Document:

Exhibit
10.1

 

WARRANT
EXERCISE AGREEMENT

 

THIS
WARRANT EXERCISE AGREEMENT (this “Agreement”), dated as of August 9, 2017, is by and among Inpixon,
a Nevada corporation (the “Company”), and certain registered holders of the Company’s outstanding warrants
set forth on the signature pages hereto (each a “Warrant Holder” and together, the “Warrant Holders”).

 

RECITALS:

 

WHEREAS, the
Warrant Holders are the record and beneficial owners of one or more of warrants (the “Registered Warrants”)
to purchase shares of the Company’s common stock, par value $0.001 per share (“Common Stock”), at an
original exercise price of $1.3125 per share (the “Exercise Price”) issued pursuant to that certain Warrant
Agency Agreement, dated June 30, 2017 (the “Warrant Agency Agreement”), by and between the Company and Corporate
Stock Transfer, as warrant agent (the “Warrant Agent”); and

 

WHEREAS,
as of the date hereof, the Warrant Holders are the registered holders of the Registered Warrants set forth on each Warrant
Holder’s signature page hereto; and

 

WHEREAS,
as of the date hereof, there are issued and outstanding Registered Warrants to purchase an aggregate of 5,750,000 shares of Common
Stock; and

 

WHEREAS,
the Company’s board of directors has determined that it is in the best interests of the Company, its stockholders and
the Warrant Holders to induce the exercise of the Warrants by the Warrant Holders by (i) amending the Warrant Agency
Agreement to reduce the Exercise Price of the Registered Warrants to $0.30 (“Amended Exercise Price”) in
accordance with the terms and conditions of Amendment No. 1 to the Warrant Agency Agreement, substantially in the form
attached hereto as Exhibit A (the “Warrant Agency Amendment”), and (ii) issuing additional warrants
to the Warrant Holders, substantially in the form attached hereto as Exhibit B (the “Additional
Warrants”), to purchase an aggregate of 1,095,719 shares of Common Stock (the “Additional Warrant
Shares”) at an exercise price of $0.55 per share; and

 

WHEREAS,
each Warrant Holder agrees, on the terms and subject to the conditions set forth herein, to exercise such Warrant Holder’s
Registered Warrants for cash in an amount that is equal to a minimum of 300,000 shares of Common Stock, unless such Warrant Holder
does not own Registered Warrants to purchase a number of shares of Common Stock equal to at least 300,000, in which case such
Warrant Holder will agree to exercise all Registered Warrants held by such Warrant Holder (the “Minimum Purchase Amount”).

 

NOW,
THEREFORE, it is hereby agreed as follows:

 

1.     Warrant
Agency Amendment. The Warrant Holders hereby agree and consent to the Warrant Agency Amendment for the purpose of reducing
the Exercise Price to the Amended Exercise Price.

 

2.     Exercise
of the Warrants. Each Warrant Holder hereby irrevocably agrees to exercise the Registered Warrants for the aggregate number
of shares of Common Stock, which shall be equal to no less than the Minimum Purchase Amount, as set forth on each Warrant Holder’s
signature page hereto (the “Exercised Shares”) for a cash exercise payment that shall be equal to the amount
of Exercised Shares multiplied by the Amended Exercise Price (the “Purchase Price”). The number of Exercised
Shares and the Purchase Price applicable to each Warrant Holder is set forth on each Warrant Holder’s signature page hereto.
No later than one (1) Trading Day (as defined below) following the date hereof, each Warrant Holder shall deliver such Warrant
Holder’s Election to Purchase (as defined in the Warrant Agency Agreement) and the Purchase Price for the Exercised Shares
in accordance with Section 3.3 of the Warrant Agency Agreement and the Company shall deliver the fully executed Warrant Agency
Amendment to the Warrant Agent. Following the exercise of the Registered Warrants and the delivery of the Purchase Price pursuant
to this Agreement, the Company shall cause the Warrant Agent to deliver the Exercised Shares in accordance with the terms of the
Warrant Agency Agreement and within (1) Trading Day following such exercise, the Company will deliver an executed Additional Warrant
registered in the name of each Warrant Holder to purchase the number of shares of Common Stock that shall be equal to the number
of Exercised Shares purchased by each Warrant Holder. For purposes of this Agreement “Trading Day” means a day on
which the Company’s principal trading market is open for trading.

 

     

     

    

 

3.     Representations
and Warranties of the Company. The Company hereby represents, warrants and covenants to the Warrant Holders as follows:

 

3.1.       The
Company has full power and authority and has taken all requisite action on the part of the Company, its officers, directors and
stockholders necessary for (i) the authorization, execution and delivery of this Agreement, the Additional Warrants and the Warrant
Agency Amendment (collectively, the “Transaction Documents”), (ii) the authorization of the performance of
all obligations of the Company hereunder or thereunder, and (iii) the issuance and delivery of the Additional Warrants and the
shares of Common Stock issuable upon exercise of the Additional Warrants (the “Warrant Shares”).

 

3.2.       This
Agreement constitutes the legal, valid and binding obligation of the Company, enforceable against the Company in accordance with
its terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability,
relating to or affecting creditors’ rights generally and to general equitable principles and except as rights to indemnity
and contribution may be limited by state or federal securities laws or public policy.

 

3.3.       Upon
the due exercise of the Registered Warrants pursuant to this Agreement and the Additional Warrants in accordance with their terms,
the Exercised Shares and the Warrant Shares will be validly issued, fully paid and non-assessable free and clear of any liens
and encumbrances, except for restrictions on transfer set forth in the Transaction Documents pursuant to which the Registered
Warrants were originally issued or the Additional Warrants or imposed by applicable securities laws and except for those created
by the Warrant Holder. The Company has reserved a sufficient number of shares of Common Stock for issuance upon the exercise of
the Registered Warrants and the Additional Warrants.

 

3.4.       The
authorization, execution, delivery and performance of this Agreement, and the other Transaction Documents require no consent of,
action by or in respect of, or filing with, any person, entity, governmental body, agency, or official other than the consent
of the holders of a majority of the outstanding Registered Warrants, the consent of certain of the Company’s senior secured
lenders, the filing of a Listing of Additional Shares notification with the Nasdaq Capital Market and filings that will be made
pursuant to applicable state securities laws and post-sale filings pursuant to applicable state and federal securities laws which
the Company undertakes to file within the applicable time periods. Subject to the accuracy of the representations and warranties
of the Warrant Holders set forth in Section 4 hereof, the Company has taken all action necessary to exempt the offer and sale
of the Additional Warrants and upon exercise in accordance with the terms of the Additional Warrants, the Warrant Shares from
the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”).

 

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4.     Representations
and Warranties of the Warrant Holder. Each Warrant Holder hereby represents and warrants to the Company as follows:

 

4.1.       If
the Warrant Holder is an entity, the Warrant Holder is a validly existing corporation, limited partnership or limited liability
company and has all requisite corporate, partnership or limited liability company power and authority to enter into this Agreement
and the other Transaction Documents, as applicable, and to perform its obligations hereunder and thereunder. If the Warrant Holder
is an individual, the Warrant Holder is legally competent and has the legal capacity to enter into this Agreement and to perform
his or her obligations hereunder.

 

4.2.       The
execution, delivery and performance by the Warrant Holder of this Agreement and the other Transaction Documents, as applicable,
have been duly authorized and this Agreement and each other Transaction Document, as applicable constitutes the valid and legally
binding obligation of the Warrant Holder, enforceable against the Warrant Holder in accordance with its terms, subject to bankruptcy,
insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability, relating to or affecting
creditors’ rights generally.

 

4.3.       The
Warrant Holder is an “accredited investor,” as such term is defined by Rule 501 of Regulation D.

 

4.4.       The
Warrant Holder owns the Registered Warrants beneficially and of record, free and clear of any liens, pledges, options, security
interests, claims, third party rights, charges or any other restrictions or encumbrances of any nature whatsoever (“Encumbrance”),
other than restrictions upon transferability of the Registered Warrants arising under applicable securities laws. There are no
agreements (i) granting any option, warrant or right of first refusal with respect to the Warrants or Additional Warrants to any
person or entity, (ii) restricting the right of the Warrant Holder to exercise the Warrants or Additional Warrants in accordance
with their terms and the terms of this Agreement, or (iii) restricting any other right of the Warrant Holder with respect to the
Warrants or Additional Warrants. Except as provided below, the Warrant Holder shall not (i) transfer, or consent to any transfer
of, any or all of the Additional Warrants or any interest therein, or create or permit to exist any Encumbrance on the Additional
Warrants, (ii) enter into any contract, option or other agreement or understanding with respect to any transfer of any or all
of such Additional Warrants, or (iii) take any other action that would in any way restrict, limit or interfere with the performance
of its obligations hereunder; provided, however, that the Warrant Holder shall have the right to sell
or otherwise transfer some or all of its Additional Warrants to another person or entity provided, that (i) such sale or transfer
complies with applicable securities laws, and (ii) the transferee enters into an agreement reasonably satisfactory to the Company
agreeing to be bound by the terms of the Additional Warrant so sold or transferred to it. The Warrant Holder hereby acknowledges
that the Company shall be entitled to refuse to effect the transfer of any Additional Warrants not in compliance with the terms
of this Agreement and the Additional Warrants.

 

4.5        Neither
the Warrant Holder nor the Warrant Holder’s respective officers, directors or employees, has employed any broker or finder
or incurred any liability for any brokerage fees, commissions or finder’s fees in connection with the transactions contemplated
by this Agreement or the other Transaction Documents for which the Company (or any of its subsidiaries) is responsible.

 

5.     Additional
Amendments. Except for any adjustments permitted in accordance with Section 4 of the Warrant Agency Agreement, as amended,
the Company covenants and agrees that it will not take any action to further reduce the Amended Exercise Price of the Registered
Warrants without the written consent of the Warrant Holders holding a majority of the then outstanding Exercised Shares.

 

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

 

7.     Entire
Agreement; Amendment. This Agreement and the Transaction Documents constitute the entire agreement between the Company and
the Warrant Holders regarding the subject matter hereof and supersede all prior agreements and understandings, oral or written,
between them with respect to the subject matter hereof. This Agreement may only be amended by an agreement in writing executed
by the Warrant Holders holding a majority of then outstanding Exercised Shares.

 

8.     Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Nevada, without regards
to the choice of laws principles thereof.

 

[SIGNATURE
PAGE FOLLOWS]

 

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

 

	INPIXON	 
	 	 
	By:	        	 
	Name:	Nadir Ali

	 
	Title:	Chief Executive Officer

	 

 

    	 	4	 

     

    

 

WARRANT
HOLDER

 

	 	 
	

Warrant
Holder Name

	 

 

	By:	            	 
	Name:	 	 
	Title:	 	 

 

Number
of Registered Warrants owned by the Warrant Holder:

 

______________________________________

 

Number
of Exercised Shares underlying Registered Warrants:

 

______________________________________

 

Number
of Additional Warrants

 

______________________________________ 

 

Total
Purchase Price for all Exercised Shares: $____________

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[WARRANT
HOLDER SIGNATURE PAGE]

 

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Exhibit
A

 

Warrant
Agency Amendment

 

AMENDMENT
NO. 1 TO

THE
WARRANT AGENCY AGREEMENT 

 

This
Amendment No. 1 to the Warrant Agency Agreement (this “Amendment”), is made and entered into effective as of
August 9, 2017, by and between Inpixon, a Nevada corporation, with offices at 2479 E. Bayshore Road, Suite 195, Palo Alto, CA
94303 (the “Company”), and Corporate Stock Transfer Inc., with offices at 3200 Cherry Creek S Dr # 430, Denver,
CO 80209 (the “Warrant Agent”).

 

RECITALS:

 

A.         The Company has engaged the Warrant Agent to act as the Company’s agent in connection with the issuance, registration, transfer,
exchange and exercise of warrants (the “Registered Warrants”) issued in accordance with that certain warrant
agency agreement by and between the Company and the Warrant Agent, dated as of June 30, 2017 (the “Warrant Agreement”).

 

B.          The Registered Warrants are exercisable for shares of the Company’s common stock at an exercise price of $1.3125 per share
(the “Exercise Price”).

 

C.          In order to induce certain holders of the Registered Warrants (the “Warrant Holders”) to exercise the Registered
Warrants as described in that certain warrant exercise agreement dated as of the same date of this Amendment (the “Warrant
Exercise Agreement”), the Company has agreed to amend the Warrant Agreement to reduce the Exercise Price of the Registered
Warrants to $0.30 (the “Amended Exercise Price”), subject to the terms and conditions provided in the Warrant
Exercise Agreement.

 

D.          Pursuant to Section 1 of the Warrant Exercise Agreement and as set forth on the signature page to this Amendment, as required
by Section 9.8 of the Warrant Agreement, the Underwriter (as such terms is defined in the Warrant Agreement) and the Warrant Holders
representing a majority of the outstanding Registered Warrants have agreed and consented to this Amendment for the purpose of
reducing the Exercise Price of the Registered Warrants to the Amended Exercise Price.

 

E.          Capitalized
terms used in this Amendment shall have the meaning given to those terms in the Warrant Agreement, unless this Amendment provides
otherwise.

 

NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is acknowledged by the parties hereto, the
parties hereto hereby amend the Warrant Agreement and agree, as follows:

 

1.           Amendment to Section 3.1 of the Warrant Agency Agreement. Section 3.1 of the Warrant Agreement is hereby deleted in its
entirety and replaced with the following:

 

“3.1
Exercise Price. Each Warrant shall entitle the registered holder thereof, subject to the provisions of such Warrant and
of this Warrant Agreement, to purchase from the Company the number of shares of Common Stock stated therein, at the price of $0.30
per whole share, subject to the subsequent adjustments provided in Section 4 hereof. The term “Exercise Price” as
used in this Warrant Agreement refers to the price per share at which Common Stock may be purchased at the time a Warrant is exercised.”

 

2.           Amendment to Section 4.4 of the Warrant Agreement. Section 4.4 of the Warrant Agreement is hereby deleted in its entirety
and replaced with the following:

 

“4.4 Reserved.”

 

3.           Ratification of Warrant Agreement. Except as specifically modified by this Amendment, all other terms and provisions of
the Warrant Agreement shall remain unchanged and in full force and effect.

 

4.           Separate Counterparts. This Amendment may be executed in one or more separate counterparts, each of which when so executed,
shall be deemed to be an original. Such counterparts shall, together, constitute and be one and the same instrument. Electronic
copies of executed signature pages (whether in .pdf or facsimile format or otherwise) to this Amendment shall have the same effect
as “ink” original signature pages.

 

[Signature
Page Follows.]

 

    	 		 

     

    

 

IN
WITNESS WHEREOF, the parties hereto executed this Amendment as of August 9, 2017.

 

	INPIXON	 
	 	 	 
	By:	/s/
    Nadir
    Ali 	 
	Name:	Nadir
    Ali	 
	Title:	CEO	 

 

	CORPORATE STOCK TRANSFER INC.	 
	 	 	 
	By:	                         	 
	Name:	 	 
	Title:	 	 

 

In
accordance with Section 9.8 of the Warrant Agency Agreement the undersigned, together with the hereby acknowledges and consents
to this Amendment:

 

	AEGIS
    CAPITAL CORP.	 
	 	 	 
	By:	                         	 
	Name:	 	 
	Title:	 	 

 

    	 		 

     

    

 

Exhibit
B

 

Additional
WarrantExhibit 10.2

 

WAIVER AND CONSENT
AGREEMENT

 

This WAIVER AND CONSENT
AGREEMENT (this “Agreement”) is made and entered into as of August 9, 2017 by and between Inpixon, a Nevada corporation
(the “Company”), and Hillair Capital Investments L.P. (“Hillair”). In this Agreement, the Company and Hillair
are sometimes referred to singularly as a “party” and collectively as the “parties”. Capitalized terms
not otherwise defined herein shall have the meanings set forth in the Debenture (as defined below).

 

WHEREAS, the
Company entered into that certain securities purchase agreement with Hillair, dated as of August 9, 2016 (the “SPA”),
pursuant to which the Company issued to Hillair an 8% Original Issue Discount Senior Convertible Debenture in an aggregate principal
amount of $5,700,000 due on August 9, 2018 (the “Debenture”); and

 

WHEREAS, the
Company desires to enter into a warrant exercise agreement (the “Warrant Exercise Agreement”) with certain warrant
holders of the Company (the “Warrant Holders”), pursuant to which the Warrant Holders will agree to exercise in whole
or in part warrants (the “Registered Warrants”) issued pursuant to that certain Warrant Agency Agreement, dated as
of June 30, 2017, by and between the Company and Corporate Stock Transfer as warrant agent (the “Warrant Agreement”),
provided that the Company will agree to reduce the exercise price of the Registered Warrants from $1.3125 to $0.30 per share in
accordance with the terms of an Amendment No. 1 to the Warrant Agreement attached as Exhibit A to the Warrant Exercise Agreement
(the “Amendment”); and (2) the Company will issue additional warrants to purchase common stock of the Company at an
exercise price of $0.55 per share (the “Additional Warrants”), subject to the terms and conditions in the Warrant Exercise
Agreement (collectively, the “Contemplated Transactions”); and

 

WHEREAS, pursuant
to Section 4.13(b) of the SPA, the Company has agreed not to sell, offer to sell or solicit offers to buy or otherwise negotiate
to issue, issue, enter into any agreement to issue, or announce the issuance or proposed issuance of any common stock or common
stock equivalents for an effective per share price that is less than $7.05 (subject to adjustments permitted by the SPA) (the “Floor
Price”) (the “Price-Based Issuance Prohibition”).

 

NOW, THEREFORE,
in consideration of the mutual covenants of the parties as hereinafter set forth and for other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, the parties hereby agree as follows:

 

AGREEMENT

 

1.     Waiver of Price Based Issuance Prohibition. Hillair hereby waives the Price-Based Issuance Prohibition as set forth
in Section 4.13(b) of the SPA solely in connection with the Contemplated Transactions.

 

2.     Consent to the Amendment. In accordance with Section 9.8 of the Warrant Agreement, as a holder of Registered Warrants,
the Company hereby consents to the Warrant Amendment.

 

3.     Limitation of Waiver. The above waiver shall not be deemed to be continuing waiver of the provisions of Section 4.13(b)
of the SPA. The waiver provided for in this Agreement is a one-time waiver and limited to the matters expressly waived herein and
should not be construed as an indication that Hillair would be willing to agree to any future modifications to, or waiver of, any
of the terms of the SPA, the Debenture, or any modifications to, or waiver of, any default that may exist or occur thereunder.

 

     

     

    

 

4.     Effect on SPA and Debenture. Except as expressly set forth above, the terms and conditions of the SPA and the Debenture
shall remain in full force and effect and each of the parties reserves all rights with respect to any other matters and remedies.

 

5.     Miscellaneous.

 

a.     Except
as may be provided by the Contemplated Transactions, this Agreement contains the entire agreement of Hillair and the Company with
respect to the subject matter hereof and supersedes all prior agreements and understandings, oral or written, with respect to
such matters. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and permitted
assigns. This Agreement may not be amended, modified or supplemented, and no provision of this Agreement may be waived, other
than by a written instrument duly executed and delivered by a duly authorized officer of each party hereto.

 

b.     All
questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by and construed
and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of law
thereof. Each party agrees that all legal proceedings concerning the interpretations, enforcement and defense of the transactions
contemplated by this Agreement (whether brought against a party hereto or its respective affiliates, directors, officers, shareholders,
partners, members, employees or agents) shall be commenced exclusively in the state and federal courts sitting in the City of
New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the City
of New York, Borough of Manhattan for the adjudication of any dispute hereunder or in connection herewith or with any transaction
contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any action or proceeding,
any claim that it is not personally subject to the jurisdiction of any such court, that such action or proceeding is improper
or is an inconvenient venue for such proceeding. Each party hereby irrevocably waives personal service of process and consents
to process being served in any such action or proceeding by mailing a copy thereof via registered or certified mail or overnight
delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement and agrees
that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be
deemed to limit in any way any right to serve process in any other manner permitted by law. If any party hereto shall commence
an action or proceeding to enforce any provisions of this Agreement, then, the prevailing party in such action or proceeding shall
be reimbursed by the non-prevailing party for its reasonable attorneys’ fees and other costs and expenses incurred with
the investigation, preparation and prosecution of such action or proceeding.

 

c.     This
Agreement may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original and,
all of which taken together shall constitute one and the same Agreement. In the event that any signature is delivered by facsimile
transmission, such signature shall create a valid binding obligation of the party executing (or on whose behalf such signature
is executed) the same with the same force and effect as if such facsimile signature were the original thereof.

 

[SIGNATURE PAGE FOLLOWS]

 

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IN WITNESS WHEREOF,
the parties hereto have caused this Agreement to be duly executed on the day and year first above written.

 

	 	INPIXON
	 	 	 
	 	By:	/s/  Nadir Ali
	 		Name: Nadir Ali
	 	 	Title: CEO

  

 

 

 

[SIGNATURE PAGE OF HILLAIR FOLLOWS]

 

    	 	3	 

     

    

 

HILLAIR
CAPITAL INVESTMENTS L.P.

	 
	By:	 	 

Name:

Authorized Signatory

 

 

 

 

 

 

 

 

[HILLAIR
SIGNATURE PAGE TO INPIXON AGREEMENT AND WAIVER]

 

4

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