’ fees, including those of appellate proceedings, incurred by the Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder.

 

h)    Notices. Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company shall be delivered in accordance with the notice provisions of the Purchase Agreement.

 

i)    Limitation of Liability. No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to purchase Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company or by creditors of the Company.

 

j)    Remedies. The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to assert the defense in any action for specific performance that a remedy at law would be adequate.

 

k)    Successors and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure to the benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted assigns of Holder. The provisions of this Warrant are intended to be for the benefit of any Holder from time to time of this Warrant and shall be enforceable by the Holder or holder of Warrant Shares.

 

l)    Amendment. This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company and the Holder.

 

15

 

 

m)    Severability. Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions of this Warrant.

 

n)    Headings. The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of this Warrant.

 

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

 

(Signature Page Follows)

 

 

16

 

 

IN WITNESS WHEREOF, the Company has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first above indicated.

 

 

	 	
			NOVABAY PHARMACEUTICALS, INC.

				 
	 	 	 
	 	 	 
	 	By:	
			 

				 
	 	 	Name: Justin Hall	 
	 	 	Title: Chief Executive Officer and General Counsel	 

 

17

 

 

NOTICE OF EXERCISE

 

TO:         NOVABAY PHARMACEUTICALS, INC.

 

(1)    The undersigned hereby elects to purchase                   Warrant Shares of the Company pursuant to the terms of the attached Warrant (only if exercised in full), and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes, if any.

 

(2)    Payment shall take the form (check applicable box):

 

[   ] in lawful money of the United States; or

 

[   ] if permitted the cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set forth in subsection 2(c), to exercise this Warrant with respect to the maximum number of Warrant Shares purchasable pursuant to the cashless exercise procedure set forth in subsection 2(c).

 

(3)    Please issue said Warrant Shares in the name of the undersigned or in such other name as is specified below:

 

                                                                       

 

 

The Warrant Shares shall be delivered to the following DWAC Account Number:

 

Broker Name:                                                                                                  

 

Broker DTC DWAC #:                                                                                   

 

Broker Contact:                                                                                              

 

Account #:                                                                                                      

 

(4) Accredited Investor. The undersigned is an “accredited investor” as defined in Regulation D promulgated under the Securities Act of 1933, as amended.

 

[SIGNATURE OF HOLDER]

 

Name of Investing Entity:                                                                                                       

Signature of Authorized Signatory of Investing Entity:                                                                              

Name of Authorized Signatory:                                                                                                                   

Title of Authorized Signatory:                                                                                                                     

Date:                                                                                                                                                             

 

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EXHIBIT B

 

ASSIGNMENT FORM

(To assign the foregoing Warrant, execute this form and supply required information. Do not use this form to purchase shares.)

 

FOR VALUE RECEIVED, the foregoing Warrant and all rights evidenced thereby are hereby assigned to

 

	
			Name:

				                                                                              
	 	
			(Please Print)

			
	
			Address:

				                                                                              
	
			

			

			Phone Number:

			 

			Email Address:

			 

				
			(Please Print)

			 

			                                                                              

			 

			                                                                              

			
	
			Dated:                                         ,               

				 
	
			Holder’s Signature:                                      

				 
	
			Holder’s Address:                                        

				 

 

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