Document:

Exhibit 10.3

 

HELIX TCS, INC.

RIGHT
OF FIRST REFUSAL AND CO-SALE AGREEMENT

 

This
Right of First Refusal and Co-Sale Agreement (this “Agreement”) is made and entered into as
of May 17, 2017, by and among Helix TCS, Inc., a Delaware corporation (the
“Company”), those certain holders of the Company’s Series A Preferred and Common Stock listed on
Exhibit A attached hereto (the “Key Holders”)
and the persons and entities listed on Exhibit B attached hereto (the
“Investors”).

 

Recitals

 

Whereas,
the Key Holders (or their affiliates) are beneficial owners of shares of the Company’s Common Stock; and

 

Whereas,
certain of the Key Holders hold shares of the Company’s Series A Preferred Stock (the “Series A Preferred”);
and

 

WHEREAS, one of the
Investors, RSF4, LLC, a Delaware limited liability company (“Rose Capital”), concurrent with the execution
of this Agreement, is purchasing shares of the Company’s Series B Preferred Stock (the “Series B Preferred”,
together with the Series A Preferred, the “Preferred”) pursuant to that certain Series B Preferred Stock
Purchase Agreement of even date herewith (the “Purchase Agreement”), by and among the Company and Rose
Capital; and

 

WHEREAS,
the Company, the Key Holders and Rose Capital desire to enter into this Agreement to provide Rose Capital with the rights
and privileges set forth herein.

 

Agreement

 

Now,
Therefore, in consideration of these premises and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties agree hereto as follows:

 

	1.	Definitions.

 

Unless otherwise defined
herein, capitalized terms used in this Agreement shall have the following meanings:

 

1.1          “Charter” means the Company’s Certificate of Incorporation as it may be amended and restated
from time to time as permitted thereby.

 

1.2          “Common Stock” means shares of the Company’s common stock, par value $0.001 per share, including shares
issued or issuable upon conversion of the Company’s outstanding Preferred or exercise of any option, warrant or other security
or right of any kind convertible into or exchangeable for such common stock.

 

     

     

    

 

1.3          “Investor Stock” means the shares of Common Stock now owned or subsequently acquired by the Investors whether
or not such securities are only registered in an Investor’s name or beneficially or otherwise legally owned by such Investor.

 

1.4          “Key Holder Stock” means shares of Preferred and Common Stock now owned or subsequently acquired by the
Key Holders by gift, purchase, dividend, option exercise or any other means whether or not such securities are registered in a
Key Holder’s name or beneficially or legally owned by such Key Holder, including any interest of a spouse in any of the Key
Holder Stock, whether that interest is asserted pursuant to marital property laws or otherwise. The number of shares of Key Holder
Stock owned by the Key Holders as of the date hereof are set forth on Exhibit A,
which Exhibit may be amended from time to time by the Company to reflect changes in the number of shares owned by the Key Holders,
but the failure to so amend shall have no effect on such Key Holder Stock being subject to this Agreement.

 

1.5          “Major Investor” means an Investor that holds not less than five percent (5%) of the outstanding shares
of the Preferred (or an equivalent amount of Common Stock issued upon conversion of the Preferred).

 

1.6          “Transfer” means any sale, assignment, encumbrance, hypothecation, pledge, conveyance in trust, gift, transfer
by request, devise or descent, or other transfer or disposition of any kind, including, but not limited to, transfers to receivers,
levying creditors, trustees or receivers in bankruptcy proceedings or general assignees for the benefit of creditors, whether voluntary
or by operation of law, directly or indirectly, of any of the Key Holder Stock.

 

	2.	Transfers by a Key Holder.

 

2.1          Notice of Transfer. If a Key Holder proposes to Transfer any shares of Key Holder
Stock, the Key Holder shall promptly give written notice (the “Notice”) simultaneously to the Company
and to each of the Major Investors at least thirty (30) days prior to the closing of such Transfer. The Notice shall describe in
reasonable detail the proposed Transfer including, without limitation, the number of shares of Key Holder Stock to be transferred,
the nature of such Transfer, the consideration to be paid, and the name and address of each prospective purchaser or transferee,
and will include any term sheet, letter of intent, or similar documentation between the applicable Key Holder and the prospective
purchaser or transferee with respect to the proposed transaction. In the event that the Transfer is being made pursuant to the
provisions of Section 3.1 hereof, the Notice shall state under which clause of such Section the Key Holder proposes to make
such Transfer.

 

2.2          Major Investor Right of First Refusal.

 

(a)         For a period of thirty (30) days following receipt of any Notice described in Section 2.1, each Major Investor shall have the
right, exercisable upon written notice to the Key Holder to purchase its pro rata share of the Key Holder Stock subject
to the Notice and on the same terms and conditions as set forth therein. Except as set forth in Section 2.2(c), the Major Investors
who so exercise their rights (the “Participating Major Investors”) shall effect the purchase of the Key
Holder Stock, including payment of the purchase price, by the later of (i) the date specified in the Notice as the intended date
of the Transfer and (ii) sixty (60) days after delivery of the Notice, and at such time the Key Holder shall deliver to the Participating
Major Investors the certificate(s) representing the Key Holder Stock to be purchased by the Participating Major Investors, each
certificate to be properly endorsed for transfer.

 

    	 	2	 

     

    

 

(b)         Each Major Investor’s pro rata share shall be equal to the product obtained by multiplying (i) the aggregate number of
shares of Key Holder Stock covered by the Notice, and (ii) a fraction, the numerator of which is the number of shares of Common
Stock owned by the Participating Major Investor at the time of the Transfer and the denominator of which is the total number of
shares of Common Stock owned by all of the Major Investors at the time of the Transfer.

 

(c)         In the event that not all of the Major Investors elect to purchase their pro rata share of the Key Holder Stock available pursuant
to their rights under Section 2.2(a) within the time period set forth therein, then the Key Holder shall promptly give written
notice to each of the Participating Major Investors the (the “Overallotment Notice”), which shall set
forth the number of shares of Key Holder Stock not purchased by the other Major Investors, and shall offer such Participating Major
Investors the right to acquire such unsubscribed shares. The Participating Major Investors shall have five (5) days after receipt
of the Overallotment Notice to deliver a written notice to the Key Holder of their respective election to purchase their respective
pro rata share of the unsubscribed shares on the same terms and conditions as set forth in the Notice. For purposes of this Section
2.2(c) the denominator described in clause (ii) of subsection 2.2(b) above shall be the total number of shares of Common Stock
owned by all Participating Major Investors at the time of Transfer. The Participating Major Investors shall then effect the purchase
of the Key Holder Stock, including payment of the purchase price, by the later of (i) the date specified in the Notice as the intended
date of the Transfer and (ii) thirty (30) days after delivery of the Notice, and at such time, the Key Holder shall deliver to
the Participating Major Investors the certificates representing the Key Holder Stock to be purchased by the Participating Major
Investors, each certificate to be properly endorsed for transfer.

 

2.3          Company Right of First Refusal. In the event that the Major Investors do not
elect to purchase all of the Key Holder Stock available pursuant to their rights under Section 2.2, within the periods set
forth therein, the Key Holder shall promptly give written notice (the “Second Notice”) to the Company,
which shall set forth the number of shares of Key Holder Stock not purchased by the Major Investors, and which shall include the
terms of Notice set forth in Section 2.1. The Company shall then have the right, exercisable upon written notice to the Key
Holder within ten (10) days after the receipt of the Second Notice, to purchase all or a portion of the Key Holder Stock subject
to the Second Notice on the same terms and conditions as set forth therein. The Company shall effect the purchase of the Key Holder
Stock, including payment of the purchase price, by the later of (i) the date specified in the Second Notice as the intended date
of the Transfer or (ii) thirty (30) days after delivery of the Second Notice, and at such time the Key Holder shall deliver to
the Company the certificate(s) representing the Key Holder Stock to be purchased by the Company, each certificate to be properly
endorsed for transfer. The Key Holder Stock so purchased shall thereupon be cancelled and cease to be issued and outstanding shares
of Common Stock.

 

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2.4          Right of Co-Sale.

 

(a)         In the event the Major Investors and the Company fail to exercise their respective rights to purchase all of the Key Holder
Stock subject to Sections 2.2 and 2.3 hereof, following the exercise or expiration of the rights of purchase set forth in
Section 2.3, then the Key Holder shall first deliver to the Company and each Major Investor written notice (the “Co-Sale
Notice”) that each Major Investor shall have the right, exercisable upon written notice to such Key Holder with a
copy to the Company within fifteen (15) days after receipt of the Co-Sale Notice, to participate in such Transfer of Key Holder
Stock on the same terms and conditions. Such notice shall indicate the number of shares of Investor Stock up to that number of
shares determined under Section 2.4(b) such Major Investor wishes to sell under his or her right to participate. To the extent
one or more of the Major Investors exercise such right of participation in accordance with the terms and conditions set forth below,
the number of shares of Key Holder Stock that such Key Holder may sell in the transaction shall be correspondingly reduced.

 

(b)         Each Major Investor shall have the right to sell all or any part of that number of shares equal to the product obtained by
multiplying (i) the aggregate number of shares of Key Holder Stock covered by the Co-Sale Notice and not purchased by the
Major Investors or the Company pursuant to Sections 2.2 or 2.3 by (ii) a fraction, the numerator of which is the number of
shares of Common Stock owned (or deemed to be owned upon conversion of the Preferred) by such Major Investor at the time of the
Transfer and the denominator of which is the total number of shares of Common Stock owned (or deemed to be owned upon conversion
of the Preferred) by such Key Holder (excluding shares purchased by the Major Investors or the Company pursuant to Sections 2.2
or 2.3) and the Major Investors at the time of the Transfer. If not all of the Major Investors elect to sell their shares of capital
stock proposed to be transferred within said fifteen (15) day period, then the Key Holder shall promptly notify in writing the
Major Investors who do so elect and shall offer such Major Investors the additional right to participate in the sale of such additional
shares of Key Holder Stock proposed to be transferred on the same percentage basis as set forth above in this subsection 2.4(b).
The Major Investors shall have five (5) days after receipt of such notice to notify the Key Holder in writing with a copy to the
Company of their respective election to sell all or a portion thereof of the unsubscribed shares.

 

(c)         Each Major Investor who elects to participate in the Transfer pursuant to this Section 2.4 (a “Co-Sale Participant”)
shall effect its participation in the Transfer by promptly delivering to such Key Holder, for transfer to the prospective purchaser,
one or more certificates, properly endorsed for transfer, which represent:

 

(i)        the type and number of shares of Common Stock which such Co-Sale Participant elects to sell; or

 

(ii)       that number of shares of the Preferred which is at such time convertible into the number of shares of Common Stock which such
Co-Sale Participant elects to sell; provided, however, that if the prospective purchaser objects to the delivery of the
Preferred in lieu of Common Stock, such Co-Sale Participant shall convert such Preferred into Common Stock and deliver Common Stock
as provided in Section 2.4(c)(i) above. The Company agrees to make any such conversion concurrent with the actual transfer
of such shares to the purchaser.

 

    	 	4	 

     

    

 

(d)         The stock certificate or certificates that the Co-Sale Participant delivers to such Key Holder pursuant to Section 2.4(c)
shall be transferred to the prospective purchaser in consummation of the sale of the Common Stock pursuant to the terms and conditions
specified in the Co-Sale Notice, and the Key Holder shall concurrently therewith remit to such Co-Sale Participant that portion
of the sale proceeds to which such Co-Sale Participant is entitled by reason of its participation in such sale. To the extent that
any prospective purchaser or purchasers prohibits such assignment or otherwise refuses to purchase shares or other securities from
a Co-Sale Participant exercising its rights of co-sale hereunder, such Key Holder shall not sell to such prospective purchaser
or purchasers any Key Holder Stock unless and until, simultaneously with such sale, such Key Holder shall purchase such shares
or other securities from such Co-Sale Participant on the same terms and conditions specified in the Co-Sale Notice.

 

(e)         The exercise or non-exercise of the rights of the Major Investors hereunder to participate in one or more Transfers of Key
Holder Stock made by such Key Holder shall not adversely affect their rights to participate in subsequent Transfers of Key Holder
Stock subject to Section 2.

 

(f)          To the extent that the Major Investors do not elect to participate in the sale of the Key Holder Stock subject to the Co-Sale
Notice, such Key Holder may, not later than ninety (90) days following delivery to the Company of the Co-Sale Notice, enter into
an agreement providing for the closing of the Transfer of such Key Holder Stock covered by the Co-Sale Notice within thirty (30)
days of such agreement on terms and conditions not more materially favorable to the transferor than those described in the Co-Sale
Notice. Any proposed Transfer on terms and conditions materially more favorable than those described in the Co-Sale Notice, as
well as any subsequent proposed Transfer of any of the Key Holder Stock by a Key Holder, shall again be subject to the first refusal
and co-sale rights of the Major Investors and/or the Company and shall require compliance by a Key Holder with the procedures described
in this Section 2.

 

	3.	Exempt Transfers.

 

3.1          Registered Stock; Estate Planning; Equity Owners. Notwithstanding the foregoing,
the provisions of Section 2 shall not apply to (a) the sale of any Key Holder Stock to the public pursuant to a registration
statement (each, a “Registration Statement Sale”) filed with, and declared effective by, the Securities
and Exchange Commission under the Securities Act of 1933, as amended (the “Securities Act”), or (b) to
any Transfer (i) that is a conveyance in trust, gift or devise or descent of any Common Stock by a Key Holder to any family member,
without consideration and for estate planning purposes, (ii) to any person occurring as a matter of law upon the death or declaration
of incompetence of a Key Holder so long as the transferee agrees in writing to be bound by this Agreement as though an original
Key Holder party hereto, (iii) to the Company, (iv) by merger or share exchange or an exchange of existing shares for other shares
of the same or a different class or series in the Company, or (v) to any equity owner (partner, shareholder, member or the like)
of any Key Holder that is an “accredited investor”, as that term is defined in Rule 501 of Regulation D,
as promulgated under the Securities Act.

 

    	 	5	 

     

    

 

3.2          No Transfers to Bad Actors3.3.
Notwithstanding the foregoing Section 3.1, each Key Holder agrees not to make any sale, assignment, encumbrance, hypothecation,
pledge, conveyance in trust, gift, transfer by bequest, devise or descent, or other transfer or disposition of any kind of any
securities of the Company, or any beneficial interest therein, to any person (other than the Company) if the proposed transferee
or, to the transferee’s knowledge, any of its directors, executive officers, other officers that may serve as a director
or officer of any company in which it invests, general partners or managing members or any person that would be deemed to be beneficial
owner of twenty percent (20%) or more of such securities (in accordance with Rule 506(d) of the Securities Act) is subject
to any of the “bad actor” disqualifications described in Rule 506(d)(1)(i) through (viii) under the Securities Act
(“Bad Actor Disqualifications”), except for Bad Actor Disqualifications covered by Rule 506(d)(2)(ii)
or (iii) or (d)(3) under the Securities Act and disclosed, reasonably in advance of the transfer or disposition, in writing in
reasonable detail to the Company; provided that the provisions of this Section 3.2 shall not apply to any sale or other disposition
pursuant to a Registration Statement Sale or to any sale or other disposition to a beneficial owner of the Company’s Preferred
or Common Stock prior to the date of such sale or other disposition.

 

3.3          Existing Rights. This Agreement is subject to, and shall in no manner limit the
right which the Company may have to repurchase securities from the Key Holder pursuant to (a) a stock restriction agreement
or other agreement between the Company and the Key Holder and (b) any right of first refusal set forth in the bylaws of the
Company or in any incentive stock option, restricted stock or other incentive plan or agreement adopted by the Company for the
benefit of its employees, non-employee directors, contractors and consultants.

 

	4.	Prohibited Transfers.

 

4.1          Call Option. In the event a Key Holder shall Transfer any Key Holder Stock in
contravention of the first refusal rights of the Major Investors under Section 2.2 hereof or the Company under Section 2.3 hereof
(a “Prohibited Transaction”), the Major Investors, first, but only with respect to Transfers in contravention
of Section 2.2, and the Company, second, shall have the option to purchase from the pledgee, purchaser or transferee of the Key
Holder Stock transferred in contravention of Section 2.2 or Section 2.3, as applicable, the number of shares that the Major Investors
or the Company, as applicable, would have been entitled to purchase had such Prohibited Transaction been effected in accordance
with Section 2.2 or Section 2.3, on the following terms and conditions:

 

(a)         The price per share at which the shares are to be purchased by the Major Investors or the Company, as the case may be, shall
be equal to the price per share paid to such Key Holder by the third party purchaser or purchasers of such Key Holder Stock that
is subject to the Prohibited Transaction; and

 

(b)         The Key Holder effecting such Prohibited Transaction shall reimburse the Major Investors and the Company for any expenses,
including legal fees and expenses, incurred in effecting such purchase.

 

    	 	6	 

     

    

 

4.2          Put Option. In the event a Key Holder shall Transfer any Key Holder Stock in
contravention of the co-sale rights of the Major Investors under Section 2.4 hereof (a “Prohibited Transfer”),
each Major Investor, in addition to such other remedies as may be available at law, in equity or hereunder, shall have the right
to sell to such Key Holder the type and number of shares of Common Stock equal to the number of shares each Major Investor would
have been entitled to transfer to the purchaser under Section 2.4 hereof had the Prohibited Transfer been effected pursuant
to and in compliance with the terms hereof. Such sale shall be made on the following terms and conditions:

 

(a)         The price per share at which the shares are to be sold to the Key Holder shall be equal to the price per share paid by the
purchaser to such Key Holder in such Prohibited Transfer. The Key Holder shall also reimburse each Major Investor for any and all
fees and expenses, including legal fees and expenses, incurred in connection with the exercise or the attempted exercise of the
Major Investor’s rights under Section 2.4 hereof.

 

(b)         Within ninety (90) days after the date on which a Major Investor received notice of the Prohibited Transfer or otherwise became
aware of the Prohibited Transfer, such Major Investor shall, if exercising the option created hereby, deliver to the Key Holder
the certificate or certificates representing the shares to be sold, each certificate to be properly endorsed for transfer.

 

(c)         Such Key Holder shall, upon receipt of the certificate or certificates for the shares to be sold by a Major Investor, pursuant
to this Section 4.2, pay the aggregate purchase price therefor and the amount of reimbursable fees and expenses, as specified
in Section 4.2(a), in cash or by other means acceptable to the Major Investor.

 

(d)         Notwithstanding the foregoing, any attempt by a Key Holder to Transfer Key Holder Stock in violation of Section 2 hereof
shall be voidable at the option of a majority in interest of the Major Investors if a majority in interest of the Major Investors
do not elect to exercise the put option set forth in this Section 4.2, and the Company agrees it will not effect such a transfer
nor will it treat any alleged transferee as the holder of such shares without the written consent of a majority in interest of
the Major Investors.

 

	5.	Legend.

 

5.1          Text. Each certificate representing
shares of Key Holder Stock (including, without limitation, such shares of Key Holder Stock issued to any person in connection with
a Transfer pursuant to Section 3.1 hereof) shall be stamped or otherwise imprinted with the following restrictive legend (the “Legend”):

 

“THE SALE, PLEDGE, HYPOTHECATION
OR TRANSFER OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE IS SUBJECT TO THE TERMS AND CONDITIONS OF A CERTAIN RIGHT OF FIRST
REFUSAL AND CO-SALE AGREEMENT BY AND BETWEEN THE STOCKHOLDER, THE COMPANY AND CERTAIN HOLDERS OF STOCK OF THE COMPANY. COPIES OF
SUCH AGREEMENT MAY BE OBTAINED UPON WRITTEN REQUEST TO THE SECRETARY OF THE COMPANY.”

 

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5.2          Restrictions and Removal. During
the term of this Agreement, the Company shall not remove, and shall not permit to be removed (upon registration of transfer, re-issuance
of otherwise), the Legend from any such certificate and shall place or cause to be placed the Legend on any new certificate issued
to represent Key Holder Stock theretofore represented by a certificate carrying the Legend. The Key Holders agree that the Company
shall instruct its transfer agent to impose transfer restrictions on the shares represented by certificates bearing the Legend
to enforce the provisions of this Agreement, and the Company agrees to promptly do so. The Legend shall be removed upon termination
of this Agreement.

 

	6.	Miscellaneous.

 

6.1          Conditions to Exercise of Rights. Exercise of the Investors’ rights under
this Agreement shall be subject to and conditioned upon, and the Key Holders and the Company shall use their best efforts to assist
each Investor in, compliance with applicable laws.

 

6.2          Governing Law; Consent to Jurisdiction; Waiver of Jury Trial. This Agreement
shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to its principles of conflicts
of laws. Each of the parties hereto irrevocably submits to the exclusive jurisdiction of the courts of the State of Delaware located
in Wilmington and the United States District Court for the District of Delaware for the purpose of any suit, action, proceeding
or judgment relating to or arising out of this Agreement and the transactions contemplated hereby.  Service of process in
connection with any such suit, action or proceeding may be served on each party hereto anywhere in the world by the same methods
as are specified for the giving of notices under this Agreement.  Each of the parties hereto irrevocably consents to the jurisdiction
of any such court in any such suit, action or proceeding and to the laying of venue in such court.  Each party hereto irrevocably
waives any objection to the laying of venue of any such suit, action or proceeding brought in such courts and irrevocably waives
any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum.  EACH
OF THE PARTIES HERETO WAIVES ANY RIGHT TO REQUEST A TRIAL BY JURY IN ANY LITIGATION WITH RESPECT TO THIS AGREEMENT AND REPRESENTS
THAT COUNSEL HAS BEEN CONSULTED SPECIFICALLY AS TO THIS WAIVER.

 

6.3          Amendment. Any provision of this Agreement may be amended and the observance
thereof may be waived (either generally or in a particular instance and either retroactively or prospectively), only by the written
consent of (i) as to the Company, only by the Company, (ii) as to the Major Investors, by a majority in interest of the
Major Investors, and their assignees pursuant to Section 6.4 hereof, and (iii) as to the Key Holders, by a majority in interest
of the Key Holders; provided, that no consent of any Key Holder shall be necessary for any amendment and/or restatement which includes
additional holders of the Preferred or other preferred stock of the Company as “Investors” and parties
hereto. Any amendment or waiver effected in accordance with clauses (i), (ii) and (iii) of this Section 6.3 shall be binding
upon each Investor their successors and assigns, the Company and the Key Holders.

 

6.4          Binding Effect. This Agreement and the rights and obligations of the parties
hereunder shall inure to the benefit of, and be binding upon, their respective successors, assigns and legal representatives.

 

    	 	8	 

     

    

 

6.5          Term. This Agreement shall continue in full force and effect from the date hereof
through the earliest of the following dates, on which date it shall terminate in its entirety:

 

(a)         the date of the closing of a firmly underwritten public offering of the Common Stock pursuant to a registration statement filed
with the Securities and Exchange Commission, and declared effective under the Securities Act;

 

(b)         the date of the closing of a sale, lease, or other disposition of all or substantially all of the Company’s assets or
the Company’s merger into or consolidation with any other corporation or other entity, or any other corporate reorganization,
in which the holders of the Company’s outstanding voting stock immediately prior to such transaction own, immediately after
such transaction, securities representing less than fifty percent (50%) of the voting power of the corporation or other entity
surviving such transaction; provided, however, that this Section 6.5(b) shall not apply to a merger effected exclusively
for the purpose of changing the domicile of the Company; or

 

(c)         the date as of which the parties hereto terminate this Agreement by written consent of the Company, a majority in interest
of the Major Investors and a majority in interest of the Key Holders.

 

6.6          Ownership. The Key Holders represent and warrant that each is the sole legal
and beneficial owner of those shares of Key Holder Stock he or she currently holds subject to the Agreement and that no other person
has any interest (other than a community property interest) in such shares.

 

6.7          Notices. All notices required or permitted hereunder shall be in writing and
shall be deemed effectively given: (i) upon personal delivery to the party to be notified, (ii) when sent by confirmed
electronic mail or facsimile if sent during normal business hours of the recipient; if not, then on the next business day, (iii) five
(5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (iv) one (1)
day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt.
All communications shall be sent to the party to be notified at the address as set forth on the Exhibits hereto, or at such other
address as such party may designate by ten (10) days advance written notice to the other parties hereto.

 

6.8          Severability. In the event one or more of the provisions of this Agreement should,
for any reason, be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality, or unenforceability
shall not affect any other provisions of this Agreement, and this Agreement shall be construed as if such invalid, illegal or unenforceable
provision had never been contained herein.

 

6.9          Attorneys’ Fees. In the event that any suit or action is instituted to
enforce any provision in this Agreement, the prevailing party in such dispute shall be entitled to recover from the losing party
all fees, costs and expenses of enforcing any right of such prevailing party under or with respect to this Agreement, including
without limitation, such reasonable fees and expenses of attorneys and accountants, which shall include, without limitation, all
fees, costs and expenses of appeals.

 

    	 	9	 

     

    

 

6.10        Entire Agreement. This Agreement, together with (i) that certain Investor Rights
Agreement by and among the Company and the Investors dated as of the date hereof; (ii) that certain Voting Agreement by and among
the Company, the Key Holders (as defined therein) and the Investors dated as of the date hereof; and (iii) only as to Rose Capital,
that certain Series B Preferred Stock Purchase Agreement of even date herewith constitute the full and entire understanding and
agreement between the parties with regard to the subjects hereof and thereof and no party shall be liable or bound to any other
in any manner by any representations, warranties, covenants and agreements except as specifically set forth herein and therein.

 

6.11        Additional Investors. Notwithstanding anything to the contrary contained herein,
if the Company shall issue additional shares of the Preferred, any purchaser of such shares of the Preferred may become a party
to this Agreement by executing and delivering an additional counterpart signature page to this Agreement and shall be deemed an
“Investor” hereunder.

 

6.12        Counterparts. This Agreement may be executed in two or more counterparts, each
of which shall be deemed an original, but all of which together shall constitute one and the same instrument. This Agreement may
be executed by facsimile signatures or via .pdf signature.

 

Signatures
on the Following Pages

 

    	 	10	 

     

    

 

This Right
of First Refusal and Co-Sale Agreement is hereby executed as of the date first above written.

  

	THE COMPANY:	 
	 	 
	Helix TCS, Inc. 	 
	 	 	 
	By:	 	 
	Name:	Zachary
L. Venegas	 
	Its:	Chief Executive Officer	 

 

	KEY HOLDERS:	 
	 	 
	Helix Opportunities, LLC	 
	 	 	 
	By:	 	 
	Name:	Zachary L. Venegas	 
	Its:	Chief Executive Officer	 

 

	ROSE CAPITAL:	 
	 	 	 
	RSF4, LLC	 
	 	 	 
	By:	                    	 
	 	 	 
	By:	 	 
	Name:	 	 
	Title:	 	 
	 	 	 
	By:	 	 
	Name:	 	 
	Title:	 	 

  

Signature
Page to Right of First Refusal and Co-Sale Agreement of Helix TCS, Inc.Exhibit 10.4

 

HELIX
TCS, INC. 

VOTING
AGREEMENT

 

This
Voting Agreement (this “Agreement”)
is made and entered into as of May 17, 2017, by and among Helix TCS, Inc.,
a Delaware corporation (the “Company”), those certain holders of the Company’s common stock listed
on Exhibit A attached hereto (the “Key Holders”)
and the persons and entities listed on Exhibit B attached hereto (the
“Investors”, together with the Key Holders, the “Stockholders”).

 

Recitals

 

WHEREAS,
the Key Holders are the beneficial holders of shares of the Company’s Common Stock, $0.001 par value per share (the “Common
Stock”); and

 

Whereas,
certain of the Key Holders hold shares of the
Company’s Series A Preferred Stock (the “Series A Preferred”); and

 

WHEREAS,
one of the Investors, RSF4, LLC, a Delaware limited liability company (“Rose Capital”), concurrent with
the execution of this Agreement, is purchasing shares of the Company’s Series B Preferred Stock (the “Series
B Preferred”, together with the Series A Preferred, the “Preferred”), pursuant to the
terms of that certain Series B Preferred Stock Purchase Agreement of even date herewith (the “Purchase Agreement”),
by and among the Company and Rose Capital; and

 

WHEREAS,
the Company, the Key Holders and Rose Capital desire to enter into this agreement to, among other things, designate the composition
of the Board of Directors of the Company (the “Board”) following the consummation of the transactions
contemplated by the Purchase Agreement, in accordance with the terms of this Agreement.

 

Agreement

 

Now,
Therefore, in consideration of these premises
and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows:

 

	1.	Voting.

 

1.1         Key Holder Shares; Investor Shares.

 

(a)          The Key Holders each agree to hold all shares of voting capital stock of the Company registered in their respective names
or beneficially owned by them as of the date hereof and any and all other securities of the Company legally or beneficially acquired
by each of the Key Holders after the date hereof (collectively, the “Key Holder Shares”) subject to,
and to vote the Key Holder Shares in accordance with, the provisions of this Agreement.

 

(b)          The Investors each agree to hold all shares of voting capital stock of the Company (including but not limited to all shares
of the Common Stock now held or issuable upon conversion of the Preferred) registered in their respective names or beneficially
owned by them as of the date hereof and any and all other securities of the Company legally or beneficially acquired by each of
the Investors after the date hereof (collectively, the “Investor Shares”) subject to, and to vote the
Investor Shares in accordance with, the provisions of this Agreement.

 

     

     

    

 

1.2         Manner of Voting. The voting of shares pursuant to this Agreement may be effected
in person, by proxy, by written consent, or in any other manner permitted by applicable law.

 

1.3         Board Size. At all regular or special meetings of the stockholders of the Company
following the date hereof, each of the Company, the Key Holders and the Investors shall take all actions necessary to cause (including
by voting all of the respective Key Holder Shares and Investor Shares held by them (or the holders thereof shall consent pursuant
to an action by written consent of the holders of capital stock of the Company)) the size of the Board to be (2) directors (each
a “Director” and, collectively, the “Directors”); provided that if majority
of the Series B Preferred elect to designate a Series B Director in accordance with Section 1.4(a), then each of the Company,
the Key Holders and the Investors shall cause (including by vote or pursuant to an action by written consent of the holders of
capital stock of the Company) the size of the Board to be increased to three (3) directors.

 

1.4         Election of Directors. On all matters relating to the election of the Directors,
the Key Holders and the Investors agree to vote all Key Holder Shares and Investor Shares held by them (or the holders thereof
shall consent pursuant to an action by written consent of the holders of capital stock of the Company) so as to elect members
of the Board as follows:

 

(a)          At each election of the Directors the Key Holders and the Investors shall vote all of their respective Key Holder Shares and
Investor Shares so as to elect one (1) representative of the Series B Preferred designated in writing by the holders of a majority
of the Series B Preferred (the “Series B Director”). Any vote taken to remove any Director elected pursuant
to this Section 1.4(a), or to fill any vacancy created by the resignation, removal or death of a Director elected pursuant to
this Section 1.4(a), shall also be subject to the provisions of this Section 1.4(a);

 

(b)          At each election of the Directors in which the holders of Common Stock and the Preferred, voting together as a single class,
are entitled to elect the Directors, the Key Holders and the Investors shall vote all of their respective Key Holder Shares and
Investor Shares so as to elect: (i) the individual then-serving as the Chief Executive Officer of the Company, which individual
shall initially be Zachary L. Venegas; and (ii) one (1) director designated by the holders of a majority of the shares of the
Series A Preferred, who shall initially be Paul Hodges. Any vote taken to remove any Director elected pursuant to this Section 1.4(b),
or to fill any vacancy created by the resignation, removal or death of a director elected pursuant to this Section 1.4(b),
shall also be subject to the provisions of this Section 1.4(b).

 

1.5         No Liability for Election of Recommended Director. None of the parties hereto
and no officer, director, stockholder, partner, employee or agent of any party makes any representation or warranty as to the
fitness or competence of the nominee of any party hereunder to serve on the Board by virtue of such party’s execution of
this Agreement or by the act of such party in voting for such nominee pursuant to this Agreement.

 

    	 	2	 

     

    

 

1.6         Legend.

 

(a)          Each certificate representing Key Holder Shares and Investor Shares shall be stamped or otherwise imprinted with the following
restrictive legend (the “Legend”):

 

“THE
SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO THE TERMS AND CONDITIONS OF A VOTING AGREEMENT WHICH PLACES CERTAIN RESTRICTIONS
ON THE VOTING OF THE SHARES REPRESENTED HEREBY. ANY PERSON ACCEPTING ANY INTEREST IN SUCH SHARES SHALL BE DEEMED TO AGREE TO AND
SHALL BECOME BOUND BY ALL THE PROVISIONS OF SUCH AGREEMENT. A COPY OF SUCH VOTING AGREEMENT WILL BE FURNISHED TO THE RECORD HOLDER
OF THIS CERTIFICATE WITHOUT CHARGE UPON WRITTEN REQUEST TO THE COMPANY AT ITS PRINCIPAL PLACE OF BUSINESS.”

 

(b)          During the term of this Agreement, the Company shall not remove, and shall not permit to be removed (upon registration of
transfer, re-issuance of otherwise), the Legend from any such certificate and shall place or cause to be placed the Legend on
any new certificate issued to represent Key Holder Shares or Investor Shares theretofore represented by a certificate carrying
the Legend. The Key Holders and the Investors agree that the Company shall instruct its transfer agent to impose transfer restrictions
on the shares represented by certificates bearing the Legend to enforce the provisions of this Agreement, and the Company agrees
to promptly do so. The Legend shall be removed upon termination of this Agreement.

 

1.7         Successors. The provisions of this Agreement shall be binding upon the successors
in interest to any of the Key Holder Shares or Investor Shares. The Company shall not permit the transfer of any of the Key Holder
Shares or Investor Shares on its books or issue a new certificate representing any of the Key Holder Shares or Investor Shares
unless and until the person to whom such security is to be transferred shall have executed a written agreement, substantially
in the form of this Agreement, pursuant to which such person becomes a party to this Agreement and agrees to be bound by all the
provisions hereof as if such person were a Key Holder or Investor, as applicable.

 

1.8         Other Rights. Except as provided by this Agreement or any other agreement entered
into in connection with the transactions contemplated by the Purchase Agreement, each Key Holder and Investor shall exercise the
full rights of a holder of capital stock of the Company with respect to the Key Holder Shares and the Investor Shares, respectively.

 

1.9         No “Bad Actor” Disqualification. Each party to this Agreement represents
and warrants that:

 

(a)          neither it nor, to its knowledge, any beneficial owner of twenty percent (20%) of the Company’s voting equity securities
(in accordance with Rule 506(d) of the Securities Act) held by such party (“Beneficial Owner”)
is subject to any of the “bad actor” disqualifications described in Rule 506(d)(1)(i) through (viii) under the
Securities Act, except for Disqualification Events covered by Rule 506(d)(2) or (d)(3) under the Securities Act and disclosed
in writing in reasonable detail to the Company and the other parties to this Agreement (“Disqualification Events”);

 

    	 	3	 

     

    

 

(b)          to the extent such party has rights to appoint a Director pursuant to Section 1.4 , it has exercised reasonable care to determine
whether any such Director designee of such party designated under Section 1.4 (each a “Designee”) is
subject to any Disqualification Event;

 

(c)          it has provided the Company and the other parties to this Agreement with any and all information reasonably requested by the
Company to determine, in the exercise of reasonable care, whether any such Designee is subject to any Disqualification Event;

 

(d)          to its knowledge, any information furnished to the Company or the other parties to this Agreement with respect to the potential
applicability of Disqualification Events to any such Designee is true, correct and complete; and

 

(e)          to its knowledge, no Designee chosen by it is subject to a Disqualification Event.

 

1.10      Affiliates. For purposes of this Agreement, an individual, firm, corporation,
partnership, association, limited liability company, trust or any other entity (each a “Person”) shall
be deemed an “Affiliate” of another Person who, directly or indirectly, controls, is controlled by or
is under common control with such Person, including, without limitation, any partner, officer, director, member or employee of
such Person and any venture capital fund now or hereafter existing that is controlled by or under common control with one or more
general partners of or shares the same management company with such Person.

 

	2.	DRAG-ALONG
    RIGHT.

 

2.1         Definitions. A “Sale of the Company” shall mean either:
(a) a transaction or series of related transactions in which a Person, or a group of related Persons, acquires from stockholders
of the Company shares representing more than fifty percent (50%) of the outstanding voting power of the Company (a “Stock
Sale”); or (b) a transaction that qualifies as a “Deemed Liquidation Event” as defined
in the Series B Designation. “Charter” means, collectively, the Company’s Certificate of Incorporation
filed with the Secretary of the State of Delaware on March 13, 2014, an may be amended or restated from time to time, including,
as first amended on May 6, 2014 (in order to correct a misspelling), as further amended on May 6, 2014, as further amended on
October 14, 2015, as further amended on December 28, 2015 pursuant to an amendment which included the Certificate of Designation
of Rights and Privileges of Class A Preferred Convertible Super Majority Voting Stock, and further amended on May 15, 2017 pursuant
to an amendment which included the Certificate of Designations, Preferences and Rights of Series B Preferred Stock, $.001 Par
Value Per Share (the “Series B Designation”).

 

    	 	4	 

     

    

 

2.2         Actions to be Taken. In the event that the Board and the holders of more than
(i) fifty percent (50%) of the Series A Preferred, and (ii) fifty percent (50%) of the Series B Preferred, each voting separately
as a separate class on an as-converted to Common Stock basis (the “Selling Stockholders”), approve a
Sale of the Company in writing, specifying that this Section 2 shall apply to such transaction, then each Stockholder hereby agrees:

 

(a)          if such transaction requires stockholder approval, with respect to all shares that such Stockholder owns or over which such
Stockholder otherwise exercises voting power, to vote (in person, by proxy or by action by written consent, as applicable) all
shares in favor of, and adopt, such Sale of the Company and to vote in opposition to any and all other proposals that could delay
or impair the ability of the Company to consummate such Sale of the Company;

 

(b)          if such transaction is a Stock Sale, to sell the same proportion of shares of capital stock of the Company beneficially held
by such Stockholder as is being sold by the Selling Stockholders to the Person to whom the Selling Stockholders propose to sell
their shares, and, except as permitted in Section 2.3 below, on the same terms and conditions as the Selling Stockholders;

 

(c)          to execute and deliver all related documentation and take such other action in support of the Sale of the Company as shall
reasonably be requested by the Company or the Selling Stockholders in order to carry out the terms and provision of this Section
2, including without limitation, executing and delivering instruments of conveyance and transfer, and any purchase agreement,
merger agreement, indemnity agreement, escrow agreement, consent, waiver, governmental filing, share certificates duly endorsed
for transfer (free and clear of impermissible liens, claims and encumbrances) and any similar or related documents;

 

(d)          not to deposit, and to cause their Affiliates not to deposit, except as provided in this Agreement, any shares of the Company
owned by such party or Affiliate in a voting trust or subject any Shares to any arrangement or agreement with respect to the voting
of such shares, unless specifically requested to do so by the acquiror in connection with the Sale of the Company; and

 

(e)          to refrain from exercising any dissenters’ rights or rights of appraisal under applicable law at any time with respect
to such Sale of the Company.

 

2.3         Exceptions. Notwithstanding the forgoing, a Stockholder will not be required
to comply with Section 2.2 above in connection with any proposed Sale of the Company (the “Proposed Sale”)
unless:

 

(a)          any representations and warranties to be made by such Stockholder in connection with the Proposed Sale are limited to representations
and warranties related to authority, ownership and the ability to convey title to such shares, including but not limited to representations
and warranties that (i) the Stockholder holds all right, title and interest in and to the shares such Stockholder purports to
hold, free and clear of all liens and encumbrances, (ii) the obligations of the Stockholder in connection with the transaction
have been duly authorized, if applicable, (iii) the documents to be entered into by the Stockholder have been duly executed by
the Stockholder and delivered to the acquirer and are enforceable against the Stockholder in accordance with their respective
terms and (iv) neither the execution and delivery of documents to be entered into in connection with the transaction, nor the
performance of the Stockholder’s obligations thereunder, will cause a breach or violation of the terms of any agreement,
law or judgment, order or decree of any court or governmental agency;

 

    	 	5	 

     

    

 

(b)          the Stockholder shall not be liable for the inaccuracy of any representation or warranty made by any other Person in connection
with the Proposed Sale;

 

(c)          the liability for indemnification, if any, of such Stockholder in the Proposed Sale and for the inaccuracy of any representations
and warranties made by the Company in connection with such Proposed Sale, is several and not joint with any other Person, and
is pro rata in accordance with such Stockholder’s relative stock ownership of the Company; provided that if Preferred
Shares are sold (i.e., are not converted to Common Stock), then indemnification shall be made in reverse order of the liquidation
waterfall established pursuant to the Charter as in effect as of the Closing of the Sale;

 

(d)          the liability, if any, of such Stockholder in the Proposed Sale shall be limited to the amount of consideration actually paid
to such Stockholder in connection with such Proposed Sale;

 

(e)          upon the consummation of the Proposed Sale, (i) each holder of the Preferred and each holder of the Common Stock will receive
the same form of consideration for their shares of Preferred or Common Stock, as the case may be, (ii) each holder of a series
of Preferred will receive the same amount of consideration per share of such series of Preferred as is received by other holders
in respect of their shares of such same series (iii) each holder of the Common Stock will receive the same amount of consideration
per share of the Common Stock, and (iv) unless the holders of at least a majority of the Preferred elect otherwise by written
notice given to the Company at least ten (10) days prior to the effective date of any such Proposed Sale, the aggregate consideration
receivable by all holders of the Preferred and the Common Stock shall be allocated among the holders of the Preferred and the
Common Stock on the basis of the relative liquidation preferences to which the holders of the Preferred and the holders of the
Common Stock are entitled in a Deemed Liquidation Event (assuming for this purpose that the Proposed Sale is a Deemed Liquidation
Event) in accordance with the Charter, as in effect immediately prior to the Proposed Sale;

 

(f)          subject to clause (e) above, requiring the same form of consideration to be received by the holders of the Common Stock and
the Preferred, if any holders of any capital stock of the Company are given an option as to the form and amount of consideration
to be received as a result of the Proposed Sale, all holders of such capital stock will be given the same option; and

 

(g)         such Stockholder shall not be required to enter into any restrictive covenants in respect of such Sale, including any non-competition
and/or non-solicitation covenants, other than customary confidentiality covenants.

 

2.4         Restrictions on Sales of Control of the Company. No Stockholder shall be a party
to any Stock Sale unless all holders of the Preferred are allowed to participate in such transaction and the consideration received
pursuant to such transaction is allocated among the parties thereto in the manner specified in the Charter, as in effect immediately
prior to the Stock Sale (as if such transaction were a Deemed Liquidation Event), unless the holders of at least a majority of
the Preferred elect otherwise by written notice given to the Company at least ten (10) days prior to the effective date of any
such transaction or series of related transactions.

 

    	 	6	 

     

    

 

	3.	Termination.

 

3.1         This Agreement shall continue in full force and effect from the date hereof through the earliest of the following dates, on
which date it shall terminate in its entirety:

 

(a)          immediately following the closing of a firmly underwritten public offering of the Common Stock pursuant to a registration
statement filed with the Securities and Exchange Commission, and declared effective under the Securities Act of 1933, as amended;

 

(b)          ten (10) years from the date of this Agreement;

 

(c)          the date of the closing of a sale, lease, or other disposition of all or substantially all of the Company’s assets or
the Company’s merger into or consolidation with any other corporation or other entity, or any other corporate reorganization,
in which the holders of the Company’s outstanding voting stock immediately prior to such transaction own, immediately after
such transaction, securities representing less than fifty percent (50%) of the voting power of the corporation or other entity
surviving such transaction; provided, however, that this Section 3.1(c) shall not apply to a merger effected exclusively
for the purpose of changing the domicile of the Company; or

 

(d)          the date upon which the parties hereto terminate this Agreement by written consent of the Company, a majority in interest
of the Investors and a majority in interest of the Key Holders.

 

	4.	Miscellaneous.

 

4.1         Ownership. Each Key Holder represents and warrants to the Investors and the
Company that (a) such Key Holder now owns the Key Holder Shares, free and clear of liens or encumbrances, and has not, prior
to or on the date of this Agreement, executed or delivered any proxy or entered into any other voting agreement or similar arrangement
other than one which has expired or terminated prior to the date hereof, and (b) such Key Holder has full power and capacity
to execute, deliver and perform this Agreement, which has been duly executed and delivered by, and evidences the valid and binding
obligation of, such Key Holder enforceable in accordance with its terms.

 

4.2         Further Action. If and whenever the Key Holder Shares are sold, the Key Holders
or the personal representative of the Key Holders shall do all things and execute and deliver all documents and make all transfers,
and cause any transferee of the Key Holder Shares to do all things and execute and deliver all documents, as may be necessary
to consummate such sale consistent with this Agreement.

 

4.3         Specific Performance. The parties hereto hereby declare that it is impossible
to measure in money the damages which will accrue to a party hereto or to their heirs, personal representatives, or assigns by
reason of a failure to perform any of the obligations under this Agreement and agree that the terms of this Agreement shall be
specifically enforceable. If any party hereto or his heirs, personal representatives, or assigns institutes any action or proceeding
to specifically enforce the provisions hereof, any person against whom such action or proceeding is brought hereby waives the
claim or defense therein that such party or such personal representative has an adequate remedy at law, and such person shall
not offer in any such action or proceeding the claim or defense that such remedy at law exists.

 

    	 	7	 

     

    

 

4.4         Governing Law; Consent to Jurisdiction; Waiver of Jury Trial. This Agreement
shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to its principles of conflicts
of laws. Each of the parties hereto irrevocably submits to the exclusive jurisdiction of the courts of the State of Delaware located
in Wilmington County and the United States District Court for the District of Delaware for the purpose of any suit, action, proceeding
or judgment relating to or arising out of this Agreement and the transactions contemplated hereby.  Service of process in
connection with any such suit, action or proceeding may be served on each party hereto anywhere in the world by the same methods
as are specified for the giving of notices under this Agreement.  Each of the parties hereto irrevocably consents to the
jurisdiction of any such court in any such suit, action or proceeding and to the laying of venue in such court.  Each party
hereto irrevocably waives any objection to the laying of venue of any such suit, action or proceeding brought in such courts and
irrevocably waives any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient
forum.  EACH OF THE PARTIES HERETO WAIVES ANY RIGHT TO REQUEST A TRIAL BY JURY IN ANY LITIGATION WITH RESPECT TO THIS AGREEMENT
AND REPRESENTS THAT COUNSEL HAS BEEN CONSULTED SPECIFICALLY AS TO THIS WAIVER.

 

4.5         Amendment or Waiver. This Agreement may be amended (or provisions of this Agreement
waived) only by an instrument in writing signed by (i) the Company, (ii) holders of a majority of shares held by the
Investors, and (iii) holders of a majority of shares held by the Key Holders; provided, however, that the consent
of the Key Holders shall not be required for any amendment or waiver that does not apply to the Key Holders. Any amendment or
waiver so effected shall be binding upon the Company, each of the parties hereto and any assignee of any such party, provided,
however, that notwithstanding the foregoing, Section 1.4(a) of this Agreement may not be amended or waived without the written
consent of a majority in interest of the holders of the Series B Preferred. Any such amendment, waiver, discharge or termination
effected in accordance with this paragraph shall be binding upon each Stockholder that has entered into this Agreement. Each Stockholder
acknowledges that by the operation of this paragraph, the holders of a majority of the shares held by the Key Holders and the
holders of a majority of the shares held by the Investors will have the right and power to diminish or eliminate all rights of
such Stockholder under this Agreement, except for those rights set forth in Section 1.4(a).

 

4.6         Severability. In the event one or more of the provisions of this Agreement should,
for any reason, be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability
shall not affect any other provisions of this Agreement, and this Agreement shall be construed as if such invalid, illegal or
unenforceable provision had never been contained herein.

 

4.7         Successors. This Agreement shall inure to the benefit of and be binding upon
the parties hereto and their respective heirs, successors, assigns, administrators, executors and other legal representatives.

 

    	 	8	 

     

    

 

4.8         Additional Shares. In the event that subsequent to the date of this Agreement
any shares or other securities are issued on, or in exchange for, any of the Key Holder Shares or Investor Shares by reason of
any stock dividend, stock split, combination of shares, reclassification or the like, such shares or securities shall be deemed
to be Key Holder Shares or Investor Shares, as the case may be, for purposes of this Agreement.

 

4.9         Addition of Investors. Notwithstanding anything to the contrary contained herein,
if the Company shall issue additional shares of the Preferred, any purchaser of such shares of the Preferred shall become a party
to this Agreement by executing and delivering an additional counterpart signature page to this Agreement and shall be deemed an
“Investor” hereunder.

 

4.10       Waiver. No waivers of any breach of this Agreement extended by any party hereto
to any other party shall be construed as a waiver of any rights or remedies of any other party hereto or with respect to any subsequent
breach.

 

4.11       Attorney’s Fees. In the event that any suit or action is instituted to
enforce any provision in this Agreement, the prevailing party in such dispute shall be entitled to recover from the losing party
all fees, costs and expenses of enforcing any right of such prevailing party under or with respect to this Agreement, including
without limitation, such reasonable fees and expenses of attorneys and accountants, which shall include, without limitation, all
fees, costs and expenses of appeals.

 

4.12       Notices. Any notices required in connection with this Agreement shall be in
writing and shall be deemed effectively given: (i) upon personal delivery to the party to be notified, (ii) when sent
by confirmed electronic mail or facsimile if sent during normal business hours of the recipient; if not, then on the next business
day, (iii) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid,
or (iv) one (1) day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written
verification of receipt. All notices shall be addressed to the holder appearing on the books of the Company or at such address
as such party may designate by ten (10) days advance written notice to the other parties hereto.

 

4.13       Entire Agreement. This Agreement, together with (i) that certain Investor Rights
Agreement by and among the Company and the Investors dated as of the date hereof, that certain (ii) Right of First Refusal and
Co-Sale Agreement by and among the Company, the Key Holders and the Investors dated as of the date hereof, and (iii) only as to
the New Investors, that certain Series B Preferred Stock Purchase Agreement, of even date herewith, constitute the full and entire
understanding and agreement between the parties with regard to the subjects hereof and thereof and no party shall be liable or
bound to any other in any manner by any representations, warranties, covenants and agreements except as specifically set forth
herein and therein.

 

4.14       Aggregation of Stock. All shares of the Preferred held or acquired by affiliated
entities or persons, or persons or entities under common management or control shall be aggregated together for the purpose of
determining the availability of any rights under this Agreement.

 

4.15       Counterparts. This Agreement may be executed in one or more counterparts, each
of which will be deemed an original, and all of which together shall constitute one and the same agreement. This Agreement may
be executed by facsimile signatures or via .pdf signature.

 

Signatures
on the Following Pages 

 

    	 	9	 

     

    

 

The
parties hereto have executed this Voting Agreement as of the date first above
written.

 

	THE
    COMPANY:	 
	 	 
	Helix
    TCS, Inc.	 
	 	 	 
	By:	     	 
	Name:	Zachary
    L. Venegas	 
	Its:  	Chief
    Executive Officer	 

 

	KEY
    HOLDERS:	 
	 	 
	Helix
    Opportunities, LLC	 
	 	 	 
	By:	      	 
	Name:	Zachary
    L. Venegas	 
	Its:	Chief
    Executive Officer	 

 

	ROSE CAPITAL:	 
	 	 	 
	RSF4, LLC	 
	 	 	 
	By:	 	 
	 	 	 
	By:	 	 
	Name:	 	 
	Title:	 	 
	 	 	 
	By:	               	 
	Name:	 	 
	Title:

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