Document:

Exhibit
10.1

 

PIGGY-BACK
REGISTRATION RIGHTS AGREEMENT

 

THIS
PIGGY-BACK REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is entered into as of September        , 2019, by and
among The Peck Company Holdings, Inc., a Delaware corporation (the “Company”), and the undersigned parties
listed under Investor on the signature page hereto (each, an “Investor” and, collectively, the “Investors”).

 

WHEREAS,
each of the Investors has entered into Equity for Debt Exchange Agreement (each, an “Exchange Agreement”) and
currently hold the number of the outstanding shares of Common Stock of the Company set forth on such Investor’s signature
page (the “Debt Exchange Shares”);

 

WHEREAS,
each Investor, as a condition to the exercise such Investor’s Piggy-Back Rights as provided in Section 4 of the Exchange
Agreement, has agreed to enter in to this Agreement, upon the terms and subject to the conditions as hereinafter set forth;

 

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

 

	1.	DEFINITIONS.
    The following capitalized terms used herein have the following meanings:

 

“Agreement”
means this Agreement, as amended, restated, supplemented, or otherwise modified from time to time.

 

“Business
Combination” shall have the meaning given to such term in the Exchange Agreement.

 

“Commission”
means the Securities and Exchange Commission, or any other Federal agency then administering the Securities Act or the Exchange
Act.

 

“Common
Stock” means the common stock, par value $0.0001 per share, of the Company.

 

“Company”
is defined in the preamble to this Agreement.

 

“Debt
Exchange Shares” is defined in the preamble to this Agreement.

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated
thereunder, all as the same shall be in effect at the time.

 

“Indemnified
Party” is defined in Section 4.3.

 

“Indemnifying
Party” is defined in Section 4.3.

 

    	 	 	 

    	 	 	 

    

 

“Initial
Securities” means (i) the shares of Common Stock issued prior to the consummation of the Company’s IPO and (ii)
the Private Units (and underlying warrants and shares of Common Stock).

 

“IPO”
means the Company’s initial public offering consummated on March 7, 2016.

 

“Maximum
Number of Shares” is defined in Section 2.1.4.

 

“Notices”
is defined in Section 6.3.

 

“Option
Securities” means the shares of Common Stock or other securities registrable pursuant to the terms of the unit purchase
option issued by the Company to Chardan Capital Markets, LLC and Maxim Group LLC and/or their respective designees in connection
with the IPO.

 

“Piggy-Back
Registration” is defined in Section 2.1.1.

 

“Private
Units” means the 294,500 units purchased in the private placement consummated simultaneously with the consummation of
the IPO.

 

“Exchange
Agreement” is defined in the first recital to this Agreement.

 

“Register,”
“Registered” and “Registration” 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.

 

“Registrable
Securities” means shares of the Debt Exchange Shares. As to any particular Registrable Securities, such securities shall
cease to be Registrable Securities when: (a) 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; (b) such securities shall have been otherwise transferred, new certificates for them not bearing
a legend restricting further transfer shall have been delivered by the Company and subsequent public distribution of them shall
not require registration under the Securities Act; (c) such securities shall have ceased to be outstanding, or (d) the Registrable
Securities are freely saleable under Rule 144 without volume limitations.

 

“Registration
Statement” means a registration statement filed by the Company with the Commission in compliance with the Securities
Act and the rules and regulations promulgated thereunder for a public offering and sale of equity securities, or securities or
other obligations exercisable or exchangeable for, or convertible into, equity securities (other than a registration statement
on Form S-4 or Form S-8, or their successors, or any registration statement covering only securities proposed to be issued in
exchange for securities or assets of another entity).

 

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“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations of the Commission promulgated thereunder,
all as the same shall be in effect at the time.

 

“Stockholder”
is defined in the preamble of this Agreement.

 

“Stockholder
Indemnified Party” is defined in Section 4.1.

 

“Underwriter”
means 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.

 

	2.	REGISTRATION
    RIGHTS.

 

	 	2.1	Piggy-Back
    Registration.

 

	 	2.1.1	Piggy-Back
    Rights. If at any time on or after the date of this Agreement 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, by the Company for its own account or for stockholders of the Company for their
    account (or by the Company and by stockholders of the Company), other than a Registration Statement (i) filed in connection
    with any employee stock option or other benefit plan, (ii) for an exchange offer or offering of securities solely to the Company’s
    existing stockholders, (iii) for an offering of debt that is convertible into equity securities of the Company or (iv) for
    a dividend reinvestment plan, then the Company shall (x) give written notice of such proposed filing to the holders of Registrable
    Securities as soon as practicable but in no event less than ten (10) days before the anticipated filing date, which notice
    shall describe the amount and type of securities to be included in such offering, the intended method(s) of distribution,
    and the name of the proposed managing Underwriter or Underwriters, if any, of the offering, and (y) offer to the holders of
    Registrable Securities in such notice the opportunity to register the sale of such number of shares of Registrable Securities
    as such holders may request in writing within five (5) days following receipt of such notice (a “Piggy-Back Registration”).
    The Company shall cause such Registrable Securities to be included in such registration and shall use its best efforts to
    cause the managing Underwriter or Underwriters of a proposed underwritten offering to permit the Registrable Securities requested
    to be included in a Piggy-Back Registration on the same terms and conditions as any similar securities of the Company and
    to permit the sale or other disposition of such Registrable Securities in accordance with the intended method(s) of distribution
    thereof. All holders of Registrable Securities proposing to distribute their securities through a Piggy-Back Registration
    that involves an Underwriter or Underwriters shall enter into an underwriting agreement in customary form with the Underwriter
    or Underwriters selected for such Piggy-Back Registration.

 

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	 	2.1.2	Reduction
    of Offering. If the managing Underwriter or Underwriters for a Piggy-Back Registration that is to be an underwritten offering
    advises the Company and the holders of Registrable Securities in writing that the dollar amount or number of shares of Common
    Stock which the Company desires to sell, taken together with the shares of Common Stock, if any, as to which registration
    has been demanded pursuant to written contractual arrangements with persons other than the holders of Registrable Securities
    hereunder, the Registrable Securities as to which registration has been requested under this Section 2.1, and the shares of
    Common Stock, if any, as to which registration has been requested pursuant to the written contractual piggy-back registration
    rights of other stockholders of the Company, exceeds the maximum dollar amount or maximum number of shares that can be sold
    in such 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 shares, as applicable, the “Maximum
    Number of Shares”), then the Company shall include in any such registration:

 

a)
If the registration is undertaken for the Company’s account: (A) first, the shares of Common Stock or other securities that
the Company desires to sell that can be sold without exceeding the Maximum Number of Shares; (B) second, to the extent that the
Maximum Number of Shares has not been reached under the foregoing clause (A), the shares of Common Stock or other securities,
if any, comprised of Option Securities and Initial Securities, as to which registration has been requested pursuant to the applicable
written contractual piggy-back registration rights of such security holders, Pro Rata (pro rata in accordance with the number
of shares that each such person has requested be included in such registration, regardless of the number of shares held by each
such person), that can be sold without exceeding the Maximum Number of Shares; and (C) third, to the extent that the Maximum Number
of shares has not been reached under the foregoing clauses (A) and (B), the Registrable Securities Pro Rata, that can be sole
without exceeding the Maximum Number of Shares and (D) fourth, to the extent that the Maximum Number of shares has not been reached
under the foregoing clauses (A), (B) and (C), shares of Common Stock or other securities for the account of other persons that
the Company is obligated to register pursuant to written contractual piggy-back registration rights with such persons and that
can be sold without exceeding the Maximum Number of Shares;

 

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b)
If the registration is a “demand” registration undertaken at the demand of holders of Option Securities, (A) first,
the shares of Common Stock or other securities for the account of the demanding persons, Pro Rata, that can be sold without exceeding
the Maximum Number of Shares; (B) second, to the extent that the Maximum Number of Shares has not been reached under the foregoing
clause (A), the shares of Common Stock or other securities that the Company desires to sell that can be sold without exceeding
the Maximum Number of Shares; (C) third, to the extent that the Maximum Number of Shares has not been reached under the foregoing
clauses (A) and (B), the shares of Initial Securities, Pro Rata, as to which registration has been requested that can be sold
without exceeding the Maximum Number of Shares; (D) fourth, to the extent that the Maximum Number of Shares has not been reached
under the foregoing clauses (A), (B) and (C) shares of Registrable Securities, Pro Rata, as to which registration has been requested
pursuant to the terms hereof that can be sold without exceeding the Maximum Number of Shares; and (E) fourth, to the extent that
the Maximum Number of Shares has not been reached under the foregoing clauses (A), (B), (C) and (D), the shares of Common Stock
or other securities for the account of other persons that the Company is obligated to register pursuant to written contractual
arrangements with such persons, that can be sold without exceeding the Maximum Number of Shares; and

 

c)
If the registration is a “demand” registration undertaken at the demand of holders of Initial Securities, (A) first,
the shares of Common Stock or other securities for the account of the demanding persons, Pro Rata, that can be sold without exceeding
the Maximum Number of Shares; (B) second, to the extent that the Maximum Number of Shares has not been reached under the foregoing
clause (A), the shares of Common Stock or other securities that the Company desires to sell that can be sold without exceeding
the Maximum Number of Shares; (C) third, to the extent that the Maximum Number of Shares has not been reached under the foregoing
clauses (A) and (B), the shares of Option Securities, Pro Rata, as to which registration has been requested that can be sold without
exceeding the Maximum Number of Shares; (D) fourth, to the extent that the Maximum Number of Shares has not been reached under
the foregoing clauses, the shares of Registrable Securities, Pro Rata, as to which registration has been requested pursuant to
the terms hereof, that can be sold without exceeding the Maximum Number of Shares and (E) fifth, to the extent that the Maximum
Number of Shares has not been reached under the foregoing clauses (A), (B), (C) and (D), the shares of Common Stock or other securities
for the account of other persons that the Company is obligated to register pursuant to written contractual arrangements with such
persons, that can be sold without exceeding the Maximum Number of 0Shares; and

 

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d)
If the registration is a “demand” registration undertaken at the demand of persons other than either the holders of
Registrable Securities or of Option Securities or the Initial Securities, (A) first, the shares of Common Stock or other securities
for the account of the demanding persons that can be sold without exceeding the Maximum Number of Shares; (B) second, to the extent
that the Maximum Number of Shares has not been reached under the foregoing clause (A), the shares of Common Stock or other securities
that the Company desires to sell that can be sold without exceeding the Maximum Number of Shares; (C) third, to the extent that
the Maximum Number of Shares has not been reached under the foregoing clauses (A) and (B), collectively the shares of Common Stock
or other securities comprised of Initial Securities and Option Securities, Pro Rata, as to which registration has been requested,
that can be sold without exceeding the Maximum Number of Shares; (D) fourth, to the extent that the Maximum Number of Shares has
not been reached under the foregoing clauses (A), (B) and (C), the Registrable Securities, Pro Rata, as to which registration
has been requested pursuant to the terms hereof; and (E) fifth, to the extent that the Maximum Number of Shares has not been reached
under the foregoing clauses (A), (B), (C) and (D), the shares of Common Stock or other securities for the account of other persons
that the Company is obligated to register pursuant to written contractual arrangements with such persons, that can be sold without
exceeding the Maximum Number of Shares.

 

	 	2.1.3	Withdrawal.
    Any holder of Registrable Securities may elect to withdraw such holder’s request for inclusion of Registrable Securities
    in any Piggy-Back Registration by giving written notice to the Company of such request to withdraw prior to the effectiveness
    of the Registration Statement. The Company (whether on its own determination or as the result of a withdrawal by persons making
    a demand pursuant to written contractual obligations) may withdraw a Registration Statement at any time prior to the effectiveness
    of such Registration Statement. Notwithstanding any such withdrawal, the Company shall pay all expenses incurred by the holders
    of Registrable 0Securities in connection with such Piggy-Back Registration as provided in Section 3.3.

 

	3.	REGISTRATION
    PROCEDURES.

 

	 	3.1	Filings;
    Information. Whenever the Company is required to effect the registration of any Registrable Securities pursuant to Section
    2, the Company shall use its best efforts to effect the registration and sale of such Registrable Securities in accordance
    with the intended method(s) of distribution thereof as expeditiously as practicable, and in connection with any such request:

 

	 	3.1.1	Filing
    Registration Statement. The Company shall use its best efforts to, as expeditiously as possible after receipt of a request
    for a demand registration pursuant to a Registration Rights Agreement or if  the Company decides to file a Registration
    Statement on its own initiative, prepare and file with the Commission a Registration Statement on any form for which the Company
    then qualifies or which counsel for the Company shall deem appropriate and which form shall be available for the sale of all
    Registrable Securities to be registered thereunder in accordance with the intended method(s) of distribution thereof, and
    shall use its best efforts to cause such Registration Statement to become effective and use its best efforts to keep it effective
    for the period required by Section 3.1.3; provided, however, that the Company shall have the right to defer any demand registration
    for up to thirty (30) days, and any Piggy-Back Registration for such period as may be applicable to deferment of any demand
    registration to which such Piggy-Back Registration relates, in each case if the Company shall furnish to the holders a certificate
    signed by the President or Chairman of the Company stating that, in the good faith judgment of the Board of Directors of the
    Company, it would be materially detrimental to the Company and its stockholders for such Registration Statement to be effected
    at such time; provided further, however, that the Company shall not have the right to exercise the right set forth in the
    immediately preceding proviso more than once in any 365-day period in respect of a Demand Registration hereunder.

 

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	 	3.1.2	Copies.
    The Company shall, prior to filing a Registration Statement or prospectus, or any amendment or supplement thereto, furnish
    without charge to the holders of Registrable Securities included in such registration or their designated representative,
    or 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 holders of Registrable Securities included in such registration, or their designated representative, or legal counsel
    for any such holders may request in order to facilitate the disposition of the Registrable Securities owned by such holders.

 

	 	3.1.3	Amendments
    and Supplements. The Company shall prepare and file with the Commission such amendments, including post-effective amendments,
    and supplements to such Registration Statement and the prospectus used in connection therewith as may be necessary to keep
    such Registration Statement effective and in compliance with the provisions of the Securities Act until all Registrable Securities
    and other securities covered by such Registration Statement have been disposed of in accordance with the intended method(s)
    of distribution set forth in such Registration Statement or such securities have been withdrawn or until such time as the
    Registrable Securities cease to be Registrable Securities as defined by the Agreement.

 

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	 	3.1.4	Notification.
    After the filing of a Registration Statement, the Company shall promptly, and in no event more than two (2) business days
    after such filing, notify the holders of Registrable Securities included in such Registration Statement, or their designated
    representative, or legal counsel for any such holders of such filing, and shall further notify such holders promptly and confirm
    such advice in writing in all events within two (2) business days of the occurrence of any of the following: (i) when such
    Registration Statement becomes effective; (ii) when any post-effective amendment to such Registration Statement becomes effective;
    (iii) the issuance or threatened issuance by the Commission of any stop order (and the Company shall take all actions required
    to prevent the entry of such stop order or to remove it if entered); and (iv) any request by the Commission for any amendment
    or supplement to such Registration Statement or any prospectus relating thereto or for additional information or of the occurrence
    of an event requiring the preparation of a supplement or amendment to such prospectus so that, as thereafter delivered to
    the purchasers of the securities covered by such Registration Statement, such prospectus will not contain an untrue statement
    of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein
    not misleading, and promptly make available to the holders of Registrable Securities included in such Registration Statement,
    or their designated representative, or legal counsel for any such holders any such supplement or amendment; except that before
    filing with the Commission a Registration Statement or prospectus or any amendment or supplement thereto, including documents
    incorporated by reference, the Company shall furnish to the holders of Registrable Securities included in such Registration
    Statement, or their designated representative, or legal counsel for any such holders, copies of all such documents proposed
    to be filed sufficiently in advance of filing to provide such holders or legal counsel with a reasonable opportunity to review
    such documents and comment thereon.

 

	 	3.1.5	State
    Securities Laws Compliance. The Company shall use its best efforts to (i) 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), or their designated representative, or legal counsel for any such holders may request and (ii) 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 as may be necessary by virtue of the business and operations of the Company and do any
    and all other acts and things that may be necessary or advisable 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 but for this paragraph or subject itself to taxation in any such jurisdiction.

 

	 	3.1.6	Agreements
    for Disposition. The Company shall enter into customary agreements (including, if applicable, an underwriting agreement
    in customary form) and take such other actions as are reasonably required in order to expedite or facilitate the disposition
    of such Registrable Securities. The representations, warranties and covenants of the Company in any underwriting agreement
    which are made to or for the benefit of any Underwriters, to the extent applicable, shall also be made to and for the benefit
    of the holders of Registrable Securities included in such registration statement. No holder of Registrable Securities included
    in such registration statement shall be required to make any representations or warranties in the underwriting agreement except,
    if applicable, with respect to such holder’s organization, good standing, authority, title to Registrable Securities,
    lack of conflict of such sale with such holder’s material agreements and organizational documents, and with respect
    to written information relating to such holder that such holder has furnished in writing expressly for inclusion in such Registration
    Statement.

 

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	 	3.1.7	Cooperation.
    The principal executive officer of the Company, the principal financial officer of the Company, the principal accounting officer
    of the Company and all other officers and members of the management of the Company shall cooperate fully in any offering of
    Registrable Securities hereunder, which cooperation shall include, without limitation, the preparation of the Registration
    Statement with respect to such offering and all other offering materials and related documents, and participation in meetings
    with Underwriters, attorneys, accountants and potential investors.

 

	 	3.1.8	Records.
    The Company shall make available for inspection by the holders of Registrable Securities included in such Registration Statement,
    or their designated representative, or legal counsel for any such holders, any Underwriter participating in any disposition
    pursuant to such registration statement and any attorney, accountant or other professional retained by any holder of Registrable
    Securities included in such Registration Statement or any Underwriter, all financial and other records, pertinent corporate
    documents and properties of the Company, as shall be necessary to enable them to exercise their due diligence responsibility,
    and cause the Company’s officers, directors and employees to supply all information requested by any of them in connection
    with such Registration Statement.

 

	 	3.1.9	Opinions
    and Comfort Letters. The Company shall furnish to each holder of Registrable Securities included in any Registration Statement
    a signed counterpart, addressed to such holder, of (i) any opinion of counsel to the Company delivered to any Underwriter
    and (ii) any comfort letter from the Company’s independent public accountants delivered to any Underwriter. In the event
    no legal opinion is delivered to any Underwriter, the Company shall furnish to each holder of Registrable Securities included
    in such Registration Statement, at any time that such holder elects to use a prospectus, an opinion of counsel to the Company
    to the effect that the Registration Statement containing such prospectus has been declared effective and that no stop order
    is in effect.

 

	 	3.1.10	Earnings
    Statement. The Company sh0all comply with all applicable rules and regulations of the Commission and the Securities Act,
    and make available to its stockholders, as soon as practicable, an earnings statement covering a period of twelve (12) months,
    which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder.

 

	 	3.1.11	Listing.
    The Company shall use its best efforts to cause all Registrable Securities included in any registration to be listed on such
    exchanges or otherwise designated for trading in the same manner as similar securities issued by the Company are then listed
    or designated or, if no such similar securities are then listed or designated, in a manner satisfactory to the holders of
    a majority of the Registrable Securities included in such registration.

 

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	 	3.1.12	Road
    Show. If the registration involves the registration of Registrable Securities involving gross proceeds in excess of $10,000,000,
    the Company shall 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 the Underwriter in any underwritten offering.

 

	 	3.2	Obligation
    to Suspend Distribution. Upon receipt of any notice from the Company of the happening of any event of the kind described
    in Section 3.1.4(iv), or, in the case of a resale registration on Form S-3 pursuant to the terms hereof, upon any suspension
    by the Company, pursuant to a written insider trading compliance program adopted by the Company’s Board of Directors,
    of the ability of all “insiders” covered by such program to transact in the Company’s securities because
    of the existence of material non-public information, each holder of Registrable Securities included in any registration shall
    immediately discontinue disposition of such Registrable Securities pursuant to the Registration Statement covering such Registrable
    Securities until such holder receives the supplemented or amended prospectus contemplated by Section 3.1.4(iv) or the restriction
    on the ability of “insiders” to transact in the Company’s securities is removed, as applicable, and, if
    so directed by the Company, each such holder will deliver to the Company all copies, other than permanent file copies then
    in such holder’s possession, of the most recent prospectus covering such Registrable Securities at the time of receipt
    of such notice.

 

	 	3.3	Registration
    Expenses. The Company shall bear all costs and expenses incurred in connection with any Piggy-Back Registration pursuant
    to the terms hereof and all expenses incurred in performing or complying with its other obligations under this Agreement,
    whether or not the Registration Statement becomes effective, including, without limitation: (i) all registration and filing
    fees; (ii) fees and expenses of compliance with securities or “blue sky” laws (including fees and disbursements
    of counsel in connection with blue sky qualifications of the Registrable Securities); (iii) printing expenses; (iv) the Company’s
    internal expenses (including, without limitation, all salaries and expenses of its officers and employees); (v) the fees and
    expenses incurred in connection with the listing of the Registrable Securities as required by Section 3.1.11; (vi) Financial
    Industry Regulatory Authority fees; (vii) fees and disbursements of counsel for the Company and fees and expenses for independent
    certified public accountants retained by the Company (including the expenses or costs associated with the delivery of any
    opinions or comfort letters requested pursuant to Section 3.1.9); (viii) the fees and expenses of any special experts retained
    by the Company in connection with such registration and (ix) the actual reasonable fees and expenses of one legal counsel
    selected by the holders of a majority-in-interest of the Registrable Securities included in such registration in an amount
    not to exceed $5,000. The Company shall have no obligation to pay any underwriting discounts or selling commissions attributable
    to the Registrable Securities being sold by the holders thereof, which underwriting discounts or selling commissions shall
    be borne by such holders. Additionally, in an underwritten offering, all selling stockholders and the Company shall bear the
    expenses of the Underwriter pro rata in proportion to the respective amount of shares each is selling in such offering.

 

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	 	3.4	Information.
    The holders of Registrable Securities 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 Section 2
    and in connection with the Company’s obligation to comply with Federal and applicable state securities laws.

 

	4.	INDEMNIFICATION
    AND CONTRIBUTION.

 

	 	4.1	Indemnification
    by the Company. The Company agrees to indemnify and hold harmless each Stockholder and each other holder of Registrable
    Securities, and each of their respective officers, employees, affiliates, directors, partners, members, attorneys and agents,
    and each person, if any, who controls an Stockholder and each other holder of Registrable Securities (within the meaning of
    Section 15 of the Securities Act or Section 20 of the Exchange Act) (each, a “Stockholder Indemnified Party”),
    from and against any expenses, losses, judgments, claims, damages or liabilities, whether joint or several, arising out of
    or based upon any untrue statement (or allegedly untrue statement) of a material fact contained in any Registration Statement
    under which the sale of such Registrable Securities was registered under the Securities Act, any preliminary prospectus, final
    prospectus or summary prospectus contained in the Registration Statement, or any amendment or supplement to such Registration
    Statement, or arising out of or based upon any omission (or alleged omission) to state a material fact required to be stated
    therein or necessary to make the statements therein not misleading, or any violation by the Company of the Securities Act
    or any rule or regulation promulgated thereunder applicable to the Company and relating to action or inaction required of
    the Company in connection with any such registration; and the Company shall promptly reimburse the Stockholder Indemnified
    Party for any legal and any other expenses reasonably incurred by such Stockholder Indemnified Party in connection with investigating
    and defending any such expense, loss, judgment, claim, damage, liability or action; provided, however, that the Company will
    not be liable in any such case to the extent that any such expense, loss, claim, damage or liability arises out of or is based
    upon any untrue statement or allegedly untrue statement or omission or alleged omission made in such Registration Statement,
    preliminary prospectus, final prospectus, or summary prospectus, or any such amendment or supplement, in reliance upon and
    in conformity with information furnished to the Company, in writing, by such selling holder expressly for use therein. The
    Company also shall indemnify any Underwriter of the Registrable Securities, their officers, affiliates, directors, partners,
    members and agents and each person who controls such Underwriter on substantially the same basis as that of the indemnification
    provided above in this Section 4.1.

 

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	 	4.2	Indemnification
    by Holders of Registrable Securities. Each selling holder of Registrable Securities will, in the event that any registration
    is being effected under the Securities Act pursuant to this Agreement of any Registrable Securities held by such selling holder,
    indemnify and hold harmless the Company, each of its directors and officers and each Underwriter (if any), and each other
    selling holder and each other person, if any, who controls another selling holder or such Underwriter within the meaning of
    the Securities Act, against any losses, claims, judgments, damages or liabilities, whether joint or several, insofar as such
    losses, claims, judgments, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue
    statement or allegedly untrue statement of a material fact contained in any Registration Statement under which the sale of
    such Registrable Securities was registered under the Securities Act, any preliminary prospectus, final prospectus or summary
    prospectus contained in the Registration Statement, or any amendment or supplement to the Registration Statement, or arise
    out of or are based upon any omission or the alleged omission to state a material fact required to be stated therein or necessary
    to make the statement therein not misleading, if the statement or omission was made in reliance upon and in conformity with
    information furnished in writing to the Company by such selling holder expressly for use therein, and shall reimburse the
    Company, its directors and officers, and each other selling holder or controlling person for any legal or other expenses reasonably
    incurred by any of them in connection with investigation or defending any such loss, claim, damage, liability or action. Each
    selling holder’s indemnification obligations hereunder shall be several and not joint and shall be limited to the amount
    of any net proceeds actually received by such selling holder.

 

	 	4.3	Conduct
    of Indemnification Proceedings. Promptly after receipt by any person of any notice of any loss, claim, damage or liability
    or any action in respect of which indemnity may be sought pursuant to Section 4.1 or 4.2, such person (the “Indemnified
    Party”) shall, if a claim in respect thereof is to be made against any other person for indemnification hereunder,
    notify such other person (the “Indemnifying Party”) in writing of the loss, claim, judgment, damage, liability
    or action; provided, however, that the failure by the Indemnified Party to notify the Indemnifying Party shall not relieve
    the Indemnifying Party from any liability which the Indemnifying Party may have to such Indemnified Party hereunder, except
    and solely to the extent the Indemnifying Party is actually prejudiced by such failure. If the Indemnified Party is seeking
    indemnification with respect to any claim or action brought against the Indemnified Party, then the Indemnifying Party shall
    be entitled to participate in such claim or action, and, to the extent that it wishes, jointly with all other Indemnifying
    Parties, to assume control of the defense thereof with counsel satisfactory to the Indemnified Party. After notice from the
    Indemnifying Party to the Indemnified Party of its election to assume control of the defense of such claim or action, the
    Indemnifying Party shall not be liable to the Indemnified Party for any legal or other expenses subsequently incurred by the
    Indemnified Party in connection with the defense thereof other than reasonable costs of investigation; provided, however,
    that in any action in which both the Indemnified Party and the Indemnifying Party are named as defendants, the Indemnified
    Party shall have the right to employ separate counsel (but no more than one such separate counsel) to represent the Indemnified
    Party and its controlling persons who may be subject to liability arising out of any claim in respect of which indemnity may
    be sought by the Indemnified Party against the Indemnifying Party, with the fees and expenses of such counsel to be paid by
    such Indemnifying Party if, based upon the written opinion of counsel of such Indemnified Party, representation of both parties
    by the same counsel would be inappropriate due to actual or potential differing interests between them. No Indemnifying Party
    shall, without the prior written consent of the Indemnified Party, consent to entry of judgment or effect any settlement of
    any claim or pending or threatened proceeding in respect of which the Indemnified Party is or could have been a party and
    indemnity could have been sought hereunder by such Indemnified Party, unless such judgment or settlement includes an unconditional
    release of such Indemnified Party from all liability arising out of such claim or proceeding.

 

    	 	12	 

    	 	 	 

    

 

	 	4.4	Contribution.

 

	 	4.4.1	If
    the indemnification provided for in the foregoing Sections 4.1, 4.2 and 4.3 is unavailable to any Indemnified Party in respect
    of any loss, claim, damage, liability or action referred to herein, then each such Indemnifying Party, in lieu of indemnifying
    such Indemnified Party, shall contribute to the amount paid or payable by such Indemnified Party as a result of such loss,
    claim, damage, liability or action in such proportion as is appropriate to reflect the relative fault of the Indemnified Parties
    and the Indemnifying Parties in connection with the actions or omissions which resulted in such loss, claim, damage, liability
    or action, as well as any other relevant equitable considerations. The relative fault of any Indemnified Party and any Indemnifying
    Party shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material
    fact or the omission or alleged omission to state a material fact relates to information supplied by such Indemnified Party
    or such Indemnifying Party and the parties’ relative intent, knowledge, access to information and opportunity to correct
    or prevent such statement or omission.

 

	 	4.4.2	The
    parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 4.4 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 the immediately preceding Section 4.4.1.

 

	 	4.4.3	The
    amount paid or payable by an Indemnified Party as a result of any loss, claim, damage, liability or action referred to in
    the immediately preceding paragraph shall be deemed to include, subject to the limitations set forth above, any legal or other
    expenses incurred by such Indemnified Party in connection with investigating or defending any such action or claim. Notwithstanding
    the provisions of this Section 4.4, no holder of Registrable Securities shall be required to contribute any amount in excess
    of the dollar amount of the net proceeds (after payment of any underwriting fees, discounts, commissions or taxes) actually
    received by such holder from the sale of Registrable Securities which gave rise to such contribution obligation. No person
    guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution
    from any person who was not guilty of such fraudulent misrepresentation.

 

    	 	13	 

    	 	 	 

    

 

	5.	UNDERWRITING
    AND DISTRIBUTION.

 

	 	5.1	Rule
    144. The Company covenants that it shall file any reports required to be filed by it under the Securities Act and the
    Exchange Act and shall take such further action as the holders of Registrable Securities may reasonably request, all to the
    extent required from time to time to enable such holders to sell Registrable Securities without registration under the Securities
    Act within the limitation of the exemptions provided by Rule 144 under the Securities Act, as such Rules may be amended from
    time to time, or any similar rule or regulation hereafter adopted by the Commission.

 

	6.	MISCELLANEOUS.

 

	 	6.1	Other
    Registration Rights. The Company represents and warrants that no person, other than the holders of the Registrable Securities,
    the Initial Securities and Option Securities, has any right to require the Company to register any shares of the Company’s
    capital stock for sale or to include shares of the Company’s capital stock in any registration filed by the Company
    for the sale of shares of capital stock for its own account or for the account of any other person.

 

	 	6.2	Assignment;
    No Third Party Beneficiaries. This Agreement and the rights, duties and obligations of the Company hereunder may not be
    assigned or delegated by the Company in whole or in part. This Agreement and the rights, duties and obligations of the holders
    of Registrable Securities hereunder may be freely assigned or delegated by such holder of Registrable Securities in conjunction
    with and to the extent of any transfer of Registrable Securities by any such holder. This Agreement and the provisions hereof
    shall be binding upon and shall inure to the benefit of each of the parties, to the permitted assigns of the Stockholders
    or holder of Registrable Securities or of any assignee of the Stockholders or holder of Registrable Securities. This Agreement
    is not intended to confer any rights or benefits on any persons that are not party hereto other than as expressly set forth
    in Article 4 and this Section 6.2.

 

	 	6.3	Notices.
    All notices, demands, requests, consents, approvals or other communications (collectively, “Notices”) required
    or permitted to be given hereunder or which are given with respect to this Agreement shall be in writing and shall be personally
    served, delivered by reputable air courier service with charges prepaid, or transmitted by hand delivery, telegram, telex
    or facsimile, addressed as set forth below, or to such other address as such party shall have specified most recently by written
    notice. Notice shall be deemed given on the date of service or transmission if personally served or transmitted by telegram,
    telex or facsimile; provided, that if such service or transmission is not on a business day or is after normal business hours,
    then such notice shall be deemed given on the next business day. Notice otherwise sent as provided herein shall be deemed
    given on the next business day following timely delivery of such notice to a reputable air courier service with an order for
    next-day delivery.

 

    	 	14	 

    	 	 	 

    

 

To
the Company:

 

The
Peck Company Holdings, Inc.

4050
Williston Road, #511

South
Burlington, VT 05403

Facsimile:
(___) ___-____

Attention:
Chief Financial Officer

 

with
a copy to:

 

Sullivan
& Worcester LLP

1633
Broadway

New
York, New York 10019

Attention:
David E. Danovitch

Facsimile:
(212) 660-3001

 

To
a Stockholder, to the address set forth below such Stockholder’s name on Exhibit A hereto.

 

	 	6.4	Severability.
    This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not
    affect the validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore, in lieu of
    any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this
    Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible that is valid and
    enforceable.

 

	 	6.5	Counterparts.
    This Agreement may be executed in multiple counterparts, each of which shall be deemed an original, and all of which taken
    together shall constitute one and the same instrument.

 

	 	6.6	Entire
    Agreement. This Agreement (including all agreements entered into pursuant hereto and all certificates and instruments
    delivered pursuant hereto and thereto) constitute the entire agreement of the parties with respect to the subject matter hereof
    and supersede all prior and contemporaneous agreements, representations, understandings, negotiations and discussions between
    the parties, whether oral or written.

 

	 	6.7	Modifications
    and Amendments. No amendment, modification or termination of this Agreement shall be binding upon any party unless executed
    in writing by such party.

 

	 	6.8	Titles
    and Headings. Titles and headings of sections of this Agreement are for convenience only and shall not affect the construction
    of any provision of this Agreement.

 

    	 	15	 

    	 	 	 

    

 

	 	6.9	Waivers
    and Extensions. Any party to this Agreement may waive any right, breach or default which such party has the right to waive,
    provided that such waiver will not be effective against the waiving party unless it is in writing, is signed by such party,
    and specifically refers to this Agreement. Waivers may be made in advance or after the right waived has arisen or the breach
    or default waived has occurred. Any waiver may be conditional. No waiver of any breach of any agreement or provision herein
    contained shall be deemed a waiver of any preceding or succeeding breach thereof nor of any other agreement or provision herein
    contained. No waiver or extension of time for performance of any obligations or acts shall be deemed a waiver or extension
    of the time for performance of any other obligations or acts.

 

	 	6.10	Remedies
    Cumulative. In the event that the Company fails to observe or perform any covenant or agreement to be observed or performed
    under this Agreement, the Stockholder or any other holder of Registrable Securities may proceed to protect and enforce its
    rights by suit in equity or action at law, whether for specific performance of any term contained in this Agreement or for
    an injunction against the breach of any such term or in aid of the exercise of any power granted in this Agreement or to enforce
    any other legal or equitable right, or to take any one or more of such actions, without being required to post a bond. None
    of the rights, powers or remedies conferred under this Agreement shall be mutually exclusive, and each such right, power or
    remedy shall be cumulative and in addition to any other right, power or remedy, whether conferred by this Agreement or now
    or hereafter available at law, in equity, by statute or otherwise.

 

	 	6.11	Governing
    Law. This Agreement shall be governed by, interpreted under, and construed in accordance with the internal laws of the
    State of Delaware applicable to agreements made and to be performed within the State of Delaware, without giving effect to
    any choice-of-law provisions thereof that would compel the application of the substantive laws of any other jurisdiction.

 

	 	6.12	Waiver
    of Trial by Jury. Each party hereby irrevocably and unconditionally waives the right to a trial by jury in any action,
    suit, counterclaim or other proceeding (whether based on contract, tort or otherwise) arising out of, connected with or relating
    to this Agreement, the transactions contemplated hereby, or the actions of the Stockholder in the negotiation, administration,
    performance or enforcement hereof.

 

[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK]

 

    	 	16	 

    	 	 	 

    

 

IN
WITNESS WHEREOF, the parties have caused this Registration Rights Agreement to be executed and delivered by their duly authorized
representatives as of the date first written above.

 

	 	 	COMPANY:
	 	 	 
	 	 	The Peck Company Holdings, Inc.
	 	 	 	                                             
	 	 	By:	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	 	 	INVESTORS:
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 	[_________________]
	 	 	 
	 	 	By:	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	 	 	 	[______________________]
	 	 	 	 
	 	 	By:	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	 	 	 	[____________________]
	 	 	 	 
	 	 	By:	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	 	 	 	[___________________]
	 	 	 	 
	 	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

    	 	17	 

    	 	 	 

    

 

EXHIBIT
A

NAMES
AND ADDRESSES OF INVESTORS

 

	Name	 	Address
	 	 	 
	 	 	 

 

    	 	18Amended and Restated AirToken Terms & Conditions

 

EXHIBIT 4.4

Amended and Restated AirToken Terms & Conditions

Effective as of September 11, 2019

PLEASE READ THESE AMENDED AND RESTATED AIRTOKEN TERMS AND CONDITIONS CAREFULLY. NOTE THAT SECTION 11 CONTAINS A BINDING ARBITRATION CLAUSE AND CLASS ACTION WAIVER, WHICH AFFECT YOUR LEGAL RIGHTS. IF YOU DO NOT AGREE TO THESE AMENDED AND RESTATED AIRTOKEN TERMS AND CONDITIONS, DO NOT ACQUIRE, HOLD OR USE AIRTOKENS.

Your acquisition and use of the ERC-20 tokens known as AirTokens issued by CarrierEQ, Inc. d/b/a Airfox, a Delaware corporation (“Airfox,” “Company,” “we,” or “us”) and to participate in the “AirToken Project” is subject to these Amended and Restated Terms AirToken Terms and Conditions (“Terms and Conditions”), which supersede and replace in its entirety any prior terms and conditions, including those Amended and Restated Terms of Sale. Each of you and Company is a “Party,” and together the “Parties.”

These Terms and Conditions are effective as of the date written above. If you purchased AirTokens from us during the original token sale or otherwise acquired AirTokens, you agree that you are bound by these Terms and Conditions and all terms incorporated by reference, including any of our privacy policies in effect from time to time. You are advised to read these terms and conditions in their entirety. If you have any questions regarding these Terms and Conditions, please contact us at corporate@airfox.io.

You and Company agree as follows:

1.

Intended Purpose and Planned Use of AirTokens on the Airfox Platform

a.

We are developing a software technology platform (the “AirFox Platform”) initially consisting of two applications: a digital wallet application (the “Airfox Wallet”) and an alternative credit scoring and lending application. The Airfox Platform is designed and built as a Software as Service (or SaaS) offering. We expect to generate revenue from these applications from fixed recurring fees, transaction fees, third party fees and interest income. Our initial markets are expected to be the underbanked and unbanked markets in Brazil.

b.

Airfox Wallet. The Airfox Wallet is a digital banking application that holds users’ cash and can be used to process a variety of consumer transactions. It is designed to meet the needs of those who primarily use cash because financial services are inaccessible to them. Airfox has partnered with more than 300,000 physical locations throughout Brazil (including post offices and banks) to allow users to convert funds from physical to digital currency. Airfox customers can walk into a location, make a deposit, and see the value added to their mobile wallet. The funds are made available for use within 48 hours.

c.

Alternative Credit Scoring. We are in the process of developing an alternative credit scoring system using the information on financial transactions and data on other interactions from users’ smartphones that are collected by our Airfox Wallet application. The data collected will be analyzed by Airfox’s proprietary machine-learning algorithms, which will examine the user’s financial and behavioral trends to generate personalized credit scores for each customer, regardless of whether the customer has a formal credit history. We will leverage the insights from our alternative credit scoring algorithm to offer lower interest rates than traditional financial institutions on personal loans and working capital loans for small businesses pursuant to our peer-to-peer lending application described below. Also, for a fee, we will offer credit scoring as a service to third parties such as landlords doing background checks on prospective tenants, telecom companies determining eligibility for payment plans, and utility companies determining eligibility for establishing new service.

d.

Peer to Peer Lending. As our Airfox Wallet user base grows, we intend to evolve the AirToken Platform into a fully functioning, blockchain-based, peer-to-peer lending application that will enable 

 

anyone from around the world to provide capital for a microloan to a diversified cohort of borrowers. Our technology is expected to harness the decentralized power of the Ethereum blockchain to create a digital ledger of the user’s behavioral and transactional data to fund a new financial asset class from a global pool of lenders seeking to make socially impactful microloans or diversified, high-yield returns. Airfox plans to assume the role of the microloan underwriter and facilitate requests for loans from users who apply via the Airfox Platform. Airfox plans to issue the user’s debt in a tokenized smart contract as a non-fungible token representing the microloan note. The note would then be held or traded on a secondary market. As time progresses, we plan to facilitate the AirToken exchange process for lenders and borrowers abstracting away most technical details, which we expect will allow for institutional, enterprise, and mass adoption. Our backend systems should enable the Airfox Platform to convert lender’s fiat currency into AirToken and immediately transfer them to the borrower’s Airfox Wallet, wherein it would be immediately converted into local fiat currency within their Airfox Wallet balance. The borrower could then access the capital as needed. When their first repayment installment becomes due, the borrower will be able to deposit cash at a local store or ATM directly into their Airfox Wallet and repay the loan from the Airfox Platform. Eventually, the borrower’s AirFox Wallet will be integrated with the platform and users will be able to purchase AirTokens on-line to transfer back into the lender’s account.

2.

AirToken Project Expectations and Development

a.

You understand and accept that you have no expectation of influence over the management, development or deployment of the AirToken Project, and that the scope of the AirToken Project (including any contemplated functionality of the AirTokens) may change at any time, in Airfox’s sole discretion, without any notice or disclosure.

b.

You understand and accept that the AirToken Project will need to go through substantial development changes and revisions. You understand and accept that as part of the development, an upgrade of the Airfox Platform may be required and that, if you decide not to participate in such upgrade, you may no longer use any AirTokens held by you and that non-­upgraded AirTokens may lose their functionality (if any) in full.

3.

Additional Information

Additional information regarding the AirTokens, AirFox, the AirToken Project, the Airfox Platform and all other important information related to these matters  is set forth in the Company’s Form 10 Registration Statement filed with the U.S. Securities and Exchange Commission, which is incorporated herein by reference.

4.

Risks

You understand and accept that there are material risks associated with using, owning, acquiring or transferring AirTokens, including those risk factors set forth in Item 1A of the Company’s Form 10 Registration Statement, filed with the U.S. Securities and Exchange Commission, each of which is incorporated herein by reference.

5.

Security

a.

Your Security. You are responsible for implementing reasonable measures for securing the wallet, vault or other storage mechanism you use to receive and hold AirTokens, including any requisite private key(s) or other credentials necessary to access such storage mechanism(s). If your private key(s) or other access credentials are lost, you may lose access to your AirTokens. We are not responsible for any such losses. You will implement reasonable and appropriate measures designed to secure access to (i) any device connected with the email address associated with your account, (ii) private keys required to access any relevant Ethereum address or your AirTokens, and (iii) your username, password and any other login or identifying credentials. In the event that you are no longer in possession of any device connected with your account or are not able to provide your login or identifying credentials, we may, in our sole discretion, and only if we are able, grant access to your account to any person providing additional credentials to us. We reserve the right to determine the additional credentials required, which may include a sworn, notarized statement of identity.

 

b.

Additional Information. By accepting these Terms and Conditions, you agree that personal data about you may be collected and stored as well as processed for administering and maintaining our business or as otherwise needed in connection with the operation or development of the Airfox Platform. Therefore, you will provide to us, immediately upon our request, information that we, in our sole discretion, deem to be required to maintain compliance with any federal, state, local, domestic or foreign law, regulation or policy. Such information may include a passport, driver’s license, utility bill, photographs of you, government identification cards, or sworn statements.

c.

Your Information. We may use aggregate statistical information about your activity, including your activity on the Airfox Platform and logins to various websites, for marketing or any other purpose in our sole discretion. We may use your internet protocol address to verify your ownership, acquisition or transfer of AirTokens. However, we will not release your personally identifying information to any third-party without your consent, except as not prohibited by law or as set forth in these Terms and Conditions and any of our privacy policies in effect from time to time.

6.

Taxation

a.

You bear the sole responsibility for any and all tax consequences related directly or indirectly to your acquisition, use, ownership, transfer or sale of the AirTokens. 

b.

By acquiring, using, owning, transferring or selling AirTokens, and to the extent permitted by law, you agree not to hold the Company or its affiliates or any third-party (including developers, auditors, contractors or founders) liable for any tax liability associated with or arising from the your acquisition, use, ownership, transfer or sale of AirTokens or any other action or transaction related to the AirToken Project.

(i)

Proprietary Rights

(a)

Suggestions. If you provide any suggestions to us or our affiliates, we will own all right, title, and interest in and to those suggestions, even if you have designated the suggestions as confidential or proprietary. We and our affiliates will be entitled to use the suggestions without restriction. You irrevocably assign to us all right, title, and interest in and to the suggestions and agree to provide us any assistance we may require to document, perfect, and maintain our rights in the suggestions.

(b)

Hardware and Software. Under no circumstances will you gain any proprietary rights in any computer hardware or software used by us or any of our affiliates.

(c)

Intellectual Property. We retain all right, title and interest in all of our intellectual property, including inventions, discoveries, processes, marks, methods, compositions, formulae, techniques, information and data, whether or not patentable, copyrightable or protectable in trademark, and any trademarks, copyrights or patents based thereon. You may not use any of our intellectual property for any reason, except with our express, prior, written consent which may be revoked by us.

7.

Indemnification

a.

To the fullest extent permitted by applicable law, you will indemnify, defend and hold harmless Company and our respective past, present and future employees, officers, directors, contractors, consultants, equity holders, suppliers, vendors, service providers, parent companies, subsidiaries, affiliates, agents, representatives, predecessors, successors and assigns (the “Company Parties”) from and against all claims, demands, actions, damages, losses, costs and expenses (including attorneys’ fees) that arise from or relate to: (i) your acquisition, use, ownership, transfer or sale of AirTokens, (ii) your responsibilities or obligations under these Terms and Conditions, (iii) your violation of these Terms and Conditions, or (iv) your violation of any rights of any other person or entity.

 

b.

Company reserves the right to exercise sole control over the defense, at your expense, of any claim subject to indemnification under Section 7(a). This indemnity is in addition to, and not in lieu of, any other indemnities set forth in a written agreement between you and the Company.

8.

Disclaimers

TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW AND EXCEPT AS OTHERWISE SPECIFIED IN A WRITING BY US, (A) THE AIRTOKENS ARE SOLD ON AN “AS IS” AND “AS AVAILABLE” BASIS WITHOUT WARRANTIES OF ANY KIND, AND WE EXPRESSLY DISCLAIM ALL IMPLIED WARRANTIES AS TO THE AIRTOKENS, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NON­-INFRINGEMENT; (B) WE DO NOT REPRESENT OR WARRANT THAT THE AIR AIRTOKENS ARE RELIABLE, CURRENT OR ERROR-­FREE, MEET YOUR REQUIREMENTS, OR THAT DEFECTS IN THE AIRTOKENS WILL BE CORRECTED; AND (C) WE CANNOT AND DO NOT REPRESENT OR WARRANT THAT THE AIRTOKENS OR THE DELIVERY MECHANISM FOR AIRTOKENS ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS.

WE DO NOT AND WILL NOT PROVIDE YOU WITH ANY SOFTWARE OTHER THAN THE AIRTOKENS IN YOUR RESULTING DISTRIBUTION.

YOU UNDERSTAND THAT AIRTOKENS, BLOCKCHAIN TECHNOLOGY, THE ETHEREUM PROTOCOL, NEM BLOCKCHAIN, ETHER AND XEM ARE NEW AND UNTESTED TECHNOLOGIES OUTSIDE OF OUR CONTROL AND ADVERSE CHANGES IN MARKET FORCES OR TECHNOLOGY WILL EXCUSE OUR PERFORMANCE UNDER THESE TERMS.

TRANSACTIONS USING BLOCKCHAIN TECHNOLOGY, SUCH AS THOSE INVOLVING THE AIRTOKEN SALE, ARE AT RISK TO MULTIPLE POTENTIAL FAILURES, INCLUDING HIGH NETWORK VOLUME, COMPUTER FAILURE, BLOCKCHAIN FAILURE OF ANY KIND, AND USER FAILURE. WE ARE NOT RESPONSIBLE FOR ANY LOSS OF DATA, ETHER, XEM, AIRTOKENS, HARDWARE OR SOFTWARE RESULTING FROM ANY TYPES OF FAILURES.

Some jurisdictions do not allow the exclusion of certain warranties or disclaimer of implied terms in contracts with consumers, so some or all of the exclusions of warranties and disclaimers in this Section may not apply to you.

9.

Limitation of Liability

a.

TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW: (I) IN NO EVENT WILL COMPANY OR ANY OF THE COMPANY PARTIES BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, OR EXEMPLARY DAMAGES OF ANY KIND (INCLUDING, BUT NOT LIMITED TO, WHERE RELATED TO LOSS OF REVENUE, INCOME OR PROFITS, LOSS OF USE OR DATA, OR DAMAGES FOR BUSINESS INTERRUPTION) ARISING OUT OF OR IN ANY WAY RELATED TO THE SALE OR USE OF AIRTOKENS OR OTHERWISE RELATED TO THESE TERMS AND CONDITIONS, REGARDLESS OF THE FORM OF ACTION, WHETHER BASED IN CONTRACT, TORT (INCLUDING, BUT NOT LIMITED TO, SIMPLE NEGLIGENCE, WHETHER ACTIVE, PASSIVE OR IMPUTED), OR ANY OTHER LEGAL OR EQUITABLE THEORY (EVEN IF THE PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES AND REGARDLESS OF WHETHER SUCH DAMAGES WERE FORESEEABLE); AND (II) IN NO EVENT WILL THE AGGREGATE LIABILITY OF COMPANY AND THE COMPANY PARTIES (JOINTLY), WHETHER IN CONTRACT, WARRANTY, TORT (INCLUDING NEGLIGENCE, WHETHER ACTIVE, PASSIVE OR IMPUTED), OR OTHER THEORY, ARISING OUT OF OR RELATING TO THESE TERMS AND CONDITIONS OR THE USE OF OR INABILITY TO USE AIRTOKENS, EXCEED THE AMOUNT YOU PERSONALLY PAID TO US IN EXCHANGE FOR THE AIRTOKENS.

 

b.

THE LIMITATIONS SET FORTH IN SECTION 9(a) WILL NOT LIMIT OR EXCLUDE LIABILITY FOR THE GROSS NEGLIGENCE, FRAUD OR INTENTIONAL, WILLFUL OR RECKLESS MISCONDUCT OF COMPANY

c.

You acknowledge and agree that, to the fullest extent permitted by any applicable law, you will not hold any developers, auditors, contractors or founders of the Company, the AirTokens, the Airfox Platform and/or AirToken Project liable for any and all damages or injury whatsoever caused by or related to the use of, or the inability to use, AirTokens or any failure to develop or implement the AirToken Project or the Airfox Platform under any cause or action whatsoever of any kind in any jurisdiction, including, without limitation, actions for breach of warranty, breach of contract or tort (including negligence) and that developers, auditors, contractors or founders of the Company, the AirTokens, the Airfox Platform and/or the AirToken Project shall not be liable for any indirect, incidental, special, exemplary or consequential damages, including for loss of profits, goodwill or data, in any way whatsoever arising out of the use of, or the inability to use of the Airfox Platform, the AirToken Project and/or AirTokens.

d.

You further specifically acknowledge that developers, auditors, contractors or founders of the Company, the AirTokens, the Airfox Platform and/or the AirToken Project are not liable, and you agree not to seek to hold them liable, for the conduct of third parties, including other developers, auditors or contractors employed or engaged in connection with the AirTokens, the Airfox Platform or the AirToken Project, and that the risk of acquiring, creating, owning and using AirTokens rests entirely with you.

e.

By acquiring, owning or using AirTokens, and to the fullest extent permitted by law, you agree not to hold any third-party (including developers, auditors, contractors or founders) liable for any regulatory implications or liability associated with or arising from the creation, ownership or use of AirTokens or any other action or transaction related to the AirToken Project.

10.

Release

To the fullest extent permitted by applicable law, you release Company and the other related parties from responsibility, liability, claims, demands and/or damages (actual and consequential) of every kind and nature, known and unknown (including, but not limited to, claims of negligence), arising out of or related to disputes between users and the acts or omissions of third parties. You expressly waive any rights you may have under California Civil Code § 1542 as well as any other statute or common law principles that would otherwise limit the coverage of this release to include only those claims which you may know or suspect to exist in your favor at the time of agreeing to this release.

11.

Dispute Resolution; Arbitration

PLEASE READ THE FOLLOWING SECTION CAREFULLY BECAUSE IT REQUIRES YOU TO ARBITRATE CERTAIN DISPUTES AND CLAIMS WITH COMPANY AND LIMITS THE MANNER IN WHICH YOU CAN SEEK RELIEF FROM US.

a.

Binding Arbitration. Except for any disputes, claims, suits, actions, causes of action, demands or proceedings (collectively, “Disputes”) in which either Party seeks to (a) bring an individual action in small claims court, or (b) seeks injunctive or other equitable relief for the alleged unlawful use of intellectual property, including, without limitation, copyrights, trademarks, trade names, logos, trade secrets or patents, or (c) bring an action for claims under the federal securities laws, you and Company (i) waive your and Company’s respective rights to have any and all Disputes arising from or related to these Terms resolved in a court, and (ii) waive your and Company’s respective rights to a jury trial. Instead, you and Company will arbitrate Disputes through binding arbitration (which is the referral of a Dispute to one or more persons charged with reviewing the Dispute and making a final and binding determination to resolve it instead of having the Dispute decided by a judge or jury in court).

 

b.

No Class Arbitrations, Class Actions or Representative Actions. Any Dispute arising out of or related to these Terms is personal to you and Company and will be resolved solely through individual arbitration and will not be brought as a class arbitration, class action or any other type of representative proceeding. There will be no class arbitration or arbitration in which an individual may resolve a Dispute as a representative of another individual or group of individuals. Further, a Dispute cannot be brought as a class or other type of representative action, whether within or outside of arbitration, or on behalf of any other individual or group of individuals.

c.

Notice; Informal Dispute Resolution. Each Party will notify the other Party in writing of any arbitrable or small claims Dispute within thirty (30) days of the date it arises, so that the Parties can attempt in good faith to resolve the Dispute informally. Notice to Company shall be sent by e­mail to Company at corporate@airfox.io Notice to you shall be by email to the then­-current email address in your Account. Your notice must include (i) your name, postal address, email address and telephone number, (ii) a description in reasonable detail of the nature or basis of the Dispute, and (iii) the specific relief that you are seeking. If you and Company cannot agree how to resolve the Dispute within thirty (30) days after the date notice is received by the applicable Party, then either you or Company may, as appropriate and in accordance with this Section 11, commence an arbitration proceeding or, to the extent specifically provided for in Section 11(a), file a claim in court.

d.

Federal Arbitration Act. These Terms affect interstate commerce and the enforceability of this Section 11 will be both substantively and procedurally governed by and construed and enforced in accordance with the Federal Arbitration Act, 9 U.S.C. § 1 et seq. (the “FAA”), to the maximum extent permitted by applicable law.

e.

Process. Any arbitration will occur in Boston, Massachusetts. Arbitration will be conducted confidentially by a single arbitrator in accordance with the rules of the Judicial Arbitration and Mediation Services (“JAMS”), which are hereby incorporated by reference. The state and federal courts located in Boston, Massachusetts will have exclusive jurisdiction over any appeals and the enforcement of an arbitration award. You may also litigate a Dispute in the small claims court located in the county where you reside if the Dispute meets the requirements to be heard in small claims court.

f.

Authority of Arbitrator. As limited by the FAA, these Terms and the applicable JAMS rules, the arbitrator will have (i) the exclusive authority and jurisdiction to make all procedural and substantive decisions regarding a Dispute, including the determination of whether a Dispute is arbitrable, and (ii) the authority to grant any remedy that would otherwise be available in court; provided, however, that the arbitrator does not have the authority to conduct a class arbitration or a representative action, which is prohibited by these Terms. The arbitrator may only conduct an individual arbitration and may not consolidate more than one individual’s claims, preside over any type of class or representative proceeding or preside over any proceeding involving more than one individual.

g.

Rules of JAMS. The rules of JAMS and additional information about JAMS are available on the JAMS website. By agreeing to be bound by these Terms, you either (i) acknowledge and agree that you have read and understand the rules of JAMS, or (ii) waive your opportunity to read the rules of JAMS and any claim that the rules of JAMS are unfair or should not apply for any reason.

12.

Governing Law and Venue

These Terms will be governed by and construed and enforced in accordance with the laws of the State of Delaware, without regard to conflict of law rules or principles that would cause the application of the laws of any other jurisdiction. Any Dispute between the Parties arising out or relating to these Terms that is not subject to arbitration or cannot be heard in small claims court shall be resolved exclusively in the courts of the State of Massachusetts in the City of Boston or in the United States District Court for the District of Massachusetts.

 

13.

Severability

If any term, clause or provision of these Terms is held unlawful, void or unenforceable, then that term, clause or provision will be severable from these Terms and will not affect the validity or enforceability of any remaining part of that term, clause or provision, or any other term, clause or provision of these Terms.

14.

Modifications to the Terms.

We may amend, modify, replace or supplement these Terms and Conditions at any time in our sole discretion by posting a revised version on the Company’s website, other channel we make available or, only if you have provided us with an email address, by email. The modified provisions will become effective immediately upon posting or the date indicated in the posting, or if we notify you by email, as stated in the email. It is your responsibility to check the Company Site and other channels regularly for modifications. Your continued use or ownership of AirTokens, use of the Airfox Platform or any application related thereto or developed by the Company after any modification become effective constitutes your acceptance of the modification. 

15.

Miscellaneous

a.

Use of AirTokens. These Terms and Conditions govern the acquisition, ownership and use of AirTokens and supersede any prior public statements about the AirTokens or their intended use, utility or functionality.

b.

Force Majeure. We and our affiliates will not be liable for any delay or failure to perform any obligation under these Terms where the delay or failure results from any cause beyond our reasonable control, including acts of God, labor disputes or other industrial disturbances, electrical, telecommunications, hardware, software or other utility failures, earthquake, storms or other elements of nature, blockages, embargoes, riots, acts or orders of government, acts of terrorism, war, changes in blockchain technology, changes in the Ethereum or Snip protocols or any other force, event or condition outside of our control.

c.

Independent Contractors. We and you are independent contractors, and neither party, nor any of their respective affiliates, is an agent of the other for any purpose or has the authority to bind the other.

d.

No Third-Party Beneficiaries. These Terms and Conditions do not create any third-party beneficiary rights in any person except for any of our affiliates or licensors as provided herein.

e.

U.S. Government Rights. If provided to the U.S. Government, AIRs are provided as “commercial items,” “commercial computer software,” “commercial computer software documentation,” and “technical data” with the same rights and restrictions generally applicable to software services. If you are acquiring AirTokens on behalf of the U.S. Government and these terms fail to meet the U.S. Government’s needs or are inconsistent in any respect with federal law, you will immediately discontinue your purchase of the AirTokens. The terms “commercial item”, “commercial computer software,” “commercial computer software documentation,” and “technical data” are defined in the Federal Acquisition Regulation and the Defense Federal Acquisition Regulation Supplement.

f.

Import and Export Compliance. In connection with these Terms and Conditions, you will comply with all applicable import, re­import, export, and re­-export control and laws, regulations, guidance and programs, including the Export Administration Regulations, the International Traffic in Arms Regulations, and country or individual specific economic sanctions programs implemented by the Office of Foreign Assets Control. You are solely responsible for compliance related to your use or transfer of AirTokens.

 

g.

Notice.

(i)

To You: We may provide any notice to you under these Terms by: (A) posting a notice on the Company’s website; (B) sending an email to the email address then associated with your account; or (C) sending a letter to the physical address then associated with your account. Notices we provide by posting on the Company’s website will be effective upon posting and notices we provide by email and physical mail will be effective when we send the email or letter. It is your responsibility to keep your email address and physical address current. You will be deemed to have received any email sent to the email address or letter sent to the physical address then associated with your account when we send the email or letter, whether or not you actually receive or read the email or letter.

(ii)

To Us: To give us notice under these Terms, you must contact AirToken by email to corporate@airfox.io and 114 Western Ave, Allston, MA 02134 with the subject “Legal Notice Under Terms & Conditions.” We may update this email address for notices to us by posting a notice on the Company’s website or sending an email to you. Notices to us will be effective when received by us.

(iii)

Language:  All communications and notices to be made or given pursuant to these Terms must be in the English language.

h.

Assignment. You will not assign these Terms and Conditions, or delegate or sublicense any of your rights under these Terms, without our prior written consent. Any assignment or transfer in violation of this Section 15(i) will be void. We may assign these Terms and Conditions or any of its provisions without your consent. Subject to the foregoing, these Terms and Conditions will be binding upon, and inure to the benefit of the parties and their respective successors and permitted assigns.

i.

No Waivers. The failure by us to enforce any provision of these Terms and Conditions will not constitute a present or future waiver of such provision nor limit our right to enforce such provision at a later time. All waivers by us must be in writing to be effective.

j.

No Waivers of Any Right Under the Federal Securities Laws. None of the indemnification provisions, disclaimers, limitations of liability, and releases contained in these Terms and Conditions constitute waivers of any right or rights you may have under the federal securities laws.

k.

Reformation and Severability. If any provision of these Terms and Conditions is held to be invalid or unenforceable, the remaining provisions of these Terms and Conditions will remain in full force and effect. Any invalid or unenforceable provisions will be interpreted to effect the intent of the original provisions. If such construction is not possible, the invalid or unenforceable provision will be severed from these Terms and Conditions, but the rest of these Terms and Conditions will remain in full force and effect.

September 11, 2019

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