Document:

Exhibit 10.2

 

Execution
Version

 

 

ASSET PURCHASE AGREEMENT

 

between

 

SOLID OPINION, INC.

 

and

 

IDEANOMICS, INC.

 

dated as of

 

February 19, 2019

 

 

    	 	 	 

     

    

 

TABLE OF CONTENTS

 

	ARTICLE I DEFINITIONS	1
	 	 
	ARTICLE II THE ASSET PURCHASE	7
	 	 
	ARTICLE III REPRESENTATIONS AND WARRANTIES OF THE COMPANY	9
	 	 
	ARTICLE IV REPRESENTATIONS AND WARRANTIES OF BUYER	14
	 	 
	ARTICLE V [RESERVED]	16
	 	 
	ARTICLE VI [RESERVED]	16
	 	 
	ARTICLE VII CONDITIONS TO CLOSING	16
	 	 
	ARTICLE VIII INDEMNIFICATION	17
	 	 
	ARTICLE IX [RESERVED]	23
	 	 
	ARTICLE X MISCELLANEOUS	23

 

    	 	i	 

     

    

 

ASSET PURCHASE AGREEMENT

 

This ASSET PURCHASE AGREEMENT
(this “Agreement”), dated as of February 19, 2019, is entered into by and between Ideanomics, Inc., a Nevada
corporation (“Buyer”), and SolidOpinion, Inc., a Delaware corporation (“Seller” or “Company”).
Buyer and Company are each sometimes referred to herein as a “Party” and collectively as the “Parties”.

 

RECITALS

 

WHEREAS, the Parties intend that
Seller sell and assign to Buyer, and Buyer purchase and assume from Seller, the Purchased Assets (as defined herein) of the Company,
subject to the terms and conditions set forth herein;

 

WHEREAS, the board of directors of
the Company (the “Company Board”) has unanimously (a) determined that this Agreement and the transactions
contemplated hereby are in the best interests of the Company and the Stockholders, (b) approved and declared advisable this
Agreement and the transactions contemplated hereby, and (c) resolved to recommend adoption of this Agreement by the
stockholders of the Company; and

 

WHEREAS, the board of directors
of Buyer (the “Buyer Board”) has unanimously (a) determined that this Agreement and the transactions contemplated
hereby, are in the best interests of the Buyer and its respective stockholders, and (b) approved and declared advisable this Agreement
and the transactions contemplated hereby;

 

NOW, THEREFORE, in consideration
of the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the Parties, intending to be legally bound, hereby agree as follows:

 

ARTICLE I 

Definitions

 

The following terms have the meanings specified
or referred to in this Article I:

 

“Accounting Principles”
means GAAP applied using the same accounting methods, practices, principles, policies and procedures, with consistent classifications,
judgments and valuation and estimation methodologies that were used in the preparation of the Financial Statements for the most
recent fiscal year end as if such accounts were being prepared and audited as of a fiscal year end.

 

    	 	 	 

     

    

 

“Action”
means any claim, action, cause of action, demand, lawsuit, arbitration, inquiry, audit, notice of violation, proceeding, litigation,
citation, summons, subpoena or investigation of any nature, civil, criminal, administrative, regulatory or otherwise, whether at
law or in equity.

 

“Affiliate” of a Person
means any other Person that directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under
common control with, such Person. The term “control” (including the terms “controlled by” and “under
common control with”) means the possession, directly or indirectly, of the power to direct or cause the direction of the
management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise.

 

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

 

“Allocation Schedule” has the
meaning set forth in Section 2.04.

 

“Applicable
Law” means, with respect to any Person, any federal, state, local, municipal, foreign or other law, statute, legislation,
constitution, treaty, principle of common law, code, rule, regulation, ordinance, judgment, decree or order enacted, adopted, passed,
approved, promulgated, made, implemented or otherwise put into effect by any Governmental Authority that applies to such Person,
its business or its properties.

 

“Balance Sheet” has the meaning
set forth in Section 3.04.

 

“Balance Sheet Date” has the
meaning set forth in Section 3.04.

 

“Basket” has the meaning set
forth in Section 8.04(a).

 

“Business Day” means
any day except Saturday, Sunday or any other day on which commercial banks located in New York are authorized or required by Applicable
Law to be closed for business.

 

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

 

“Buyer Board” has the meaning
set forth in the recitals.

 

“Buyer Common Stock” means shares
of Buyer’s common stock, par value $0.001 per share.

 

“Cap” has the meaning set forth
in Section 8.04(a).

 

“Closing” has the meaning set
forth in Section 2.05.

 

“Closing Date” has the meaning
set forth in Section 2.05.

 

“Code” has the meaning set forth
in the recitals.

 

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

 

“Company Board” has the meaning
set forth in the recitals.

 

    	 	2	 

     

    

 

“Company Charter Documents”
has the meaning set forth in Section 3.03.

 

“Company Intellectual Property”
means all Intellectual Property that is owned by or purported to be owned by the Company.

 

“Company IP Agreements”
means all licenses, sublicenses, consent to use agreements, settlements, coexistence agreements, covenants not to sue, permissions
and other Contracts (including any right to receive or obligation to pay royalties or any other consideration), whether written
or oral, relating to Intellectual Property to which the Company is a party, beneficiary or otherwise bound.

 

“Company Registered IP”
means all Company Intellectual Property that is subject to any issuance registration, application or other filing by, to or with
any Governmental Authority or authorized private registrar in any jurisdiction, including registered trademarks, domain names and
registered copyrights, issued and reissued patents and pending applications for any of the foregoing.

 

“Contracts” means
all contracts, leases, deeds, mortgages, licenses, instruments, notes, commitments, undertakings, indentures, joint ventures and
all other agreements, commitments and legally binding arrangements, whether written or oral.

 

“DGCL” means the Delaware General
Corporation Law, as amended.

 

“Direct Claim” has the meaning
set forth in Section 8.05(c).

 

“Disclosure Schedules”
means the Disclosure Schedules delivered by the Company and Buyer concurrently with the execution and delivery of this Agreement.

 

“Dollars” or “$”
means the lawful currency of the United States.

 

“Encumbrance” means
any charge, claim, community property interest, pledge, condition, equitable interest, lien (statutory or other), option, security
interest, mortgage, easement, encroachment, right of way, right of first refusal, or restriction of any kind, including any restriction
on use, voting, transfer, receipt of income or exercise of any other attribute of ownership.

 

“Escrow Account” has the meaning
set forth in Error! Reference source not found..

 

“Escrow Agent” means Transfer
Online, Inc.

 

“Escrow Agreement”
means the Escrow Agreement executed and delivered as of the day hereof by Buyer, Seller and the Escrow Agent in the form of Exhibit
A, to be effective as of the Closing Date.

 

“Escrow Shares” has the meaning
set forth in Error! Reference source not found..

 

“Exchange Act” means
the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated under such law.

 

“Excluded Assets” has the meaning
set forth in Section 2.02.

 

    	 	3	 

     

    

 

“Financial Statements” has the
meaning set forth in Section 3.04.

 

“GAAP” means United States
generally accepted accounting principles in effect from time to time.

 

“Governmental Authority”
means any federal, state, local or foreign government or political subdivision thereof, or any agency or instrumentality of such
government or political subdivision, or any self-regulated organization or other non-governmental regulatory authority or quasi-governmental
authority (to the extent that the rules, regulations or orders of such organization or authority have the force of Applicable Law),
or any arbitrator, court or tribunal of competent jurisdiction.

 

“Governmental Order”
means any order, writ, judgment, injunction, decree, stipulation, determination or award entered by or with any Governmental Authority.

 

“Indemnified Party” has the
meaning set forth in Section 8.05.

 

“Indemnifying Party” has the
meaning set forth in Section 8.05.

 

“Intellectual Property”
means any and all rights in, arising out of, or associated with any of the following in any jurisdiction throughout the world:
(a) issued patents and patent applications (whether provisional or non-provisional), including divisionals, continuations, continuations-in-part,
substitutions, reissues, reexaminations, extensions, or restorations of any of the foregoing, and other Governmental Authority-issued
indicia of invention ownership (including certificates of invention, petty patents, and patent utility models) (“Patents”);
(b) trademarks, service marks, brands, certification marks, logos, trade dress, trade names, and other similar indicia of source
or origin, together with the goodwill connected with the use of and symbolized by, and all registrations, applications for registration,
and renewals of, any of the foregoing (“Trademarks”); (c) copyrights and works of authorship, whether or not
copyrightable, and all registrations, applications for registration, and renewals of any of the foregoing (“Copyrights”);
(d) internet domain names and social media account or user names (including “handles”), whether or not Trademarks,
all associated web addresses, URLs, websites and web pages, social media accounts and pages, and all content and data thereon or
relating thereto, whether or not Copyrights; (e) mask works, and all registrations, applications for registration, and renewals
thereof; (f) industrial designs, and all Patents, registrations, applications for registration, and renewals thereof; (g) trade
secrets, know-how, inventions (whether or not patentable), discoveries, improvements, technology, business and technical information,
databases, data compilations and collections, tools, methods, processes, techniques, and other confidential and proprietary information
and all rights therein (“Trade Secrets”); (h) computer programs, operating systems, applications, firmware,
and other code, including all source code, object code, application programming interfaces, data files, databases, protocols, specifications,
and other documentation thereof; (i) rights of publicity; and (j) all other intellectual or industrial property and proprietary
rights.

 

“Intellectual Property Registrations”
has the meaning set forth in Section 3.09(a).

 

    	 	4	 

     

    

 

“Knowledge” means,
when used with respect to the Company, the actual knowledge of any director or officer of the Company.

 

“Losses” means losses,
damages, liabilities, deficiencies, Actions, judgments, interest, awards, penalties, fines, Taxes, costs or expenses of whatever
kind, including reasonable attorneys’ fees and the cost of enforcing any right to indemnification hereunder and the cost
of pursuing any insurance providers; provided, however, that “Losses” shall not include punitive, speculative,
remote, special, consequential or exemplary damages, except to the extent actually awarded to a Governmental Authority.

 

“Material Adverse Effect”
means any event, occurrence, fact, condition or change that is, or could reasonably be expected to become, individually or in the
aggregate, materially adverse to (a) the Purchased Assets, or (b) the ability of the Company to consummate the transactions contemplated
hereby on a timely basis; provided, however, that “Material Adverse Effect” shall not include any event, occurrence,
fact, condition or change, directly or indirectly, arising out of or attributable to: (i) general economic or political conditions;
(ii) conditions generally affecting the industries in which the Company operates; (iii) any changes in financial or securities
markets in general; (iv) acts of war (whether or not declared), armed hostilities or terrorism, or the escalation or worsening
thereof; (v) any action required or permitted by this Agreement, except pursuant to Section 3.03 and Error! Reference
source not found.; (vi) any changes in Applicable Laws or accounting rules, including GAAP; or (vii) the public announcement,
pendency or completion of the transactions contemplated by this Agreement; provided further, however, that any event, occurrence,
fact, condition or change referred to in clauses (i) through (iv) immediately above shall be taken into account in determining
whether a Material Adverse Effect has occurred or could reasonably be expected to occur to the extent that such event, occurrence,
fact, condition or change has a disproportionate effect on the Company compared to other participants in the industries in which
the Company conducts its businesses.

 

“Material Contracts” has the
meaning set forth in Section 3.06(a).

 

“Buyer SEC Reports” has the
meaning set forth in Section 4.04.

 

“Buyer Indemnitees” has the
meaning set forth in Section 8.02.

 

“Permits”
means all permits, licenses, franchises, approvals, authorizations, registrations, certificates, variances and similar rights obtained,
or required to be obtained, from Governmental Authorities.

 

    	 	5	 

     

    

 

“Permitted Encumbrances”
means (i) Encumbrances for Taxes not yet due and payable; (ii) Encumbrances of mechanics, carriers’, workmen’s, repairmen’s
or other like Encumbrances arising or incurred in the ordinary course of business consistent with past practice or amounts that
are not delinquent and which are not, individually or in the aggregate, material to the business of the Company (provided lien
statements have not been filed or such Encumbrances have not otherwise perfected); (iii) Encumbrances of zoning, building codes
and other land use Applicable Laws regulating the use or occupancy of real property or the activities conducted thereon which are
imposed by any Governmental Authority having jurisdiction over such real property which are not violated by the current use or
occupancy of such real property or the operation of the business of the Company, none of which are substantial in amount, interfere
materially with the ordinary conduct of the business of the Company, detract materially from the use, occupancy, value or marketability
of title of the assets subject thereto or materially impair the operations of the Company; (iv) statutory Encumbrances in favor
of lessors arising in connection with any leased real property; (v) Encumbrances of easements, covenants, conditions, rights-of-way,
restrictions and other similar charges and Encumbrances of record and other encroachments and title and survey defects, none of
which are substantial in amount, interfere materially with the ordinary conduct of the business of the Company, detract materially
from the use, occupancy, value or marketability of title of the assets subject thereto or materially impair the operations of the
Company; or (vi) purchase money liens securing rental payments under capital lease arrangements entered into in the ordinary course
of business consistent with past practice or amounts that are not delinquent and which are not, individually or in the aggregate,
material to the business of the Company.

 

“Person” means an
individual, corporation, partnership, joint venture, limited liability company, Governmental Authority, unincorporated organization,
trust, association or other entity.

 

“Piggyback Registration Agreement”
means the Piggyback Registration Agreement, executed and delivered as of the day hereof by Seller and Buyer in the form attached
hereto as Exhibit B, to be effective as of the Closing Date.“Purchased Assets” has the meaning set forth
in Section 2.01.

 

“Purchase Price” means 4,500,000
of shares of Buyer Common Stock.

 

“Representative” means,
with respect to any Person, any and all directors, officers, managers, employees, consultants, independent contractors, financial
advisors, counsel, accountants and other agents of such Person.

 

“Requisite Company Vote”
means the written consent or affirmative vote of (i) holders of a majority of shares of Company’s Common Stock; (ii) holders
of a majority of shares of the Company’s Series Seed Preferred Stock, voting as a single class; and (iii) holders of a majority
of shares of the Company’s Series A Preferred Stock, voting as a single class.

 

“Securities Act” means
the Securities Act of 1933, as amended, and the rules and regulations promulgated under such law.

 

“Stockholder Indemnitees” has
the meaning set forth in Section 8.03.

 

“Taxes” means all federal,
state, local, foreign and other income, gross receipts, sales, use, production, ad valorem, transfer, franchise, registration,
profits, license, lease, service, service use, withholding, payroll, employment, unemployment, estimated, excise, severance, environmental,
stamp, occupation, premium, property (real or personal), real property gains, windfall profits, customs, duties or other taxes,
fees, assessments or charges of any kind whatsoever, together with any interest, additions or penalties with respect thereto and
any interest in respect of such additions or penalties.

 

    	 	6	 

     

    

 

“Tax Return” means
any return, declaration, report, claim for refund, information return or statement or other document relating to Taxes (including
any schedule or attachment thereto) filed or required to be filed, or maintained or required to be maintained, with any Governmental
Authority in connection with any Tax, and including any amendment thereof.

 

“Third Party Claim” has the
meaning set forth in Section 8.05(a).

 

“Transaction Documents”
means the Escrow Agreement and the Piggyback Registration Agreement.

 

ARTICLE II 

The
Asset purchase

 

Section 2.01        Purchase and Sale of
Assets. Subject to the terms and conditions set forth herein, at the Closing, Seller, in exchange for receipt of the Purchase
Price, provided however, that the Escrow Shares shall be delivered the Escrow Agent per the Escrow Agreement, hereby sells, assigns,
transfers, conveys and delivers to Buyer, and Buyer hereby purchases, accepts and assumes from the Seller, free and clear of all
Encumbrances, all of Seller's right, title and interest in, to and under the following assets, properties and rights of Seller,
to the extent that such assets, properties and rights exist as of the Closing Date (collectively, the "Purchased Assets"):

 

(a)          cash
equal to $2,500,000, which shall be paid by the Company directing EGT International Corp. to pay to Buyer at Closing $2,500,000
otherwise payable by EGT International Corp. to the Company pursuant to that certain External Vendor Services Agreement between
the Company and EGT International Corp.; and

 

(b)          the
intellectual property assets and technology known as “comments radar” which is a web crawler/scanner which indexes
comments on websites, including the database of indexed comments from inception.

 

Section 2.02        Excluded Assets. The
Purchased Assets do not include, and Seller is not selling, assigning, transferring, conveying or delivering, and Buyer is not
purchasing, acquiring or accepting from Seller, any assets, properties or rights of Seller (the “Excluded Assets”)
not described above in Section 2.01 as included in the Purchased Assets. For avoidance of doubt, the Excluded Assets include
the intellectual property assets and technology known as Seller’s “comment widget”.

 

Section 2.03        Liabilities. Buyer
shall not assume and shall not be responsible to pay, perform or discharge any liabilities or obligations of Seller, other than
liabilities (the “Assumed Liabilities”) directly related to the Purchased Assets being acquired hereunder by
Buyer, but only to the extent that such liabilities are required to be performed after the Closing Date and do not result from
any failure to perform, improper performance, warranty or other breach default or violation by the Seller on or prior to the Closing
Date, which Assumed Liabilities are hereby assumed by Buyer at Closing.

 

    	 	7	 

     

    

 

Section 2.04        Allocation of Purchase
Price. Within 30 days after the Closing Date, Seller shall deliver to Buyer a schedule allocating the Purchase Price (including
any assumed liabilities treated as consideration for the Purchased Assets for Tax purposes) (the "Allocation Schedule").
The Allocation Schedule shall be prepared in accordance with Section 1060 of the Code. The Allocation Schedule shall be deemed
final unless Buyer notifies Seller in writing that Buyer objects to one or more items reflected in the Allocation Schedule within
ten days after delivery of the Allocation Schedule to Buyer. In the event of any such objection, Seller and Buyer shall negotiate
in good faith to resolve such dispute; provided, however, that if Seller and Buyer are unable to resolve any dispute with
respect to the Allocation Schedule within ten days after the delivery of the Allocation Schedule to Buyer, such dispute shall be
resolved by Withum Smith + Brown, PC. or, if Withum Smith + Brown, PC is unable to serve, another impartial nationally recognized
firm of independent certified public accountants mutually appointed by Buyer and Seller. The fees and expenses of such accounting
firm shall be borne equally by Seller and Buyer. Seller and Buyer agree to file their respective IRS Forms 8594 and all federal,
state and local Tax Returns in accordance with the Allocation Schedule.

 

Section 2.05        Closing. Subject
to the terms and conditions of this Agreement, the closing (the “Closing”) shall take place at 10 a.m., New
York time, on the date of this Agreement, substantially contemporaneously with the execution and delivery of this Agreement and
the Transaction Documents, at a location mutually agreed to by the Parties (the day on which the Closing takes place being the
“Closing Date”).

 

Section 2.06        Closing Deliverables.

 

(a)          Seller
Deliveries. At or prior to the Closing, the Seller shall deliver to the Buyer the following:

 

(i)           the Escrow Agreement, duly executed by the Company; and

 

(ii)          the
other Transaction Documents to which the Company is a party, duly executed by the Company, and such other documents or
instruments as Buyer reasonably requests and are reasonably necessary to consummate the transactions contemplated by this Agreement.

 

(b)          Buyer
Deliveries. At the Closing, Buyer shall deliver to the Company (or such other Person as may be specified herein) the following:

 

(i)           the
shares of Buyer Common Stock that constitute the Purchase Price, with (A) a stock certificate representing 450,000 such shares
to be delivered to the Escrow Agent pursuant to the Escrow Agreement, and (B) 4,050,000 such shares to be delivered to the Company
via electronic book entry delivery;

 

(ii)          the Escrow Agreement, duly executed by the Company; and

 

(iii)         the other Transaction
Documents to which Buyer is a party, duly executed by the Company, and such other documents or instruments as the Company
reasonably requests and are reasonably necessary to consummate the transactions contemplated by this Agreement.

 

    	 	8	 

     

    

 

ARTICLE III 

Representations
and warranties of the Company

 

Except as set forth in the correspondingly
numbered Section of the Disclosure Schedules, the Company represents and warrants to Buyer that the statements contained in this
Article III are true and correct as of the date hereof and as of the Closing Date.

 

Section 3.01        Organization and Qualification
of the Company. The Company is a corporation duly organized, validly existing and in good standing under the Applicable Laws
of the State of Delaware and has full corporate power and authority to own, operate or lease the properties and assets now owned,
operated or leased by it and to carry on its business as it has been and is currently conducted. The Company is duly licensed or
qualified to do business and is in good standing in each jurisdiction in which the ownership of the Purchased Assets or the operation
of the Company’s business as currently conducted makes such licensing or qualification necessary, except where the failure
to be so licensed, qualified or in good standing would not have a Material Adverse Effect.

 

Section 3.02        Authority; Board Approval.
The Company has all necessary corporate power and authority to enter into this Agreement and the other Transaction Documents
to which the Company is a party, to carry out its obligations hereunder and thereunder and to consummate the transactions contemplated
hereby and thereby. The execution and delivery by the Company of this Agreement and any other Transaction Document to which the
Company is a party, the performance by the Company of its obligations hereunder and thereunder and the consummation by the Company
of the transactions contemplated hereby and thereby have been duly authorized by all requisite corporate action on the part of
the Company. This Agreement has been duly executed and delivered by the Company, and (assuming due authorization, execution and
delivery by Buyer) this Agreement constitutes a legal, valid and binding obligation of the Company, enforceable against the Company
in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium
or similar Applicable Laws affecting creditors' rights generally and by general principles of equity (regardless of whether enforcement
is sought in a proceeding at law or in equity). When each other Transaction Document to which the Company is or will be a party
has been duly executed and delivered by the Company (assuming due authorization, execution and delivery by each other party thereto),
such Transaction Document will constitute a legal and binding obligation of Seller enforceable against it in accordance with its
terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar Applicable
Laws affecting creditors' rights generally and by general principles of equity (regardless of whether enforcement is sought in
a proceeding at law or in equity).

 

    	 	9	 

     

    

 

Section
3.03        No Conflicts; Consents. The execution, delivery and performance by
the Company of this Agreement and the Transaction Documents to which it is a party, and the consummation of the transactions
contemplated hereby and thereby, do not and will not: (i) subject to obtaining the Requisite Company Vote, conflict with or
result in a violation or breach of, or default under, any provision of the certificate of incorporation, by-laws or other
organizational documents of the Company (“Company Charter Documents”); (ii) subject to obtaining the
Requisite Company Vote, conflict with or result in a violation or breach of any provision of any Applicable Law or
Governmental Order applicable to the Company; (iii), require the consent, notice or other action by any Person under,
conflict with, result in a violation or breach of, constitute a default or an event that, with or without notice or lapse of
time or both, would constitute a default under, result in the acceleration of or create in any party the right to accelerate,
terminate, modify or cancel any Contract to which the Company is a party or by which the Company is bound or to which any of
the properties and assets of the Company are subject (including any Material Contract) or any Permit affecting the
properties, assets or business of the Company; or (iv) result in the creation or imposition of any Encumbrance other than
Permitted Encumbrances on any properties or assets of the Company, except in the cases of clauses (ii) (iii) and (iv), where
the violation, breach, conflict, default, acceleration or failure to give notice would not have a Material Adverse Effect. No
consent, approval, Permit, Governmental Order, declaration or filing with, or notice to, any Governmental Authority is
required by or with respect to the Company in connection with the execution, delivery and performance of this Agreement and
the Transaction Documents and the consummation of the transactions contemplated hereby and thereby, except for such filings
and such consents, approvals, Permits, Governmental Orders, declarations, filings or notices which, in the aggregate, would
not have a Material Adverse Effect.

 

Section 3.04        Financial Statements.
Complete copies of the Company’s financial statements consisting of the balance sheet of the Company as at December 31
in each of the years 2016, 2017 and 2018 and the related statements of income and retained earnings, stockholders’ equity
and cash flow for the years then ended (the “Financial Statements”) have been delivered to Buyer. The Financial
Statements have been prepared in accordance with GAAP applied on a consistent basis throughout the period involved. The Financial
Statements are based on the books and records of the Company, and fairly present in all material respects the financial condition
of the Company as of the respective dates they were prepared and the results of the operations of the Company for the periods indicated.
The balance sheet of the Company as of December 31, 2018 is referred to herein as the “Balance Sheet” and the
date thereof as the “Balance Sheet Date”. The Company maintains a standard system of accounting established
and administered in accordance with GAAP. The Company has established and maintains a system of “internal controls over financial
reporting” sufficient to provide reasonable assurance (i) regarding the reliability of the Company’s financial reporting
and the preparation of financial statements for external purposes in accordance with GAAP, (ii) that receipts and expenditures
of the Company are being made in all material respects in accordance with the authorization of the Company’s management,
and (iii) regarding prevention or timely detection of the unauthorized acquisition, use or disposition of the Company’s assets
that could have a material effect on the Company’s financial statements. The Company has not received, and there has not
been, any complaint, allegation, assertion or claim regarding the Company’s accounting practices, procedures, methodologies
or methods, in each case with respect to the preparation of the Financial Statements of the Company, including any complaint, allegation,
assertion or claim that the Company has engaged in questionable accounting practices with respect to the preparation of such Financial
Statements.

 

    	 	10	 

     

    

 

Section 3.05        Absence of Certain Changes, Events and Conditions. Since the Balance Sheet Date, and other than in the ordinary course of business
consistent with past practice, there has not been, with respect to the Company, any:

 

(a)          event,
occurrence or development that has had, or could reasonably be expected to have, individually or in the aggregate, a Material Adverse
Effect;

 

(b)          amendment of the charter, by-laws or other organizational documents of the Company;

 

(c)          material
change in any method of accounting or accounting practice of the Company, except as required by GAAP or as disclosed in the notes
to the Financial Statements;

 

(d)          entry into any Contract that would constitute a Material Contract;

 

(e)          transfer, assignment, sale or other disposition of any of the Purchased Assets;

 

(f)          transfer
or assignment of or grant of any license or sublicense under or with respect to, or sale or disposition of, any Company Intellectual
Property or Company IP Agreements;

 

(g)          abandonment
or lapse of or failure to maintain in full force and effect any Company Registered IP, or failure to take or maintain reasonable
measures to protect the confidentiality or value of any Trade Secrets included in the Company Intellectual Property;

 

(h)          material
damage, destruction or loss (whether or not covered by insurance) to any Purchased Assets;

 

(i)           acceleration,
termination, material modification to or cancellation of any material Contract (including, but not limited to, any Material Contract)
to which the Company is a party or by which it is bound;

 

(j)           imposition of any Encumbrance upon any of the Purchased Assets;

 

(k)          adoption
of any plan of merger, consolidation, reorganization, liquidation or dissolution or filing of a petition in bankruptcy under any
provisions of federal or state bankruptcy law or consent to the filing of any bankruptcy petition against it under any similar
Applicable Law;

 

(l)          purchase,
lease or other acquisition of the right to own, use or lease any property or assets, except for purchases of inventory or supplies
in the ordinary course of business consistent with past practice;

 

(m)          acquisition
by merger or consolidation with, or by purchase of a substantial portion of the assets or stock of, or by any other manner, any
business or any Person or any division thereof; or

 

(n)          any
Contract to do any of the foregoing, or any action or omission that would result in any of the foregoing.

 

Section 3.06        Material Contracts.

 

(a)          Section
1.01(a) of the Disclosure Schedules lists each of the following Contracts of the Company: (x) by which any of the Purchased
Assets are bound or affected or (y) to which the Company is a party or by which it is bound in connection with the Purchased Assets
(together with all Intellectual Property Agreements listed in Section 4.10Error! Reference source not found. of the Disclosure
Schedules, collectively, the "Material Contracts"):

 

    	 	11	 

     

    

 

(i)          each
Contract of the Company involving aggregate consideration in excess of $25,000 and which, in each case, cannot be cancelled by
the Company without penalty or without more than ninety (90) days’ notice;

 

(ii)          all
Contracts that require the Company to purchase its total requirements of any product or service from a third party or that contain
“take or pay” provisions;

 

(iii)         all
Contracts that provide for the indemnification by the Company of any Person or the assumption of any Tax, environmental or other
liability of any Person;

 

(iv)         all
Contracts that relate to the acquisition or disposition of any business, a material amount of stock or assets of any other Person
or any real property (whether by merger, sale of stock, sale of assets or otherwise);

 

(v)          all
broker, distributor, dealer, manufacturer’s representative, franchise, agency, sales promotion, market research, marketing
consulting and advertising Contracts to which the Company is a party;

 

(vi)        all
employment agreements and Contracts with independent contractors or consultants (or similar arrangements) to which the Company
is a party and which are not cancellable without material penalty or without more than ninety (90) days’ notice;

 

(vii)       except
for Contracts relating to trade receivables, all Contracts relating to indebtedness (including, without limitation, guarantees)
of the Company;

 

(viii)      all Contracts with any Governmental Authority to which the Company is a party;

 

(ix)         all
Contracts that limit or purport to limit the ability of the Company to compete in any line of business or with any
Person or in any geographic area or during any period of time;

 

(x)          any
Contracts to which the Company is a party that provide for any joint venture, partnership or similar arrangement by the Company;
and

 

(xi)         any
other Contract that is material to the Company and not previously disclosed pursuant to this Section 3.06.

 

(b)         Each
Material Contract is valid and binding on the Company in accordance with its terms and is in full force and effect. None of the
Company or, to the Company’s Knowledge, any other party thereto is in breach of or default under (or is alleged to be in
breach of or default under), or has provided or received any notice of any intention to terminate, any Material Contract. No event
or circumstance has occurred that, with notice or lapse of time or both, would constitute an event of default under any Material
Contract or result in a termination thereof or would cause or permit the acceleration or other changes of any right or obligation
or the loss of any benefit thereunder. Complete and correct copies of each Material Contract (including all modifications, amendments
and supplements thereto and waivers thereunder) have been made available to Buyer.

 

    	 	12	 

     

    

 

Section 3.07        Title to Assets. [Except
as set forth in Section 3.07 of the Disclosure Schedules,] The Company has good and valid title to, or a valid leasehold interest
in, all tangible personal property included in the Purchased Assets, free and clear of Encumbrances except for Permitted Encumbrances.

 

Section 3.08        Condition and Sufficiency
of Assets. The Purchased Assets are sufficient for the continued conduct of the Company’s business after the Closing
in substantially the same manner as conducted prior to the Closing, and constitute all of the rights, property and assets necessary
to conduct the Company’s business as currently conducted.

 

Section 3.09        Intellectual Property.

 

(a)          Section
3.09(a) of the Disclosure Schedules lists (i) all Intellectual Property Registrations and (ii) all Company IP Agreements. Except
as would not have a Material Adverse Effect, the Company owns or has the right to use all Intellectual Property Assets and the
Intellectual Property licensed to the Company under the Intellectual Property Agreements.

 

(b)          Except
as would not have a Material Adverse Effect, to the Company's Knowledge: (i) the conduct of the Company’s business as currently
conducted does not infringe, misappropriate, dilute or otherwise violate the Intellectual Property of any Person; and (ii) no Person
is infringing, misappropriating or otherwise violating any Intellectual Property Assets. Notwithstanding anything to the contrary
in this Agreement, this Section 3.09(b) constitutes the sole representation and warranty of the Company under this Agreement
with respect to any actual or alleged infringement, misappropriation or other violation by the Company of any Intellectual Property
of any other Person.

 

Section 3.10        Legal Proceedings; Governmental
Orders.

 

(a)          There
are no Actions pending or, to the Company’s Knowledge, threatened (a) against or by the Company affecting any of the Purchased
Assets; or (b) against or by the Company that challenges or seeks to prevent, enjoin or otherwise delay the transactions contemplated
by this Agreement.

 

(b)          There
are no outstanding Governmental Orders and no unsatisfied judgments, penalties or awards against or affecting the Company or any
of the Purchased Assets.

 

Section 3.11        Compliance With Laws; Permits.

 

(a)          The
Company has complied, and is now complying, with all Applicable Laws except where the failure to be in compliance would not have
a Material Adverse Effect.

 

(b)          All
Permits required for the Company to conduct its business have been obtained by it and are valid and in full force and effect except
where the failure to obtain such Permits would not have a Material Adverse Effect. All
fees and charges with respect to such Permits as of the date hereof have been paid in full except where the failure to pay such
fees and charges would not have a Material Adverse Effect.

 

    	 	13	 

     

    

 

Section 3.12        Taxes. Except as
would not have a Material Adverse Effect, the Company has duly and timely (a) filed, or caused to be filed, taking into account
any extensions, all Tax Returns required to have been filed by them, and such Tax Returns are true, correct and complete, and (b)
paid all Taxes (whether or not shown on any Tax Return) required to have been paid by them (including any Taxes required to be
withheld from amounts owing to any employee, creditor, stockholder or other third party), except in each case of clauses (a) and
(b), with respect to matters contested in good faith in appropriate proceedings and for which adequate reserves have been established
in accordance with GAAP in the Financial Statements.

 

Section 3.13        Brokers. No broker,
finder or investment banker is entitled to any brokerage, finder’s or other fee or commission in connection with the transactions
contemplated by this Agreement or any Transaction Document based upon arrangements made by or on behalf of the Company.

 

Section 3.14        No Other Representations
and Warranties. Except for the representations and warranties contained in this Article III (including the related portions
of the Disclosure Schedules), neither the Company nor any other Person has made or makes any other express or implied representation
or warranty, either written or oral, on behalf of the Company, including any representation or warranty as to the accuracy or completeness
of any information regarding the business of the Company and the Purchased Assets furnished or made available to Buyer and its
Representatives (including any information, documents or material made available to Buyer in the data room, management presentations
or in any other form in expectation of the transactions contemplated hereby) or as to the future revenue, profitability or success
of the Company’s business, or any representation or warranty arising from statute or otherwise in law.

 

ARTICLE IV

Representations
and warranties of Buyer

 

Except as set forth in the correspondingly
numbered Section of the Disclosure Schedules, Buyer represents and warrants to the Company that the statements contained in this
Article IV are true and correct as of the date hereof and as of the Closing Date.

 

Section 4.01        Organization and Authority
of Buyer. The Buyer is a corporation duly organized, validly existing and in good standing under the Applicable Laws of the
jurisdiction of its incorporation. Buyer has full corporate power and authority to enter into and perform its obligations under
this Agreement and the Transaction Documents to which it is a party and to consummate the transactions contemplated hereby and
thereby. The execution, delivery and performance by Buyer of this Agreement and any Transaction Document to which they are a party
and the consummation by Buyer of the transactions contemplated hereby and thereby have been duly authorized by all requisite corporate
action on the part of Buyer and no other corporate proceedings on the part of Buyer are necessary to authorize the execution, delivery
and performance of this Agreement and the other transactions contemplated hereby and thereby. This Agreement has been duly executed
and delivered by Buyer, and (assuming due authorization, execution and delivery by each other Party) this Agreement constitutes
a legal, valid and binding obligation of Buyer enforceable against Buyer in accordance with its terms. When each Transaction Document
to which Buyer is or will be a party has been duly executed and delivered by Buyer (assuming due authorization, execution and delivery
by each other party thereto), such Transaction Document will constitute a legal and binding obligation of Buyer enforceable against
it in accordance with its terms.

 

    	 	14	 

     

    

 

Section 4.03        No Conflicts; Consents.
The execution, delivery and performance by Buyer of this Agreement and the Transaction Documents to which they are a party,
and the consummation of the transactions contemplated hereby and thereby, do not and will not: (a) conflict with or result in a
violation or breach of, or default under, any provision of the certificate of incorporation, by-laws or other organizational documents
of Buyer; (b) conflict with or result in a violation or breach of any provision of any Applicable Law or Governmental Order applicable
to Buyer; or (c) require the consent, notice or other action by any Person under any Contract to which Buyer is a party. No consent,
approval, Permit, Governmental Order, declaration or filing with, or notice to, any Governmental Authority is required by or with
respect to Buyer in connection with the execution, delivery and performance of this Agreement and the Transaction Documents and
the consummation of the transactions contemplated hereby and thereby.

 

Section 4.04        SEC Filings. Except
as set forth in Section 4.04 of the Disclosure Schedules, Buyer has filed with, or furnished to the U.S. Securities and
Exchange Commission, all reports, documents, statements, schedules and forms required to be filed or furnished, as applicable,
under the Securities Act or the Exchange Act, by Buyer since January 1, 2017 (collectively, the “Buyer SEC Reports”).
As of the time so filed or furnished (or, if amended or superseded by a filing prior to the date of this Agreement, then on the
date of such filing), the Buyer SEC Reports complied as to form in all material respects with the applicable requirements of the
Securities Act or the Exchange Act, as the case may be, and did not contain any untrue statement of a material fact or omit to
state a material fact required to be stated in such Buyer SEC Reports or necessary in order to make the statements in such Buyer
SEC Reports, in the light of the circumstances under which they were made, not misleading. Buyer is in compliance in all material
respects with all applicable provisions of the Sarbanes-Oxley Act of 2002, as amended, and the rules and regulations promulgated
under such law.

 

Section 4.05        Brokers. No broker,
finder or investment banker is entitled to any brokerage, finder’s or other fee or commission in connection with the transactions
contemplated by this Agreement or any Transaction Document based upon arrangements made by or on behalf of Buyer.

 

Section 4.06        Legal Proceedings. Except
as set forth in Section 4.06 of the Disclosure Schedules here are no Actions pending or, to Buyer’s knowledge, threatened
against or by Buyer or any of their respective Affiliates that challenge or seek to prevent, enjoin or otherwise delay the transactions
contemplated by this Agreement.

 

    	 	15	 

     

    

 

Section
4.07        Independent Investigation. Buyer has conducted its own independent
investigation, review and analysis of the Company’s business and the Purchased Assets, and acknowledges that it has
been provided adequate access to the personnel, properties, assets, premises, books and records, and other documents and data
of the Company for such purpose. Buyer acknowledges and agrees that: (a) in making its decision to enter into this Agreement
and to consummate the transactions contemplated hereby, Buyer has relied solely upon its own investigation and the express
representations and warranties of the Company set forth in ARTICLE III of this Agreement (including related portions of the
Disclosure Schedules); and (b) neither the Company nor any other Person has made any representation or warranty as to
the Company, the Company’s business, the Purchased Assets or this Agreement, except as expressly set forth in ARTICLE
III of this Agreement (including the related portions of the Disclosure Schedules).

 

ARTICLE
V

[Reserved]

 

ARTICLE VI 

[Reserved]

 

ARTICLE VII 

Conditions
to closing

 

Section 7.01        Conditions to Obligations
of All Parties. The obligations of each Party to consummate the transactions contemplated by this Agreement shall be subject
to the fulfillment, at or prior to the Closing, of each of the condition that no Governmental Authority shall have enacted, issued,
promulgated, enforced or entered any Governmental Order which is in effect and has the effect of making the transactions contemplated
by this Agreement illegal, otherwise restraining or prohibiting consummation of such transactions or causing any of the transactions
contemplated hereunder to be rescinded following completion thereof.

 

Section 7.02        Conditions to Obligations of Buyer. The obligations of Buyer to consummate the transactions contemplated by this Agreement
shall be subject to the fulfillment or Buyer’s waiver in writing, at or prior to the Closing, of each of the following conditions:

 

(a)          The
representations and warranties of the Company contained in this Agreement, the Transaction Documents and any certificate or other
writing delivered pursuant hereto shall be true and correct in all respects as of the Closing Date with the same effect as though
made at and as of such date (except those representations and warranties that address matters only as of a specified date, which
shall be true and correct in all respects as of that specified date), except where the failure of such representations and warranties
to be true and correct would not have a Material Adverse Effect.

 

(b)          The
Company shall have duly performed and complied in all material respects with all agreements, covenants and conditions required
by this Agreement and each of the Transaction Documents to be performed or complied with by it prior to or on the Closing Date.

 

    	 	16	 

     

    

 

(c)          No
Action shall have been commenced against Buyer or the Company, which would prevent the Closing. No injunction or restraining order
shall have been issued by any Governmental Authority, and be in effect, which restrains or prohibits any transaction contemplated
hereby.

 

(d)          All
approvals, consents and waivers, if any, that are listed on Section 3.03 of the Disclosure Schedules, if any, shall have
been received, and executed counterparts thereof shall have been delivered to Buyer at or prior to the Closing.

 

(e)          The
Company shall have delivered each of the closing deliverables set forth in Section 2.06(a).

 

Section 7.03        Conditions to Obligations
of the Company. The obligations of the Company to consummate the transactions contemplated by this Agreement shall be subject
to the fulfillment or the Company’s waiver in writing, at or prior to the Closing, of each of the following conditions:

 

(a)          The
representations and warranties of Buyer contained in this Agreement, the Transaction Documents and any certificate or other writing
delivered pursuant hereto shall be true and correct in all respects as of the Closing Date with the same effect as though made
at and as of such date (except those representations and warranties that address matters only as of a specified date, which shall
be true and correct in all respects as of that specified date), except where the failure of such representations and warranties
to be true and correct would not have a Material Adverse Effect.

 

(b)          Buyer
shall have duly performed and complied in all material respects with all agreements, covenants and conditions required by this
Agreement and each of the Transaction Documents to be performed or complied with by them prior to or on the Closing Date.

 

(c)          No
injunction or restraining order shall have been issued by any Governmental Authority, and be in effect, which restrains or prohibits
any material transaction contemplated hereby.

 

(d)          Buyer shall have delivered each of the closing deliverables set forth in Section 2.06(b).

 

ARTICLE VIII

Indemnification

 

Section 8.01        Survival. Subject
to the limitations and other provisions of this Agreement, the representations and warranties contained herein shall survive the
Closing and shall remain in full force and effect until the close of business on first Business Day after the date that is twelve
(12) months from the Closing Date; provided, that the representations and warranties in Section 3.01, Section
3.02, Section 4.01 and Section 4.02 shall survive indefinitely. All covenants and agreements of the Parties contained
herein shall survive the Closing indefinitely or for the period explicitly specified therein. Notwithstanding the foregoing, any
claims asserted in good faith with reasonable specificity (to the extent known at such time) and in writing by notice from the
Indemnified Party to the Indemnifying Party prior to the expiration date of the applicable survival period shall not thereafter
be barred by the expiration of the relevant representation or warranty and such claims shall survive until finally resolved.

 

    	 	17	 

     

    

 

Section 8.02        Indemnification by Seller.
Subject to the other terms and conditions of this Article VIII, the Seller shall indemnify and defend each of Buyer
and its Affiliates and their respective Representatives (collectively, the “Buyer Indemnitees”) against, and
shall hold each of them harmless from and against, and shall pay and reimburse each of them for, any and all Losses incurred or
sustained by, or imposed upon, the Buyer Indemnitees based upon, arising out of, with respect to or by reason of:

 

(a)          any
inaccuracy in or breach of any of the representations or warranties of the Seller contained in this Agreement; or

 

(b)          any
breach or non-fulfillment of any covenant, agreement or obligation to be performed by the Company pursuant to this Agreement.

 

Section 8.03        Indemnification By Buyer.
Subject to the other terms and conditions of this Article VIII, Buyer shall indemnify and defend the Company its Affiliates
and their respective Representatives (collectively, the “Seller Indemnitees”) against, and shall hold each of
them harmless from and against, and shall pay and reimburse each of them for, any and all Losses incurred or sustained by, or imposed
upon, the Seller Indemnitees based upon, arising out of, with respect to or by reason of:

 

(a)          any
inaccuracy in or breach of any of the representations or warranties of Buyer contained in this Agreement; or

 

(b)          any
breach or non-fulfillment of any covenant, agreement or obligation to be performed by Buyer pursuant to this Agreement.

 

Section 8.04        Certain Limitations. The indemnification
provided for in Section 8.02 and Section 8.03 shall be subject to the following limitations:

 

(a)          Seller
shall not be liable to the Buyer Indemnitees for indemnification under Section 8.02(a) until the aggregate amount of all
Losses in respect of indemnification under Section 8.02(a) exceeds $20,000 (the “Basket”), in which event
Seller shall be required to pay or be liable for all such Losses in excess of the Basket. The aggregate amount of all Losses for
which the Company shall be liable pursuant to Section 8.02(a) shall not exceed the Escrowed Shares pursuant to the Escrow
Agreement (the “Cap”).

 

(b)          Buyer
shall not be liable to the Seller for indemnification under Section 8.03(a) until the aggregate amount of all Losses
in respect of indemnification under Section 8.03(a) exceeds the Basket, in which event Buyer shall be required to pay
or be liable for all such Losses in excess of the Basket. The aggregate amount of all Losses for which Buyer shall be liable
pursuant to Section 8.03(a) shall not exceed the Cap.

 

(c)          Payments
by the Company pursuant to Section 8.02 in respect of any Loss shall be limited to the amount of any liability or damage
that remains after deducting therefrom any insurance proceeds and any indemnity, contribution or other similar payment received
or reasonably expected to be received by the Buyer in respect of any such claim. The Buyer shall use its commercially reasonable
efforts to recover under insurance policies or indemnity, contribution or other similar agreements for any Losses prior to seeking
indemnification under this Agreement.

 

    	 	18	 

     

    

 

(d)          Payments
by the Company pursuant to Section 8.02 in respect of any Loss shall be reduced by an amount equal to any Tax benefit
realized or reasonably expected to be realized as a result of such Loss by the Buyer.

 

(e)          In
no event shall the Company be liable to the Buyer for any punitive, incidental, consequential, special or indirect damages, including
loss of future revenue or income, loss of business reputation or opportunity relating to the breach or alleged breach of this Agreement,
or diminution of value or any damages based on any type of multiple.

 

(f)          The
Buyer shall take, and cause its Affiliates to take, all reasonable steps to mitigate any Loss upon becoming aware of any event
or circumstance that would be reasonably expected to, or does, give rise thereto, including incurring costs only to the minimum
extent necessary to remedy the breach that gives rise to such Loss.

 

(g)          The
Company shall not be liable under this Article VIII for any Losses based upon or arising out of any inaccuracy in or breach of
any of the representations or warranties of the Company contained in this Agreement if the Company can demonstrate that Buyer
had actual knowledge of such inaccuracy or breach prior to the Closing. 

 

Section 8.05        Indemnification Procedures.
The party making a claim under this Article VIII is referred to as the “Indemnified Party”, and the
party against whom such claims are asserted under this Article VIII is referred to as the “Indemnifying Party”.
For purposes of this Article VIII, (i) if Buyer (or any other Buyer Indemnitee) comprises the Indemnified Party, any references
to Indemnifying Party (except provisions relating to an obligation to make payments) shall be deemed to refer to the Seller, and
(ii) if Buyer comprises the Indemnifying Party, any references to the Indemnified Party shall be deemed to refer to Seller.

 

(a)          Third
Party Claims. If any Indemnified Party receives notice of the assertion or commencement of any Action made or brought by any
Person who is not a party to this Agreement or an Affiliate of a party to this Agreement or a Representative of the foregoing (a
“Third Party Claim”) against such Indemnified Party with respect to which the Indemnifying Party is obligated
to provide indemnification under this Agreement, the Indemnified Party shall give the Indemnifying Party reasonably prompt written
notice thereof, but in any event not later than thirty (30) calendar days after receipt of such notice of such Third Party Claim.
The failure to give such prompt written notice shall not, however, relieve the Indemnifying Party of its indemnification obligations,
except and only to the extent that the Indemnifying Party forfeits rights or defenses by reason of such failure. Such notice by
the Indemnified Party shall describe the Third Party Claim in reasonable detail, shall include copies of all material written evidence
thereof and shall indicate the estimated amount, if reasonably practicable, of the Loss that has been or may be sustained by the
Indemnified Party. The Indemnifying Party shall have the right to participate in, or by giving written notice to the Indemnified
Party, to assume the defense of any Third Party Claim at the Indemnifying Party’s expense and by the Indemnifying Party’s
own counsel, and the Indemnified Party shall cooperate in good faith in such defense. In the event that the Indemnifying Party
assumes the defense of any Third Party Claim, subject to Section 8.05(b), it shall have the right to take such action as
it deems necessary to avoid, dispute, defend, appeal or make counterclaims pertaining to any such Third Party Claim in the name
and on behalf of the Indemnified Party. The Indemnified Party shall have the right to participate in the defense of any
Third Party Claim with counsel selected by it subject to the Indemnifying Party’s right to control the defense thereof. The
fees and disbursements of such counsel shall be at the expense of the Indemnified Party, provided, that if in the reasonable
opinion of counsel to the Indemnified Party, (A) there are legal defenses available to an Indemnified Party that are different
from or additional to those available to the Indemnifying Party; or (B) there exists a conflict of interest between the Indemnifying
Party and the Indemnified Party that cannot be waived, the Indemnifying Party shall be liable for the reasonable fees and expenses
of counsel to the Indemnified Party in each jurisdiction for which the Indemnified Party determines counsel is required. If the
Indemnifying Party elects not to compromise or defend such Third Party Claim, fails to promptly notify the Indemnified Party in
writing of its election to defend as provided in this Agreement, or fails to diligently prosecute the defense of such Third Party
Claim, the Indemnified Party may, subject to Section 8.05(b), pay, compromise, defend such Third Party Claim and seek indemnification
for any and all Losses based upon, arising from or relating to such Third Party Claim. Seller and Buyer shall cooperate with each
other in all reasonable respects in connection with the defense of any Third Party Claim, including making available records relating
to such Third Party Claim and furnishing, without expense (other than reimbursement of actual out-of-pocket expenses) to the defending
party, management employees of the non-defending party as may be reasonably necessary for the preparation of the defense of such
Third Party Claim.

 

    	 	19	 

     

    

 

(b)          Settlement
of Third Party Claims. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not enter into settlement
of any Third Party Claim without the prior written consent of the Indemnified Party, except as provided in this Section 8.05(b).
If a firm offer is made to settle a Third Party Claim without leading to liability or the creation of a financial or other obligation
on the part of the Indemnified Party and provides, in customary form, for the unconditional release of each Indemnified Party from
all liabilities and obligations in connection with such Third Party Claim and the Indemnifying Party desires to accept and agree
to such offer, the Indemnifying Party shall give written notice to that effect to the Indemnified Party. If the Indemnified Party
fails to consent to such firm offer within ten (10) days after its receipt of such notice, the Indemnified Party may continue to
contest or defend such Third Party Claim, and in such event the maximum liability of the Indemnifying Party as to such Third Party
Claim shall not exceed the amount of such settlement offer. If the Indemnified Party fails to consent to such firm offer and also
fails to assume defense of such Third Party Claim, the Indemnifying Party may settle the Third Party Claim upon the terms set forth
in such firm offer to settle such Third Party Claim. If the Indemnified Party has assumed the defense pursuant to Section 8.05(a),
it shall not agree to any settlement without the written consent of the Indemnifying Party (which consent shall not be unreasonably
withheld or delayed).

 

(c)          Direct
Claims. Any Action by an Indemnified Party on account of a Loss which does not result from a Third Party Claim (a “Direct
Claim”) shall be asserted by the Indemnified Party giving the Indemnifying Party reasonably prompt written notice thereof,
but in any event not later than thirty (30) days after the Indemnified Party becomes aware of such Direct Claim. The failure to
give such prompt written notice shall not, however, relieve the Indemnifying Party of its indemnification obligations, except and
only to the extent that the Indemnifying Party forfeits rights or defenses by reason of such failure. Such notice by the Indemnified
Party shall describe the Direct Claim in reasonable detail, shall include copies of all material written evidence thereof and shall
indicate the estimated amount, if reasonably practicable, of the Loss that has been or may be sustained
by the Indemnified Party. The Indemnifying Party shall have thirty (30) days after its receipt of such notice to respond in writing
to such Direct Claim. The Indemnified Party shall allow the Indemnifying Party and its professional advisors to investigate the
matter or circumstance alleged to give rise to the Direct Claim, and whether and to what extent any amount is payable in respect
of the Direct Claim and the Indemnified Party shall assist the Indemnifying Party’s investigation by giving such information
and assistance (including access to Purchased Assets and the right to examine and copy related any accounts, documents or records)
as the Indemnifying Party or any of its professional advisors may reasonably request. If the Indemnifying Party does not so respond
within such thirty (30) day period, the Indemnifying Party shall be deemed to have rejected such claim, in which case the Indemnified
Party shall be free to pursue such remedies as may be available to the Indemnified Party on the terms and subject to the provisions
of this Agreement.

 

    	 	20	 

     

    

 

Section 8.06        Payments; Escrow Account.

 

(a)          Once
a Loss is agreed to by the Indemnifying Party or finally adjudicated to be payable pursuant to this Article VIII, the Indemnifying
Party shall satisfy its obligations within fifteen (15) Business Days of such final, non-appealable adjudication: (i) in the case
of any Losses payable by Buyer to a Seller Indemnitee pursuant to Article VIII, by wire transfer of immediately available
funds, and (ii) in the case of any Losses payable by Seller to a Buyer Indemnitee pursuant to Article VIII, by recourse
to the Escrow Account and the Escrowed Shares pursuant to the Escrow Agreement as provided in Section 8.06(d) below. The
Parties agree that should an Indemnifying Party not make full payment of any such obligations within such fifteen (15) Business
Day period, any amount payable shall accrue interest from and including the date of agreement of the Indemnifying Party or final,
non-appealable adjudication to but excluding the date such payment has been made at a rate per annum equal to the United States
dollar prime rate per annum, as quoted by Citibank, N.A. (or any successor thereof) on the Closing Date. Such interest shall be
calculated daily on the basis of a year of three hundred sixty five (365) days and the actual number of days elapsed since the
Closing Date.

 

(b)          Any
Losses payable to a Buyer Indemnitee pursuant to Article VIII shall be satisfied solely from the Escrow Account. If Seller
becomes obligated to indemnify a Seller Indemnitee for a Loss as contemplated by the first sentence of Section 8.06(a),
then:

 

(i)           Seller
shall cooperate with Buyer to issue a joint written instruction to the Escrow Agent pursuant to Section 2 of the Escrow Agreement
to disburse to such Buyer Indemnitee a number of Escrow Shares having a value equal to the amount of such indemnifiable Loss which
the Company is obligated to pay to the relevant Buyer Indemnitee (with the Escrow Shares valued for such purpose in accordance
with Section 8.06(b)(ii) below); and

 

(ii)          Where
Escrow Shares are to be disbursed to a Buyer Indemnitee pursuant to this Section 8.06 and the Escrow Agreement in satisfaction
of the Company’s obligation to indemnify a Buyer Indemnitee for a Loss, (A) the value of each Escrow Share to be used for
determining the number of Escrow Shares to be so disbursed to satisfy such indemnification obligation shall be the average trading
price of shares of Buyer Common Stock on the NASDAQ during the 20-day period ending on the second trading day prior to the date
on which the Parties deliver the joint written notice instructing the Escrow Agent to disburse Escrow Shares to a Buyer
Indemnitee (the “Average Share Price”) and (B) the number of Escrow Shares to
be disbursed shall be equal to the quotient obtained by dividing (x) the amount of the Loss for which the Company is obligated
to indemnify the Buyer Indemnitee by (y) the Average Share Price, rounded down to the nearest whole share.

 

    	 	21	 

     

    

 

(c)          On
the first anniversary of the date of this Agreement, Buyer and Seller shall cooperate to issue to the Escrow Agent, a joint written
instruction pursuant to Section 2 of the Escrow Agreement, instructing the Escrow Agent to release and disburse to the Company
or its designee all then-remaining Escrow Shares; provided, that if at such time there remain bona fide claims for
indemnification that have been properly asserted by a Buyer Indemnitee pursuant to this Article VIII but which as to which
the Company’s liability for indemnification hereunder has not been finally resolved (“Pending Claims”),
then such joint written instruction shall direct the Escrow Agent to retain as Escrowed Shares pursuant to the Escrow Agreement
a number of then-remaining Escrowed Shares (up to all such then-remaining Escrowed Shares, the “Retained Escrow Shares”)
equal to the quotient obtained by dividing (A) the expected amount of Losses for which the Company could reasonably be expected
to indemnify Buyer Indemnitees under all Pending Claims as agreed in good faith by the Company and Buyer, by (B) the Average Share
Price, rounded down to the nearest whole share. For avoidance of doubt, if the number of then-remaining Escrow Shares exceeds the
number of the Retained Escrow Shares, then the joint written instruction of Buyer and the Company given hereunder shall direct
the Escrow Agent to release and disburse such excess then-remaining Escrow Shares to the Company or its designee.

 

Section 8.07        Tax Treatment of Indemnification Payments. All indemnification payments made under this Agreement shall be treated by the Parties
as an adjustment for Tax purposes, unless otherwise required by Applicable Law.

 

Section 8.08        Exclusive Remedies. Subject
to Section 10.11, the Parties acknowledge and agree that their sole and exclusive remedy with respect to any and all claims
(other than claims arising from intentional fraud or criminal activity on the part of a Party in connection with the transactions
contemplated by this Agreement) for any breach of any representation, warranty, covenant, agreement or obligation set forth herein
or otherwise relating to the subject matter of this Agreement, shall be pursuant to the indemnification provisions set forth in
this Article VIII. In furtherance of the foregoing, each Party hereby waives, to the fullest extent permitted under Applicable
Law, any and all rights, claims and causes of action for any breach of any representation, warranty, covenant, agreement or obligation
set forth herein or otherwise relating to the subject matter of this Agreement it may have against the other Parties and their
Affiliates and each of their respective Representatives arising under or based upon any Applicable Law, except pursuant to the
indemnification provisions set forth in this Article VIII. Nothing in this Section 8.08 shall limit any Person’s
right to seek and obtain any equitable relief to which any Person shall be entitled or to seek any remedy on account of any party’s
intentional fraud or criminal activity.

 

    	 	22	 

     

    

 

ARTICLE IX

[Reserved]

 

ARTICLE X

Miscellaneous

 

Section 10.01     Expenses. Except
as otherwise expressly provided herein, all costs and expenses, including, without limitation, fees and disbursements of counsel,
financial advisors and accountants, incurred in connection with this Agreement and the transactions contemplated hereby shall be
paid by the Party incurring such costs and expenses, whether or not the Closing shall have occurred; provided, that Buyer,
on the one hand, and Seller on the other hand, shall pay or reimburse the Escrow Agent fifty percent (50%) of all expenses, disbursements
and advances, including attorney’s fees and expenses, owed to the Escrow Agent and incurred or made in connection with the
performance of the Escrow Agreement.

 

Section 10.02     Notices. All notices,
requests, consents, claims, demands, waivers and other communications hereunder shall be in writing and shall be deemed to have
been given (a) when delivered by hand (with written confirmation of receipt); (b) when received by the addressee if sent by a nationally
recognized overnight courier (receipt requested); (c) on the date sent by e-mail of a PDF document (with confirmation of transmission)
if sent during normal business hours of the recipient, and on the next Business Day if sent after normal business hours of the
recipient or (d) on the third (3rd) day after the date mailed, by certified or
registered mail, return receipt requested, postage prepaid. Such communications must be sent to the respective Parties at the following
addresses (or at such other address for a party as shall be specified in a notice given in accordance with this Section 10.02):

 

		If to the Company:	SolidOpinion, Inc.

110 W. 96th Street, Suite 15A

New York, NY 10025

E-mail: gonstantine.goltsev@solidopinion, com

Attention: Constantine Goltsev, Chief Executive
Officer

 

		with a copy to:	RPCK Rastegar Panchal, P.C.

10 East 40th Street, Suite 3307

New York, NY 10016

E-mail: Chintan.Panchal@RPCK.com

Attention: Chintan Panchal, Esq.

 

TangoLaw PLLC

801 2nd Avenue, Suite 1110

Seattle, WA 98104

Email: doug@tangolaw.com

Attention: Douglas Choi, Esq.

 

    	 	23	 

     

    

 

		If to Buyer:	Ideanomics, Inc.

55 Broadway, 19th Floor

New York, NY 10006

E-mail: FTovar@ideanomics.com

Attention: Federico Tovar, Chief Financial Officer

 

		with a copy to:	Venable LLP

1270 Avenue of the Americas

New York, NY 10020

E-mail: wnhaddad@venable.com

Attention: William N. Haddad, Esq.

 

Section 10.03     Interpretation. For
purposes of this Agreement, (a) the words “include,” “includes” and “including” shall be deemed
to be followed by the words “without limitation”; (b) the word “or” is not exclusive; and (c) the words
“herein,” “hereof,” “hereby,” “hereto” and “hereunder” refer to this
Agreement as a whole. Unless the context otherwise requires, references herein: (x) to Articles, Sections, Disclosure Schedules
and Exhibits mean the Articles and Sections of, and Disclosure Schedules and Exhibits attached to, this Agreement; (y) to an agreement,
instrument or other document means such agreement, instrument or other document as amended, supplemented and modified from time
to time to the extent permitted by the provisions thereof and (z) to a statute means such statute as amended from time to time
and includes any successor legislation thereto and any regulations promulgated thereunder. This Agreement shall be construed without
regard to any presumption or rule requiring construction or interpretation against the party drafting an instrument or causing
any instrument to be drafted. The Disclosure Schedules and Exhibits referred to herein shall be construed with, and as an integral
part of, this Agreement to the same extent as if they were set forth verbatim herein.

 

Section 10.04     Headings. The headings
in this Agreement are for reference only and shall not affect the interpretation of this Agreement.

 

Section 10.05     Severability. If
any term or provision of this Agreement is invalid, illegal or unenforceable in any jurisdiction, such invalidity, illegality or
unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable such term
or provision in any other jurisdiction. Upon such determination that any term or other provision is invalid, illegal or unenforceable,
the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely
as possible in a mutually acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated
to the greatest extent possible.

 

    	 	24	 

     

    

 

Section 10.06     Entire Agreement. This
Agreement and the Transaction Documents constitute the sole and entire agreement of the Parties to this Agreement with respect
to the subject matter contained herein and therein, and supersede all prior and contemporaneous understandings and agreements,
both written and oral, with respect to such subject matter. In the event of any inconsistency between the statements in the body
of this Agreement and those in the Transaction Documents, the Exhibits and Disclosure Schedules (other than an exception expressly
set forth as such in the Disclosure Schedules), the statements in the body of this Agreement will control.

 

Section 10.07     Successors and Assigns.
This Agreement shall be binding upon and shall inure to the benefit of the Parties and their respective successors and permitted
assigns. Neither party may assign its rights or obligations hereunder without the prior written consent of the other party, which
consent shall not be unreasonably withheld or delayed. No assignment shall relieve the assigning party of any of its obligations
hereunder.

 

Section 10.08     No Third-party Beneficiaries.
Except as provided in Error! Reference source not found. and Article VIII, this Agreement is for the sole benefit
of the Parties and their respective successors and permitted assigns and nothing herein, express or implied, is intended to or
shall confer upon any other Person or entity any legal or equitable right, benefit or remedy of any nature whatsoever under or
by reason of this Agreement.

 

Section 10.09     Amendment and Modification;
Waiver. This Agreement may only be amended, modified or supplemented by an agreement in writing signed by Buyer and the Company
at any time prior to the Closing; provided, however, that after the Requisite Company Vote is obtained, there shall be no
amendment or waiver that, pursuant to Applicable Law, requires further approval of the Company’s stockholders, without the
receipt of such further approvals. Any failure of Buyer, on the one hand, or the Company, on the other hand, to comply with any
obligation, covenant, agreement or condition herein may be waived by the Company (with respect to any failure by Buyer) or by Buyer
(with respect to any failure by the Company), respectively, only by a written instrument signed by the party granting such waiver,
but such waiver or failure to insist upon strict compliance with such obligation, covenant, agreement or condition shall not operate
as a waiver of, or estoppel with respect to, any subsequent or other failure.

 

Section 10.10     Governing Law; Submission to Jurisdiction;
Waiver of Jury Trial.

 

(a)          This
Agreement shall be governed by and construed in accordance with the internal laws of the State of Delaware without giving effect
to any choice or conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction).

 

    	 	25	 

     

    

 

(b)          Each
Party irrevocably consents to the exclusive jurisdiction and venue of the Court of Chancery of the State of Delaware in connection
with any matter based upon or arising out of this Agreement, the Transaction Documents or any other transactions or matters contemplated
herein or therein (or, only if the Court of Chancery of the State of Delaware declines to accept jurisdiction over a particular
matter, any federal court within the State of Delaware). Each Party agrees not to commence any legal proceedings related hereto
or thereto except in such court (or, only if the Court of Chancery of the State of Delaware declines to accept jurisdiction over
a particular matter, in any federal court within federal court within the State of Delaware). By execution and delivery
of this Agreement, each Party irrevocably and unconditionally submits to the exclusive jurisdiction of such courts and to the appellate
courts therefrom solely for the purposes of disputes arising under this Agreement and not as a general submission to such jurisdiction
or with respect to any other dispute, matter or claim whatsoever. The Parties irrevocably consent to the service of process out
of any of the aforementioned courts in any such action or proceeding by the delivery of copies thereof by overnight courier to
the address for such Party to which notices are deliverable hereunder. Any such service of process shall be effective upon delivery.
Nothing herein shall affect the right to serve process in any other manner permitted by Applicable Law. The Parties hereby waive
any right to stay or dismiss any action or proceeding under or in connection with this Agreement or the Transaction Documents brought
before the foregoing courts on the basis of (i) any claim that it is not personally subject to the jurisdiction of the above-named
courts for any reason, or that it or any of its property is immune from the above-described legal process, (ii) that such action
or proceeding is brought in an inconvenient forum, that venue for the action or proceeding is improper or that this Agreement or
any of the Transaction Documents may not be enforced in or by such courts, or (iii) any other defense that would hinder or delay
the levy, execution or collection of any amount to which any party hereto is entitled pursuant to any final judgment of any court
having jurisdiction

 

(c)          EACH
PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT OR THE TRANSACTION DOCUMENTS IS LIKELY
TO INVOLVE COMPLICATED AND DIFFICULT ISSUES AND, THEREFORE, EACH SUCH PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT
MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LEGAL ACTION ARISING OUT OF OR RELATING TO THIS AGREEMENT, THE TRANSACTION DOCUMENTS
OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. EACH PARTY TO THIS AGREEMENT CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE
OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT SEEK TO ENFORCE THE FOREGOING WAIVER
IN THE EVENT OF A LEGAL ACTION, (B) SUCH PARTY HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (C) SUCH PARTY MAKES THIS WAIVER
VOLUNTARILY, AND (D) SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS
IN THIS Section 10.10(c).

 

Section 10.11     Specific Performance.
The Parties agree that irreparable damage would occur if any provision of this Agreement were not performed in accordance with
the terms hereof and that the Parties shall be entitled to specific performance of the terms hereof, in addition to any other remedy
to which they are entitled at law or in equity.

 

Section 10.12     Counterparts. This
Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall be deemed
to be one and the same agreement. A signed copy of this Agreement delivered by facsimile, e-mail or other means of electronic transmission
shall be deemed to have the same legal effect as delivery of an original signed copy of this Agreement.

 

    	 	26	 

     

    

 

IN WITNESS WHEREOF, the Parties have caused this Agreement
to be executed as of the date first written above by their respective officers thereunto duly authorized.

 

	Company:	Solidopinion,
    Inc.
	 	 	 
	 	By	/s/ Constantine Goltsev
	 	Name: Constantine Goltsev
	 	Title: Chief Executive Officer
	 	 
	Buyer:	Ideanomics,
    Inc.
	 	 	 
	 	By	/s/ Federico Tovar
	 	Name: Federico Tovar
	 	Title: Chief Financial Officer

 

    	 	 	 

     

    

 

EXHIBIT A 

ESCROW AGREEMENT

 

    	 	 	 

     

    

 

EXHIBIT B 

PIGGYBACK REGISTRATION AGREEMENTExhibit 10.3

 

Execution Version

 

REGISTRATION RIGHTS AGREEMENT

 

This Registration
Rights Agreement (this “Agreement”) is entered into this February 19, 2019, by and among Ideanomics, Inc., a
Nevada corporation (the “Company”) and SolidOpinion, Inc., a Delaware Corporation (“SolidOpinion”),
in connection with the consummation of the transactions contemplated by that certain Asset Purchase Agreement (the “Purchase
Agreement”), dated February 19, 2019, among the same parties hereto, pursuant to which the Company agrees to purchase
certain SolidOpinion assets in consideration for 4,500,000 shares (the “Shares”) of Company common stock, $.001
par value per share (“Common Stock”). Pursuant to the terms of the Purchase Agreement, the parties hereto desire
to enter into this Agreement in order to grant certain registration rights to SolidOpinion and its successors and assigns:

 

1.            Certain
Definitions. As used in this Agreement, the following terms shall have the following respective meanings:

 

“Commission”
shall mean the Securities and Exchange Commission, or any other federal agency at the time administering the Securities Act.

 

“Exchange
Act” shall mean the Securities Exchange Act of 1934, as amended, or any similar federal statute, and the rules and regulations
of the Commission thereunder, all as the same shall be in effect at the time.

 

“Holder” shall mean a holder of
Restricted Stock.

 

“Registration Expenses” shall
mean the expenses so described in Section 4.

 

“Restricted
Stock” shall mean the Shares, excluding Shares (i) which have been (a) registered under the Securities Act pursuant to
an effective registration statement filed thereunder and disposed of in accordance with the registration statement covering them
or (b) publicly sold pursuant to Rule 144 under the Securities Act or (ii) which may be sold pursuant to Rule 144(k) (or its successor)
under the Securities Act.

 

“Securities
Act” shall mean the Securities Act of 1933, as amended, or any similar federal statute, and the rules and regulations
of the Commission thereunder, all as the same shall be in effect at the time.

 

“Selling Expenses” shall mean
the expenses so described in Section 4.

 

    	 	 	 

     

    

 

2.            Piggy-Back
Registration. If the Company at any time proposes to register any of its Common Stock under the Securities Act for sale to
the public, whether for its own account or for the account of other security holders or both (except with respect to registration
statements on Forms S-4, S-8 (or their successors) or another form not available for registering the Restricted Stock for sale
to the public), each such time it will give prompt written notice in any event no later than 30 days prior to the filing of such
registration statement to the Holders of its intention so to do. Upon the written request delivered by the Holder to the Company
within 15 days after the giving of any such notice by the Company to register any of the Restricted Stock, the Company shall include
in such registration all Restricted Stock as to which registration shall have been so requested to be included in the securities
to be covered by the registration statement proposed to be filed by the Company, all to the extent requisite to permit the sale
or other disposition by the Holder of such Restricted Stock so registered. In the event that any registration pursuant to this
Section 2 shall be, in whole or in part, an underwritten public offering of Common Stock, the number of shares of Restricted Stock
to be included in such an underwriting may be reduced if and to the extent that the managing underwriter shall be of the opinion
that such inclusion would adversely affect the marketing of the securities to be sold by the Company therein; provided,
however, that in any event the Holders shall be entitled to register the offer and sale or distribute at least 20% of the
securities to be included in any such registration or takedown. Notwithstanding the foregoing provisions, the Company may withdraw
any registration statement referred to in this Section 2 without thereby incurring any liability to the Holder.

 

3.            Registration
Procedures. If and whenever the Company is required by the provisions of Section 2 (Piggy Back Registration) to effect
the registration of any shares of Restricted Stock under the Securities Act, the Company will, as expeditiously as possible:

 

(a)          furnish
to the Holder(s) such number of copies of the registration statement and the prospectus included therein (including each preliminary
prospectus) as the Holder(s) reasonably may request in order to facilitate the public sale or other disposition of the Restricted
Stock covered by such registration statement;

 

(b)          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 with the Commission;

 

(c)          register
or qualify the Restricted Stock covered by such registration statement under the securities or “blue sky” laws of
such jurisdictions as the Holder(s) or, in the case of an underwritten public offering, the managing underwriter reasonably shall
request, provided, however, that the Company shall not for any such purpose be required to qualify generally to
transact business as a foreign corporation in any jurisdiction where it is not so qualified or to consent to general service of
process in any such jurisdiction; and

 

(d)          immediately
notify the Holder, at any time when a prospectus relating to the Restricted Stock is required to be delivered under the Securities
Act, of the happening of any event of which the Company has knowledge as a result of which the prospectus contained in such registration
statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact required to be
stated therein or necessary to make the statements therein not misleading in light of the circumstances
then existing.

 

    	 	-2-	 

     

    

 

It shall be a condition
to the Company’s obligations under Section 2 (Piggy Back Registration) with respect to any registration that the
Holder furnish to the Company in writing such information with respect to the Holder and the proposed distribution of the Restricted
Stock as reasonably shall be necessary in order to assure compliance with federal and applicable state securities laws.

 

4.            Expenses.
All expenses incurred by the Company in connection with a registration to which Section 2 (Piggy Back Registration) is applicable,
including, without limitation, all registration and filing fees, printing expenses, fees and disbursements of counsel and independent
public accountants for the Company, fees and expenses (including counsel fees) incurred in connection with complying with state
securities or “blue sky” laws, fees of the National Association of Securities Dealers, Inc., transfer taxes, fees of
transfer agents and registrars, and costs of insurance obtained by the Company, but excluding any Selling Expenses, are called
“Registration Expenses.” All underwriting discounts and selling commissions and reasonable fees and disbursements of
a Holder’s counsel applicable to the sale of Restricted Stock are called “Selling Expenses.” The Company will
pay all Registration Expenses in connection with each registration statement under Section 2 (Piggy Back Registration).
Each selling Holder will pay all of its respective Selling Expenses in connection with each registration statement under Section
2 (Piggy Back Registration).

 

		5.	Indemnification and Contribution.

 

(a)          In
the event of a registration of any of the Restricted Stock under the Securities Act pursuant to Section 2 (Piggy Back Registration),
the Company will indemnify and hold harmless the Holder of such Restricted Stock thereunder, each underwriter of such Restricted
Stock thereunder and each other person, if any, who controls such Holder or underwriter within the meaning of the Securities Act,
against any losses, claims, damages or liabilities, joint or several, to which such Holder, underwriter or controlling person may
become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect
thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any
registration statement under which such Restricted Stock was registered under the Securities Act pursuant to Section 2 (Piggy
Back Registration), any preliminary prospectus or final prospectus contained therein, or any amendment or supplement thereof,
or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein
or necessary to make the statements therein not misleading, and will reimburse such Holder, such underwriter and such controlling
person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss,
claim, damage, liability or action, provided, however, that the Company will not be liable in any such case if and
to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue
statement or omission or alleged omission so made in conformity with information furnished by any such Holder, such underwriter
or such controlling person in writing specifically for use in such registration statement or prospectus.

 

    	 	-3-	 

     

    

 

(b)          In
the event of a registration of any of the Restricted Stock under the Securities Act pursuant to Section 2 (Piggy Back Registration),
the Holder of such Restricted Stock will indemnify and hold harmless the Company, each person, if any, who controls the Company
within the meaning of the Securities Act, each officer of the Company who signs the registration statement, each director of the
Company, each underwriter and each person who controls any underwriter within the meaning of the Securities Act, against all losses,
claims, damages or liabilities, joint or several, to which the Company or such officer, director, underwriter or controlling person
may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in
respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained
in the registration statement under which such Restricted Stock was registered under the Securities Act pursuant to Section 2
(Piggy Back Registration), any preliminary prospectus or final prospectus contained therein, or any amendment or supplement
thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated
therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such officer, director,
underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating
or defending any such loss, claim, damage, liability or action, provided, however, that such Holder will be liable
hereunder in any such case if and only to the extent that any such loss, claim, damage or liability arises out of or is
based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity
with information pertaining to such Holder, as such, furnished in writing to the Company by or on behalf of such Holder specifically
for use in such registration statement or prospectus, and provided, further, however, that the liability
of the Holder hereunder shall not in any event exceed the net proceeds received by such Holder from the sale of Restricted Stock
covered by such registration statement.

 

(c)          Promptly
after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a
claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof,
but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to such indemnified
party other than under this Section 5 (Indemnification and Contribution) and shall only relieve it from any liability which
it may have to such indemnified party under this Section 5 (Indemnification and Contribution) if and to the extent the indemnifying
party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify
the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in and, to the extent
it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party, and, after notice
from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying
party shall not be liable to such indemnified party under this Section 5 (Indemnification and Contribution) for any legal
expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of
investigation and of liaison with counsel so selected, provided, however, that, if the defendants in any such action
include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there
may be reasonable defenses available to it which are different from or additional to those available to the indemnifying party
or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party,
the indemnified party shall have the right to select a separate counsel and to assume such legal defenses and otherwise to participate
in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation
to be reimbursed by the indemnifying party as incurred.

 

    	 	-4-	 

     

    

 

(d)          If
the indemnification provided for in this Section 5 (Indemnification and Contribution) is held by a court of competent jurisdiction
to be unavailable to an indemnified party with respect to any losses, claims, damages or liabilities referred to herein, the indemnifying
party, in lieu of indemnifying such indemnified party thereunder, shall to the extent permitted by applicable law contribute to
the amount paid or payable by such indemnified party as a result of such loss, claim, damage or liability in such proportion as
is appropriate to reflect the relative fault of the indemnifying party on the one hand and of the indemnified party on the other
in connection with the actions that resulted in such loss, claim, damage or liability, as well as any other relevant equitable
considerations. The relative fault of the indemnifying party and of the indemnified party shall be determined by a court of law
by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission to state
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 no event shall any contribution by a Holder hereunder exceed the gross proceeds from the offering received by such Holder.

 

(e)          The
obligations of the Company and Holder under this Section 5 (Indemnification and Contribution) shall survive completion of
any offering of Restricted Stock in a registration statement and the termination of this Agreement. No indemnifying party, in the
defense of any such claim or litigation, shall, except with the consent of each indemnified party, consent to entry of any judgment
or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to
such indemnified party of a release from all liability in respect to such claim or litigation.

 

6.            Preservation
of Rights. The Company shall not grant any right, enter into any agreement, take any action, or permit any change to occur,
with respect to its securities that violates or subordinates the rights expressly granted to the Holders of Restricted Stock in
this Agreement.

 

    	 	-5-	 

     

    

 

7.            Miscellaneous.

 

(a)          This
Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns.
The Company may assign this Agreement at any time in connection with a sale or acquisition of the Company, whether by merger, consolidation,
sale of all or substantially all of the Company’s assets, or similar transaction, without the consent of the Holders; provided,
that the successor or acquiring Person agrees in writing to assume all of the Company’s rights and obligations under this
Agreement. Any assignment of Restricted Stock by any Holder (including, without limitation, any assignment or distribution of Restricted
Stock by SolidOpinion to its stockholders) shall automatically assign the rights and obligations in this Agreement with respect
to such Restricted Stock, whereupon such purchaser or transferee shall have the benefits of, and shall be subject to the restrictions
contained in, this Agreement as if such purchaser or transferee was originally included in the definition of a Holder herein and
had originally been a party hereto.

 

(b)
       All notices, requests, consents, claims, demands, waivers
and other communications hereunder shall be in writing and shall be deemed to have been given (a) when delivered by hand (with
written confirmation of receipt); (b) when received by the addressee if sent by a nationally recognized overnight courier (receipt
requested); (c) on the date sent by facsimile or e-mail of a PDF document (with confirmation of transmission) if sent during normal
business hours of the recipient, and on the next Business Day if sent after normal business hours of the recipient, or (d) on the
third day after the date mailed, by certified or registered mail, return receipt requested, postage prepaid. Such communications
must be sent to the respective parties at the following addresses (or at such other address for a party as shall be specified in
a notice given in accordance with this section:

 

(i) if
to the Company, at Ideanomics, Inc., 55 Broadway, 19th Floor New York, NY 10006; E-mail: FTovar@ideanomics.com Attention: Federico
Tovar, Chief Financial Officer;

 

(ii)
if to SolidOpinion or any subsequent Holder of Restricted Stock, at such address as may have been furnished to the Company in writing
by SolidOpinion or such Holder;

 

(c)
       This Agreement shall be governed by and construed in accordance
with the laws of the State of New York, without regard to conflicts of law principles thereof.

 

(d)          This
Agreement may not be amended or modified, and no provision hereof may be waived, without the written consent of the Company and
the Holders of a majority of the Restricted Stock. No waiver by any party or parties shall operate or be construed as a waiver
in respect of any failure, breach or default not expressly identified by such written waiver, whether of a similar or different
character, and whether occurring before or after that waiver. Except as otherwise set forth in this Agreement, no failure to exercise,
or delay in exercising, any right, remedy, power or privilege arising from this Agreement shall operate
or be construed as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder
preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege.

 

    	 	-6-	 

     

    

 

(e)          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.

 

(f)          The
obligations of the Company to register shares of Restricted Stock under Section 2 (Piggy Back Registration) shall terminate
when there shall no longer be any unregistered Restricted Stock outstanding; provided, that the provisions of Section 4 (Expenses)
and Section 5 (Indemnification and Contribution) shall survive any such termination.

 

(g)          If
any provision of this Agreement shall be held to be illegal, invalid or unenforceable, such illegality, invalidity or unenforceability
shall not affect any other term or provision of this Agreement or invalidate or render unenforceable such term or provision in
any other jurisdiction. Upon such determination that any term or other provision is invalid, illegal or unenforceable, the parties
hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as
possible in a mutually acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated
to the greatest extent possible.

 

(h)          Each
Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, shall be entitled to
specific performance of its rights under this Agreement. The Company acknowledges that monetary damages would not be adequate compensation
for any loss incurred by reason of a breach by it of the provisions of this Agreement and the Company hereby agrees to waive the
defense in any action for specific performance that a remedy at law would be adequate.

 

(i)          Each of the parties
to this Agreement shall execute and deliver such additional documents, instruments, conveyances and assurances and take such further
actions as may be reasonably required to carry out the provisions hereof and to give effect to the transactions contemplated hereby.

 

(j)          Any
Holder or other person receiving any written notice from the Company pursuant to this Agreement regarding the Company’s plans
to file a registration statement shall treat such notice confidentially and shall not disclose such information to any person other
than as necessary to exercise its rights under this Agreement.

 

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    	 	-7-	 

     

    

 

IN WITNESS WHEREOF, the parties hereto
have caused this Agreement to be executed as of the date first written above by their respective officers thereunto duly authorized.

 

	IDEANOMICS, INC.	 
	 	 	 
	By:	/s/ Alfred P. Poor	 
	 	Name: Alfred P. Poor	 
	 	Title: COO	 
	 	 	 
	SOLIDOPINION, INC.	 
	 	 	 
	By:	/s/ Constantine Goltsev	 
	 	Name:  Constantine Goltsev	 
	 	Title: Chief Executive Officer	 

 

    	 	-8-

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