Document:

Exhibit

AMENDED AND RESTATED 
INVESTMENT ADVISORY AGREEMENT

among

DME ADVISORS, LP,

THE VENTURE AMONG
GREENLIGHT REINSURANCE, LTD.,
GREENLIGHT REINSURANCE IRELAND, DESIGNATED ACTIVITY COMPANY,
AND
DME ADVISORS, LLC,

GREENLIGHT REINSURANCE, LTD.,

GREENLIGHT REINSURANCE IRELAND, DESIGNATED ACTIVITY COMPANY

and

DME ADVISORS, LLC

January 1, 2017

AMENDED AND RESTATED INVESTMENT ADVISORY AGREEMENT (the “Agreement”), dated as of September 30, 2016 and effective as of January 1, 2017, by and among DME ADVISORS, LP, a Delaware limited partnership (the “Investment Advisor”), the VENTURE AMONG GREENLIGHT REINSURANCE, LTD., GREENLIGHT REINSURANCE IRELAND, DESIGNATED ACTIVITY COMPANY AND DME ADVISORS, LLC (the “Venture”), GREENLIGHT REINSURANCE, LTD., GREENLIGHT REINSURANCE IRELAND, DESIGNATED ACTIVITY COMPANY and DME ADVISORS, LLC (each, a “Participant”, and collectively, the “Participants”).

RECITALS:

The parties hereto desire to amend and restate that certain Investment Advisory Agreement dated as of January 1, 2014, pursuant to which the Venture retained the Investment Advisor to provide certain discretionary advisory services relating to the assets and liabilities of the Venture, and the Investment Advisor accepted such appointment, all subject to the terms and conditions hereinafter set forth.  

AGREEMENT:

In consideration of the premises and the mutual covenants and the agreements herein set forth, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

1.    Investment Program; Authority and Duties of the Investment Advisor.

		
	(a)
	Investment Program.  Subject to the provisions of clauses (e), (f) and (h) below and in accordance with the investment objectives, policies, guidelines and restrictions that from time to time are set forth in the Third Amended and Restated Agreement dated January 1, 2017 (the “Venture Agreement”, capitalized terms used but not otherwise defined herein have the meanings given to them in the Venture Agreement) by and among Greenlight Reinsurance, Ltd., Greenlight Reinsurance Ireland, Designated Activity Company, Greenlight Capital Re, Ltd. (for limited purposes), DME Advisors, LLC (“DME”) and DME Advisors, LP (“DMELP”) (for limited purposes), or that are otherwise communicated to the Investment Advisor by DME (and subject, in each case, to any limitations otherwise set forth in this Agreement), the Investment Advisor shall be empowered, on a non-exclusive basis, to (i) formulate the overall investment strategy to be carried out by the Venture (and the limited related borrowing activities of the Venture in order to implement such strategy) and (ii) exercise full discretion in the management of the trading, investment transactions and related borrowing activities of the Venture in order to implement such strategy.

		
	(b) 
	Authority of Investment Advisor.  Subject to the limitations contained elsewhere in this Agreement and in the Venture Agreement, Investment Advisor may execute, deliver and perform all contracts, agreements and other undertakings and engage in all activities and transactions as may, in the reasonable discretion of 

Investment Advisor, be necessary or advisable to carry out the objectives of this Agreement and the Venture Agreement (including without limitation all federal securities filings relating to any of the investment activities set forth in this Section 1), provided, however, that if a contract, agreement or other undertaking is or is to be made by Investment Advisor on behalf of Greenlight Re and/or GRIL that could reasonably be expected to require disclosure on a Form 8-K pursuant to Section 13 or 15(d) of the United States Securities Exchange Act of 1934, as amended, or other applicable law, Investment Advisor shall promptly notify Greenlight Re and/or GRIL and cooperate with Greenlight Re and/or GRIL to allow a timely and proper disclosure to be made.

		
	(c) 
	Power of Attorney.  Subject to the provisions of clauses (d), (e), (f) and (h) below, in furtherance of the foregoing, the Venture hereby designates and appoints Investment Advisor as agent and attorney-in-fact, with full power and authority and without the need for further approval of the Venture or any Participant (except as may be required by applicable law) to have the exclusive power on behalf of the Venture and the Participants to:

		
	(i) 
	effect any and all transactions in equity and debt securities (including derivatives thereon), currencies and commodities (and options, futures, derivatives, swaps, and forward contracts thereon), trade and other claims, arbitrages, loans, break-ups, consolidations, reorganizations and similar securities of non-United States issuers, and everything connected therewith in the broadest sense (“Securities”);

		
	(ii) 
	determine all matters relating to the manner, method and timing of investment transactions and to engage consultants and analysts in connection therewith; 

		
	(iii) 
	select brokers (including prime brokers), custodians, dealers, banks and other intermediaries by or through whom such investment transactions will be executed or carried out;

		
	(iv) 
	make short sales;

		
	(v) 
	purchase or write options (including uncovered options);

		
	(vi) 
	trade on margin;

		
	(vii) 
	draw funds and direct banks, brokers or other custodians to effect deliveries of funds or assets, but only in the course of effecting investment transactions for the account of the Venture and its Participants; 

		
	(viii) 
	exercise all voting and other powers and privileges attributable to any Securities or other property held for the account of the Venture and its Participants hereunder; and

		
	(ix) 
	make and execute all such documents and to take all such other actions as Investment Advisor considers necessary or appropriate to carry out its investment advisory duties hereunder, including, without limitation, opening brokerage (including prime brokerage) accounts, bank accounts, futures accounts, custody accounts and other similar accounts, and any other required documentation including, without limitation, swaps, securities, lending arrangements and similar agreements on behalf of the Venture and its Participants.

		
	(d) 
	Creation of Entities.  Investment Advisor may, with the prior written consent (which includes email) of Greenlight Re or GRIL, as applicable (which consent may not be unreasonably withheld), effectuate the foregoing through one or more corporations, partnerships, limited liability companies or other entities formed on behalf of the Venture (an "Entity").  For purposes of providing such consent, Greenlight Re or GRIL, as applicable, shall designate an authorized representative (and a substitute authorized representative in the event that the first authorized representative is unavailable) each of whom have the authority to provide such consent.  A failure of an authorized representative to consent or reject the formation and use of an Entity in connection with a proposed transaction within twenty-four (24) hours of receipt of a written request (via electronic mail or otherwise) for approval from Investment Advisor shall be deemed consent.

		
	(e) 
	Exclusive Delegation of Certain Rights.  Notwithstanding any provision of this Agreement to the contrary, it is the express intention of the parties, and the parties acknowledge and agree, that until the termination of this Agreement for any reason as provided in Section 9 hereof:

		
	(i)  
	Investment Advisor shall have, to the exclusion of the Venture and the Participants, sole voting power with respect to the Securities;

		
	(ii)  
	in no event shall the Venture or any Participant have any right, power, authority or ability, whether direct or indirect, to vote or act by consent with respect to any Security, or to direct or influence any such vote or action by consent;

		
	(iii)  
	Investment Advisor shall have, to the exclusion of the Venture and the Participants, sole investment and dispositive power with respect to the Securities; and

		
	(iv)  
	in no event shall the Venture or any Participant have any right, power, authority or ability, whether direct or indirect, to invest in or dispose of any Security, or to direct or influence any such investment or disposition.

		
	(f) 
	Certain Limitations.  Notwithstanding anything to the contrary in this Agreement, Investment Advisor shall use commercially reasonable efforts to avoid engaging in any activity or taking any action that would cause Greenlight Re or GRIL to be treated as engaged in a U.S. trade or business for U.S. federal income tax purposes, including investing in any asset that (i) does not qualify for the trading safe harbor provided in Section 864(b)(2) of the Code and the Treasury Regulations promulgated thereunder, or (ii) would be considered a United States real property interest for purposes of Section 897 of the Code.  

		
	(g) 
	Certain Considerations in Selecting Brokers, Etc.  In connection with the transactions contemplated by this Agreement, the Venture and the Participants acknowledge and agree that in the course of selecting brokers, dealers, banks and financial intermediaries to effect such transactions, Investment Advisor may agree to such commissions, fees and other charges as it shall deem reasonable under the circumstances, taking into consideration all such factors as Investment Advisor 

deems relevant, including the following:  the ability to effect prompt and reliable executions at favorable prices; the operational efficiency with which transactions are effected; the financial strength, integrity and stability of the broker; the quality, comprehensiveness and frequency of available research and other services considered to be of value (even if such research and other services are not for the exclusive benefit of the accounts of the Venture and its Participants); and the competitiveness of commission rates in comparison with other brokers satisfying Investment Advisor’s other selection criteria.  It is understood that the costs of such services will not necessarily represent the lowest costs available and that Investment Advisor is under no obligation to combine or arrange orders so as to obtain reduced charges.

		
	(h) 
	Guidelines.  Notwithstanding any provision of this Agreement to the contrary, Investment Advisor hereby agrees to follow:

		
	(i) 
	the investment guidelines of Greenlight Re attached to the Venture Agreement from time to time as Exhibit A-1 (the “Greenlight Re Guidelines”), solely with respect to Assets in which Greenlight Re has an interest, and only to the extent of Greenlight Re’s interest in each such Asset, as the Greenlight Re Guidelines may be amended from time to time by the Board of Greenlight Re, and provided in writing to Investment Advisor or DME; and 

		
	(ii) 
	the investment guidelines of GRIL attached to the Venture Agreement from time to time as Exhibit A-2 (the “GRIL Guidelines”, and together with the Greenlight Re Guidelines, the “Guidelines”), solely with respect to Assets in which GRIL has an interest, and only to the extent of GRIL’s interest in each such Asset, as the GRIL Guidelines may be amended from time to time by the Board of GRIL and provided in writing to Investment Advisor or DME.  

For the avoidance of doubt, the Parties hereby acknowledge and agree that (x) the Greenlight Re Guidelines do not apply to any Assets in which Greenlight Re does not have an interest, and (y) the GRIL Guidelines do not apply to any Assets in which GRIL does not have an interest.  Investment Advisor shall not, except as otherwise approved by Greenlight Re or GRIL in writing, effect any investment transactions for the accounts of such Participant that are inconsistent with the Guidelines applicable to such Participant or other investment restrictions from time to time imposed by applicable regulation (as determined in good faith by the applicable Board) or adopted by the applicable Board; provided that such Guidelines and investment restrictions are communicated in writing to Investment Advisor or DME.  Investment Advisor may designate certain investments as Designated Securities in order to comply with the applicable Guidelines and investment restrictions.

2.    Fees and Expenses.

Investment Advisor shall be entitled to fees and to reimbursement of expenses in accordance with the Fee Schedule annexed hereto.

3.    Other Activities and Investments.

		
	(a)
	Investment Advisor is not required to devote its full time to its duties under this Agreement, but must devote such of its time to such duties as it, in its discretion exercised in good faith, determines to be necessary to conduct the affairs contemplated by this Agreement.  

		
	(b) 
	This Agreement shall not restrict in any way the ability of Investment Advisor or any of its Affiliates to engage in any other business or investment activities.  It is expressly understood that Investment Advisor and its Affiliates may effect investment transactions for their own accounts and for Managed Accounts which may or may not be affiliated with any Participant, and the Venture and the Participants further understand and agree that nothing herein shall restrict the ability of Investment Advisor or its Affiliates to engage in any such transactions notwithstanding the fact that the Venture or Participants may have, by virtue of this Agreement or otherwise, or may take a position of any kind; provided, however, that Investment Advisor shall not, without the prior written consent of the applicable Board, either (i) purchase pursuant to this Agreement any Asset from, or sell pursuant to this Agreement, any Asset to, Investment Advisor or any Managed Account which Investment Advisor or any of its Affiliates is the investment advisor to or is otherwise a beneficial owner of, or (ii) cause the Venture to enter into any transaction that would constitute a “principal transaction” under the U.S. Investment Advisers Act of 1940, as amended; provided further, however, that failure to obtain such prior written consent shall not be deemed a breach of this Agreement if the applicable Board ratifies such purchase or sale after the fact.  Notwithstanding the foregoing, Investment Advisor may cause the Venture and Managed Accounts that invest in parallel therewith to enter into book account trades in the ordinary course of business transferring portions of investments among the Venture and all such Managed Accounts in order to reflect changes in the size of the Venture relative to the size of such Managed Accounts without the need for consent or ratification by the Board of any such trades. 

 
		
	(c)
	It is understood that when Investment Advisor determines that it would be appropriate for the Venture and one or more of Investment Advisor’s (or its Affiliates’) other Managed Accounts to participate in an investment opportunity, Investment Advisor will seek to execute orders for, or otherwise allocate such opportunities to, the Venture and such Managed Accounts on an equitable basis.  In such situations, Investment Advisor may place orders for the Venture and each Managed Account simultaneously and if all such orders are not filled at the same price, Investment Advisor may cause the Venture and each Managed Account to pay or receive the average of the prices at which such orders were filled for the Venture and all other Managed Accounts.  If all such orders cannot be fully 

executed under prevailing market conditions, Investment Advisor may allocate among the Venture and the Managed Accounts the securities traded in a manner which Investment Advisor considers in its reasonable discretion equitable, taking into account the size of the order placed for the Venture and each such Managed Account as well as any other factors which Investment Advisor deems relevant.  However, Investment Advisor is not obligated to devote any specific amount of time to its duties under this Agreement and is not required to accord exclusivity or priority to the Venture or the Participants in the event of limited investment opportunities arising from the application of speculative position limits or other factors.

4.    Account and Other Information.

Investment Advisor shall furnish to DME such information concerning activities undertaken for the Venture’s account pursuant to this Agreement as may reasonably be required in order for DME to comply with its obligations under Section 7.1 of the Venture Agreement.  

5.    Scope of Liability.

The Venture and each Participant agrees that none of Investment Advisor, the general partner of Investment Advisor, or their respective members, partners, managers, directors, officers, employees and agents, and any person or entity who controls Investment Advisor or its general partner (each such person or entity being a “Covered Person”) shall be liable to the Venture or to any of the Participants or their shareholders for any liabilities, obligations, losses, costs, damages, expenses, claims, judgments and reasonable attorney’s fees and expenses (collectively, “Losses”) occasioned by any act or omission of any Covered Person in connection with the performance of such Covered Person’s services hereunder, except that Investment Advisor shall be liable to the Participants:  (a) for any misstatement or omission of material fact contained in a filing made by or on behalf of a Participant under the United States Securities and Exchange Act of 1934 or other federal law or other public disclosure in so far as such losses, damages, expenses or claims arise out of or are based upon any written information provided by such Covered Person regarding the Participants or the Venture expressly for use in such filing or other public disclosure, to the extent (and only to the extent) that such misstatement or omission of a material fact contained in such filing occurs in reliance upon and in conformity with the written information furnished by the Covered Person; (b) for acts or omissions by it which constitute gross negligence, willful misconduct or reckless disregard of Investment Advisor’s obligations under this Agreement; or (c) for breaches of the applicable Guidelines by Investment Advisor which are not cured within 15 days of the earlier of (i) the date on which Investment Advisor becomes aware of such breach, and (ii) the date on which Investment Advisor receives a written notice of such breach from a Participant or an authorized representative of a Participant, in each case as finally determined by a court having proper jurisdiction and after all appeals are resolved or exhausted.

6.    Indemnification.

		
	(a)
	The Venture, and each Participant, to the extent of its interest in the Assets only, shall indemnify and hold harmless each Covered Person from and against any Losses arising out of any claim asserted or threatened to be asserted in connection with any matter arising out of or in connection with this Agreement or the Venture’s business or affairs; provided, however, that no Covered Person shall be entitled to any such indemnification with respect to any expense, loss, liability or damage which was caused by (i) any misstatement or omission of material fact contained in a filing made by or on behalf of a Participant under the United States Securities and Exchange Act of 1934 or other federal law or other public disclosure in so far as such losses, damages, expenses or claims arise out of or are based upon any written information provided by such Covered Person regarding the Participants or the Venture expressly for use in such filing or other public disclosure, to the extent (and only to the extent) that such misstatement or omission of a material fact contained in such filing occurs in reliance upon and in conformity with the written information furnished by the Covered Person, (ii) any Covered Person’s gross negligence, willful misconduct or reckless disregard of any of the its obligations under this Agreement, or (iii) for breaches of the applicable Guidelines by Investment Advisor in connection with its actions under this Agreement which breaches are not cured within 15 days of the earlier of (x) the date on which Investment Advisor becomes aware of such breach, and (y) the date on which Investment Advisor receives a written notice of such breach from a Participant.  The Venture shall advance to any Covered Person the reasonable costs and expenses of investigating and/or defending such claim subject to receiving a written undertaking from the Covered Person to repay such amounts if and to the extent of any subsequent determination by a court or other tribunal of competent jurisdiction that the Covered Person was not entitled to indemnification hereunder.  Notwithstanding the foregoing, no Participant shall be liable hereunder for any settlement of any action or claim effected without its consent thereto, which will not be unreasonably withheld.

		
	(b)
	All transactions effected pursuant to this Agreement by Investment Advisor shall be for the Participants’ accounts and risk.  Investment Advisor has not made and makes no guarantee whatsoever as to the success or profitability of Investment Advisor’s trading methods and strategies, and the Participants each acknowledge that it has received no such guarantee from Investment Advisor or any Covered Person, and has not entered into this Agreement in consideration of or in reliance upon any such guarantee or similar representation from Investment Advisor or any Covered Person.

		
	(c)
	Investment Advisor shall indemnify and hold harmless the Venture and each of the Participants against any Losses which were caused by:  (i) any misstatement or omission of material fact contained in a filing made by or on behalf of a Participant under the United States Securities and Exchange Act of 1934 or other federal law or other public disclosure in so far as such losses, damages, expenses 

or claims arise out of or are based upon any written information provided by Investment Advisor regarding the Participants or the Venture expressly for use in such filing or other public disclosure, to the extent (and only to the extent) that such misstatement or omission of a material fact contained in such filing occurs in reliance upon and in conformity with the written information furnished by Investment Advisor; (ii) Investment Advisor’s fraud, gross negligence, willful misconduct or reckless disregard of any of Investment Advisor’s obligations under this Agreement; (iii) for breaches of the applicable Guidelines by Investment Advisor in connection with its duties under this Agreement which breaches are not cured within 15 days of the earlier of (x) the date on which Investment Advisor becomes aware of such breach, and (y) the date on which Investment Advisor receives a notice of such breach from a Participant.

		
	(d)
	The amount which any indemnifying party is required to pay to, or for the benefit of, an indemnified person under this Section 6 will be reduced (including, without limitation, retroactively) by any insurance proceeds which are actually paid by, or on behalf of, the indemnified party in reduction of the related Losses. 

		
	(e)
	If the indemnity provided for in this Section 6 and to which a Covered Person is otherwise entitled is unavailable to such Covered Person in respect of any Losses referred to therein, then the Venture, and each Participant, to the extent of its interest in the Assets only, in lieu of indemnifying such Covered Person, shall contribute to the amount paid or payable by such Covered Person as a result of such Losses in the proportion the total capital of the Participants in the Venture (exclusive of the balance in the Covered Person’s Capital Account (or the Capital Account of DME if the Covered Person is not DME)) bears to the total capital of the Venture (including the balance in Covered Person’s Capital Account (or the Capital Account of DME if the Covered Person is not DME), which contribution shall be treated as an expense of the Venture calculated as if the DME’s Capital Account balance was equal to zero.

7.     Fiduciary Duties; Discretion

		
	(a) 
	To the extent that, at law or in equity, a Covered Person has duties (including fiduciary duties) and liabilities relating thereto to the Venture or to any Participant, such Covered Person acting under this Agreement is not liable to the Venture or to any Participant for its good faith reliance on the provisions of this Agreement.  The provisions of this Agreement, to the extent that they restrict the duties and liabilities of a Covered Person otherwise existing at law or in equity, are agreed by the parties hereto to replace such other duties and liabilities of such Covered Person.

		
	(b) 
	To the fullest extent permitted by law, unless otherwise expressly provided for herein, (i) whenever a conflict of interest exists or arises between Investment Advisor or any of its Affiliates, on the one hand, and the Venture or any of the other Participants on the other hand, or (ii) whenever this Agreement or any other 

agreement contemplated herein or therein provides that Investment Advisor must act in a manner which is, or provide terms which are, fair and reasonable, Investment Advisor must resolve such conflict of interest, take such action or provide such terms, considering in each case the relative interest of each party, including its own interest, to such conflict, agreement, transaction or situation and the benefits and burdens relating to such interests, any customary or accepted industry practices, and any applicable generally accepted accounting practices or principles.  In the absence of bad faith by Investment Advisor, the resolution, action or terms so made, taken or provided by Investment Advisor do not constitute a breach of this Agreement or any other agreement contemplated herein or of any duty or obligation of Investment Advisor at law or in equity or otherwise.

		
	(c) 
	To the fullest extent permitted by law, except as provided elsewhere in this Agreement, whenever in this Agreement a Person is permitted or required to make a decision (i) in its “sole discretion” or under a grant of similar authority or latitude, such Person is entitled to consider only such interests and factors as it desires, including its own interests, and has no duty or obligation to give any consideration to any interest of or factors affecting the Venture or the Participants, or (ii) in its “good faith” or under another express standard, then such Person acts under such express standard and is not subject to any other or different standards imposed by this Agreement or any other agreement contemplated herein or by relevant provisions of law or in equity or otherwise.

8.    Board of Directors Meetings.

At the request of a Participant and subject to reasonable prior notice, Investment Advisor shall endeavor to make one of Investment Advisor’s representatives available to attend the meetings of the Board of such Participant to report on Investment Advisor’s activities and on other matters pertaining to Investment Advisor’s engagement hereunder.

9.    Term; Termination; Renewal.

This Agreement has a term beginning on the date of this Agreement and expiring on the date on which the term of the Venture Agreement expires or terminates for any reason.  Upon any termination of this Agreement or upon a termination of the Venture Agreement for Greenlight Re Cause or GRIL Cause, the Investment Advisor will use all commercially reasonable efforts to follow the direction of the Greenlight Re Board or the GRIL Board, as applicable, with respect to the disposition of the applicable Assets necessary to satisfy Greenlight Re’s or GRIL’s withdrawal; provided, however, that neither the Investment Advisor or nor DME makes any guarantee that they can comply with such directions.

10.    Amendment; Modification; Waiver.

This Agreement may be amended, in whole or in part, with the written consent of the Investment Advisor and all of the Participants.

11.    Binding Effect; Assignment.

This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors, but the rights and obligations hereunder shall not, except as otherwise expressly provided herein, be assignable, transferable or delegable without the written consent of the other party hereto and any attempted assignment, transfer or delegation thereof without such consent shall be void.  The foregoing shall not prevent an assignment by Investment Advisor in connection with any transaction that does not result in a change of its actual control or management.

12.    Governing Law; Submission to Jurisdiction.

		
	(a)
	This Agreement shall be governed by and construed in accordance with the substantive laws of the State of New York which are applicable to contracts made and entirely to be performed therein, without regard to the place of performance hereunder.

		
	(b)
	Each party hereto submits to the jurisdiction of any state or federal court sitting in New York, New York in any action arising out of or relating to this Agreement and agrees that all claims in respect of any such action may be heard and determined in any such court.  Each party hereto agrees that a final judgment in any action so brought will be conclusive and may be enforced by action on the judgment or in any other manner provided at law or in equity.  Each party hereto waives any defense of inconvenient forum to the maintenance of any action so brought and waives any bond, surety, or other security that might be required of any other party with respect thereto.

In witness whereof, the parties have executed this Agreement as of the day and year first above written.

THE VENTURE FORMED BY GREENLIGHT REINSURANCE, LTD., GREENLIGHT REINSURANCE IRELAND, DESIGNATED ACTIVITY COMPANY AND DME ADVISORS, LLC

By:  DME Advisors, LLC, authorized signatory

By: /s/ Harry Brandler
    Name: Harry Brandler
     Title: Chief Financial Officer

GREENLIGHT REINSURANCE, LTD.

By: /s/ Tim Courtis
     Name: Tim Courtis
     Title: Chief Financial Officer

GREENLIGHT REINSURANCE IRELAND, DESIGNATED ACTIVITY COMPANY

By: /s/ Tim Courtis
     Name: Tim Courtis
     Title: Chief Financial Officer

DME ADVISORS, LLC
    
By: /s/ Harry Brandler
     Name: Harry Brandler
     Title: Chief Financial Officer

DME ADVISORS, LP
    
By: /s/ Harry Brandler
     Name: Harry Brandler
     Title: Chief Financial Officer

FEE SCHEDULE

1.    Definitions

Capitalized terms used but not otherwise defined in this Fee Schedule shall have the meanings set forth in the Venture Agreement.  

2.    Management Fee

		
	(a)
	As of the first day of each month, the Management Fee for such month shall be debited against the Capital Account of each Participant (other than DME) and paid in cash to Investment Advisor.

		
	(b)
	All applicable Management Fee accrues from the Commencement Date with respect to each Participant and is payable monthly in advance on the first day of the month, based on the Capital Account balance of each such Participant as of the beginning of such month (or on the Commencement Date with respect to such Participant in the case of the first month of this Agreement).  If this Agreement is terminated in accordance with its terms as of a date other than the last day of a month, the Management Fee for the final month shall be prorated to the date of termination.  All payments of the Management Fee to Investment Advisor shall be made without any reduction, deduction or withholding for or on account of any tax (including without limitation, any value added tax), unless required by law.  If reduction, deduction or withholding of any tax (including without limitation, any value added tax) is required by law from any such payment, the sum payable shall be increased as necessary so that after making all required deductions and withholdings, Investment Advisor receives an amount equal to the amount that it would have received had no such deductions or withholdings been made.

(c)    The Venture shall pay all Management Fee to the order of Investment Advisor, via cash payment or wire transfer of immediately available funds.

		
	3.
	Expenses.

		
	(a)
	All expenses incurred directly in connection with transactions effected or positions held for the account of the Venture and its Participants (including, without limitation, custodial fees, brokerage commissions, research costs, market data fees, legal, consulting and auditing fees, interest on debit balances, withholding or transfer taxes) shall be paid or reimbursed by the Venture.  In addition, Investment Advisor shall be entitled to be paid or reimbursed for other out-of pocket expenses (other than its own salary, office rent and other customary general administrative, overhead costs and the costs of maintaining books and records pursuant to Section 7.4 of the Venture Agreement) incurred in the performance of its duties pursuant to this Agreement.  

		
	(b)
	Investment Advisor shall be entitled to use “soft dollars” generated by investments to pay for certain of its own operating and overhead costs, including payment of all or a portion of its costs and expenses of operation to the extent that Investment Advisor, in its reasonable discretion, determines that any such costs and expenses are reasonably related to the investment decision-making process.  Use of “soft dollars” by Investment Advisor as described herein shall not constitute a breach by it of any fiduciary or other duty which Investment Advisor may be deemed to owe to the Venture or any Participant or any Affiliate thereof.

		
	(c)
	If Investment Advisor shall incur any of the expenses for the account or benefit of, or in connection with its activities or those of its Affiliates on behalf of, both the Venture and any Managed Account, Investment Advisor, as appropriate, will allocate such expense among the Venture and each such Managed Account in proportion to the size of the investment made by each of the Venture and each Managed Account in the activity or entity to which the expense relates, or in such other manner as Investment Advisor in good faith considers fair and reasonable.

(d)    Except as provided in paragraphs (a), (b) and (c) of this Section 3, Investment Advisor shall provide its advisory services hereunder at its own expense.Form of Amended and Restated Existing Warrant

 Exhibit 4.1 

FORM OF AMENDED AND RESTATED WARRANT 

THIS WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE “ACT”), OR QUALIFIED UNDER ANY STATE OR FOREIGN SECURITIES LAWS AND MAY NOT BE OFFERED FOR SALE, SOLD, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED OR ASSIGNED UNLESS (I) A REGISTRATION STATEMENT COVERING SUCH
SHARES IS EFFECTIVE UNDER THE ACT AND IS QUALIFIED UNDER APPLICABLE STATE AND FOREIGN LAW OR (II) THE TRANSACTION IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS UNDER THE ACT AND THE QUALIFICATION REQUIREMENTS UNDER APPLICABLE
STATE AND FOREIGN LAW AND, IF THE CORPORATION REQUESTS, AN OPINION SATISFACTORY TO THE CORPORATION TO SUCH EFFECT HAS BEEN RENDERED BY COUNSEL. 

Warrant Certificate No.: 2016 -             

Original Issue Date: October     , 2016 

FOR VALUE RECEIVED, COGINT, INC., a Delaware corporation formerly known as IDI, Inc. (the “Company”), hereby certifies that
                     (the “Holder”) is entitled to purchase from the Company
                     (            ) duly authorized, validly issued, fully
paid and nonassessable shares of Common Stock at a purchase price per share equal to $5.0829, which is the volume-weighted average price per share of the Common Stock for the five (5) trading days immediately preceding September 30, 2016,
as displayed under the heading “Bloomberg VWAP” on Bloomberg page “IDI” (the “Exercise Price”), all subject to the terms, conditions and adjustments set forth below in this Warrant. Certain capitalized terms used
herein are defined in 1 hereof. The Company and the Holder each acknowledge and agree that this Amended and Restated Warrant replaces that certain warrant with the Warrant Certificate No.
             and the original issue date of December 8, 2015. 
 1.
Definitions. As used in this Warrant, the following terms have the respective meanings set forth below: 
 “Aggregate
Exercise Price” means an amount equal to the product of (a) the number of Warrant Shares in respect of which this Warrant is then being exercised pursuant to Section 3 hereof, multiplied by (b) the Exercise
Price. 
 “Board” means the board of directors of the Company. 

“Business Day” means any day, except a Saturday, Sunday or legal holiday, on which banking institutions in the
city of Boca Raton, Florida are authorized or obligated by law or executive order to close. 

 “Common Stock” means the common stock, par value $0.0005 per share,
of the Company, and any capital stock into which such Common Stock shall have been converted, exchanged or reclassified following the date hereof. 

“Common Stock Deemed Outstanding” means, at any given time, the sum of (a) the number of shares of Common Stock
actually outstanding at such time, plus (b) the number of shares of Common Stock issuable upon exercise of Options actually outstanding at such time, plus (c) the number of shares of Common Stock issuable upon conversion or exchange of
Convertible Securities actually outstanding at such time (treating as actually outstanding any Convertible Securities issuable upon exercise of Options actually outstanding at such time), in each case, regardless of whether the Options or
Convertible Securities are actually exercisable at such time; provided, that Common Stock Deemed Outstanding at any given time shall not include shares owned or held by or for the account of the Company or any of its wholly-owned subsidiaries.

 “Company” has the meaning set forth in the preamble. 

“Convertible Securities” means any securities (directly or indirectly) convertible into or exchangeable for
Common Stock, but excluding Options. 
 “Exercise Date” means, for any given exercise of this Warrant,
the date on which the conditions to such exercise as set forth in Section 3 shall have been satisfied at or prior to 5:00 p.m., Boca Raton, Florida time, on a Business Day, including, without limitation, the receipt by the Company
of the Exercise Agreement, the Warrant and the Aggregate Exercise Price.  
 “Exercise Agreement” has
the meaning set forth in Section 3(a)(i). 
 “Exercise Period” has the meaning set forth in Section
2. 
 “Exercise Price” has the meaning set forth in the preamble. 

“Fair Market Value” means, as of any particular date: (a) the volume weighted average of the closing sales
prices of the Common Stock for such day on all domestic securities exchanges on which the Common Stock may at the time be listed; or (b) if there have been no sales of the Common Stock on any such exchange on any such day, the average of the
highest bid and lowest asked prices for the Common Stock on all such exchanges at the end of such day; in each case, averaged over twenty (20) consecutive Business Days ending on the Business Day immediately prior to the day as of which
“Fair Market Value” is being determined; provided, that if the Common Stock is listed on any domestic securities exchange, the term “Business Day” as used in this sentence means Business Days on which such exchange is open
for trading.  
 “Holder” has the meaning set forth in the preamble. 

“Options” means any warrants or other rights or options to subscribe for or purchase Common Stock or Convertible
Securities. 

  
 2 

 “Original Issue Date” means the date on which the Warrant was issued
by the Company. 
 “Person” means any individual, sole proprietorship, partnership, limited liability company,
corporation, joint venture, trust, incorporated organization or government or department or agency thereof.  

“Warrant” means this Warrant and all warrants issued upon division or combination of, or in substitution for,
this Warrant. 
 “Warrant Shares” means the shares of Common Stock or other capital stock of the Company
then purchasable upon exercise of this Warrant in accordance with the terms of this Warrant. 
 2. Term of Warrant. Subject to the terms and
conditions hereof, at any time following the date of approval for listing of the Warrant Shares on the NASDAQ Global Market and prior to 5:00 p.m., Eastern time, on the ten (10) year anniversary of the date hereof or, if such day is not a
Business Day, on the next preceding Business Day (the “Exercise Period”), the Holder of this Warrant may exercise this Warrant for all or any part of the Warrant Shares purchasable hereunder (subject to adjustment as provided
herein). The Company agrees to use commercially reasonably efforts to obtain approval for listing of the Warrant Shares on the NASDAQ Global Market. 
 3.
Exercise of Warrant. 
 (a) Exercise Procedure. This Warrant may be exercised from time to time on any Business Day
during the Exercise Period, for all or any part of the unexercised Warrant Shares, upon: 
 (i) delivery of a duly executed facsimile
copy (or email attachment) of an Exercise Agreement in the form attached hereto as Exhibit A (each, an “Exercise Agreement”), duly completed (including specifying the number of Warrant Shares to be purchased); and 

(ii) payment to the Company of the Aggregate Exercise Price in accordance with Section 3(b). 

(b) Payment of the Aggregate Exercise Price. Payment of the Aggregate Exercise Price shall be made, at the option of the Holder
as expressed in the Exercise Agreement, by the following methods:  
 (i) by delivery to the Company of a certified or official bank
check payable to the order of the Company or by wire transfer of immediately available funds to an account designated in writing by the Company, in the amount of such Aggregate Exercise Price; 

  
 3 

 (ii) by instructing the Company to withhold a number of Warrant Shares then issuable upon
exercise of this Warrant with an aggregate Fair Market Value as of the Exercise Date equal to such Aggregate Exercise Price; 
 (iii) by
surrendering to the Company (x) Warrant Shares previously acquired by the Holder with an aggregate Fair Market Value as of the Exercise Date equal to such Aggregate Exercise Price and/or (y) other securities of the Company having a value
as of the Exercise Date equal to the Aggregate Exercise Price (which value in the case of debt securities shall be the principal amount thereof plus accrued and unpaid interest, in the case of preferred stock shall be the liquidation value thereof
plus accumulated and unpaid dividends and in the case of shares of Common Stock shall be the Fair Market Value thereof); or 
 (iv) any
combination of the foregoing. 
 In the event of any withholding of Warrant Shares or surrender of other equity securities pursuant to clause (ii),
(iii) or (iv) above where the number of shares whose value is equal to the Aggregate Exercise Price is not a whole number, the number of shares withheld by or surrendered to the Company shall be rounded up to the nearest whole share and
the Company shall make a cash payment to the Holder (by delivery of a certified or official bank check or by wire transfer of immediately available funds) based on the incremental fraction of a share being so withheld by or surrendered to the
Company in an amount equal to the product of (x) such incremental fraction of a share being so withheld or surrendered multiplied by (y) in the case of Common Stock, the Fair Market Value per Warrant Share as of the Exercise Date, and, in
all other cases, the value thereof as of the Exercise Date determined in accordance with clause (iii)(y) above. 
 (c) Delivery of
Stock Certificates. Upon receipt by the Company of the Exercise Agreement and payment of the Aggregate Exercise Price (in accordance with Section 3(a) hereof), the Warrant Shares purchased hereunder shall be transmitted by the
Company’s transfer agent to the Holder by crediting the account of the Holder’s or, subject to compliance with Section 6 below, such other Person’s (as designated in the Exercise Agreement) 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 (i) there is an effective registration statement permitting the issuance of
the Warrant Shares to or resale of the Warrant Shares by Holder or (ii) the Warrant Shares are eligible for resale by the Holder without volume or manner-of-sale limitations pursuant to Rule 144 and otherwise by physical delivery within five
(5) Business Days thereafter of a certificate or certificates representing the Warrant Shares issuable upon such exercise, together with cash in lieu of any fraction of a share, as provided in Section 3(d) hereof. In the event a
physical stock certificate or certificates are delivered they shall be, to the extent possible, in such denomination or denominations as the Holder shall reasonably request in the Exercise Agreement and shall be registered in the name of the Holder
or, subject to compliance with Section 6 

  
 4 

 
below, such other Person’s name as shall be designated in the Exercise Agreement. This Warrant shall be deemed to have been exercised and such certificate or certificates of Warrant Shares
shall be deemed to have been issued, and the Holder or any other Person so designated to be named therein shall be deemed to have become a holder of record of such Warrant Shares for all purposes, as of the Exercise Date. 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. 

(d) Fractional Shares. The Company shall not be required to issue a fractional Warrant Share upon exercise of any Warrant. As to
any fraction of a Warrant Share that the Holder would otherwise be entitled to purchase upon such exercise, the Company shall pay to such Holder an amount in cash (by delivery of a certified or official bank check or by wire transfer of immediately
available funds) equal to the product of (i) such fraction multiplied by (ii) the Fair Market Value of one Warrant Share on the Exercise Date. 

(e) Delivery of New Warrant. Unless the purchase rights represented by this Warrant shall have expired or shall have been fully
exercised, the Company shall, at the time of delivery of the certificate or certificates representing the Warrant Shares being issued in accordance with Section 3(c) hereof, deliver to the Holder a new Warrant evidencing the rights of
the Holder to purchase the unexpired and unexercised Warrant Shares called for by this Warrant. Such new Warrant shall in all other respects be identical to this Warrant. Upon receipt of the new Warrant the Holder shall surrender this Warrant to the
Company at its principal executive office.  
 (f) Valid Issuance of Warrant and Warrant Shares; Payment of Taxes. With
respect to the exercise of this Warrant, the Company hereby represents, covenants and agrees: 
 (i) This Warrant is, and any Warrant
issued in substitution for or replacement of this Warrant shall be, upon issuance, duly authorized and validly issued. 
 (ii) All Warrant
Shares issuable upon the exercise of this Warrant pursuant to the terms hereof shall be, upon issuance, and the Company shall take all such actions as may be necessary or appropriate in order that such Warrant Shares are, validly issued, fully paid
and non-assessable, issued without violation of any preemptive or similar rights of any stockholder of the Company and free and clear of all taxes, liens and charges. 

(iii) The Company shall take all such actions as may be necessary to ensure that all such Warrant Shares are issued without violation by the
Company of any applicable law or governmental regulation or any requirements of any domestic securities exchange upon which shares of Common Stock or other securities constituting Warrant Shares may be listed at the time of such exercise (except for
official notice of issuance which shall be immediately delivered by the Company upon each such issuance). 

  
 5 

 (iv) The Company shall use its best efforts to cause the Warrant Shares, immediately upon such
exercise, to be listed on any domestic securities exchange upon which shares of Common Stock or other securities constituting Warrant Shares are listed at the time of such exercise. 

(v) The Company shall pay all expenses in connection with, and all taxes and other governmental charges that may be imposed with respect to,
the issuance or delivery of Warrant Shares upon exercise of this Warrant; provided, that the Company shall not be required to pay any tax or governmental charge that may be imposed with respect to any applicable withholding or the issuance or
delivery of the Warrant Shares to any Person other than the Holder, and no such issuance or delivery shall be made unless and until the Person requesting such issuance has paid to the Company the amount of any such tax, or has established to the
satisfaction of the Company that such tax has been paid. 
 (g) Reservation of Shares. During the Exercise Period, the Company shall
at all times reserve and keep available out of its authorized but unissued Common Stock or other securities constituting Warrant Shares, solely for the purpose of issuance upon the exercise of this Warrant, the maximum number of Warrant Shares
issuable upon the exercise of this Warrant, and the par value per Warrant Share shall at all times be less than or equal to the applicable Exercise Price. The Company shall not increase the par value of any Warrant Shares receivable upon the
exercise of this Warrant above the Exercise Price then in effect, and shall take all such actions as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable shares of Common Stock upon the
exercise of this Warrant. 
 4. Adjustment to Exercise Price and Warrant Shares. 

(a) Upon Dividend, Subdivision or Combination of Common Stock. If the Company shall, at any time or from time to time after the
Original Issue Date, (i) pay a dividend or make any other distribution upon the Common Stock or any other capital stock of the Company payable in shares of Common Stock or in Options or Convertible Securities, or (ii) subdivide (by any
stock split, recapitalization or otherwise) its outstanding shares of Common Stock into a greater number of shares, the Exercise Price in effect immediately prior to any such dividend, distribution or subdivision shall be proportionately reduced and
the number of Warrant Shares issuable upon exercise of this Warrant shall be proportionately increased. If the Company at any time combines (by combination, reverse stock split or otherwise) its outstanding shares of Common Stock into a smaller
number of shares, the Exercise Price in effect immediately prior to such combination shall be proportionately increased and the number of Warrant Shares issuable upon exercise of this Warrant shall be proportionately decreased. Any adjustment
under this Section 4 shall become effective at the close of business on the date the dividend, subdivision or combination becomes effective.  

  
 6 

 (b) Certificate as to Adjustment.  

(i) As promptly as reasonably practicable following any adjustment of the Exercise Price, but in any event not later than five
(5) Business Days thereafter, the Company shall furnish to the Holder a certificate of an executive officer setting forth in reasonable detail such adjustment and the facts upon which it is based and certifying the calculation thereof. 

(ii) As promptly as reasonably practicable following the receipt by the Company of a written request by the Holder, but in any event not later
than five (5) Business Days thereafter, the Company shall furnish to the Holder a certificate of an executive officer certifying the Exercise Price then in effect and the number of Warrant Shares or the amount, if any, of other shares of stock,
securities or assets then issuable upon exercise of the Warrant. 
 (c) Notices. In the event that the Company shall take a
record of the holders of its Common Stock (or other capital stock or securities at the time issuable upon exercise of the Warrant) for the purpose of entitling or enabling them to receive any dividend or other distribution, to vote at a meeting (or
by written consent), to receive any right to subscribe for or purchase any shares of capital stock of any class or any other securities, or to receive any other security, then, and in each such case, the Company shall send or cause to be sent to the
Holder at least ten (10) days prior to the applicable record date or the applicable expected effective date, as the case may be, for the event, a written notice specifying, as the case may be, the record date for such dividend, distribution,
meeting or consent or other right or action, and a description of such dividend, distribution or other right or action to be taken at such meeting or by written consent. 

5. Purchase Rights. In addition to any adjustments pursuant to Section 4 above, if at any time the Company grants, issues or sells any
Common Stock or any other capital stock of the Company 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 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. 
 6. 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 

  
 7 

 
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 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. 
 7. Transfer of Warrant. Subject to the transfer conditions referred to in the legend endorsed hereon, this Warrant and all
rights hereunder are transferable, in whole or in part, by the Holder without charge to the Holder, upon surrender of this Warrant to the Company at its then principal executive offices with a properly completed and duly executed assignment in the
form attached hereto as Exhibit B, together with funds sufficient to pay any transfer taxes in connection with the making of such transfer. Upon such compliance, surrender and delivery and, if required, such payment, the Company shall execute
and deliver a new Warrant or Warrants in the name of the assignee or assignees and in the denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant, if any, not so
assigned and this Warrant shall promptly be cancelled. 
 8. Holder Not Deemed a Stockholder; Limitations on Liability. Except as otherwise
specifically provided herein, prior to the issuance to the Holder of the Warrant Shares to which the Holder is then entitled to receive upon the due exercise of this Warrant, the Holder, solely by virtue of holding this Warrant, shall not be
entitled to vote or receive dividends or be deemed the holder of shares of capital stock of the Company for any purpose, nor shall anything contained in this Warrant be construed to confer upon the Holder, as such, any of the rights of a stockholder
of the Company or any right to vote, give or withhold consent to any corporate action (whether any reorganization, issue of stock, reclassification of stock, consolidation, merger, conveyance or otherwise), receive notice of meetings, receive
dividends or subscription rights or otherwise. In addition, nothing contained in this Warrant shall be construed as imposing any liabilities on the Holder to purchase any securities (upon exercise of this Warrant or otherwise) or as a stockholder of
the Company, whether such liabilities are asserted by the Company or by creditors of the Company. 
 9. Replacement on Loss; Division and
Combination. 
 (a) Replacement of Warrant on Loss. Upon receipt of evidence reasonably satisfactory to the Company of the
loss, theft, destruction or mutilation of this Warrant and upon delivery of an indemnity reasonably satisfactory to it (it being understood that a  

  
 8 

 
written indemnification agreement or affidavit of loss of the Holder shall be a sufficient indemnity and which shall not include the posting of any bond) and, in case of mutilation, upon
surrender of such Warrant for cancellation to the Company, the Company at its own expense shall execute and deliver to the Holder, in lieu hereof, a new Warrant of like tenor and exercisable for an equivalent number of Warrant Shares as the Warrant
so lost, stolen, mutilated or destroyed; provided, that, in the case of mutilation, no indemnity shall be required if this Warrant in identifiable form is surrendered to the Company for cancellation. 

(b) Division and Combination of Warrant. Subject to compliance with the applicable provisions of this Warrant as to any transfer
or other assignment which may be involved in such division or combination, this Warrant may be divided or, following any such division of this Warrant, subsequently combined with other Warrants, upon the surrender of this Warrant or Warrants to the
Company at its then principal executive offices, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by the respective Holders or their agents or attorneys. Subject to compliance with
the applicable provisions of this Warrant as to any transfer or assignment which may be involved in such division or combination, the Company shall at its own expense execute and deliver a new Warrant or Warrants in exchange for the Warrant or
Warrants so surrendered in accordance with such notice. Such new Warrant or Warrants shall be of like tenor to the surrendered Warrant or Warrants and shall be exercisable in the aggregate for an equivalent number of Warrant Shares as the Warrant or
Warrants so surrendered in accordance with such notice.  
 10. No Impairment. The Company shall not, by amendment of its Certificate of
Incorporation or Bylaws, 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 to
be observed or performed by it hereunder, but shall at all times in good faith assist in the carrying out of all the provisions of this Warrant and in the taking of all such action as may reasonably be requested by the Holder in order to protect the
exercise rights of the Holder against dilution or other impairment, consistent with the tenor and purpose of this Warrant. 
 11. Compliance with the
Securities Act. 
 (a) Agreement to Comply with the Securities Act; Legend. The Holder, by acceptance of this Warrant,
agrees to comply in all respects with the provisions of this Section 11 and the restrictive legend requirements set forth on the face of this Warrant and further agrees that such Holder shall not offer, sell or otherwise dispose of this
Warrant or any Warrant Shares to be issued upon exercise hereof except under circumstances that will not result in a violation of the Securities Act of 1933, as amended (the “Securities Act”). This Warrant and all Warrant Shares
issued upon exercise of this Warrant (unless registered under the Securities Act) shall be stamped or imprinted with a legend in substantially the following form: 

  
 9 

 “THIS WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR QUALIFIED UNDER ANY STATE OR FOREIGN SECURITIES LAWS AND MAY NOT BE OFFERED FOR SALE, SOLD, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED OR ASSIGNED UNLESS
(I) A REGISTRATION STATEMENT COVERING SUCH SHARES IS EFFECTIVE UNDER THE ACT AND IS QUALIFIED UNDER APPLICABLE STATE AND FOREIGN LAW OR (II) THE TRANSACTION IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS UNDER THE ACT AND
THE QUALIFICATION REQUIREMENTS UNDER APPLICABLE STATE AND FOREIGN LAW AND, IF THE CORPORATION REQUESTS, AN OPINION SATISFACTORY TO THE CORPORATION TO SUCH EFFECT HAS BEEN RENDERED BY COUNSEL.” 

(b) Representations of the Holder. In connection with the issuance of this Warrant, the Holder specifically represents, as of
the date hereof, to the Company by acceptance of this Warrant as follows: 
 (i) The Holder is an “accredited investor” as
defined in Rule 501 of Regulation D promulgated under the Securities Act. The Holder is acquiring this Warrant and the Warrant Shares to be issued upon exercise hereof for investment for its own account and not with a view towards, or for resale in
connection with, the public sale or distribution of this Warrant or the Warrant Shares, except pursuant to sales registered or exempted under the Securities Act. 

(ii) The Holder understands and acknowledges that this Warrant and the Warrant Shares to be issued upon exercise hereof are “restricted
securities” under the federal securities laws inasmuch as they are being acquired from the Company in a transaction not involving a public offering and that, under such laws and applicable regulations, such securities may be resold without
registration under the Securities Act only in certain limited circumstances. In addition, the Holder represents that it is familiar with Rule 144 under the Securities Act, as presently in effect, and understands the resale limitations imposed
thereby and by the Securities Act. 
 (iii) The Holder acknowledges that it can bear the economic and financial risk of its investment for
an indefinite period, and has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of the investment in the Warrant and the Warrant Shares. The Holder has had an opportunity to ask
questions and receive answers from the Company regarding the terms and conditions of the offering of the Warrant and the business, properties, prospects and financial condition of the Company. 

12. Warrant Register. The Company shall keep and properly maintain at its principal executive offices books for the registration of the Warrant and any
transfers thereof. The 

  
 10 

 
Company may deem and treat the Person in whose name the Warrant is registered on such register as the Holder thereof for all purposes, and the Company shall not be affected by any notice to the
contrary, except any assignment, division, combination or other transfer of the Warrant effected in accordance with the provisions of this Warrant. 
 13.
Notices. All notices, requests, consents, claims, demands, waivers and other communications hereunder shall be in writing and shall be deemed to have been given: (a) when delivered by hand (with written confirmation of receipt);
(b) when received by the addressee if sent by a nationally recognized overnight courier (receipt requested); (c) on the date sent by e-mail of a PDF document (with confirmation of transmission) if sent during normal business hours of the
recipient, and on the next Business Day if sent after normal business hours of the recipient; or (d) on the third day after the date mailed, by certified or registered mail, return receipt requested, postage prepaid. Such communications must be
sent to the respective parties at the addresses indicated below (or at such other address for a party as shall be specified in a notice given in accordance with this Section 13). 

 

					
	If to the Company:	  	 Cogint, Inc.
 2650 North Military Trail

Suite 300
 Boca Raton, FL 33431

E-mail:                     

Attention: Derek Dubner, Chief Executive Officer
	  	
			
	If to the Holder:	  	 ________________
 ________________

________________
 ________________

Attn:                      

Email:                   

 
 and
  

________________
 ________________

________________
 ________________

Attn:                        

Email:                     
	  	

  
 11 

 14. Cumulative Remedies. Except to the extent expressly provided in Section 8 to the contrary,
the rights and remedies provided in this Warrant are cumulative and are not exclusive of, and are in addition to and not in substitution for, any other rights or remedies available at law, in equity or otherwise. 

15. Equitable Relief. Each of the Company and the Holder acknowledges that a breach or threatened breach by such party of any of its obligations under
this Warrant would give rise to irreparable harm to the other party hereto for which monetary damages would not be an adequate remedy and hereby agrees that in the event of a breach or a threatened breach by such party of any such obligations, the
other party hereto shall, in addition to any and all other rights and remedies that may be available to it in respect of such breach, be entitled to equitable relief, including a restraining order, an injunction, specific performance and any other
relief that may be available from a court of competent jurisdiction. 
 16. Entire Agreement. This Warrant constitutes the sole and entire agreement
of the parties to this Warrant with respect to the subject matter contained herein, and supersedes all prior and contemporaneous understandings and agreements, both written and oral, with respect to such subject matter. 

17. Successor and Assigns. This Warrant and the rights evidenced hereby shall be binding upon and shall inure to the benefit of the parties hereto and
the successors of the Company and the successors and permitted assigns of the Holder. Such successors and/or permitted assigns of the Holder shall be deemed to be a Holder for all purposes hereunder. 

18. No Third-Party Beneficiaries. This Warrant is for the sole benefit of the Company and the Holder and their respective successors and, in the case
of the Holder, permitted assigns and nothing herein, express or implied, is intended to or shall confer upon any other Person any legal or equitable right, benefit or remedy of any nature whatsoever, under or by reason of this Warrant. 

19. Headings. The headings in this Warrant are for reference only and shall not affect the interpretation of this Warrant. 

20. Amendment and Modification; Waiver. Except as otherwise provided herein, this Warrant may only be amended, modified or supplemented by an agreement
in writing signed by each party hereto. No waiver by the Company or the Holder of any of the provisions hereof shall be effective unless explicitly set forth in writing and signed by the party so waiving. No waiver by any party shall operate or be
construed as a waiver in respect of any failure, breach or default not expressly identified by such written waiver, whether of a similar or different character, and whether occurring before or after that waiver. No failure to exercise, or delay in
exercising, any rights, remedy, power or privilege arising from this Warrant shall operate or be construed as a waiver thereof; nor 

  
 12 

 
shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or
privilege. 
 21. Severability. If any term or provision of this Warrant is invalid, illegal or unenforceable in any jurisdiction, such invalidity,
illegality or unenforceability shall not affect any other term or provision of this Warrant or invalidate or render unenforceable such term or provision in any other jurisdiction. 

22. Governing Law. This Warrant shall be governed by and construed in accordance with the internal laws of the State of Delaware without giving effect
to any choice or conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction) that would cause the application of laws of any jurisdiction other than those of the State of Delaware. 

23. Submission to Jurisdiction. Any legal suit, action or proceeding arising out of or based upon this Warrant or the transactions contemplated hereby
may be instituted in the federal courts of the United States of America or the courts of the State of New York in each case located in the County of New York, and each party irrevocably submits to the exclusive jurisdiction of such courts in any
such suit, action or proceeding. Service of process, summons, notice or other document by certified or registered mail to such party’s address set forth herein shall be effective service of process for any suit, action or other proceeding
brought in any such court. The parties irrevocably and unconditionally waive any objection to the laying of venue of any suit, action or any proceeding in such courts and irrevocably waive and agree not to plead or claim in any such court that any
such suit, action or proceeding brought in any such court has been brought in an inconvenient forum. 
 24. Waiver of Jury Trial. Each party
acknowledges and agrees that any controversy which may arise under this Warrant is likely to involve complicated and difficult issues and, therefore, each such party irrevocably and unconditionally waives any right it may have to a trial by jury in
respect of any legal action arising out of or relating to this Warrant or the transactions contemplated hereby. 
 25. Counterparts. This Warrant may
be executed in counterparts, each of which shall be deemed an original, but all of which together shall be deemed to be one and the same agreement. A signed copy of this Warrant delivered by facsimile, e-mail or other means of electronic
transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this Warrant. 
 26. No Strict Construction.
This Warrant shall be construed without regard to any presumption or rule requiring construction or interpretation against the party drafting an instrument or causing any instrument to be drafted. 

  
 13 

 IN WITNESS WHEREOF, the Company has duly executed this Warrant on the Original Issue Date. 

 

			
	COGINT, INC.
		
	By:	 	 /s/ Derek Dubner

	Name:	 	Derek Dubner
	Title:	 	Chief Executive Officer

  
 [Signature Page to
Amended and Restated Warrant] 

									
	 Accepted and agreed,
	 		 		 	
				
	
[                  
          ]
	 		 		 	
		 		 		 		 	
	 By:

Name:

Title:
	 	  
	 		 		 	

  
 [Signature Page to
Amended and Restated Warrant] 

 EXHIBIT A 

EXERCISE NOTICE 

TO BE EXECUTED 
 BY THE
REGISTERED HOLDER TO EXERCISE THIS WARRANT 
 The undersigned holder hereby exercises the right to purchase
                 of the shares of Common Stock (“Warrant Shares”) of
[                                        ]
(the “Company”), evidenced by the attached Warrant (the “Warrant”). Capitalized terms used herein and not otherwise defined herein shall have the respective meanings set forth in the Warrant. 

Payment of Warrant Exercise Price. The Holder shall pay the Aggregate Exercise Price of
$         to the Company in accordance with the provisions of the Warrant. 
 Date:
            ,          
 Name of
Registered Holder 
  

			
	By:	 	  

	Name:	 	  

	Title:	 	  

 EXHIBIT B 

FORM OF WARRANT ASSIGNMENT 

FOR VALUE RECEIVED, the undersigned does hereby assign and transfer to
                    , Federal Identification
No.                     , a warrant to purchase
                 shares of the capital stock of
[                                        ]
represented by warrant certificate no.                 , standing in the name of the undersigned on the books of said corporation. The undersigned does
hereby irrevocably constitute and appoint                     , attorney to transfer the warrants of said corporation, with full power of
substitution in the premises. 
 Dated:                  

 

			
	By:	 	  

	Name:	 	  

	Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00262-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00262-of-00352.parquet"}]]