Document:

Exhibit 10.5

 

Execution
    Version

  

FORM
OF AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT

 

THIS
AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT (this “Agreement”), dated as of [__], 2021,
is made and entered into by and among CM Life Sciences, Inc., a Delaware corporation (the “Company”),
CMLS Holdings LLC, a Delaware limited liability company (the “Sponsor”), the undersigned parties
listed on the signature page hereto under “Existing Holders” (the “Existing Holders”), the
undersigned parties listed on the signature page hereto as “New Holders” (the “New Holders”
and, together with the Existing Holders and any person or entity who hereafter becomes a party to this Agreement pursuant to Section
5.2 of this Agreement, a “Holder” and collectively, the “Holders”).

 

RECITALS

 

WHEREAS,
on September 1, 2020, the Company and the Sponsor entered into that certain Registration Rights Agreement (the “Existing
Registration Rights Agreement”), pursuant to which the Company granted the Existing Holders certain registration
rights with respect to certain securities of the Company;

 

WHEREAS,
the Company has entered into that certain Agreement and Plan of Merger (the “Merger Agreement”), dated
as of February 9, 2021, by and among the Company, S-IV Sub, Inc., a Delaware corporation, and Mount Sinai Genomics D/B/A Sema4,
a Delaware corporation (“Target”);

 

WHEREAS,
upon the closing of the transactions contemplated by the Merger Agreement and subject to the terms and conditions set forth therein,
the Existing Holders and New Holders will hold shares of Class A common stock, par value $0.0001 per share, of the Company (“Class
A Common Stock”), in each case, in such amounts and subject to such terms and conditions as set forth in the Merger
Agreement;

 

WHEREAS,
in connection with the transactions contemplated by the Merger Agreement, the Company is conducting a private placement of its
Class A Common Stock (the “PIPE Investment”) pursuant to the terms of one or more Subscription Agreements,
and certain Holders may purchase additional shares of Class A Common Stock pursuant thereto (the “PIPE Shares”);

 

WHEREAS,
certain New Holders may receive additional shares of Class A Common Stock (the “Earnout Shares”) pursuant
to certain provisions in the Merger Agreement;

 

WHEREAS,
pursuant to Section 5.5 of the Existing Registration Rights Agreement, the provisions, covenants and conditions set forth
therein may be amended or modified upon the written consent of the Company and the holders of a majority-in-interest of the “Registrable
Securities” (as such term is defined in the Existing Registration Rights Agreement) at the time in question;

 

WHEREAS,
the Target and certain of the signatories hereto are parties to that certain Second Amended and Restated Stockholders Agreement,
among Mount Sinai Genomics, Inc. d/b/a Sema4 and the Stockholders named therein, dated as of July 27, 2020 (the “Stockholders’
Agreement”) and that certain Registration Rights Agreement, by and between Icahn School of Medicine at Mount Sinai
and Mount Sinai Genomics, Inc., dated as of March 28, 2016 (the “ISMMS Registration Rights Agreement”);

 

WHEREAS,
as inducement for the Company, the Target and Merger Sub to enter into the Merger Agreement, the Target and the New Holders will
agree that, effective at the Closing Date, the Stockholders’ Agreement, the ISMMS Registration Rights Agreement and certain
other agreements with the Target will terminate and be of no further force and effect; and

 

     

     

    

 

WHEREAS,
the Company and Sponsor desire to amend and restate the Existing Registration Rights Agreement in its entirety in order to provide
the Existing Holders and the New Holders certain registration rights with respect to certain securities of the Company, as set
forth in this Agreement.

 

NOW,
THEREFORE, in consideration of the representations, covenants and agreements contained herein, and certain other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally
bound, hereby agree as follows:

 

Article
I

DEFINITIONS

 

Section
1.1 Definitions. The terms defined
in this Article I shall, for all purposes of this Agreement, have the respective meanings set forth below:

 

“Agreed
Disclosure Process” shall have the meaning given in subsection 3.5.4.

 

“Adverse
Disclosure” shall mean any public disclosure of material non-public information the disclosure of which, in the
good-faith determination of the Company, after consultation with counsel to the Company, (i) would be required to be made in any
Registration Statement or Prospectus in order for the applicable Registration Statement or Prospectus not to contain any Misstatement,
(ii) would not be required to be made at such time if the Registration Statement were not being filed, and (iii) which the Company
has a bona fide business purpose for not making public.

 

“Affiliate”
means, with respect to any Person, any other Person who, directly or indirectly, controls, is controlled by, or is under direct
or indirect common control with, such Person, and, in the case of an individual, also includes any member of such individual’s
Immediate Family; provided that the Company and its subsidiaries will not be deemed to be Affiliates of any holder of Registrable
Securities. As used in this definition, “control,” (including, with its correlative meanings, “controlling,”
“controlled by” and “under common control”) shall mean possession, directly or indirectly, of power to
direct or cause the direction of the management and policies of a Person, directly or indirectly, whether through ownership of
voting securities or partnership or other ownership interests, by contract or otherwise.

 

“Agreement”
shall have the meaning given in the Preamble.

 

“Block
Trade” means an offering or sale of Registrable Securities by any Holder on a block trade or underwritten basis
(whether firm commitment or otherwise) effected pursuant to a Registration Statement without substantial marketing efforts prior
to pricing, including, without limitation, a same day trade, overnight trade or similar transaction.

 

“Board”
shall mean the Board of Directors of the Company.

 

“Business
Day” shall mean a day that is not a Saturday or Sunday or a day on which banks in New York City are authorized or
requested by law to close.

 

“Class
A Common Stock” shall have the meaning given in the Recitals hereto.

 

“Class
B Common Stock” shall mean Class B common stock, par value $0.0001 per share, of the Company.

 

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“Closing
Date” shall mean the date of the consummation of the transactions contemplated by the Merger Agreement.

 

“Commission”
shall mean the Securities and Exchange Commission.

 

“Commission’s
Notice” shall have the meaning given in subsection 2.1.5.

 

“Company”
shall have the meaning given in the Preamble.

 

“Company
Shelf Takedown Notice” shall have the meaning given in subsection 2.1.3.

 

“Demand
Registration” shall have the meaning given in subsection 2.2.1.

 

“Demanding
Holders” shall mean, as applicable, (a) the Existing Holders of at least a majority in interest of the then-outstanding
number of Registrable Securities held by the Existing Holders, (b) the New Holders of at least a majority in interest of the then-outstanding
number of Registrable Securities held by the New Holders or (c) any Holder meeting the Minimum Amount.

 

“DTC”
shall have the meaning given in subsection 3.1.17.

 

“DWAC”
shall have the meaning given in subsection 3.1.17.

 

“Earnout
Shares” shall have the meaning given in the Recitals hereto.

 

“Effectiveness
Deadline” shall have the meaning given in subsection 2.1.1.

 

“Exchange
Act” shall mean the Securities Exchange Act of 1934, as it may be amended from time to time.

 

“Existing
Registration Rights Agreement” shall have the meaning given in the Recitals hereto.

 

“Founder
Shares” shall mean all shares of Class B Common Stock that are issued and outstanding as of the date hereof and
all shares of Class A Common Stock issued upon conversion thereof.

 

“Founder
Shares Lock-up Period” shall mean, with respect to the Founder Shares held by the Existing Holders or their Permitted
Transferees, the period ending on the earlier of (a) one year after the Closing Date, (b) the first date that the closing price
of the Class A Common Stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations,
recapitalizations and the like) for any twenty (20) trading days within any thirty (30)-trading-day period commencing at least
one hundred and fifty (150) days after the Closing Date, and (c) the date on which the Company completes a liquidation, merger,
capital stock exchange, reorganization or other similar transaction that results in all of the Company’s stockholders having
the right to exchange their shares of Class A Common Stock for cash, securities or other property.

 

“Form
S-3 Shelf” shall have the meaning given in subsection 2.1.2.

 

“Holders”
shall mean the Existing Holders and the New Holders and any person or entity who hereafter becomes a party to this Agreement pursuant
to Section 5.2.

 

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“Immediate
Family” shall mean any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, sibling, mother-in-law,
father-in-law, son-in-law, daughter-in-law, brother-in-law, sister-in-law and shall include adoptive relationships.

 

“Initial
Shelf” shall have the meaning given in subsection 2.1.1.

 

“Insider
Letter” shall mean that certain letter agreement, dated as of September 1, 2020, by and among the Company, the Sponsor
and each of the Company’s officers, directors and director nominees.

 

“ISMMS
Registration Rights Agreement” shall have the meaning given in the Recitals hereto.

 

“Maximum
Number of Securities” shall have the meaning given in subsection 2.2.4.

 

“Merger
Agreement” shall have the meaning given in the Recitals hereto.

 

“Minimum
Amount” shall have the meaning given in subsection 2.1.3.

 

“Misstatement”
shall mean an untrue statement of a material fact or an omission to state a material fact required to be stated in a Registration
Statement or Prospectus or necessary to make the statements in a Registration Statement or Prospectus, (in the case of any Prospectus
in the light of the circumstances under which they were made) not misleading.

 

“MNPI
Provisions” shall have meaning given in subsection 2.1.3.

 

“Nasdaq”
shall have the meaning given in subsection 3.1.4.

 

“Necessary
Disclosure” shall have the meaning given in subsection 3.5.4.

 

“New
Holder(s)” shall have the meaning given in the Preamble.

 

“New
Registration Statement” shall have the meaning given in subsection 2.1.5.

 

“Permitted
Transferees” shall mean (a) with respect to an Existing Holder, any Person to whom a Holder of Registrable Securities
is permitted to transfer such Registrable Securities prior to the expiration of the Founder Shares Lock-up Period, Private Placement
Lock-Up Period or any other lock-up period, as the case may be, under the Insider Letter, the Private Placement Warrants Purchase
Agreement, this Agreement and any other applicable agreement between such Existing Holder and the Company, and to any transferee
thereafter; and (b) with respect to a New Holder, (i) in the case of an individual, any Person to whom a Holder transfers Registrable
Securities (1) by gift to a member of the individual’s Immediate Family, to a trust, the beneficiary of which is a member
of the individual’s Immediate Family or an Affiliate of such Person, or to a charitable organization, (2) by virtue of laws
of descent and distribution upon death of the individual and (3) pursuant to a qualified domestic relations order; or (ii) in
the case of an entity, any Person to whom a Holder transfers Registrable Securities (1) by distribution to such entity’s
members, partners, stockholders or equityholders, (2) to any of such entity’s Affiliates or to any fund or other entity
controlled or managed by such entity or any of its Affiliates, or to investment manager or investment advisor of such entity or
an Affiliate of any such investment manager or investment advisor, and (3) to a nominee or custodian of a person or entity to
whom a disposition or transfer would be permissible under clause (b) of this definition, provided that such transferee
to which a transfer is being made pursuant to clause (a) or (b) above, if not a Holder, enters into a written agreement
with the Company agreeing to be bound by the restrictions, including restrictions specific to certain holders, herein.

 

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“Person”
shall mean any individual, corporation, partnership, limited liability company, unincorporated association or other legal entity
or business organization.

 

“Piggyback
Registration” shall have the meaning given in subsection 2.3.1.

 

“Private
Placement Lock-up Period” shall mean, with respect to Private Placement Warrants that are held by the initial purchasers
of such Private Placement Warrants or their Permitted Transferees, the Private Placement Warrants and shares of Class A Common
Stock issuable upon the exercise or conversion of the Private Placement Warrants, and that are held by the initial purchasers
of the Private Placement Warrants or their Permitted Transferees, the period ending thirty (30) days after the Closing Date.

 

“Private
Placement Warrants” shall mean the warrants to purchase shares of Class A Common Stock purchased by the Sponsor
pursuant to the Private Placement Warrants Purchase Agreement.

 

“Private
Placement Warrants Purchase Agreement” shall mean that certain Private Placement Warrants Purchase Agreement by
and between the Company and the Sponsor, dated as of September 1, 2020.

 

“Pro
Rata” shall have the meaning given in subsection 2.2.4.

 

“Prospectus”
shall mean the prospectus included in any Registration Statement, including any preliminary prospectus and free writing prospectus,
in each case, as supplemented by any and all prospectus supplements and as amended by any and all post-effective amendments and
including all material incorporated by reference in such prospectus.

 

“Registrable
Security” shall mean (a) the Founder Shares and the shares of Class A Common Stock issued or issuable upon the conversion
of the Founder Shares, (b) the Private Placement Warrants (including any shares of Class A Common Stock issued or issuable upon
the exercise of the Private Placement Warrants), (c) any issued and outstanding shares of Class A Common Stock or any other equity
security (including the shares of Class A Common Stock issued or issuable upon the exercise of any other equity security) of the
Company held by a Holder as of the date of this Agreement, (d) any equity securities (including the shares of Class A Common Stock
issued or issuable upon the exercise of any such equity security) of the Company issuable upon conversion of any working capital
loans in an amount up to $1,500,000 made to the Company by a Holder (including the Working Capital Warrants and shares of Class
A Common Stock issued or issuable upon the exercise of the Working Capital Warrants), (e) any outstanding shares of Class A Common
Stock or any other equity security of the Company held by a New Holder issued in connection with the transactions contemplated
by the Merger Agreement (including any Earnout Shares), (f) any PIPE Shares, (g) any other equity securities (including shares
of Class A Common Stock) of the Company held by a New Holder at the Closing Date and (h) any other equity security of the Company
issued or issuable with respect to any such share of Class A Common Stock by way of a stock dividend or stock split or in connection
with a combination of shares, recapitalization, merger, consolidation or reorganization; provided, however, that,
as to any particular Registrable Security, such securities shall cease to be Registrable Securities when: (i) a Registration Statement
with respect to the sale of such securities shall have become effective under the Securities Act and such securities shall have
been sold, transferred, disposed of or exchanged in accordance with such Registration Statement; (ii) such securities shall have
ceased to be outstanding; (iii) such securities have been otherwise transferred, new certificates for such securities not bearing
a legend restricting further transfer shall have been delivered by the Company and subsequent public distribution of such securities
shall not require registration under the Securities Act; (iv) with respect to a Holder, all such securities held by such Holder
could be sold pursuant to Rule 144 promulgated under the Securities Act (or any successor rule promulgated thereafter by the Commission)
without restriction on volume or manner of sale in any three-month period and without the requirement for the Company to be in
compliance with the public information required under Rule 144; or (v) such securities have been sold to, or through, a broker,
dealer or underwriter in a public distribution or other public securities transaction. For purposes of this Agreement, a Person
shall be deemed to be a holder of Registrable Securities, and the Registrable Securities shall be deemed to be in existence, whenever
such Person holds such Registrable Securities of record or in “street name” or has the right to acquire directly or
indirectly such Registrable Securities (upon conversion or exercise in connection with a transfer of securities or otherwise,
but disregarding any restrictions or limitations upon the exercise of such right and, in the case of Registrable Securities issuable
upon exercise of warrants, assuming the exercise thereof for cash), whether or not such acquisition has actually been effected,
and such Person shall be entitled to exercise the rights of a holder of Registrable Securities hereunder; provided a holder of
Registrable Securities may only request that Registrable Securities in the form of Class A Common Stock be registered pursuant
to this Agreement.

 

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“Registration”
shall mean a registration effected by preparing and filing a registration statement or similar document in compliance with the
requirements of the Securities Act, and the applicable rules and regulations promulgated thereunder, and such registration statement
becoming effective.

 

“Registration
Date” shall have the meaning given in subsection 3.5.2.

 

“Registration
Expenses” shall mean the out-of-pocket expenses of a Registration, including, without limitation, the following:

 

(a)
all registration, qualification and filing fees (including fees with respect to filings required to be made with the Financial
Industry Regulatory Authority, Inc.) and any securities exchange on which the Class A Common Stock is then listed;

 

(b)
fees and expenses of compliance with securities or blue sky laws (including reasonable fees and disbursements of counsel for the
Underwriters in connection with blue sky qualifications of Registrable Securities);

 

(c)
printing, messenger, telephone and delivery expenses;

 

(d)
reasonable fees and disbursements of counsel for the Company;

 

(e)
reasonable fees and disbursements of all independent registered public accountants of the Company incurred specifically in connection
with such Registration; and

 

(f)  
reasonable fees and expenses of one (1) legal counsel selected by the Demanding Holders, not to exceed $75,000.

 

“Registration
Statement” shall mean any registration statement that covers the Registrable Securities pursuant to the provisions
of this Agreement, including the Prospectus included in such registration statement, amendments (including post-effective amendments)
and supplements to such registration statement, and all exhibits to and all material incorporated by reference in such registration
statement.

 

“Registration
Trigger Date” shall have the meaning given in subsection 2.1.6.

 

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“Requesting
Holder” shall have the meaning given in subsection 2.2.1.

 

“SEC
Guidance” shall have the meaning given in subsection 2.1.5.

 

“Securities
Act” shall mean the Securities Act of 1933, as amended, and the rules and regulations of the Commission promulgated
thereafter, all as the same shall be in effect from time to time.

 

“Shelf
Take Down Notice” shall have the meaning given in subsection 2.1.3.

 

“Shelf
Underwritten Offering” shall mean an underwritten offering that is registered pursuant to a Shelf, including a Block
Trade.

 

“Sponsor”
shall have the meaning given in the Preamble.

 

“Subscription
Agreements” shall means those certain subscription agreements dated February 9, 2021 by and between the Company
and certain subscribers to shares of Class A Common Stock.

 

“Suspension
Event” shall have the meaning given in Section 3.4.

 

“Suspension
Notice” shall have the meaning given in Section 3.4.

 

“Trading
Day” shall have the meaning given in subsection 2.1.6.

 

“Underwriter”
shall mean a securities dealer who purchases any Registrable Securities as principal in an Underwritten Offering and not as part
of such dealer’s market-making activities.

 

“Underwritten
Registration” or “Underwritten Offering” shall mean a Registration in which securities
of the Company are sold to an Underwriter in a firm commitment underwriting for distribution to the public.

 

“Unrestricted
Conditions” shall have the meaning given in subsection 3.5.2.

 

Article
II

REGISTRATIONS

 

Section
2.1 Shelf Registration.

 

2.1.1
The Company shall, as soon as practicable, but in any event within thirty (30) days after the Closing Date (the “Filing
Deadline”), file a Registration Statement under the Securities Act (the “Initial Shelf”)
to permit the public resale of all the Registrable Securities held by the Holders from time to time as permitted by Rule 415 under
the Securities Act (or any successor or similar provision adopted by the Commission then in effect) on the terms and conditions
specified in this subsection 2.1.1 and shall use its commercially reasonable efforts to cause such Initial Shelf to
be declared effective as soon as practicable after the filing thereof, but in no event later than the earlier of (i) sixty (60)
days following the Filing Deadline and (ii) five (5) Business Days after the Commission notifies the Company that it will not
review the Initial Shelf, if applicable (the “Effectiveness Deadline”); provided that the Effectiveness
Deadline shall be extended to ninety (90) days after the Filing Deadline if the Initial Shelf is reviewed by, and receives comments
from, the Commission. Without limiting the foregoing, as soon as practicable, but in no event later than three (3) Business Days,
following the resolution or clearance of all Commission comments or, if applicable, following notification by the Commission that
the Initial Shelf or any amendment thereto will not be subject to review, the Company shall file a request for acceleration of
effectiveness of such Initial Shelf (to the extent required, by declaration or ordering of effectiveness, of such Initial Shelf
or amendment thereto by the Commission) to a time and date not later than two (2) Business Days after the submission of such request.
The Initial Shelf filed with the Commission pursuant to this subsection 2.1.1 shall be on Form S-1 or such other form of
registration statement as is then available to effect a registration for resale of the Registrable Securities, provided, that
the Company shall file, within thirty (30) days of such time as Form S-3 is available for the Initial Shelf, a post-effective
amendment to the Initial Shelf then in effect, or otherwise file a Registration Statement on Form S-3, registering the Registrable
Securities for resale on Form S-3 (provided that the Company shall use commercially reasonable efforts to maintain the effectiveness
of the Initial Shelf then in effect until such time as a Registration Statement (or post-effective amendment) on Form S-3 covering
such Registrable Securities has been declared effective by the Commission. The Initial Shelf shall cover all Registrable Securities,
and shall contain a Prospectus in such form as permits any Holder to sell such Registrable Securities pursuant to Rule 415 under
the Securities Act (or any successor or similar provision adopted by the Commission then in effect) at any time beginning on the
effective date for such Initial Shelf and the Company shall file with the Commission the final form of such Prospectus pursuant
to Rule 424 (or successor thereto) under the Securities Act no later than the second (2nd) Business Day after the Initial
Shelf becomes effective. The Initial Shelf shall provide for the resale pursuant to any method or combination of methods legally
available to, and requested by, the Holders and shall include a customary “plan of distribution.” The Company shall
use its commercially reasonable efforts to cause the Initial Shelf to remain effective, and to be supplemented and amended to
the extent necessary to ensure that the Initial Shelf is available or, if not available, that another Registration Statement is
available at all times, for the public resale of all the Registrable Securities held by the Holders until all such Registrable
Securities have ceased to be Registrable Securities. As soon as practicable following the effective date of the Initial Shelf,
but in any event within three (3) Business Days of such date, the Company shall notify the Holders of the effectiveness of such
the Initial Shelf.

 

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2.1.2
Form of Registration. If the Company files the Initial Shelf on Form S-3 (a “Form S-3 Shelf”)
and thereafter the Company becomes ineligible to use Form S-3 for secondary sales, the Company shall use its commercially reasonable
efforts to file the Initial Shelf on Form S-1 as promptly as practicable to replace the shelf registration statement that is on
Form S-3 and have the Initial Shelf declared effective as promptly as practicable and to cause such Initial Shelf to remain effective,
and to be supplemented and amended to the extent necessary to ensure that such Initial Shelf is available or, if not available,
that another Registration Statement is available, for the public resale of all the Registrable Securities held by the Holders
until all such Registrable Securities have ceased to be Registrable Securities.

 

2.1.3
Underwritten Shelf Takedowns. At any time and from time to time following the effectiveness of the Initial Shelf, any Holder
may request to sell all or a portion of their Registrable Securities in a Shelf Underwritten Offering; provided that such
Holder(s) reasonably expects to sell Registrable Securities yielding aggregate gross proceeds in excess of $50,000,000 from such
Shelf Underwritten Offering (such amount of Registrable Securities, the “Minimum Amount”). All requests
for a Shelf Underwritten Offering shall be made by giving written notice to the Company (the “Shelf Take Down Notice”).
Each Shelf Take Down Notice shall specify the approximate number of Registrable Securities proposed to be sold in the Shelf Underwritten
Offering and the expected price range (net of underwriting discounts and commissions) of such Shelf Underwritten Offering. Except
with respect to any Registrable Securities distributed by the Sponsor to its members following the expiration of the Founder Shares
Lock-up Period or the Private Placement Lock-up Period, as applicable, within five (5) days after receipt of any Shelf Take Down
Notice, the Company shall, subject to subsections 3.5.3 and 3.5.4 (collectively, the “MNPI Provisions”),
give written notice of such requested Shelf Underwritten Offering to all other Holders of Registrable Securities (the “Company
Shelf Takedown Notice”) and, subject to the provisions of subsection 2.2.4, shall include in such Shelf Underwritten
Offering all Registrable Securities with respect to which the Company has received written requests for inclusion therein, within
five (5) days after sending the Company Shelf Takedown Notice. The Company shall enter into an underwriting agreement in a form
as is customary in Underwritten Offerings of securities by the Company with the managing Underwriter or Underwriters selected
by the Holders holding a majority-in-interest of the Registrable Securities to be included in such Shelf Underwritten Offering
after consultation with, and approval (which shall not be unreasonably withheld, conditioned or delayed) by, the Company and shall
take all such other reasonable actions as are requested by the managing Underwriter or Underwriters in order to expedite or facilitate
the disposition of such Registrable Securities. In connection with any Shelf Underwritten Offering contemplated by this subsection
2.1.3, subject to Section 3.3 and Article IV, the underwriting agreement into which each Holder and the Company
shall enter shall contain such representations, covenants, indemnities and other rights and obligations of the Company and the
selling stockholders as are customary in underwritten offerings of securities by the Company. The New Holders, on the one hand,
and the Existing Holders, on the other hand, may each demand not more than two (2) Shelf Underwritten Offerings pursuant to this
Section 2.1.3 in any 12-month period.

 

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2.1.4
At least ten (10) Business Days prior to the first anticipated filing date of a Registration Statement pursuant to this Article
II, the Company shall use reasonable efforts to notify each Holder in writing (which may be by email) of the information reasonably
necessary about the Holder to include such Holder’s Registrable Securities in such Registration Statement. Notwithstanding
anything else in this Agreement, the Company shall not be obligated to include such Holder’s Registrable Securities to the
extent the Company has not received such information, and received any other reasonably requested agreements or certificates,
on or prior to the third (3rd) Business Day prior to the first anticipated filing date of a Registration Statement
pursuant to this Article II.

 

2.1.5
Notwithstanding the registration obligations set forth in this Section 2, in the event that, despite the Company’s
efforts to include all of the Registrable Securities in any Registration Statement filed pursuant to subsection 2.1.1, the Commission
informs the Company (the “Commission’s Notice”) that all of the Registrable Securities cannot,
as a result of the application of Rule 415 or otherwise, be registered for resale as a secondary offering on a single Registration
Statement, the Company agrees to promptly (i) inform each of the holders thereof and use its commercially reasonable efforts to
file amendments to the Initial Shelf as required by the Commission and (ii) as soon as practicable but in no event later than
the twentieth (20th) day following the first date on which such Registrable Securities may then be included in a Registration
Statement, file an additional Registration Statement (a “New Registration Statement”), on Form S-3,
or if Form S-3 is not then available to the Company for such Registration Statement, on such other form available to register
for resale the Registrable Securities as a secondary offering; provided, however, that prior to filing such amendment or New Registration
Statement, the Company shall be obligated to use its commercially reasonable efforts to advocate with the Commission for the registration
of all of the Registrable Securities in accordance with any publicly-available written or oral guidance, comments, requirements
or requests of the Commission staff (the “SEC Guidance”), including without limitation, the Manual of
Publicly Available Telephone Interpretations D.29. The Holders shall have the right to participate or have their respective legal
counsel participate in any meetings or discussions with the Commission regarding the Commission’s position and to comment
or have their respective counsel comment on any written submission made to the Commission with respect thereto. No such written
submission shall be made to the Commission to which any Holder’s counsel reasonably objects. Notwithstanding any other provision
of this Agreement, if any SEC Guidance sets forth a limitation of the number of Registrable Securities permitted to be registered
on a particular Registration Statement as a secondary offering, unless otherwise directed in writing by a holder as to its Registrable
Securities directing the inclusion of less than such holder’s pro rata amount, the number of Registrable Securities to be
registered on such Registration Statement will be reduced on a pro rata basis based on the total number of Registrable Securities
held by the Holders. In the event the Company amends the Initial Shelf or files a New Registration Statement, as the case may
be, under clauses (i) or (ii) above, the Company will use its commercially reasonable efforts to file with the Commission, as
promptly as allowed by Commission or SEC Guidance provided to the Company or to registrants of securities in general, one or more
Registration Statements on Form S-3 or such other form available to register for resale those Registrable Securities that were
not registered for resale on the Initial Shelf, as amended, or the New Registration Statement.

 

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2.1.6
No Holder shall be named as an “underwriter” in any Registration Statement filed pursuant to this Section 2 without
the Holder’s prior written consent; provided that if the Commission requests that a Holder be identified as a statutory
underwriter in the Registration Statement, then such Holder will have the option, in its sole and absolute discretion, to either
(i) have the opportunity to withdraw from the Registration Statement upon its prompt written request to the Company, in which
case the Company’s obligation to register such Holder’s Registrable Securities shall be deemed satisfied or (ii) be
included as such in the Registration Statement. Each Registration Statement (and each amendment or supplement thereto) shall be
provided to (and shall be subject to the approval, which shall not be unreasonably withheld or delayed, of) the Holders prior
to its filing with, or other submission to, the Commission.

 

2.1.7
In the event that on any Trading Day (as defined below) (the “Registration Trigger Date”) the number
of shares available under the Registration Statements filed pursuant to this Section 2 is insufficient to cover all of the Registrable
Securities (without giving effect to any limitations on the exercise or conversion of any securities exercisable for, or convertible
into, Registrable Securities and, in the case of Registrable Securities issuable upon the exercise of warrants, assuming the exercise
of such warrants for cash), the Company shall amend such Registration Statements, or file a new Registration Statement (on the
short form available therefor, if applicable), or both, so as to cover the total number of Registrable Securities so issued or
issuable (without giving effect to any limitations on the exercise or conversion of any securities exercisable for, or convertible
into, Registrable Securities and, in the case of Registrable Securities issuable upon the exercise of warrants, assuming the exercise
of such warrants for cash) as of the Registration Trigger Date as soon as practicable, but in any event within fifteen (15) days
after the Registration Trigger Date. The Company shall use its commercially reasonable efforts to cause such amendment and/or
new Registration Statement to become effective as soon as practicable following the filing thereof, but in any event no later
than sixty (60) days of the Registration Trigger Date (or ninety (90) days if the applicable Registration Statement or amendment
is reviewed by, and comments are thereto provided from, the Commission) or as promptly as practicable in the event the Company
is required to increase its authorized shares. “Trading Day” shall mean any day on which the Class A
Common Stock is traded for any period on the principal securities exchange or market on which the Class A Common Stock is then
being traded.

 

Section
2.2 Demand Registration.

 

2.2.1
Request for Registration. Subject to the provisions of subsection 2.2.5 and Sections 2.4 and 3.4 hereof,
and provided that the Company does not have an effective Registration Statement pursuant to subsection 2.1.1, outstanding
covering all of the Registrable Securities, following the expiration of the Founder Shares Lock-up Period, the Private Placement
Lock-up Period or any other applicable lock-up period, as the case may be, a Demanding Holder may make a written demand for Registration
of all or part of their Registrable Securities, which written demand shall describe the amount and type of securities to be included
in such Registration and the intended method(s) of distribution thereof (such written demand a “Demand Registration”).
Subject to the MNPI Provisions, the Company shall, within five (5) days of the Company’s receipt of the Demand Registration,
notify, in writing all other Holders of Registrable Securities of such demand, and each Holder of Registrable Securities who thereafter
wishes to include all or a portion of such Holder’s Registrable Securities in a Registration pursuant to a Demand Registration
(each such Holder that includes all or a portion of such Holder’s Registrable Securities in such Registration, a “Requesting
Holder”) shall so notify the Company, in writing, within five (5) days after the receipt by the Holder of the notice
from the Company. Upon receipt by the Company of any such written notification from a Requesting Holder(s) to the Company, subject
to subsection 2.2.4 below, such Requesting Holder(s) shall be entitled to have their Registrable Securities included in
a Registration pursuant to a Demand Registration and the Company shall effect, as soon thereafter as practicable, but not more
than sixty (60) days immediately after the Company’s receipt of the Demand Registration, the Registration of all Registrable
Securities requested by the Demanding Holders and Requesting Holders pursuant to such Demand Registration. Under no circumstances
shall the Company be obligated to effect more than an aggregate of three (3) Registrations pursuant to a Demand Registration by
the Existing Holders and an aggregate of five (5) Registration pursuant to a Demand Registration by the New Holders under this
subsection 2.1.1 with respect to any or all Registrable Securities. Notwithstanding the foregoing, (i) the Company shall
not be required to give effect to a Demand Registration from a Demanding Holder if the Company has registered Registrable Securities
pursuant to a Demand Registration (which has become effective) from such Demanding Holder in the preceding one hundred and twenty
(120) days, and (ii) the Company’s obligations with respect to any Demand Registration shall be deemed satisfied so long
as the Registration Statement filed pursuant to subsection 2.1.1 includes all of such Demanding Holder’s Registrable
Securities and is effective.

 

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2.2.2
Effective Registration. Notwithstanding the provisions of subsection 2.2.1 above or any other part of this Agreement,
a Registration pursuant to a Demand Registration shall not count as a Registration unless and until (a) the Registration Statement
filed with the Commission with respect to a Registration pursuant to a Demand Registration has been declared effective by the
Commission and, (b) the Company has complied with all of its obligations under this Agreement with respect thereto; provided,
further, that if, after such Registration Statement has been declared effective, an offering of Registrable Securities
in a Registration pursuant to a Demand Registration is subsequently interfered with by any stop order or injunction of the Commission,
federal or state court or any other governmental agency, the Registration Statement with respect to such Registration shall be
deemed not to have been declared effective, unless and until, (i) such stop order or injunction is removed, rescinded or otherwise
terminated, and (ii) a majority-in-interest of the Demanding Holders initiating such Demand Registration thereafter affirmatively
elect to continue with such Registration and accordingly notify the Company in writing, but in no event later than five (5) days
thereafter, of such election. The Company shall not be obligated or required to file another Registration Statement until the
Registration Statement that has been previously filed with respect to a Registration pursuant to a Demand Registration by the
same Demanding Holder becomes effective or is subsequently terminated.

 

2.2.3
Underwritten Offering. Subject to the provisions of subsection 2.2.4 and Sections 2.4 and 3.4 hereof,
if a majority-in-interest of the Demanding Holders so advise the Company as part of their Demand Registration that the offering
of the Registrable Securities pursuant to such Demand Registration shall be in the form of an Underwritten Offering, then the
right of such Demanding Holder or Requesting Holder (if any) to include its Registrable Securities in such Registration shall
be conditioned upon such Holder’s participation in such Underwritten Offering and the inclusion of such Holder’s Registrable
Securities in such Underwritten Offering to the extent provided herein. All such Holders proposing to distribute their Registrable
Securities through an Underwritten Offering under this subsection 2.2.3, subject to Section 3.3 and Article IV,
shall enter into an underwriting agreement in customary form with the Company and the Underwriter(s) selected for such Underwritten
Offering by a majority-in-interest of the Demanding Holders initiating the Demand Registration after consultation with, and approval
by, the Company (which shall not be unreasonably withheld, conditioned or delayed).

 

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2.2.4
Reduction of Underwritten Offering. If a Demand Registration is to be an Underwritten Offering and the managing Underwriter
or Underwriters, in good faith, advises the Company, the Demanding Holders and the Requesting Holders (if any) in writing that,
in its opinion, the dollar amount or number of Registrable Securities that the Demanding Holders and the Requesting Holders (if
any) desire to sell, taken together with all other Class A Common Stock or other equity securities that the Company desires to
sell for its own account and the Class A Common Stock, if any, as to which a Registration has been requested pursuant to separate
written contractual piggy-back registration rights held by any other stockholders of the Company who desire to sell, exceeds the
maximum dollar amount or maximum number of equity securities that can be sold in such Underwritten Offering without adversely
affecting the proposed offering price, the timing, the distribution method, or the probability of success of such offering (such
maximum dollar amount or maximum number of such securities, as applicable, the “Maximum Number of Securities”),
then the Company shall include in such Underwritten Offering, as follows:

 

(a)
first, the Registrable Securities of the Demanding Holders and the Requesting Holders (if any) (pro rata based on the respective
number of Registrable Securities held by each Demanding Holder and Requesting Holder (if any) and the aggregate number of Registrable
Securities held by the Demanding Holders and Requesting Holders (such proportion is referred to herein as “Pro Rata”))
that can be sold without exceeding the Maximum Number of Securities;

 

(b)
second, to the extent that the Maximum Number of Securities has not been reached under the foregoing clause (a), the Registrable
Securities of Holders (Pro Rata, based on the respective number of Registrable Securities held by each Holder) exercising their
rights to register their Registrable Securities pursuant to subsection 2.3.1 hereof, without exceeding the Maximum Number of Securities;

 

(c)
third, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (a) and (b),
the Class A Common Stock or other equity securities that the Company desires to sell for its own account, which can be sold without
exceeding the Maximum Number of Securities; and

 

(d)
fourth, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (a), (b) and
(c), the Class A Common Stock or other equity securities of other persons or entities that the Company is obligated to
register in a Registration pursuant to separate written contractual arrangements with such persons and that can be sold without
exceeding the Maximum Number of Securities.

 

2.2.5
Demand Registration Withdrawal. A Demanding Holder or a Requesting Holder shall have the right to withdraw all or a portion
of its Registrable Securities included in a Demand Registration pursuant to subsection 2.2.1 or a Shelf Underwritten Offering
pursuant to subsection 2.1.3 for any or no reason whatsoever upon written notification to the Company and the Underwriter
or Underwriters (if any) of its intention to so withdraw (a) in the case of a Demand Registration not involving an Underwritten
Offering, one (1) Business Day prior to the effectiveness of the applicable Registration Statement or (b) in the case of any Demand
Registration involving an Underwritten Offering or any Shelf Underwritten Offering, prior to the pricing of such Underwritten
Offering or Shelf Underwritten Offering; provided, however, that upon withdrawal by a majority-in-interest of the
Demanding Holders initiating a Demand Registration (or in the case of a Shelf Underwritten Offering, withdrawal of an amount of
Registrable Securities included by the Holders in such Shelf Underwritten Offering, in their capacity as Demanding Holders, being
less than the Minimum Amount), the Company shall cease all efforts to secure effectiveness of the applicable Registration Statement
or complete the Underwritten Offering, as applicable. For the avoidance of doubt, any Demand Registration withdrawn pursuant to
this subsection 2.2.5 shall be counted toward the aggregate number of Demand Registrations the Company is obligated to
effect pursuant to subsection 2.2.1 unless (A)(1) the Demanding Holders reimburse the Company for all of its out-of-pocket
costs and expenses incurred in connection with any such withdrawn Demand Registration incurred through the date of such withdrawal
and (2) such revocation or withdrawal shall have been made prior to the commencement of any marketing efforts or “road shows”
by the Company or the underwriters in connection with such Demand Registration, or (B) such withdrawal or revocation occurs following
the issuance by the Company of a Suspension Notice. Notwithstanding anything to the contrary in this Agreement, the Company shall
be responsible for the Registration Expenses incurred by it in connection with a Registration pursuant to a Demand Registration
or a Shelf Underwritten Offering prior to its withdrawal under this subsection 2.2.5.

 

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Section
2.3 Piggyback Registration.

 

2.3.1
Piggyback Rights. If the Company proposes to file a Registration Statement under the Securities Act with respect to an
offering of equity securities, or securities or other obligations exercisable or exchangeable for, or convertible into equity
securities, for its own account or for the account of stockholders of the Company (or by the Company and by the stockholders of
the Company including, without limitation, pursuant to Section 2.2 hereof), other than a Registration Statement (a) filed
in connection with any employee stock option or other benefit plan, (b) for an exchange offer or offering of securities solely
to the Company’s existing stockholders, (c) for an offering solely of debt that is convertible into equity securities of
the Company, (d) for a dividend reinvestment plan, (e) for any issuances of securities in connection with a transaction involving
a merger, consolidation, sale, exchange, issuance, transfer, reorganization or other extraordinary transaction between the Company
or any of its Affiliates and any third party, or (f) filed pursuant to subsection 2.1.1, then, subject to the MNPI Provisions,
the Company shall give written notice of such proposed filing to all of the Holders of Registrable Securities (excluding the Sponsor
with respect to any Registrable Securities distributed by the Sponsor to its members following the expiration of the Founder Shares
Lock-up Period or the Private Placement Lock-up Period, as applicable) as soon as practicable but not less than twenty (20) days
before the anticipated filing date of such Registration Statement, which notice shall (i) describe the amount and type of securities
to be included in such offering, the intended method(s) of distribution (including whether such registration will be pursuant
to a shelf registration statement), and the proposed price and name of the proposed managing Underwriter or Underwriters, if any,
in such offering, (ii) describe such Holders’ rights under this Section 2.3, and (iii) offer to all of the Holders
of Registrable Securities the opportunity to register the sale of such number of Registrable Securities as such Holders may request
in writing within five (5) days after receipt of such written notice (such Registration, a “Piggyback Registration”).
The Company shall, in good faith, cause such Registrable Securities identified in a Holder’s response noticed described
in the foregoing sentence to be included in such Piggyback Registration and shall use its commercially reasonable efforts to cause
the managing Underwriter or Underwriters of a proposed Underwritten Offering, if any, to permit the Registrable Securities requested
by the Holders pursuant to this subsection 2.3.1 to be included in a Piggyback Registration on the same terms and conditions
as any similar securities of the Company or Company stockholder(s) for whose account the Registration Statement is to be filed
included in such Registration and to permit the sale or other disposition of such Registrable Securities in accordance with the
intended method(s) of distribution thereof. All such Holders proposing to distribute their Registrable Securities through an Underwritten
Offering under this subsection 2.3.1, subject to Section 3.3 and Article IV, shall enter into an underwriting
agreement in customary form with the Underwriter(s) selected for such Underwritten Offering by the Company.

 

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2.3.2
Reduction of Piggyback Registration. If the managing Underwriter or Underwriters in an Underwritten Registration that is
to be a Piggyback Registration, in good faith, advises the Company and the Holders of Registrable Securities participating in
the Piggyback Registration in writing that, in its opinion, the dollar amount or number of the Class A Common Stock that the Company
desires to sell, taken together with (a) the Class A Common Stock, if any, as to which Registration has been demanded pursuant
to separate written contractual arrangements with persons or entities other than the Holders of Registrable Securities hereunder,
(b) the Registrable Securities as to which registration has been requested pursuant to Section 2.3 hereof, and (c) the
Class A Common Stock, if any, as to which Registration has been requested pursuant to separate written contractual piggy-back
registration rights of other stockholders of the Company, exceeds the Maximum Number of Securities, then:

 

2.3.2.1
if the Registration is undertaken for the Company’s account, the Company shall include in any such Registration (a) first,
the Class A Common Stock or other equity securities that the Company desires to sell, which can be sold without exceeding the
Maximum Number of Securities; (b) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing
clause (a), the Registrable Securities of Holders exercising their rights to register their Registrable Securities pursuant
to subsection 2.3.1 hereof, Pro Rata, which can be sold without exceeding the Maximum Number of Securities; and (c) third,
to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (a) and (b),
the Class A Common Stock, if any, as to which Registration has been requested pursuant to written contractual piggy-back registration
rights of other stockholders of the Company, which can be sold without exceeding the Maximum Number of Securities; and

 

2.3.2.2
if the Registration is pursuant to a request by persons or entities other than the Holders of Registrable Securities, then the
Company shall include in any such Registration (a) first, the Class A Common Stock or other equity securities, if any, of such
requesting persons or entities, other than the Holders of Registrable Securities, which can be sold without exceeding the Maximum
Number of Securities; (b) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing
clause (a), the Registrable Securities of Holders exercising their rights to register their Registrable Securities pursuant
to subsection 2.3.1 hereof, Pro Rata, which can be sold without exceeding the Maximum Number of Securities; (c) third,
to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (a) and (b),
the Class A Common Stock or other equity securities that the Company desires to sell for its own account, which can be sold without
exceeding the Maximum Number of Securities; and (d) fourth, to the extent that the Maximum Number of Securities has not been reached
under the foregoing clauses (a), (b) and (c), the Class A Common Stock or other equity securities for the
account of other persons or entities that the Company is obligated to register pursuant to separate written contractual arrangements
with such persons or entities, which can be sold without exceeding the Maximum Number of Securities.

 

2.3.3
Piggyback Registration Withdrawal. Any Holder of Registrable Securities shall have the right to withdraw all or any portion
of its Registrable Securities in a Piggyback Registration for any or no reason whatsoever upon written notification to the Company
and the Underwriter or Underwriters (if any) of his, her or its intention to withdraw such Registrable Securities from such Piggyback
Registration (a) in the case of a Piggyback Registration not involving an Underwritten Offering or Shelf Underwritten Offering,
one (1) Business Day prior to the effectiveness of the applicable Registration Statement or (b) in the case of any Piggyback Registration
involving an Underwritten Offering or any Shelf Underwritten Offering, two (2) Business Days prior to the pricing of such Underwritten
Offering or Shelf Underwritten Offering. The Company (whether on its own good-faith determination or as the result of a request
for withdrawal by persons pursuant to separate written contractual obligations) may withdraw a Registration Statement filed with
the Commission in connection with a Piggyback Registration at any time prior to the effectiveness of such Registration Statement.

 

2.3.4
Unlimited Piggyback Registration Rights. For purposes of clarity, any Registration effected pursuant to Section 2.3
hereof shall not be counted as a Registration pursuant to a Demand Registration effected under Section 2.2 hereof or
a Shelf Underwritten Offering effected under subsection 2.1.3.

 

Section
2.4 Reserved.

 

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Section
2.5 Block Trades.

 

2.5.1
Notwithstanding any other provision of this Agreement, but subject to Sections 2.4 and 3.4, if a Demanding Holder desires
to effect a Block Trade with a total offering price reasonably expected to exceed, in the aggregate, either (x) the Minimum Amount
or (y) all remaining Registrable Securities held by the Demanding Holder, then notwithstanding the time periods provided for in
subsection 2.1.4, such Demanding Holder shall notify the Company of the Block Trade at least five (5) Business Days prior
to the day such offering is to commence and the Company shall as expeditiously as possible use its commercially reasonable efforts
to facilitate such Block Trade; provided that the Demanding Holders wishing to engage in the Block Trade shall use commercially
reasonable efforts to work with the Company and any Underwriters or placement agents or sales agents prior to making such request
in order to facilitate preparation of the registration statement, prospectus and other offering documentation related to the Block
Trade.

 

2.5.2
Prior to the filing of the applicable “red herring” prospectus or prospectus supplement used in connection with a
Block Trade, any Demanding Holders shall have the right to submit a Withdrawal Notice to the Company and the Underwriter or Underwriters
or placement agents or sales agents (if any) of their intention to withdraw from such Block Trade.

 

Section
2.6 Market Stand-Off. In connection
with any Underwritten Offering of equity securities of the Company (other than a Block Trade), each Holder participating in the
Underwritten Offering pursuant to the terms of this Agreement agrees that it shall not Transfer any shares of Class A Common Stock
or other equity securities of the Company (other than those included in such offering pursuant to this Agreement), without the
prior written consent of the Company, during the 90-day period beginning on the date of pricing of such offering or such shorter
period during which the Company agrees not to conduct an underwritten primary offering of Class A Common Stock, except in the
event the Underwriters managing the offering otherwise agree by written consent. Each Holder participating in the Underwritten
Offering agrees to execute a customary lock-up agreement in favor of the Underwriters to such effect (in each case on substantially
the same terms and conditions as all such Holders).

 

Article
III

COMPANY PROCEDURES

 

Section
3.1 General Procedures. If the Company
is required to effect the Registration of Registrable Securities, the Company shall use its commercially reasonable efforts to
effect such Registration to permit the sale of such Registrable Securities in accordance with the intended plan of distribution
thereof. When effective, the Registration Statements filed pursuant to this Agreement (including the documents incorporated therein
by reference) will comply as to form in all material respects with all applicable requirements of the Securities Act and the Exchange
Act and will not contain a Misstatement. In connection with effecting a Registration of Registrable Securities pursuant to this
Agreement, the Company shall, as expeditiously as possible:

 

3.1.1
prepare and file with the Commission as soon as practicable a Registration Statement with respect to such Registrable Securities
and, except as otherwise set forth herein, use its commercially reasonable efforts to cause such Registration Statement to become
effective and remain effective until all Registrable Securities covered by such Registration Statement have been sold;

 

3.1.2
prepare and file with the Commission such amendments and post-effective amendments to the Registration Statement, and such supplements
to the Prospectus, as may be reasonably requested by a majority in interest of the applicable Holders of Registrable Securities
registered on such Registration Statement or any Underwriter of Registrable Securities or as may be required by the rules, regulations
or instructions applicable to the registration form used by the Company or by the Securities Act or rules and regulations thereunder
to keep the Registration Statement effective until all Registrable Securities covered by such Registration Statement are sold
in accordance with the intended plan of distribution set forth in such Registration Statement or supplement to the Prospectus;

 

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3.1.3
prior to filing a Registration Statement or Prospectus, or any amendment or supplement thereto, furnish without charge to the
Underwriters, if any, and the Holders of Registrable Securities included in such Registration, and such Holders’ legal counsel,
copies of such Registration Statement as proposed to be filed, each amendment and supplement to such Registration Statement (in
each case including all exhibits thereto and documents incorporated by reference therein), the Prospectus included in such Registration
Statement (including each preliminary Prospectus), and such other documents as the Underwriters and the Holders of Registrable
Securities included in such Registration or the legal counsel for any such Holders may request in order to facilitate the disposition
of the Registrable Securities owned by such Holders, and no document shall be filed with the Commission to which any Holder or
its counsel reasonably objects in good faith;

 

3.1.4
prior to any public offering of Registrable Securities, but in any case no later than the effective date of the applicable Registration
Statement, use its commercially reasonable efforts to (a) register or qualify the Registrable Securities covered by the Registration
Statement under such securities or “blue sky” laws of such jurisdictions in the United States as the Holders of Registrable
Securities included in such Registration Statement (in light of their intended plan of distribution) may request and to keep such
registration or qualification in effect for so long as such Registration Statement remains in effect, and (b) take such action
necessary to cause such Registrable Securities covered by the Registration Statement to be registered with or approved by such
other governmental authorities or securities exchanges, including the applicable Nasdaq Stock Market (“Nasdaq”),
as may be necessary by virtue of the business and operations of the Company or otherwise and do any and all other acts and things
that may be necessary or advisable, in each case, to enable the Holders of Registrable Securities included in such Registration
Statement to consummate the disposition of such Registrable Securities in such jurisdictions; provided, however,
that the Company shall not be required to qualify generally to do business in any jurisdiction where it would not otherwise be
required to qualify or take any action to which it would be subject to general service of process or taxation in any such jurisdiction
where it is not then otherwise so subject;

 

3.1.5
cause all such Registrable Securities to be listed on each securities exchange or automated quotation system on which similar
securities issued by the Company are then listed no later than the effective date of such Registration Statement;

 

3.1.6
provide a transfer agent or warrant agent, as applicable, and registrar for all such Registrable Securities no later than the
effective date of such Registration Statement;

 

3.1.7
advise each seller of such Registrable Securities, promptly after it shall receive notice or obtain knowledge thereof, of (i)
subject to the MNPI Provisions, any request by the Commission that the Company amend or supplement such Registration Statement
or Prospectus or (ii) the issuance of any stop order by the Commission suspending the effectiveness of such Registration Statement
or Prospectus or the initiation or threatening of any proceeding for such purpose and promptly use its commercially reasonable
efforts to amend or supplement such Registration Statement or Prospectus or prevent the issuance of any stop order or to obtain
its withdrawal if such stop order should be issued, as applicable;

 

3.1.8
at least five (5) Business Days (or, in the case of a Block Trade, at least one (1) day) prior to the filing of any Registration
Statement or Prospectus or any amendment or supplement to such Registration Statement or Prospectus or any document that is to
be incorporated by reference into such Registration Statement or Prospectus, furnish a copy thereof to each seller of such Registrable
Securities or its counsel, including, without limitation, providing, upon request of a Holder, copies promptly upon receipt of
any comment letters received with respect to any such Registration Statement or Prospectus;

 

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3.1.9
notify the Holders promptly at any time when a Prospectus relating to such Registration Statement is required to be delivered
under the Securities Act, of the happening of any event as a result of which the Prospectus included in such Registration Statement,
as then in effect, includes a Misstatement, and then correct such Misstatement or include such information as is necessary to
comply with law, in each case as set forth in Section 3.4 hereof;

 

3.1.10
permit a representative of a majority-in-interest of the New Holders, the Underwriters, if any, and any attorney or accountant
retained by such Holders or Underwriter to participate, at each such person’s own expense, in the preparation of any Registration
Statement and cause the Company’s officers, directors and employees to supply all information reasonably requested by any
such representative, Underwriter, attorney or accountant in connection with the Registration; provided, however,
that, if requested by the Company, such representatives or Underwriters shall be required to enter into a confidentiality agreement,
in form and substance reasonably satisfactory to the Company, prior to the release or disclosure of any such information;

 

3.1.11
obtain a “cold comfort” letter (including a bring-down letter dated as of the date the Registrable Securities are
delivered for sale pursuant to such Registration) from the Company’s independent registered public accountants in the event
of an Underwritten Offering that the participating Holders may rely on, in customary form and covering such matters of the type
customarily covered by “comfort” letters as the managing Underwriter may reasonably request, and reasonably satisfactory
to a majority-in-interest of the participating Holders and any Underwriter;

 

3.1.12
on the date the Registrable Securities are delivered for sale pursuant to such Registration, obtain an opinion and negative assurance
letter, dated such date, of counsel representing the Company for the purposes of such Registration, addressed to the Holders,
the placement agent or sales agent, if any, and the Underwriters, if any, covering such legal matters with respect to the Registration
in respect of which such opinion is being given as the Holders, placement agent, sales agent, or Underwriter may reasonably request
and as are customarily included in such opinions and negative assurance letters, and reasonably satisfactory to a majority in
interest of the participating Holders and any Underwriter;

 

3.1.13
in the event of any Underwritten Offering, enter into and perform its obligations under an underwriting agreement, in usual and
customary form, with the managing Underwriter of such offering;

 

3.1.14
otherwise use its commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, and to
make available to its security holders, as soon as reasonably practicable, an earnings statement covering the period of at least
twelve (12) months, beginning with the first day of the Company’s first full calendar quarter after the effective date of
the Registration Statement which satisfies the provisions of Section 11(a) of the Securities Act and the rules and regulations
thereunder, including Rule 158 thereunder (or any successor rule promulgated thereafter by the Commission);

 

3.1.15
if the Registration involves the Registration of Registrable Securities involving gross proceeds in excess of $50,000,000, use
its reasonable efforts to make available senior executives of the Company to participate in customary “road show”
presentations that may be reasonably requested by a majority-in-interest of the participating Holders or the Underwriter in any
Underwritten Offering;

 

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3.1.16
if applicable, promptly effect a filing with FINRA pursuant to FINRA Rule 5110 (or successor thereto) with respect to the public
offering contemplated by resales of securities under the Initial Shelf (an “Issuer Filing”), pay the
filing fee required by such Issuer Filing and use its commercially reasonable efforts to complete the Issuer Filing until FINRA
issues a letter confirming that it does not object to the terms of the offering contemplated by the Initial Shelf.

 

3.1.17
cooperate with each Holder that holds Registrable Securities being offered and the Underwriter in any Underwritten Offering with
respect to an applicable Registration Statement, if any, to facilitate the timely (i) preparation and delivery of certificates
(not bearing any restrictive legends) representing Registrable Securities that have been offered and sold pursuant to such Registration
Statement, and enable such certificates to be registered in such names and in such denominations or amounts, as the case may be,
or (ii) crediting of the Registrable Securities that have been offered and sold pursuant to a Registration Statement to the applicable
account (or accounts) with The Depository Trust Company (“DTC”) through its Deposit/Withdrawal At Custodian
(“DWAC”) system, in any such case as such Holder or Underwriter, if any, may reasonably request;

 

3.1.18
for so long as this Agreement remains effective, use reasonable best effects to (a) cause the Class A Common Stock to be eligible
for clearing through DTC, through its DWAC system; (b) be eligible and participating in the Direct Registration System (DRS) of
DTC with respect to the Class A Common Stock; and (c) ensure that the transfer agent for the Class A Common Stock is a participant
in, and that the Class A Common Stock is eligible for transfer pursuant to, DTC’s Fast Automated Securities Transfer Program
(or successor thereto); and

 

3.1.19
otherwise, in good faith, cooperate reasonably with, and take such customary actions as may reasonably be requested by the Holders
in connection with such Registration.

 

Section
3.2 Registration Expenses. Except as
otherwise provided herein, the Registration Expenses of all Registrations shall be borne by the Company. It is acknowledged by
the Holders that the Holders shall bear all incremental selling expenses relating to the sale of Registrable Securities, such
as Underwriters’ commissions and discounts, brokerage fees and, other than as set forth in the definition of “Registration
Expenses,” all reasonable fees and expenses of any legal counsel representing the Holders except as otherwise provided herein.

 

Section
3.3 Participation in Underwritten Offerings.
No Person may participate in any Underwritten Offering for equity securities of the Company pursuant to a Registration initiated
by the Company hereunder unless such Person (a) agrees to sell such Person’s securities on the basis provided in any underwriting
arrangements approved by the Company and (b) completes and executes all customary questionnaires, powers of attorney, indemnities,
lock-up agreements, underwriting agreements and other customary documents as may be reasonably required under the terms of such
underwriting arrangements.

 

    18

     

    

 

Section
3.4 Restrictions on Registration Rights;
Suspension of Sales; Adverse Disclosure. If (a) during the period starting with the date sixty (60) days prior to the Company’s
good-faith estimate of the date of the filing of, and ending on a date one hundred and twenty (120) days after the effective date
of, a Registration Statement in respect of a Company initiated underwritten Registration the Company receives a Demand Registration,
and provided that the Company has delivered written notice to the Holders prior to receipt of a Demand Registration pursuant to
subsection 2.2.1 and it continues to actively employ, in good faith, all reasonable efforts to cause the applicable Company-initiated
Registration Statement to become effective, (b) the Holders have requested an Underwritten Registration and the Company and the
Holders are unable to obtain the commitment of the underwriters to firmly underwrite the offer, or (c) in the good faith judgment
of the Board such Registration would be seriously detrimental to the Company and the Board concludes as a result that it is essential
to defer the filing of such Registration Statement at such time, then in each case, the Company shall furnish to such Holders
a certificate signed by the Chairman of the Board stating that in the good-faith judgment of the Board it would be seriously detrimental
to the Company for a Registration Statement with respect to such Demand Registration to be filed in the near future and that it
is therefore essential to defer the filing of such Registration Statement, the Company shall have the right to defer such filing
for a period of not more than sixty (60) days. For the avoidance of doubt, the foregoing ability to defer the filing of a Registration
Statement shall not apply to the Company’s obligation to file the Initial Shelf pursuant to subsection 2.1.1. Upon
receipt of written notice from the Company that a Registration Statement or Prospectus contains a Misstatement, or in the opinion
of counsel for the Company it is necessary to supplement or amend such Prospectus to comply with law, each of the Holders shall
forthwith discontinue disposition of Registrable Securities until it has received copies of a supplemented or amended Prospectus
correcting the Misstatement or including the information counsel for the Company instructs is necessary to comply with law (it
being understood that the Company hereby covenants to prepare and file such supplement or amendment as soon as practicable after
the time of such notice such that the Registration Statement or Prospectus, as so amended or supplemented, as applicable, will
not include a Misstatement and complies with law), or until it is advised in writing by the Company that the use of the Prospectus
may be resumed. If the filing, initial effectiveness or continued use of a Registration Statement in respect of any Registration
at any time would require the Company to make an Adverse Disclosure or would require the inclusion in such Registration Statement
of financial statements that are unavailable to the Company for reasons beyond the Company’s control (a “Suspension
Event”), the Company may, subject to the MNPI Provisions, upon giving prompt written notice of such action to the
Holders (a “Suspension Notice”), no later than three (3) Business Days from the date of such Suspension
Event, delay the filing or initial effectiveness of, or suspend use of, such Registration Statement for the shortest period of
time required to resolve such issue, but in no event more than forty-five (45) consecutive days, determined in good faith by the
Board to be necessary for such purpose; provided that the Company shall not defer its obligations pursuant to this Section
3.4 more than twice during any twelve (12)-month period; provided further, that in no event shall the Company be entitled
to delay or defer the filing or effectiveness of the Initial Shelf pursuant to this Section 3.4. In the event the Company
exercises its rights under the preceding sentence, the Holders agree to suspend, immediately upon their receipt of the Suspension
Notice, their use of the Prospectus relating to any Registration in connection with any sale or offer to sell Registrable Securities;
provided, for the avoidance of doubt, that the foregoing shall not restrict or otherwise affect the consummation of any sale pursuant
to a contract entered into, or order placed, by any Holder prior to delivery of the Suspension Notice. The Company shall immediately
notify the Holders of the expiration of any period during which it exercised its rights under this Section 3.4. The Holders
agree that, except as required by applicable law, the Holders shall treat as confidential the receipt of a Suspension Notice from
the Company under this Section 3.4 (provided that in no event shall such notice disclose the basis for suspension or contain
any material nonpublic information) and shall not disclose the information contained in such written notice without the prior
written consent of the Company until such time as the information contained therein is or becomes public, other than as a result
of disclosure by a holder of Registrable Securities in breach of the terms of this Agreement.

 

Section
3.5 Covenants of the Company.

 

3.5.1
The Company will use its commercially reasonable efforts to make and keep public information available, as those terms are understood
and defined in Rule 144. Without limiting the foregoing, as long as any Holder shall own Registrable Securities (without taking
into account the exclusion of the definition of such term contained in clause (iv) thereof), the Company, at all times while it
shall be a reporting company under the Exchange Act, covenants to file timely all reports required to be filed by the Company
after the date hereof pursuant to Sections 13 or 15(d) of the Exchange Act and to promptly furnish the Holders with true and complete
copies of all such filings. The Company further covenants that it shall take such further action as any Holder may reasonably
request, all to the extent required from time to time to enable such Holder to sell shares of Class A Common Stock held by such
Holder without registration under the Securities Act within the limitation of the exemptions provided by Rule 144 promulgated
under the Securities Act (or any successor rule promulgated thereafter by the Commission), including providing any legal opinions.

 

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3.5.2
Other than with respect to any contractual restriction applicable to any Holder, the stock certificates evidencing the Registrable
Securities (without taking into account the exclusion of the definition of such term contained in clause (iv) thereof) (and/or
book entries representing the Registrable Securities) held by each Holder shall not contain or be subject to any legend restricting
the transfer thereof (and the Registrable Securities shall not be subject to any stop transfer or similar instructions or notations):
(A) while a Registration Statement covering the sale or resale of such securities is effective under the Securities Act, if such
Holder provides paperwork to the effect that it will sell, distribute or transfer such securities pursuant to such Registration
Statement and the plan of distribution set forth therein or Rule 144, or (B) if such Holder provides customary paperwork to the
effect that it has sold such shares pursuant to Rule 144, or (C) if such Registrable Securities are eligible for sale under Rule
144 (including Rule 144(i)) as set forth in customary non-affiliate paperwork provided by such Holder and such non-affiliate Holder
agrees to sell or transfer such Registrable Securities pursuant to Rule 144 or pursuant to a Registration Statement and the plan
of distribution set forth therein or (D) if such legend is not required under applicable requirements of the Securities Act (including
judicial interpretations and pronouncements issued by the staff of the Commission) as determined in good faith by counsel to the
Company or set forth in a legal opinion delivered by nationally recognized counsel to the Holder (collectively, the “Unrestricted
Conditions”). The Company agrees that at such time as any of the Unrestricted Conditions is met or such legend is
otherwise no longer required it will, no later than two (2) Business Days following the delivery by a Holder to the Company or
the Company’s transfer agent of a certificate representing any Registrable Securities, issued with a restrictive legend,
(or, in the case of Registrable Securities represented by book entries, delivery by a Holder to the Company or the Company’s
transfer agent of a legend removal request) deliver or cause to be delivered to such Holder a certificate or, at the request of
such Holder, deliver or cause to be delivered such Registrable Securities to such Holder by crediting the account of such Holder’s
prime broker with DTC through its Deposit/Withdrawal at Custodian (DWAC) system, in each case, free from all restrictive and other
legends and stop transfer or similar instructions or notations. If any of the Unrestricted Conditions is met at the time of issuance
of any Registrable Securities (e.g., upon exercise of warrants), then such securities shall be issued free of all legends.

 

3.5.3
Notwithstanding anything in this Agreement to the contrary, the Company will not provide any material, nonpublic information to
any Holder without the prior written consent of such Holder, and in the event that the Company believes that a notice or communication
required by this Agreement to be delivered to any Holder contains material, nonpublic information relating to the Company, its
securities, any of its Affiliates or any other Person, the Company shall so indicate to such Holder prior to delivery of such
notice or communication, and such indication shall provide such Holder the means to refuse to receive such notice or communication.
No Holder nor any of its Affiliates or representatives shall have any duty of trust or confidence with respect to, or obligation
not to trade in any securities while aware of, any material, nonpublic information provided to such Holder, Affiliate or representative
in violation of this subsection 3.5.3.

 

3.5.4
Notwithstanding the foregoing, to the extent the Company reasonably and in good faith determines that it is necessary to disclose
material non-public information to a Holder in order to comply with its obligations hereunder (a “Necessary Disclosure”),
the Company shall inform counsel to such Holder to the extent such counsel has been identified in writing to the Company in advance
of such determination without disclosing the applicable material non-public information, and the Company and such counsel on behalf
of the applicable Holder shall endeavor to agree upon a process for making such Necessary Disclosure to the applicable Holder
or its representatives that is mutually acceptable to such Holder and the Company (an “Agreed Disclosure Process”).
Thereafter, the Company shall be permitted to make such Necessary Disclosure (only) in accordance with the Agreed Disclosure Process.

 

Section
3.6 Information. The Holders shall
provide such information as may reasonably be requested by the Company, or the managing Underwriter, if any, in connection with
the preparation of any Registration Statement, including amendments and supplements thereto, in order to effect the Registration
of any Registrable Securities under the Securities Act pursuant to Article II and in connection with the Company’s obligation
to comply with federal and applicable state securities laws.

 

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Article
IV

INDEMNIFICATION AND CONTRIBUTION

 

Section
4.1 Indemnification.

 

4.1.1
The Company agrees to indemnify, defend and hold harmless, to the fullest extent permitted by law, each Holder of Registrable
Securities, each Person who controls such Holder (within the meaning of the Securities Act) and each Holder’s and control
Person’s officers, directors, members, partners, and managers against all losses, claims, actions, damages, liabilities
and expenses (including, without limitation, reasonable attorneys’ fees) resulting from any Misstatement or alleged Misstatement,
except insofar as the same are contained in any information furnished in writing to the Company by such Holder expressly for use
in a Registration Statement or Prospectus. The Company shall indemnify the Underwriters, their officers and directors and agents
and each Person who controls such Underwriters (within the meaning of the Securities Act) to the same extent as provided in the
foregoing with respect to the indemnification of the Holder.

 

4.1.2
In connection with any Registration Statement in which a Holder of Registrable Securities is participating, such Holder shall
furnish to the Company in writing such information relating to such Holder as the Company reasonably requests for use in connection
with any such Registration Statement or Prospectus and, to the extent permitted by law, shall indemnify the Company, its directors
and officers and agents and each Person who controls the Company (within the meaning of the Securities Act) against any losses,
claims, damages, liabilities and expenses (including without limitation reasonable attorneys’ fees) resulting from any Misstatement
or alleged Misstatement, but only to the extent that such Misstatement or alleged Misstatement is contained in any information
so furnished in writing by such Holder expressly for use in such Registration Statement or Prospectus; provided, however,
that the obligation to indemnify shall be several, not joint and several, among such Holders of Registrable Securities, and the
liability of each such Holder of Registrable Securities shall be in proportion to and limited to the net proceeds actually received
by such Holder from the sale of Registrable Securities in such offering giving rise to such liability. The Holders of Registrable
Securities shall indemnify the Underwriters, their officers, directors and each Person who controls such Underwriters (within
the meaning of the Securities Act) to the same extent as provided in the foregoing with respect to indemnification of the Company.

 

4.1.3
Any Person entitled to indemnification herein shall (i) give prompt written notice to the indemnifying party of any claim with
respect to which it seeks indemnification (provided that the failure to give prompt notice shall not impair any Person’s
right to indemnification hereunder to the extent such failure has not materially prejudiced the indemnifying party in defending
such claim) and (ii) unless in such indemnified party’s reasonable judgment a conflict of interest between such indemnified
and indemnifying parties may exist with respect to such claim, permit such indemnifying party to assume the defense of such claim
with counsel reasonably satisfactory to the indemnified party. If such defense is assumed, the indemnifying party shall not be
subject to any liability for any settlement made by the indemnified party without its consent (but such consent shall not be unreasonably
withheld, conditioned or delayed). An indemnifying party who is not entitled to, or elects not to, assume the defense of a claim
shall not be obligated to pay the fees and expenses of more than one counsel (plus local counsel) for all parties indemnified
by such indemnifying party with respect to such claim, unless in the reasonable judgment of any indemnified party a conflict of
interest may exist between such indemnified party and any other of such indemnified parties with respect to such claim. No indemnifying
party shall, without the consent of the indemnified party, consent to the entry of any judgment or enter into any settlement which
cannot be settled in all respects by the payment of money (and such money is so paid by the indemnifying party pursuant to the
terms of such settlement) or which settlement 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 or includes any admission
as to fault or culpability or failure to act on the part of an indemnified party.

 

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4.1.4
The indemnification and contribution provided for under this Agreement shall remain in full force and effect regardless of any
investigation made by or on behalf of the indemnified party or any officer, director, manager, or controlling Person of such indemnified
party and shall survive transfer of securities. The Company and each Holder of Registrable Securities participating in an offering
also agrees to make such provisions as are reasonably requested by any indemnified party for contribution to such party in the
event the Company’s or such Holder’s indemnification is unavailable for any reason.

 

4.1.5
If the indemnification provided under Section 4.1 hereof from the indemnifying party is unavailable or insufficient to
hold harmless an indemnified party in respect of any losses, claims, damages, liabilities and expenses referred to herein, then
the indemnifying party, in lieu of indemnifying the indemnified party, shall contribute to the amount paid or payable by the indemnified
party as a result of such losses, claims, damages, liabilities and expenses in such proportion as is appropriate to reflect the
relative fault of the indemnifying party and the indemnified party, as well as any other relevant equitable considerations. The
relative fault of the indemnifying party and indemnified party shall be determined by reference to, among other things, whether
any action in question, including any Misstatement or alleged Misstatement, was made by, or relates to information supplied by,
such indemnifying party or indemnified party, and the indemnifying party’s and indemnified party’s relative intent,
knowledge, access to information and opportunity to correct or prevent such action and the benefits received by the such indemnifying
party or indemnified party; provided, however, that the liability of any Holder under this subsection 4.1.5
shall be limited to the amount of the net proceeds received by such Holder from the sale of Registrable Securities in such offering
giving rise to such liability. The amount paid or payable by a party as a result of the losses or other liabilities referred to
above shall be deemed to include, subject to the limitations set forth in subsections 4.1.1, 4.1.2 and 4.1.3
above, any legal or other fees, charges or expenses reasonably incurred by such party in connection with any investigation
or proceeding. The parties hereto agree that it would not be just and equitable if contribution pursuant to this subsection
4.1.5 were determined by pro rata allocation or by any other method of allocation, which does not take account of the equitable
considerations referred to in this subsection 4.1.5. No Person guilty of fraudulent misrepresentation (within the meaning
of Section 11(f) of the Securities Act) shall be entitled to contribution pursuant to this subsection 4.1.5 from any Person
who was not guilty of such fraudulent misrepresentation.

 

Article
V

MISCELLANEOUS

 

Section
5.1 Notices. Any notice or communication
under this Agreement must be in writing and given by (i) deposit in the United States mail, addressed to the party to be notified,
postage prepaid and registered or certified with return receipt requested, (ii) delivery in person or by courier service providing
evidence of delivery, or (iii) transmission by hand delivery, electronic mail or facsimile. Each notice or communication that
is mailed, delivered, or transmitted in the manner described above shall be deemed sufficiently given, served, sent, and received,
in the case of mailed notices, on the third (3rd) Business Day following the date on which it is mailed and, in the
case of notices delivered by courier service, hand delivery, electronic mail (provided no “bounce back” or
notice of non-delivery is received) or facsimile, at such time as it is delivered to the addressee (except in the case of electronic
mail, with the delivery receipt) or at such time as delivery is refused by the addressee upon presentation. Any notice or communication
under this Agreement must be addressed, if to the Company, to: 333 Ludlow Street, Stamford, CT 06902, and, if to any Holder, at
such Holder’s address or contact information as set forth in the Company’s books and records. Any party may change
its address for notice at any time and from time to time by written notice to the other parties hereto, and such change of address
shall become effective after delivery of such notice as provided in this Section 5.1.

 

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Section
5.2 Assignment; No Third Party Beneficiaries.

 

5.2.1
This Agreement and the rights, duties and obligations of the Company and the Holders hereunder may not be assigned or delegated
by the Company or the Holders, as the case may be, in whole or in part.

 

5.2.2
Prior to the expiration of the Founder Shares Lock-up Period or the Private Placement Lock-up Period, as the case may be, no Existing
Holder who is subject to either or both the Founder Shares Lock-up Period or the Private Placement Lock-up Period may assign or
delegate such Existing Holder’s rights, duties or obligations under this Agreement, in whole or in part, except in connection
with a transfer of Registrable Securities by such Holder to a Permitted Transferee, to an Affiliate or as otherwise permitted
pursuant to the terms of the Founder Shares Lock-up Period, the Private Placement Lock-up Period or other lock-up period, as applicable.

 

5.2.3
This Agreement and the provisions hereof shall be binding upon and shall inure to the benefit of each of the parties and its successors
and the permitted assigns of the applicable Holders, which shall include Permitted Transferees.

 

5.2.4
This Agreement shall not confer any rights or benefits on any Persons that are not parties hereto, other than as expressly set
forth in this Agreement and Section 5.2 hereof.

 

5.2.5
No assignment (including to a Permitted Transferee) by any party hereto of such party’s rights, duties and obligations hereunder
shall be binding upon or obligate the Company unless and until the Company shall have received (a) written notice of such assignment
as provided in Section 5.1 hereof and (b) the written agreement of the assignee, in a form reasonably satisfactory to the
Company, to be bound by the terms and provisions of this Agreement (which may be accomplished by an addendum or certificate of
joinder to this Agreement). Any transfer or assignment made other than as provided in this Section 5.2 shall be null and
void.

 

Section
5.3 Counterparts. This Agreement may
be executed in multiple counterparts (including facsimile, PDF counterparts or other electronic transmission), each of which shall
be deemed an original, and all of which together shall constitute the same instrument, but only one of which need be produced.

 

Section
5.4 Governing Law; Venue. NOTWITHSTANDING
THE PLACE WHERE THIS AGREEMENT MAY BE EXECUTED BY ANY OF THE PARTIES HERETO, THE PARTIES EXPRESSLY AGREE THAT (I) THIS AGREEMENT
SHALL BE GOVERNED BY AND CONSTRUED UNDER THE LAWS OF THE STATE OF NEW YORK AS APPLIED TO AGREEMENTS AMONG NEW YORK RESIDENTS ENTERED
INTO AND TO BE PERFORMED ENTIRELY WITHIN NEW YORK, WITHOUT REGARD TO THE CONFLICT OF LAW PROVISIONS OF SUCH JURISDICTION THAT
WOULD REQUIRE THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION AND (II) THE VENUE FOR ANY ACTION TAKEN WITH RESPECT TO THIS
AGREEMENT SHALL BE ANY STATE OR FEDERAL COURT IN NEW YORK COUNTY IN THE STATE OF NEW YORK.

 

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Section
5.5 Amendments and Modifications. Upon
the written consent of the Company and the Holders of at least a majority-in-interest of the Registrable Securities at the time
in question, compliance with any of the provisions, covenants and conditions set forth in this Agreement may be waived, or any
of such provisions, covenants or conditions may be amended or modified; provided, however, that, notwithstanding
the foregoing, any amendment hereto or waiver hereof that adversely affects either the Existing Holders as a group or the New
Holders as a group, respectively, in a manner that is materially adversely different from the Existing Holders or New Holders,
as applicable, shall require the consent of at least a majority-in-interest of the Registrable Securities held by such Existing
Holders or New Holders, as applicable, at the time in question; provided, further, that, notwithstanding the foregoing,
any amendment hereto or waiver hereof that adversely affects one Holder, solely in its capacity as a holder of the shares of capital
stock of the Company, in a manner that is materially different from the other Holders (in such capacity) shall require the consent
of the Holder so affected; provided, further, that notwithstanding the foregoing, any amendment to Section 2.6 that affects a
party hereto shall require the written consent of such party. No course of dealing between any Holder or the Company and any other
party hereto or any failure or delay on the part of a Holder or the Company in exercising any rights or remedies under this Agreement
shall operate as a waiver of any rights or remedies of any Holder or the Company. No single or partial exercise of any rights
or remedies under this Agreement by a party shall operate as a waiver or preclude the exercise of any other rights or remedies
hereunder or thereunder by such party.

 

Section
5.6 Other Registration Rights. Other
than pursuant to the terms of the Subscription Agreements in connection with the PIPE Investment, the Company represents and warrants
that no Person, other than a Holder of Registrable Securities, has any right to require the Company to register any securities
of the Company for sale or to include such securities of the Company in any Registration filed by the Company for the sale of
securities for its own account or for the account of any other Person. The Company represents, warrants and agrees that this Agreement
supersedes any other registration rights agreement or agreement with similar terms and conditions among the parties thereto, and
in the event of a conflict between any such agreement or agreements and this Agreement, the terms of this Agreement shall prevail.
To the extent the Company grants any Person(s) the right to request the Company or any of its subsidiaries to register any equity
securities of the Company or any of its subsidiaries or any securities convertible or exchangeable into or exercisable for such
securities, the Company shall grant piggyback registration rights to the New Holders in connection therewith.

 

Section
5.7 Term. This Agreement shall terminate
upon the earlier of (a) the tenth anniversary of the date of this Agreement, (b) the date as of which all of the Registrable Securities
have been sold pursuant to a Registration Statement (but in no event prior to the applicable period referred to in Section 4(a)(3)
of the Securities Act and Rule 174 thereunder (or any successor rule promulgated thereafter by the Commission)) or (c) with respect
to a particular Holder, the date as of which all Registrable Securities held by such Holder have been sold (x) pursuant to a Registration
Statement (but in no event prior to the applicable period referred to in Section 4(a)(3) of the Securities Act and Rule 174 thereunder
(or any successor rule promulgated thereafter by the Commission)) or (y) under Rule 144 or another exemption from registration
under the Securities Act. The provisions of Section 3.5 and Article IV shall survive any termination.

 

Section
5.8 Rules of Construction. Any provision
of this Agreement that refers to the words “include,” “includes” or “including” shall be deemed
to be followed by the words “without limitation.” References to numbered or letter articles, sections and subsections
refer to articles, sections and subsections, respectively, of this Agreement unless expressly stated otherwise. All references
to this Agreement include, whether or not expressly referenced, the exhibits and schedules attached hereto. References to a Section,
paragraph, Exhibit or Schedule, such reference shall be to a Section or paragraph of, or Exhibit or Schedule to, this Agreement
unless otherwise indicated. The words “hereof,” “herein” and “hereunder” and words of similar
import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement.
The word “or” when used in this Agreement is not exclusive. The definitions contained in this Agreement are applicable
to the singular as well as the plural forms of such terms and to the masculine as well as to the feminine and neuter genders of
such term. Any agreement, instrument, law or statute defined or referred to herein or in any agreement or instrument that is referred
to herein means such agreement, instrument, or statute as from time to time amended, modified or supplemented, including (in the
case of agreements or instruments) by waiver or consent and (in the case of statutes) by succession of comparable successor statutes
and includes references to all attachments thereto and instruments incorporated therein unless otherwise indicated. References
to a Person are also to its permitted successors and assigns. In the event that any claim is made by any Person relating to any
conflict, omission or ambiguity in this Agreement, no presumption or burden of proof or persuasion shall be implied by virtue
of the fact that this Agreement was prepared by or at the request of a particular Person or its counsel.

 

[Signature
Pages Follow]

 

    24

     

    

 

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

  

	 	COMPANY:
	 	 
	 	CM LIFE SCIENCES, INC., a Delaware corporation
	 	 
	 	By:	   
	 	Name:
	 	Title:
	 	 
	 	EXISTING HOLDERS:
	 	 
	 	CMLS HOLDINGS LLC, a Delaware limited liability company
	 	 
	 	By:	 
	 	Name:
	 	Title:
	 	 
	 	 
	 	Name: Munib Islam
	 	 
	 	 
	 	Name: Emily Leproust
	 	 
	 	 
	 	Name: Nat Turner

 

[Signature
Page to Registration Rights Agreement]

 

     

     

    

 

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

 

[NEW
HOLDERS]Exhibit 4.1

 

NEITHER THIS SECURITY NOR
THE SECURITIES FOR WHICH THIS SECURITY IS EXERCISABLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES
COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES
ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES
ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. THIS SECURITY AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS SECURITY
MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.

 

 

UNDERWRITER COMMON
STOCK PURCHASE WARRANT EKSO BIONICS HOLDINGS, INC.

 

	Warrant
    Shares:	 	 	 	Issue Date: February 11, 2021
	 	 	 	 	 
	 	 	 	 	Initial Exercise Date: February 11, 2021

 

 

THIS UNDERWRITER COMMON STOCK PURCHASE WARRANT
(the “Warrant”) certifies that, for value received, or its assigns (the
 “Holder”) is entitled, upon the terms and subject to the limitations on exercise and the conditions
hereinafter set forth, at any time on or after the date set forth above (the “Initial Exercise Date”) and
on or prior to 5:00 p.m. (New York City time) on February 8, 2026 (the “Termination Date”) but not
thereafter, to subscribe for and purchase from Ekso Bionics Holdings, Inc., a Nevada corporation (the
 “Company”), up to shares (as subject to adjustment hereunder, the “Warrant Shares”) of
the Company’s Common Stock, as defined in Section 1 herein. The purchase price of one share of Common Stock under this
Warrant shall be equal to the Exercise Price, as defined in Section 2(b). This Warrant is being issued pursuant to the
Underwriting Agreement.

 

Section 1.Definitions.
In addition to the terms defined elsewhere in this Warrant, the following terms have the meanings indicated in this Section 1:

 

“Affiliate”
means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common
control with a Person, as such terms are used in and construed under Rule 405 under the Securities Act.

 

    	 	1	 

     

    

 

“Business
Day” means any day other than Saturday, Sunday or other day on which commercial banks in The City of New York are authorized
or required by law to remain closed; provided, however, for clarification, commercial banks shall not be deemed to be authorized
or required by law to remain closed due to “stay at home”, “shelter-in-place”, “non-essential employee”
or any other similar orders or restrictions or the closure of any physical branch locations at the direction of any governmental
authority so long as the electronic funds transfer systems (including for wire transfers) of commercial banks in The City of New
York generally are open for use by customers on such day.

 

“Commission”
means the United States Securities and Exchange Commission. “Common Stock” means the common stock of the
Company, par value $0.001 per share, and any other class of securities into which such securities may hereafter be
reclassified or changed.

 

“Common
Stock Equivalents” means any securities of the Company or its subsidiaries which would entitle the holder thereof to
acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument
that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common
Stock.

 

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

 

“Person”
means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

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

 

“Trading
Day” means a day on which the Common Stock is traded on a Trading Market.

 

“Trading
Market” means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on
the date in question: the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market or
the New York Stock Exchange (or any successors to any of the foregoing).

 

“Transfer
Agent” means VStock Transfer, LLC, with offices located at 18 Lafayette Pl, Woodmere, NY 11598, and any successor transfer
agent of the Company.

 

“Underwriting
Agreement” means that certain underwriting agreement entered into by and between H.C. Wainwright & Co., LLC and the
Company, dated as of February 8, 2021.

 

    	 	2	 

     

    

 

Section 2. Exercise.

 

a)                 
Exercise of Warrant. Exercise of the purchase rights represented by this Warrant may be made, in whole or in
part, at any time or times on or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company
of a duly executed facsimile copy or PDF copy submitted by e-mail (or e-mail attachment) of the Notice of Exercise in the form
annexed hereto (the “Notice of Exercise”). Within the earlier of (i) two (2) Trading Days and (ii) the number
of Trading Days comprising the Standard Settlement Period (as defined in Section 2(d)(i) herein) following the date of exercise
as aforesaid, the Holder shall deliver the aggregate Exercise Price for the Warrant Shares specified in the applicable Notice of
Exercise by wire transfer or cashier’s check drawn on a United States bank unless the cashless exercise procedure specified
in Section 2(c) below, is specified in the applicable Notice of Exercise. No ink-original Notice of Exercise shall be required,
nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice of Exercise be required. Notwithstanding
anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company until the
Holder has purchased all of the Warrant Shares available hereunder and the Warrant has been exercised in full, in which case, the
Holder shall surrender this Warrant to the Company for cancellation within three (3) Trading Days of the date on which the final
Notice of Exercise is delivered to the Company. Partial exercises of this Warrant resulting in purchases of a portion of the total
number of Warrant Shares available hereunder shall have the effect of lowering the outstanding number of Warrant Shares purchasable
hereunder in an amount equal to the applicable number of Warrant Shares purchased. The Holder and the Company shall maintain records
showing the number of Warrant Shares purchased and the date of such purchases. The Company shall deliver any objection to any Notice
of Exercise within one (1) Trading Day of receipt of such notice. The Holder and any assignee, by acceptance of this Warrant,
acknowledge and agree that, by reason of the provisions of this paragraph, following the purchase of a portion of the Warrant Shares
hereunder, the number of Warrant Shares available for purchase hereunder at any given time may be less than the amount stated on
the face hereof.

 

b)                 
Exercise Price. The exercise price per share of Common Stock under this Warrant shall be $12.8125, subject to adjustment
hereunder (the “Exercise Price”).

 

c)                 
Cashless Exercise. If at the time of exercise hereof there is no effective registration statement registering, or
the prospectus contained therein is not available for the issuance or resale of the Warrant Shares to or by the Holder, then this
Warrant may also be exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder
shall be entitled to receive a number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

 

(A)
= as applicable: (i) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise if such
Notice of Exercise is (1) both executed and delivered pursuant to Section 2(a) hereof on a day that is not a Trading Day or
(2) both executed and delivered pursuant to Section 2(a) hereof on a Trading Day prior to the opening of “regular
trading hours” (as defined in Rule 600(b)(68) of Regulation NMS promulgated under the federal securities laws) on such
Trading Day, (ii) at the option of the Holder, either (y) the VWAP on the Trading Day immediately preceding the date of the
applicable Notice of Exercise or (z) the Bid Price of the Common Stock on the principal Trading Market as reported by
Bloomberg L.P. as of the time of the Holder’s execution of the applicable Notice of Exercise if such Notice of Exercise
is executed during “regular trading hours” on a Trading Day and is delivered within two (2) hours thereafter
(including until two (2) hours after the close of “regular trading hours” on a Trading Day) pursuant to Section
2(a) hereof or (iii) the VWAP on the date of the applicable Notice of Exercise if the date of such Notice of Exercise is a
Trading Day and such Notice of Exercise is both executed and delivered pursuant to Section 2(a) hereof after the close of
 “regular trading hours” on such Trading Day;

 

    	 	3	 

     

    

 

(B) = the Exercise Price of this Warrant, as adjusted
hereunder; and

 

(X)
= the number of Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant
if such exercise were by means of a cash exercise rather than a cashless exercise.

 

“Bid
Price” means, for any date, the price determined by the first of the following clauses that applies: (a) if the
Common Stock is then listed or quoted on a Trading Market, the bid price of the Common Stock for the time in question (or the
nearest preceding date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg
L.P. (based on a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if OTCQB or OTCQX is
not a Trading Market, the volume weighted average price of the Common Stock for such date (or the nearest preceding date) on
OTCQB or OTCQX as applicable, (c) if the Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if
prices for the Common Stock are then reported on The Pink Open Market (or a similar organization or agency succeeding to its
functions of reporting prices), the most recent bid price per share of the Common Stock so reported, or (d) in all other
cases, the fair market value of a share of Common Stock as determined by an independent appraiser selected in good faith by
the Holders of a majority in interest of the Securities then outstanding and reasonably acceptable to the Company, the fees
and expenses of which shall be paid by the Company.

 

“VWAP”
means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then
listed or quoted on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the
nearest preceding date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg
L.P. (based on a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if OTCQB or OTCQX is
not a Trading Market, the volume weighted average price of the Common Stock for such date (or the nearest preceding date) on
OTCQB or OTCQX as applicable, (c) if the Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if
prices for the Common Stock are then reported on The Pink Open Market (or a similar organization or agency succeeding to its
functions of reporting prices), the most recent bid price per share of the Common Stock so reported, or (d) in all other
cases, the fair market value of a share of Common Stock as determined by an independent appraiser selected in good faith by
the Holders of a majority in interest of the Securities then outstanding and reasonably acceptable to the Company, the fees
and expenses of which shall be paid by the Company.

 

    	 	4	 

     

    

 

If Warrant
Shares are issued in such a cashless exercise, the parties acknowledge and agree that in accordance with Section 3(a)(9) of the
Securities Act, the Warrant Shares shall take on the characteristics of the Warrants being exercised, and the holding period of
the Warrant Shares being issued may be tacked on to the holding period of this Warrant. The Company agrees not to take any position
contrary to this Section 2(c).

 

Notwithstanding
anything herein to the contrary, on the Termination Date, this Warrant shall be automatically exercised via cashless exercise pursuant
to this Section 2(c).

 

		d)	Mechanics of Exercise.

 

i.            Delivery
of Warrant Shares Upon Exercise. The Company shall cause the Warrant Shares purchased hereunder to be transmitted by the
Transfer Agent to the Holder by crediting the account of the Holder’s or its designee’s balance account with The
Depository Trust Company through its Deposit or Withdrawal at Custodian system (“DWAC”) if the Company is
then a participant in such system and either (A) there is an effective registration statement permitting the issuance of the
Warrant Shares to or resale of the Warrant Shares by the Holder or (B) the Warrant Shares are eligible for resale by the
Holder without volume or manner-of-sale limitations pursuant to Rule 144 (assuming cashless exercise of the Warrants), and
otherwise by physical delivery of a certificate, registered in the Company’s share register in the name of the Holder
or its designee, for the number of Warrant Shares to which the Holder is entitled pursuant to such exercise to the address
specified by the Holder in the Notice of Exercise by the date that is the earliest of (i) two (2) Trading Days after the
delivery to the Company of the Notice of Exercise, (ii) one (1) Trading Day after delivery of the aggregate Exercise Price to
the Company and (iii) the number of Trading Days comprising the Standard Settlement Period after the delivery to the Company
of the Notice of Exercise (such date, the “Warrant Share Delivery Date”). Upon delivery of the Notice of
Exercise, the Holder shall be deemed for all corporate purposes to have become the holder of record of the Warrant Shares
with respect to which this Warrant has been exercised, irrespective of the date of delivery of the Warrant Shares, provided
that payment of the aggregate Exercise Price (other than in the case of a cashless exercise) is received by the Warrant Share
Delivery Date. If the Company fails for any reason to deliver to the Holder the Warrant Shares subject to a Notice of
Exercise by the Warrant Share Delivery Date, the Company shall pay to the Holder, in cash, as liquidated damages and not as a
penalty, for each $1,000 of Warrant Shares subject to such exercise (based on the VWAP of the Common Stock on the date of the
applicable Notice of Exercise), $10 per Trading Day (increasing to $20 per Trading Day on the fifth Trading Day after such
liquidated damages begin to accrue) for each Trading Day after such Warrant Share Delivery Date until such Warrant Shares are
delivered or Holder rescinds such exercise. The Company agrees to maintain a transfer agent that is a participant in the FAST
program so long as this Warrant remains outstanding and exercisable. As used herein, “Standard Settlement
Period” means the standard settlement period, expressed in a number of Trading Days, on the Company’s primary
Trading Market with respect to the Common Stock as in effect on the date of delivery of the Notice of Exercise.

 

    	 	5	 

     

    

 

ii.           
Delivery of New Warrants Upon Exercise. If this Warrant shall have been exercised in part, the Company shall, at
the request of a Holder and upon surrender of this Warrant certificate, at the time of delivery of the Warrant Shares, deliver
to the Holder a new Warrant evidencing the rights of the Holder to purchase the unpurchased Warrant Shares called for by this Warrant,
which new Warrant shall in all other respects be identical with this Warrant.

 

iii.           
Rescission Rights. If the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares
pursuant to Section 2(d)(i) by the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise.

 

iv.           
Compensation for Buy-In on Failure to Timely Deliver Warrant Shares Upon Exercise. In addition to any other rights available
to the Holder, if the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares in accordance with
the provisions of Section 2(d)(i) above pursuant to an exercise on or before the Warrant Share Delivery Date, and if after such
date the Holder is required by its broker to purchase (in an open market transaction or otherwise) or the Holder’s brokerage
firm otherwise purchases, shares of Common Stock to deliver in satisfaction of a sale by the Holder of the Warrant Shares which
the Holder anticipated receiving upon such exercise (a “Buy-In”), then the Company shall (A) pay in cash to
the Holder the amount, if any, by which (x) the Holder’s total purchase price (including brokerage commissions, if any)
for the shares of Common Stock so purchased exceeds (y) the amount obtained by multiplying (1) the number of Warrant Shares that
the Company was required to deliver to the Holder in connection with the exercise at issue times (2) the price at which the sell
order giving rise to such purchase obligation was executed, and (B) at the option of the Holder, either reinstate the portion
of the Warrant and equivalent number of Warrant Shares for which such exercise was not honored (in which case such exercise shall
be deemed rescinded) or deliver to the Holder the number of shares of Common Stock that would have been issued had the Company
timely complied with its exercise and delivery obligations hereunder. For example, if the Holder purchases Common Stock having
a total purchase price of $11,000 to cover a Buy-In with respect to an attempted exercise of shares of Common Stock with an aggregate
sale price giving rise to such purchase obligation of $10,000, under clause (A) of the immediately preceding sentence the Company
shall be required to pay the Holder $1,000. The Holder shall provide the Company written notice indicating the amounts payable
to the Holder in respect of the Buy- In and, upon request of the Company, evidence of the amount of such loss. Nothing herein
shall limit a Holder’s right to pursue any other remedies available to it hereunder, at law or in equity including, without
limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s failure to timely deliver
shares of Common Stock upon exercise of the Warrant as required pursuant to the terms hereof.

 

    	 	6	 

     

    

 

v.           
No Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon
the exercise of this Warrant. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such
exercise, the Company shall, at its election, either pay a cash adjustment in respect of such final fraction in an amount equal
to such fraction multiplied by the Exercise Price or round up to the next whole share.

 

vi.           
Charges, Taxes and Expenses. Issuance of Warrant Shares shall be made without charge to the Holder for any issue
or transfer tax or other incidental expense in respect of the issuance of such Warrant Shares, all of which taxes and expenses
shall be paid by the Company, and such Warrant Shares shall be issued in the name of the Holder or in such name or names as may
be directed by the Holder; provided, however, that in the event that Warrant Shares are to be issued in a name other
than the name of the Holder, this Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto
duly executed by the Holder and the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it
for any transfer tax incidental thereto. The Company shall pay all Transfer Agent fees required for same-day processing of any
Notice of Exercise and all fees to the Depository Trust Company (or another established clearing corporation performing similar
functions) required for same-day electronic delivery of the Warrant Shares.

 

vii.           
Closing of Books. The Company will not close its stockholder books or records in any manner which prevents the timely
exercise of this Warrant, pursuant to the terms hereof.

 

    	 	7	 

     

    

 

e)                  Holder’s
Exercise Limitations. The Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to
exercise any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that after giving effect to such
issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s
Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such
Persons, “Attribution Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation
(as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the
Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise
of this Warrant with respect to which such determination is being made, but shall exclude the number of shares of Common
Stock which would be issuable upon (i) exercise of the remaining, nonexercised portion of this Warrant beneficially owned by
the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or nonconverted
portion of any other securities of the Company (including, without limitation, any other Common Stock Equivalents) subject to
a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any
of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 2(e),
beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act and the rules and regulations
promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such
calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules
required to be filed in accordance therewith. To the extent that the limitation contained in this Section 2(e) applies, the
determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder together with any
Affiliates and Attribution Parties) and of which portion of this Warrant is exercisable shall be in the sole discretion of
the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether this
Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution
Parties) and of which portion of this Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation,
and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a
determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the
Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 2(e), in determining the
number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as
reflected in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be, (B)
a more recent public announcement by the Company or (C) a more recent written notice by the Company or the Transfer Agent
setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company
shall within two (2) Trading Days confirm orally and in writing to the Holder the number of shares of Common Stock then
outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the
conversion or exercise of securities of the Company, including this Warrant, by the Holder or its Affiliates or Attribution
Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial
Ownership Limitation” shall be 4.99% of the number of shares of the Common Stock outstanding immediately after
giving effect to the issuance of shares of Common Stock issuable upon exercise of this Warrant. The Holder, upon notice to
the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 2(e), provided that the
Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately
after giving effect to the issuance of shares of Common Stock upon exercise of this Warrant held by the Holder and the
provisions of this Section 2(e) shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be
effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall
be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 2(e) to correct
this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership
Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such
limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant.

 

    	 	8	 

     

    

 

Section 3. Certain Adjustments.

 

a)                 
Stock Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a stock dividend
or otherwise makes a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities
payable in shares of Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company
upon exercise of this Warrant), (ii) subdivides outstanding shares of Common Stock into a larger number of shares, (iii) combines
(including by way of reverse stock split) outstanding shares of Common Stock into a smaller number of shares, or (iv) issues by
reclassification of shares of the Common Stock any shares of capital stock of the Company, then in each case the Exercise Price
shall be multiplied by a fraction of which the numerator shall be the number of shares of Common Stock (excluding treasury shares,
if any) outstanding immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding
immediately after such event, and the number of shares issuable upon exercise of this Warrant shall be proportionately adjusted
such that the aggregate Exercise Price of this Warrant shall remain unchanged. Any adjustment made pursuant to this Section 3(a)
shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend
or distribution and shall become effective immediately after the effective date in the case of a subdivision, combination or re-classification.

 

b)                 
Subsequent Rights Offerings. In addition to any adjustments pursuant to Section 3(a) above, if at any time the Company
grants, issues or sells any Common Stock Equivalents or rights to purchase stock, warrants, securities or other property pro rata
to the record holders of any class of shares of Common Stock (the “Purchase Rights”), then the Holder will be
entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have
acquired if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without
regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before
the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the
date as of which the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase
Rights (provided, however, that to the extent that the Holder’s right to participate in any such Purchase Right
would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate
in such Purchase Right to such extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right
to such extent) and such Purchase Right to such extent shall be held in abeyance for the Holder until such time, if ever, as its
right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).

 

    	 	9	 

     

    

 

c)                 
Pro Rata Distributions. During such time as this Warrant is outstanding, if the Company shall declare or make any
dividend or other distribution (other than cash) of its assets (or rights to acquire its assets) to holders of shares of Common
Stock, by way of return of capital or otherwise (including, without limitation, any distribution of stock or other securities,
property or options by way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other
similar transaction) (a “Distribution”), at any time after the issuance of this Warrant, then, in each such
case, the Holder shall be entitled to participate in such Distribution to the same extent that the Holder would have participated
therein if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without
regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before
the date of which a record is taken for such Distribution, or, if no such record is taken, the date as of which the record holders
of shares of Common Stock are to be determined for the participation in such Distribution (provided, however, that
to the extent that the Holder's right to participate in any such Distribution would result in the Holder exceeding the Beneficial
Ownership Limitation, then the Holder shall not be entitled to participate in such Distribution to such extent (or in the beneficial
ownership of any shares of Common Stock as a result of such Distribution to such extent) and the portion of such Distribution
shall be held in abeyance for the benefit of the Holder until such time, if ever, as its right thereto would not result in the
Holder exceeding the Beneficial Ownership Limitation).

 

    	 	10	 

     

    

 

d)                  Fundamental
Transaction. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in one or more
related transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company (and
all of its Subsidiaries, taken as a whole), directly or indirectly, effects any sale, lease, license, assignment, transfer,
conveyance or other disposition of all or substantially all of its assets in one or a series of related transactions, (iii)
any, direct or indirect, purchase offer, tender offer or exchange offer (whether by the Company or another Person) is
completed pursuant to which holders of Common Stock are permitted to sell, tender or exchange their shares for other
securities, cash or property and has been accepted by the holders of 50% or more of the outstanding Common Stock, (iv) the
Company, directly or indirectly, in one or more related transactions effects any reclassification, reorganization or
recapitalization of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively
converted into or exchanged for other securities, cash or property, or (v) the Company, directly or indirectly, in one or
more related transactions consummates a stock or share purchase agreement or other business combination (including, without
limitation, a reorganization, recapitalization, spin-off, merger or scheme of arrangement) with another Person or group of
Persons whereby such other Person or group acquires more than 50% of the outstanding shares of Common Stock (not including
any shares of Common Stock held by the other Person or other Persons making or party to, or associated or affiliated with the
other Persons making or party to, such stock or share purchase agreement or other business combination) (each a
 “Fundamental Transaction”), then, upon any subsequent exercise of this Warrant, the Holder shall have the
right to receive, for each Warrant Share that would have been issuable upon such exercise immediately prior to the occurrence
of such Fundamental Transaction, at the option of the Holder (without regard to any limitation in Section 2(e) on the
exercise of this Warrant), the number of shares of Common Stock of the successor or acquiring corporation or of the Company,
if it is the surviving corporation, and any additional consideration (the “Alternate Consideration”)
receivable as a result of such Fundamental Transaction by a holder of the number of shares of Common Stock for which this
Warrant is exercisable immediately prior to such Fundamental Transaction (without regard to any limitation in Section 2(e) on
the exercise of this Warrant). For purposes of any such exercise, the determination of the Exercise Price shall be
appropriately adjusted to apply to such Alternate Consideration based on the amount of Alternate Consideration issuable in
respect of one share of Common Stock in such Fundamental Transaction, and the Company shall apportion the Exercise Price
among the Alternate Consideration in a reasonable manner reflecting the relative value of any different components of the
Alternate Consideration. If holders of Common Stock are given any choice as to the securities, cash or property to be
received in a Fundamental Transaction, then the Holder shall be given the same choice as to the Alternate Consideration it
receives upon any exercise of this Warrant following such Fundamental Transaction. Notwithstanding anything to the contrary,
in the event of a Fundamental Transaction, the Company or any Successor Entity (as defined below) shall, at the
Holder’s option, exercisable at any time concurrently with, or within 30 days after, the consummation of the
Fundamental Transaction (or, if later, the date of the public announcement of the applicable Fundamental Transaction),
purchase this Warrant from the Holder by paying to the Holder an amount of cash equal to the Black Scholes Value (as defined
below) of the remaining unexercised portion of this Warrant on the date of the consummation of such Fundamental Transaction;
provided, however, that if the Fundamental Transaction is not within the Company's control, including not approved by the
Company's Board of Directors, Holder shall only be entitled to receive from the Company or any Successor Entity as of the
date of consummation of such Fundamental Transaction, the same type or form of consideration (and in the same proportion), at
the Black Scholes Value (as defined below) of the unexercised portion of this Warrant, that is being offered and paid to the
holders of Common Stock of the Company in connection with the Fundamental Transaction, whether that consideration be in the
form of cash, stock or any combination thereof, or whether the holders of Common Stock are given the choice to receive from
among alternative forms of consideration in connection with the Fundamental Transaction. “Black Scholes
Value” means the value of this Warrant based on the Black Scholes Option Pricing Model obtained from the
 “OV” function on Bloomberg, L.P. (“Bloomberg”) determined as of the day of consummation of the
applicable Fundamental Transaction for pricing purposes and reflecting (A) a risk-free interest rate corresponding to the
U.S. Treasury rate for a period equal to the time between the date of the public announcement of the applicable Fundamental
Transaction and the Termination Date, (B) an expected volatility equal to the greater of 100% and the 100 day volatility
obtained from the HVT function on Bloomberg (determined utilizing a 365-day annualization factor) as of the Trading Day
immediately following the public announcement of the applicable Fundamental Transaction, (C) the underlying price per share
used in such calculation shall be the greater of (i) the sum of the price per share being offered in cash, if any, plus the
value of any non-cash consideration, if any, being offered in such Fundamental Transaction and (ii) the greater of (x) the
last VWAP immediately prior to the public announcement of such Fundamental Transaction and (y) the last VWAP immediately
prior to the consummation of such Fundamental Transaction and (D) a remaining option time equal to the time between the date
of the public announcement of the applicable Fundamental Transaction and the Termination Date. The payment of the Black
Scholes Value will be made by wire transfer of immediately available funds within five (5) Trading Days of the Holder’s
election (or, if later, on the effective date of the Fundamental Transaction). The Company shall cause any successor entity
in a Fundamental Transaction in which the Company is not the survivor (the “Successor Entity”) to assume
in writing all of the obligations of the Company under this Warrant in accordance with the provisions of this Section 3(d)
pursuant to written agreements in form and substance reasonably satisfactory to the Holder and approved by the Holder
(without unreasonable delay) prior to such Fundamental Transaction and shall, at the option of the Holder, deliver to the
Holder in exchange for this Warrant a security of the Successor Entity evidenced by a written instrument substantially
similar in form and substance to this Warrant which is exercisable for a corresponding number of shares of capital stock of
such Successor Entity (or its parent entity) equivalent to the shares of Common Stock acquirable and receivable upon exercise
of this Warrant (without regard to any limitations on the exercise of this Warrant) prior to such Fundamental Transaction,
and with an exercise price which applies the exercise price hereunder to such shares of capital stock (but taking into
account the relative value of the shares of Common Stock pursuant to such Fundamental Transaction and the value of such
shares of capital stock, such number of shares of capital stock and such exercise price being for the purpose of protecting
the economic value of this Warrant immediately prior to the consummation of such Fundamental Transaction), and which is
reasonably satisfactory in form and substance to the Holder. Upon the occurrence of any such Fundamental Transaction, the
Successor Entity shall succeed to, and be substituted for (so that from and after the date of such Fundamental Transaction,
the provisions of this Warrant referring to the “Company” shall refer instead to the Successor Entity), and may
exercise every right and power of the Company and shall assume all of the obligations of the Company under this Warrant with
the same effect as if such Successor Entity had been named as the Company herein.

 

    	 	11	 

     

    

 

e)                 
Calculations. All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a
share, as the case may be. For purposes of this Section 3, the number of shares of Common Stock deemed to be issued and outstanding
as of a given date shall be the sum of the number of shares of Common Stock (excluding treasury shares, if any) issued and outstanding.

 

f)                 

Notice to Holder.

 

i.           
Adjustment to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3,
the Company shall promptly deliver to the Holder by facsimile or email a notice setting forth the Exercise Price after such adjustment
and any resulting adjustment to the number of Warrant Shares and setting forth a brief statement of the facts requiring such adjustment.

 

ii.            Notice
to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on
the Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock,
(C) the Company shall authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or
purchase any shares of capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall
be required in connection with any reclassification of the Common Stock, any consolidation or merger to which the Company is
a party, any sale or transfer of all or substantially all of the assets of the Company, or any compulsory share exchange
whereby the Common Stock is converted into other securities, cash or property, or (E) the Company shall authorize the
voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, then, in each case, the
Company shall cause to be delivered by facsimile or email to the Holder at its last facsimile number or email address as it
shall appear upon the Warrant Register of the Company, at least twenty (20) calendar days prior to the applicable record or
effective date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose of such
dividend, distribution, redemption, rights or warrants, or if a record is not to be taken, the date as of which the holders
of the Common Stock of record to be entitled to such dividend, distributions, redemption, rights or warrants are to be
determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer or share exchange is
expected to become effective or close, and the date as of which it is expected that holders of the Common Stock of record
shall be entitled to exchange their shares of the Common Stock for securities, cash or other property deliverable upon such
reclassification, consolidation, merger, sale, transfer or share exchange; provided that the failure to deliver such notice
or any defect therein or in the delivery thereof shall not affect the validity of the corporate action required to be
specified in such notice. To the extent that any notice provided in this Warrant constitutes, or contains, material,
non-public information regarding the Company or any of the Subsidiaries, the Company shall simultaneously file such notice
with the Commission pursuant to a Current Report on Form 8-K. The Holder shall remain entitled to exercise this Warrant
during the period commencing on the date of such notice to the effective date of the event triggering such notice except as
may otherwise be expressly set forth herein.

 

    	 	12	 

     

    

 

Section 4.Transfer of Warrant.

 

a)                  Transferability.
Subject to compliance with any applicable securities laws and the conditions set forth in Section 4(d) hereof, this Warrant
and all rights hereunder (including, without limitation, any registration rights) are transferable, in whole or in part, upon
surrender of this Warrant at the principal office of the Company or its designated agent, together with a written assignment
of this Warrant substantially in the form attached hereto duly executed by the Holder or its agent or attorney and funds
sufficient to pay any transfer taxes payable upon the making of such transfer. Upon such surrender and, if required, such
payment, the Company shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees, as
applicable, and in the denomination or denominations specified in such instrument of assignment, and shall issue to the
assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly be cancelled.
Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the
Company unless the Holder has assigned this Warrant in full, in which case, the Holder shall surrender this Warrant to the
Company within three (3) Trading Days of the date on which the Holder delivers an assignment form to the Company assigning
this Warrant in full. The Warrant, if properly assigned in accordance herewith, may be exercised by a new holder for the
purchase of Warrant Shares without having a new Warrant issued.

 

    	 	13	 

     

    

 

b)                 
New Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid
office of the Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued,
signed by the Holder or its agent or attorney. As to any transfer which may be involved in such division or combination, the Company
shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined in accordance
with such notice. All Warrants issued on transfers or exchanges shall be dated the Issue Date of this Warrant and shall be identical
with this Warrant except as to the number of Warrant Shares issuable pursuant thereto.

 

c)                 
Warrant Register. The Company shall register this Warrant, upon records to be maintained by the Company for that
purpose (the “Warrant Register”), in the name of the record Holder hereof from time to time. The Company may
deem and treat the registered Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any
distribution to the Holder, and for all other purposes, absent actual notice to the contrary.

 

d)                  Transfer
Restrictions. If, at the time of the surrender of this Warrant in connection with any transfer of this Warrant, the
transfer of this Warrant shall not be either (i)   registered
pursuant to an effective registration statement under the Securities Act and under applicable state securities or blue sky
laws or (ii) eligible for resale without volume or manner-of-sale restrictions or current public information requirements
pursuant to Rule 144, the Company may require, as a condition of allowing such transfer, that the Holder or transferee of
this Warrant, as the case may be, to provide to the Company an opinion of counsel, the form and substance of which opinion
shall be reasonably satisfactory to the Company to the effect that the transfer of this Warrant does not require registration
under the Securities Act.

 

e)                 
Representation by the Holder. The Holder, by the acceptance hereof, represents and warrants that it is acquiring
this Warrant and, upon any exercise hereof, will acquire the Warrant Shares issuable upon such exercise, for its own account and
not with a view to or for distributing or reselling such Warrant Shares or any part thereof in violation of the Securities Act
or any applicable state securities law, except pursuant to sales registered or exempted under the Securities Act.

 

    	 	14	 

     

    

 

Section 5. Miscellaneous.

 

a)                 
No Rights as Stockholder Until Exercise; No Settlement in Cash. This Warrant does not entitle the Holder to any voting
rights, dividends or other rights as a stockholder of the Company prior to the exercise hereof as set forth in Section 2(d)(i),
except as expressly set forth in Section 3. Without limiting the rights of a Holder to receive Warrant Shares on a “cashless
exercise,” and to receive the cash payments contemplated pursuant to Sections 2(d)(i) and 2(d)(iv), in no event will the
Company be required to net cash settle an exercise of this Warrant.

 

b)                 
Loss, Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence
reasonably satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to
the Warrant Shares, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in
the case of the Warrant, shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock
certificate, if mutilated, the Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such
cancellation, in lieu of such Warrant or stock certificate.

 

c)                 
Saturdays, Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of
any right required or granted herein shall not be a Trading Day, then, such action may be taken or such right may be exercised
on the next succeeding Trading Day.

 

d)                 
Authorized Shares.

 

The Company
covenants that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued Common Stock a sufficient
number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights under this Warrant.
The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers who are charged
with the duty of issuing the necessary Warrant Shares upon the exercise of the purchase rights under this Warrant. The Company
will take all such reasonable action as may be necessary to assure that such Warrant Shares may be issued as provided herein without
violation of any applicable law or regulation, or of any requirements of the Trading Market upon which the Common Stock may be
listed. The Company covenants that all Warrant Shares which may be issued upon the exercise of the purchase rights represented
by this Warrant will, upon exercise of the purchase rights represented by this Warrant and payment for such Warrant Shares in accordance
herewith, be duly authorized, validly issued, fully paid and nonassessable and free from all taxes, liens and charges created by
the Company in respect of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously with such
issue).

 

    	 	15	 

     

    

 

Except
and to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without
limitation, amending its articles of incorporation or through any reorganization, transfer of assets, consolidation, merger,
dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance
of any of the terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in
the taking of all such actions as may be necessary or appropriate to protect the rights of Holder as set forth in this
Warrant against impairment. Without limiting the generality of the foregoing, the Company will (i) not increase the par value
of any Warrant Shares above the amount payable therefor upon such exercise immediately prior to such increase in par value,
(ii) take all such action as may be necessary or appropriate in order that the Company may validly and legally issue fully
paid and nonassessable Warrant Shares upon the exercise of this Warrant and (iii) use commercially reasonable efforts to
obtain all such authorizations, exemptions or consents from any public regulatory body having jurisdiction thereof, as may
be, necessary to enable the Company to perform its obligations under this Warrant.

 

Before
taking any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or
in the Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary
from any public regulatory body or bodies having jurisdiction thereof.

 

e)                 
Jurisdiction. All questions concerning the construction, validity, enforcement and interpretation of this Warrant
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 conflict of laws thereof. Each party agrees that all legal proceedings concerning the interpretation, enforcement
and defense of this Warrant shall be commenced in the state and federal courts sitting in the City of New York, Borough of Manhattan
(the “New York Courts”). Each party hereto hereby irrevocably submits to the exclusive jurisdiction of the New
York Courts for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby
or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that
it is not personally subject to the jurisdiction of such New York Courts, or such New York Courts are improper or inconvenient
venue for such proceeding. Each party hereby irrevocably waives personal service of process and consents to process being served
in any such suit, action or proceeding by mailing a copy thereof 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 Warrant 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 either party shall commence an action, suit or proceeding to enforce
any provisions of this Warrant, the prevailing party in such action, suit or proceeding shall be reimbursed by the other party
for their reasonable attorneys’ fees and other costs and expenses incurred with the investigation, preparation and prosecution
of such action or proceeding.

 

f)                  
Restrictions. The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not
registered, and the Holder does not utilize cashless exercise, will have restrictions upon resale imposed by state and federal
securities laws.

 

    	 	16	 

     

    

 

g)                 
Nonwaiver and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part
of Holder shall operate as a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies, notwithstanding
the fact that the right to exercise this Warrant terminates on the Termination Date. Without limiting any other provision of this
Warrant, if the Company willfully and knowingly fails to comply with any provision of this Warrant, which results in any material
damages to the Holder, the Company shall pay to the Holder such amounts as shall be sufficient to cover any costs and expenses
including, but not limited to, reasonable attorneys’ fees, including those of appellate proceedings, incurred by the Holder
in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder.

 

h)                 
Notices. Any and all notices or other communications or deliveries to be provided by the Holders hereunder including,
without limitation, any Notice of Exercise, shall be in writing and delivered personally, by facsimile or e-mail, or sent by a
nationally recognized overnight courier service, addressed to the Company, at the address set forth above Attention: Chief Executive
Officer, facsimile number +1 (510) 927-2647, email address jack@eksobionics.com, or such other facsimile number, email address
or address as the Company may specify for such purposes by notice to the Holders. Any and all notices or other communications or
deliveries to be provided by the Company hereunder shall be in writing and delivered personally, by facsimile or email, or sent
by a nationally recognized overnight courier service addressed to each Holder at the facsimile number, email address or address
of such Holder appearing on the books of the Company. Any notice or other communication or deliveries hereunder shall be deemed
given and effective on the earliest of (i) the date of transmission, if such notice or communication is delivered via facsimile
or email at the facsimile number or email address set forth in this Section prior to 5:30 p.m. (New York City time) on any date,
(ii) the next Trading Day after the date of transmission, if such notice or communication is delivered via facsimile or email at
the facsimile number or email address set forth in this Section on a day that is not a Trading Day or later than 5:30 p.m. (New
York City time) on any Trading Day, (iii) the second Trading Day following the date of mailing, if sent by U.S. nationally recognized
overnight courier service, or (iv) upon actual receipt by the party to whom such notice is required to be given.

 

i)                  
Limitation of Liability. No provision hereof, in the absence of any affirmative action by the Holder to exercise
this Warrant to purchase Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to
any liability of the Holder for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability
is asserted by the Company or by creditors of the Company.

 

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

 

    	 	17	 

     

    

 

k)                 
Successors and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced
hereby shall inure to the benefit of and be binding upon the successors and permitted assigns of the Company and the successors
and permitted assigns of Holder. The provisions of this Warrant are intended to be for the benefit of any Holder from time to
time of this Warrant and shall be enforceable by the Holder or holder of Warrant Shares.

 

l)                  
Amendment. This Warrant may be modified or amended or the provisions hereof waived with the written consent of the
Company, on the one hand, and the Holder of this Warrant, on the other hand.

 

m)              
Severability. Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective
and valid under applicable law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such
provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions
or the remaining provisions of this Warrant.

 

n)                 
Headings. The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose,
be deemed a part of this Warrant.

 

********************

 

(Signature Page Follows)

 

    	 	18	 

     

    

 

IN WITNESS WHEREOF, the Company
has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first above indicated.

 

	 	EKSO
    BIONICS HOLDINGS, INC.
	 	 	 	 
	 	 	 	 
	 	By:	 	 
	 		 	Name:
	 	 	 	Title:

 

    	 	19	 

     

    

 

Exhibit A

 

NOTICE OF EXERCISE

 

		TO:	EKSO BIONICS HOLDINGS, INC.

 

(1)   The
undersigned hereby elects to purchase                  
Warrant Shares of the Company pursuant to the terms of the attached Warrant (only if exercised in full), and tenders herewith
payment of the exercise price in full, together with all applicable transfer taxes, if any.

 

(2)
   Payment shall take the form of (check applicable box):

 

 ̈ in lawful money
of the United States; or

 

 ̈
if permitted the cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set forth in
subsection 2(c), to exercise this Warrant with respect to the maximum number of Warrant Shares purchasable pursuant to the
cashless exercise procedure set forth in subsection 2(c).

 

(3)  
Please issue said Warrant Shares in the name of the undersigned or in such other name as is specified below:

 

 

  

The Warrant Shares shall be delivered to the following
DWAC Account Number:

 

 

 

 

 

 

 

(4)  
Accredited Investor. The undersigned is an “accredited investor” as defined in Regulation D promulgated
under the Securities Act of 1933, as amended.

 

[SIGNATURE OF HOLDER]

 

	Name of Investing Entity:	 	 
	Signature of Authorized Signatory of Investing Entity:	 	 
	Name of Authorized Signatory:	 	 
	Title of Authorized Signatory:	 	 
	Date:	 	 

  

    	 	20	 

     

    

EXHIBIT B

 

ASSIGNMENT FORM

 

(To assign the foregoing
Warrant, execute this form and supply required information. Do not use this form to exercise the Warrant to purchase shares.)

 

FOR VALUE RECEIVED, the
foregoing Warrant and all rights evidenced thereby are hereby assigned to

 

	Name:	 	 
	 	 	(Please Print)
	 	 	 
	Address:	 	 
	 	 	(Please Print)
	 	 	 
	Phone Number:	 	 
	 	 	 
	Email Address:	 	 
	 	 	 
	Dated:                           ,
                   	 	 
	 	 	 
	Holder’s Signature:
                            
                            	 	 
	 	 	 
	Holder’s Address:

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