Document:

Exhibit 10.8

 

EXECUTIVE EMPLOYMENT AGREEMENT

 

This Executive
Employment Agreement (the “Agreement”), is made effective as of the Effective Date (as defined below), between
AeroClean Technologies, Inc. (“Company”), and Ritankar Pal (“Executive”).

 

WHEREAS, Executive is party
to that certain employment agreement with Molekule, Inc. (“Molekule”), dated January 18, 2022, pursuant to which Executive
is employed as Chief Financial Officer of Molekule (the “Original Employment Agreement”);

 

WHEREAS, in connection with
the transactions contemplated by that certain Agreement and Plan of Merger, dated as of the date hereof, entered into by and among Company,
Molekule, and certain other parties named therein (the “Merger Agreement”), Company wishes to employ Executive as its Chief
Operating Officer, and Executive desires to become employed by Company on the terms contained in this Agreement, which will supersede
and replace the Original Employment Agreement in its entirety;

 

NOW, THEREFORE, in consideration
of the mutual promises, terms, provisions, and conditions contained herein, the parties agree as follows:

 

1.                  
Title and Duties. Subject to the terms and conditions of this Agreement, Executive’s position with Company will be
Chief Operating Officer (“COO”), reporting to Company’s Chief Executive Officer. Executive accepts such employment upon
the terms and conditions set forth herein, and agrees to perform to the best of Executive’s ability the duties normally associated
with such position and as reasonably determined by the Company in its sole discretion. While serving as COO hereunder, Executive shall
devote substantially all of Executive’s business time and energies to the business and affairs of Company and shall be subject to,
and shall comply in all material respects with, the policies of Company applicable to Executive. Notwithstanding the foregoing, Executive
may: (i) serve as a member of the board of directors of no more than two (2) other companies with the Board’s prior consent; (ii)
engage in charitable, professional trade association, civic, educational and religious activities, and (iii) manage personal and family
investments, in each case, to the extent such activities, whether individually or in the aggregate, do not materially interfere or conflict
with the performance of Executive’s duties and responsibilities to the Company and provided further that Executive’s services
are not performed for any company that competes with the Company, directly or indirectly. The Company has pre-approved the “Outside
Activities” listed on Exhibit A, and Executive shall provide an updated list of any such activities in the preceding clauses
(i) – (iii) to the Company on an annual basis.

 

2.                  
Term; Termination. 

 

(a)               
Term. Subject to the terms hereof, Executive’s employment hereunder shall commence on the Closing Date (as defined
in the Merger Agreement) (the “Effective Date”) and shall continue until terminated hereunder by either party (such term of
employment shall be referred to herein as the “Term”). Executive’s employment with Company will be on an “at-will”
basis, which means that Executive’s employment is terminable by either Company or Executive at any time for any reason or no reason,
with or without Cause, subject to the provisions of Section 2 hereof. 

 

(b)               
Termination by Company. Notwithstanding anything else contained in this Agreement, Company may terminate Executive’s
employment hereunder as follows:

 

     

     

    

 

(i)                
For Cause. Company may terminate Executive’s employment for Cause (as defined below) by written notice by Company
to Executive that Executive’s employment is being terminated for Cause, which termination shall be effective on the date of such
notice or such later date as specified in writing by Company, provided that if Executive has cured the circumstances giving rise
to Cause (as such cure right may be applicable pursuant to the terms and conditions set forth below) then such termination shall not be
effective.

 

 

 

(ii)              
Without Cause. Company may terminate Executive’s employment without Cause, by written notice by Company to Executive
that Executive’s employment is being terminated without Cause, which termination shall be effective on the date of such notice or
such later date as specified in writing by Company.

 

 

For the purposes of this Agreement,
 “Cause” shall mean: (i) Executive’s conviction of (A) a felony or (B) any misdemeanor involving moral turpitude, deceit,
dishonesty or fraud; (ii) Executive’s willful failure or refusal to comply with lawful directions of the Board of Directors (the
 “Board”), which failure or refusal continues for more than five (5) business days after written notice is given to Executive;
(iii) material breach by Executive of a material written Company policy or under this Agreement, provided Executive does not cure such
breach within five (5) business days after receiving written notice of the alleged breach; or (iv) misconduct by Executive that materially
damages Company or any of its affiliates. Except in the case of (ii) above, it is not necessary that Company’s finding of Cause
occur prior to Executive’s termination of service.

 

(c)               
Termination by Executive. Notwithstanding anything else contained in this Agreement, Executive may terminate Executive’s
employment at any time for any reason or no reason by written notice by Executive to Company that Executive is terminating Executive’s
employment, which termination shall be effective ninety (90) days after the date of such notice.

 

(d)       Termination
Due to Death or Disability. Notwithstanding anything else contained in this Agreement, Company may terminate Executive’s employment
due to Executive’s death or Disability (as defined below) by written notice, which termination shall be effective on the date of
such notice or such later date as specified in writing by Company. For purposes of this Agreement, “Disability” means Executive’s
failure to perform Executive’s duties or Executive’s absence as a result of Executive’s physical or mental disability
for a period of ninety (90) consecutive days or an aggregate of one hundred twenty (120) days in any twelve (12) month period, as determined
by Company.

 

3.                  
Compensation.

 

(a)               
Base Salary. While Executive is employed hereunder, Executive shall earn a base salary at the annual rate of three hundred
thousand dollars ($300,000) (the “Base Salary”). The Base Salary shall be payable in substantially equal periodic installments,
at least on a monthly basis, in accordance with Company’s payroll practices as in effect from time to time. The Base Salary shall
be subject to adjustments from time to time by the Compensation Committee of the Board (the “Compensation Committee”), however,
the Base Salary shall at no time be adjusted below the Base Salary for the preceding year.

 

(b)                Annual
Bonus. Executive shall be eligible to receive an annual performance bonus (the “Annual Bonus”) for all years in
which Executive is employed by Company hereunder. The target Annual Bonus shall be equal to sixty percent (60%) of Executive’s
Base Salary (i.e., one hundred eighty thousand dollars ($180,000)). The amount of Annual Bonus, if any, shall be determined by the
Board in its sole discretion, and may be based on factors such as Executive’s work performance, Company’s financial
performance, Company’s business forecasts, Company’s determination of Executive’s achievement of milestones for
the applicable year, and economic conditions generally. The Annual Bonus shall be paid to Executive no later than March 15th of the
calendar year immediately following the calendar year to which it pertains. Executive must be employed by Company at the time that
the Annual Bonus is paid in order to be eligible for such Annual Bonus.

 

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(c)               
Benefits; Vacation; Principal Place of Business. Executive shall be entitled to participate in all benefit/welfare plans
and any vacation policy provided to employees at the same level as Executive, as in effect from time to time. If a medical insurance plan
is adopted by Company, Company will pay fifty percent (50%) of the cost of Executive’s participation premiums under such plan. Company
will reimburse Executive for lease payments on a company car in an amount up to six hundred fifty dollars ($650) per month for so long
as Company deems such company car to be necessary to Executive to carry out his duties under this Agreement. Executive understands that,
except when prohibited by applicable law, Company’s benefit plans and fringe benefits may be amended by Company from time to time
in its sole discretion. The Executive’s principal place of business is in New York, and he will not be required to move his principal
place of business to a new location that is greater than thirty (30) miles from his current principal place of business.

 

(d)               
Reimbursement of Expenses. Executive shall be entitled to receive prompt reimbursement for all reasonable business expenses
incurred by Executive in performing services hereunder, in accordance with the policies and procedures then in effect and established
by Company for its senior executive officers.

 

4.                  
Termination Payments; Severance Benefits. 

 

(a)               
Payment of Accrued Obligations. Regardless of the reason for any employment termination hereunder, Company shall pay to
Executive: (i) any earned but unpaid Base Salary; and (ii) any unpaid expense reimbursements (the “Accrued Obligations”) promptly
following the effective date of termination, and otherwise within any timeframe required by law. Executive’s entitlement to other
compensation or benefits under any Company plan or policy shall be governed by and determined in accordance with the terms of such plan
or policy, except as otherwise specified in this Agreement. In the event of Company’s termination of Executive’s employment
for Cause or as a result of Executive’s death or Disability, or in the event of Executive’s termination of Executive’s
employment for any reason, Executive shall be eligible for the Accrued Obligations and shall not be eligible for any severance or severance-type
payments.

 

(b)                Severance
in the Event of Termination Without Cause. Subject to the terms and conditions of Section 4(d), in the event that
Executive’s employment hereunder is terminated by Company without Cause then, in addition to the Accrued Obligations, Company
shall pay Executive: (i) an amount equal to continuation of Executive’s monthly Base Salary for a twelve (12) months period,
with such payments to be made in accordance with Company’s normal payroll practices and schedules; and (ii) upon
Executive’s timely election to continue existing health benefits under COBRA, and consistent with the terms of COBRA and
Company’s health insurance plan, Company will continue to pay Company’s then-current dollar level of contribution
towards the premiums of the Executive’s medical and dental coverage as in effect on the date of such termination (including
coverage for Executive’s eligible dependents, if applicable) (“COBRA Premium”) through the period starting on the
date of such termination and ending on the earliest to occur of (1) twelve (12) months after such termination; (2) the date
Executive becomes eligible for group health insurance coverage through a new employer; and (3) the date Executive ceases to be
eligible for COBRA continuation coverage for any reason, including plan termination (such period from such termination through the
earliest of (1) through (3), the “COBRA Premium Period”) ((i) and (ii), collectively, the “Severance
Benefits”). Executive will be responsible for timely paying any remaining portion of the COBRA Premiums in order to maintain
COBRA coverage during the COBRA Premium Period. In the event Executive becomes covered under another employer’s group health
plan or otherwise ceases to be eligible for COBRA during the COBRA Premium Period, Executive must immediately notify Company of such
event. The Severance Benefits are expressly subject to the conditions described above and in Section 4(d) below.

 

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(c)               
Accelerated Vesting in Event of Termination without Cause Following Change of Control. Subject to the terms and conditions
of Section 4(d), in the event that a Change of Control (as defined below) occurs and within a period of one (1) year following the Change
of Control Company terminates Executive’s employment without Cause, then Executive automatically shall become vested in one hundred
percent (100%) of outstanding time-based equity awards granted to Executive by Company.

 

For purposes of this Section,
a “Change of Control” shall mean the occurrence of any of the following events: (i) Ownership. Any “Person”
(as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended) becomes the “Beneficial Owner”
(as defined in Rule 13d-3 under said Act), directly or indirectly, of securities of Company representing fifty percent (50%) or more of
the total voting power represented by Company’s then outstanding voting securities (excluding for this purpose any such voting securities
held by Company, or any affiliate, parent or subsidiary of Company, or by any employee benefit plan of Company) pursuant to a transaction
or a series of related transactions which the Board does not approve; or (ii) Merger/Sale of Assets. (A) A merger or consolidation
of Company whether or not approved by the Board, other than a merger or consolidation which would result in the voting securities of Company
outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities
of the surviving entity or the parent of such corporation) at least fifty percent (50%) of the total voting power represented by the voting
securities of Company or such surviving entity or parent of such corporation, as the case may be, outstanding immediately after such merger
or consolidation; or (B) the sale or disposition by Company of all or substantially all of Company’s assets. Executive acknowledges
and agrees that the transactions contemplated by the Merger Agreement shall not constitute a Change of Control.

 

(d)               
Conditions. Company shall not be obligated to provide Executive any payment, benefit and/or vesting described in Section
4(b) or Section 4(c) unless and until Executive has executed without revocation a separation agreement in a form acceptable to Company,
which must be signed by Executive, returned to Company and be enforceable and irrevocable no later than sixty (60) days following Executive’s
separation from service (the “Review Period”), and which shall include, at a minimum, the provision of separation pay and
benefits due from Company to Executive as applicable, a complete general release of claims against Company and its affiliated entities
and each of their officers, directors and employees, and standard terms relating to non-disparagement, confidentiality, cooperation and
the like. If Executive executes and does not revoke such agreement within the Review Period, then provision of payments, benefits and/or
vesting shall commence on the first (1st) regular payroll date following the Review Period, provided that if the last day of the
Review Period occurs in the calendar year following the year of termination, then the payment shall not commence until on or after January
2 of such subsequent calendar year. The first payment shall include in a lump sum all amounts that were otherwise payable to Executive
from the date of Executive’s separation from service through such first payment.

 

5.                  
Confidentiality, Non-Competition, Non-Solicitation and Inventions Assignment Agreement. Executive acknowledges that Executive
is party that certain Company’s Confidentiality, Non-Competition, Non-Solicitation and Inventions Assignment Agreement, attached
hereto as Exhibit B and incorporated by reference into this Agreement (the “Confidentiality Agreement”) and that the
Confidentiality Agreement shall continue in effect in accordance with its terms.

 

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6.                  
Code Sections 409A and 280G. 

 

(a)               
In the event that the payments or benefits set forth in Section 4 constitute “non-qualified deferred compensation”
subject to Section 409A, then the following conditions apply to such payments or benefits:

 

(i)             
Any termination of Executive’s employment triggering payment of benefits under Section 4 must constitute a “separation
from service” under Section 409A(a)(2)(A)(i) of the Code and Treas. Reg. §1.409A-1(h) before distribution of such benefits
can commence. To the extent that the termination of Executive’s employment does not constitute a separation of service under Section
409A(a)(2)(A)(i) of the Code and Treas. Reg. §1.409A-1(h) (as the result of further services that are reasonably anticipated to be
provided by Executive to Company at the time Executive’s employment terminates), any such payments under Section 4 that constitute
deferred compensation under Section 409A shall be delayed until after the date of a subsequent event constituting a separation of service
under Section 409A(a)(2)(A)(i) of the Code and Treas. Reg. §1.409A-1(h). For purposes of clarification, this Section 6(a) shall not
cause any forfeiture of benefits on Executive’s part, but shall only act as a delay until such time as a “separation from
service” occurs.

 

(ii)              
Notwithstanding any other provision with respect to the timing of payments under Section 4 if, at the time of Executive’s
termination, Executive is deemed to be a “specified employee” of Company (within the meaning of Section 409A(a)(2)(B)(i) of
the Code), then limited only to the extent necessary to comply with the requirements of Section 409A, any payments to which Executive
may become entitled under Section 4 which are subject to Section 409A (and not otherwise exempt from its application) shall be withheld
until the first (1st) business day of the seventh (7th) month following the termination of Executive’s employment, at which time
Executive shall be paid an aggregate amount equal to the accumulated, but unpaid, payments otherwise due to Executive under the terms
of Section 4.

 

(b)               
It is intended that each installment of the payments and benefits provided under Section 4 shall be treated as a separate “payment”
for purposes of Section 409A. Neither Company nor Executive shall have the right to accelerate or defer the delivery of any such payments
or benefits except to the extent specifically permitted or required by Section 409A.

 

(c)               
Notwithstanding any other provision of this Agreement to the contrary, this Agreement shall be interpreted and at all times administered
in a manner that avoids the inclusion of compensation in income under Section 409A, or the payment of increased taxes, excise taxes or
other penalties under Section 409A. The parties intend this Agreement to be in compliance with Section 409A. Executive acknowledges and
agrees that Company does not guarantee the tax treatment or tax consequences associated with any payment or benefit arising under this
Agreement, including but not limited to consequences related to Section 409A.

 

(d)               
If any payment or benefit Executive would receive under this Agreement, when combined with any other payment or benefit Executive
receives pursuant to a Change of Control (for purposes of this section, a “Payment”) would: (i) constitute a “parachute
payment” within the meaning of Section 280G the Code; and (ii) but for this sentence, be subject to the excise tax imposed by Section
4999 of the Code (the “Excise Tax”), then such Payment shall be either: (A) the full amount of such Payment; or (B) such
lesser amount (with cash payments being reduced before stock-based compensation) as would result in no portion of the Payment being subject
to the Excise Tax, whichever of the foregoing amounts, taking into account the applicable federal, state and local employments taxes,
income taxes, and the Excise Tax, results in Executive’s receipt, on an after-tax basis, of the greater amount of the Payment notwithstanding
that all or some portion of the Payment may be subject to the Excise Tax.

 

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7.                  
 General.

 

(a)               
Notices. Any notices, requests, demands and other communications provided for by this Agreement shall be sufficient if in
writing and delivered in person or sent by a nationally recognized overnight courier service or by registered or certified mail, postage
prepaid, return receipt requested, to Executive at the last address Executive has filed in writing with Company or, in the case of Company,
at its main offices, attention of the Chairperson of the Board.

 

(b)               
Waivers and Consents. The terms and provisions of this Agreement may be waived, or consent for the departure therefrom granted,
only by written document executed by the party entitled to the benefits of such terms or provisions. No such waiver or consent shall be
deemed to be or shall constitute a waiver or consent with respect to any other terms or provisions of this Agreement. Each such waiver
or consent shall be effective only in the specific instance and for the purpose for which it was given, and shall not constitute a continuing
waiver or consent.

 

(c)               
Assignment. Company may assign its rights and obligations hereunder to any person or entity that succeeds to all or substantially
all of Company’s business or that aspect of Company’s business in which Executive is principally involved. Executive may not
assign Executive’s rights and obligations under this Agreement without the prior written consent of Company.

 

(d)               
Governing Law; Jury Waiver. This Agreement and the rights and obligations of the parties hereunder shall be construed in
accordance with and governed by the law of the state of New York without giving effect to the conflict of law principles thereof. Any
legal action or proceeding with respect to this Agreement shall be brought in the courts of the State of New York or the United States
of America for the Southern District of New York. By execution and delivery of this Agreement, each of the parties hereto accepts for
itself and in respect of its property, generally and unconditionally, the exclusive jurisdiction of the aforesaid courts. ANY ACTION,
DEMAND, CLAIM OR COUNTERCLAIM ARISING UNDER OR RELATING TO THIS AGREEMENT SHALL BE RESOLVED BY A JUDGE ALONE AND EACH OF COMPANY AND EXECUTIVE
WAIVES ANY RIGHT TO A JURY TRIAL THEREOF.

 

(e)               
Entire Agreement; Modifications and Amendments. This Agreement, together with the other agreements specifically referenced
herein, embodies the entire agreement and understanding between the parties hereto with respect to the subject matter hereof and supersedes
all prior oral or written agreements and understandings relating to the subject matter hereof, including the Original Employment Agreement.
No statement, representation, warranty, covenant or agreement of any kind not expressly set forth in this Agreement shall affect, or be
used to interpret, change or restrict, the express terms and provisions of this Agreement. The terms and provisions of this Agreement
may be modified or amended only by written agreement executed by the parties hereto.

 

(f)                
Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but
all of which together shall constitute one and the same instrument.

 

 

(Signature page follows)

 

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

  

	Ritankar
    Pal  	 	AEROCLEAN
    TECHNOLOGIES, INC.
	 	 	 
	/s/ Ritankar Pal 	 	 By:	/s/ Ryan Tyler
	Signature	 	Name:
    Ryan Tyler
	Date: October 3, 2022	 	Title:
    Chief Financial Officer
	Address:	 	Date: October 3, 2022

 

(Signature Page to Employment
Agreement)

 

     

     

    

 

Exhibit
A

Outside Activities

 

     

     

    

 

EXHIBIT B

CONFIDENTIALITY, NON-COMPETITION,
NON-SOLICITATION, AND INVENTIONS ASSIGNMENT AGREEMENTExhibit
4.4

 

WARRANT
AGREEMENT

 

This
WARRANT AGREEMENT (this “Agreement”) is made as of [●], 2022 between Plutonian Acquisition Corp., a Delaware
corporation, with offices at 1441 Broadway 3rd, 5th & 6th Floors, New York, NY 10018 (the “Company”), and
American Stock Transfer & Trust Company, LLC, a New York limited purpose trust company, with offices at 6201 15th Avenue, Brooklyn,
NY 11219, as warrant agent (the “Warrant Agent,” also referred herein as the “Transfer Agent”).

 

WHEREAS,
the Company is engaged in a public offering (“Public Offering”) of up to 5,750,000 units (including 750,000 units
which may be issued pursuant to an overallotment option granted to the underwriters of the Public Offering), each unit (the
“Public Units”) comprised of one share of common stock, $0.0001 par value (“Share”), and one
redeemable warrant, where each redeemable warrant entitles the holder to purchase one-half (1/2) of one Share at a price of
$11.50 per full share, subject to adjustment as described herein, and, in connection therewith, will issue and deliver up to
5,750,000 warrants (the “Public Warrants”) to the public investors in connection with the Public Offering;
and

 

WHEREAS,
the Company has filed with the Securities and Exchange Commission (the “SEC”) a Registration Statement on Form S-1,
No. 333-[*] (“Registration Statement”) and prospectus (“Prospectus”), for the registration, under
the Securities Act of 1933, as amended (“Act”) of, among other securities, the Public Warrants; and

 

WHEREAS,
the Company has received binding commitments (“Subscription Agreements”) from the Company’s sponsor,
Plutonian Investments LLC (the “Sponsor”), and EF Hutton, division of Benchmark Investments, LLC, (“EF
Hutton”) to purchase, simultaneously with the closing of the Public Offering, an aggregate of 228,000 (or up to 243,000 if
the underwriter’s over-allotment option is exercised in full) private units at a price of $10.00 per unit in a private
placement (the “Private Units”), with each Private Unit consisting of one Share and one redeemable warrant, and
in connection therewith, will issue and deliver up to 243,000 warrants underlying the Private Units (the “Private
Warrants”), each such Private Warrant entitling its holder to purchase one-half (1/2) of one  Share at a price of
$11.50 per full share, bearing the legend set forth in Exhibit B hereto; and

 

WHEREAS,
the Company may issue up to an additional 60,000 whole warrants, which will be identical to the Private Warrants, in consideration of
certain working capital loans that may be made by the sponsor or the Company’s officers, directors or affiliates (the “Working
Capital Warrants”);

 

WHEREAS,
following consummation of the Public Offering, the Company may issue additional warrants (“Post IPO Warrants” and
together with the Public Warrants, Private Warrants, and Working Capital Warrants,  the
“Warrants”) in connection with, or following the consummation by the Company of, a Business Combination (defined
below); and

 

WHEREAS,
the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection with
the issuance, registration, transfer, exchange, redemption, and exercise of the Warrants; and

 

WHEREAS,
the Company desires to provide for the form and provisions of the Warrants, the terms upon which they shall be issued and exercised,
and the respective rights, limitation of rights, and immunities of the Company, the Warrant Agent, and the holders of the Warrants; and

  

WHEREAS,
all acts and things have been done and performed which are necessary to make the Warrants, when executed on behalf of the Company and
countersigned by or on behalf of the Warrant Agent, as provided herein, the valid, binding, and legal obligations of the Company, and
to authorize the execution and delivery of this Agreement.

  

NOW,
THEREFORE, in consideration of the mutual agreements herein contained, the parties hereto agree as follows:

 

     

     

    

  

1. Appointment
of Warrant Agent. The Company hereby appoints the Warrant Agent to act as agent for the Company for the Warrants, and the Warrant
Agent hereby accepts such appointment and agrees to perform the same in accordance with the terms and conditions set forth in this Agreement.

 

2. Warrants.

 

2.1. Form
of Warrant. Each Warrant shall be issued in registered form only, shall be in substantially the form of Exhibit A hereto,
the provisions of which are incorporated herein and shall be signed by, or bear the facsimile signature of, the Chairman of the Board
of Directors or Chief Executive Officer, Chief Financial Officer or Treasurer, Secretary or Assistant Secretary of the Company and shall
bear a facsimile of the Company’s seal. In the event the person whose facsimile signature has been placed upon any Warrant shall
have ceased to serve in the capacity in which such person signed the Warrant before such Warrant is issued, it may be issued with the
same effect as if he or she had not ceased to be such at the date of issuance.

 

2.2. Uncertificated
Warrants. Notwithstanding anything herein to the contrary, any Warrant, or portion thereof, may be issued as part of, and be represented
by, a Unit, and any Warrant may be issued in uncertificated or book-entry form through the Warrant Agent and/or the facilities of The
Depository Trust Company (the “Depositary”) or other book-entry depositary system, in each case as determined by the
Board of Directors of the Company or by an authorized committee thereof. Any Warrant so issued shall have the same terms, force and effect
as a certificated Warrant that has been duly countersigned by the Warrant Agent in accordance with the terms of this Agreement.

 

2.3. Effect
of Countersignature. Except with respect to uncertificated Warrants as described above, unless and until countersigned by the Warrant
Agent pursuant to this Agreement, a Warrant shall be invalid and of no effect and may not be exercised by the holder thereof.

 

2.4. Registration.

 

2.4.1. Warrant
Register. The Warrant Agent shall maintain books (“Warrant Register”) for the registration of original issuance
and the registration of transfer of the Warrants. Upon the initial issuance of the Warrants, the Warrant Agent shall issue and register
the Warrants in the names of the respective holders thereof in such denominations and otherwise in accordance with instructions delivered
to the Warrant Agent by the Company.

 

2.4.2. Registered
Holder. Prior to due presentment for registration of transfer of any Warrant, the Company and the Warrant Agent may deem and treat
the person in whose name such Warrant is then registered in the Warrant Register (“Registered Holder”) as the absolute
owner of such Warrant and of each Warrant represented thereby (notwithstanding any notation of ownership or other writing on the Warrant
certificate made by anyone other than the Company or the Warrant Agent), for the purpose of any exercise thereof, and for all other purposes,
and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary.

 

2.5. Detachability
of Warrants. The securities comprising the Units will not be separately transferable until the 90th day following the date of
the Prospectus or, if such 90th day is not on a day, other than a Saturday, Sunday or federal holiday, on which banks in New York
City are generally open for normal business (a “Business Day”), then on the immediately succeeding Business Day following
such date, or earlier (the “Detachment Date”) with the consent of EF Hutton, as representative of the several underwriters
(the “Representative”), but in no event shall the securities comprising the Units be separately traded until (A) the
Company has filed a current report on Form 8-K (or other applicable form) with the SEC containing an audited balance sheet reflecting
the receipt by the Company of the gross proceeds of the Offering, including the proceeds received by the Company from the exercise by
the underwriters of their right to purchase additional Units in the Offering (the “Over-Allotment Option”), if the
Over-Allotment Option is exercised prior to the filing of the Form 8-K (or other applicable form), and (B) the Company issues a press
release and files with the SEC a current report on Form 8-K (or other applicable form) announcing when such separate trading shall begin.
In furtherance of the foregoing, the Company agrees to promptly prepare and file such Form 8-K (or other report) and issue such press
release and file the related Form 8-K (or other report) promptly following receipt by the Company of the gross proceeds of the Offering.

 

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2.6. Attributes
of Private Warrant and Working Capital Warrant. The Private Warrants and Working Capital Warrants will be identical to the Public
Warrants.

 

2.7. Post
IPO Warrants. The Post IPO Warrants, when and if issued, shall have the same terms and be in the same form as the Public Warrants
except as may be agreed upon by the Company.

 

3. Terms
and Exercise of Warrants

 

3.1. Warrant
Price. Each Warrant shall entitle the Registered Holder thereof, subject to the provisions of such Warrant and of this Agreement,
to purchase from the Company the number of Shares stated therein, at the price of $11.50 per full share, subject to the adjustments provided
in Section 4 hereof and in the last sentence of this Section 3.1. The term “Warrant Price” as used in this Agreement
refers to the price per share at which the Shares may be purchased at the time a Warrant is exercised. The Company in its sole discretion
may lower the Warrant Price at any time prior to the Expiration Date (as defined below) for a period of not less than twenty (20) Business
Days; provided, that the Company shall provide at least five (5) days’ prior written notice of such reduction to Registered
Holders of the Warrants and, provided further that any such reduction shall be identical among all of the Warrants.

 

3.2. Duration
of Warrants. A Warrant may be exercised only during the period commencing, on the later of, (i) 30 days after the consummation by
the Company of a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business
combination with one or more businesses or entities (“Business Combination”) (as described more fully in the Registration
Statement) or (2) 12 months from the closing of this Public Offering, and terminating at 5:00 p.m., New York City time on the earlier
to occur of (i) the date that is five (5) years after the date on which the Company consummates a Business Combination, (ii) at
5:00 p.m., New York City time on the Redemption Date as provided in Section 6.2 of this Agreement and (iii) the liquidation
of the Company (defined below) (“Expiration Date”). The period of time from the date the Warrants will first become
exercisable until the expiration of the Warrants shall hereafter be referred to as the “Exercise Period.” Except with
respect to the right to receive the Redemption Price (as set forth in Section 6 hereunder), as applicable, each outstanding Warrant
not exercised on or before the Expiration Date shall become void, and all rights thereunder and all rights in respect thereof under this
Agreement shall cease at 5:00 p.m., New York City time, on the Expiration Date. The Company in its sole discretion may extend the duration
of the Warrants by delaying the Expiration Date; provided, however, that the Company will provide at least twenty (20) days’
prior written notice of any such extension to Registered Holders and, provided further that any such extension shall be applied consistently
to all of the Warrants.

 

3.3. Exercise
of Warrants.

 

3.3.1. Payment.
Subject to the provisions of the Warrant and this Agreement, a Warrant, when countersigned by the Warrant Agent, may be exercised by
the Registered Holder thereof by surrendering it, at the office of the Warrant Agent, or at the office of its successor as Warrant Agent,
in the Borough of Manhattan, City and State of New York, with the subscription form, as set forth in the Warrant, duly executed, and
by paying in full the Warrant Price for each whole Share as to which the Warrant is exercised and any and all applicable taxes due in
connection with the exercise of the Warrant, as follows:

 

(a)
in lawful money of the United States, by good certified check or wire payable to the Warrant Agent; or

 

(b)
in the event of a redemption pursuant to Section 6.1 hereof in which the Company’s management has elected to force all holders
of Warrants to exercise such Warrants on a “cashless basis,” by surrendering the Warrants for that number of Shares equal
to the quotient obtained by dividing (x) the product of the number of Shares underlying the Warrants, multiplied by the difference
between the Warrant Price and the “Fair Market Value” (defined below) by (y) the Fair Market Value. Solely for purposes
of this Section 3.3.1(b), the “Fair Market Value” shall mean the average reported last sale price of the Shares for
the ten (10) trading days ending on the third trading day prior to the date on which the notice of redemption is sent to the holders of the Warrants,
pursuant to Section 6 hereof; or

   

(c)
in the event the registration statement required by Section 7.4 hereof is not effective and current within ninety (90) days
after the closing of a Business Combination, by surrendering such Warrants for that number of Shares equal to the quotient obtained by
dividing (x) the product of the number of Shares underlying the Warrants, multiplied by the difference between the exercise price
of the Warrants and the “Fair Market Value” by (y) the Fair Market Value; provided, however, that no cashless exercise
shall be permitted unless the Fair Market Value is equal to or higher than the exercise price. Solely for purposes of this Section 3.3.1(c),
the “Fair Market Value” shall mean the average reported last sale price of the Shares for the ten (10) trading days
ending on the third trading day prior to the date of exercise.

 

    3

     

    

 

3.3.2. Issuance
of Shares. As soon as practicable after the exercise of any Warrant and the clearance of the funds in payment of the Warrant Price
(if any), the Company shall issue to the Registered Holder of such Warrant a certificate or certificates, or book entry position, for
the number of Shares to which he, she or it is entitled, registered in such name or names as may be directed by him, her or it, and if
such Warrant shall not have been exercised in full, a new countersigned Warrant, or book entry position, for the number of shares as
to which such Warrant shall not have been exercised. Notwithstanding the foregoing, in no event will the Company be required to net cash
settle the Warrant exercise. No Warrant shall be exercisable for cash and the Company shall not be obligated to issue Shares upon exercise
of a Warrant unless the Shares issuable upon such Warrant exercise has been registered, qualified or deemed to be exempt under the securities
laws of the state of residence of the Registered Holder of the Warrants. In the event that the condition in the immediately preceding
sentence is not satisfied with respect to a Warrant, the holder of such Warrant shall not be entitled to exercise such Warrant for cash
and such Warrant may have no value and expire worthless, in which case the purchaser of a Unit containing such Warrants shall have paid
the full purchase price for the Unit solely for the Shares underlying such Unit. Warrants may not be exercised by, or securities issued
to, any Registered Holder in any state in which such exercise or issuance would be unlawful.

 

3.3.3. Valid
Issuance. All Shares issued upon the proper exercise of a Warrant in conformity with this Agreement shall be validly issued, fully
paid and nonassessable.

 

3.3.4. Date
of Issuance. Each person in whose name any book entry position or certificate for Shares is issued shall for all purposes be deemed
to have become the holder of record of such shares on the date on which the Warrant, or book entry position representing such Warrant,
was surrendered and payment of the Warrant Price was made, irrespective of the date of delivery of such certificate, except that, if
the date of such surrender and payment is a date when the share transfer books of the Company or book entry system of the Warrant Agent
are closed, such person shall be deemed to have become the holder of such shares at the close of business on the next succeeding date
on which the share transfer books or book entry system are open.

 

3.3.5 Maximum
Percentage. A holder of a Warrant may notify the Company in writing in the event it elects to be subject to the provisions contained
in this subsection 3.3.5; however, no holder of a Warrant shall be subject to this subsection 3.3.5 unless he, she or it makes such election.
If the election is made by a holder, the Warrant Agent shall not effect the exercise of the holder’s Warrant, and such holder shall
not have the right to exercise such Warrant, to the extent that after giving effect to such exercise, such person (together with such
person’s affiliates), to the Warrant Agent’s actual knowledge, would beneficially own in excess of 9.8% (the “Maximum
Percentage”) of the Shares outstanding immediately after giving effect to such exercise. For purposes of the foregoing sentence,
the aggregate number of Shares beneficially owned by such person and its affiliates shall include the number of Shares issuable upon
exercise of the Warrant with respect to which the determination of such sentence is being made, but shall exclude Shares that would be
issuable upon (x) exercise of the remaining, unexercised portion of the Warrant beneficially owned by such person and its affiliates
and (y) exercise or conversion of the unexercised or unconverted portion of any other securities of the Company beneficially owned
by such person and its affiliates (including, without limitation, any convertible notes or convertible preferred stock or warrants) subject
to a limitation on conversion or exercise analogous to the limitation contained herein. Except as set forth in the preceding sentence,
for purposes of this paragraph, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange
Act of 1934, as amended (the “Exchange Act”). For purposes of the Warrant, in determining the number of outstanding
Shares, the holder may rely on the number of outstanding Shares as reflected in (1) the Company’s most recent annual report
on Form 10-K, quarterly report on Form 10-Q, current report on Form 8-K or other public filing with the
SEC as the case may be, (2) a more recent public announcement by the Company or (3) any other notice by the Company or the
Warrant Agent setting forth the number of Shares outstanding. For any reason at any time, upon the written request of the holder of the
Warrant, the Company shall, within two (2) Business Days, confirm orally and in writing to such holder the number of Shares then
outstanding. In any case, the number of outstanding Shares shall be determined after giving effect to the conversion or exercise of equity
securities of the Company by the holder and its affiliates since the date as of which such number of outstanding Shares was reported.
By written notice to the Company, the holder of a Warrant may from time to time increase or decrease the Maximum Percentage applicable
to such holder to any other percentage specified in such notice; provided, however, that any such increase shall not be effective until
the sixty-first (61st) day after such notice is delivered to the Company.

 

    4

     

    

  

4. Adjustments.

 

4.1. Stock
Dividends; Split Ups. If after the date hereof, and subject to the provisions of Section 4.6 below, the number of outstanding
Shares is increased by a stock dividend payable in Shares, or by a split up of Shares, or other similar event, then, on the effective
date of such stock dividend, split up or similar event, the number of Shares issuable on exercise of each Warrant shall be increased
in proportion to such increase in outstanding Shares.

 

4.2. Aggregation
of Shares. If after the date hereof, the number of outstanding Shares is decreased by a consolidation, combination, reverse stock
split or reclassification of Shares or other similar event, then, on the effective date of such consolidation, combination, reverse stock
split, reclassification or similar event, the number of Shares issuable on exercise of each Warrant shall be decreased in proportion
to such decrease in outstanding Shares.

  

4.3 Extraordinary
Dividends. If the Company, at any time while the Warrants are outstanding and unexpired, shall pay a dividend or make a distribution
in cash, securities or other assets to the holders of the Shares or other shares of the Company’s capital stock into which the
Warrants are convertible (an “Extraordinary Dividend”), then the Warrant Price shall be decreased, effective immediately
after the effective date of such Extraordinary Dividend, by the amount of cash and the fair market value (as determined by the Company’s
Board of Directors, in good faith) of any securities or other assets paid in respect of such Extraordinary Dividend divided by all outstanding
shares of the Company at such time (whether or not any stockholders waived their right to receive such dividend); provided, however,
that none of the following shall be deemed an Extraordinary Dividend for purposes of this provision: (a) any adjustment described
in subsection 4.1 above, (b) any cash dividends or cash distributions which, when combined on a per share basis with all other cash
dividends and cash distributions paid on the Shares during the 365-day period ending on the date of declaration of such dividend
or distribution does not exceed $0.50 per share (taking into account all of the outstanding shares of the Company at such time (whether
or not any stockholders waived their right to receive such dividend) and as adjusted to appropriately reflect any of the events referred
to in other subsections of this Section 4 and excluding cash dividends or cash distributions that resulted in an adjustment to the
Warrant Price or to the number of Shares issuable on exercise of each Warrant) but only with respect to the amount of the aggregate cash
dividends or cash distributions equal to or less than $0.50, (c) any payment to satisfy the conversion rights of the holders of the Shares
in connection with a proposed initial Business Combination or certain amendments to the Company’s Amended and Restated Certificate
of Incorporation (as described in the Registration Statement) or (d) any payment in connection with the Company’s liquidation
and the distribution of its assets upon its failure to consummate a Business Combination. Solely for purposes of illustration, if the
Company, at a time while the Warrants are outstanding and unexpired, pays a cash dividend of $0.35 and previously paid an aggregate of
$0.40 of cash dividends and cash distributions on the Shares during the 365-day period ending on the date of declaration of
such $0.35 dividend, then the Warrant Price will be decreased, effectively immediately after the effective date of such $0.35 dividend,
by $0.25 (the absolute value of the difference between $0.75 (the aggregate amount of all cash dividends and cash distributions paid
or made in such 365-day period, including such $0.35 dividend) and $0.50 (the greater of (x) $0.50 and (y) the aggregate
amount of all cash dividends and cash distributions paid or made in such 365-day period prior to such $0.35 dividend)). Furthermore,
solely for the purposes of illustration, if following the closing of the Company’s initial Business Combination, there were 100,000,000
shares outstanding and the Company paid a $1.00 dividend to 17,500,000 of such shares (with the remaining 82,500,000 shares waiving their
right to receive such dividend), then no adjustment to the Warrant Price would occur as a $17.5 million dividend payment divided by 100,000,000
shares equals $0.175 per share which is less than $0.50 per share.

  

4.4 Adjustments
in Exercise Price. Whenever the number of Shares purchasable upon the exercise of the Warrants is adjusted, as provided in Sections
4.1 and 4.2 above, the Warrant Price shall be adjusted (to the nearest cent) by multiplying such Warrant Price immediately prior to such
adjustment by a fraction (x) the numerator of which shall be the number of Shares purchasable upon the exercise of the Warrants
immediately prior to such adjustment, and (y) the denominator of which shall be the number of Shares so purchasable immediately
thereafter.

 

    5

     

    

 

4.5. Replacement
of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding Shares (other than a
change covered by Section 4.1, 4.2 or 4.3 hereof or that solely affects the par value of the Shares), or in the case of any merger
or consolidation of the Company with or into another corporation (other than a consolidation or merger in which the Company is the continuing
corporation and that does not result in any reclassification or reorganization of the outstanding Shares), or in the case of any sale
or conveyance to another corporation or entity of the assets or other property of the Company as an entirety or substantially as an entirety
in connection with which the Company is dissolved, the Warrant holders shall thereafter have the right to purchase and receive, upon
the basis and upon the terms and conditions specified in the Warrants and in lieu of the Shares of the Company immediately theretofore
purchasable and receivable upon the exercise of the rights represented thereby, the kind and amount of shares of stock or other securities
or property (including cash) receivable upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following
any such sale or transfer, that the Warrant holder would have received if such Warrant holder had exercised his, her or its Warrant(s)
immediately prior to such event. If any reclassification also results in a change in the Shares covered by Section 4.1, 4.2 or 4.3,
then such adjustment shall be made pursuant to Sections 4.1, 4.2, 4.3, 4.4 and this Section 4.5. The provisions of this Section 4.5
shall similarly apply to successive reclassifications, reorganizations, mergers or consolidations, sales or other transfers. In no event
will the Warrant Price be reduced to less than the par value per share issuable upon exercise of the Warrant. Notwithstanding anything
to the contrary herein, in the event of any tender offer for shares of Shares, the offeror shall not make any tender offer for Warrants
if the effect of such offer would be to require the Warrants to be accounted for as liabilities under applicable accounting principles.

  

4.6. Issuance
in connection with a Business Combination. If, in connection with a Business Combination, the Company (a) issues additional
Shares or equity-linked securities at an issue price or effective issue price of less than $9.20 per share (with such issue price or
effective issue price as determined by the Company’s Board of Directors, in good faith, and in the case of any such issuance
to the Company’s initial stockholders, or their affiliates, without taking into account any insider shares held by them prior
to such issuance), (b) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and
interest thereon, available for the funding of the Business Combination on the date of the consummation of such Business Combination
(net of redemptions), and (c) the Fair Market Value (as defined below) is below $9.20 per share, the exercise price of the warrants
will be adjusted (to the nearest cent) to be equal to 115% of the greater of (i) the Fair Market Value or (ii) the price at which
the Company issues the Shares or equity-linked securities, and the $16.50 per share redemption trigger price will be adjusted (to
the nearest cent) to be equal to 165% of the higher of the Fair Market Value and the price at which the Company issues Shares or
equity-linked securities. Solely for purposes of this Section 4.6, the “Fair Market Value” shall mean the volume
weighted average reported trading price of the Shares for the twenty (20) trading days starting on the trading day prior to the date
of the consummation of the Business Combination.

 

4.7 Notices
of Changes in Warrant. Upon every adjustment of the Warrant Price or the number of shares issuable upon exercise of a Warrant, the
Company shall give written notice thereof to the Warrant Agent, which notice shall state the Warrant Price resulting from such adjustment
and the increase or decrease, if any, in the number of shares purchasable at such price upon the exercise of a Warrant, setting forth
in reasonable detail the method of calculation and the facts upon which such calculation is based. Upon the occurrence of any event specified
in Sections 4.1, 4.2, 4.3, 4.4, 4.5, or 4.6, then, in any such event, the Company shall give written notice to each Warrant holder, at
the last address set forth for such holder in the Warrant Register, of the record date or the effective date of the event. Failure to
give such notice, or any defect therein, shall not affect the legality or validity of such event.

 

4.8. No
Fractional Warrants or Shares. Notwithstanding any provision contained in this Agreement to the contrary, the Company shall not issue
fractional shares upon exercise of Warrants. If, by reason of any adjustment made pursuant to this Section 4, the holder of any
Warrant would be entitled, upon the exercise of such Warrant, to receive a fractional interest in a share, the Company shall, upon such
exercise, round down to the nearest whole number of Shares to be issued to the Warrant holder.

  

4.9. Form
of Warrant. The form of Warrant need not be changed because of any adjustment pursuant to this Section 4, and Warrants issued
after such adjustment may state the same Warrant Price and the same number of shares as is stated in the Warrants initially issued pursuant
to this Agreement. However, the Company may at any time in its sole discretion make any change in the form of Warrant that the Company
may deem appropriate and that does not affect the substance thereof, and any Warrant thereafter issued or countersigned, whether in exchange
or substitution for an outstanding Warrant or otherwise, may be in the form as so changed.

 

    6

     

    

 

4.10 Other
Events. In case any event shall occur affecting the Company as to which none of the provisions of preceding subsections of this Section 4
are strictly applicable, but which would require an adjustment to the terms of the Warrants in order to (i) avoid an adverse impact
on the Warrants and (ii) effectuate the intent and purpose of this Section 4, then, in each such case, the Company shall appoint
a firm of independent public accountants, investment banking or other appraisal firm of recognized national standing, which shall give
its opinion as to whether or not any adjustment to the rights represented by the Warrants is necessary to effectuate the intent and purpose
of this Section 4 and, if they determine that an adjustment is necessary, the terms of such adjustment. The Company shall adjust
the terms of the Warrants in a manner that is consistent with any adjustment recommended in such opinion.

 

5. Transfer
and Exchange of Warrants.

 

5.1. Registration
of Transfer. The Warrant Agent shall register the transfer, from time to time, of any outstanding Warrant upon the Warrant Register,
upon surrender of such Warrant for transfer, properly endorsed with signatures, in the case of certificated Warrants, properly guaranteed
and accompanied by appropriate instructions for transfer. Upon any such transfer, a new Warrant representing an equal aggregate number
of Warrants shall be issued and the old Warrant shall be cancelled by the Warrant Agent. In the case of certificated Warrants, the Warrants
so cancelled shall be delivered by the Warrant Agent to the Company from time to time upon request.

 

5.2. Procedure
for Surrender of Warrants. Warrants may be surrendered to the Warrant Agent, either in certificated form or in book entry position,
together with a written request for exchange or transfer, and thereupon the Warrant Agent shall issue in exchange therefor one or more
new Warrants, or book entry positions, as requested by the Registered Holder of the Warrants so surrendered, representing an equal aggregate
number of Warrants; provided, however, that in the event that a Warrant surrendered for transfer bears a restrictive legend, the Warrant
Agent shall not cancel such Warrant and issue new Warrants in exchange therefor until the Warrant Agent has received an opinion of counsel
for the Company stating that such transfer may be made and indicating whether the new Warrants must also bear a restrictive legend.

  

5.3. Fractional
Warrants. The Warrant Agent shall not be required to effect any registration of transfer or exchange which will result in the issuance
of a warrant certificate or book-entry position for a fraction of a Warrant.

 

5.4. Service
Charges. No service charge shall be made for any exchange or registration of transfer of Warrants.

 

5.5. Warrant
Execution and Countersignature. The Warrant Agent is hereby authorized to countersign and to deliver, in accordance with the terms
of this Agreement, the Warrants required to be issued pursuant to the provisions of this Section 5, and the Company, whenever required
by the Warrant Agent, will supply the Warrant Agent with Warrants duly executed on behalf of the Company for such purpose.

 

5.6. Private
Warrants, Working Capital Warrants, and Post IPO Warrants. The Warrant Agent shall not register any transfer of Private Warrants,
Working Capital Warrants, or Post-IPO Warrants until after the consummation by the Company of an initial Business Combination, except
for transfers (i) among the initial stockholders or to the initial stockholders’ or the Company’s officers, directors,
consultants or their affiliates, (ii) to a holder’s stockholders or members upon the holder’s liquidation, in each case
if the holder is an entity, (iii) by bona fide gift to a member of the holder’s immediate family or to a trust, the beneficiary
of which is the holder or a member of the holder’s immediate family, in each case for estate planning purposes, (iv) by virtue
of the laws of descent and distribution upon death, (v) pursuant to a qualified domestic relations order, (vi) to the Company
for no value for cancellation in connection with the consummation of a Business Combination, (vii) in connection with the consummation
of a Business Combination by private sales at prices no greater than the price at which the Private Warrants were originally purchased,
(viii) in the event of the Company’s liquidation prior to its consummation of an initial Business Combination or (ix) in
the event that, subsequent to the consummation of an initial Business Combination, the Company completes a liquidation, merger, share
exchange or other similar transaction which results in all of the Company’s stockholders having the right to exchange their Shares
for cash, securities or other property, in each case (except for clauses (vi), (viii) or (ix) or with the Company’s prior
written consent) on the condition that prior to such registration for transfer, the Warrant Agent shall be presented with written documentation
pursuant to which each transferee (each, a “Permitted Transferee”) or the trustee or legal guardian for such Permitted
Transferee agrees to be bound by the transfer restrictions contained in this Agreement and any other applicable agreement the transferor
is bound by.

  

    7

     

    

 

5.7. Transfers
prior to Detachment. Prior to the Detachment Date, the Public Warrants may be transferred or exchanged only together with the Unit
in which such Warrant is included, and only for the purpose of effecting, or in conjunction with, a transfer or exchange of such Unit.
Furthermore, each transfer of a Unit on the register relating to such Units shall operate also to transfer the Warrants included in such
Unit. Notwithstanding the foregoing, the provisions of this Section 5.7 shall have no effect on any transfer of Warrants on or after
the Detachment Date.

 

6. Redemption.

 

6.1. Redemption.
Not less than all of the outstanding Warrants may be redeemed, at the option of the Company, at any time during the Exercise Period,
at the office of the Warrant Agent, upon the notice referred to in Section 6.2, at the price of $0.01 per Warrant (“Redemption
Price”), provided that the closing price of the Shares equals or exceeds $16.50 per share (the “Redemption Trigger
Price”) (subject to adjustment in accordance with Section 4 hereof), on each of twenty (20) trading days within any
thirty (30) trading day period commencing after the Warrants become exercisable and ending on the third trading day prior to the
date on which notice of redemption is given and provided that there is an effective registration statement covering the Shares issuable
upon exercise of the Warrants, and a current prospectus relating thereto, available throughout the 30-day redemption or the
Company has elected to require the exercise of the Warrants on a “cashless basis” pursuant to subsection 3.3.1(b); provided,
however, that if and when the Warrants become redeemable by the Company, the Company may not exercise such redemption right if the issuance
of Shares upon exercise of the Warrants is not exempt from registration or qualification under applicable state blue sky laws or the
Company is unable to effect such registration or qualification.

 

6.2. Date
Fixed for, and Notice of, Redemption. In the event the Company shall elect to redeem all of the Warrants that are subject to redemption,
the Company shall fix a date for the redemption (the “Redemption Date”). Notice of redemption shall be mailed by first
class mail, postage prepaid, by the Company not less than thirty (30) days prior to the Redemption Date to the Registered Holders
of the Warrants to be redeemed at their last addresses as they shall appear on the registration books. Any notice mailed in the manner
herein provided shall be conclusively presumed to have been duly given whether or not the Registered Holder received such notice.

  

6.3. Exercise
After Notice of Redemption. The Warrants may be exercised, for cash (or on a “cashless basis” in accordance with Section 3
of this Agreement) at any time after notice of redemption shall have been given by the Company pursuant to Section 6.2 hereof and
prior to the Redemption Date. In the event the Company determines to require all holders of Warrants to exercise their Warrants on a
“cashless basis” pursuant to Section 3.3.1(b), the notice of redemption will contain the information necessary to calculate
the number of Shares to be received upon exercise of the Warrants, including the “Fair Market Value” in such case. On and
after the Redemption Date, the record holder of the Warrants shall have no further rights except to receive, upon surrender of the Warrants,
the Redemption Price.

 

7. Other
Provisions Relating to Rights of Holders of Warrants.

 

7.1. No
Rights as Stockholder. A Warrant does not entitle the Registered Holder thereof to any of the rights of a stockholder of the Company,
including, without limitation, the right to receive dividends, or other distributions, exercise any preemptive rights to vote or to consent
or to receive notice as stockholders in respect of the meetings of stockholders or the election of directors of the Company or any other
matter.

 

7.2. Lost,
Stolen, Mutilated, or Destroyed Warrants. If any Warrant is lost, stolen, mutilated, or destroyed, the Company and the Warrant Agent
may on such terms as to indemnity or otherwise as they may in their discretion impose (which shall, in the case of a mutilated Warrant,
include the surrender thereof), issue a new Warrant of like denomination, tenor, and date as the Warrant so lost, stolen, mutilated,
or destroyed. Any such new Warrant shall constitute a substitute contractual obligation of the Company, whether or not the allegedly
lost, stolen, mutilated, or destroyed Warrant shall be at any time enforceable by anyone.

 

    8

     

    

 

7.3. Reservation
of Shares. The Company shall at all times reserve and keep available a number of its authorized but unissued Shares that will be
sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to this Agreement.

 

7.4. Registration
of Shares. The Company agrees that as soon as practicable after the closing of its initial Business Combination, it shall use its
best efforts to file with SEC a registration statement for the registration, under the Act, of the Shares issuable upon exercise of the
Warrants, and it shall use its best efforts to take such action as is necessary to register or qualify for sale, in those states in which
the Warrants were initially offered by the Company and in those states where holders of Warrants then reside, the Shares issuable upon
exercise of the Warrants, to the extent an exemption is not available. The Company will use its best efforts to cause the same to become
effective and to maintain the effectiveness of such registration statement, and a current prospectus relating thereto, until the expiration
of the Warrants in accordance with the provisions of this Agreement. If any such registration statement has not been declared effective
by the 90th day following the closing of the Business Combination, holders of the Warrants shall have the right, during the period beginning
on the 91st day after the closing of the Business Combination and ending upon such registration statement being declared effective by
SEC, and during any other period when the Company shall fail to have maintained an effective registration statement covering the Shares
issuable upon exercise of the Warrants, to exercise such Warrants on a “cashless basis” as determined in accordance with
Section 3.3.1(c). The Company shall provide the Warrant Agent with an opinion of counsel for the Company (which shall be an outside
law firm with securities law experience) stating that (i) the exercise of the Warrants on a cashless basis in accordance with this
Section 7.4 is not required to be registered under the Act and (ii) the Shares issued upon such exercise will be freely tradable
under U.S. federal securities laws by anyone who is not an affiliate (as such term is defined in Rule 144 under the Act) of the Company
and, accordingly, will not be required to bear a restrictive legend. For the avoidance of any doubt, unless and until all of the Warrants
have been exercised on a cashless basis, the Company shall continue to be obligated to comply with its registration obligations under
the first three sentences of this Section 7.4. The provisions of this Section 7.4 may not be modified, amended, or deleted without the
prior written consent of the Representative.

  

8. Concerning
the Warrant Agent and Other Matters.

 

8.1. Payment
of Taxes. The Company will from time to time promptly pay all taxes and charges that may be imposed upon the Company or the Warrant
Agent in respect of the issuance or delivery of Shares upon the exercise of Warrants, but the Company shall not be obligated to pay any
transfer taxes in respect of the Warrants or such Shares.

 

8.2. Resignation,
Consolidation, or Merger of Warrant Agent.

 

8.2.1. Appointment
of Successor Warrant Agent. The Warrant Agent, or any successor to it hereafter appointed, may resign its duties and be discharged
from all further duties and liabilities hereunder after giving sixty (60) days’ notice in writing to the Company. If the office
of the Warrant Agent becomes vacant by resignation or incapacity to act or otherwise, the Company shall appoint in writing a successor
Warrant Agent in place of the Warrant Agent. If the Company shall fail to make such appointment within a period of thirty (30) days
after it has been notified in writing of such resignation or incapacity by the Warrant Agent or by the holder of the Warrant (who shall,
with such notice, submit his Warrant for inspection by the Company), then the holder of any Warrant may apply to the Supreme Court of
the State of New York for the County of New York for the appointment of a successor Warrant Agent at the Company’s cost. Any successor
Warrant Agent, whether appointed by the Company or by such court, shall be a corporation organized and existing under the laws of the
State of New York, in good standing and having its principal office in the Borough of Manhattan, City and State of New York, and authorized
under such laws to exercise corporate trust powers and subject to supervision or examination by federal or state authority. After appointment,
any successor Warrant Agent shall be vested with all the authority, powers, rights, immunities, duties, and obligations of its predecessor
Warrant Agent with like effect as if originally named as Warrant Agent hereunder, without any further act or deed; but if for any reason
it becomes necessary or appropriate, the predecessor Warrant Agent shall execute and deliver, at the expense of the Company, an instrument
transferring to such successor Warrant Agent all the authority, powers, and rights of such predecessor Warrant Agent hereunder; and upon
request of any successor Warrant Agent the Company shall make, execute, acknowledge, and deliver any and all instruments in writing for
more fully and effectually vesting in and confirming to such successor Warrant Agent all such authority, powers, rights, immunities,
duties, and obligations. 

 

    9

     

    

 

8.2.2. Notice
of Successor Warrant Agent. In the event a successor Warrant Agent shall be appointed, the Company shall give notice thereof to the
predecessor Warrant Agent and the Transfer Agent for the Shares not later than the effective date of any such appointment.

 

8.2.3. Merger
or Consolidation of Warrant Agent. Any corporation into which the Warrant Agent may be merged or with which it may be consolidated
or any corporation resulting from any merger or consolidation to which the Warrant Agent shall be a party shall be the successor Warrant
Agent under this Agreement without any further act.

 

8.3. Fees
and Expenses of Warrant Agent.

 

8.3.1. Remuneration.
The Company agrees to pay the Warrant Agent reasonable remuneration for its services as such Warrant Agent hereunder and will reimburse
the Warrant Agent upon demand for all expenditures that the Warrant Agent may reasonably incur in the execution of its duties hereunder.

 

8.3.2. Further
Assurances. The Company agrees to perform, execute, acknowledge, and deliver or cause to be performed, executed, acknowledged, and
delivered all such further and other acts, instruments, and assurances as may reasonably be required by the Warrant Agent for the carrying
out or performing of the provisions of this Agreement.

 

8.4. Liability
of Warrant Agent.

 

8.4.1. Reliance
on Company Statement. Whenever in the performance of its duties under this Agreement, the Warrant Agent shall deem it necessary or
desirable that any fact or matter be proved or established by the Company prior to taking or suffering any action hereunder, such fact
or matter (unless other evidence in respect thereof be herein specifically prescribed) may be deemed to be conclusively proved and established
by a statement signed by the Chief Executive Officer, President, Chief Financial Officer, Secretary or Chairman of the Board of Directors
of the Company and delivered to the Warrant Agent. The Warrant Agent may rely upon such statement for any action taken or suffered in
good faith by it pursuant to the provisions of this Agreement.

 

8.4.2. Indemnity.
The Warrant Agent shall be liable hereunder only for its own fraud, gross negligence, willful misconduct or bad faith. The Company agrees
to indemnify the Warrant Agent and save it harmless against any and all liabilities, including judgments, costs and reasonable counsel
fees, for anything done or omitted by the Warrant Agent in the execution of this Agreement except as a result of the Warrant Agent’s
fraud, gross negligence, willful misconduct, or bad faith.

 

8.4.3. Exclusions.
The Warrant Agent shall have no responsibility with respect to the validity of this Agreement or with respect to the validity or execution
of any Warrant (except its countersignature thereof); nor shall it be responsible for any breach by the Company of any covenant or condition
contained in this Agreement or in any Warrant; nor shall it be responsible to make any adjustments required under the provisions of Section 4
hereof or responsible for the manner, method, or amount of any such adjustment or the ascertaining of the existence of facts that would
require any such adjustment; nor shall it by any act hereunder be deemed to make any representation or warranty as to the authorization
or reservation of any Shares to be issued pursuant to this Agreement, or any Warrant or as to whether any Shares will, when issued, be
valid and fully paid and nonassessable.

 

8.5. Acceptance
of Agency. The Warrant Agent hereby accepts the agency established by this Agreement and agrees to perform the same upon the terms
and conditions herein set forth and among other things, shall account promptly to the Company with respect to Warrants exercised and
concurrently account for, and pay to the Company, all monies received by the Warrant Agent for the purchase of Shares through the exercise
of Warrants.

 

    10

     

    

 

9. Miscellaneous
Provisions.

 

9.1. Successors.
All the covenants and provisions of this Agreement by or for the benefit of the Company or the Warrant Agent shall bind and inure to
the benefit of their respective successors and assigns. 

 

9.2. Notices.
Any notice, statement or demand authorized by this Agreement to be given or made by the Warrant Agent or by the holder of any Warrant
to or on the Company shall be sufficiently given (i) if by email when the email is sent, (ii) if by hand or overnight delivery, when
so delivered, or (iii) if sent by certified mail or private courier service within five (5) days after deposit of such notice, postage
prepaid, addressed (until another address is filed in writing by the Company with the Warrant Agent), as follows:

 

Plutonian
Acquisition Corp.

1441
Broadway 3rd, 5th & 6th Floors

New
York NY 10018

Attn:
Qiang Tan, Chief Executive Officer

E-mail:
qiangtan@plutoniancorp.com

 

Any
notice, statement or demand authorized by this Agreement to be given or made by the holder of any Warrant or by the Company to or on
the Warrant Agent shall be sufficiently given (i) if by email, when the email is sent, (ii) if by hand or overnight delivery, when so
delivered, or (iii) if sent by certified mail or private courier service within five days after deposit of such notice, postage prepaid,
addressed (until another address is filed in writing by the Warrant Agent with the Company), as follows:

 

American
Stock Transfer & Trust Company, LLC

6201
15th Avenue

Brooklyn,
NY 11219

Attn:
Reorg Department

 

with
a copy in each case to:

 

Wilson
Sonsini Goodrich & Rosati

Professional
Corporation

1301
Avenue of the Americas

New
York, NY 10019

Attn:
Sally Yin

E-mail:
syin@wsgr.com

  

9.3. Applicable
Law and Exclusive Forum. The validity, interpretation, and performance of this Agreement and of the Warrants shall be governed in
all respects by the laws of the State of New York, without giving effect to conflicts of law principles that would result in the application
of the substantive laws of another jurisdiction. Subject to applicable law, the Company hereby agrees that any action, proceeding or
claim against it arising out of or relating in any way to this Agreement shall be brought and enforced in the courts of the State of
New York or the United States District Court for the Southern District of New York, and irrevocably submits to such jurisdiction, which
jurisdiction shall be exclusive forum for any such action, proceeding or claim. The Company hereby waives any objection that such courts
represent an inconvenient forum. Notwithstanding the foregoing, the provisions of this paragraph will not apply to suits brought to enforce
any liability or duty created by the Act and the Exchange Act or any other claim for which the federal district courts of the United
States of America are the sole and exclusive forum.

 

Any
person or entity purchasing or otherwise acquiring any interest in the Warrants shall be deemed to have notice of and to have consented
to the forum provisions in this Section 9.3. If any action, the subject matter of which is within the scope the forum provisions above,
is filed in a court other than a court located within the State of New York or the United States District Court for the Southern District
of New York (a “foreign action”) in the name of any warrant holder, such warrant holder shall be deemed to have consented
to: (x) the personal jurisdiction of the state and federal courts located within the State of New York or the United States District
Court for the Southern District of New York in connection with any action brought in any such court to enforce the forum provisions (an
“enforcement action”), and (y) having service of process made upon such warrant holder in any such enforcement action by
service upon such warrant holder’s counsel in the foreign action as agent for such warrant holder.

 

    11

     

    

 

9.4. Persons
Having Rights under this Agreement. Nothing in this Agreement expressed and nothing that may be implied from any of the provisions
hereof is intended, or shall be construed, to confer upon, or give to, any person or corporation other than the parties hereto and the
Registered Holders of the Warrants and, for the purposes of Sections 7.4, 9.4 and 9.8 hereof, the Representative, any right, remedy,
or claim under or by reason of this Warrant Agreement or of any covenant, condition, stipulation, promise, or agreement hereof. The Representative
shall be deemed to be a third-party beneficiary of this Agreement with respect to Sections 7.4, 9.4 and 9.8 hereof. All covenants, conditions,
stipulations, promises, and agreements contained in this Warrant Agreement shall be for the sole and exclusive benefit of the parties
hereto (and the Representative with respect to the Sections 7.4, 9.4 and 9.8 hereof) and their successors and assigns and of the Registered
Holders of the Warrants.

 

9.5. Examination
of the Warrant Agreement. A copy of this Agreement shall be available at all reasonable times at the office of the Warrant Agent
in the Borough of Manhattan, City and State of New York, for inspection by the Registered Holder of any Warrant. The Warrant Agent may
require any such holder to submit his Warrant for inspection by it.

 

9.6. Counterparts.
This Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all purposes
be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

  

9.7. Effect
of Headings. The section headings herein are for convenience only and are not part of this Agreement and shall not affect the interpretation
thereof.

 

9.8 Amendments.
This Agreement may be amended by the parties hereto without the consent of any Registered Holder for the purpose of curing any ambiguity,
or of curing, correcting or supplementing any defective provision contained herein or adding or changing any other provisions with respect
to matters or questions arising under this Agreement as the parties may deem necessary or desirable and that the parties deem shall not
adversely affect the interest of the Registered Holders. All other modifications or amendments, including any amendment to increase the
Warrant Price or shorten the Exercise Period, shall require the written consent or vote of the Registered Holders of (i) a majority
of the then outstanding Public Warrants if such modification or amendment is being undertaken prior to, or in connection with, the consummation
of a Business Combination or (ii) a majority of the then outstanding Warrants if such modification or amendment is being undertaken
after the consummation of a Business Combination. Notwithstanding the foregoing, the Company may lower the Warrant Price or extend the
duration of the Exercise Period pursuant to Sections 3.1 and 3.2, respectively, without the consent of the Registered Holders. The provisions
of this Section 9.8 may not be modified, amended or deleted without the prior written consent of the Representative.

 

9.9 Trust
Account Waiver. The Warrant Agent acknowledges and agrees that it shall not make any claims or proceed against the trust account
established by the Company in connection with the Public Offering (as more fully described in the Registration Statement) (“Trust
Account”), including by way of set-off, and shall not be entitled to any funds in the Trust Account under any circumstance.
In the event that the Warrant Agent has a claim against the Company under this Agreement, the Warrant Agent will pursue such claim solely
against the Company and not against the property held in the Trust Account.

 

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

  

[signature
page follows]

 

    12

     

    

 

IN
WITNESS WHEREOF, this Agreement has been duly executed by the parties hereto as of the day and year first above written.

 

	 	Plutonian Acquisition
    Corp.
	 	 	 
	 	By:	 
	 	Name: 	Qiang Tan
	 	Its:	Chief Executive Officer
	 	 	 
	 	American Stock
    Transfer & Trust Company, LLC
	 	 	 
	 	By:	 
	 	Name:	 
	 	Its:	 

 

[Signature
Page to Warrant Agreement]

 

    13

     

    

 

EXHIBIT
A

 

WARRANT
CERTIFICATE

 

    14

     

    

 

EXHIBIT
B

 

LEGEND
FOR PRIVATE PLACEMENT WARRANTS

 

THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES
LAWS, AND MAY NOT BE OFFERED, SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED,
AND ANY APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM REGISTRATION IS AVAILABLE. IN ADDITION, SUBJECT TO ANY ADDITIONAL LIMITATIONS
ON TRANSFER DESCRIBED IN THE LETTER AGREEMENT BY AND AMONG PLUTONIAN ACQUISITION CORP. (THE “COMPANY”), EF
HUTTON AND THE OTHER PARTIES THERETO, THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD OR TRANSFERRED PRIOR TO THE DATE
THAT IS THIRTY (30) DAYS AFTER THE DATE UPON WHICH THE COMPANY COMPLETES ITS INITIAL BUSINESS COMBINATION (AS DEFINED IN SECTION 3 OF
THE WARRANT AGREEMENT REFERRED TO HEREIN) EXCEPT TO A PERMITTED TRANSFEREE (AS DEFINED IN SECTION 5.6 OF THE WARRANT AGREEMENT) WHO AGREES
IN WRITING WITH THE COMPANY TO BE SUBJECT TO SUCH TRANSFER PROVISIONS.

 

SECURITIES
EVIDENCED BY THIS CERTIFICATE AND SHARES OF THE COMPANY ISSUED UPON EXERCISE OF SUCH SECURITIES SHALL BE ENTITLED TO REGISTRATION RIGHTS
UNDER A REGISTRATION RIGHTS AGREEMENT TO BE EXECUTED BY THE COMPANY.

 

 

15

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