Document:

Exhibit
10.8

 

Cyxtera
Cybersecurity, Inc. d/b/a Appgate

REGISTRATION RIGHTS AGREEMENT

 

THIS
REGISTRATION RIGHTS AGREEMENT (this “Agreement”), is made as of February 8, 2021, by and among Cyxtera Cybersecurity,
Inc. d/b/a Appgate, a Delaware corporation (including, without limitation, any Acquiring Person (as defined below) that may hold 100%
of the equity interests of the Company or any successor thereto, the “Company”), and each of the investors listed
on Schedule A hereto, each of which is referred to in this Agreement as an “Investor”.

 

RECITAL

 

WHEREAS,
concurrently with the execution of this Agreement, the Company and the Investors are entering into a Note Purchase Agreement, dated as
of February 8, 2021 (the “Purchase Agreement”);

 

WHEREAS,
the Purchase Agreement provides for the execution of this Agreement concurrently with the Initial Closing in order to provide to the
Investors certain registration rights for the Common Stock (as defined below) issuable upon conversion of the Notes (as defined below);

 

WHEREAS,
the Company and the Investors hereby agree that this Agreement shall govern the registration rights for the Common Stock issuable upon
conversion of the Notes;

 

WHEREAS,
the Company and the Investors acknowledge and agree that the Company may not be the listed entity in any Public Company Event (as defined
below). All of the provisions of this Agreement shall apply mutatis mutandis with respect to the entity whose Common Stock becomes
publicly traded or listed; provided that, for the avoidance of doubt, the provisions of this Agreement will apply to the Acquiring Person
if the Public Company Event is a Reverse Merger; and

 

WHEREAS,
capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the Purchase Agreement or in the Note
Issuance Agreement, dated as of February 8, 2021, by and between the Company, as issuer, Magnetar Financial LLC, as representative of
the holder of the Notes (the “Note Issuance Agreement”), as applicable.

 

AGREEMENT

 

NOW,
THEREFORE, the parties hereby agree as follows:

 

1.
Definitions. For purposes of this Agreement:

 

1.1
“Acquiring Person” shall have the meaning set forth in the Note Issuance Agreement.

 

1.2
“Affiliate” means, with respect to any specified Person, any other Person who, directly or indirectly, controls,
is controlled by, or is under common control with such Person, including without limitation any general partner, managing member, officer,
director or trustee of such Person, or any venture capital fund or registered investment company now or hereafter existing that is controlled
by one or more general partners, managing members or investment adviser of, or shares the same management company or investment adviser
with, such Person. With respect to the Holders, the term “Affiliate” shall include any funds managed by Magnetar Financial
LLC or by other Affiliates of Magnetar Financial LLC. Notwithstanding anything to the contrary herein, none of Cyxtera Technologies,
Inc. or any of its direct or indirect Subsidiaries shall be deemed an “Affiliate”.

 

     

     

    

 

1.3
“Automatic Shelf Registration Statement” means an “automatic shelf
registration statement” as defined in Rule 405 promulgated under the Securities Act.

 

1.4
“Board of Directors” means the board of directors of the Company.

 

1.5
“Common Stock” shall have the meaning set forth in the Note Issuance Agreement.

 

1.6
“Damages” means any loss, damage, claim, expense (including documented legal or other expenses reasonably incurred
in connection with investigating, preparing, defending or enforcing any claim, proceeding or right to indemnification hereunder) and
liability of any kind that arises out of or is based upon: (i) any untrue statement or alleged untrue statement of a material fact contained
in any registration statement of the Company, including any preliminary prospectus or final prospectus contained therein or any amendments
or supplements thereto, or in the Disclosure Package or any preliminary, final or summary prospectus or Free Writing Prospectus included
in any such registration statement or any amendment or supplement thereto; (ii) an omission or alleged omission to state therein a material
fact required to be stated therein, or necessary to make the statements therein not misleading; or (iii) any violation or alleged violation
by the indemnifying party (or any of its agents or Affiliates) of the Securities Act, the Exchange Act, any other federal, state or foreign
securities law, or any rule or regulation promulgated under the Securities Act, the Exchange Act, or any other federal, state or foreign
securities law.

 

1.7
“Disclosure Package” means, with respect to any offering of securities, (i) the preliminary prospectus, (ii) the
price to the public and the number of securities included in the offering; (iii) each Free Writing Prospectus and (iv) all other information
that is deemed, under Rule 159 promulgated under the Securities Act, to have been conveyed to purchasers of securities at the time of
sale of such securities (including a contract of sale).

 

1.8
“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated
thereunder.

 

1.9
“Excluded Registration” means (i) a registration relating to the sale or grant of securities to employees of the
Company or a subsidiary pursuant to a stock option, stock purchase, equity incentive or similar plan; (ii) a registration relating to
an SEC Rule 145 transaction (including, without limitation, any registration statement on Form S-4); (iii) a registration on any
form that does not include substantially the same information as would be required to be included in a registration statement covering
the sale of the Registrable Securities; or (iv) a registration in which the only Common Stock being registered is Common Stock issuable
upon conversion of debt securities that are also being registered.

 

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1.10
“Form S-1” means such form under the Securities Act as in effect on the date hereof or any successor registration
form under the Securities Act subsequently adopted by the SEC.

 

1.11
“Form S-3” means such form under the Securities Act as in effect on the date hereof or any registration form under
the Securities Act subsequently adopted by the SEC that permits forward incorporation of substantial information by reference to other
documents filed by the Company with the SEC.

 

1.12
“Free Writing Prospectus” means any “free writing prospectus” as defined in Rule 405 promulgated under
the Securities Act.

 

1.13
“Holder” means any holder of Registrable Securities who is a party to this Agreement.

 

1.14
“Immediate Family Member” means a child, stepchild, grandchild, parent, stepparent, grandparent, spouse, sibling,
mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, including, adoptive relationships, of a
natural person referred to herein.

 

1.15
“Initial Closing” shall have meaning set forth in the Note Purchase Agreement.

 

1.16
“Initiating Holders” means, collectively, Holders who properly initiate a registration or shelf takedown request,
as applicable, under this Agreement.

 

1.17
“Notes” shall have the meaning set forth in the Note Issuance Agreement.

 

1.18
“Person” means any individual, corporation, partnership, trust, limited liability company, association or other
entity.

 

1.19
“Public Company Event” shall have the meaning set forth in the Note Issuance Agreement.

 

1.20
“Registrable Securities” means (i) the Common Stock issued upon conversion of the Notes and (ii) any Common Stock
issued as a dividend or other distribution with respect to, or in exchange for or in replacement of, the shares referenced in clause
(i); provided, however, that any Registrable Securities shall cease to be Registrable Securities: (A) if sold by a Person in a transaction
in which the applicable rights under this Agreement are not assigned pursuant to Section 3.1; or (B) when (a) a Registration Statement
covering such Registrable Securities has been declared effective and such Registrable Securities have been disposed of pursuant to such
Registration Statement, (b) such Registrable Securities may be sold without manner of sale, volume, current public information or other
restriction pursuant to SEC Rule 144 or (c) such Registrable Securities cease to be outstanding.

 

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1.21
“Reverse Merger” shall have the meaning set forth in the Note Issuance Agreement.

 

1.22
“SEC” means the U.S. Securities and Exchange Commission.

 

1.23
“SEC Rule 144” means Rule 144 promulgated by the SEC under the Securities Act.

 

1.24
“SEC Rule 145” means Rule 145 promulgated by the SEC under the Securities Act.

 

1.25
“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

1.26
“Selling Expenses” means all underwriting discounts, selling commissions, and stock transfer taxes applicable
to the sale of Registrable Securities, and fees and disbursements of counsel for any Holder.

 

1.27
“Shelf Registration” means a registration of securities pursuant to a registration statement filed with the SEC
in accordance with and pursuant to Rule 415 promulgated under the Securities Act (or any successor rule then in effect).

 

1.28
“Well-Known Seasoned Issuer” means a “well-known seasoned issuer” as defined in Rule 405 promulgated
under the Securities Act and which (i) is a “well-known seasoned issuer” under paragraph (1)(i)(A) of such definition
or (ii) is a “well-known seasoned issuer” under paragraph (1)(i)(B) of such definition and is also eligible to register
a primary offering of its securities relying on General Instruction I.B.1 of Form S-3 or Form F-3 under the Securities Act.

 

2.
Registration Rights. the Company covenants and agrees as follows:

 

2.1
Demand Registration; Shelf Registrations.

 

(a)
Automatic Demand. If the Company consummates a Public Company Event, the Company covenants and agrees to file a registration
statement for a Shelf Registration registering the resale of the Registrable Securities on a delayed or continuous basis, on Form S-1
(the “Initial Registration Statement” and together with any Subsequent Shelf Registration (as defined below), the
“Shelf”), if any, no later than ninety (90) days after the closing of the Public Company Event and use its commercially
reasonable efforts to have the Initial Registration Statement declared effective as soon as practicable after the filing thereof, but
no later than one hundred fifty (150) days following the closing of the Public Company Event (or two hundred ten (210) days if the SEC
notifies the Acquiring Person or the Company, as applicable, that it will “review” the Initial Registration Statement). The
Shelf shall provide for the resale of Registrable Securities from time to time, and pursuant to any method or combination of methods
legally available to, and requested by, the Holders. The Company shall maintain the Shelf in accordance with the terms hereof, and shall
prepare and file with the SEC such amendments, including post-effective amendments, and supplements as may be necessary to keep such
Shelf effective and in compliance with the provisions of the Securities Act. In the event the Company files a Shelf on Form S-1, the
Company shall use its reasonable best efforts to convert such Shelf (and any Subsequent Shelf Registration) to a Shelf on Form S-3 as
soon as practicable after the Company is eligible to use Form S-3.

 

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(b)
Subsequent Shelf Registration. If any Shelf ceases to be effective under the Securities Act for any reason, the Company shall
use its commercially reasonable efforts to, as promptly as is reasonably practicable, cause such Shelf to again become effective under
the Securities Act (including obtaining the prompt withdrawal of any order suspending the effectiveness of such Shelf), and shall use
its commercially reasonable efforts to, as promptly as is reasonably practicable, amend such Shelf in a manner reasonably expected to
result in the withdrawal of any order suspending the effectiveness of such Shelf or file an additional registration statement as a Shelf
Registration (a “Subsequent Shelf Registration”) registering the resale from time to time by the Holders thereof of
all securities that are Registrable Securities as of the time of such filing. If a Subsequent Shelf Registration is filed, the Company
shall use its commercially reasonable efforts to (i) cause such Subsequent Shelf Registration to become effective under the Securities
Act as promptly as is reasonably practicable after the filing thereof (it being agreed that the Subsequent Shelf Registration shall be
an Automatic Shelf Registration Statement if the Company is a Well-Known Seasoned Issuer) and (ii) keep such Subsequent Shelf Registration
continuously effective. Any such Subsequent Shelf Registration shall be on Form S-3 to the extent that the Company is eligible to use
such form. Otherwise, such Subsequent Shelf Registration shall be on another appropriate form and shall provide for the registration
of such Registrable Securities for resale by the Holders in accordance with any reasonable method of distribution elected by a majority
in interest of the Holders.

 

(c)
Shelf Takedown. At any time and from time to time after (i) the effective date of the Shelf and (ii) the Company is eligible
to use Form S-3, Holders may request to sell in an underwritten offering that is registered pursuant to the Shelf (a “Shelf
Takedown”) all or a portion of their Registrable Securities (1) having an anticipated aggregate offering price, net of
Selling Expenses, in excess of $50,000,000 or (2) constituting the total aggregate Registrable Securities then held by all Holders. Upon
the Company’s receipt of any such request, the Company shall (x) within three (3) days after the date such request is given, give
notice thereof (a “Shelf Takedown Demand Notice”) to all Holders other than the Initiating Holders, if applicable,
and any other holders of equivalent securities that the Company is obligated to register pursuant to written contractual arrangements
with such persons (the “Other Holders”); and (y) as soon as practicable, include in such underwritten Shelf Takedown
all Registrable Securities that the Initiating Holders requested to be registered and any additional Registrable Securities or equivalent
securities requested to be included in such registration by any other Holders or Other Holders, as specified by notice given by each
such Holder or Other Holder to the Company within ten (10) days after the Company sends the Shelf Takedown Demand Notice, and in each
case, subject to the limitations of Section 2.1(f). In connection with any Shelf Takedown, the Company shall not effect any
public sale or distribution of its equity securities or any securities convertible into or exchangeable or exercisable for such securities
(except pursuant to registrations on Form S-8 or Form S-4 under the Securities Act), during the seven (7) days prior to and the sixty
(60) day period beginning on the date of pricing of such Shelf Takedown or such other period provided in the underwriting, placement
or similar agreement executed in connection with such Shelf Takedown, provided that any such sixty (60) day or other period shall be
able to be waived by the applicable underwriter or placement agent. The Company shall not be obligated to effect, or to take any action
to effect, any Shelf Takedown pursuant to this Section 2.1(c) after the Company has effected two (2) Shelf Takedowns pursuant
to this Section 2.1(c); provided that in no event shall the Company be obligated to effect more than one (1) Shelf Takedown in
any twelve (12) month period. A Shelf Takedown is not be counted as “effected” for purposes of this Section 2.1(c)
until such time as the applicable prospectus supplement has been filed with the SEC, unless the Initiating Holders withdraw their request
for such Shelf Takedown and forfeit their right to one Shelf Takedown, in which case such Shelf Takedown shall be counted as “effected”
for purposes of this Section 2.1(c); provided, that if such withdrawal is during a period the Company has deferred taking
action pursuant to Section 2.1(f), then the Initiating Holders may withdraw their request for a Shelf Takedown and such Shelf
Takedown will not be counted as “effected” for purposes of this Section 2.1(c).

 

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(d)
Form S-1 Demand. If at any time after the date that is one hundred and eighty (180) days after the effective date of the registration
statement mentioned in Section 2.1(a) and (b), the Company receives a request from Holders that the Company file a Form
S-1 registration statement with respect to Registrable Securities the resale of which is not registered on the Shelf (1) having an anticipated
aggregate offering price, net of Selling Expenses, in excess of $50,000,000 or (2) constituting the total aggregate Registrable Securities
then held by all Holders, then the Company shall (x) within ten (10) days after the date such request is given, give notice thereof (the
“Demand Notice”) to all Holders other than the Initiating Holders, if applicable, and any Other Holders; and (y) as
soon as practicable, and in any event within sixty (60) days after the date such request is given by the Initiating Holders, file a Form
S-1 registration statement under the Securities Act covering all Registrable Securities that the Initiating Holders requested to be registered
and any additional Registrable Securities or equivalent securities requested to be included in such registration by any other Holders
or Other Holders, as specified by notice given by each such Holder or Other Holder to the Company within twenty (20) days of the date
the Demand Notice is given, and in each case, subject to the applicable limitations of Sections 2.1(f) and 2.3; provided
that the Company may use a Form S-3 registration statement instead of a Form S-1 registration statement pursuant to this Section 2.1(d)
if the Company would qualify to use a Form S-3 registration statement within sixty (60) days after the date on which the request
from Holders is received.

 

(e)
Form S-3 Demand. If at any time when it is eligible to use a Form S-3 registration statement, the Company receives a request
from Holders of Registrable Securities that the Company file a Form S-3 registration statement with respect to outstanding Registrable
Securities of such Holders having an anticipated aggregate offering price, net of Selling Expenses, of at least $50,000,000, then the
Company shall (i) within ten (10) days after the date such request is given, give a Demand Notice to all Holders other than the Initiating
Holders, if applicable, and any Other Holders; and (ii) as soon as practicable, and in any event within forty-five (45) days after the
date such request is given by the Initiating Holders, file a Form S-3 registration statement under the Securities Act covering all Registrable
Securities or equivalent securities requested to be included in such registration by any other Holders or Other Holders, as specified
by notice given by each such Holder or Other Holder to the Company within twenty (20) days of the date the Demand Notice is given, and
in each case, subject to the applicable limitations of Sections 2.1(f) and 2.3.

 

(f)
Notwithstanding the foregoing obligations, if the Company furnishes to Holders requesting or provided a registration pursuant to
this Section 2.1 a certificate signed by the Company’s chief executive officer or chairman of the board stating that in
the good faith judgment of the Board of Directors it would be materially detrimental to the Company and its stockholders for such registration
statement to either become effective or remain effective for as long as such registration statement otherwise would be required to remain
effective, because such action would (i) materially interfere with a significant acquisition, corporate reorganization, or other
similar transaction involving the Company; (ii) require premature disclosure of non-public material information that the Company has
a bona fide business purpose for preserving as confidential; or (iii) be prohibited under, or otherwise render the Company unable to
comply with requirements under, the Securities Act or Exchange Act, then the Company shall have the right to defer taking action with
respect to such filing, and any time periods (and any associated liquidated damages, if any) with respect to filing or effectiveness
thereof shall be tolled correspondingly, for a period of not more than ninety (90) days after the request of the Initiating Holders is
given; provided, however, that the Company may not invoke this right more than twice in any twelve (12) month period; and
provided further that the Company shall not register any securities for its own account or that of any other stockholder during
such period other than an Excluded Registration.

 

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(g)
The Company shall not be obligated to effect, or to take any action to effect, any registration pursuant to Section 2.1(d):
(i) during the period that is sixty (60) days before the Company’s good faith estimate of the date of filing of, and ending
on a date that is one hundred eighty (180) days after the effective date of, a Company-initiated registration, provided that the
Company is actively employing in good faith commercially reasonable efforts to cause such registration statement to become effective;
(ii) after the Company has effected, in the aggregate, one (1) registration pursuant to Section 2.1(d); or (iii) if the Initiating
Holders propose to dispose of shares of Registrable Securities that may be immediately registered on Form S-3 pursuant to a request made
pursuant to Section 2.1(e). The Company shall not be obligated to effect, or to take any action to effect, any registration pursuant
to Section 2.1(e): (i) during the period that is thirty (30) days before the Company’s good faith estimate of the date
of filing of, and ending on a date that is ninety (90) days after the effective date of, a Company-initiated registration, provided that
the Company is actively employing in good faith commercially reasonable efforts to cause such registration statement to become effective;
or (ii) if the Company has effected two (2) registrations pursuant to Section 2.1(e) within the twelve (12) month period immediately
preceding the date of such request. A registration shall not be counted as “effected” for purposes of this Section 2.1(g)
until such time as the applicable registration statement has been declared effective by the SEC, unless the Initiating Holders withdraw
their request for such registration and forfeit their right to one demand registration statement pursuant to Section 2.1, in which
case such withdrawn registration statement shall be counted as “effected” for purposes of this Section 2.1(g); provided,
that if such withdrawal is during a period the Company has deferred taking action pursuant to Section 2.1(f), then the Initiating
Holders may withdraw their request for registration and such registration will not be counted as “effected” for purposes
of this Section 2.1(g).

 

(h)
Liquidated Damages. For each 30-day delay in the filing or initial effectiveness of the Initial Registration Statement pursuant
to Section 2.1(a) and, until such time as the Shelf on Form S-3 becomes effective, for each 15 consecutive calendar day period
the Initial Registration Statement ceases to be effective or is otherwise unavailable for use after it is declared initially effective
(any such failure set forth above, an “Event” and the date on which such Event occurs, the “Event Date”),
in each case, subject to the applicable limitations of Section 2.1(f) and 2.3, in addition to any other rights the
Holders may have hereunder or under applicable law, the Company shall pay to the Holders on each Event Date and each monthly anniversary
of each such Event Date (if the applicable Event shall not have been cured by such date) an amount in cash, as partial liquidated damages
and not as a penalty, equal to the product of 0.25% multiplied by the principal amount of the Note (the “Monthly Liquidated
Damage Amount”); provided, however, that the aggregate Monthly Liquidated Damage Amount for any delay beyond
four months will be capped at the product of 1.0% multiplied by the principal amount of the Note. The liquidated damages pursuant to
the terms hereof shall apply on a daily pro rata basis for any portion of a month prior to the cure.

 

2.2
Company Registration. If the Company proposes to register (including, for this purpose, a registration effected by the Company
for stockholders other than the Holders, including pursuant to any Other Registration Rights Agreement (as defined below)) any of its
securities under the Securities Act or consummate an underwritten offering pursuant to a previously filed registration statement (in
each case other than in an Excluded Registration), the Company shall, at such time, promptly give each Holder notice of such registration
or underwritten offering. Upon the request of each Holder given within twenty (20) days after such notice is given by the Company, the
Company shall, subject to the provisions of Section 2.3, cause to be registered all of the Registrable Securities that each such
Holder has requested to be included in such registration and/or use its commercially reasonable efforts to include all of the Registrable
Securities that each such Holder has requested to be included in such registration or underwritten offering. If the registration referred
to in this Section 2.2 is proposed to be underwritten or the Company proposes to consummate an underwritten offering pursuant
to a previously filed registration statement (in each case other than in an Excluded Registration), the Company will so advise the Holders
as a part of the written notice given pursuant to this Section 2.2 and the terms of Section 2.3 shall apply to such underwritten
offering. The Company shall have the right to terminate or withdraw any registration or underwritten offering initiated by it under this
Section 2.2 before the effective date of such registration or offering, as applicable, whether or not any Holder has elected to
include Registrable Securities in such registration or underwritten offering. The expenses (other than Selling Expenses) of such withdrawn
registration shall be borne by the Company in accordance with Section 2.6. No withdrawn registration shall count as one of the
permitted Demand Registrations granted to the Holders under this Agreement. If the Company proposes to register (including, for this
purpose, a registration effected by the Company for stockholders other than the Holders) any of its securities under the Securities Act
pursuant to an Excluded Registration, the Company shall not be required to include any of the Holders’ Registrable Securities in
such offering.

 

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2.3
Underwriting Requirements.

 

(a)
If, pursuant to Section 2.1, the Initiating Holders intend to distribute the Registrable Securities covered by a registration
statement by means of an underwriting, they shall either in the case of (i) an underwriting under a registration statement filed pursuant
to Section 2.1(d) or 2.1(e) or (ii) an underwritten Shelf Takedown, so advise the Company as a part of their request made
pursuant to Section 2.1, and the Company shall include such information in the Demand Notice or Shelf Takedown Demand Notice,
as applicable. The underwriter(s) will be selected by the Company, subject to the approval of a majority in interest of the Initiating
Holders (not to be unreasonably, withheld, conditioned or delayed). In such event, the right of any Holder or any other Requesting Holder
(as defined below) to include such Holder’s Registrable Securities and the Requesting Holder’s securities in such registration
shall be conditioned upon such Holder’s and Requesting Holder’s, if applicable, participation in such underwriting and the
inclusion of such Holder’s Registrable Securities and the Requesting Holder’s securities, if applicable, in the underwriting
to the extent provided herein. All Holders and Requesting Holders proposing to distribute their securities through such underwriting
shall (together with the Company as provided in Section 2.4(f)) enter into an underwriting agreement in customary form with the
underwriter(s) selected for such underwriting. Notwithstanding any other provision of this Section 2.3, if the managing underwriter(s)
advise(s) the Initiating Holders in writing that marketing factors require a limitation on the number of shares to be underwritten, then
the Initiating Holders shall so advise all Holders of Registrable Securities, including all Requesting Holders, if applicable, that otherwise
would be underwritten pursuant hereto, and the number of securities that may be included in the underwriting shall be allocated among
such Holders of Registrable Securities, including the Initiating Holders, and such other holders of shares of Common Stock that the Company
is obligated to register pursuant to written contractual arrangements with such persons (the “Other Registration Rights Agreements”
and any such requesting holders thereunder, the “Requesting Holders”), pro rata in accordance with the number of shares
that each such Person has requested be included in such registration, regardless of the number of shares held by each such Person (such
proportion is referred to herein as “Pro Rata”), or in such other proportions as shall mutually be agreed to by all
such owners of Common Stock under this Agreement and the Other Registration Rights Agreements; provided, however, that the number of
Registrable Securities held by the Holders or equivalent securities held by the Requesting Holders, if applicable, to be included in
such underwriting shall not be reduced unless all other securities are first entirely excluded from the underwriting. To facilitate the
allocation of shares in accordance with the above provisions, the Company or the underwriters may round the number of shares allocated
to any Holder or Requesting Holder to the nearest one hundred (100) shares.

 

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(b)
In connection with any offering involving an underwriting of shares of the Company’s capital stock pursuant to Section 2.2,
the Company shall not be required to include any of the Holders’ Registrable Securities in such underwriting unless the Holders
accept the terms of the underwriting as agreed upon between the Company and its underwriters, and then only in such quantity as the underwriters
in their sole discretion determine will not jeopardize the success of the offering by the Company. If the total number of securities,
including Registrable Securities, requested by Holders to be included in such offering exceeds the number of securities to be sold (other
than by the Company) that the underwriters in their reasonable discretion determine 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 and the Company in their sole discretion determine will not jeopardize the success of the offering. If the underwriters
determine that less than all of the securities, including Registrable Securities, requested to be registered can be included in such
offering, then the securities that are included in such offering shall be allocated among the selling Holders and the Requesting Holders,
Pro Rata, or in such other proportions as shall mutually be agreed to by all such owners of Common Stock under this Agreement and the
Other Registration Rights Agreements. To facilitate the allocation of shares in accordance with the above provisions, the Company or
the underwriters may round the number of shares allocated to any Holder or Requesting Holder to the nearest one hundred (100) shares.
Notwithstanding the foregoing, in no event shall (i) the number of Registrable Securities under this Agreement or the equivalent under
the Other Registration Rights Agreements included in the offering be reduced unless all other securities (other than securities to be
sold by the Company) are first entirely excluded from the offering, or (ii) the number of Registrable Securities under this Agreement
or the equivalent under the Other Registration Rights Agreements, if applicable, included in the offering be reduced below thirty percent
(30%) of the total number of securities included in such offering, unless such offering is a Public Company Event, in which case the
selling Holders under this Agreement or the equivalent under the Other Registration Rights Agreements may be excluded further if the
underwriters make the determination described above and no other stockholder’s securities are included in such offering. For purposes
of the provision in this Section 2.3(b) concerning apportionment, for any selling Holder (under this Agreement or the equivalent
under the Other Registration Rights Agreements) that is a partnership, limited liability company, or corporation, the partners, members,
retired partners, retired members, stockholders, and Affiliates of such Holder (under this Agreement or the equivalent under the Other
Registration Rights Agreements), or the estates and Immediate Family Members of any such partners, retired partners, members, and retired
members and any trusts for the benefit of any of the foregoing Persons, shall be deemed to be a single “selling Holder,”
and any pro rata reduction with respect to such “selling Holder” shall be based upon the aggregate number of Registrable
Securities (under this Agreement or the equivalent under the Other Registration Rights Agreements) owned by all Persons included in such
“selling Holder,” as defined in this sentence.

 

(c)
For purposes of Section 2.1, a registration shall not be counted as “effected” if, as a result of an exercise
of the underwriter’s cutback provisions in Section 2.3(a), fewer than fifty percent (50%) of the total number of Registrable
Securities that Holders have requested to be included in such registration statement are actually included.

 

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2.4
Obligations of the Company. Whenever required under this Section 2 to effect the registration of any Registrable Securities
pursuant to a registration statement or Shelf Takedown, as applicable, the Company shall, as expeditiously as reasonably possible:

 

(a)
prepare and file with the SEC a registration statement and timely pay all required filing fees in respect thereof, with respect to
such Registrable Securities and use its commercially reasonable efforts to cause such registration statement to become effective and
keep such registration statement effective until the distribution contemplated in the registration statement has been completed;

 

(b)
prepare and file with the SEC, and timely pay all required filing fees in respect of, any such amendments and supplements to such
registration statement, and the prospectus used in connection with such registration statement, (i) as may be necessary to comply with
the Securities Act, including post-effective amendments to each registration statement as may be necessary to keep such registration
statement continuously effective for the applicable time period required hereunder, and if applicable, file any registration statements
pursuant to Rule 462(b) promulgated under the Securities Act; (ii) cause the related prospectus to be supplemented by any required prospectus
supplement, and as so supplemented to be filed pursuant to Rule 424 (or any similar provisions then in force) promulgated under the Securities
Act, (iii) as may be necessary to comply with the provisions of the Securities Act and the Exchange Act and any applicable securities
exchange or other recognized trading market with respect to the disposition of all securities covered by such Registration Statement
during such period in accordance with the intended methods of disposition by the selling Holders thereof set forth in such registration
statement as so amended or in such prospectus as so supplemented; (iv) provide additional information related to each registration statement
as requested by, and obtain any required approval necessary from, the SEC or any Governmental Entity; and (v) respond as promptly as
reasonably practicable to any comments received from the SEC and request acceleration of effectiveness promptly after it learns that
the SEC will not review the registration statement or after it has satisfied comments received from the SEC;

 

(c)
(i) prior to making any such filings described in clauses (a) or (b) above, at the Company’s expense, furnish to the Holders
whose securities are covered by the applicable registration statement copies of all such documents, other than documents that are incorporated
by reference, proposed to be filed no less than 5 business days prior to the proposed filing date and (ii) promptly following any such
filing, notify the Holders of such filing, the effectiveness of any post-effective amendment, and any written comments by the SEC, blue
sky or securities commissioner or regulator of any state with respect to any such filing;

 

(d)
furnish to the selling Holders such numbers of copies of a prospectus, including a preliminary prospectus, as required by the Securities
Act, and such other documents as the Holders may reasonably request in order to facilitate their disposition of their Registrable Securities;

 

(e)
use its commercially reasonable efforts (i) to register and qualify the securities covered by such registration statement under such
other securities or blue-sky laws of such jurisdictions within the United States as shall be reasonably requested by the selling Holders,
and (ii) to keep such registration or qualification in effect for so long as such registration statement remains in effect; provided
that the Company shall not be required to qualify to do business or to file a general consent to service of process in any such states
or jurisdictions;

 

    -10- 

     

    

 

(f)
in the event of any underwritten public offering, enter into and perform its obligations under such customary agreements, in usual
and customary form, with the underwriter(s) of such offering (including underwriting agreements in customary form, including customary
representations and warranties and provisions with respect to indemnification and contribution) and provide reasonable cooperation, including
causing appropriate officers to attend and participate in “road shows” and analyst or investor presentations and such
other selling or other informational meetings organized by the underwriters, if any, to the extent reasonably requested by the lead or
managing underwriters, with all out of pocket costs and expenses incurred by the Company or such officers in connection with such attendance
and participation to be paid by the Company;

 

(g)
use its commercially reasonable efforts to cause all such Registrable Securities covered by such registration statement to be listed
on a national securities exchange or trading system (including interdealer quotation service) and each securities exchange and trading
system (if any) on which the same class of securities issued by the Company are then listed;

 

(h)
provide a transfer agent and registrar for all Registrable Securities registered pursuant to this Agreement and provide a CUSIP or
similar number for all such Registrable Securities, in each case not later than the effective date of such registration;

 

(i)
for a reasonable period prior to the filing of any registration statement, upon reasonable notice and during normal business hours,
promptly make available for inspection and copying by the managing underwriter(s) participating in any disposition pursuant to such registration
statement or Shelf Takedown, and any attorney or accountant or other agent retained by any such Holder or underwriter or selected by
the selling Holders, those financial and other records, pertinent corporate documents, and properties of the Company, and require the
Company’s officers, directors, employees, and independent accountants to supply all information reasonably requested by any such
underwriter, attorney, accountant, or agent, in each case, as necessary and solely for purposes of such registration statement or Shelf
Takedown, as applicable to conduct appropriate due diligence in connection with establishing a due diligence defense within the meaning
of Section 11 of the Securities Act; provided that the recipient agrees to keep such information confidential;

 

(j)
permit any Holder of Registrable Securities, their respective counsel, any underwriter participating in any disposition pursuant
to a registration statement, and any other attorney, accountant or other agent retained by any such Holder of Registrable Securities
or underwriter, to participate (including, but not limited to, reviewing, commenting on and attending all meetings) in the preparation
of such registration statement and any prospectus supplements relating to a Shelf Takedown, if applicable;

 

(k)
notify each selling Holder, promptly after the Company receives notice thereof, of the time when such registration statement has
been declared effective or a supplement to any prospectus forming a part of such registration statement has been filed;

 

(l)
after such registration statement becomes effective, notify each selling Holder of any request by the SEC that the Company amend
or supplement such registration statement or prospectus;

 

(m)
cooperate with each Holder of Registrable Securities and each underwriter participating in the disposition of such Registrable Securities
and underwriters’ counsel in connection with filings required to be made with FINRA, if any;

 

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(n)
solely in the case of an underwritten offering, obtain and furnish to each underwriter (i) a customary comfort and bring down letter
from the Company’s independent public accountants, (ii) a customary legal opinion of counsel to the Company addressed to the relevant
underwriters, in each case in customary form and covering such matters of the type customarily covered by such letters as the managing
underwriters in such Shelf Takedown reasonably request, (iii) a negative assurances letter of counsel to the Company in customary form
and covering such matters of the type customarily covered by such letters as the managing underwriters in such Shelf Takedown reasonably
request, and (iv) customary certificates executed by authorized officers of the Company as may be requested by any underwriter of such
Registrable Securities included in such Shelf Takedown;

 

(o)
pay the fees of the Company’s transfer agent and any reasonable, documented legal fees of outside counsel to the Company to
provide an opinion to the effect that such transfer is permitted under the Securities Act and applicable state laws (or if outside counsel
to the Company is unwilling or unavailable to provide such opinion, the reasonable, documented legal fees of one outside counsel to the
Holders to provide such opinion) to effectuate the transfer of Registrable Securities from Holders to other Persons, as permitted by
Section 3.1; provided, in each case, that such Holders shall provide such certificates and other documentation as the Company
shall reasonably request in connection with such opinions and transfers; and

 

(p)
use its commercially reasonable efforts to take other actions necessary to effect the registration and sale of the Registrable Securities
contemplated hereby.

 

In
addition, the Company shall ensure that, at all times after any registration statement covering a public offering of securities of the
Company under the Securities Act shall have become effective, its insider trading policy shall provide that the Company’s directors
may implement a trading program under Rule 10b5-1 of the Exchange Act.

 

2.5
Furnish Information. It shall be a condition precedent to the obligations of the Company to take any action pursuant to this
Section 2 with respect to the Registrable Securities of any selling Holder that such Holder shall furnish to the Company such
information regarding itself, the Registrable Securities held by it, and the intended method of disposition of such securities as is
reasonably required to effect the registration of such Holder’s Registrable Securities.

 

2.6
Expenses of Registration. All expenses (other than Selling Expenses) arising from, incident to or incurred in connection with
registrations, filings, or qualifications pursuant to this Agreement, including, without limitation, all registration, filing, listing
and qualification fees; printers’ and accounting fees; fees and disbursements of counsel for the Company and its independent public
accountants and any other accounting and legal fees, charges and expenses incurred by the Company (including any expenses arising from
any special audits or “comfort letters” required in connection with or incident to any sale of Registrable Securities pursuant
to a registration); and the reasonable and documented fees and disbursements, not to exceed $50,000 in the aggregate of one counsel for
the selling Holders (“Selling Holder Counsel”); fees and expenses incurred in connection with any “road show”
for underwritten offerings, including travel expenses, shall be borne and paid by the Company; provided, however, that
if any registration proceeding begun pursuant to Section 2.1 is subsequently withdrawn at the request of the Holders of a majority
of the Registrable Securities to be registered (other than during a period of delay under Section 2.1(f)), then the Holders of
a majority of the Registrable Securities agree to forfeit their right to one registration (representing such withdrawn registration)
pursuant to Sections 2.1(d) or 2.1(e), unless the Company is reimbursed by such Holders requesting withdrawal for all reasonable
and documented out-of-pocket expenses incurred by the Company in connection with such registration (including reasonable fees of outside
legal counsel and third party accountants); provided, further, that if at the time of such withdrawal, the Holders shall
have learned of a material adverse change in the condition, business or prospects of the Company from that known to the Holders at the
time of their request and have withdrawn the request within a reasonable time after learning such information, then the Holders shall
not be required to pay any such expenses and shall not forfeit their right to one registration pursuant to Sections 2.1(d) or
2.1(e). All Selling Expenses relating to Registrable Securities registered pursuant to this Section 2 shall be borne and
paid by the Holders pro rata on the basis of the number of Registrable Securities registered on their behalf.

 

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2.7
Delay of Registration. No Holder shall have any right to obtain or seek an injunction restraining or otherwise delaying any
registration pursuant to this Agreement as the result of any controversy that might arise with respect to the interpretation or implementation
of this Section 2.

 

2.8
Indemnification. If any Registrable Securities are included in a registration statement under this Section 2:

 

(a)
To the fullest extent permitted by law, the Company will indemnify and hold harmless each Holder of Registrable Securities, and the
Affiliates, partners, members, managers, officers, directors, and equityholders of each such Holder; legal counsel and accountants for
each such Holder; any underwriter (as defined in the Securities Act) for each such Holder; and each Person, if any, who controls such
Holder or underwriter within the meaning of the Securities Act or the Exchange Act, against any Damages; provided, however,
that the indemnity agreement contained in this Section 2.8(a) shall not apply to amounts paid in settlement of any such claim
or proceeding if such settlement is effected without the consent of the Company, which consent shall not be unreasonably withheld, nor
shall the Company be liable for any Damages to the extent that they arise out of or are based upon actions or omissions made in reliance
upon and in conformity with written information furnished by or on behalf of any such Holder, underwriter, controlling Person, or other
aforementioned Person expressly for use in connection with such registration.

 

(b)
To the fullest extent permitted by law, each Holder of Registrable Securities, severally and not jointly, will indemnify and hold
harmless the Company, and each of its Affiliates, 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, legal counsel and accountants for the Company, any underwriter
(as defined in the Securities Act), against any Damages, in each case only to the extent that such Damages arise out of or are based
upon actions or omissions made in reliance upon and in conformity with written information furnished by or on behalf of such Holder expressly
for use in connection with such registration; provided, however, that the indemnity agreement contained in this Section
2.8(b) shall not apply to amounts paid in settlement of any such claim or proceeding if such settlement is effected without the consent
of the majority in interest of the Holders, which consent shall not be unreasonably withheld; and provided further that in no event shall
the aggregate amounts payable by any Holder by way of indemnity or contribution under Sections 2.8(b) and 2.8(d) exceed
the proceeds from the offering received by such Holder (net of any Selling Expenses paid or incurred by such Holder), except in the case
of fraud or willful misconduct by such Holder; provided, further, that a Holder shall not be liable in any case to the extent that prior
to the filing of any such registration statement or Disclosure Package, or any amendment thereof or supplement thereto, such Holder has
furnished in writing to the Company, information expressly for use in, and within a reasonable period of time prior to the effectiveness
of such registration statement or Disclosure Package, or any amendment thereof or supplement thereto which corrected or made not misleading
information previously provided to the Company.

 

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(c)
Promptly after receipt by an indemnified party under this Section 2.8 of notice of the commencement of any action (including
any governmental action) for which a party may be entitled to indemnification hereunder, such indemnified party will, if a claim in respect
thereof is to be made against any indemnifying party under this Section 2.8, give the indemnifying party notice of the commencement
thereof. The indemnifying party shall have the right to participate in such action and, to the extent the indemnifying party so desires,
participate jointly with any other indemnifying party to which notice has been given, and to assume the defense thereof with counsel
mutually satisfactory to the parties; provided, however, that an indemnified party (together with all other indemnified
parties that may be represented without conflict by one counsel) shall have the right to retain one separate counsel, with the reasonable
fees and expenses to be paid by the indemnifying party, if representation of such indemnified party by the counsel retained by the indemnifying
party would be inappropriate due to actual or potential differing interests between such indemnified party and any other party represented
by such counsel in such action. The failure to give notice to the indemnifying party within a reasonable time of the commencement of
any such action shall relieve such indemnifying party of any liability to the indemnified party under this Section 2.8, to the
extent that such failure materially prejudices the indemnifying party’s ability to defend such action. The failure to give notice
to the indemnifying party will not relieve it of any liability that it may have to any indemnified party otherwise under this Section
2.8.

 

(d)
To provide for just and equitable contribution to joint liability under the Securities Act in any case in which either: (i) any party
otherwise entitled to indemnification hereunder makes a claim for indemnification pursuant to this Section 2.8 but it is judicially
determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the
denial of the last right of appeal) that such indemnification may not be enforced in such case, notwithstanding the fact that this Section
2.8 provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of any party
hereto for which indemnification is provided under this Section 2.8, then, and in each such case, such parties will contribute
to the aggregate losses, claims, damages, liabilities, or expenses to which they may be subject (after contribution from others) in such
proportion as is appropriate to reflect the relative fault of each of the indemnifying party and the indemnified party in connection
with the statements, omissions, or other actions that resulted in such loss, claim, damage, liability, or expense, as well as to reflect
any other relevant equitable considerations. The relative fault of the indemnifying party and of the indemnified party shall be determined
by reference to, among other things, whether the untrue or allegedly untrue statement of a material fact, or the omission or alleged
omission of a material fact, relates to information supplied by the indemnifying party or by the indemnified party and the parties’
relative intent, knowledge, access to information, and opportunity to correct or prevent such statement or omission; provided,
however, that, in any such case (x) no Holder will be required to contribute any amount in excess of the public offering price
of all such Registrable Securities offered and sold by such Holder pursuant to such registration statement, and (y) no Person guilty
of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) will be entitled to contribution from any
Person who was not guilty of such fraudulent misrepresentation; and provided further that in no event shall a Holder’s liability
pursuant to this Section 2.8(d), when combined with the amounts paid or payable by such Holder pursuant to Section 2.8(b),
exceed the proceeds from the offering received by such Holder (net of any Selling Expenses paid or incurred by such Holder), except in
the case of willful misconduct or fraud by such Holder. For the avoidance of doubt, the amount paid or payable by an indemnified party
as a result of the Damages (or actions in respect thereof) referred to above in this Section 2.8(d) shall be deemed to include
any documented legal or other expenses reasonably incurred by such indemnified party in connection with investigating, preparing or defending
any such action or claim.

 

(e)
Notwithstanding the foregoing, to the extent that the provisions on indemnification and contribution contained in the underwriting
agreement entered into in connection with the underwritten public offering are in conflict with the foregoing provisions, the provisions
in the underwriting agreement shall control; provided, however, that the foregoing provisions shall control as to any matter provided
for or addressed therein that are not provided for or addressed in the underwriting agreement.

 

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(f)
Unless otherwise superseded by an underwriting agreement entered into in connection with the underwritten public offering, the obligations
of the Company and Holders under this Section 2.8 shall survive the completion of any offering of Registrable Securities in a
registration under this Section 2, and otherwise shall survive the termination of this Agreement or any provisions hereof.

 

2.9
Reports Under Exchange Act. With a view to making available to the Holders the benefits of SEC Rule 144 and any other rule
or regulation of the SEC that may at any time permit a Holder to sell securities of the Company to the public without registration or
pursuant to a registration on Form S-3, the Company shall:

 

(a)
make and keep available adequate current public information, as those terms are understood and defined in SEC Rule 144, at all times
after consummation of the Public Company Event;

 

(b)
use commercially reasonable efforts to file with the SEC in a timely manner all reports and other documents required of the Company
under the Securities Act and the Exchange Act (at any time after the Company has become subject to such reporting requirements);

 

(c)
furnish to any Holder, so long as the Holder owns any Registrable Securities, forthwith upon request (i) to the extent accurate,
a written statement by the Company that it has complied with the reporting requirements of SEC Rule 144 (at any time after ninety (90)
days after the consummation of the Public Company Event), the Securities Act, and the Exchange Act (at any time after the Company has
become subject to such reporting requirements), or that it qualifies as a registrant whose securities may be resold pursuant to Form
S-3 (at any time after the Company so qualifies); and (ii) such other information as may be reasonably requested in availing any Holder
of any rule or regulation of the SEC that permits the selling of any such securities without registration (at any time after the Company
has become subject to the reporting requirements under the Exchange Act) or pursuant to Form S-3 (at any time after the Company so qualifies
to use such form); and

 

(d)
upon request of any Holder, upon receipt by the Company of an opinion of counsel reasonably satisfactory to the Company to the effect
that any legend affixed to any Registrable Securities is no longer required under the Securities Act and applicable state laws, the Company
shall promptly cause such legend to be removed from any certificate for any Registrable Securities, including by providing any opinion
of counsel to the Company that may be required by the transfer agent to effect such removal.

 

2.10
Limitations on Subsequent Registration Rights. From and after the date of this Agreement until such time that the Company
has filed the Shelf with the SEC and, with respect to clause (ii) below only, excluding any registration rights agreement entered into
in connection with the Public Company Event, the Company shall not, without the prior written consent of the Holders of a majority of
the Registrable Securities, enter into any agreement with any holder or prospective holder of any securities of the Company that would
(i) other than pursuant to an “underwriter cutback” under an Other Registration Rights Agreement that is consistent with
Section 2.3, allow such holder or prospective holder to include such securities in any registration unless, under the terms of
such agreement, such holder or prospective holder may include such securities in any such registration only to the extent that the inclusion
of such securities will not reduce the number of the Registrable Securities of the Holders that are included; or (ii) allow such holder
or prospective holder to initiate a demand for registration of any securities held by such holder or prospective holder; provided that
this limitation shall not apply to any additional Investor who becomes party to this Agreement.

 

    -15- 

     

    

 

2.11
Termination of Registration Rights. The right of any Holder to request registration or inclusion of Registrable Securities
in any registration pursuant to Sections 2.1 or 2.2 or request distribution of Registrable Securities by means of an underwriting
pursuant to Section 2.3 shall terminate upon the 5th anniversary of any Public Company Event.

 

2.12
Successor Indemnification. If the Company or any of its successors or assignees consolidates with or merges into any other
Person and is not the continuing or surviving corporation or entity of such consolidation or merger, then to the extent necessary, proper
provision shall be made so that the successors and assignees of the Company assume the obligations of the Company with respect to indemnification
of members of the Board of Directors as in effect immediately before such transaction, whether such obligations are contained in the
Company’s operating documents, or elsewhere, as the case may be.

 

2.13
Most Favored Nations. To the extent that the Company, on or after the date hereof, grants any such superior or more favorable
rights or terms relating to the subject matter of this Agreement to any Person (including Other Registration Rights Agreements) than
those provided to the Holders as set forth herein, any such superior or more favorable rights or terms shall also be deemed to have been
granted simultaneously to each Holder on the date of such grant and the Company shall amend this Agreement to reflect such superior or
more favorable rights.

 

3.
Miscellaneous.

 

3.1
Successors and Assigns. The rights under this Agreement may be assigned (but only with all related obligations) by a Holder
to a transferee of Registrable Securities that (i) is an Affiliate of a Holder; (ii) is a Holder’s Immediate Family Member or trust
for the benefit of an individual Holder or one or more of such Holder’s Immediate Family Members; or (iii) after such transfer,
holds at least 2,000,000 shares of Registrable Securities (subject to appropriate adjustment for stock splits, stock dividends, combinations,
and other recapitalizations); provided, however, that (x) the Company is, within a reasonable time after such transfer, furnished with
written notice of the name and address of such transferee and the Registrable Securities with respect to which such rights are being
transferred; and (y) such transferee agrees in a written instrument delivered to the Company to be bound by and subject to the terms
and conditions of this Agreement. For the purposes of determining the number of shares of Registrable Securities held by a transferee,
the holdings of a transferee (1) that is an Affiliate or stockholder of a Holder; (2) who is a Holder’s Immediate Family Member;
or (3) that is a trust for the benefit of an individual Holder or such Holder’s Immediate Family Member shall be aggregated together
and with those of the transferring Holder; provided further that all transferees who would not qualify individually for assignment of
rights shall have a single attorney-in-fact for the purpose of exercising any rights, receiving notices, or taking any action under this
Agreement. The terms and conditions of this Agreement inure to the benefit of and are binding upon the respective successors and permitted
assignees of the parties. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties
hereto or their respective successors and permitted assignees any rights, remedies, obligations or liabilities under or by reason of
this Agreement, except as expressly provided herein.

 

3.2
Governing Law. This Agreement shall be governed by the internal law of the State of Delaware, without regard to conflict of
law principles that would result in the application of any law other than the law of the State of Delaware.

 

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3.3
Counterparts. This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original, but
all of which together shall constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including
pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission
method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

 

3.4
Titles and Subtitles. The titles and subtitles used in this Agreement are for convenience only and are not to be considered
in construing or interpreting this Agreement.

 

3.5
Notices.

 

(a)
All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively
given upon the earlier of actual receipt or (i) personal delivery to the party to be notified; (ii) when sent, if sent by electronic
mail (provided no notice of non-delivery is generated); (iii) five (5) days after having been sent by registered or certified mail, return
receipt requested, postage prepaid; or (iv) one (1) business day after the business day of deposit with a nationally recognized overnight
courier, freight prepaid, specifying next-day delivery, with written verification of receipt. All communications shall be sent to the
respective parties at their addresses as set forth on the signature pages or Schedule A hereto, or to the principal office of
the Company and to the attention of Jeremy M. Dale, General Counsel at                                   , in the case of the Company, or to such
email address, facsimile number, or address as subsequently modified by written notice given in accordance with this Section 3.5.
If notice is given to the Company, a copy (which copy shall not constitute notice) shall also be sent to Greenberg Traurig, P.A., 333
SE 2nd Avenue, Suite 4400, Miami, FL 33131, Attention: Jaret L. Davis (Davisj@gtlaw.com) and Drew Altman (AltmanD@gtlaw.com) and if notice
is given to the Holders, a copy (which copy shall not constitute notice) shall also be given to Willkie Farr & Gallagher LLP, 787
Seventh Avenue, New York, NY 10019, Attention: Eric Haleperin (ehalperin@willkie.com); Sean Ewen (sewen@willkie.com); and Jeffrey Goldfarb
(jgoldfarb@willkie.com).

 

(b)
Consent to Electronic Notice. Each Investor consents to the delivery of any stockholder notice pursuant to the Delaware General
Corporation Law (the “DGCL”), as amended or superseded from time to time, by electronic transmission pursuant to Section
232 of the DGCL (or any successor thereto) at the electronic mail address or the facsimile number set forth below such Investor’s
name on the Schedules hereto, as updated from time to time by notice to the Company, or as on the books of the Company. To the extent
that any notice given by means of electronic transmission is returned or undeliverable for any reason, the foregoing consent shall be
deemed to have been revoked until a new or corrected electronic mail address has been provided, and such attempted Electronic Notice
shall be ineffective and deemed to not have been given. Each Investor agrees to promptly notify the Company of any change in such Investor’s
electronic mail address, and that failure to do so shall not affect the foregoing.

 

3.6
Amendments and Waivers. Except for amendments effected pursuant to Section 2.13 which shall not require the consent
of any Holder, any term of this Agreement may be amended, modified or terminated and the observance of any term of this Agreement 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 a majority of the Registrable Securities; provided that any provision hereof may be waived by any
waiving party on such party’s own behalf, without the consent of any other party. Notwithstanding the foregoing, Schedule A
hereto may be amended by the Company from time to time to add transferees of any Registrable Securities in compliance with the terms
of this Agreement without the consent of the other parties. The Company shall give prompt notice of any amendment, modification or termination
hereof or waiver hereunder to any party hereto that did not consent in writing to such amendment, modification, termination, or waiver.
Any amendment, modification, termination, or waiver effected in accordance with this Section 3.6 shall be binding on all parties
hereto, regardless of whether any such party has consented thereto. Notwithstanding anything set forth herein to the contrary, the observance
of Section 2.1(h) hereof may be waived (either generally or in a particular instance, and either retroactively or prospectively)
solely by the consent of Magnetar Financial, LLC. No waivers of or exceptions to any term, condition, or provision of this Agreement,
in any one or more instances, shall be deemed to be or construed as a further or continuing waiver of any such term, condition, or provision.

 

    -17- 

     

    

 

3.7
Severability. In case any one or more of the provisions contained in this Agreement is for any reason held to be invalid,
illegal or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provision of this
Agreement, and such invalid, illegal, or unenforceable provision shall be reformed and construed so that it will be valid, legal, and
enforceable to the maximum extent permitted by law.

 

3.8
Aggregation of Stock; Apportionment. All shares of Registrable Securities held or acquired by Affiliates shall be aggregated
together for the purpose of determining the availability of any rights under this Agreement and such Affiliated persons may apportion
such rights as among themselves in any manner they deem appropriate.

 

3.9
Entire Agreement. This Agreement (including any Schedules and Exhibits hereto) constitutes the full and entire understanding
and agreement among the parties with respect to the subject matter hereof, and any other written or oral agreement relating to the subject
matter hereof existing between the parties is expressly canceled.

 

3.10
Dispute Resolution. The parties (a) hereby irrevocably and unconditionally submit to the jurisdiction of the state courts
of Delaware and to the jurisdiction of the United States District Court for the District of Delaware for the purpose of any suit, action
or other proceeding arising out of or based upon this Agreement, (b) agree not to commence any suit, action or other proceeding arising
out of or based upon this Agreement except in the state courts of Delaware or the United States District Court for the District of Delaware,
and (c) hereby waive, and agree not to assert, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding,
any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from
attachment or execution, that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action
or proceeding is improper or that this Agreement or the subject matter hereof may not be enforced in or by such court.

 

WAIVER
OF JURY TRIAL: EACH PARTY HEREBY WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS
AGREEMENT, THE OTHER NOTE ISSUANCE AGREEMENT DOCUMENTS, THE SECURITIES OR THE SUBJECT MATTER HEREOF OR THEREOF. THE SCOPE OF THIS WAIVER
IS INTENDED TO BE ALL ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS
TRANSACTION, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS (INCLUDING NEGLIGENCE), BREACH OF DUTY CLAIMS, AND ALL OTHER
COMMON LAW AND STATUTORY CLAIMS. THIS SECTION HAS BEEN FULLY DISCUSSED BY EACH OF THE PARTIES HERETO AND THESE PROVISIONS WILL NOT BE
SUBJECT TO ANY EXCEPTIONS. EACH PARTY HERETO HEREBY FURTHER WARRANTS AND REPRESENTS THAT SUCH PARTY HAS REVIEWED THIS WAIVER WITH ITS
LEGAL COUNSEL, AND THAT SUCH PARTY KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL.

 

The
prevailing party shall be entitled to reasonable attorney’s fees, costs, and necessary disbursements in addition to any other relief
to which such party may be entitled.

 

3.11
Delays or Omissions. No delay or omission to exercise any right, power, or remedy accruing to any party under this Agreement,
upon any breach or default of any other party under this Agreement, shall impair any such right, power, or remedy of such nonbreaching
or nondefaulting party, nor shall it be construed to be a waiver of or acquiescence to any such breach or default, or to any similar
breach or default thereafter occurring, nor shall any waiver of any single breach or default be deemed a waiver of any other breach or
default theretofore or thereafter occurring. All remedies, whether under this Agreement or by law or otherwise afforded to any party,
shall be cumulative and not alternative.

 

    -18- 

     

    

 

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

	 	COMPANY:
	 	 	 
	 	CYXTERA CYBERSECURITY, INC. 
	 	(d/b/a Appgate)
	 	 	 
	 	By: 	/s/ Barry Field
	 	Name:	Barry Field
	 	Title:	CEO
	 	Email:	                                  
	 	Address: 	2333 Ponce De Leon Blvd., Suite
    900
	 	 	Coral Gables, Florida 33134

 

SIGNATURE
PAGE TO

REGISTRATION
RIGHTS AGREEMENT

 

     

     

    

 

	 	INVESTORS:
	 	 	 
	 	MAGNETAR CONSTELLATION MASTER FUND, LTD.
	 	By: Magnetar Financial LLC, its investment manager
	 	 	 
	 	 	                                                                   
	 	By:	/s/ Karl Wachter
	 	Name:	Karl Wachter
	 	Title:	General Counsel
	 	 	 
	 	Address:
	 	c/o Magnetar Financial LLC
	 	1603 Orrington Avenue, 13th Floor
	 	Evanston, Illinois 60201
	 	Attn. Chief Legal Officer
	 	T: 847-905-4400
	 	F:847-869-2064
	 	E: fisecuritynotices@magnetar.com

 

SIGNATURE
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REGISTRATION
RIGHTS AGREEMENT

 

     

     

    

 

	 	MAGNETAR CONSTELLATION FUND II, LTD.
	 	By: Magnetar Financial LLC, its investment manager
	 	 	 
	 	 	                                                                   
	 	By:	/s/ Karl Wachter
	 	Name:	Karl Wachter
	 	Title:	General Counsel
	 	 	 
	 	Address:
	 	c/o Magnetar Financial LLC
	 	1603 Orrington Avenue, 13th Floor
	 	Evanston, Illinois 60201
	 	Attn. Chief Legal Officer
	 	T: 847-905-4400
	 	F:847-869-2064
	 	E: fisecuritynotices@magnetar.com

 

SIGNATURE
PAGE TO

REGISTRATION
RIGHTS AGREEMENT

 

     

     

    

 

	 	MAGNETAR XING HE MASTER FUND LTD

	 	By: Magnetar Financial LLC, its investment manager
	 	 	 
	 	 	                                                                   
	 	By:	/s/ Karl Wachter
	 	Name:	Karl Wachter
	 	Title:	General Counsel
	 	 	 
	 	Address:
	 	c/o Magnetar Financial LLC
	 	1603 Orrington Avenue, 13th Floor
	 	Evanston, Illinois 60201
	 	Attn. Chief Legal Officer
	 	T: 847-905-4400
	 	F:847-869-2064
	 	E: fisecuritynotices@magnetar.com

 

SIGNATURE
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REGISTRATION
RIGHTS AGREEMENT

 

     

     

    

 

 

	 	MAGNETAR SC FUND LTD

	 	By: Magnetar Financial LLC, its investment advisor
	 	 	 
	 	 	                                                                   
	 	By:	/s/ Karl Wachter
	 	Name:	Karl Wachter
	 	Title:	General Counsel
	 	 	 
	 	Address:
	 	c/o Magnetar Financial LLC
	 	1603 Orrington Avenue, 13th Floor
	 	Evanston, Illinois 60201
	 	Attn. Chief Legal Officer
	 	T: 847-905-4400
	 	F:847-869-2064
	 	E: fisecuritynotices@magnetar.com

 

SIGNATURE
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REGISTRATION
RIGHTS AGREEMENT

 

     

     

    

 

	 	PURPOSE
                    ALTERNATIVE CREDIT FUND – T LLC

	 	By: Magnetar Financial LLC, its investment manager
	 	 	 
	 	 	                                                                   
	 	By:	/s/ Karl Wachter
	 	Name:	Karl Wachter
	 	Title:	General Counsel
	 	 	 
	 	Address:
	 	c/o Magnetar Financial LLC
	 	1603 Orrington Avenue, 13th Floor
	 	Evanston, Illinois 60201
	 	Attn. Chief Legal Officer
	 	T: 847-905-4400
	 	F:847-869-2064
	 	E: fisecuritynotices@magnetar.com

 

SIGNATURE
PAGE TO

REGISTRATION
RIGHTS AGREEMENT

 

     

     

    

 

	 	PURPOSE
                    ALTERNATIVE CREDIT FUND – F LLC

	 	By: Magnetar Financial LLC, its investment manager
	 	 	 
	 	 	                                                                   
	 	By:	/s/ Karl Wachter
	 	Name:	Karl Wachter
	 	Title:	General Counsel
	 	 	 
	 	Address:
	 	c/o Magnetar Financial LLC
	 	1603 Orrington Avenue, 13th Floor
	 	Evanston, Illinois 60201
	 	Attn. Chief Legal Officer
	 	T: 847-905-4400
	 	F:847-869-2064
	 	E: fisecuritynotices@magnetar.com

 

SIGNATURE
PAGE TO

REGISTRATION
RIGHTS AGREEMENT

 

     

     

    

 

	 	MAGNETAR
                    STRUCTURED CREDIT FUND, LP

	 	By: Magnetar Financial LLC, its general partner
	 	 	 
	 	 	                                                                   
	 	By:	/s/ Karl Wachter
	 	Name:	Karl Wachter
	 	Title:	General Counsel
	 	 	 
	 	Address:
	 	c/o Magnetar Financial LLC
	 	1603 Orrington Avenue, 13th Floor
	 	Evanston, Illinois 60201
	 	Attn. Chief Legal Officer
	 	T: 847-905-4400
	 	F:847-869-2064
	 	E: fisecuritynotices@magnetar.com

 

SIGNATURE
PAGE TO

REGISTRATION
RIGHTS AGREEMENT

 

     

     

    

 

	 	
MAGNETAR
                                            LONGHORN FUND LP

	 	By:
                    Magnetar Financial LLC, its investment manager

	 	 	 
	 	 	                                                                   
	 	By:	/s/ Karl Wachter
	 	Name:	Karl Wachter
	 	Title:	General Counsel
	 	 	 
	 	Address:
	 	c/o Magnetar Financial LLC
	 	1603 Orrington Avenue, 13th Floor
	 	Evanston, Illinois 60201
	 	Attn. Chief Legal Officer
	 	T: 847-905-4400
	 	F:847-869-2064
	 	E: fisecuritynotices@magnetar.com

 

SIGNATURE
PAGE TO

REGISTRATION
RIGHTS AGREEMENT

 

     

     

    

 

	 	
MAGNETAR
                                            LAKE CREDIT FUND LLC

	 	By:
                    Magnetar Financial LLC, its manager

	 	 	 
	 	 	                                                                   
	 	By:	/s/ Karl Wachter
	 	Name:	Karl Wachter
	 	Title:	General Counsel
	 	 	 
	 	Address:
	 	c/o Magnetar Financial LLC
	 	1603 Orrington Avenue, 13th Floor
	 	Evanston, Illinois 60201
	 	Attn. Chief Legal Officer
	 	T: 847-905-4400
	 	F:847-869-2064
	 	E: fisecuritynotices@magnetar.com

 

SIGNATURE
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REGISTRATION
RIGHTS AGREEMENT

 

     

     

    

 

SCHEDULE
A

Investors

 

		1.	Magnetar
                                            Constellation Master Fund, Ltd

 

		2.	Magnetar
                                            Constellation Fund II, Ltd

 

		3.	Magnetar
                                            Structured Credit Fund, LP

 

		4.	Magnetar
                                            Xing He Master Fund Ltd

 

		5.	Magnetar
                                            SC Fund Ltd

 

		6.	Magnetar
                                            Longhorn Fund LP

 

		7.	Purpose
                                            Alternative Credit Fund - F LLC

 

		8.	Purpose
                                            Alternative Credit Fund - T LLC

 

		9.	Magnetar
                                            Lake Credit Fund LLCExhibit 10.9

 

APPGATE, INC.

 

INDEMNIFICATION AGREEMENT

 

This Indemnification and Advancement
Agreement (“Agreement”) is made as of [________ __, _____] by and between Appgate, Inc., a Delaware corporation (the “Company”),
and [______________], a member of the Board of Directors or an officer of the Company (“Indemnitee”). This Agreement supersedes
and replaces any and all previous Agreements between the Company and Indemnitee covering indemnification and advancement.

 

RECITALS

 

WHEREAS, the Board of Directors
of the Company (the “Board”) believes that highly competent persons have become more reluctant to serve publicly-held corporations
as directors, officers, or in other capacities unless they are provided with adequate protection through insurance or adequate indemnification
and advancement of expenses against inordinate risks of claims and actions against them arising out of their service to and activities
on behalf of the corporation;

 

WHEREAS, the Board has determined
that, in order to attract and retain qualified individuals, the Company will attempt to maintain on an ongoing basis, at its sole expense,
liability insurance to protect persons serving the Company and its subsidiaries from certain liabilities. Although the furnishing of such
insurance has been a customary and widespread practice among United States-based corporations and other business enterprises, the Company
believes that, given current market conditions and trends, such insurance may be available to it in the future only at higher premiums
and with more exclusions. At the same time, directors, officers, and other persons in service to corporations or business enterprises
are being increasingly subjected to expensive and time-consuming litigation relating to, among other things, matters that traditionally
would have been brought only against the Company or business enterprise itself. The amended and restated bylaws and second amended and
restated certificate of incorporation of the Company (each as may be amended from time to time, the “Bylaws” and “Certificate
of Incorporation”, respectively) require indemnification of the officers and directors of the Company. Indemnitee may also be entitled
to indemnification pursuant to the General Corporation Law of the State of Delaware (the “DGCL”). The Bylaws, Certificate
of Incorporation, and the DGCL expressly provide that the indemnification provisions set forth therein are not exclusive, and thereby
contemplate that contracts may be entered into between the Company and members of the Board, officers and other persons with respect to
indemnification and advancement of expenses;

 

WHEREAS, the uncertainties
relating to such insurance, to indemnification, and to advancement of expenses may increase the difficulty of attracting and retaining
such persons;

 

WHEREAS, the Board has determined
that the increased difficulty in attracting and retaining such persons is detrimental to the best interests of the Company and its stockholders
and that the Company should act to assure such persons that there will be increased certainty of such protection in the future;

 

WHEREAS, it is reasonable,
prudent and necessary for the Company contractually to obligate itself to indemnify, and to advance expenses on behalf of, such persons
to the fullest extent permitted by Applicable Law (as defined below) so that they will serve or continue to serve the Company free from
undue concern that they will not be so indemnified;

  

WHEREAS, this Agreement is
a supplement to and in furtherance of the Bylaws, Certificate of Incorporation and any resolutions adopted pursuant thereto, and is not
a substitute therefor, nor diminishes or abrogates any rights of Indemnitee thereunder; and

 

WHEREAS, Indemnitee does not
regard the protection available under the Bylaws, Certificate of Incorporation, DGCL and insurance as adequate in the present circumstances,
and may not be willing to serve or continue to serve as an officer or director without adequate additional protection, and the Company
desires Indemnitee to serve or continue to serve in such capacity. Indemnitee is willing to serve, continue to serve and to take on additional
service for or on behalf of the Company on the condition that Indemnitee be so indemnified and be advanced expenses.

 

    1

     

    

 

NOW, THEREFORE, in consideration
of the premises and the covenants contained herein, the Company and Indemnitee do hereby covenant and agree as follows:

 

Section 1. Services
to the Company. Indemnitee agrees to serve as a [director][officer][director and officer] of the Company. Indemnitee may at any time
and for any reason resign from such position(s) (subject to any other contractual obligation or any obligation imposed by operation of
law). This Agreement does not create any obligation on the Company to continue Indemnitee in such position(s) and is not an employment
contract between the Company (or any of its subsidiaries or any Enterprise) and Indemnitee.

 

Section 2. Definitions. As used in
this Agreement:

 

(a) “Agent” means
any person who is authorized by the Company or an Enterprise to act for or represent the interests of the Company or an Enterprise, respectively.

 

(b) “Applicable Law”
means applicable law, including as it presently exists or may hereafter be amended, but, in the case of any such amendment, only to the
extent that such amendment permits the Company to provide broader indemnification rights than such law permitted the Company to provide
prior to such amendment.

 

(c) A “Change in Control”
occurs upon the earliest to occur after the date of this Agreement of any of the following events:

 

i. Acquisition of
Stock by Third Party. Other than an affiliate of BC Partners, Inc. or Medina Partners, LLC, any Person (as defined below) that is or becomes
the Beneficial Owner (as defined below), directly or indirectly, of securities of the Company representing fifteen percent (15%) or more
of the combined voting power of the Company’s then outstanding securities, unless (1) the change in relative beneficial ownership
of the Company’s securities by any Person results solely from a reduction in the aggregate number of outstanding shares of securities
entitled to vote generally in the election of directors, or (2) such acquisition was approved in advance by the Continuing Directors
(as defined below) and such acquisition would not constitute a Change in Control under part (iii) of this definition;

 

ii. Change in Board
of Directors. During any period of two (2) consecutive years (not including any period prior to the execution of this Agreement),
individuals who at the beginning of such period constitute the Board, and any new directors (other than a director designated by a person
who has entered into an agreement with the Company to effect a transaction described in Sections 2(c)(i), 2(c)(iii) or 2(c)(iv)) whose
election by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds of
the directors then still in office who either were directors at the beginning of the period or whose election or nomination for election
was previously so approved (collectively, the “Continuing Directors”), cease for any reason to constitute at least a majority
of the members of the Board;

 

iii. Corporate Transactions.
The effective date of a merger or consolidation of the Company with any other entity (including any reorganization or similar transaction
to which the Company is a party or a sale or other disposition of all or substantially all of the assets of the Company), other than a
merger or consolidation which would result in the voting securities of the Company outstanding immediately prior to such merger or consolidation
continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than
50% of the combined voting power of the voting securities of the surviving entity outstanding immediately after such merger or consolidation
and with the power to elect at least a majority of the board of directors or other governing body of such surviving entity;

 

iv. Liquidation.
The approval by the stockholders of the Company of a complete liquidation of the Company or an agreement for the sale or disposition by
the Company of all or substantially all of the Company’s assets; and

 

v. Other Events.
There occurs any other event of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation
14A (or a response to any similar item on any similar schedule or form) promulgated under the Exchange Act (as defined below), whether
or not the Company is then subject to such reporting requirement.

 

    2

     

    

 

vi. For purposes
of this Section 2(c), the following terms have the following meanings:

 

		1	“Exchange Act” means
the Securities Exchange Act of 1934, as amended from time to time.

 

		2	“Person” has the meaning
as set forth in Sections 13(d) and 14(d) of the Exchange Act; provided, however, that Person excludes (i) the Company, (ii) any
trustee or other fiduciary holding securities under an employee benefit plan of the Company, and (iii) any corporation owned, directly
or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company.

 

		3	“Beneficial Owner”
has the meaning given to such term in Rule 13d-3 under the Exchange Act; provided, however, that Beneficial Owner excludes any Person
otherwise becoming a Beneficial Owner by reason of the stockholders of the Company approving a merger of the Company with another entity.

 

(d) “Corporate Status”
describes the status of a person who is or was acting as a director, officer, employee, fiduciary, or Agent of the Company or an Enterprise.

 

(e) “Disinterested Director”
means a director of the Company who is not and was not a party to the Proceeding in respect of which indemnification is sought by Indemnitee.

 

(f) “Enterprise”
means any other corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other entity for which
Indemnitee is or was serving at the request of the Company as a director, officer, employee, or Agent.

 

(g) “Expenses”
includes all reasonable attorneys’ fees, retainers, court costs, transcript costs, fees of experts and other professionals, witness
fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, any federal,
state, local or foreign taxes imposed on Indemnitee as a result of the actual or deemed receipt of any payments under this Agreement,
ERISA excise taxes and penalties, and all other disbursements or expenses of the types customarily incurred in connection with prosecuting,
defending, preparing to prosecute or defend, investigating, being or preparing to be a witness in, or otherwise participating in, a Proceeding.
Expenses also include (i) Expenses incurred in connection with any appeal resulting from any Proceeding, including without limitation
the premium, security for, and other costs relating to any cost bond, supersedeas bond, or other appeal bond or its equivalent, and (ii) for
purposes of Section 14(d) only, Expenses incurred by Indemnitee in connection with the interpretation, enforcement or defense of
Indemnitee’s rights under this Agreement, by litigation or otherwise. The parties agree that for the purposes of any advancement
of Expenses for which Indemnitee has made written demand to the Company in accordance with this Agreement, all Expenses included in such
demand that are certified by affidavit of Indemnitee’s counsel as being reasonable in the good faith judgment of such counsel will
be presumed conclusively to be reasonable. Expenses, however, do not include amounts paid in settlement by Indemnitee or the amount of
judgments or fines against Indemnitee.

 

(h) “Independent Counsel”
means a law firm, or a member of a law firm, that is experienced in matters of corporation law and neither presently is, nor in the past
five years has been, retained to represent: (i) the Company or Indemnitee in any matter material to either such party (other than
with respect to matters concerning the Indemnitee under this Agreement, or of other indemnitees under similar indemnification agreements),
or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the
term “Independent Counsel” does not include any person who, under the applicable standards of professional conduct then prevailing,
would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s rights
under this Agreement.

 

(i) The term “Proceeding”
includes any threatened, pending or completed action, suit, claim, counterclaim, cross claim, arbitration, mediation, alternate dispute
resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding, whether
brought in the right of the Company or otherwise and whether of a civil, criminal, administrative, legislative, or investigative (formal
or informal) nature, including any appeal therefrom, in which Indemnitee was, is or will be involved as a party, potential party, non-party
witness or otherwise by reason of Indemnitee’s Corporate Status or by reason of any action taken by Indemnitee (or a failure to
take action by Indemnitee) or of any action (or failure to act) on Indemnitee’s part while acting pursuant to Indemnitee’s
Corporate Status, in each case whether or not serving in such capacity at the time any liability or Expense is incurred for which indemnification,
reimbursement, or advancement of Expenses can be provided under this Agreement. A Proceeding also includes a situation the Indemnitee
believes in good faith may lead to or culminate in the institution of a Proceeding.

 

    3

     

    

 

Section 3. Indemnity
in Third-Party Proceedings. The Company will indemnify Indemnitee in accordance with the provisions of this Section 3 if Indemnitee
is, or is threatened to be made, a party to or a participant in any Proceeding, other than a Proceeding by or in the right of the Company
to procure a judgment in its favor. Pursuant to this Section 3, the Company will indemnify Indemnitee to the fullest extent permitted
by applicable law against all Expenses, judgments, fines and amounts paid in settlement (including all interest, assessments and other
charges paid or payable in connection with or in respect of such Expenses, judgments, fines and amounts paid in settlement) actually and
reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with such Proceeding or any claim, issue or matter therein,
if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the
Company and, in the case of a criminal Proceeding had no reasonable cause to believe that Indemnitee’s conduct was unlawful.

 

Section 4. Indemnity
in Proceedings by or in the Right of the Company. The Company will indemnify Indemnitee in accordance with the provisions of this
Section 4 if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding by or in the right of the
Company to procure a judgment in its favor. Pursuant to this Section 4, the Company will indemnify Indemnitee to the fullest extent
permitted by applicable law against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection
with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed
to be in or not opposed to the best interests of the Company. The Company will not indemnify Indemnitee for Expenses under this Section 4
related to any claim, issue or matter in a Proceeding for which Indemnitee has been finally adjudged by a court to be liable to the Company,
unless, and only to the extent that, the Delaware Court of Chancery or any court in which the Proceeding was brought determines upon application
by Indemnitee that, despite the adjudication of liability but in view of all the circumstances of the case, Indemnitee is fairly and reasonably
entitled to indemnification.

 

Section 5. Indemnification
for Expenses of a Party Who is Wholly or Partly Successful. To the fullest extent permitted by applicable law, the Company will indemnify
Indemnitee against all Expenses actually and reasonably incurred by Indemnitee in connection with any Proceeding the extent that Indemnitee
is successful, on the merits or otherwise. If Indemnitee is not wholly successful in such Proceeding but is successful, on the merits
or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Company will indemnify Indemnitee
against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with or related to each
successfully resolved claim, issue or matter to the fullest extent permitted by law. For purposes of this Section 5 and without limitation,
the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, will be deemed to be a successful
result as to such claim, issue or matter.

 

Section 6. Indemnification
For Expenses of a Witness. To the fullest extent permitted by applicable law, the Company will indemnify Indemnitee against all Expenses
actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with any Proceeding to which Indemnitee is
not a party but to which Indemnitee is a witness, deponent, interviewee, or otherwise asked to participate.

 

Section 7. Partial
Indemnification. If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some or a portion
of Expenses, but not, however, for the total amount thereof, the Company will indemnify Indemnitee for the portion thereof to which Indemnitee
is entitled.

 

Section 8. Additional
Indemnification. Notwithstanding any limitation in Sections 3, 4, or 5, the Company will indemnify Indemnitee to the fullest extent
permitted by applicable law (including but not limited to, the DGCL and any amendments to or replacements of the DGCL adopted after the
date of this Agreement that expand the Company’s ability to indemnify its officers and directors) if Indemnitee is a party to or
threatened to be made a party to any Proceeding (including a Proceeding by or in the right of the Company to procure a judgment in its
favor).

 

Section 9. Exclusions.
Notwithstanding any provision in this Agreement, the Company is not obligated under this Agreement to make any indemnification payment
to Indemnitee in connection with any Proceeding:

 

(a) for which payment
has actually been made to or on behalf of Indemnitee under any insurance policy or other indemnity provision, except to the extent provided
in Section 15(b) and except with respect to any excess beyond the amount paid under any insurance policy or other indemnity provision;
or

 

    4

     

    

 

(b) for (i) an
accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company within the meaning
of Section 16(b) of the Exchange Act (as defined in Section 2(c) hereof) or similar provisions of state statutory law or common
law, (ii) any reimbursement of the Company by the Indemnitee of any bonus or other incentive-based or equity-based compensation or
of any profits realized by the Indemnitee from the sale of securities of the Company, as required in each case under the Exchange Act
(including any such reimbursements that arise from an accounting restatement of the Company pursuant to Section 304 of the Sarbanes-Oxley
Act of 2002 (the “Sarbanes-Oxley Act”), or the payment to the Company of profits arising from the purchase and sale by Indemnitee
of securities in violation of Section 306 of the Sarbanes-Oxley Act) or (iii) any reimbursement of the Company by Indemnitee
of any compensation pursuant to any compensation recoupment or clawback policy adopted by the Board or the compensation committee of the
Board, including but not limited to any such policy adopted to comply with stock exchange listing requirements implementing Section 10D
of the Exchange Act; or

 

(c) initiated by
Indemnitee, including any Proceeding (or any part of any Proceeding) initiated by Indemnitee against the Company or its directors, officers,
employees or other indemnitees, unless (i) the Proceeding or part of any Proceeding is to enforce Indemnitee’s rights to indemnification
or advancement, of Expenses, including a Proceeding (or any part of any Proceeding) initiated pursuant to Section 14 of this Agreement,
(ii) the Board authorized the Proceeding (or any part of any Proceeding) prior to its initiation or (iii) the Company provides
the indemnification, in its sole discretion, pursuant to the powers vested in the Company under applicable law.

 

Section 10. Advances of Expenses.

 

(a) The Company
will advance, to the extent not prohibited by law, the Expenses incurred by Indemnitee in connection with any Proceeding (or any part
of any Proceeding) not initiated by Indemnitee or any Proceeding (or any part of any Proceeding) initiated by Indemnitee if (i) the
Proceeding or part of any Proceeding is to enforce Indemnitee’s rights to obtain indemnification or advancement of Expenses from
the Company or Enterprise, including a proceeding initiated pursuant to Section 14 or (ii) the Board authorized the Proceeding
(or any part of any Proceeding) prior to its initiation. The Company will advance the Expenses within thirty (30) days after the
receipt by the Company of a statement or statements requesting such advances from time to time, whether prior to or after final disposition
of any Proceeding.

 

(b) Advances will
be unsecured and interest free. Indemnitee undertakes to repay the amounts advanced (without interest) to the extent that it is ultimately
determined that Indemnitee is not entitled to be indemnified by the Company, thus Indemnitee qualifies for advances upon the execution
of this Agreement and delivery to the Company. No other form of undertaking is required other than the execution of this Agreement. The
Company will make advances without regard to Indemnitee’s ability to repay the Expenses and without regard to Indemnitee’s
ultimate entitlement to indemnification under the other provisions of this Agreement.

 

Section 11. Procedure for Notification
of Claim for Indemnification or Advancement.

 

(a) Indemnitee will
notify the Company in writing of any Proceeding with respect to which Indemnitee intends to seek indemnification or advancement of Expenses
hereunder as soon as reasonably practicable following the receipt by Indemnitee of written notice thereof. Indemnitee will include in
the written notification to the Company a description of the nature of the Proceeding and the facts underlying the Proceeding and provide
such documentation and information as is reasonably available to Indemnitee and is reasonably necessary to determine whether and to what
extent Indemnitee is entitled to indemnification following the final disposition of such Proceeding. Indemnitee’s failure to notify
the Company will not relieve the Company from any obligation it may have to Indemnitee under this Agreement, and any delay in so notifying
the Company will not constitute a waiver by Indemnitee of any rights under this Agreement. The Secretary of the Company will, promptly
upon receipt of such a request for indemnification or advancement, advise the Board in writing that Indemnitee has requested indemnification
or advancement.

 

    5

     

    

 

(b) The Company will be entitled
to participate in the Proceeding at its own expense.

 

Section 12. Procedure Upon Application
for Indemnification.

 

(a) Unless a Change
in Control has occurred, the determination of Indemnitee’s entitlement to indemnification will be made:

 

i. by a majority vote
of the Disinterested Directors, even though less than a quorum of the Board;

 

ii. by a committee
of Disinterested Directors designated by a majority vote of the Disinterested Directors, even though less than a quorum of the Board;

 

iii. if there are
no such Disinterested Directors or, if such Disinterested Directors so direct, by written opinion provided by Independent Counsel selected
by the Board; or

 

iv. if so directed
by the Board, by the stockholders of the Company.

 

(b) If a Change
in Control has occurred, the determination of Indemnitee’s entitlement to indemnification will be made by written opinion provided
by Independent Counsel selected by Indemnitee (unless Indemnitee requests such selection be made by the Disinterested Directors of the
Board).

 

(c) The party selecting
Independent Counsel pursuant to subsection (a)(iii) or (b) of this Section 12 will provide written notice of the selection to
the other party. The notified party may, within ten (10) days after receiving written notice of the selection of Independent Counsel,
deliver to the selecting party a written objection to such selection; provided, however, that such objection may be asserted
only on the ground that the Independent Counsel so selected does not meet the requirements of “Independent Counsel” as defined
in Section 2 of this Agreement, and the objection will set forth with particularity the factual basis of such assertion. Absent a
proper and timely objection, the person so selected will act as Independent Counsel. If such written objection is so made and substantiated,
the Independent Counsel so selected may not serve as Independent Counsel unless and until such objection is withdrawn or the Delaware
Court has determined that such objection is without merit. If, within thirty (30) days after the later of submission by Indemnitee
of a written request for indemnification pursuant to Section 11(a) hereof and the final disposition of the Proceeding, Independent
Counsel has not been selected or, if selected, any objection to has not been resolved, either the Company or Indemnitee may petition the
Delaware Court for the appointment as Independent Counsel of a person selected by such court or by such other person as such court designates.
Upon the due commencement of any judicial proceeding or arbitration pursuant to Section 14(a) of this Agreement, Independent Counsel
will be discharged and relieved of any further responsibility in such capacity (subject to the applicable standards of professional conduct
then prevailing).

 

(d) Indemnitee will
cooperate with the person, persons or entity making the determination with respect to Indemnitee’s entitlement to indemnification,
including providing to such person, persons or entity upon reasonable advance request any documentation or information which is not privileged
or otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary to such determination.
The Company will advance and pay any Expenses incurred by Indemnitee in so cooperating with the person, persons or entity making the indemnification
determination irrespective of the determination as to Indemnitee’s entitlement to indemnification and the Company hereby indemnifies
and agrees to hold Indemnitee harmless therefrom. The Company promptly will advise Indemnitee in writing of the determination that Indemnitee
is or is not entitled to indemnification, including a description of any reason or basis for which indemnification has been denied and
providing a copy of any written opinion provided to the Board by Independent Counsel.

 

(e) If it is determined
that Indemnitee is entitled to indemnification, the Company will make payment to Indemnitee within thirty (30) days after such determination.

 

Section 13. Presumptions and Effect of
Certain Proceedings.

 

(a) In making a
determination with respect to entitlement to indemnification hereunder, the person or persons or entity making such determination will,
to the fullest extent not prohibited by law, presume Indemnitee is entitled to indemnification under this Agreement if Indemnitee has
submitted a request for indemnification in accordance with Section 11(a) of this Agreement, and the Company will, to the fullest
extent not prohibited by law, have the burden of proof to overcome that presumption. Neither the failure of the Company (including by
its directors or Independent Counsel) to have made a determination prior to the commencement of any action pursuant to this Agreement
that indemnification is proper in the circumstances because Indemnitee has met the applicable standard of conduct, nor an actual determination
by the Company (including by its directors or Independent Counsel) that Indemnitee has not met such applicable standard of conduct, will
be a defense to the action or create a presumption that Indemnitee has not met the applicable standard of conduct.

 

    6

     

    

 

(b) If the determination
of the Indemnitee’s entitlement to indemnification has not been made pursuant to Section 12 within sixty (60) days after
the later of (i) receipt by the Company of Indemnitee’s request for indemnification pursuant to Section 11(a) and (ii) the
final disposition of the Proceeding for which Indemnitee requested Indemnification (the “Determination Period”), the requisite
determination of entitlement to indemnification will, to the fullest extent not prohibited by law, be deemed to have been made and Indemnitee
will be entitled to such indemnification, absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material
fact necessary to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification, or
(ii) a prohibition of such indemnification under applicable law. The Determination Period may be extended for a reasonable time,
not to exceed an additional thirty (30) days, if the person, persons or entity making the determination with respect to entitlement
to indemnification in good faith requires such additional time for the obtaining or evaluating of documentation and/or information relating
thereto; and provided, further, the Determination Period may be extended an additional fifteen (15) days if the determination of
entitlement to indemnification is to be made by the stockholders pursuant to Section 12(a)(iv) of this Agreement.

 

(c) The termination
of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon a plea of nolo contendere
or its equivalent, will not (except as otherwise expressly provided in this Agreement) of itself adversely affect the right of Indemnitee
to indemnification or create a presumption that Indemnitee did not act in good faith and in a manner which Indemnitee reasonably believed
to be in or not opposed to the best interests of the Company or, with respect to any criminal Proceeding, that Indemnitee had reasonable
cause to believe that Indemnitee’s conduct was unlawful.

 

(d) For purposes
of any determination of good faith, Indemnitee will be deemed to have acted in good faith if Indemnitee acted based on the records or
books of account of the Company, its subsidiaries, or an Enterprise, including financial statements, or on information supplied to Indemnitee
by the directors or officers of the Company, its subsidiaries, or an Enterprise in the course of their duties, or on the advice of legal
counsel for the Company, its subsidiaries, or an Enterprise or on information or records given or reports made to the Company or an Enterprise
by an independent certified public accountant or by an appraiser, financial advisor or other expert selected with reasonable care by or
on behalf of the Company, its subsidiaries, or an Enterprise. Further, Indemnitee will be deemed to have acted in a manner “not
opposed to the best interests of the Company,” as referred to in this Agreement if Indemnitee acted in good faith and in a manner
Indemnitee reasonably believed to be in the best interests of the participants and beneficiaries of an employee benefit plan. The provisions
of this Section 13(d) are not exclusive and do not limit in any way the other circumstances in which the Indemnitee may be deemed
to have met the applicable standard of conduct set forth in this Agreement.

 

(e) The knowledge
and/or actions, or failure to act, of any director, officer, trustee, partner, managing member, fiduciary, agent or employee of the Enterprise
may not be imputed to Indemnitee for purposes of determining Indemnitee’s right to indemnification under this Agreement.

 

Section 14. Remedies of Indemnitee.

 

(a) Indemnitee may
commence litigation against the Company in the Delaware Court of Chancery to obtain indemnification or advancement of Expenses provided
by this Agreement in the event that (i) a determination is made pursuant to Section 12 of this Agreement that Indemnitee is
not entitled to indemnification under this Agreement, (ii) the Company does not advance Expenses pursuant to Section 10 of this
Agreement, (iii) the determination of entitlement to indemnification is not made pursuant to Section 12 of this Agreement within
the Determination Period, (iv) the Company does not indemnify Indemnitee pursuant to Section 5 or 6 or the second to last sentence
of Section 12(d) of this Agreement within thirty (30) days after receipt by the Company of a written request therefor, (v) the
Company does not indemnify Indemnitee pursuant to Section 3, 4, 7, or 8 of this Agreement within thirty (30) days after a determination
has been made that Indemnitee is entitled to indemnification, or (vi) in the event that the Company or any other person takes or
threatens to take any action to declare this Agreement void or unenforceable, or institutes any litigation or other action or Proceeding
designed to deny, or to recover from, the Indemnitee the benefits provided or intended to be provided to the Indemnitee hereunder. Alternatively,
Indemnitee, at Indemnitee’s option, may seek an award in arbitration to be conducted by a single arbitrator pursuant to the Commercial
Arbitration Rules of the American Arbitration Association. Indemnitee must commence such Proceeding seeking an adjudication or an award
in arbitration within one hundred and eighty (180) days following the date on which Indemnitee first has the right to commence such
Proceeding pursuant to this Section 14(a); provided, however, that the foregoing clause does not apply in respect of
a Proceeding brought by Indemnitee to enforce Indemnitee’s rights under Section 5 of this Agreement. The Company will not oppose
Indemnitee’s right to seek any such adjudication or award in arbitration.

 

    7

     

    

 

(b) If a determination
is made pursuant to Section 12 of this Agreement that Indemnitee is not entitled to indemnification, any judicial proceeding or arbitration
commenced pursuant to this Section 14 will be conducted in all respects as a de novo trial, or arbitration, on the merits
and Indemnitee may not be prejudiced by reason of that adverse determination. In any judicial proceeding or arbitration commenced pursuant
to this Section 14 the Company will have the burden of proving Indemnitee is not entitled to indemnification or advancement of Expenses,
as the case may be, and will not introduce evidence of the determination made pursuant to Section 12 of this Agreement.

 

(c) If a determination
is made pursuant to Section 12 of this Agreement that Indemnitee is entitled to indemnification, the Company will be bound by such
determination in any judicial proceeding or arbitration commenced pursuant to this Section 14, absent (i) a misstatement by
Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading,
in connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable law.

 

(d) The Company
is, to the fullest extent not prohibited by law, precluded from asserting in any judicial proceeding or arbitration commenced pursuant
to this Section 14 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and will stipulate
in any such court or before any such arbitrator that the Company is bound by all the provisions of this Agreement.

 

(e) It is the intent
of the Company that, to the fullest extent permitted by law, the Indemnitee not be required to incur legal fees or other Expenses associated
with the interpretation, enforcement or defense of Indemnitee’s rights under this Agreement by litigation or otherwise because the
cost and expense thereof would substantially detract from the benefits intended to be extended to the Indemnitee hereunder. The Company,
to the fullest extent permitted by law, will (within thirty (30) days after receipt by the Company of a written request therefor)
advance to Indemnitee such Expenses which are incurred by Indemnitee in connection with any action concerning this Agreement, Indemnitee’s
right to indemnification or advancement of Expenses from the Company, or concerning any directors’ and officers’ liability
insurance policies maintained by the Company, and will indemnify Indemnitee against any and all such Expenses unless the court determines
that each of the Indemnitee’s claims in such action were made in bad faith or were frivolous or are prohibited by law.

 

Section 15. Non-exclusivity; Survival of
Rights; Insurance; Subrogation.

 

(a) The indemnification
and advancement of Expenses provided by this Agreement are not exclusive of any other rights to which Indemnitee may at any time be entitled
under applicable law, the Certificate of Incorporation, the Bylaws, any agreement, a vote of stockholders or a resolution of directors,
or otherwise. The indemnification and advancement of Expenses provided by this Agreement may not be limited or restricted by any amendment,
alteration or repeal of this Agreement in any way with respect to any action taken or omitted by Indemnitee in Indemnitee’s Corporate
Status occurring prior to any amendment, alteration or repeal of this Agreement. To the extent that a change in Delaware law, whether
by statute or judicial decision, permits greater indemnification or advancement of Expenses than would be afforded currently under the
Bylaws, Certificate of Incorporation, or this Agreement, it is the intent of the parties hereto that Indemnitee enjoy by this Agreement
the greater benefits so afforded by such change. No right or remedy herein conferred is intended to be exclusive of any other right or
remedy, and every other right and remedy is cumulative and in addition to every other right and remedy given hereunder or now or hereafter
existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, will not prevent
the concurrent assertion or employment of any other right or remedy.

 

    8

     

    

 

(b) The Company
hereby acknowledges that Indemnitee may have certain rights to indemnification, advancement of Expenses and/or insurance provided by one
or more other Persons with whom or which Indemnitee may be associated. The relationship between the Company and such other Persons, other
than an Enterprise, with respect to the Indemnitee’s rights to indemnification, advancement of Expenses, and insurance is described
by this subsection, subject to the provisions of subsection (d) of this Section 16 with respect to a Proceeding concerning Indemnitee’s
Corporate Status with an Enterprise.

 

i. The Company hereby
acknowledges and agrees:

 

1) the Company is
the indemnitor of first resort with respect to any request for indemnification or advancement of Expenses made pursuant to this Agreement
concerning any Proceeding;

 

2) the Company is
primarily liable for all indemnification and indemnification or advancement of Expenses obligations for any Proceeding, whether created
by law, organizational or constituent documents, contract (including this Agreement) or otherwise;

 

3) any obligation
of any other Persons with whom or which Indemnitee may be associated to indemnify Indemnitee and/or advance Expenses to Indemnitee in
respect of any proceeding are secondary to the obligations of the Company’s obligations;

 

4) the Company will
indemnify Indemnitee and advance Expenses to Indemnitee hereunder to the fullest extent provided herein without regard to any rights Indemnitee
may have against any other Person with whom or which Indemnitee may be associated or insurer of any such Person; and

 

ii. the Company
irrevocably waives, relinquishes and releases (A) any other Person with whom or which Indemnitee may be associated from any claim
of contribution, subrogation, reimbursement, exoneration or indemnification, or any other recovery of any kind in respect of amounts paid
by the Company to Indemnitee pursuant to this Agreement and (B) any right to participate in any claim or remedy of Indemnitee against
any Person, whether or not such claim, remedy or right arises in equity or under contract, statute or common law, including, without limitation,
the right to take or receive from any Person, directly or indirectly, in cash or other property or by set-off or in any other manner,
payment or security on account of such claim, remedy or right.

 

iii. In the event
any other Person with whom or which Indemnitee may be associated or their insurers advances or extinguishes any liability or loss for
Indemnitee, the payor has a right of subrogation against the Company or its insurers for all amounts so paid which would otherwise be
payable by the Company or its insurers under this Agreement. In no event will payment by any other Person with whom or which Indemnitee
may be associated or their insurers affect the obligations of the Company hereunder or shift primary liability for the Company’s
obligation to indemnify or advance Expenses to any other Person with whom or which Indemnitee may be associated.

 

iv. Any indemnification
or advancement of Expenses provided by any other Person with whom or which Indemnitee may be associated is specifically in excess over
the Company’s obligation to indemnify and advance Expenses or any valid and collectible insurance (including but not limited to
any malpractice insurance or professional errors and omissions insurance) provided by the Company.

 

(c) To the extent that the
Company maintains an insurance policy or policies providing liability insurance for directors, officers, employees, or agents of the Company,
the Company will obtain a policy or policies covering Indemnitee to the maximum extent of the coverage available for any such director,
officer, employee or agent under such policy or policies, including coverage in the event the Company does not or cannot, for any reason,
indemnify or advance Expenses to Indemnitee as required by this Agreement. If, at the time of the receipt of a notice of a claim pursuant
to this Agreement, the Company has director and officer liability insurance in effect, the Company will give prompt notice of such claim
or of the commencement of a Proceeding, as the case may be, to the insurers in accordance with the procedures set forth in the respective
policies. The Company will thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of the Indemnitee,
all amounts payable as a result of such Proceeding in accordance with the terms of such policies. Indemnitee agrees to assist the Company
efforts to cause the insurers to pay such amounts and will comply with the terms of such policies, including selection of approved panel
counsel, if required.

 

    9

     

    

 

(d) The Company’s obligation
to indemnify or advance Expenses hereunder to Indemnitee for any Proceeding concerning Indemnitee’s Corporate Status with an Enterprise
will be reduced by any amount Indemnitee has actually received as indemnification or advancement of Expenses from such Enterprise. The
Company and Indemnitee intend that any such Enterprise (and its insurers) be the indemnitor of first resort with respect to indemnification
and advancement of Expenses for any Proceeding related to or arising from Indemnitee’s Corporate Status with such Enterprise. The
Company’s obligation to indemnify and advance Expenses to Indemnitee is secondary to the obligations the Enterprise or its insurers
owe to Indemnitee. Indemnitee agrees to take all reasonably necessary and desirable action to obtain from an Enterprise indemnification
and advancement of Expenses for any Proceeding related to or arising from Indemnitee’s Corporate Status with such Enterprise.

 

(e) In the event of any payment
made by the Company under this Agreement, the Company will be subrogated to the extent of such payment to all of the rights of recovery
of Indemnitee from any Enterprise or insurance carrier. Indemnitee will execute all papers required and take all action necessary to secure
such rights, including execution of such documents as are necessary to enable the Company to bring suit to enforce such rights.

 

Section 16. Duration
of Agreement. This Agreement continues until and terminates upon the later of: (a) ten (10) years after the date that Indemnitee
ceases to have a Corporate Status or (b) one (1) year after the final termination of any Proceeding then pending in respect of which
Indemnitee is granted rights of indemnification or advancement of Expenses hereunder and of any Proceeding commenced by Indemnitee pursuant
to Section 14 of this Agreement relating thereto. The indemnification and advancement of Expenses rights provided by or granted pursuant
to this Agreement are binding upon and enforceable by the parties hereto and their respective successors and assigns (including any direct
or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business or assets of the Company),
continue as to an Indemnitee who has ceased to be a director, officer, employee or agent of the Company or of any other Enterprise, and
inure to the benefit of Indemnitee and Indemnitee’s spouse, assigns, heirs, devisees, executors and administrators and other legal
representatives.

 

Section 17. Severability.
If any provision or provisions of this Agreement is or are, as applicable, held to be invalid, illegal or unenforceable for any reason
whatsoever: (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including without limitation,
each portion of any Section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not
itself invalid, illegal or unenforceable) will not in any way be affected or impaired thereby and remain enforceable to the fullest extent
permitted by law; (b) such provision or provisions will be deemed reformed to the extent necessary to conform to applicable law and
to give the maximum effect to the intent of the parties hereto; and (c) to the fullest extent possible, the provisions of this Agreement
(including, without limitation, each portion of any Section of this Agreement containing any such provision held to be invalid, illegal
or unenforceable, that is not itself invalid, illegal or unenforceable) will be construed so as to give effect to the intent manifested
thereby.

 

Section 18. Interpretation.
Any ambiguity in the terms of this Agreement will be resolved in favor of Indemnitee and in a manner to provide the maximum indemnification
and advancement of Expenses permitted by law. The Company and Indemnitee intend that this Agreement provide to the fullest extent permitted
by law for indemnification and advancement in excess of that expressly provided, without limitation, by the Certificate of Incorporation,
the Bylaws, vote of the Company stockholders or disinterested directors, or applicable law.

 

Section 19. Enforcement.

 

(a) The Company
expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on it hereby in order to induce
Indemnitee to serve as a director or officer of the Company, and the Company acknowledges that Indemnitee is relying upon this Agreement
in serving or continuing to serve as a director or officer of the Company.

 

(b) This Agreement
constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes all prior agreements
and understandings, oral, written and implied, between the parties hereto with respect to the subject matter hereof; provided, however,
that this Agreement is a supplement to and in furtherance of the Certificate of Incorporation, the Bylaws and applicable law, and is not
a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder.

 

    10

     

    

 

Section 20. Modification
and Waiver. No supplement, modification or amendment of this Agreement is binding unless executed in writing by the parties hereto.
No waiver of any of the provisions of this Agreement will be deemed or constitutes a waiver of any other provisions of this Agreement
nor will any waiver constitute a continuing waiver.

 

Section 21. Notice
by Indemnitee. Indemnitee agrees promptly to notify the Company in writing upon being served with any summons, citation, subpoena,
complaint, indictment, information or other document relating to any Proceeding or matter which may be subject to indemnification or advancement
of Expenses covered hereunder. The failure of Indemnitee to so notify the Company does not relieve the Company of any obligation which
it may have to the Indemnitee under this Agreement or otherwise.

 

Section 22. Notices.
All notices, requests, demands and other communications under this Agreement will be in writing and will be deemed to have been duly given
if (a) delivered by hand to the other party, (b) sent by reputable overnight courier to the other party or (c) sent by
facsimile transmission or electronic mail, with receipt of oral confirmation that such communication has been received:

 

(a) If to Indemnitee,
at the address indicated on the signature page of this Agreement, or such other address as Indemnitee provides to the Company.

 

(b) If to the Company
to:

 

Appgate, Inc.: 

BAC Colonnade Office Towers 

2333 Ponce de Leon, Suite 900 

Coral Gables, FL 33134 

Attention: Jeremy M. Dale, General Counsel 

Email:
                                  

 

or to any other
address as may have been furnished to Indemnitee by the Company.

 

Section 23. Contribution.
To the fullest extent permissible under applicable law, if the indemnification provided for in this Agreement is unavailable to Indemnitee
for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, will contribute to the amount incurred by Indemnitee, whether
for judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or for Expenses, in connection with any claim
relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in light of all of the circumstances
of such Proceeding in order to reflect (i) the relative benefits received by the Company and Indemnitee as a result of the event(s)
and/or transaction(s) giving cause to such Proceeding; and/or (ii) the relative fault of the Company (and its directors, officers,
employees and agents) and Indemnitee in connection with such event(s) and/or transaction(s).

 

Section 24. Applicable
Law and Consent to Jurisdiction. This Agreement and the legal relations among the parties are governed by, and construed and enforced
in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules. Except with respect to any arbitration
commenced by Indemnitee pursuant to Section 14(a) of this Agreement, the Company and Indemnitee hereby irrevocably and unconditionally
(i) agree that any action or Proceeding arising out of or in connection with this Agreement may be brought only in the Delaware Court
of Chancery and not in any other state or federal court in the United States of America or any court in any other country, (ii) consent
to submit to the exclusive jurisdiction of the Delaware Court for purposes of any action or Proceeding arising out of or in connection
with this Agreement, (iii) waive any objection to the laying of venue of any such action or Proceeding in the Delaware Court, and
(iv) waive, and agree not to plead or to make, any claim that any such action or Proceeding brought in the Delaware Court has been
brought in an improper or inconvenient forum.

 

Section 25. Identical
Counterparts. This Agreement may be executed in one or more counterparts, each of which will for all purposes be deemed to be an original
but all of which together constitutes one and the same Agreement. Only one such counterpart signed by the party against whom enforceability
is sought needs to be produced to evidence the existence of this Agreement.

 

Section 26. Headings.
The headings of this Agreement are inserted for convenience only and do not constitute part of this Agreement or affect the construction
thereof.

 

[Signature page follows]

 

    11

     

    

 

IN WITNESS WHEREOF, the parties have caused this Agreement to be signed
as of the day and year first above written.

 

	APPGATE, INC.
	 
	 	 	 
	By: 	        	 
	Name:	 	 
	Title:	 	 
	 	 	 
	INDEMNITEE	 
	 	 	 
	By: 	 	 
	Name:	 	 
	Address: 	 	 
	 	 	 
		 	 
	 	 	 

 

 

 

12

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