Document:

Exhibit 10.9

 

REGISTRATION
RIGHTS AGREEMENT FOR INVESTORS

 

THIS
REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made as of
[_____], 2018, by and among Maestro Sensors Inc., a Delaware corporation (“Company”), and
the persons listed on Schedule A hereto, referred to individually as the “Stockholder” and collectively
as the “Stockholders”.

 

A.
In connection with the Securities Purchase Agreement by and among the parties hereto,
dated as of [_____], 2018 (the “Securities Purchase Agreement”), the Company
has agreed, upon the terms and subject to the conditions of the Securities Purchase Agreement, to issue and sell to each Investor
Shares (as defined in the Securities Purchase Agreement), which will be convertible into Conversion Shares (as defined in the Securities
Purchase Agreement) in accordance with the terms of the Series A Preferred Stock, par value $0.0001 (the “Series A Preferred
Stock”), set forth in the Company’s Amended and Restated Certificate of Incorporation (the “Certificate”).

 

B. To
induce the Stockholders to consummate the transactions contemplated by the Securities Purchase Agreement, the Company has
agreed to provide certain registration rights under the Securities Act, and applicable state securities laws to the
Stockholders, and their assignees or successors in interest, certain rights to provide for the registration for resale of the
Conversion Shares by means of a Registration Statement under the Securities Act, pursuant to the terms of this Agreement.
Such Conversion Shares acquired by the Stockholders and their assignees or successors in interest, are referred to collectively as
the “Registrable Securities”.

 

C.
Unless otherwise provided in this Agreement, capitalized terms used herein shall have the respective meanings set forth
in Section 13 hereof.

 

NOW, THEREFORE,
in consideration of the above premises and the mutual covenants contained herein and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Company and Stockholder hereby agree as follows:

 

1.
Registration.

 

(a) Piggyback
Registrations Rights. If, at any time after the Company shall become subject to the periodic reporting obligations (a “Reporting
Company”) under the Securities and Exchange Act of 1934, as amended (the “1934 Act”)
through the date that is five years after the date the Company becomes a Reporting Company, there is not an effective Registration
Statement covering the Registrable Securities, and the Company shall determine to prepare and file with the Commission a Registration
Statement relating to an offering for its own account or the account of others under the Securities Act of any of its equity securities
(other than on Form S-4 or Form S-8, each as promulgated under the Securities Act, or their then equivalent relating to equity
securities to be issued solely in connection with any acquisition of any entity or business or equity securities issuable in connection
with stock option or other employee benefit plans), then the Company shall send to the Stockholders a written notice of such determination
at least twenty (20) days prior to the filing of any such Registration Statement and shall, include in such Registration Statement
all Registrable Securities requested by any Stockholder hereunder to be included in the registration within ten (10) days after
the Company sends such notice to the Stockholders (the “Piggyback Shares”) for resale and offer on a continuous
basis pursuant to Rule 415; provided, that (i) if, at any time after giving written notice of its intention to register any securities
and prior to the effective date of the Registration Statement filed in connection with such registration, the Company determines
for any reason not to proceed with such registration, the Company will be relieved of its obligation to register any Registrable
Securities in connection with such registration, (ii) in case of a determination by the Company to delay registration of its securities,
the Company will be permitted to delay the registration of Registrable Securities for the same period as the delay in registering
such other securities, (iii) each Stockholder is subject to confidentiality obligations with respect to any information gained
in this process or any other material non-public information he, she or it obtains, (iv) each Stockholder or assignee or successor
in interest is subject to all applicable laws relating to insider trading or similar restrictions; and (v) if all of the Registrable
Securities of the Stockholders cannot be so included due to Commission Comments or Underwriter Cutbacks, then the Company may
reduce, in accordance with the provisions of Section I (c) hereof, the number of securities covered by such Registration Statement
to the maximum number which would enable the Company to conduct such offering in accordance with the provisions of Rule 415.

 

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(b) Initial Registration
Statement. At the election of each Stockholder, the Company shall be required to include up to all Piggyback Shares held by
such Stockholder for resale and offer on a continuous basis pursuant to Rule 415 in the first Registration Statement filed after
the date that it becomes a Reporting Company (the “Initial Registration Statement”); provided, however,
that if all of the Registrable Securities of the Stockholders cannot be so included due to Commission Comments or Underwriter
Cutbacks, then the Company may reduce, in accordance with the provisions of Section I (c) hereof, the number of securities covered
by the Initial Registration Statement to the maximum number which would enable the Company to conduct such offering in accordance
with the provisions of Rule 415.

 

(c)
Cutback Provisions. In the event all of the Registrable
Securities cannot be or are not included in a Registration Statement due to Commission Comments or Underwriter Cutbacks, the Company
and the Stockholders agree that securities shall be removed from such Registration Statement in the
following order until no further removal is required by Commission Comments or Underwriter Cutbacks:

 

(i)  First, any securities held by any former employee, consultant or affiliate of the Company shall be removed, pro rata based
on the number of securities being registered for such former employees, consultants or affiliates held by all of the former employees
of the Company and any of their affiliates and successors in interest, whether pursuant to agreement or otherwise and any other
person with any registration rights outstanding on the date hereof;

 

(ii) Second,
the securities held by National Securities Corporation (“National Securities”) and its members and affiliates,
if any, obtained solely by reason of providing services to the Company, which are being registered pursuant to any registration
rights agreement or otherwise (for clarity, any securities held by National Securities or its members or affiliates which were
acquired upon payment of a purchase price in cash or property will not be subject to this provision (c)(ii)); and

 

(iii) Third,
the Registrable Securities held by the Stockholders that are requested to be included in the Registration Statement shall be removed,
pro rata based on the number of Registrable Shares held by each Stockholder in comparison to the number of Registrable Securities
held by all Stockholders who have requested to include any Registrable Securities in the Registration Statement.

 

(d) Mandatory
Registrations. In the event all of the Piggyback Shares of
the Stockholders are not included in a Registration Statement due to Commission Comments or Underwriter Cutbacks, the Company
shall prepare and file an additional Registration Statement (the “Follow-up Registration Statement”) with
the Commission within sixty (60) days following the effectiveness of the previously filed Registration Statement; provided,
however, that the time period for filing the Follow-up Registration shall be extended to the extent that the Commission publishes
written Commission Guidance or the Company receives written Commission Guidance which provides for a longer period before a Follow-up
Registration Statement may be filed. The Follow-up Registration Statement shall cover the resale of all of the Registrable
Securities that were excluded from any previously filed Registration Statement. In the event that all of the Piggyback Shares
have not been registered in a Registration Statement after the Follow-up Registration Statement has been declared effective, the
Company shall use commercially reasonable efforts thereafter to register any remaining unregistered Registrable Securities, subject
to the provisions of Section 1(e) hereof.

 

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(e) Filing;
Content. The Company will use its commercially reasonable efforts to cause each Registration Statement pursuant to which any
Registrable Securities are included, including the Initial or Follow-up Registration Statement, to contain the Plan of Distribution
substantially similar to that attached hereto as Schedule B. The Company shall use its commercially reasonable efforts
to cause any Registration Statement filed under this Section 1, including the Initial and Follow-up Registration Statement, to
be declared effective under the Securities Act as promptly as practicable after the filing thereof and shall keep such Registration
Statement continuously effective under the Securities Act until the earlier of (i) one year after its Effective. Date (provided,
however, the one year period shall be extended for any Grace Period), (ii) such time as all of the Registrable Securities covered
by such Registration Statement have been publicly sold by the Stockholders, or (iii) such time as all of the Registrable Securities
covered by such Registration Statement may be sold by the Stockholders pursuant to Rule 144 without regard to both the volume
limitations for sales as provided in Rule 144 and the limitations for such sales provided in Rule 144(i), if applicable, as determined
by the counsel to the Company pursuant to a written opinion letter to such effect, addressed and acceptable to the Company’s
transfer agent and the affected Stockholder (“Effectiveness Period”). By 5:00 p.m. (New York City time) on
the business day immediately following the Effective Date of a Registration Statement, the Company shall file with the Commission
in accordance with Rule 424 under the Securities Act the final Prospectus to be used in connection with sales pursuant to such
Registration Statement (whether or not such filing is technically required under such Rule).

 

(f)
Termination of Registration Rights. The registration rights afforded to the Stockholders under this Section 1 shall
terminate on the earliest date when all Registrable Securities of the Stockholder either: (i) have been publicly sold by the Stockholder
pursuant to a Registration Statement, (ii) have been covered by an effective Registration Statement which has been effective for
an aggregate period of sixteen (16) months (whether or not consecutive), provided, however, the time period shall be calculated
so as to exclude any Grace Period, or (iii) may be sold by the Stockholder pursuant to Rule 144 without regard to both the volume
limitations for sales as provided in Rule 144 and the limitations for such sales provided in Rule 144(i), if applicable, as determined
by the counsel to the Company pursuant to a written opinion letter to such effect, addressed and acceptable to the Company’s transfer
agent and the affected Stockholder.

 

2.
Demand Registration Rights.

 

(a) Demand
Right. Commencing on the date that is one hundred eighty (180) days after the Company becomes a Reporting Company, the Stockholders
as a group representing at least 50% of the Registrable Securities (a “Requesting Group”) shall have
a separate one-time right, by written notice to the Company, signed by such Stockholders (the “Demand Notice”),
to request the Company to register for resale all Registrable Securities included by the Requesting Group in the Demand
Notice (the “Demand Shares”) under and in accordance with the
provisions of the Securities Act by filing with the Commission a Registration Statement
covering the resale of such Demand Shares (the “Demand Registration Statement’). A copy of the Demand Notice
also shall be provided by the Company to each of the other Stockholders who will have fifteen (15) days to notify the Company
in writing to include their Registrable Securities as part of the Demand Shares, the failure of which, however, shall not in any
way affect the rights of the Requesting Group pursuant to this Section 2(a). The Demand Registration Statement required hereunder
shall be on any form of registration statement then available for the registration of the Registrable Securities, as selected
by the Company in accordance with applicable law and regulation. The Company will use its commercially reasonable efforts to file
the Demand Registration Statement within forty-five (45) days of the receipt of the Demand Notice, provided if the Demand Notice
is given within the forty-five (45) days after the prior fiscal year end, then the Company will use its reasonably commercial
efforts to file the Demand Registration Statement within ninety (90) days of the fiscal year end of the Company. The Company shall
use its commercially reasonable efforts to cause the Demand Registration Statement to be declared effective under the Securities
Act as promptly as practicable after the filing thereof and to keep the Demand Registration Statement continuously effective under
the Securities Act during the Effectiveness Period.

 

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(b) Inclusion
of Other Registrable Shares and Cutback Provisions. If as a result of Commission Comments, not all shares are included that
are desired to be included in a Registration Statement for the Demand Shares, the provisions of Section 1(c) shall apply, subject
to the Demand Priority (as defined below) of the Requesting Group. Pursuant to the piggyback registration rights granted under
this Agreement, the Company may include the Registrable Shares of the other Stockholders which will be subject to the provision
of Section 1(c) hereof, except that under Section 1(c)(iii), there will be no cutback of the Registrable Securities of the Requesting
Group until the Stockholders of Piggyback Shares and the shares of any other person exercising piggyback rights under any other
registration rights agreement (except for National Securities and their current and former affiliates, which shall have the priority
established in Section 1(c)) have been removed, and thereafter
if any further Registrable Securities have to be removed then those of the Requesting Group will be removed pro rata (the “Demand
Priority”). Notwithstanding the foregoing, if any other securities of any person other than the Stockholders or
the Requesting Group or National Securities and their current and former affiliates are included on the Demand Registration Statement,
such securities will be removed, if required pursuant to Commission Comments, after removal of the securities indicated in Section
1(c)(i) and before the securities indicated in Section 1(c)(ii), as such persons decide among themselves, and if there is no agreement
at to such removal provided to the Company within a reasonable time, time being of the essence, then all the such securities will
be removed.

 

(c) Termination
of Demand Registration Rights. The registration rights afforded to each Stockholder under this Section 2 shall terminate on
the earliest date when all Registrable Securities of the Stockholder either: (i) have been publicly sold by the Stockholder pursuant
to a Registration Statement, or (ii) may be sold by the Stockholder pursuant to Rule 144 without regard to both the volume limitations
for sales as provided in Rule 144 and the limitations for such sales provided in Rule 144(i), if applicable, as determined by
the counsel to the Company pursuant to a written opinion letter to such effect, addressed and acceptable to the Company’s transfer
agent and the affected Holder in its reasonable discretion.

 

3. Registration
Procedures. Whenever any Registrable Securities are to be registered pursuant to this Agreement, the Company shall use its
commercially reasonable efforts to effect the registration and sale of such Registrable Securities in accordance with the intended
method of disposition thereof, and pursuant thereto the Company shall have the following obligations:

 

(a) The Company
shall prepare and file with the Commission a Registration Statement with respect to such Registrable Securities and use its commercially
reasonable efforts to cause such Registration Statement to become effective.

 

(b)
The Company shall prepare and file with the Commission such amendments (including post-effective amendments) and supplements
to a Registration Statement and the Prospectus used in connection
with such Registration Statement, which Prospectus is to be filed pursuant to Rule 424 promulgated under the Securities Act, as
may be necessary to keep such Registration Statement effective at all times during the Effectiveness Period, and, during such period,
comply with the provisions of the Securities
Act with respect to the disposition of all Registrable Securities of the Company covered by such Registration Statement until such
time as all of such Registrable Securities shall have been disposed of in accordance with the intended methods of disposition by
the seller or sellers thereof as set forth in such Registration Statement. In
the case of amendments and supplements to a Registration Statement which are required to be filed pursuant to this Agreement by
reason of the Company filing a report on Forms 10-K, 10-Q or Current Report on Form 8-K, or any analogous report under the Securities
Exchange Act, the Company shall have incorporated such report by reference into such Registration Statement, if applicable, or
shall file such amendments or supplements with the Commission on the same day on which the Securities Exchange Act report is filed
which created the requirement for the Company to amend or supplement such Registration Statement.

 

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(c)
The Company shall furnish to each Stockholder holding Registrable Securities in any Registration Statement, without charge,
(i) promptly after the same is prepared and filed with the Commission at least one copy of such Registration Statement and any
amendment(s) thereto, including financial statements and schedules, all documents incorporated therein by reference, if requested
by such seller, all exhibits and each preliminary Prospectus, (ii) upon the effectiveness of any Registration Statement, ten (10)
copies of the Prospectus included in such Registration Statement and all amendments and supplements thereto (or such other number
of copies as such seller may reasonably request), and (iii) such other documents, including copies of any preliminary or final
Prospectus, as such seller may reasonably request from time to time in order to facilitate the disposition of the Registrable Securities
owned by such seller.

 

(d) The
Company shall use its commercially reasonable efforts to (i) register and qualify, unless an exemption from registration and qualification
applies, the resale by any seller of the Registrable Securities covered by a Registration Statement under such other securities
or “blue sky” laws of all applicable jurisdictions in the United States, (ii) prepare and file in those jurisdictions,
such amendments (including post-effective amendments) and supplements to such registrations and qualifications as may be necessary
to maintain the effectiveness thereof during the Effectiveness Period, (iii) take such other actions as may be necessary to maintain
such registrations and qualifications in effect at all times during the Effectiveness Period, and (iv) take all other actions
reasonably necessary or advisable to qualify the Registrable Securities for sale in such jurisdictions; provided, however,
that the Company shall not be required in connection therewith or as a condition thereto to (x) qualify to do business in
any jurisdiction where it would not otherwise be required to qualify but for this Section 3(d), (y) subject itself to general
taxation in any such jurisdiction, or (z) file a general consent to service of process in any such jurisdiction.

 

(e)
The Company shall use its best efforts to prevent the issuance of any stop order or other suspension of effectiveness of
a Registration Statement, or the suspension of the qualification of any of Registrable Securities for sale in any jurisdiction
and, if such an order or suspension is issued, to obtain the withdrawal of such order or suspension at the earliest practicable
time and to notify the Stockholders holding any Registrable Securities included in the offering under such Registration Statement
of such order and the resolution thereof or its receipt of actual notice of the initiation or threat of any proceeding for such
purpose.

 

(f)
The Company shall notify the Stockholder in writing of the happening of any event, as promptly as practicable after becoming
aware of such event, as a result of which the Prospectus included in a Registration Statement, as then in effect, includes an untrue
statement of a material fact or omission to state a material fact required to be stated therein or necessary to make the statements
therein, in the light of the circumstances under which they were made, not misleading (provided that in no event shall such notice
contain any material, nonpublic information), and, subject to Section 3(r), promptly prepare a supplement or amendment to such
Registration Statement to correct such untrue statement or omission, and deliver ten
(10) copies of such supplement or amendment to the Stockholder (or such other number of copies as the Stockholder may reasonably
request).

 

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(g)
The Company shall promptly notify the Stockholder in writing
(i) when a Prospectus or any Prospectus supplement or post-effective amendment has been filed, and when a Registration Statement
or any post-effective amendment has become effective (notification of such effectiveness shall be delivered to the Stockholder
by facsimile on the same day of such effectiveness or by overnight delivery), (ii) of any request by the Commission for amendments
or supplements to a Registration Statement or related Prospectus or related information, and (iii) of the Company’s reasonable
determination that a post-effective amendment to a Registration Statement would be appropriate.

 

(h)
If the Stockholder is required under applicable securities laws to be described in
a Registration Statement as an underwriter, at the reasonable request of such Stockholder, the Company shall use its best efforts
to furnish to such Stockholder, on the date of the effectiveness of such Registration Statement and thereafter from time to time
on such dates as the Stockholder may reasonably request (i) a letter, dated such date, from the Company’s independent certified
public accountants in form and substance as is customarily given by independent certified public accountants to underwriters in
an underwritten public offering, addressed to the Stockholder, and (ii) an opinion, dated as of such date, of counsel representing
the Company for purposes of such Registration Statement, in form, scope and substance as is customarily given in an underwritten
public offering, addressed to the Stockholder.

 

(i) 
If the Stockholder is required under applicable securities laws to be described in a Registration
Statement as an underwriter, then at the request of such Stockholder in connection with such Stockholder’s due diligence requirements,
the Company shall make available for inspection by (i) the Stockholder, (ii)
the Stockholder’s legal counsel, and (iii) one firm of accountants or other agents retained by the Stockholder (collectively,
the “Inspectors”), all pertinent financial and other records, and pertinent corporate documents and properties
of the Company (collectively, the “Records”), as shall be reasonably deemed necessary by each Inspector,
and cause the Company’s officers, directors and employees to supply all information which any Inspector may reasonably request;
provided, however, that each Inspector shall agree to hold in
strict confidence and shall not make any disclosure (except to the Stockholder) or use of any Record or other information
which the Company determines in good faith to be confidential, and of which determination the Inspectors are so notified, unless
(a) the disclosure of such Records is necessary to avoid or correct a misstatement or omission in any Registration Statement or
is otherwise required under the Securities Act, (b) the release of such Records is ordered pursuant to a final, non-appealable
subpoena or order from a court or government body of competent jurisdiction, or (c) the information in such Records has been made
generally available to the public other than by disclosure in violation of this or any other agreement of which the Inspector
has knowledge. Each Stockholder agrees that it shall, upon learning that disclosure of such Records is sought in or by a court
or governmental body of competent jurisdiction or through other means, give prompt notice to the Company and allow the Company,
at its expense, to undertake appropriate action to prevent disclosure of, or to obtain a protective order for, the Records deemed
confidential. Nothing herein (or in any other confidentiality agreement between the Company and the Stockholder) shall be deemed
to limit the Stockholder’s ability to sell Registrable Securities in a manner which is otherwise consistent with applicable laws
and regulations.

 

(j)
The Company shall hold in confidence and not make any disclosure
of information concerning the Stockholder provided to the Company unless (i) disclosure of such information is necessary to comply
with federal or state securities laws, (ii) the disclosure of such information is necessary to avoid or correct a misstatement
or omission in any Registration Statement, (iii) the release of such information is ordered pursuant to a subpoena or other final,
non-appealable order from a court or governmental body of competent jurisdiction, (iv) such information has been made generally available
to the public other than by disclosure in violation of this Agreement or any other agreement, or (v) the Stockholder provides information
to the Company intended for inclusion in a Registration Statement. The Company agrees that it shall, upon learning that disclosure
of such information concerning the Stockholder is sought in or by a court or governmental body of competent jurisdiction or through
other means, give prompt written notice to the Stockholder if permitted by applicable law or regulation and allow the Stockholder,
at the Stockholder’s expense, to undertake appropriate action to prevent disclosure of, or to obtain a protective order for, such
information.

 

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(k) The
Company shall (i) if applicable, use its best efforts to cause all of the Registrable Securities covered by a Registration Statement
to be listed on each securities exchange on which securities of the same class or series issued by the Company are then listed,
if any, if the listing of such Registrable Securities is then permitted under the rules of such exchange, or (ii) otherwise, use
its commercially reasonable efforts to secure designation and quotation of all of the Registrable Securities covered by a Registration
Statement on any one of the different levels of The NASDAQ Stock Market, or (iii) if, despite the Company’s best efforts or commercially
reasonable efforts, as applicable, to satisfy, the preceding clauses (i) and (ii) the Company is unsuccessful in satisfying the
preceding clauses (i) and (ii), to instead secure the inclusion for quotation on the Over-the-Counter Bulletin Board for such
Registrable Securities and, without limiting the generality of the foregoing, to use its commercially reasonable efforts to encourage
at least two market makers to register with the Financial Industry Regulatory Authority, Inc. (“FINRA”) as
such with respect to such Registrable Securities. For the avoidance of doubt, subject to and in accordance with Section 5, the
Company shall pay all fees and expenses of the Company in connection with satisfying its obligation under this Section 3(k).

 

(1)
If requested by the Stockholder, the Company shall (i) as soon as practicable incorporate
in a Prospectus supplement or post-effective amendment such information as the Stockholder reasonably requests to be included therein
relating to the sale and distribution of Registrable Securities, including, without limitation, information with respect to the
number of Registrable Securities being offered or sold, the purchase price being paid therefor and any other terms of the offering
of the Registrable Securities to be sold in such offering; (ii) as soon as practicable make all required filings of such Prospectus
supplement or post-effective amendment after being notified of the matters to be incorporated in such Prospectus supplement or
post-effective amendment; and (iii) as soon as practicable, supplement or make amendments to any Registration Statement if reasonably
requested by the Stockholder holding any Registrable Securities.

 

(m) The Company
shall cooperate with each Stockholder who holds Registrable Securities being offered and, to the extent applicable, facilitate
the timely preparation and delivery of certificates (not bearing any restrictive legend) representing the Registrable Securities
to be offered pursuant to a Registration Statement and enable such certificates to be in such denominations or amounts, as the
case may be, as the Stockholder may reasonably request and registered in such names as the Stockholder may request.

 

(n) The
Company shall use its commercially reasonable efforts to cause the Registrable Securities covered by a Registration Statement
to be registered with or approved by such other U.S. governmental agencies or authorities, but only in matters not contemplated
in Section 3(d) or reasonably related to such matters (which matters are to be governed exclusively by Section 3(d)), as may be
strictly necessary to consummate the disposition of such Registrable Securities by the Stockholder strictly in accordance with
the Plan of Distribution included in the Registration Statement (as such Plan of Distribution may be modified from time to time
in any filing with the Commission).

 

(o) The
Company shall make generally available to its security holders as soon as practicable, but not later than ninety (90) days after
the close of the period covered thereby (or, if different,
within the period permitted for the filing of reports on Forms 10-K or 10-Q), an earnings statement (in form complying with, and
in the manner provided by, the provisions of Rule 158 under the Securities Act) covering a twelve-month period beginning not later
than the first day of the Company’s fiscal quarter next following the Effective Date of a Registration Statement.

 

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(p)
The Company shall otherwise use its commercially reasonable efforts to comply with all applicable rules and regulations
of the Commission in connection with any registration hereunder.

 

(q) Within
two (2) business days after a Registration Statement which covers Registrable Securities is ordered effective by the Commission,
the Company shall deliver, and shall cause legal counsel for the Company to deliver, to the transfer agent for such Registrable
Securities (with copies to the Stockholder whose Registrable Securities are included in such Registration Statement) confirmation
that such Registration Statement has been declared effective by the Commission in the form attached hereto as Exhibit A and the
Irrevocable Transfer Agent Instructions in the form attached hereto as Exhibit B.

 

(r)  Notwithstanding
anything to the contrary herein, at any time after the Effective Date of a Registration Statement, the Company may delay the
disclosure of material, non-public information concerning the Company the disclosure of which at the time is not, in the good
faith opinion of the Board of Directors of the Company, in the best interest of the Company and not, after consultation with
legal counsel, otherwise required (a “Grace Period”); provided, that the Company shall promptly (i)
notify the Stockholder in writing of the existence of material, non-public information giving rise to a Grace Period
(provided that in each notice the Company will not disclose the content of such material, non-public information to the
Stockholder) and the date on which the Grace Period will begin, and (ii) notify the Stockholder in writing of the date on
which the Grace Period ends; and, provided further, that no Grace Period shall exceed sixty (60) consecutive days and during
any three hundred sixty-five (365) day period such Grace Periods shall not exceed an aggregate of one hundred twenty (120)
days (each, an “Allowable Grace Period”). For purposes of determining the length of a Grace Period
above, the Grace Period shall begin on and include the date the Stockholder receives the notice referred to in clause (i) and
shall end on and include the later of the date the Stockholder receives the notice referred to in clause (ii) and the date
referred to in such notice. The provisions of Section 3(f) hereof shall not be applicable during the period of any Allowable
Grace Period. Upon expiration of the Grace Period, the Company shall again be bound by Section 3(f) with respect to the
information giving rise thereto unless such material, non-public information is no longer applicable. Notwithstanding
anything to the contrary, the Company shall cause its transfer agent to deliver unlegended shares of Common Stock to a
transferee of the Stockholder in connection with any sale of Registrable Securities with respect to which the Stockholder has
entered into a contract for sale, and delivered a copy of the Prospectus included as part of the applicable Registration
Statement (unless an exemption from such Prospectus delivery requirements exists), prior to the Stockholder’s receipt of the
notice of a Grace Period or, if earlier, Stockholders knowledge of the material, non-public information concerning the
Company that gave rise to the Grace Period, and for which the Stockholder has not yet settled.

 

4.
Obligations of the Stockholders.

 

(a)
At least five (5) business days prior to the first anticipated filing date of a Registration Statement, the Company shall
notify the Stockholders in writing of the information the Company requires from each Stockholder if the Stockholder’s Registrable
Securities are to be included in such Registration Statement. It shall be a condition precedent to the obligations of the Company
to complete the registration pursuant to this Agreement with respect to any Registrable Securities of the Stockholder that the
Stockholder shall furnish to the Company such information regarding itself, the Registrable Securities held by it and the intended
method of disposition of the Registrable Securities held by it as
shall be reasonably required to effect the effectiveness of the registration of such Registrable Securities and shall execute such
documents in connection with such registration as the Company may reasonably request.

 

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(b)
The Stockholder, by the Stockholder’s acceptance of the Registrable Securities, agrees to cooperate with the Company
as reasonably requested by the Company in connection with the preparation and filing of any Registration Statement hereunder, unless
the Stockholder has notified the Company in writing of the Stockholder’s election to exclude all of the Stockholder’s Registrable
Securities from such Registration Statement.

 

(c)
The Stockholder agrees that, upon receipt of any notice from the Company of the happening of any event of the kind described
in Sections 3(e) or 3(f) or of a Grace Period under Section 3(r), the Stockholder will immediately discontinue disposition of Registrable
Securities pursuant to any Registration Statement(s) covering such Registrable Securities until the Stockholder’s receipt of the
copies of the supplemented or amended Prospectus contemplated by Sections 3(e) or 3(f) or receipt of notice that no supplement
or amendment is required. Notwithstanding anything to the contrary, the Company shall cause its transfer agent to deliver unlegended
shares of Common Stock to a transferee of the Stockholder in connection with any sale of Registrable Securities with respect to
which the Stockholder has entered into a contract for sale prior to the Stockholder’s receipt of a notice from the Company of the
happening of any event of the kind described in Sections 3(e) or 3(f) or of any Grace Period, or, if earlier, Stockholders knowledge
of the material, non-public information concerning the Company or the facts or circumstances that gave rise to the Grace Period
or of the Section 3(e) or 3(f) event, and for which the Stockholder has not yet settled.

 

(d) The Stockholder covenants and agrees that it will comply with the Prospectus delivery requirements of the Securities Act
as applicable to it or an exemption therefrom in connection with sales of Registrable Securities pursuant to a Registration Statement.

 

5. Registration
Expenses. All expenses incident to the Company’s performance of or compliance with this Agreement, including without limitation
all registration and filing fees, fees and expenses of compliance with securities or blue sky laws, printing expenses, messenger
and delivery expenses, fees and disbursements of custodians, and fees and disbursements of counsel for the Company and all independent
certified public accountants, underwriters (excluding discounts, commissions and placement agent fees) and other Persons retained
by the Company (all such expenses being herein called “Registration Expenses”),
shall be borne by the Company. Further, the Company shall pay its internal expenses (including, without limitation, all
salaries and expenses of its officers and employees performing legal or accounting duties), the expense of any annual audit or
quarterly review, the expense of any liability insurance and the expenses and fees for listing the securities to be registered
on each securities exchange on which similar securities issued by the Company are then listed.

 

    9

     

    

 

6.
Indemnification.

 

In the event any Registrable
Securities are included in a Registration Statement under this Agreement:

 

(a) To the fullest
extent permitted by law, the Company will, and hereby does, indemnify, hold harmless and defend the Stockholder, the directors,
officers, members, partners, employees, agents, representatives of, and each Person, if any, who controls the Stockholder within
the meaning of the Securities Act or the Securities Exchange Act (each, an “Indemnified
Person”), against any losses, claims, damages, liabilities, judgments, fines, penalties, charges, costs, reasonable
attorneys’ fees, amounts paid in settlement or expenses, joint or several, (collectively, “Claims”)
incurred in investigating, preparing or defending any action, claim, suit, inquiry,
proceeding, investigation or appeal taken from the foregoing by or before any court or governmental, administrative or other regulatory
agency, body or the Commission, whether pending or threatened, whether or not an indemnified party is or may be a party thereto
(“Indemnified Damages”), to which any of them may become subject insofar as such Claims (or actions or
proceedings, whether commenced or threatened, in respect thereof) arise out of or are based upon: (i) any untrue statement or
alleged untrue statement of a material fact in a Registration Statement or any post-effective amendment thereto or in any filing
made in connection with the
qualification of the offering under the securities or other “blue sky” laws of any jurisdiction in which Registrable
Securities are offered (“Blue Sky Filing”),
or the omission or alleged omission to state a material fact required to be stated therein or necessary to make the statements
therein not misleading, (ii) any untrue statement or alleged untrue statement of a material fact contained in any preliminary
Prospectus if used prior to the effective date of such Registration Statement, or contained in the final Prospectus (as amended
or supplemented, if the Company files any amendment thereof or supplement thereto with the Commission) or the omission or alleged
omission to state therein any material fact necessary to make the statements made therein, in the light of the circumstances under
which the statements therein were made, not misleading, (iii) any violation or alleged violation by the Company of the Securities
Act or the Securities Exchange Act, any other law, including, without limitation, any state securities law, or any rule or regulation
thereunder relating to the offer or sale of the Registrable Securities pursuant to a Registration Statement or (iv) any violation
of this Agreement (the matters in the foregoing clauses (i) through (iv) being, collectively, “Violations”).
Subject to Section 6(c), the Company shall reimburse the Indemnified Persons, promptly as such expenses are incurred and are due
and payable, for any legal fees or other reasonable expenses incurred by them in connection with investigating or defending any
such Claim. Notwithstanding anything to the contrary contained herein, the indemnification agreement contained in this Section
6(a): (i) shall not apply to a Claim by an Indemnified Person arising out of or based upon a Violation which occurs in reliance
upon and in conformity with information furnished in writing to the Company by such Indemnified Person or by a Related Information
Provider expressly for use in connection with the preparation of the Registration Statement or any such amendment thereof or supplement
thereto and (ii) shall not be available to the extent such Claim is based on a failure of the Stockholder to deliver or to cause
to be delivered the Prospectus made available by the Company, including a corrected Prospectus, if such Prospectus or corrected
Prospectus was timely made available by the Company pursuant to Section 3(c); and (iii) shall not apply to amounts paid in settlement
of any Claim if such settlement is effected without the prior written consent of the Company, which consent shall not be unreasonably
withheld or delayed. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf
of the Indemnified Person and shall survive the transfer of the Registrable Securities by the Stockholder pursuant to Section
10. “Related Information Provider” means, in respect of any Indemnified Person, the Stockholder to which such Indemnified Person is related or another Indemnified Person that is related to the Stockholder to which such Indemnified
Person is related.

 

(b) To the
fullest extent permitted by law, in connection with any Registration Statement in which a Stockholder’s Registrable Securities
are included or in which a Stockholder is otherwise participating, such Stockholder will severally and not jointly indemnify and
hold harmless the Company, each of its directors, each of its officers who has signed the Registration Statement, each Person,
if any, who controls the Company within the meaning of the Securities Act, any underwriter, any other Stockholder or other Person
selling securities in such Registration Statement and any controlling person of any such underwriter or other Stockholder or other
Person (each an “Other Indemnified Person”), against any Claims or Indemnified Damages to which any of
them may become subject, under the Securities Act, the Exchange Act or otherwise, insofar as such Claim or Indemnified Damages
arise out of or are based upon any Violation, in each case to the extent, and only to the extent, that such Violation occurs in
reliance upon and in conformity with written information furnished by such Stockholder or by a Related Information Provider expressly
for use in connection with such Registration Statement;
and each such Stockholder will pay, as incurred, any legal or other expenses reasonably incurred by any Other Indemnified Person
intended to be indemnified pursuant to this Section 6(b), in connection with investigating or defending any such Claim; provided,
however, that the indemnity agreement contained in this Section 6(b) shall not apply to amounts paid in settlement of any such
Claim if such settlement is effected without the prior written consent of the Stockholder, which consent shall not be unreasonably
withheld; provided, further, however, that the Stockholder shall be liable under this
Section 6(b) for only that amount of a Claim or Indemnified Damages as does not exceed the net proceeds to the Stockholder as a
result of the sale of Registrable Securities pursuant to such Registration Statement, except in the case of fraud by such Stockholder.
Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of such Other Indemnified
Person and shall survive the transfer of the Registrable Securities by the Stockholder pursuant to Section 10.

 

    10

     

    

 

(c) Promptly after
receipt by an Indemnified Person or Other Indemnified Person under this Section 6 of notice of the commencement of any action
or proceeding (including any governmental action or proceeding) involving a Claim, such Indemnified Person or Other Indemnified
Person shall, if a claim for indemnification in respect thereof is to be made against any indemnifying party under this Section
6, deliver to the indemnifying party a written notice of the commencement thereof, and the indemnifying party shall have the right
to participate in, and, to the extent the indemnifying party so desires, jointly with any other indemnifying party similarly noticed,
to assume control of the defense thereof with counsel mutually satisfactory to the indemnifying party and reasonably satisfactory
to the Indemnified Person or the Other Indemnified Person, as the case may be; provided, however, that an Indemnified Person
or Other Indemnified Person shall have the right to retain its own counsel with the fees and expenses of not more than one counsel
for all such Indemnified Persons or all such Other Indemnified Persons to be paid by the indemnifying party, if, in the reasonable
opinion of counsel retained by the indemnifying party, the representation by such counsel of the Indemnified Person or Other Indemnified
Person and the indemnifying party would be inappropriate due to actual or potential differing interests between such Indemnified
Person or Other Indemnified Person and any other party represented by such counsel in such proceeding. The Other Indemnified Person
or Indemnified Person, as applicable, shall cooperate fully with the indemnifying party in connection with any negotiation or
defense of any such action or Claim by the indemnifying party and shall furnish to the indemnifying party all information reasonably
available to such Other Indemnified Person or such Indemnified Person which relates to such action or Claim. The indemnifying
party shall keep the Other Indemnified Person or Indemnified Person, as applicable, reasonably apprised at all times as to the
status of the defense or any settlement negotiations with respect thereto. No indemnifying party shall be liable for any settlement
of any action, claim or proceeding effected without its prior written consent; provided, however, that the indemnifying
party shall not unreasonably withhold, delay or condition its consent. No indemnifying party shall, without the prior written
consent of the Other Indemnified Person or Indemnified Person, as applicable, consent to entry of any judgment or enter into any
settlement or other compromise which does not include as an unconditional term thereof the giving by the claimant or plaintiff
to such Other Indemnified Person or such Indemnified Person of a release from all liability in respect to the Claim at issue,
and such settlement shall not include any admission as to fault on the part of such Other Indemnified Person or such Indemnified
Person. Following indemnification as provided for hereunder, the indemnifying party shall be subrogated to all rights of the Other
Indemnified Person or Indemnified Person, as applicable, with respect to all third parties, firms or corporations relating to
the matter for which indemnification has been made. The failure to deliver written notice to the indemnifying party within a reasonable
time of the commencement of any such action shall not relieve such indemnifying party of any liability to the Indemnified Person
or Other Indemnified Person, as applicable, under this Section 6, except to the extent that the indemnifying party is materially
prejudiced in its ability to defend such action.

 

    11

     

    

 

(d)
The indemnification required by this Section 6 shall be made by periodic payments of the amount thereof during the course
of the investigation or defense, as and when bills are received or Indemnified Damages are incurred, subject to an undertaking
by the Indemnified Person or the Other Indemnified Person, as applicable, to return such payments to the extent a court of competent
jurisdiction or other competent authority determines that such payments were unlawful or were not required under this Agreement.

 

(e)
Without any duplication or multiplication of damages, the indemnity agreements contained herein shall be in addition to
(i) any cause of action or similar right of the Other Indemnified Person or Indemnified Person against the indemnifying party or
others, and (ii) any liabilities the indemnifying party may be subject to pursuant to the law.

 

(f)  Unless suspended by the underwriting agreement applicable to any registration, the obligations of the Company and Stockholders
under this Section 6 shall survive the completion of any offering of Registrable Securities in a Registration Statement under this
Agreement, or otherwise.

 

7. Contribution.
To the extent any indemnification by an indemnifying party is prohibited or limited by law, such indemnifying party agrees
to make the maximum contribution with respect to any amounts for which it would otherwise be liable under Section 6
to the fullest extent permitted by law; provided, however, that: (i) no Person involved in the sale of Registrable
Securities which Person is guilty of fraudulent misrepresentation (within the meaning of Section 10(f) of the Securities Act)
in connection with such sale shall be entitled to contribution from any Person involved in such sale of Registrable Securities
who was not guilty of fraudulent misrepresentation; and (ii) contribution by any seller of Registrable Securities shall be limited
in amount to the net amount of proceeds received by such seller from the sale of such Registrable Securities pursuant to such
Registration Statement

 

8. No
Delay of Registration. No Stockholder shall have any right to obtain or seek an injunction restraining or otherwise delaying
any registration as the result of any controversy that might arise with respect to the interpretation or implementation of this
Agreement.

 

9.  Reports
under Securities Exchange Act. With a view to making available to the Stockholder the benefits of Rule 144 promulgated under
the Securities Act or any other similar rule or regulation of the Commission that may at any time permit the Stockholder to sell
securities of the Company to the public without registration, once the Company becomes a Reporting Company, the Company agrees
to use its commercially reasonable efforts to continue to be a Reporting Company for five years and further during such time it
is a Reporting Company the Company agrees to use its best efforts to:

 

(a) make and keep public information
available, as those terms are understood and defined in Rule 144;

 

(b) file
with the Commission in a timely manner all reports and other documents required of the Company under the Securities Act and the
Securities Exchange Act so long as the Company remains subject to such requirements and the filing of such reports and other documents
is required for the applicable provisions of Rule 144; and

 

(c)
furnish to the Stockholder so long as the Stockholder owns Registrable Securities, promptly upon request, (i) a written
statement by the Company, if true, that it has complied with the reporting requirements of Rule 144, the Securities Act and the
Securities Exchange Act, (ii) a copy of the most recent annual or quarterly report of the Company and such other reports and documents so filed by the Company, and (iii)
such other information as may be reasonably requested to permit the Stockholder to sell such securities pursuant to Rule 144 without
registration.

 

    12

     

    

 

10. Assignment
of Registration Rights. The rights under this Agreement shall be automatically assignable by the Stockholder to any transferee
of all or any portion of the Stockholder’s Registrable Securities if: (i) the Stockholder agrees in writing with the transferee
or assignee to assign such rights, and a copy of such agreement is furnished to the Company within a reasonable time after such
assignment; (ii) the Company is, within a reasonable time after such transfer or assignment, furnished with written notice of
(a) the name and address of such transferee or assignee, and (b) the securities with respect to which such registration rights
are being transferred or assigned; (iii) immediately following such transfer or assignment the further disposition of such securities
by the transferee or assignee is or might be restricted under the Securities Act and applicable state securities laws; and (iv)
at or before the time the Company receives the written notice contemplated by clause (ii) of this sentence the transferee or assignee
agrees in writing with the Company to be bound by all of the provisions contained herein.

 

11. Subsequent
Registration Rights. The Company agrees that after the date hereof and excluding any registration rights agreement with National
Securities or its members and affiliates, it will not grant to any person any registration right or proceed to register any securities
of any person unless it provides in such agreement or registration that any securities being registered under such agreement or
registration will be subject to the cutback provisions of this Agreement as provided in Section I (c) and Section 2(b).

 

12. Amendment of
Registration Rights. Provisions of this Agreement may be amended and the observance thereof may be waived (either generally
or in a particular instance and either retroactively or prospectively), only with the written consent of the Company and the holders
of at least a majority of the then outstanding Registrable Securities. Any amendment so effected will be binding upon all Holders,
whether or not such Stockholder consents thereto.

 

		13.	Definitions.

 

 (a) “Commission” means the Securities and Exchange Commission.

 

(b)
“Commission Comments” means written comments pertaining solely
to Rule 415 or other comments to the extent they relate to Rule 4 I 5 which are received by the Company from the Commission, and
a copy of which shall have been provided by the Company to the Stockholder, to a filed Registration Statement which limit the amount
of shares which may be included therein to a number of shares which is less than such amount sought to be included thereon as filed
with the Commission.

 

(c)
“Commission Guidance” means (i)
any publicly-available written or oral guidance, comments, requirements or requests of the Commission staff, (ii) the Securities
Act or (iii) the Securities Exchange Act.

 

(d) “Common
Stock” means the common stock, $0.0001 par value per share, of the Company.

 

(e)
“Effective Date” means, as to a Registration Statement, the
date on which such Registration Statement is first declared effective by the Commission.

 

    13

     

    

 

(f)
“Person” means an individual, a partnership, a limited liability company, a corporation, an association,
a joint stock company, a trust, a joint venture, an unincorporated organization and a governmental entity or any department, agency
or political subdivision thereof.

 

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

 

(h)  “Registrable
Securities” means (i) the Conversion Shares issued or issuable to the
Stockholder or its assignees or successor in interest pursuant to conversion of the Shares and (ii) any other shares of Common
Stock or any other securities issued or issuable with respect to the securities referred to in clause (i) by way of a stock dividend
or stock split or in connection with an exchange or combination of shares, recapitalization, merger, consolidation or other reorganization.

 

(i)
“Registration Statement” means any registration statement (including,
without limitation, the Initial Registration Statement or the Follow-up Registration Statement) required to be filed hereunder
(which, at the Company’s option, may be an existing registration statement of the Company previously filed with the Commission,
but not declared effective), including (in each case) the Prospectus, amendments and supplements to the Registration Statement
or Prospectus, including pre- and post-effective amendments, all exhibits thereto, and all material incorporated by reference or
deemed to be incorporated by reference in the Registration Statement.

 

(j)
“Reporting Company” means a company that is obligated to file periodic reports under Sections 13
or 15(d) of the Securities Exchange Act.

 

(k) “Rule
144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from
time to time, or any similar rule or regulation hereafter adopted by the Commission that may at any time permit the Stockholder
to sell securities of the Company to the public without registration.

 

(l)
“Rule 415’’ means Rule 415 promulgated by the Commission pursuant to the Securities Act, as such Rule
may be amended from time to time, or any similar rule or regulation
hereafter adopted by the Commission having substantially the same effect as such Rule.

 

(m) “Rule 424’’ means Rule 424 promulgated by the Commission pursuant to the
Securities Act, as such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the Commission
having substantially the same effect as such Rule.

 

(n) “Securities
Act” means the Securities Act of 1933, as amended from time to time together with the regulations promulgated thereunder.

 

(o) “Securities Exchange Act” means the Securities Exchange Act of 1934, as
amended from time to time, together with the regulations promulgated thereunder.

 

    14

     

    

 

(p) “Underwriter
Cutbacks” means any reduction in the number of shares suggested by any managing underwriter to be included in a registration
under a Registration Statement based upon the guidance in this Section 13(p). In connection
with any offering involving an underwriting of shares of the Company’s capital stock, the Company shall not be required under Section
1 to include any of the Stockholders’ securities in such underwriting unless they accept the terms of the underwriting as agreed
upon between the Company and the underwriters, and then only in such quantity as the underwriters determine in their sole discretion
will not jeopardize the success of the offering by the Company. If the total amount of securities, including Registrable Securities,
requested by stockholders to be included in such offering exceeds the amount of securities to be sold other than by the Company
that the underwriters determine in their sole discretion is compatible with the success of the offering, then the Company shall
be required to include in the offering only that number of such securities, including Registrable Securities, which the underwriters
determine in their sole discretion will not jeopardize the success of the offering (the securities so included to be apportioned
pro rata among the selling shareholders according to the total amount of securities entitled to be included therein owned by each
selling shareholder or in such other proportions as shall mutually be agreed to by such selling shareholders); provided, that
any such cutback will be effected in accordance with the priorities established by Section 1(c); provided further that in no event
shall the amount of securities of the selling Stockholders included in the offering be reduced below 30% of the total amount of
securities included in such offering.

 

14. Market Stand-Off.
In connection with the Initial Public Offering of the Company’s securities,
if any, each Stockholder hereby agrees not to sell, make any short sale of, loan, grant any option for the purchase of, or otherwise
dispose of any securities of the Company however or whenever acquired (other than those included in the registration, if any)
without the prior written consent of the managing or lead underwriter of such offering, for a period of one hundred eighty (180)
days from the effective date of such registration (the “Restricted Period”),
and to the extent requested by the underwriter, each Stockholder shall, at the time of such offering, execute an agreement reflecting
these requirements binding on such Stockholder that are substantially consistent with this Section 14; provided, however, that
if during the last seventeen (17) days of the Restricted Period the Company issues an earnings release or material news or a material
event relating to the Company occurs, or prior to the expiration of the Restricted Period the Company announces that it will release
earnings results during the sixteen (16) day period beginning on the last day of the restricted period, then, upon the request
of the managing underwriter, to the extent required by any FINRA rules, the restrictions imposed by this Section 14 shall continue
to apply until the end of the third (3rd) trading day following the expiration of the fifteen (15) day period beginning on the
issuance of the earnings release or the occurrence of the material news or material event. In no event will the Restricted Period
extend beyond two hundred sixteen (216) days after the effective date of the registration statement. lo
order to enforce the restriction set forth above or any other restriction agreed by Stockholder, including without limitation
any restriction requested by the underwriters of any Initial Public Offering of the securities of the Company agreed by such Stockholder,
the Company may impose stop-transfer instructions with respect to any security acquired under or subject to this Agreement until
the end of the applicable stand-off period. The Company’s underwriters shall be third-party beneficiaries of
the agreement set forth in this Section 14. Each Stockholder agrees that prior to the Company’s Initial Public Offering
it will not transfer securities of the Company unless each transferee agrees in writing to be bound by all of the provisions of
this Section 14. provided that this Section 14 shall not apply to transfers pursuant to a Registration Statement.

 

Each Stockholder agrees that a legend reading substantially
as follows shall be placed on all certificates representing all Registrable Securities of each Stockholder issued before the Company’s
Initial Public Offering (and the shares or securities of every other person subject to the restriction contained in this Section
14):

 

THE SECURITIES REPRESENTED BY
THIS CERTIFICATE ARE SUBJECT TO A LOCK-UP PERIOD OF UP TO 180 DAYS AFTER THE EFFECTIVE DATE OF THE
ISSUER’S REGISTRATION STATEMENT FILED UNDER THE ACT, AS AMENDED, AS SET FORTH IN AN AGREEMENT
BETWEEN THE COMPANY AND THE ORIGINAL HOLDER OF THESE SECURITIES, A COPY OF
WHICH MAY BE OBTAINED AT THE ISSUER’S PRINCIPAL OFFICE. SUCH LOCK-UP PERIOD IS BINDING ON TRANSFEREES OF THESE SHARES.

 

    15

     

    

 

After the Company’s Initial Public Offering and expiration
of any lock-up period, upon request of any Stockholder who is a holder of record of the shares represented by any stock certificate(s)
bearing such legend and the surrender of such certificate(s) in connection with such request, the Company shall cause its
transfer agent to promptly issue replacement certificate(s) not bearing such legend representing the shares represented by such
surrendered stock certificate(s).

 

15.
Miscellaneous.

 

(a)
A Person is deemed to be a holder of Registrable Securities whenever such Person owns or is deemed to own of record such
Registrable Securities. If the Company receives conflicting instructions, notices or elections
from two or more Persons with respect to the same Registrable Securities, the Company shall act upon the basis of instructions,
notice or election received from such record owner of such Registrable Securities.

 

(b)
Any notices, consents, waivers or other communications required or permitted to be given under the terms of this Agreement must
be in writing and will be deemed to have been delivered: (i) upon receipt, when delivered personally; (ii) upon receipt, when sent
by facsimile (provided that for notices via facsimile, confirmation of transmission is mechanically or electronically generated
and kept on file by the sending party); or (iii) one business day after deposit with a nationally recognized overnight delivery
service, in each case properly addressed to the party to receive the same. The addresses, facsimile numbers addresses for such
communications shall be:

 

If to the Company:

 

Maestro Sensors Inc.

2227 Ashbourne Drive

San Ramon, CA 94583

Facsimile: 3 l 2-521-2898

Attention: Michael Leabman

 

with a copy (for informational purposes only) to:

 

Much Shelist, P.C.

191 N. Wacker Drive, Suite 1800

Chicago,IL 60606

Facsimile: (3 12) 521-2898

Attention: Greg Grove, Esq.

and

 

If to any Stockholder, at the address for such Stockholder
on the records of the Company, which may include the information on Schedule A hereto.

 

or to such other address and/or
facsimile number and/or to the attention of such other Person as the recipient party has specified by written notice given to each
other party five (5) days prior to the effectiveness of such change. Written confirmation of receipt (A) given by the recipient
of such notice, consent, waiver or other communication, (B) mechanically or electronically generated by the sender’s facsimile
machine containing the time, date, recipient facsimile number and an image of the first page of such transmission or (C) provided
by a courier or overnight courier service shall be rebuttable evidence of personal service, receipt by facsimile or receipt from
a nationally recognized overnight delivery service in accordance with clause (i), (ii) or (iii) above, respectively.

 

    16

     

    

 

(c)
Failure of any party to exercise any right or remedy under this Agreement or otherwise, or delay by a party in exercising
such right or remedy, shall not operate as a waiver thereof.

 

(d) All
questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by the internal
laws of the State of New York, without giving effect to any choice of law or conflict of law provision or rule (whether of the
State of New York or other jurisdictions) that would cause the application of the laws of any jurisdictions other than the State
of New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the
State of New York, for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated
hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim
that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is brought in an
inconvenient forum or that the venue of such suit, action or proceeding is improper. Each party hereby irrevocably waives personal
service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof to such
party at the address for such notices to it under this Agreement and agrees that such service shall constitute good and sufficient
service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process
in any manner permitted by law. If any provision of this Agreement shall be invalid or unenforceable in
any jurisdiction, such invalidity or unenforceability shall not affect the validity or enforceability of the remainder
of this Agreement in that jurisdiction or the validity or enforceability of any provision of this Agreement in any other jurisdiction.
EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION
OF ANY DISPUTE HEREUNDER OR IN CONNECTION HEREWITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

(e)
This Agreement and the instruments referenced herein and therein constitute the entire agreement among the parties hereto
with respect to the subject matter hereof and thereof. There are no restrictions, promises, warranties or undertakings, other than
those set forth or referred to herein and therein. This Agreement and the instruments referenced herein and therein supersede all
prior agreements and understandings among the parties hereto with respect to the subject matter hereof and thereof.

 

(f)
Subject to the requirements of Section 9, this Agreement shall inure to the benefit of and be binding upon the permitted
successors and assigns of each of the parties hereto.

 

(g)
The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning
hereof.

 

(h)
This Agreement may be executed in identical counterparts, each of which shall be deemed an original but all of which shall
constitute one and the same agreement. This Agreement, once executed by a party, may be delivered to the other party hereto by
facsimile transmission or other electronic transmission (such as but not limited to an email attachment in
PDF format) of a copy of this Agreement bearing the signature of the party so delivering this Agreement.
This Agreement may also be executed by electronic signature of such Person.

 

(i)
 Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall
execute and deliver all such other agreements, certificates, instruments and documents, as any other party may
reasonably request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the
transactions contemplated hereby.

 

    17

     

    

 

(j)  All consents and other determinations required to be made by the Stockholder pursuant to this Agreement shall be made, unless
otherwise specified in this Agreement, by the Stockholder.

 

(k) The language
used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent and no rules of
strict construction will be applied against any party.

 

(1) This Agreement
is intended for the benefit of, and shall be binding upon, the parties hereto and their respective successors and permitted assigns,
and is not for the benefit of, nor may any provision hereof be enforced by, any other Person.

 

(m) The
obligations of each Stockholder hereunder are several and not joint with the obligations of any other Stockholder, and no provision
of this Agreement is intended to confer any obligations on a Stockholder vis-à-vis any other Stockholder. Nothing contained herein,
and no action taken by any Stockholder pursuant hereto, shall be deemed to constitute the Stockholder as a partnership, an association,
a joint venture or any other kind of entity, or create a presumption that the Stockholder are in any way acting in concert or
as a group with respect to such obligations or the transactions contemplated herein.

 

(n)  Currency.
As used herein, “Dollar”, “US Dollar” and “$” each mean the lawful money of the United States.

 

[Signature pages follow immediately]

 

    18

     

    

 

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

 

	 	COMPANY:
	 	 
	 	MAESTRO SENSORS INC.
	 	 
	 	Michael Leabman,
	 	Chief Executive Officer

 

[Stockholder Signature Page Follows)Exhibit
10.10

 

CONSENT
AND AMENDMENT AGREEMENT

 

This
CONSENT AND AMENDMENT AGREEMENT (this “Agreement”), dated as of [                  ],
2019, is by and among Movano Inc. (f/k/a Maestro Sensors Inc.), a Delaware corporation (the “Company”), and
the other Persons party hereto. Capitalized terms used, but not defined, herein shall have the same meaning ascribed to such terms
in the Series A Purchase Agreement (as defined below).

 

RECITALS

 

A.
On March 14, 2018, the Company entered into a Securities Purchase Agreement (the “Series A Purchase Agreement”)
and, in connection therewith, the Company issued an aggregate of 2,692,253 shares of Series A Preferred Stock (the “Series
A Preferred”) and entered into a Registration Rights Agreement with the holders of the Series A Preferred (the “Existing
Holders”).

 

B.
On or about the date hereof, the Company proposes to enter into a securities purchase agreement (the “Series B Purchase
Agreement”) on terms substantially similar to the Series A Purchase Agreement and, in connection therewith, issue up
to an aggregate of 5,238,095 shares of Series B Preferred Stock (the “Series B Preferred Stock”). In addition,
the Company proposes to amend and restate the Registration Rights Agreement and the Company’s Certificate of Incorporation
(the “Charter”).

 

C. This
Agreement, including the amended and restated Registration Rights Agreement and the filing of the amended and restated Charter,
is a condition precedent to the issuance of the Series B Preferred Stock and the consummation of the transactions contemplated
thereby (the “Series B Offering”).

 

D. The undersigned constitute at least a majority of the Series A Preferred Stock currently outstanding and, as such, have the authority
to act on behalf of the Existing Holders pursuant to the Series A Purchase Agreement, the Charter and the Registration Rights
Agreement.

 

E.
The Existing Holders wish to (i) consent to the issuance of the Series B Preferred Stock, (ii) amend and restate the
Registration Rights Agreement, (iii) consent to the amended and restated Charter and (iv) make certain amendments to and
waive certain provisions of the Series A Securities Purchase Agreement.

 

AGREEMENT

 

NOW,
THEREFORE, in consideration of the premises and the mutual covenants contained herein and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows:

 

1.
Consent to Issuance of Series B Preferred Stock.

 

(a) The
Existing Holders hereby consent to the issuance of the Series B Preferred Stock and waive any breach or default such issuance
may cause under the Securities Purchase Agreement, including, but not limited to, under Section 4(j) of the Series A Purchase
Agreement and Article FOURTH, Part B, Section 17(a) of the Charter.

 

     

     

    

 

(b) The Existing Holders hereby consent to the filing of the Amended and Restated Charter substantially in the form attached hereto
as Exhibit A, including the designation of the Series B Preferred Stock.

 

(c) The Existing Holders hereby waive the provisions of Article FOURTH, Part B, Section 8(b) of the Charter in connection with respect
to the approval of the Series B Offering.

 

 2. Amendments to the Series A Purchase Agreement.

 

(a) IPO Commitment. The date “March 31, 2019” as set forth in Section 4(v) of the Series A Purchase Agreement shall
be removed and replaced with the date “December 31, 2019” and the date “March 31, 2020” as set forth in
Section 4(v) of the Series A Purchase Agreement shall be removed and replaced with the date “December 31, 2020”.

 

(b) Board of Directors; Size. Each reference to the “Initial Closing Date” in sentences three, four and five of
Section 4(p) of the Series A Purchase Agreement shall be replaced with the Initial Closing Date as defined in the Series B Purchase
Agreement.

 

3.
Charter.

 

(a) The Existing Holders hereby acknowledge and agree that the amended and restated Charter provides, among other things, for a fixed
conversion price for the Series A Preferred Stock equal to $1.40 per share.

 

4.
Registration Rights Agreement.

 

(a) The Existing Holders hereby acknowledge and agree that the term “Registrable Securities” as used in the Registration
Rights Agreement shall for all purposes include the shares of common stock issued upon conversion of the Series B Preferred Stock.

 

(b) The
Existing Holders hereby acknowledge and agree that for purposes of exercising and implementing the Piggyback
Registration Rights granted under Section 1  of the Registration Rights Agreement, the terms “Holder” and
“Holders” shall also include the holders of the Series B Preferred Stock and their assignees or successors in
interest.

 

(c) The Existing Holders hereby acknowledge and agree that for purposes of exercising and implementing the Demand Registration Rights
granted under Section 2 of the Registration Rights Agreement, the terms “Holder” and “Holders” shall also
include the holders of the Series B Preferred Stock and their assignees or successors in interest.

 

(d) The Existing Holders hereby agree to the form of amended and restated Registration Rights Agreement, in the form presented to
them, for purposes of carrying out the terms of(a) through (c) above and otherwise making the holders of the Series B Preferred
Stock parties to the Registration Rights Agreement, as amended and restated, and that the execution and delivery of this Agreement
by each Existing Holder shall constitute their execution and delivery of the amended and restated Registration Rights Agreement
without their need to separately sign the amended and restated Registration Rights Agreement.

 

    2

     

    

 

5.
Miscellaneous.

 

(a) Governing
Law; Jurisdiction; Jury Trial. All questions concerning the construction, validity, enforcement and interpretation of this
Agreement shall be governed by the internal laws of the State of New York, without giving effect to any choice of law or conflict
of law provision or rule (whether of the State of New York or any other jurisdictions) that would cause the application of the
laws of any jurisdictions other than the State of New York. Each party hereby irrevocably submits to the exclusive jurisdiction
of the state and federal courts sitting in The City of New York, Borough of Manhattan, for the adjudication of any dispute hereunder
or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and
agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any
such court, that such suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or
proceeding is improper. Each party hereby irrevocably waives personal service of process and consents to process being served
in any such suit, action or proceeding by mailing a copy thereof to such party at the address for such notices to it under this
Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained
herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. EACH PARTY HEREBY IRREVOCABLY
WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION
WITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

(b) Severability. If any provision(s) of this Agreement shall be determined to be illegal or unenforceable, such determination
shall in no manner affect the legality or enforceability of any other provision hereof, and any such illegal or unenforceable
provisions shall be performed by mutual consent of the parties to reflect the intended purpose of such provision.

 

(c) Notices. Any notices, consents, waivers or other communications required or permitted to be given under the terms of this
Agreement must be in writing and will be deemed to have been delivered: (i) upon receipt, if delivered personally; (ii) when sent,
if sent by facsimile (provided confirmation of transmission is mechanically or electronically generated and kept on file by the
sending party); (iii) when sent, if sent by e-mail (provided that such sent e-mail is kept on file (whether electronically or
otherwise) by the sending party and the sending party does not receive an automatically generated message from the recipient’s
e-mail server that such e-mail could not be delivered to such recipient) and (iv) if sent by overnight courier service, one (1) Business Day after deposit with an overnight courier service with next day delivery specified, in each case, properly addressed
to the party to receive the same. The addresses, facsimile numbers and e-mail addresses for such communications shall be:

 

    3

     

    

 

If
to the Company:

 

Movano
Inc.

3613
Pontina Court

Pleansanton,
CA 95466

 Facsimile: 312-521-2898

 Attention: Michael Leabman

 

with
a copy (for informational purposes only) to:

 

Much
Shelist, P.C.

191 N.
Wacker Drive, Suite 1800

Chicago,
IL 60606

 Facsimile: (312) 521-2898

 Attention: Greg Grove

 

If
to an Existing Holder, to its address, facsimile number or e-mail address set forth on such Existing Holder’s signature
page to the Series A Purchase Agreement,

 

and with a copy (for informational purposes only) to:

 

Greenberg
Traurig, LLP

3161
Michelson Drive, Suite 1000

Irvine,
CA 92612

 Facsimile: (949) 732-6501

 Attention: Daniel K. Donahue, Esq.

 

or
to such other address, facsimile number or e-mail address and/or to the attention of such other Person as the recipient party
has specified by written notice given to each other party five (5) days prior to the effectiveness of such change. Written confirmation
of receipt (A) given by the recipient of such notice, consent, waiver or other communication, (B) mechanically or electronically
generated by the sender’s facsimile machine containing the time, date and recipient facsimile number or (C) provided by
an overnight courier service shall be rebuttable evidence of personal service, receipt by facsimile or receipt from an overnight
courier service in accordance with clause (i), (ii) or (iv) above, respectively. A copy of the e-mail transmission containing
the time, date and recipient e-mail address shall be rebuttable evidence of receipt by e-mail in accordance with clause (iii)
above.

 

(d) Binding Effect. This Agreement shall be binding upon and shall insure to the benefit of the parties hereto, their respective
successors, assigns, legal representative, estates, executors, administrators and heirs.

 

(e) Counterparts. This Agreement may be executed in two or more identical counterparts, all of which shall be considered one
and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other
party. In the event that any signature is delivered by facsimile transmission or by an e-mail which contains a portable document
format (.pdf) file of an executed signature page, such signature page shall create a valid and binding obligation of the party
executing (or on whose behalf such signature is executed) with the same force and effect as if such signature page were an original
thereof.

 

[Signature
Pages Follow]

 

    4

     

    

 

IN
WITNESS WHEREOF, the undersigned have caused their respective signature page to this Agreement to be duly executed as of the
date first written above.

 

	 	COMPANY:
	 	 	 
	 	MOVANO
    INC,
	 	a Delaware
    corporation
	 	 	 
	 	By:	 
	 	 	Michael Leabman,
	 	 	Chief Executive Officer

 

[Signature
Page to Consent and Amendment Agreement]

 

    5

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