Document:

Exhibit 10.2 

 

THIS
PRIVATE PLACEMENT SUBSCRIPTION AGREEMENT (THE “SUBSCRIPTION AGREEMENT”) RELATES TO AN OFFERING OF SECURITIES IN AN
OFFSHORE TRANSACTION TO PERSONS WHO ARE NOT U.S. PERSONS (AS DEFINED HEREIN) PURSUANT TO REGULATION S UNDER THE UNITED STATES
SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”).

 

NONE
OF THE SECURITIES TO WHICH THIS SUBSCRIPTION AGREEMENT RELATES HAVE BEEN REGISTERED UNDER THE 1933 ACT, OR ANY U.S. STATE SECURITIES
LAWS, AND, UNLESS SO REGISTERED, NONE MAY BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OR TO U.S. PERSONS
(AS DEFINED HEREIN) EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S UNDER THE 1933 ACT, PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE 1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION
REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS.

 

PRIVATE
PLACEMENT SUBSCRIPTION

FOR
NON U.S. SUBSCRIBERS

 

CHINA
INTERNET NATIONWIDE FINANCIAL SERVICES INC.

 

PRIVATE
PLACEMENT

 

INSTRUCTIONS
TO SUBSCRIBER:

 

COMPLETE
the information on page 2 of this Subscription Agreement.

 

COURIER
the originally executed copy of the entire Subscription Agreement to MEDORA CORP., to

 

CHINA
INTERNET NATIONWIDE FINANCIAL SERVICES INC.

 

c/o
19 West 44th Street, Suite 1001, New York, NY 10036

 

Attention:
Warren Wang

 

    	1

     

    

 

CHINA
INTERNET NATIONWIDE FINANCIAL SERVICES INC.L

PRIVATE
PLACEMENT

 

The
Subscriber hereby irrevocably subscribes for, and on Closing will purchase from the Company, the following securities at a price
of US$0.40 per Share:

 

	 

        __________
        Shares

 

	EXECUTED
    by the Subscriber this _______ day of______________, 2020. By executing this Agreement, the Subscriber certifies that the
    Subscriber and any beneficial purchaser for whom the Subscriber is acting is resident in the jurisdiction shown as the “Address
    of the Subscriber”. The address of the Subscriber will be accepted by the Company as a representative as to the address
    of residency for the Subscriber.

 

	WITNESS:	 	EXECUTION
    BY SUBSCRIBER: 
	 	 	 
	 	 	X
	Signature
    of witness	 	Signature
    of Subscriber
	 	 	 
	Name
    of witness	 	Name
    of Subscriber (please print)
	 	 	 
	ACCEPTED
    this ______ day of ___________, ________.	 	Address
    of Subscriber (residence)
	 	 	 
	CHINA
    INTERNET NATIONWIDE FINANCIAL SERVICES INC.	 	 
	 	 	 
	Per:	 	 
	 	 	 
	 	 	 
	Authorized
    signatory	 	 

 

By
signing this acceptance, the Company agrees to be bound by all representations, warranties, covenants and agreements on pages
5-12 hereof.

 

This
Subscription Agreement may be executed in any number of counterparts, each of which, when so executed and delivered, shall constitute
an original and all of which together shall constitute one instrument. Delivery of an executed copy of this Subscription Agreement
by electronic facsimile transmission or other means of electronic communication capable of producing a printed copy will be deemed
to be execution and delivery of this Subscription Agreement as of the date hereinafter set forth.

 

    	2

     

    

 

THIS
PRIVATE PLACEMENT SUBSCRIPTION AGREEMENT (THE “SUBSCRIPTION AGREEMENT”) RELATES TO AN OFFERING OF SECURITIES IN AN
OFFSHORE TRANSACTION TO PERSONS WHO ARE NOT U.S. PERSONS (AS DEFINED HEREIN) PURSUANT TO REGULATION S UNDER THE UNITED STATES
SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”).

 

NONE
OF THE SECURITIES TO WHICH THIS SUBSCRIPTION AGREEMENT RELATES HAVE BEEN REGISTERED UNDER THE 1933 ACT, OR ANY U.S. STATE SECURITIES
LAWS, AND, UNLESS SO REGISTERED, NONE MAY BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OR TO U.S. PERSONS
(AS DEFINED HEREIN) EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S UNDER THE 1933 ACT, PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE 1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION
REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS.

 

PRIVATE
PLACEMENT SUBSCRIPTION

(Non
U.S. Subscribers Only)

 

TO:
CHINA INTERNET NATIONWIDE FINANCIAL SERVICES INC. (the “Company”)

c/o
19 West 44th Street, Suite 1001, New York, NY 10036

 

Purchase
of Shares

1.
SUBSCRIPTION

 

1.1
The undersigned (the “Subscriber”) hereby irrevocably subscribes for and agrees to purchase the number of ordinary
shares of the Company (the “Shares”) as set out on page 2 of this Subscription Agreement at a price of US$0.40 per
Share (such subscription and agreement to purchase being the “Subscription”), for the total subscription price as
set out on page 2 of this Subscription Agreement (the “Subscription Proceeds”), which Subscription Proceeds are tendered
herewith, on the basis of the representations and warranties and subject to the terms and conditions set forth herein.

 

1.2
The Company hereby agrees to sell, on the basis of the representations and warranties and subject to the terms and conditions
set forth herein, to the Subscriber the Shares. Subject to the terms hereof, the Subscription Agreement will be effective upon
its acceptance by the Company. This offering is not subject to any minimum or maximum offering.

 

    	3

     

    

 

1.3
Unless otherwise provided, all dollar amounts referred to in this Subscription Agreement are in lawful money of the United States
of America.

 

2.
PAYMENT

 

2.1
The Subscription Proceeds must accompany this Subscription Agreement and paid in accordance to the Payment Instructions attached
hereto.

 

2.2
The Subscriber acknowledges and agrees that this Subscription Agreement, the Subscription Proceeds and any other documents delivered
in connection herewith will be held by the Company’s lawyers on behalf of the Company. In the event that this Subscription
Agreement is not accepted by the Company for whatever reason within 60 days of the delivery of an executed Subscription Agreement
by the Subscriber, this Subscription Agreement, the Subscription Proceeds and any other documents delivered in connection herewith
will be returned to the Subscriber at the address of the Subscriber as set forth in this Subscription Agreement without interest
or deduction.

 

2.3
Where the Subscription Proceeds are paid to the Company, the Company may treat the Subscription Proceeds as a non-interest bearing
loan and may use the Subscription Proceeds prior to this Subscription Agreement being accepted by the Company.

 

2.4
The Subscriber must complete, sign and return to the Company an executed copy of this Subscription Agreement, including the attached
completed Questionnaire.

 

2.5
The Subscriber shall complete, sign and return to the Company as soon as possible, on request by the Company, any documents, questionnaires,
notices and undertakings as may be required by regulatory authorities, and applicable law.

 

3.
CLOSING

 

3.1
Closing of the purchase and sale of the Shares shall occur on or before ______ or on such other date as may be determined
by the Company in its sole discretion (the “Closing Date”). The Subscriber acknowledges that Shares may be issued
to other subscribers under this offering (the “Offering”) before or after the Closing Date. The Company, may, at its
discretion, elect to close the Offering in one or more closings, in which event the Company may agree with one or more subscribers
(including the Subscriber hereunder) to complete delivery of the Shares to such subscriber(s) against payment therefore at any
time on or prior to the Closing Date.

    	4

     

    

 

4.
ACKNOWLEDGEMENTS OF SUBSCRIBER

 

4.1
The Subscriber acknowledges and agrees that:

 

(a)
none of the Shares have been registered under the Securities Act of 1933, as amended (the “1933 Act”), or under any
state securities or “blue sky” laws of any state of the United States, and are being offered only in a transaction
not involving any public offering within the meaning of the 1933 Act, and, unless so registered, may not be offered or sold in
the United States or to U.S. Persons (as defined herein), except pursuant to an effective registration statement under the 1933
Act, or pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the 1933 Act, and
in each case only in accordance with applicable state and provincial securities laws;

 

(b)
the Company will refuse to register any transfer of any of the Shares not made in accordance with the provisions of Regulation
S, pursuant to an effective registration statement under the 1933 Act or pursuant to an available exemption from, or in a transaction
not subject to, the registration requirements of the 1933 Act;

 

(c)
the decision to execute this Subscription Agreement and purchase the Shares agreed to be purchased hereunder has not been based
upon any oral or written representation as to fact or otherwise made by or on behalf of the Company and such decision is based
solely upon a review of information regarding the Company provided by the Company to the Subscriber (the “Company Information”);

 

(d)
the Subscriber and the Subscriber’s advisor(s) have had a reasonable opportunity to review the Company Information and to
ask questions of and receive answers from the Company regarding the Offering, and to obtain additional information, to the extent
possessed or obtainable without unreasonable effort or expense, necessary to verify the accuracy of the information contained
in the Company Information, or any other document provided to the Subscriber;

 

    	5

     

    

 

(e)
the books and records of the Company were available upon reasonable notice for inspection, subject to certain confidentiality
restrictions, by the Subscriber during reasonable business hours at its principal place of business and that all documents, records
and books pertaining to this Offering have been made available for inspection by the Subscriber, the Subscriber’s attorney
and/or advisor(s);

 

(f)
by execution hereof the Subscriber has waived the need for the Company to communicate its acceptance of the purchase of the Shares
pursuant to this Subscription Agreement;

 

(g)
the Company is entitled to rely on the representations and warranties and the statements and answers of the Subscriber contained
in this Subscription Agreement and the Subscriber will hold harmless the Company from any loss or damage it may suffer as a result
of the Subscriber’s failure to correctly complete this Subscription Agreement;

 

(h)
the Subscriber will indemnify and hold harmless the Company and, where applicable, its respective directors, officers, employees,
agents, advisors and shareholders from and against any and all loss, liability, claim, damage and expense whatsoever (including,
but not limited to, any and all fees, costs and expenses whatsoever reasonably incurred in investigating, preparing or defending
against any claim, lawsuit, administrative proceeding or investigation whether commenced or threatened) arising out of or based
upon any acknowledgment, representation or warranty of the Subscriber contained herein or in any other document furnished by the
Subscriber to the Company in connection herewith, being untrue in any material respect or any breach or failure by the Subscriber
to comply with any covenant or agreement made by the Subscriber to the Company in connection therewith;

 

(i)
the issuance and sale of the Shares to the Subscriber will not be completed if it would be unlawful or if, in the discretion of
the Company acting reasonably, it is not in the best interests of the Company;

 

(j)
the Subscriber has been advised to consult the Subscriber’s own legal, tax and other advisors with respect to the merits
and risks of an investment in the Shares and with respect to the applicable resale restrictions, and it is solely responsible
(and the Company is not in any way responsible) for compliance with:

 

(i)
any applicable laws of the jurisdiction in which the Subscriber is resident in connection with the distribution of the Shares
hereunder, and

 

(ii)
applicable resale restrictions;

 

    	6

     

    

 

(k)
the Subscriber has not acquired the Shares as a result of, and will not itself engage in, any “directed selling efforts”
(as defined in Regulation S under the 1933 Act) in the United States in respect of any of the Shares which would include any activities
undertaken for the purpose of, or that could reasonably be expected to have the effect of, conditioning the market in the United
States for the resale of any of the Shares; provided, however, that the Subscriber may sell or otherwise dispose of any of the
Shares pursuant to registration of any of the Shares pursuant to the 1933 Act and any applicable state securities laws or under
an exemption from such registration requirements and as otherwise provided herein;

 

(l)
the Subscriber is outside the United States when receiving and executing this Subscription Agreement and is acquiring the Shares
as principal for its own account, for investment purposes only, and not with a view to, or for, resale, distribution or fractionalization
thereof, in whole or in part, and no other person has a direct or indirect beneficial interest in such Shares;

 

(m)
none of the Shares may be offered or sold to a U.S. Person or for the account or benefit of a U.S. Person (other than a distributor)
prior to the end of the expiration of a period of one year after the date of original issuance of the Shares;

 

(n)
the statutory and regulatory basis for the exemption claimed for the offer and sale of the Shares, although in technical compliance
with Regulation S, would not be available if the offering is part of a plan or scheme to evade the registration provisions of
the 1933 Act;

 

(o)
[deleted];

 

(p)
neither the SEC nor any other securities commission or similar regulatory authority has reviewed or passed on the merits of any
of the Shares;

 

(q)
no documents in connection with this Offering have been reviewed by the SEC or any state securities administrators;

 

(r)
there is no government or other insurance covering any of the Shares; and

 

(s)
this Subscription Agreement is not enforceable by the Subscriber unless it has been accepted by the Company, and the Subscriber
acknowledges and agrees that the Company reserves the right to reject any subscription for any reason.

 

    	7

     

    

 

5.
REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE SUBSCRIBER

 

5.1
The Subscriber hereby represents and warrants to and covenants with the Company (which representations, warranties and covenants
shall survive the Closing Date) that:

 

(a)
the Subscriber is not a U.S. Person (as defined herein);

 

(b)
the Subscriber is not acquiring the Shares for the account or benefit of, directly or indirectly, any U.S. Person (as defined
herein);

 

(c)
the Subscriber is resident in the jurisdiction set out on page 2 of this Subscription Agreement;

 

(d)
the Subscriber:

 

(i)
is knowledgeable of, or has been independently advised as to, the applicable securities laws of the securities regulators having
application in the jurisdiction in which the Subscriber is resident (the “International Jurisdiction”) which would
apply to the acquisition of the Shares,

 

(ii)
is purchasing the Shares pursuant to exemptions from prospectus or equivalent requirements under applicable securities laws or,
if such is not applicable, the Subscriber is permitted to purchase the Shares under the applicable securities laws of the securities
regulators in the International Jurisdiction without the need to rely on any exemptions,

 

(iii)
acknowledges that the applicable securities laws of the authorities in the International Jurisdiction do not require the Company
to make any filings or seek any approvals of any kind whatsoever from any securities regulator of any kind whatsoever in the International
Jurisdiction in connection with the issue and sale or resale of any of the Shares, and

 

(iv)
represents and warrants that the acquisition of the Shares by the Subscriber does not trigger:

 

A.
any obligation to prepare and file a prospectus or similar document, or any other report with respect to such purchase in the
International Jurisdiction, or

 

    	8

     

    

 

B.
any continuous disclosure reporting obligation of the Company in the International Jurisdiction, and

 

the
Subscriber will, if requested by the Company, deliver to the Company a certificate or opinion of local counsel from the International
Jurisdiction which will confirm the matters referred to in subparagraphs (ii), (iii) and (iv) above to the satisfaction of the
Company, acting reasonably;

 

(e)
the Subscriber is acquiring the Shares as principal for investment only and not with a view to, or for, resale, distribution or
fractionalization thereof, in whole or in part, and, in particular, it has no intention to distribute either directly or indirectly
any of the Shares in the United States or to U.S. Persons (as defined herein);

 

(f)
the Subscriber is outside the United States when receiving and executing this Subscription Agreement;

 

(g)
the Subscriber understands and agrees not to engage in any hedging transactions involving any of the Shares unless such transactions
are in compliance with the provisions of the 1933 Act and in each case only in accordance with applicable state securities laws;

 

(h)
the Subscriber acknowledges that it has not acquired the Shares as a result of, and will not itself engage in, any “directed
selling efforts” (as defined in Regulation S under the 1933 Act) in the United States in respect of any of the Shares which
would include any activities undertaken for the purpose of, or that could reasonably be expected to have the effect of, conditioning
the market in the United States for the resale of any of the Shares; provided, however, that the Subscriber may sell or otherwise
dispose of any of the Shares pursuant to registration of any of the Shares pursuant to the 1933 Act and any applicable state securities
laws or under an exemption from such registration requirements and as otherwise provided herein;

 

(i)
the Subscriber has the legal capacity and competence to enter into and execute this Subscription Agreement and to take all actions
required pursuant hereto and, if the Subscriber is a corporation, it is duly incorporated and validly subsisting under the laws
of its jurisdiction of incorporation and all necessary approvals by its directors, shareholders and others have been obtained
to authorize execution and performance of this Subscription Agreement on behalf of the Subscriber;

 

    	9

     

    

 

(j)
the entering into of this Subscription Agreement and the transactions contemplated hereby do not result in the violation of any
of the terms and provisions of any law applicable to, or, if applicable, the constating documents of, the Subscriber, or of any
agreement, written or oral, to which the Subscriber may be a party or by which the Subscriber is or may be bound;

 

(k)
the Subscriber has duly executed and delivered this Subscription Agreement and it constitutes a valid and binding agreement of
the Subscriber enforceable against the Subscriber;

 

(l)
the Subscriber has received and carefully read this Subscription Agreement;

 

(m)
the Subscriber (i) has adequate net worth and means of providing for its current financial needs and possible personal contingencies,
(ii) has no need for liquidity in this investment, and (iii) is able to bear the economic risks of an investment in the Shares
for an indefinite period of time, and can afford the complete loss of such investment;

 

(n)
the Subscriber has the requisite knowledge and experience in financial and business matters as to be capable of evaluating the
merits and risks of the investment in the Shares and the Company, and the Subscriber is providing evidence of knowledge and experience
in these matters through the information requested herein;

 

(o)
the Subscriber understands and agrees that the Company and others will rely upon the truth and accuracy of the acknowledgements,
representations, warranties, covenants and agreements contained in this Subscription Agreement, and agrees that if any of such
acknowledgements, representations and agreements are no longer accurate or have been breached, the Subscriber shall promptly notify
the Company;

 

(p)
the Subscriber is aware that an investment in the Company is speculative and involves certain risks, including the possible loss
of the investment;

 

(q)
the Subscriber is purchasing the Shares for its own account for investment purposes only and not for the account of any other
person and not for distribution, assignment or resale to others, and no other person has a direct or indirect beneficial interest
is such Shares, and the Subscriber has not subdivided his interest in the Shares with any other person;

 

    	10

     

    

 

(r)
the Subscriber is not an underwriter of, or dealer in, the Shares, nor is the Subscriber participating, pursuant to a contractual
agreement or otherwise, in the distribution of the Shares;

 

(s)
the Subscriber has made an independent examination and investigation of an investment in the Shares and the Company and has depended
on the advice of its legal and financial advisors and agrees that the Company will not be responsible in anyway whatsoever for
the Subscriber’s decision to invest in the Shares and the Company;

 

(t)
if the Subscriber is acquiring the Shares as a fiduciary or agent for one or more investor accounts, the Subscriber has sole investment
discretion with respect to each such account, and the Subscriber has full power to make the foregoing acknowledgements, representations
and agreements on behalf of such account;

 

(u)
the Subscriber is not aware of any advertisement of any of the Shares and is not acquiring the Shares as a result of any form
of general solicitation or general advertising including advertisements, articles, notices or other communications published in
any newspaper, magazine or similar media or broadcast over radio or television, or any seminar or meeting whose attendees have
been invited by general solicitation or general advertising;

 

(v)
no person has made to the Subscriber any written or oral representations:

 

(i)
that any person will resell or repurchase any of the Shares,

 

(ii)
that any person will refund the purchase price of any of the Shares,

 

(iii)
as to the future price or value of any of the Shares, or

 

(iv)
that any of the Shares will be listed and posted for trading on any stock exchange or automated dealer quotation system or that
application has been made to list and post any of the Shares of the Company on any stock exchange or automated dealer quotation
system; and

 

(w)
the Subscriber acknowledges and agrees that the Company shall not consider the Subscriber’s Subscription for acceptance
unless the undersigned provides to the Company, along with an executed copy of this Subscription Agreement and such other supporting
documentation that the Company or its legal counsel may request to establish the Subscriber’s qualification as a qualified
investor.

 

    	11

     

    

 

5.2
In this Subscription Agreement, the term “U.S. Person” shall have the meaning ascribed thereto in Regulation S promulgated
under the 1933 Act and for the purpose of the Subscription Agreement includes any person in the United States.

 

6.
ACKNOWLEDGEMENT AND WAIVER

 

6.1
The Subscriber has acknowledged that the decision to purchase the Shares was solely made on the Company Information. The Subscriber
hereby waives, to the fullest extent permitted by law, any rights of withdrawal, rescission or compensation for damages to which
the Subscriber might be entitled in connection with the distribution of any of the Shares.

 

7.
REPRESENTATIONS AND WARRANTIES WILL BE RELIED UPON BY THE COMPANY

 

7.1
The Subscriber acknowledges that the acknowledgements, representations and warranties contained herein are made by it with the
intention that they may be relied upon by the Company and its legal counsel in determining the Subscriber’s eligibility
to purchase the Shares under applicable securities legislation, or (if applicable) the eligibility of others on whose behalf it
is contracting hereunder to purchase the Shares under applicable securities legislation. The Subscriber further agrees that by
accepting delivery of the certificates representing the Shares, it will be representing and warranting that the acknowledgements
representations and warranties contained herein are true and correct as of the date hereof and will continue in full force and
effect notwithstanding any subsequent disposition by the Subscriber of such Shares.

 

8.
RESALE RESTRICTIONS

 

8.1
The Subscriber acknowledges that any resale of the Shares will be subject to resale restrictions contained in the securities legislation
applicable to the Subscriber or proposed transferee. The Subscriber acknowledges that none of the Shares have been registered
under the 1933 Act or the securities laws of any state of the United States. None of the Shares may be offered or sold in the
United States unless registered in accordance with federal securities laws and all applicable state securities laws or exemptions
from such registration requirements are available.

 

9.
LEGENDING AND REGISTRATION OF SUBJECT SECURITIES

 

9.1
The Subscriber hereby acknowledges that upon the issuance thereof, and until such time as the same is no longer required under
the applicable securities laws and regulations, the certificates representing any of the Shares will bear a legend in substantially
the following form:

 

    	12

     

    

 

THE
SECURITIES REPRESENTED HEREBY HAVE BEEN OFFERED IN AN OFFSHORE TRANSACTION TO A PERSON WHO IS NOT A U.S. PERSON (AS DEFINED HEREIN)
PURSUANT TO REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”).

 

NONE
OF THE SECURITIES REPRESENTED HEREBY HAVE BEEN REGISTERED UNDER THE 1933 ACT, OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO
REGISTERED, MAY NOT BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES (AS DEFINED HEREIN) OR TO U.S. PERSONS EXCEPT
IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S UNDER THE 1933 ACT, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE
1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE
1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. IN ADDITION, HEDGING TRANSACTIONS INVOLVING
THE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE 1933 ACT. “UNITED STATES” AND “U.S. PERSON”
ARE AS DEFINED BY REGULATION S UNDER THE 1933 ACT.

 

9.2
The Subscriber hereby acknowledges and agrees to the Company making a notation on its records or giving instructions to the registrar
and transfer agent of the Company in order to implement the restrictions on transfer set forth and described in this Subscription
Agreement.

 

    	13

     

    

 

10.
COLLECTION OF PERSONAL INFORMATION

 

10.1
The Subscriber acknowledges and consents to the fact that the Company is collecting the Subscriber’s personal information
for the purpose of fulfilling this Subscription Agreement and completing the Offering. The Subscriber’s personal information
(and, if applicable, the personal information of those on whose behalf the Subscriber is contracting hereunder) may be disclosed
by the Company to (a) stock exchanges or securities regulatory authorities, (b) the Company’s registrar and transfer agent
and (c) any of the other parties involved in the Offering, including legal counsel, and may be included in record books in connection
with the Offering. By executing this Subscription Agreement, the Subscriber is deemed to be consenting to the foregoing collection,
use and disclosure of the Subscriber’s personal information (and, if applicable, the personal information of those on whose
behalf the Subscriber is contracting hereunder) and to the retention of such personal information for as long as permitted or
required by law or business practice. Notwithstanding that the Subscriber may be purchasing Shares as agent on behalf of an undisclosed
principal, the Subscriber agrees to provide, on request, particulars as to the identity of such undisclosed principal as may be
required by the Company in order to comply with the foregoing.

 

11.
COSTS

 

11.1
The Subscriber acknowledges and agrees that all costs and expenses incurred by the Subscriber (including any fees and disbursements
of any special counsel retained by the Subscriber) relating to the purchase of the Shares shall be borne by the Subscriber.

 

12.
GOVERNING LAW

 

12.1
This Subscription Agreement is governed by the laws of the State of New York and the federal laws of the United States applicable
thereto. The Subscriber, in its personal or corporate capacity and, if applicable, on behalf of each beneficial purchaser for
whom it is acting, irrevocably attorns to the exclusive jurisdiction of the Courts of the State of New York.

 

13.
SURVIVAL

 

13.1
This Subscription Agreement, including without limitation the representations, warranties and covenants contained herein, shall
survive and continue in full force and effect and be binding upon the parties hereto notwithstanding the completion of the purchase
of the Shares by the Subscriber pursuant hereto.

 

14.
ASSIGNMENT

 

14.1
This Subscription Agreement is not transferable or assignable.

 

    	14

     

    

 

15.
SEVERABILITY

 

15.1
The invalidity or unenforceability of any particular provision of this Subscription Agreement shall not affect or limit the validity
or enforceability of the remaining provisions of this Subscription Agreement.

 

16.
ENTIRE AGREEMENT

 

16.1
Except as expressly provided in this Subscription Agreement and in the agreements, instruments and other documents contemplated
or provided for herein, this Subscription Agreement contains the entire agreement between the parties with respect to the sale
of the Shares and there are no other terms, conditions, representations or warranties, whether expressed, implied, oral or written,
by statute or common law, by the Company or by anyone else.

 

17.
NOTICES

 

17.1
All notices and other communications hereunder shall be in writing and shall be deemed to have been duly given if mailed or transmitted
by any standard form of telecommunication. Notices to the Subscriber shall be directed to the address on page 2 and notices to
the Company shall be directed to it at the first page of this Subscription Agreement.

 

18.
COUNTERPARTS AND ELECTRONIC MEANS

 

18.1
This Subscription Agreement may be executed in any number of counterparts, each of which, when so executed and delivered, shall
constitute an original and all of which together shall constitute one instrument. Delivery of an executed copy of this Subscription
Agreement by electronic facsimile transmission or other means of electronic communication capable of producing a printed copy
will be deemed to be execution and delivery of this Subscription Agreement as of the date hereinafter set forth.

 

    	15

     

    

 

PAYMENT
INSTRUCTIONS

 

By
wire: Wiring Instructions for Hudson Capital USA Inc. , a wholly-owned subsidiary of China Internet Nationwide Financial Services,
Inc.

 

Beneficiary:

Bank
Account No. :

Bank
Routing Number (Domestic wires):

Bank
Routing/SWIFT Code (International wires):

Receiver
Bank Name:

Receiver
Bank Address:

 

    	16Exhibit 4.2

 

 

Paycheck Protection Program Promissory Note and Agreement

 

Wells Fargo SBA Lending

 

Borrower Names:

Inpixon Federal

 

 

 

 

 

 

 

 

 

 

Important Notice: This Instrument Contains A Confession
Of Judgment Provision Which Constitutes A waiver Of Important Rights You May Have As A Debtor And Allows The Creditor To
Obtain A Judgment Against You without Any Further Notice. Venue Will Be In The City Of Richmond.

 

Paycheck Protection Program Promissory Note and Agreement

 

1. Parties
To Agreement And Acceptance

 

This Wells Fargo Paycheck Protection Promissory Note and Agreement
(“Agreement”) governs the Wells Fargo Paycheck Protection Loan (“Loan”) that Wells Fargo Bank, N.A. (“we”
or “Lender”) is providing to you (if a sole proprietor) or your business organization, Borrower(s) listed above, (such
a sole proprietor or business organization are referred to in this Agreement as “Customer”, “you”, and
“your” or “Borrower”) and your designated representatives. The Loan is established under the terms and
conditions of the SBA program of the United States Small Business Administration (“SBA”) and the USA CARES Act (2020)(H.R.
748)(15 U.S.C 636 et seq.) (the “Act”) and the availability of the Loan is expressly contingent on funds being
available from the SBA under the Act to guaranty this Loan. You agree to be bound by and comply with each and every following
term and condition of this Agreement. Lender agrees, based on the terms and conditions and relying upon the representations and
warranties set forth in this Agreement, to make available to Borrower the Loan as more fully described herein.

 

2. Promise to Pay

 

Borrower promises to pay to Lender, or order, the principal
amount of $349,693, together with interest on the outstanding principal balance. Borrower will pay Lender at Lender’s address
shown in this Agreement or at such other place as Lender may designate in writing.

 

3. Interest

 

Interest will accrue on the outstanding principal balance at
a fixed rate of 1.00%. Interest will be calculated as described in the Interest Accrual Basis paragraph below.

 

4. Interest
Accrual Basis

 

Interest shall be computed on an actual/365 simple interest
basis; that is, by multiplying the applicable interest rate, times the outstanding principal balance, times the actual number of
days the principal is outstanding and dividing by a year of 365 days.

 

5. Repayment

 

Payments shall be due and payable monthly in the amount of $14,722.52
commencing 11/01/2020 and continuing on Day 03 of each month thereafter until maturity. The Loan shall mature two
(2) years from the date of this Agreement 05/03/2022, at which time all unpaid principal, accrued interest, and any other
unpaid amounts shall be due and payable in full. Unless otherwise agreed, all sums received from Borrower may be applied to interest,
fees, principal, or any other amounts due to Lender in any order at Lender’s sole discretion.

 

As discussed further herein, the Borrower may apply for the
loan to be forgiven in whole or in part.

 

If any portion of the principal and/or interest payments are
forgiven by the Lender, upon forgiveness, the remaining balance of the loan will be reamortized over the remaining term with the
entire principal balance remaining unpaid, along with all accrued and unpaid interest, due and payable upon the Maturity Date.

 

     

     

    

 

6. Permissible
Use

 

The Account will be used for only for purposes authorized by
the Act,specifically the Paycheck Protection Program contained within such Act.

 

In no event shall the Loan be used for
any transaction that is illegal under any applicable law. You represent that you (if a sole proprietor) and your business organization
are not a Money Service Business as defined by federal law, or have identified yourself to Lender as such a business and have complied
with all applicable laws, rules and regulations governing such businesses.

 

7. Forgiveness

 

The Borrower will not be responsible for any loan payment if
Borrower provides to Lender, in its sole and absolute discretion, sufficient documentation that (i) the Borrower used all of the
loan proceeds for forgivable purposes described below and (ii) employee and compensation levels are maintained.

 

The actual amount of loan forgiveness will depend, in part,
on the total amount of payroll costs, payments of interest on mortgage obligations incurred before February 15, 2020, rent payments
on leases dated before February 15, 2020, and utility payments under service agreements dated before February 15, 2020, over the
eight-week period following the date of the loan. Not more than 25 percent of the loan forgiveness amount may be attributable to
non-payroll costs. The following is an exhaustive list of forgivable purposes:

 

		1)	payroll costs (as defined in the Act and in 2.f.);

 

		2)	costs related to the continuation of group health care
benefits during periods of paid sick, medical, or family leave, and insurance premiums;

 

		3)	mortgage interest payments (but not mortgage prepayments
or principal payments);

 

		4)	rent payments;

 

		5)	utility payments;

 

		6)	interest payments on any other debt obligations that were
incurred before February 15, 2020; and/or

 

		7)	refinancing an SBA EIDL loan made between January 31, 2020
and April 3, 2020.

 

8. Late Charges

 

For each payment of principal, interest, and/or fees which has
not been paid in full within fifteen days after its date due, Borrower will pay to Lender a late charge of $15.00 or five percent
(5%) of the amount due, whichever is greater. Borrower acknowledges and agrees that the amount of this late fee is reasonable with
respect to this Loan, taking into account Lender’s expectation of timely receipt of payments with regard to the favorable pricing
of this Loan, and the operational, administrative and regulatory burdens flowing from late payments and delinquencies. To the extent
this late fee or any other fee or charge set forth in this Agreement may be prohibited or exceed any limit provided by any present
or future applicable law, such fee or charge shall be reduced to the maximum amount allowed.

 

9. Prepayment

 

Borrower may prepay principal of the Loan at any time, in any
amount, without penalty.

 

10. Default

 

The following constitute defaults under this Agreement:

 

		1)	a payment is not made when it is due;

 

		2)	the terms of this Agreement are breached in any way;

 

		3)	Customer defaults under the terms of any other obligation
to Lender;

 

		4)	a bankruptcy petition is filed by or against Customer or
any of Customer’s owners;

 

		5)	a significant change occurs in the ownership or organizational
structure of Customer or in the type or volume of such Customer’s business or the death of a Customer;

 

		6)	Customer becomes insolvent or is dissolved, or Lender otherwise
believes in good faith that the prospect of payment and/or performance under this Agreement;

 

		7)	payments to the Loan are returned or reversed for any reason;

 

		8)	Customer fails to submit required information the Lender
deems necessary.

 

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11. Remedies

 

In the event of any Default or failure to meet any condition
under the preceding paragraphs, or upon any termination of a Loan, Lender may, at its option and without prior notification:

 

		1)	close any and all Loans to all use, as well as any other
accounts for which the Customer is liable to Lender;

 

		2)	accelerate payment of the full balance on any or all Loans
as well as any or all other accounts for which the Customer is liable to Lender, and thereby require immediate payment of the
full balance, including, without limitation any Late Charges or any other charges or fees of any kind due Lender.

 

		3)	Lender may exercise its right of set-off against any obligation
Lender owes to you, including a set-off to the extent permitted by law against any deposit account(s) you have with Lender.

 

12. Borrower hereby
certifies and represents that:

 

		1)	Borrower is eligible to receive a loan under the rules
in effect at the time the loan is made that have been issued by the Small Business Administration (SBA) implementing the Paycheck
Protection Program under Division A, Title I of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) (the Paycheck
Protection Program Rule).

 

		2)	Borrower does not operate an ineligible business under
the CARES Act and any implementing rules, 13 CFR 120.110 and described further in SBA’s Standard Operating Procedure 50
10, Subpart B, Chapter 2. Borrower further certifies that Borrower is not engaged in any activity that is illegal under federal,
state or local law.

 

		3)	Borrower (1) is an independent contractor, eligible self-employed
individual, or sole proprietor or (2) employs no more than the greater of 500 or employees or, if applicable, the size standard
in number of employees established by the SBA in 13 C.F.R. 121.201 for the Applicant’s industry.

 

		4)	The Borrower or any owner of Borrower is not presently
suspended, debarred, proposed for debarment, declared ineligible, voluntarily excluded from participation in this transaction
by any Federal department or agency, or presently involved in any bankruptcy.

 

		5)	The Borrower, any owner of Borrower or any business owned
or controlled by either of them, has not obtained a direct or guaranteed loan from SBA or any other Federal agency that is currently
delinquent or has defaulted within the last seven (7) years and caused a loss to the government.

 

		6)	The Borrower (if an individual) or any individual owning
20% or more of the equity of the Borrower is not (a) subject to an indictment, criminal information, arraignment, or other means
by which formal criminal charges are brought in any jurisdiction, (b) presently incarcerated, or (c) on probation or parole.

 

		7)	Within the last five (5) years, the Borrower (if an individual)
or any individual owning 20% or more of the equity of the Borrower has not (a) been convicted of a felony; (b) pleaded guilty
to a felony; (c) pleaded nolo contendere to a felony; (d) been placed on pretrial diversion for a felony; or (e) been placed on
any form of parole or probation (including probation before judgment) for felony charges.

 

		8)	The Borrower is not a household employer (e.g. an individual
who employs household employees such as nannies or housekeepers).

 

		9)	All documents submitted to Lender, including without limitation,
payroll processor records, payroll tax filings, Form 1099-MISC, or bank records, are true and correct.

 

		10)	The United States is the principal place of residence for
all employees of the Borrower included in the Borrower’s payroll calculation submitted to Lender.

 

		11)	If the Borrower operates a franchise business, such franchise
is listed on the SBA Franchise Directory.

 

		12)	Any loan received by the Borrower under Section 7(b)(2)
of the Small Business Act between January 31, 2020 and April 3, 2020 was for a purpose other than paying payroll costs and other
allowable uses loans under the Paycheck Protection Program Rule.

 

		13)	The Borrower was in operation on February 15, 2020 and
had employees for whom it paid salaries and payroll taxes or paid independent contractors, as reported on Form(s) 1099-MISC.

 

		14)	Current economic uncertainty makes this Loan request necessary
to support the ongoing operations of the Borrower.

 

		15)	The funds will be used to retain workers and maintain payroll
or make mortgage interest payments, lease payments, and utility payments, as specified under the Paycheck Protection Program Rule;
I understand that if the funds are knowingly used for unauthorized purposes, the federal government may hold me legally liable,
such as for charges of fraud.

 

		16)	During the period beginning on February 15, 2020 and ending
on December 31, 2020, the Borrower has not and will not receive another loan under the Paycheck Protection Program.

 

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		17)	Borrower certifies that the information provided in the
application and the information provided in all supporting documents and forms is true and accurate in all material respects.
Borrower understands that knowingly making a false statement to obtain a guaranteed loan from SBA is punishable under the law,
including under 18 USC 1001 and 3571 by imprisonment of not more than five years and/or a fine of up to $250,000; under 15 USC
645 by imprisonment of not more than two years and/or a fine of not more than $5,000; and, if submitted to a federally insured
institution, under 18 USC 1014 by imprisonment of not more than thirty years and/or a fine of not more than $1,000,000.

 

		18)	Borrower acknowledges that the lender will confirm the
eligible loan amount using required documents submitted. Borrower understands, acknowledges and agrees that the Lender can share
any tax information that it has provided with SBA’s authorized representatives, including authorized representatives of the SBA
Office of Inspector General, for the purpose of compliance with SBA Loan Program Requirements and all SBA reviews.

 

		19)	The undersigned officer of the Borrower is duly authorized
to execute and deliver this Agreement, the Note and all other documents executed in connection therewith, and the performance
by the Borrower of the transactions herein contemplated are and will be within its powers, have been duly authorized by all necessary
entity action, and are not and will not be in contravention of any order of court or other agency of government, of law or, if applicable, its organizing or governing documents,
or any indenture, agreement or undertaking to which it is a party or by which its property is bound, or be in conflict with, result
in a breach of or constitute (with due notice and/or lapse of time) a default under any such indenture, agreement or undertaking
or result in the imposition of any lien, charge or encumbrance of any nature on any of the properties of such Borrower.

 

13. Indemnification

 

Borrower agrees to indemnify Lender and hereby holds Lender
harmless against any and all claims, actions, suits, proceedings, costs, expenses, brokerage or other fees, including reasonable
attorneys’ fees, losses, damages and liabilities of any kind, including in tort, penalties and interest, which Lender may
incur in any manner other than Lender’s own gross negligence or willful misconduct, by reason of any matter relating, directly
or indirectly, to the Loan and the Loan Documents, including, but in no way limited to, without limitation, the calculation of
the maximum Loan amount or the amount of the Loan that qualifies as eligible for forgiveness.

 

14. Attorney’s fees and costs

 

Customer agrees to pay Lenders attorney’s fees and costs:
1) related to this Agreement; or 2) related to enforcing this Agreement against customer or customer’s owners (if applicable);
or 3) related to collecting any amounts due under this Agreement from Customer or Customer’s owners (if applicable).

 

15. Collateral Exclusions

 

No deed of trust, mortgage, security deed, or similar real estate
collateral agreement (“Lien Document”), nor any personal property security agreement other than this Agreement or any
modification of same (“Security Agreement”), shall secure this Note unless such Lien Document or Security Agreement specifically
describes this Agreement as a part of the indebtedness secured thereby. As used herein, this “Agreement” means either
(i) this Agreement or (ii) a promissory note, Confirmation Letter or other evidence of indebtedness which has been modified, renewed
or extended in whole or in part by this Agreement. This exclusion shall apply notwithstanding the fact that such Lien Document
or Security Agreement may appear to secure this Agreement by virtue of a cross-collateralization provision or other provisions
expanding the scope of the secured obligations.

 

16. Supplemental provisions concerning cross-collateralization
and personal property

 

Notwithstanding anything to the contrary in any Lien Document
which specifically describes this Agreement as a part of the indebtedness secured thereby, (1) any cross-collateralization provision
and any other provisions contained therein expanding the scope of the secured obligations beyond the Secured Debt, any related
“swap agreements” (as defined in 11 U.S.C. Section 101), and obligations to protect and preserve collateral, shall have
no force or effect, and (2) any lien or security interest granted in such Lien Document upon personal property shall not include
any items of personal property located in a Covered Structure unless all applicable requirements of the Act, if any, have been
satisfied with respect to such items of personal property. As used herein, “Secured Debt” means this Agreement and any
other notes or agreements evidencing indebtedness specifically described or listed in and expressly secured by any such Lien Document(s)
and modifications, renewals, and extensions of such notes and agreements, and “Covered Structure” means a building or
mobile home as defined in the National Flood Insurance Act (as amended) and its implementing regulations (collectively, the “Act”)
located in an area designated by the Administrator of the Federal Emergency Management Agency as a special flood hazard area which
requires flood insurance pursuant to the terms of the Act. Additionally, notwithstanding anything to the contrary in the Agreement,
personal property security interests granted pursuant to the terms of the Agreement shall not secure any obligations beyond this
Agreement any related “swap agreements” (as defined in 11 U.S.C. Section 101), and obligations to protect and preserve
collateral. This exclusion shall apply notwithstanding the fact that the Agreement may appear to secure such other obligations
by virtue of the definition of Indebtedness contained in the Agreement.

 

 

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17. Money Laundering, Sanctions, Corrupt Practices, and Compliance
with all laws

 

Borrower represents, warrants and agrees that Borrower, all
Borrowers, and any of their parents, affiliates, subsidiaries, officers, directors, or agents (the “Borrowing Group”)
(1) are not now and will not become a Sanctioned Target (as defined below) of any trade, economic, financial, sectoral or secondary
sanctions, restrictions, embargoes or anti-terrorism laws promulgated by the United Nations or the governments of the United States,
the United Kingdom, the European Union, or any other governmental authority with jurisdiction over any of the Borrowing Group
(collectively, “Sanctions”), and are not owned or controlled by, or acting or purporting to act for or on behalf of,
directly or indirectly, a Sanctioned Target, (2) now comply and will at all times comply with, and have instituted and maintain,
policies, procedures and controls reasonably designed to assure compliance with, the requirements of all laws, rules, regulations
and orders of any governmental authority with jurisdiction over any of the Borrowing Group, or that are otherwise applicable to
the Borrowing Group, including, without limitation, (a) all Sanctions, (b) all laws and regulations that relate to money laundering,
any predicate crime to money laundering, or any financial record keeping and reporting requirements related thereto (“Anti-Money
Laundering Laws”), and (c) the U.S. Foreign Corrupt Practices Act of 1977, as amended, the U.K. Bribery Act of 2010, as amended,
and any other anti-bribery or anti-corruption laws and regulations in any jurisdiction in which the Borrowing Group is located
or doing business (“Anti-Corruption Laws”), (3) to the best of Borrower’s knowledge, after due care and inquiry, are
not under investigation for an alleged violation of Sanctions, Anti-Money Laundering Laws or Anti-Corruption Laws by a governmental
authority that enforces such Sanctions, Anti-Money Laundering Laws or Anti-Corruption Laws, (4) will not at any time directly
or indirectly use any proceeds of any credit extended by Lender to fund, finance or facilitate any activities, businesses or transactions
that are prohibited by Sanctions, Anti-Money Laundering Laws or Anti-Corruption Laws, or that would be prohibited by the same
if conducted by Lender or any other party hereto, and (5) shall not fund any repayment of the credit with proceeds, or provide
as collateral any property, that is directly or indirectly derived from any transaction or activity that is prohibited by Sanctions,
Anti-Money Laundering Laws or Anti-Corruption Laws, or that could otherwise cause the Lender or any other party to this agreement
to be in violation of Sanctions, Anti-Money Laundering Laws or Anti-Corruption Laws. Borrower shall notify Lender in writing not
more than one (1) business day after first becoming aware of any breach of the foregoing paragraph. “Sanctioned Target”
means any target of Sanctions, including (1) persons on any list of targets identified or designated pursuant to any Sanctions,
(2) persons, countries, or territories that are the target of any territorial or country-based Sanctions program, (3) persons
that are a target of Sanctions due to their ownership or control by any Sanctioned Target(s), or (4) persons otherwise a target
of Sanctions, including vessels and aircraft, that are designated under any Sanctions program.

 

18. Laws governing this agreement

 

The laws of the state of South Dakota shall govern this Agreement.
If any part of this Agreement cannot be enforced, this fact will not affect the rest of this Agreement. Lender may delay or forego
enforcing any of its rights or remedies under this Agreement without losing them. Notwithstanding anything to the contrary, this
Agreement shall not require or permit the payment, taking, reserving, receiving, collection, or charging of any sums constituting
interest that exceed any maximum amount of interest permitted by applicable law. Any such excess interest shall be credited against
the then unpaid principal balance or refunded to Customer. Without limiting the foregoing, all calculations to determine whether
interest exceeds the maximum amount shall be made by amortizing, pro-rating, allocating, and spreading such sums over the full
term of the loan.

 

19. Limitation on Lawsuits

 

Customer agrees that any lawsuit based
upon any cause of action which Customer may have against Lender must be filed within one year from the date that it arises or Customer
will be barred from filing the lawsuit. This limitation is intended to include tort, contract, and all other causes of action for
which Customer and Lender may lawfully contract to set limitations for bringing suit.

 

20. Credit Evaluation

 

Credit reports and re-evaluation of credit: You authorize
Lender to obtain business and personal credit bureau reports in the name of the Customer or its owners, at any time. You agree
to submit to Lender current financial information in the name of the Customer and to submit to Lender, current financial information
in its name, and the name of its owners at any time upon request. Such information shall be used for the purpose of evaluating
or re-evaluating Customer’s or its owners’ creditworthiness. You also authorize Lender to use such information and
to share it with its affiliates in order to determine whether you are qualified for other products and services offered by Lender
and its affiliates. Lender may report its credit experience with Customer, its owners’, and Customer’s Loan(s) to third
parties. Customer agrees that Lender may release information about Customer, its owners’, the Loan Borrower(s)’ and/or
Customer’s Loan to Lender affiliates.

 

Important Notice about Credit Reporting: Lender may report information
about your Loan(s) to credit bureaus and/or consumer reporting agencies in your name or the name of your business organization.
Late payments, missed payments, or other defaults on your Loan(s) may be reflected in your personal credit report or your business
organization’s credit report(s).

 

21. ARBITRATION

 

		1)	Binding Arbitration: The parties hereto agree, upon
demand by any party, to submit any dispute to binding arbitration in accordance with the terms of this Paragraph 19 (the “Arbitration
Program”). Arbitration may be demanded before the institution of a judicial proceeding, or during a judicial proceeding,
but not more than 60 days after service of a complaint, third party complaint, cross-claim, or any answer thereto, or any amendment
to any of such pleadings. A “Dispute” shall include any dispute, claim, or controversy of any kind, in contract or
in tort, legal or equitable, now existing or hereafter arising, relating in any way to any aspect of this agreement, or any other
agreement, document or instrument to which this Arbitration Program is attached or in which it appears or is referenced, or any
related agreements, documents or instruments or any renewal, extension, modification, or refinancing of any indebtedness or obligation
relating to the foregoing, including without limitation, their negotiation, execution, collateralization, administration, repayment,
modification, extension, substitution, formation, inducement, enforcement, default, or termination. This provision is a material
inducement for the parties entering into the transactions relating to this Agreement, DISPUTES SUBMITTED TO ARBITRATION ARE NOT
RESOLVED IN COURT BY A JUDGE OR JURY. TO THE EXTENT ALLOWED BY APPLICABLE LAW, THE PARTIES IRREVOCABLY AND VOLUNTARILY WAIVE ANY
RIGHT THEY MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY DISPUTE ARBITRATED PURSUANT TO THIS ARBITRATION PROGRAM.

 

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		2)	Governing Rules: Any arbitration proceeding will:
(i) be governed by the Federal Arbitration Act (Title 9 of the United States Code), notwithstanding any conflicting choice of
law provision in any of the documents between the parties; and (ii) be conducted by the American Arbitration Association (“AAA”),
or such other administrator as the parties shall mutually agree upon, in accordance with the AAA’s commercial dispute resolution
procedures, unless the claim or counterclaim is at least $1,000,000.00 exclusive of claimed interest, arbitration fees, and costs
in which case the arbitration shall be conducted in accordance with the AAA’s optional procedures for large, complex commercial
disputes (the commercial dispute resolution procedures or the optional procedures for large complex commercial disputes to be
referred to herein, as applicable, as the “Rules”). If there is any inconsistency between the terms hereof and the
Rules, the terms and procedures set forth herein shall control. Arbitration proceedings hereunder shall be conducted at a location
mutually agreeable to the parties, or if they cannot agree, then at a location selected by the AAA in the state of South Dakota.
Any party who fails or refuses to submit to arbitration following a demand by any other party shall bear all costs and expenses
incurred by such other party in compelling arbitration of any Dispute. The arbitrator shall award all costs and expenses of the
arbitration proceeding. Nothing contained herein shall be deemed to be a waiver by any party that is a lender of the protections
afforded to it under 12 U.S.C. §91 or any similar applicable state law.

 

		3)	No Waiver of Provisional Remedies, Self-Help, and Foreclosure:
The arbitration requirement does not limit the right of any party to: (i) foreclose against any real or personal property
collateral; (ii) exercising self-help remedies relating to collateral or proceeds of collateral such as setoff or repossession;
or (iii) obtain provisional or ancillary remedies such as replevin, injunctive relief, attachment, or the appointment of a receiver,
before during or after the pendency of any arbitration proceeding. This exclusion does not constitute a waiver of the right or
any party, including the plaintiff, to submit the controversy or claim to arbitration if any other party contests such action
for judicial relief, including those arising from the exercise of the actions detailed in section (i), (ii), and (iii) of this
paragraph.

 

		4)	Arbitrator Qualifications and Powers: Any arbitration
proceeding in which the amount in controversy is $5,000,000.00 or less will be decided by a single arbitrator selected according
to the Rules, and who shall not render an award of greater than $5,000,000.00. Any Dispute in which the amount in controversy
exceeds $5,000,000.00 shall be decided by majority vote of a panel of three arbitrators; provided however, that all three arbitrators
must actively participate in all hearings and deliberations. Every arbitrator must be a neutral practicing attorney or a retired
member of the state or federal judiciary, in either case with a minimum of ten years’ experience in the substantive law
applicable to the subject matter of the Dispute. The arbitrator will determine whether or not an issue is arbitratable and will
give effect to the statutes of limitation in determining any claim. In any arbitration proceeding the arbitrator will decide (by
documents only or with a hearing at the arbitrator’s discretion) any pre-hearing motions which are similar to motions to
dismiss for failure to state a claim or motions for summary adjudication. The arbitrator shall resolve all Disputes in accordance
with the applicable substantive law and may grant any remedy or relief that a court of such state could order or grant within
the scope hereof and such ancillary relief as is necessary to make effective any award. The arbitrator shall also have the power
to award recovery of all costs and fees, to impose sanctions and to take such other action as the arbitrator deems necessary to
the same extent a judge could pursuant to the Federal Rules of Civil Procedure, the applicable state rules of civil procedure,
or other applicable law. Judgment upon the award rendered by the arbitrator may be entered in any court having jurisdiction. The
institution and maintenance of an action for judicial relief or pursuit of a provisional or ancillary remedy shall not constitute
a waiver of the right of any party, including the plaintiff, to submit the controversy or claim to arbitration if any other party
contests such action for judicial relief.

 

		5)	Discovery: In any arbitration proceeding discovery
will be permitted in accordance with the Rules. All discovery shall be expressly limited to matters directly relevant to the Dispute
being arbitrated and must be completed no later than 20 days before the hearing date. Any requests for an extension of the discovery
periods, or any discovery disputes, will be subject to final determination by the arbitrator upon a showing that the request for
discovery is essential for the party’s presentation and that no alternative means for obtaining information is available.

 

		6)	Class Proceedings and Consolidations: No party shall
be entitled to join or consolidate disputes by or against others in any arbitration, except parties to this Agreement, or to include
in any arbitration any dispute as a representative or member of a class, or to act in any arbitration in the interest of the general
public or in a private attorney general capacity.

 

		7)	Miscellaneous: To the maximum extent practicable,
the AAA, the arbitrators, and the parties shall take all action required to conclude any arbitration proceeding within 180 days
of the filing of the Dispute with the AAA. No arbitrator or other party to an arbitration proceeding may disclose the existence,
content or results thereof, except for disclosures of information by a party required in the ordinary course of its business or
by applicable law or regulation. If more than one agreement for arbitration by or between the parties potentially applies to a
Dispute, the arbitration provision most directly related to the documents between the parties or the subject matter of the Dispute
shall control. This arbitration provision shall survive the repayment of the obligations that are the subject of this agreement
and the termination, amendment, or expiration of any of the documents or any relationship between the parties.

 

		8)	SBA Arbitration: The parties specifically agree
that the provisions of the Arbitration Program set forth above are not applicable to any dispute between any party and the U.S.
Small Business Administration (the “SBA”), including but not limited to, any dispute with the SBA after purchase of
the loan by the SBA.

 

22. SMALL BUSINESS
ADMINISTRATION (SBA)

 

When SBA is the holder, this Agreement will be interpreted and
enforced under federal law, including SBA regulations. Lender or SBA may use state or local procedures for filing papers, recording
documents, giving notice, foreclosing liens, and other purposes. By using such procedures, SBA does not waive any federal immunity
from state or local control, penalty, tax or liability. As to this Agreement, Borrower may not claim or assert against SBA any
local or state law to deny any obligation, defeat any claim of SBA, or preempt federal law.

 

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24. FACSIMILE AND COUNTERPARTS

 

This document may be signed in any number of separate copies,
each of which shall be effective as an original, but all of which taken together shall constitute a single document. This Agreement
shall be valid, binding, and enforceable against a party when executed by an authorized individual on behalf of the party by means
of (i) an electronic signature that complies with the federal Electronic Signatures in Global and National Commerce Act, state
enactments of the Uniform Electronic Transactions Act, or any other relevant and applicable electronic signatures law; (ii) an
original manual signature; or (iii) a faxed, scanned, or photocopied manual signature. Each electronic signature or faxed, scanned,
or photocopied manual signature shall for all purposes have the same validity, legal effect, and admissibility in evidence as an
original manual signature.

 

25. TELEPHONE MONITORING AND CONTACTING YOU

 

The Lender may monitor or record calls. You agree, in order
for Lender to service the Loan or to collect any amounts you may owe, that Lender may from time to time make calls and send text
messages to you, using prerecorded/artificial voice messages and/or through the use of an automatic dialing device, at any telephone
number associated with your account, including mobile telephone numbers that could result in charges to you. You also expressly
consent to Lender sending email messages regarding your Loan to your email address.

 

26. FINAL AGREEMENT

 

The persons and entities signing below (“Party”, or
collectively, the “Parties”) acknowledge and agree that each Party’s execution of this Agreement constitutes acknowledgment
that such Party (i) agrees that there are no oral agreements relating to this Agreement, (ii) agrees that agreements will be binding
upon Lender only if in writing and signed by Lender, and (iii) acknowledges receipt of the following Notice, and to the fullest
extent allowed by law, agrees to be bound by the terms of this Agreement and this Notice.

 

Notice: This Document And All Other Documents Relating To This
Loan Constitute A Written Loan Agreement Which Represents The Final Agreement Between The Parties And May Not Be Contradicted By
Evidence Of Prior, Contemporaneous, Or Subsequent Oral Agreements Of The Parties. There Are No Unwritten Oral Agreements Between
The Parties Relating To This Loan.

 

27. TIME IS OF THE
ESSENCE. Time is of the essence in the performance of the Agreement.

 

28. JOINT AND SEVERAL
LIABILITY. The obligations of each Borrower shall be joint and several.

 

29. STATE SPECIFIC
PROVISIONS.

 

If Borrower is resident of Delaware, Pennsylvania, or Maryland:

 

Confession Of Judgment. The Undersigned Hereby Irrevocably
Authorizes And Empowers Any Attorney-At-Law To Appear In Any Court Of Record And To Confess Judgment Against The Undersigned For
The Unpaid Amount Of This Note As Evidenced By An Affidavit Signed By An Officer Of Lender Setting Forth The Amount Then Due, Together
With All Indebtedness provided For Therein (With Or Without Acceleration Of Maturity), Plus Attorneys’ Fees Of Ten Percent
(10%) Of The Total Indebtedness or Five Thousand Dollars ($5,000.00), Whichever Is The Larger Amount For The Collection, Which Borrower
And Lender Agree Is Reasonable, Plus Costs of Suit, And To Release All Errors, And Waive All Rights Of Appeal. The Undersigned Expressly
Releases All Errors, Waives All Stay Of Execution, Rights Of Inquisition And Extension Upon Any Levy Upon Real Estate And All Exemption
Of Property From Levy And Sale Upon Any Execution Hereon; And The Undersigned Expressly Agrees To Condemnation And Expressly Relinquishes
All Rights To Benefits Or Exemptions Under Any And All Exemption Laws Now In Force Or Which May Hereafter Be Enacted. No Single
Exercise Of The Foregoing Warrant And Power To Confess Judgment Will Be Deemed To Exhaust The Power, Whether Or Not Any Such Exercise
Shall Be Held By Any Court To Be Invalid, Voidable Or Void; But The Power Will Continue Undiminished And May Be Exercised From
Time To Time As Lender May Elect Until All Amounts Owing On This Note Have Been Paid In Full. The Undersigned Hereby Waives And
Releases Any And All Claims Or Causes Of Action Which The Undersigned Might Have Against Any Attorney Acting Under The Terms Of
Authority Which The Undersigned Has Granted Herein Arising Out Of Or Connected With The Confession Of Judgment Hereunder.

 

If Borrower is resident of Ohio:

 

Confession Of Judgment. The Undersigned Hereby Irrevocably
Authorizes And Empowers Any Attorney-At-Law To Appear In Any Court Of Record And To Confess Judgment Against The Undersigned For
The Unpaid Amount Of This Note As Evidenced By An Affidavit Signed By An Officer Of Lender Setting Forth The Amount Then Due,
Together With All Indebtedness Provided For Therein (With Or Without Acceleration Of Maturity), Plus Attorneys’ Fees Of
Ten Percent (10%) Of The Total Indebtedness Or Five Thousand Dollars ($5,000.00), Whichever Is The Larger Amount For The Collection,
Which Borrower And Lender Agree Is Reasonable, Plus Costs Of Suit, And To Release All Errors, And Waive All Rights Of Appeal.
The Undersigned Expressly Releases All Errors, Waives All Stay Of Execution, Rights Of Inquisition And Extension Upon Any Levy
Upon Real Estate And All Exemption Of Property From Levy And Sale Upon Any Execution Hereon; And The Undersigned Expressly Agrees
To Condemnation And Expressly Relinquishes All Rights To Benefits Or Exemptions Under Any And All Exemption Laws Now In Force
Or Which May Hereafter Be Enacted. No Single Exercise Of The Foregoing Warrant And Power To Confess Judgment Will Be Deemed To
Exhaust The Power, Whether Or Not Any Such Exercise Shall Be Held By Any Court To Be Invalid, Voidable Or Void; But The Power
Will Continue Undiminished And May Be Exercised From Time To Time As Lender May Elect Until All Amounts Owing On This Note Have
Been Paid In Full. The Undersigned Hereby Waives And Releases Any And All Claims Or Causes Of Action Which The Undersigned Might
Have Against Any Attorney Acting Under The Terms Of Authority Which The Undersigned Has Granted Herein Arising Out Of Or Connected
With The Confession Of Judgment Hereunder.

 

    7

     

    

 

WARNING--BY SIGNING THIS PAPER YOU GIVE UP YOUR RIGHT TO NOTICE
AND COURT TRIAL. IF YOU DO NOT PAY ON TIME, A COURT JUDGMENT MAY BE TAKEN AGAINST YOU WITHOUT YOUR PRIOR KNOWLEDGE AND THE POWERS
OF A COURT CAN BE USED TO COLLECT FROM YOU REGARDLESS OF ANY CLAIMS YOU MAY HAVE AGAINST THE CREDITOR WHETHER FOR RETURNED GOODS,
FAULTY GOODS, FAILURE ON HIS PART TO COMPLY WITH THE AGREEMENT, OR ANY OTHER CAUSE

 

If Borrower is resident of Virginia:

 

Confession Of Judgment. In The Event Of Any Default
Under This Instrument, Including, But Not Limited To Any Payment Under This Instrument Not Being Paid When Due, Whether At Maturity,
By Acceleration Or Otherwise, Borrower Hereby Irrevocably Appoints And Constitutes Dawn Dibenedetto Whose Address Is 400 N 8Th
Street, Suite 1150, Richmond, VA 23219, Borrower’s Duly Constituted Attorney-In-Fact To Appear In The Clerk’s Office
Of The Circuit Court For City Of Richmond, Virginia Or In Any Other Court Of Competent Jurisdiction, And To Confess Judgment Pursuant
To The Provisions Of Section 8.01-432 Of The Code Of Virginia Of 1950, As Amended, Against Borrower For All Principal And Interest
And Any Other Amounts Due And Payable Under This Instrument As Evidenced By An Affidavit Signed By An Officer Of The Lender Setting
Forth The Amount Then Due, Together With Attorney’s Fees And Collection Fees As Provided In This Instrument (To The Extent
Permitted By Law). This Power Of Attorney Is Coupled With An Interest And May Not Be Terminated By Borrower And Shall Not Be Revoked
Or Terminated By Borrower And Shall Not Be Revoked Or Terminated By Borrower’s Death, Disability Or Dissolution. If A Copy
Of The Instrument, Verified By Affidavit, Shall Have Been Filed In The Above Clerk’s Office, It Will Not Be Necessary To
File The Original As A Warrant Of Attorney. Borrower Releases All Errors And Waives All Rights Of Appeal, Stay Of Execution, And
The Benefit Of All Exemption Laws Now Or Hereafter In Effect. Borrower Shall, Upon Lender’s Request, Name Such Additional
Or Alternative Person(S) Designated By Lender As Borrower’s Duly Constituted Attorney(S)-In-Fact To Confess Judgment Against
The Borrower. No Single Exercise Of The Power To Confess Judgment Shall Be Deemed To Exhaust The Power And No Judgment Against
Fewer Then All The Persons Constituting The Borrower Shall Bar Subsequent Action Or Judgment Against Any One Or More Of Such Persons
Against Whom Judgment Has Not Been Obtained In This Instrument.

 

If Borrower is resident of Wisconsin:

 

Each Borrower who is married represents that this obligation
is incurred in the interest of his or her marriage or family.

 

If Borrower is resident of Missouri:

 

Oral or unexecuted agreements or commitments
to loan money, extend credit or to forbear from enforcing repayment of a debt including promises to extend or renew such debt are
not enforceable, regardless of the legal theory upon which it is based that is in any way related to the credit agreement. To protect
you, the Borrower(s), and us, the Lender, from misunderstanding or disappointment, any agreements we reach covering such matters
are contained in this writing, which is the complete and exclusive statement of the agreement between us, except as we may later
agree in writing to modify it.

 

If Borrower is resident of Illinois:

 

Borrower Agrees That Borrower, This Note And All Other Documents
Executed In Connection Herewith, Regardless Of The Choice Of Law Made By Lender/Holder, Shall Be Governed By The Provisions Of
The Credit Agreements Act (As Enacted By And Interpreted In The State Of Illinois) (815 Ilcs 160 Et. Seq.) And As That Act May
Be Amended From Time To Time.

 

If Borrower is resident of Oregon:

 

Under Oregon Law, Most Agreements, Promises And Commitments
Made By Lender Concerning Loans And Other Credit Extensions Which Are Not For Personal, Family, Or Household Purposes Or Secured
Solely By Grantor’s/Borrower’s Residence Must Be In Writing, Express Consideration And Be Signed By An Authorized Representative
Of Lender To Be Enforceable.

 

    8

     

    

 

If Borrower is resident of Washington:

 

Oral Agreements Or Oral Commitments To Loan Money, Extend Credit,
Or To Forbear From Enforcing Repayment Of A Debt Are Not Enforceable Under Washington Law.

 

	Wells Fargo Bank, National Association	 
	 	 
	By	 
		 
	Name	 
	 	 
	Division Lending Manager	 
	Title	 
	 	 
	05/03/2020	 
	Date	 

 

    9

     

    

 

Borrower Acknowledgement and Acceptance

 

By signing below, and intending to be legally bound, Borrower
acknowledges receipt of the Agreement.

 

	Inpixon Federal	 
	 	 
	By	 
		 
	 	 
	Name (Borrower’s Signature)	 
	 	 
	 	 
	Title (Borrower’s Title)	 

 

If Borrower is resident of Delaware, Pennsylvania, Ohio,
Maryland or Virginia:

 

		 
	Borrower (Borrower’s Name)	 
	 	 
	Wells Fargo Bank, National Association	 
	Lender	 
	 	 
	05/03/2020 | 9:06:26 AM PDT	 
	Date	 

 

Disclosure for Confession of Judgment

 

I/We have executed a Promissory Note (the “Note”)
obligating Borrower to repay the amount described therein.

 

		 	 	 	 
	Initials	 	Initials	 	Initials

 

I/We understand that the Note contains wording that would permit
Lender to enter judgment against Borrower in Court, without advance notice to Borrower and without offering Borrower an opportunity
to defend against the entry of judgment, and that the judgment may be collected immediately by any legal means.

  

		 	 	 	 
	Initials	 	Initials	 	Initials

 

In executing the Note, Borrower is knowingly, understandingly
and voluntarily waiving its rights to resist the entry of judgment against it at the courthouse, including any right to advance
notice of the entry of, or execution upon, said judgment, and Borrower is consenting to the confession of judgment.

 

		 	 	 	 
	Initials	 	Initials	 	Initials

 

 

10

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